Vocabulary focus

Ex.1. Find the English equivalents in the text.

Засіб для виживання; виконувати завданнявиробництватарозподілу; не зважаючи на виникнення великої різноманітності; для того, щоб вирішити економічну проблему; почуття безпеки та психологічного комфорту;братидоуваги; обмежувативибірспоживачів; вільнепідприємництво; досягтиефективності; критикинеможутьзрозуміти; визначити з достатньою точністю; створення неформальної соціальної мережі; надавати дозвіл на ведення приватного бізнесу; контролювати основні сектори економіки; чистий ринок; характерні риси; структура ринкової системи; незалежно вирішувати; керувати основними галузями промисловості; отримуватибезкоштовнімедичніпослуги.

Ex.2. Give Ukrainian equivalents for the following phrases.

To present itself as; to be tempted to say; in spite of; to come into play; the essential dilemma; production and distribution; to take advantage of; to solve economic problems; to do for a living; a sense of security and psychological comfort; a greater degree of autonomy; incentives for entrepreneurs; to stand for a market economy; the dominating motive; to formulate decisions; to direct enterprises; relevant aspects; intermingled with; to be notoriously corrupt; consumer preferences, shortages and surpluses; to reach a consensus on;fail to realize.

Ex.3. Give three forms of the following verbs. Find the sentences with these verbs in the text.

Deal, make, say, come, cost, choose, see, do, find, speak, be, sell.

Ex.4.Make up adjective +noun or noun +noun collocations (there may be several variants). Give examples either from the text or of your own.

Economic, basic, scientific, profit, free, private, decision, government, scarcity.

Problem, property, system, development, enterprise, questions, motive, maker, ownership.

Model:economic system

e.g. People have made use of a variety of economic systems.

Ex.5. Match up the words on the left with the definitions on the right.

1	aneconomicsystem	a	economy, with some free enterprise and some government ownership
2	a traditional economic system	b	an economic system in which the state or government manages the economy
3	a market economic system	c	also commonly described as a free enterprise or capitalist system
4	a planned economy or directed economy	d	one in which people's economic roles are the same as those of their parents and grandparents
5	mixed economic system	e	one in which a nation's economic decisions are the result of individual decisions made by buyers and sellers in the marketplace
6	laissez-faire	f	a way of answering three basic questions:what, how and for whom to produce

Ex.6. Choose an appropriate word or a phrase to complete the following sentences.

Decision maker, a mechanism, traditional, basic and unfinished, in the distant past, a free enterprise or laissez-faire, a sense of security, owned and operated, government, in spite of.

1. To an economist, economic society presents itself as __________ for survival.

2. In fact, __________ the appearance of great variety, it is possible to group these different economic structures into four broad categories.

3. In traditional societies people use methods of production and distribution devised __________.

4. A __________ economy does not allow for much economic growth and development as changes are very slow and there is little social mobility.

5. The market system of economic organization is also commonly described as __________, or capitalist system.

6. Traditional economy provides __________ and psychological comfort.

7. In a command economic system, the main __________ is the government.

8. All countries today have mixed economic systems or mixed economies, with some free enterprise and some __________ ownership.

9. Government planners decide the answers to the __________ questions.

10. If almost all the stores, factories, and farms in a nation are __________ by private individuals or businesses, then its system is called free enterprise.

Ex.7. Complete the following sentences with prepositions.

1. _____ an economist, economic society presents itself as a mechanism _____ survival.

2. If we look _____ the different political and social structures which exist in the world today, we are tempted to say that people have made use _____ , and are making use _____ , very great varieties _____ economic sys­tems.

3. Tradition decides what these people do _____ a living and how their work is performed.

4. A traditional economy does not allow _____ much economic growth and development.

5. We shall use all these terms to stand _____ a market economy.

6. Every person has a property right _____ his own person and his own labor, and that he can make free contracts _____ those services.

7. Its most extensive form is referred _____ as a command economy.

8. Each nation and society thus must make choices and decisions based _____ their own values.

9. There is not one single definition _____ a mixed economy.

10. Economies _____ states ranging _____ the United States _____ Cuba have been termed mixed economies.

Ex.8. Combine two parts logically to make a complete sentence.

1	If we look at the different political and social structures which exist in the world today, the years,	a	where individual producers each make their own production decisions based on their own profit motive.
2	There are several basic and unfinished questions	b	capitalist, socialist, or mixed economies.
3	Efficiency is best achieved through a market economy	c	then that nation's economic system is called communism.
4	Supporters of planned economies cast them as	d	we are tempted to say that people have made use of, and are making use of, very great varieties of economic systems.
5	For some states, there is no consensus on whether they are	e	few incentives for entrepreneurs, thus limiting choices for consumers.
6	If the government owns and operates almost all of the nation's means of production,	f	that in a free-market system, every person has a property right over his own person and his own labour.
7	A traditional economy provides	g	is 100 percent communism, socialism or capitalism.
8	The critics fail to realize	h	have been termed mixed economies.
9	No country has an economic system that	i	a practical measure to ensure the production of necessary goods.
10	Economics in states ranging from the USA to Cuba	j	that must be answered in order to resolve the problems of economics.

Ex.9. Look through the text again and replace the words /phrases in italics with similar ones.

1. The problem of insufficiency requires answers to questions “What to produce?” “How to produce?” and “Who gets what is produced?”

2. In a traditional economic system tradition decides how peopleearn their daily bread.

3. A traditional economy doesn’t make good use of technology and there is relatively little promotion of intellectual and scientific development.

4. The market system of economic organization is described as economic activity undertaken by private individuals or organizations under private ownership.

5. The political authority has performed some economic functions.

6. The framework of a market system contains six major traits.

7. In a command economy no individual may independently set up and manage commercial activity.

8. Critics of command economy argue that planners cannot determine consumers’ likes.

9. Planned economies have a bad reputation to act dishonestly in return for money or personal gain.

10. In mixed economic systems intervention of government may include well-being of people and protection of the environment.

Ex.10. Translate into English:

1. Економічнесуспільство є засобом для виживання, де люди мають змогу виконувати завдання виробництва та розподілу.

2. Економічна система - це спосіб відповіді на основні економічні питання – що, як та для кого виробляти.

3. Проблема дефіциту потребує відповіді на питання, такі як:що виробляти, як виробляти, та хто отримає те, що було вироблено.

4. Традиції вирішують, як люди заробляють на життя та як виконується їх робота.

5. У традиційній економічній системі люди виробляють товари та послуги методами, які були винайдені в далекому минулому.

6. В ринковій економічній системі всі питання з виробництва та розподілу вирішують покупці та продавці на ринку.

7. В адмістративно-командній економічній системі держава та уряд контролюють основні сектори економіки.

8. Структура ринкової економіки має шість характерних рис.

9. Немає жодної країни, що має чисту економічну систему, яка на 100 відсотків є традиційною, адміністративно-командною, чи ринковою.

10. Майже всіма засобами виробництва в країні з командною економічною системою володіє уряд.