Includes index.

Contents: I. The Economic approach -- Some tools of the economist -- Market decisions and the market process -- A Bird's-eye view of the public sector -- II. Microeconomics: Demand and consumer choice -- Costs and producer decisions -- The Firm under pure competition -- Monopolistic competition, product differentiation, and low barriers to entry -- Oligopoly and the world of big business -- Business structure,competition, and public policy -- III. Factor markets and income distribution: The Supply and demand of productive resources -- Earnings and the job market -- Union power - a shield or a threat? -- Inequality,income mobility, and poverty -- Employment discrimination and the earnings of blacks and women --IV. Public choice: Problem areas of the market -- Public choice and gaining from government -- The Economics of government failure -- V. Capitalism and socialism: Comparative economic systems -- Appendix A: A Graphic look at economics -- Suggestions for additional reading -- Hints for answering discussion questions