Principles of Economics

addition advantage amount assume bank credit bank notes basis bushels business cycle buyers cause cent Chap character commodities competition concerning consumers contract definite demand deposits desire determination developed diminishing productivity discount division of labor economic rent effect entrepreneur equal estimate exchange existence expenses fact factors of production federal reserve federal reserve notes fluctuations forces futures contract gold hence important income increase individual industry influence instance intensive margin interest involved labor and capital land limited loans manufacturing marginal utility market price means ment methods monetary monopoly operation payments perfect competition present principle of diminishing Principles of Economics problem profits purchase purpose quantity rent reserve banks result risk secure sell significance silver social specialization supply surplus tariff tend tion trade unit costs value of money volume wages wealth wheat yield