1. Fill in the blanks with the right word from the table:

economics, economy, economic, economical, economists, economically, economize

1. Different …… may have opposite points of view on the problems …… studies.

2. In their daily living people have to make a lot of …… decisions.

3. The …… system of a country is usually called the national …….

4. In times of crisis most people have to live very …….

5. You should be …… with the money you earn.

6. In this university we study ……, it’s our core subject.

7. Keyens is know is one of the world’s famous …….

8. The management’s decision …… on the workers’ wages were not approved of by the staff.

Translate into English:

1. Состояние экономики очень тревожное.

2. Экономическая политика правительства часто подвергается справедливой критике.

3. Она очень экономная хозяйка, ни копейки зря не истратит.

4. Мировая экономика – это наука, которая изучает состояние экономики в разных странах мира.

5. Моя новая машина гораздо экономичнее старой.

1. Use these words in the suitable blanks in the sentences below:

produce, producer, production, productive, productive, productivity

1. The company …… a new commodity every year.

2. The company’s newest …… is a special blue soap powder.

3. The …… of soap powders met last year to discuss prices.

4. That factory is not as …… now as it was 5 years ago.

5. The …… of that factory has gone down over the last 5 years.

6. The manager of the factory has decided that they must increase their …… of packets of soap powder.

Translate into English:

1. В этом году наша компания изготовила (выпустила) вдвое больше автомобилей, чем в прошлом.

2. Производители этой модели оборудования не смогли найти для нее рынка сбыта (ready market).

3. Эта фирма известна своей высококачественной продукцией.

4. Производство нового самолета начнется в следующем году.

5. Они работают очень много, но все их усилия не слишком продуктивны.

6. Руководство ищет эффективные способы повышения производительности труда.

3. Put in the necessary prepositions.

   1. The term economics is derived … the Greek for oikos and nomos.

   2. … goods we mean physical commodities, … services – activities.

   3. Services may be consumed only … the instant they are produced.

   4. It is not always easy to find a compromise … people’s desires … goods and services, and the scarcity … resource … which they can be produced.

   5. The modern market economy comprises … three types of economic agents.

   6. Consumers represent households that provide labour and other resources to produce … an income which they use to purchase consumer goods.

   7. Producers acquire factors … production … households.

   8. Outputs can be classified … goods and services.

   9. The government is involved … the economy as a producer, consumer? Regulator and supervisor … economic activities.

   10. Consumers, producers and the government have to make rational decisions … available resources.

   11. The aim of the firm is to draw maximum profit … given resources or obtain desired results … the minimum efforts or cost.