Principles of Economics 2e

OpenStax peer-reviewed open textbook.

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Concepts this teaches

• Money reference p. 657 3 fact-checked sentence(s) in the drafted guide cite this page, e.g. “Loans and future agreements are stated in monetary terms, which is what lets us buy now and pay later.”
• Price reference p. 39 5 fact-checked sentence(s) in the drafted guide cite this page, e.g. “A fundamental principle of economics is that every choice has an opportunity cost.”
• Risk reference p. 401 2 fact-checked sentence(s) in the drafted guide cite this page, e.g. “At a $1,860 premium, drivers facing only $100 of likely loss will simply decline to buy.”
• Discount rate reference p. 876 2 fact-checked sentence(s) in the drafted guide cite this page, e.g. “Discounted at 8%, its present value is exactly $3,000; discounted at 11%, it is $2,845.80.”
• Opportunity cost reference p. 39 3 fact-checked sentence(s) in the drafted guide cite this page, e.g. “A fundamental principle of economics is that every choice has an opportunity cost.”
• Bond pricing reference p. 876 4 fact-checked sentence(s) in the drafted guide cite this page, e.g. “Discounted at 8%, those payments are worth $222.20 and $2,777.80 — a total of exactly $3,000.”