Abstract
This chapter outlines the main features of a market economy and provides an introduction to some basic concepts used in economics. It is mainly intended for students who are studying the subject for the first time. Many of those using this book will have already studied economics at A level, or will have followed some other introductory economics course, and should be familiar with this material. These students can proceed straight to Chapter 2, although it would still be a useful revision exercise for them to begin by working through this chapter, particularly if they have had a long summer vacation since last opening an economics textbook!
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Notes
For further explanation of how economic predictions can be statistically tested see any text on introductory econometrics, for example, B. Haines, An Introduction to Quantitative Economics (London: George Allen & Unwin, 1978).
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© 1988 M.J. Rosser
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Rosser, M. (1988). The market economy. In: Microeconomics. Palgrave, London. https://doi.org/10.1007/978-1-349-19553-4_1
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DOI: https://doi.org/10.1007/978-1-349-19553-4_1
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-46297-3
Online ISBN: 978-1-349-19553-4
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