CONTENTS 1
Unit One 1
Text：What is Economics？ 1
Practice 5
Additional Text 8
Check Your Understanding 9
Unit Two 11
Text：The Economic Problem 11
Practice 17
Additional Text 19
Check Your Understanding 22
Unit Three 23
Text：Economic Systems 23
Practice 29
Additional Text 31
Check Your Understanding 34
Unit Four 36
Text：Demand and Supply—The Price Mechanism（Ⅰ） 36
Practice 44
Additional Text 47
Check Your Understanding 50
Unit Five 51
Text：Demand and Supply—The Price Mechanism（Ⅱ） 51
Practice 58
Additional Text 61
Check Your Understanding 63
Text：The Organization of Business 65
Unit Six 65
Practice 72
Additional Text 74
Check Your Understanding 76
Unit Seven 78
Text：Money and Banking 78
Practice 84
Additional Text 87
Check Your Understanding 89
Unit Eight 90
Text：Population 90
Practice 95
Additional Text 97
Check Your Understanding 99
Unit Nine 101
Text：Income and Work 101
Practice 106
Additional Text 108
Check Your Understanding 110
Unit Ten 111
Text：The Government and the Economy 111
Practice 117
Additional Text 119
Cheek Your Understanding 121
Appendix Ⅰ Answers to Exercises 123
Appendix Ⅱ Chinese Translations of the Texts 149
Appendix Ⅲ Glossary 176