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November 24, 2014 

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GOVERNMENT FUNCTIONS: Activities that are more efficiently performed by government than by private sector households and business. In fact, historical evidence (that is, 10,000 years of civilization--more or less) strongly indicates that we, regularly human-being-type people, are willing to put of with the coercive shenanigans of government (taxes, laws, regulations, abuse of power, oppression of the masses, meaningless wars) only because government does perform useful functions. Fire is the best analogy for government. When raging out of control both fire and government can cause horrific devastation. But when controlled, both can provide unparalleled good.

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Menu of Lessons
A. Introduction
  • Economic Basics
  • Economic Science
  • Scarcity
  • Production Possibilities

  • B. The Market
  • Demand
  • Supply
  • Market
  • Market Shocks

  • C. Behind Demand
  • Consumer Demand
  • Utility and Demand
  • Elasticity Basics
  • Elasticity and Demand

  • D. Behind Supply
  • The Firm
  • Production
  • Cost
  • Perfect Competition

  • E. Market Structures
  • Market Control
  • Monopoly
  • Monopolistic Competition
  • Oligopoly

  • F. Factor Markets
  • Factor Demand
  • Factor Supply
  • Factor Market Equilibrium

  • Jump to Macro Course
    Microeconomics

    Introductory Microeconomics is the study of the individuals, firms, markets, and industries, including the topics of consumer demand, production, cost, market structures, and factor markets.

    To access a given lesson, click on the corresponding link in the Menu of Lessons presented to the right.

    FREE GOOD

    A good that provides satisfaction of wants and needs without imposing an opportunity cost on society by preventing the production or consumption of other consumer-satisfying goods or services. Production using free goods is generally undertaken using free resources.

    Complete Entry | Visit the WEB*pedia


    APLS

    State of the ECONOMY

    U.S. Population
    November 7, 2014
    319,218,794
    Up again...U.S. Census Bureau

    More Stats

    WHITE GULLIBON
    [What's This?]

    Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a genuine fake plastic Tiffany lamp or a microwave over that won't burn your popcorn. Be on the lookout for fairy dust that tastes like salt.
    Your Complete Scope

    This isn't me! What am I?

    Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
    "You are younger today than you will ever be again. Make use of it for the sake of tomorrow. "

    -- Norman Cousins, editor

    AAT
    Association of Accounting Technicians
    A PEDestrian's Guide
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