Introducing the Economic Way of

Thinking

CHAPTER

1

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

EXHIBIT 1 THREE CATEGORIES OF RESOURCES

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

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

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

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

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

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

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