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1、sam14885_ch01_00110/18/0012:37AMPage1PARTONEBasicConceptssam14885_ch01_00210/18/0012:37AMPage2sam14885_ch01_00310/18/0012:38AMPage3A.INTRODUCTIONAsyoubeginyourstudies,youareprobablywondering,Whystudyeco-nomics?Infact,peopledoitforanumberofreasons.Manystudyeconomicsbecausethey
2、hopetomakemoney.Somepeopleworrythattheywillbeconsideredilliterateiftheycannotunderstandthelawsofsupplyanddemand.Othersareinterestedinlearningabouthowcomput-ersandtheinformationrevolutionareshapingourso-CHAPTERcietyorwhyinequalityinthedistributionofincomeintheUnitedStateshasri
3、sensosharplyinrecentyears.ForWhomtheBellTolls1Allthesereasons,andmanymore,makegoodsense.Still,aswehavecometorealize,thereisoneoverridingreasonforlearningtheba-siclessonsofeconomics:Allyourlife—fromcradletograveandbeyond—youwillrunupagainstthebrutaltruthsofeconomics.TheFundame
4、ntalsofAsavoter,youwillmakedecisionsonis-suesthatcannotbeunderstooduntilyouEconomicshavemasteredtherudimentsofthissub-ject.Withoutastudyofeconomics,youcannotbefullyinformedaboutinterna-tionaltrade,theeconomicimpactoftheInternet,orthetrade-offbetweeninfla-tionandunemployment.C
5、hoosingyourlife’soccupationisthemostimportanteconomicdecisionyouwillmake.Yourfuturedependsnotonlyonyourownabilitiesbutalsoonhoweconomicforcesbeyondyourcontrolaffectyourwages.Also,yourknowledgeofeconomicsmayhelpTheAgeofChivalryisgone;thatyouinvestthenesteggyousavefromyourofsop
6、histers,economists,andearnings.Ofcourse,studyingeconomicscan-calculatorshassucceeded.notmakeyouagenius.Butwithouteconomicsthediceoflifeareloadedagainstyou.EdmundBurkeThereisnoneedtobelaborthepoint.Wehopeyouwillfindthat,inadditiontobeinguseful,economicsisafascinatingfieldinits
7、ownright.Gen-erationsofstudents,oftentotheirsurprise,havediscov-eredhowstimulatingeconomicscanbe.3sam14885_ch01_9/5/002:58PMPage44CHAPTER1THEFUNDAMENTALSOFECONOMICSSCARCITYANDEFFICIENCY:mandesireswerefullysatisfied,whatwouldbetheTHETWINTHEMESOFECONOMICSconsequences?Peoplewoul
8、dnotworryaboutstretchingouttheirlimitedincomesbecausetheyWhatisecono
