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Charles Wheelan's Naked Economics

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In Naked Economics, Charles Wheelan aims to break down economics into simple terms, for people who have no previous experience with economics. He attempts to explain concepts in simple terms for readers so that they can quickly grasp the subject. One of the first topics that Wheelan explains is what a free market economy is. He states that in a free market economy, people act in their own self-interest, which in turn raises the standard of living for everyone.

Wheelan then explains two of the most important concepts in Naked Economics: supply and demand, and incentives. He explains the relationship between supply and demand first, explaining how as demand rises, prices rise as well, which in turn raises supply, and the cycle continues.

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