Every day, each of us makes decisions aimed at improving our material living situation: vacation, car, or home, open-air concert, stereo system, or computer? We constantly have to decide how much of which goods to purchase and consume or use, and which services to utilize. Everyone must determine how much they work to earn income and what portion of their income they want to save or spend. These decisions are based on microeconomic considerations. In addition to an introduction to economics, the two authors discuss market theory and competition. Learning objectives and exercises with solutions distinguish this book and facilitate the understanding of microeconomic relationships.