Understanding Economics

Nobody has everything they need, all the time - so how can we make do with what we have? Economics is all about understanding the choices we make to solve this problem. With bright, infographics pictures, this informative book describes why markets are so important, how businesses work out what to sell, and how governments choose how to run a country. Includes Usborne Quicklinks to specially selected websites for more information. Chapters in this book include: - What is economics? - What is an economy? - What do economists study? - How do you do economics? Not enough to go around The things we need to survive, how we choose them, and why there's never enough time: the big reasons why economies exist. Markets Buying and selling and how prices are set - as if by magic. Making choices How do people make choices and why are those choices often unexpected? How can businesses and governments change people's choices? Why would they want to? Production, profit and competition What big choices do businesses face? Why is competition so important? Why do some businesses produce pollution and what should we do about it? Economic systems Is there a set of rules that would make it possible to share everything fairly? Or is it better to have winners and losers? What systems have people tried? Macroeconomics What tools do governments use to measure the economy? What effects do their choices have on individual people and the economy as a whole? International trade Why everyone from around the world benefits from buying and selling each other's products - and why governments sometimes don't like it. Big questions (and a few answers) How the tools of economics help us make sense of everything, from war to famine to saving the planet. What's next?