Economics is a highly successful textbook, which is known and respected world-wide for its comprehensive coverage of introductory economics, its clarity of exposition, its lively applications and examples and for the quality of its four-colour artwork. This fifth edition brings the subject powerfully to life in the 21st century and accurately reflects and encompasses the constantly shifting economic world around us.Building on the high standards set by previous editions, this fifth European edition has been carefully revised and continues to place great emphasis on helping the student understand the core concepts of economics and think like an economist, as well as apply the fundamental principles of the discipline in a business context. Recognizing that students often find economics difficult, the authors write for the student, putting economics into practice, illuminating theory with real-world problems and issues and making the subject accessible, relevant and exciting.