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Introducing the Economic Way of Thinking CHAPTER 1

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Introducing the Economic Way of Thinking. C HAPTER. 1. EXHIBIT 1. T HREE C ATEGORIES OF R ESOURCES. EXHIBIT 2. T HE S TEPS IN THE M ODEL- B UILDING P ROCESS. EXHIBIT A-1. A D IRECT R ELATIONSHIP BETWEEN V ARIABLES. EXHIBIT A-2. A N I NVERSE R ELATIONSHIP BETWEEN V ARIABLES. - PowerPoint PPT Presentation

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Page 1: Introducing the Economic Way of Thinking

Introducing the Economic Way of

Thinking

CHAPTER

1

Page 2: Introducing the Economic Way of Thinking

2Tucker Economics for Today, 4e • Ch 1 Introducing the Economic Way of Thinking© 2005 Thomson/South-Western

EXHIBIT 1 THREE CATEGORIES OF RESOURCES

Page 3: Introducing the Economic Way of Thinking

3Tucker Economics for Today, 4e • Ch 1 Introducing the Economic Way of Thinking© 2005 Thomson/South-Western

EXHIBIT 2 THE STEPS IN THE MODEL-BUILDING PROCESS

Page 4: Introducing the Economic Way of Thinking

4Tucker Economics for Today, 4e • Ch 1 Introducing the Economic Way of Thinking© 2005 Thomson/South-Western

EXHIBIT A-1 A DIRECT RELATIONSHIP BETWEEN VARIABLES

Page 5: Introducing the Economic Way of Thinking

5Tucker Economics for Today, 4e • Ch 1 Introducing the Economic Way of Thinking© 2005 Thomson/South-Western

EXHIBIT A-2 AN INVERSE RELATIONSHIP BETWEEN VARIABLES

Page 6: Introducing the Economic Way of Thinking

6Tucker Economics for Today, 4e • Ch 1 Introducing the Economic Way of Thinking© 2005 Thomson/South-Western

EXHIBIT A-3 AN INDEPENDENT RELATIONSHIP BETWEEN VARIABLES

Page 7: Introducing the Economic Way of Thinking

7Tucker Economics for Today, 4e • Ch 1 Introducing the Economic Way of Thinking© 2005 Thomson/South-Western

EXHIBIT A-4 THE SLOPE OF AN UPWARD-SLOPING CURVE

Page 8: Introducing the Economic Way of Thinking

8Tucker Economics for Today, 4e • Ch 1 Introducing the Economic Way of Thinking© 2005 Thomson/South-Western

EXHIBIT A-5 THE SLOPE OF A DOWNWARD-SLOPING CURVE

Page 9: Introducing the Economic Way of Thinking

9Tucker Economics for Today, 4e • Ch 1 Introducing the Economic Way of Thinking© 2005 Thomson/South-Western

EXHIBIT A-6 CHANGES IN PRICE, QUANTITY, AND INCOME IN TWO DIMENSIONS


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