Welfare and Competition

Part 1: the subject matter of economics the market. Part 2: the price teker's behaviour and perfect competition #, the consumer the consumers' market and the notion of economic efficiency the worker and the efficiency of the labour market the firm the firm (continued) - the marker behaviour of the firm the efficiency of production capital the stability of perfect competition. Part 3: irrationality, indivisibility, inequality consumer's sovereignty and rationality the indivisibility of products externalities equity and the distribution of income. Part 4: the price maker's behaviour and free competition the profit margin the cost of production the conditions of free competition the efficiency of free competition. (part contents)