Often, economics appears to be an endless procession of new puzzles, problems, and dilemmas. But as experienced teach-ers have learned, there are a few basic concepts that underpin all of economics. Once these concepts have been mastered, learning is much quicker and
more enjoyable. W e have therefore chosen to focus on the central core of economics—on those enduring truths that will be just as important in the twenty-fi rst century as they were in the twentieth.
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