Naked Economics: Undressing the Dismal Science Themes

Charles Wheelan
This Study Guide consists of approximately 22 pages of chapter summaries, quotes, character analysis, themes, and more - everything you need to sharpen your knowledge of Naked Economics.
This section contains 577 words
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The Importance of Products in an Economy

According to the author, products are a key factor in the economy. The wealth of a country is measured by output. This product doesn't necessarily mean something that is consumable. Sometimes a product is a skill.

Each area of the world has something it can offer the rest of the world. Hawaii grows pineapples easily while it doesn't practically have the ability to produce maple syrup. When the products are added to the commercial market, others pay for the product, strengthening the area's economy.

Most individuals do what they can to make life better for themselves. This is what drives an economy. There is a demand for products that make life easier and more enjoyable. Priorities are different for different people. The wealthy individuals don't have to worry about basics such as food and health care so they might become interested in...

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This section contains 577 words
(approx. 2 pages at 400 words per page)
Buy the Naked Economics: Undressing the Dismal Science Study Guide
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