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Economics is a subject you learn by doing. Foundations of Microeconomics breaks the mold of a traditional text and becomes a practiceoriented learning system. Each chapter uses a Checklist to focus readers' attention on the most important key concepts. A discrete section introduces each of these core concepts and is immediately followed by a Checkpoint, a full page of practice that applies the concept. The result is a patient, confidencebuilding approach that prepares readers to use economics in their lives, regardless of what their future career will be. Introduction: Getting Started; The U.S. and Global Economies; The Economic Problem; Demand and Supply. A Closer Look at Markets: Elasticities of Demand and Supply; Efficiency and Fairness of Markets. How Governments Influence the Economy: Markets in Action; Taxes; Global Markets in Action; Externalities; Public Goods and Common Resources. A Closer Lo
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