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1、INTHISCHAPTERYOUWILL...LearnthateconomicsisabouttheallocationofscarceresourcesExaminesomeofthetradeoffsthatpeoplefaceLearnthemeaningofopportunitycostSeehowtousemarginalreasoningwhenmakingdecisionsDiscusshowincentivesaffectTENPRINCIPLESpeople’sbehaviorOFECONOMICSCo
2、nsiderwhytradeamongpeopleorThewordeconomycomesfromtheGreekwordfor“onewhomanagesahouse-nationscanbegoodhold.”Atfirst,thisoriginmightseempeculiar.But,infact,householdsandforeveryoneeconomieshavemuchincommon.Ahouseholdfacesmanydecisions.Itmustdecidewhichmembersoftheh
3、ouseholddowhichtasksandwhateachmembergetsinreturn:Whocooksdin-ner?Whodoesthelaundry?Whogetstheextradessertatdinner?WhogetstoDiscusswhymarketschoosewhatTVshowtowatch?Inshort,thehouseholdmustallocateitsscarcere-areagood,butnotsourcesamongitsvariousmembers,takinginto
4、accounteachmember’sabilities,perfect,waytoefforts,anddesires.allocateresourcesLikeahousehold,asocietyfacesmanydecisions.Asocietymustdecidewhatjobswillbedoneandwhowilldothem.Itneedssomepeopletogrowfood,otherpeopletomakeclothing,andstillotherstodesigncomputersoftwar
5、e.Oncesoci-Learnwhatetyhasallocatedpeople(aswellasland,buildings,andmachines)tovariousjobs,determinessometrendsintheoveralleconomy34PARTONEINTRODUCTIONitmustalsoallocatetheoutputofgoodsandservicesthattheyproduce.Itmustdecidewhowilleatcaviarandwhowilleatpotatoes.It
6、mustdecidewhowilldriveaPorscheandwhowilltakethebus.Themanagementofsociety’sresourcesisimportantbecauseresourcesarescarcityscarce.Scarcitymeansthatsocietyhaslimitedresourcesandthereforecannotpro-thelimitednatureofsociety’sduceallthegoodsandservicespeoplewishtohave.
7、Justasahouseholdcannotresourcesgiveeverymembereverythingheorshewants,asocietycannotgiveeveryindi-vidualthehigheststandardoflivingtowhichheorshemightaspire.economicsEconomicsisthestudyofhowsocietymanagesitsscarceresources.Inmostthestudyofhowsocietymanagesitssocieti
8、es,resourcesareallocatednotbyasinglecentralplannerbutthroughthescarceresourcescombinedactionsofmillionsofhouseholdsandfirms.Economiststhereforestudyhowp
