At that point, it pays a firm to sell what it has produced to some)Tj ET BT 90.125 321.25 TD (other channel that can carry on the next part of the operation more efficiently. With a car, shoppers could now buy far more)Tj ET BT 90.125 404.5 TD (groceries at one time than they could have carried home in their arms from an urban)Tj ET BT 90.125 390.5 TD (neighborhood store before the war. 0.25 w BT /F1 12 Tf 510.125 39 TD 0 Tc 0 Tw (21)Tj ET BT 90.125 709.25 TD (The average American\325s annual income could buy everything the average Japanese)Tj ET BT 90.125 695.5 TD (annual income buys and still have thousands of dollars left over. The same was true for the Federal Communications)Tj ET BT 90.125 570.75 TD (Commission regarding the telephone companies. )Tj ET BT 90.125 168.75 TD (If you buy bonds, your chances are only 50:50 of getting your money back at all. )Tj ET BT 90.125 265.75 TD (During the era before the First World War, when Germany had colonies in Africa, only 4)Tj ET BT 90.125 252 TD (of its 22 enterprises with cocoa plantations there paid dividends, as did only 8 of 58)Tj ET BT 90.125 238 TD (rubber plantations and only 3 out of 49 diamond mining companies. incentives they create rather than the goals they thomas sowell basic economics a common sense guide to the economy basic books 2014 editions for basic economics a citizens guide to the economy 0465081452 hardcover published in 2003 0465002609 hardcover published in 2007 kind free ebook basic economics fifth edition a common sense guide to the economy online collection mariettavoya … These vast resources enabled the United States to build canals,)Tj ET BT 90.125 210.5 TD (factories and transcontinental railroads to tie the country together economically. Others cut back, while)Tj ET BT 90.125 265.75 TD (others stop entirely and/or switch to another fruit. )Tj ET BT 90.125 279.75 TD (When AT&T was the world\325s largest corporation, its own CEO said, \322AT&T is so big,)Tj ET BT 90.125 265.75 TD (that when you give it a kick in the behind today, it takes two years before the head says,)Tj ET BT 90.125 252 TD (\324Ouch!\325\323)Tj ET BT 90.125 224.25 TD (While there are economies of scale, there are also diseconomies of scale. As the ownership of automobiles,)Tj ET BT 90.125 432 TD (refrigerators and freezers became more widespread, this completely changed the)Tj ET BT 90.125 418.25 TD (economics of the grocery industry. )Tj ET BT 90.125 155 TD (While Country A can produce either product more efficiently, the time it spends)Tj ET BT 90.125 141 TD (producing chairs would pay off much bigger in producing television sets, some of which)Tj ET BT 90.125 127.25 TD (it can trade for chairs from Country B, ending up with more of both products than if it)Tj ET BT 90.125 113.5 TD (produced both for itself. )Tj ET BT /F2 12 Tf 90.125 362.75 TD (The Basis for International Trade)Tj ET BT /F1 12 Tf 90.125 349 TD (The reasons why countries gain from international trade are usually grouped together by)Tj ET BT 90.125 335 TD (economists under three labels: Absolute Advantage, Comparative Advantage, and)Tj ET BT 90.125 321.25 TD (Economics of Scale. )Tj ET BT 90.125 432 TD (Purchasing Power)Tj ET 90 430.5 87 0.5 re f BT 90.125 404.5 TD (Money that is saved does not vanish into thin air. Yet Alcoa was prosecuted under)Tj ET BT 90.125 418.25 TD (the anti-trust laws and lost. )Tj ET BT 90.125 182.75 TD (Production costs are also lower when the producer has a large enough order to be able to)Tj ET BT 90.125 168.75 TD (schedule production far ahead, instead of finding himself forced to pay overtime to fill)Tj ET BT 90.125 155 TD (many small and unexpected orders that happen to arrive at the same time. )Tj ET BT 90.125 515.25 TD (As middle-class and working class people became more prosperous, they began)Tj ET BT 90.125 501.5 TD (migrating out to suburbia. A high rate of return provides incentives for people to save and invest)Tj ET BT 90.125 321.25 TD (more than they would at a lower rate of return. But economics does not urge you toward such choices. )Tj ET BT 90.125 432 TD (Resources tend to flow to their most valued uses. )Tj ET BT 90.125 141 TD (To give some idea of the cumulative effects of inflation, a one hundred dollar bill in 1998)Tj ET BT 90.125 127.25 TD (would buy less than a $20 bought in 1960. The \322control\323, \322power,\323)Tj ET BT 90.125 210.5 TD (and \322dominance\323 of A&P, which the government lawyers depicted so convincingly in)Tj ET BT 90.125 196.5 TD (court, proved to be of little consequence in the marketplace, when other supermarket)Tj ET BT 90.125 182.75 TD (chains were able to provide better service at lower prices. It)Tj ET BT 90.125 293.5 TD (allocates resources over time. )Tj ET BT 90.125 515.25 TD (The vast sums of money dispensed by foreign aid agencies such as the International)Tj ET BT 90.125 501.5 TD (Monetary Fund and the world Bank give the officials of these agencies enormous)Tj ET BT 90.125 487.5 TD (influence on the governments of poorer countries -- regardless of the success or failure of)Tj ET BT 90.125 473.75 TD (the programs they suggest or impose as preconditions for receiving the money.


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