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Volume #1: Colonial America

1. Exploring Economics: Then and Now 
Natural, human, and capital resources, wants, scarcity, choices, opportunity cost, barter

2. The Pilgrims: Surviving in the New World 
Scarcity, resources, natural resources, labor, capital, opportunity cost, specialization, three basic economic questions: What to produce? How to produce? For whom to produce? (optional: three main types of economies)

3. Indian Producers and Consumers 
Natural resources, capital resources, human resources, human capital, production

4. Indian Economies 
Natural resources, capital resources, human resources, human capital, production, economy, three basic questions that economies must answer, three types of economies, the role of government in an economy

5. The Virginia Company: Would You Invest? 
Investment risks and rewards, opportunity cost, saving, incentives

6. What Happened at Jamestown?
Incentives, trade, barter, producers, capital resources, natural resources, human resources, human capital

7. Exploring Their Choices: King James, Investors, Colonists, and Indians
Choices, costs, benefits, consequences, incentives, economic systems, voluntary trade, opportunity cost

8. Why Did They Trade? 
Voluntary trade, barter, exchange

9. The Ox-Cart Man Goes to Market 
Producers, consumers, goods, services, capital, natural and human resources, markets, exchange, money, barter, decision-making, demand, opportunity cost, income, savings, investing, consumer goods, capital goods

10. A Colonial Marketplace 
Economic wants, markets, buyers, sellers, self-sufficiency, barter, a double coincidence of wants, money, commodity money, the roles of money, the characteristics of money

11. The Colonial Workers Web 
Goods, services, producers, consumers, self-sufficiency, specialization, interdependence, barter

12. George Washington's Neighborhood 
Goods and services, producers and consumers, money, resources, economic freedom, standard of living

13. Apprenticeship: Developing Human Capital 
Human capital, choices, costs, benefits, consequences, incentives, opportunity cost

14. New England, the Mid-Atlantic, or the South: Where to Go?
 Scarcity, decision making, alternatives, criteria, opportunity cost

15. Producing: In the Past and In the Present 
Natural resources, capital resources, human resources, investment, goods, producers, specialization, productivity, transportation

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Last modified: January 9, 2010