INTRODUCTION

This is a E-Learning Business Economics Exercise for Students to learn and test their underind of the Basic Economics.

From the lesson and exercises. Students are able to :

1. Explain the nature of basic economic problem.

2. Define and understand the concepts of scarcity, choice and opportunity cost.

3. Describe the decision makers, parts and types of economic systems.

4. Describe the economy in China .

5. Distinguish positive statements from normative statements.