In the first four chapters, in Part One, there is an overview of basic economic concepts. In the last chapter of this part, the workings of markets is explained in great detail. It is essential for everybody who studies economics to understand how the forces of supply and demand interact in markets.
Part Two is devoted to the consumer. The choices consumers make while pursuing maximum wellbeing is illuminated and applied to the demand curve. In the next chapter, the responsiveness of consumers to changes in prices, and certain other variables, is also explained with the help of the demand curve.
Part Three is devoted entirely to businesses. The physical inputs in the production process is discussed first, after that, the costs associated with these inputs is explained. On the output side, the following chapter explains how businesses generate revenues, and what is the optimal output level to maximize profits.
Part Four explores the competitive landscape that businesses operate in. These four chapters present the whole gamut from the most competitive market structure to the least competitive market structure.
Part One: Getting Acquainted with Economics
Chapter 1: Economic Models and Math Review
Chapter 2: Factors of Production and the Economy
Chapter 3: Scarcity and Opportunity Cost
Chapter 4: Supply and Demand
Part Two: The Consumer
Chapter 5: Consumer Choice and the Demand Curve
Chapter 6: Price Elasticity of Demand
Part Three: The Firm
Chapter 7: Inputs and Costs
Chapter 8: Revenues and Profits
Part Four: Market Structures
Chapter 9: Corporations
Chapter 10: Perfect Competition
Chapter 11: Monopoly
Chapter 12: Monopolistic Competition and Oligopoly