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)