Foundations of Economics, 8th Edition

• Facebook, 38, 406, 453

• Factor markets, 48, 488

  • capital markets in, 501

  • in circular flows, 49

  • demand for labor curve in, 491–492

  • demand for labor in, 490

  • land markets in, 502

  • marginal product value in, 489–490

  • market income in, 512

  • natural resources in, 488

  • nonrenewable natural resources in, 504

  • services in, 488

• Factor prices, 364–365, 488

• Factors of production, 36

  • capital in, 37

  • entrepreneurship in, 38

  • labor in, 37

  • land in, 36

  • prices and, 364–365, 492

• Fair Labor Standards Act of 1938, 179, 631

• Fairness

  • ability-to-pay principle and, 206–207

  • benefits principle and, 206

  • big tradeoff and, 161, 207–209

  • of markets, 161–163

  • of minimum wage, 181

  • of monopolies, 415

  • of perfect competition, 397

  • of price gouging, 162

  • of production quotas, 185

  • of rent ...