For the past two decades, and recently with the economic recession, the media has emphasized the decline of manufacturing in the United States and other developed countries. In the U.S., some initially blamed the North American Free Trade Agreement (NAFTA) for this decline. Hearing that manufacturing is on the decline, one might reason that its…

Argues that the return-to-scale concept is important in explaining to more advanced students how production structures underlie costs. Reviews Christopher Ross Bell's graphical analysis, contending that its argument suggests a variable-returns-to-scale function rather than one exhibiting decreasing returns to scale. Explores classic views and the…

Designed for high school economics students as a public service project of the American Fletcher National Bank, the booklet examines America's decreasing productivity rate in terms of the efficiency. Natural resources, labor, skilled management, and capital are essential to the productive process. When there is an increase in the cost of the…

Designed for high school economics students as a public service project of the American Fletcher National Bank, the booklet examines the American free enterprise system as it relates to the traditional lemonade stand and its ability to make a profit. The parallel is made by considering some basic principles: (1) the constant need for capital to…