includes glossary and index.

As you start your study of economics, some very basic questions about the subject will occur to you. First, you probably wonder just what economics is. And what do the people called economists do? Most likely, you want to know whether economics has anything to do with your life and interests? Does it have any practical applications? The chapters in this first unit will start to give you answers to these concerns. They will introduce you to some basic economic principles work in various economic systems. Since you are most closely involved in the working of the American economic system, it is this system that will be emphasized in this textbook.

English text.