Principles of economics : print companion to accompany connect master : economics

"What is economics? That's a great question, but not one with a simple answer. A dictionary will say something like this: "Economics is the study of the production, distribution, and consumption of goods and services." A traditional textbook might define it like this: "Economics is a social science that studies people and the choices they make in the face of scarce resources." Our product is no dictionary, and it's definitely not a traditional textbook, so our definition differs a bit too. Have you ever been in a dark room trying to find your way from one side to the other? We all have, and along the way we've stubbed toes, banged shins, and stumbled. That's a problem, and the way to solve it is to turn on a light so you can see the path to take, understand the obstacles, and make better choices. When you turn on a light, the world around you is illuminated, so instead of stumbling from one place to another, you can move with confidence to your final destination. Economics, then, really is about people and the choices they make in a world of scarce resources. But it's also more: It's a way of thinking and of viewing the world that turns on the lights. Economics illuminates your world because it shows you how decisions are connected to outcomes. It connects you to the world by giving you the tools to understand the choices you and those around you make."