Economics Principles in Action

This book incorporates the Voluntary National Content Standards in Economics developed by the National Council on Economic Education. The standards are built around twenty key concepts: Scarcity, Opportunity Cost, Economic Systems, Incentives, Trade, Specialization, Markets and Prices, Supply and Demand, Competition, Economic Institutions, Money, Interest Rates, Income, Entrepreneurs, Standard of Living, Government, Public Policy, Gross Domestic Product, Unemployment and Inflation, Monetary and Fiscal Policy.