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Латыгина Базовый курс економики на англ.doc
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Ex.7. Look at the words and phrases in the box. Match them with the correct definition from the list below:

  1. the level of material comfort and wealth that a person or a community has;

  2. an amount that must be paid when particular goods are imported into a country, or sometimes when they are exported;

  3. a limit on the amount of a particular good that may be imported into a country during a given period of time;

  4. a set of restrictions imposed by a government on buying and selling foreign currencies;

  5. an obstacle;

  6. trade between countries with few government restrictions;

  7. a system of import controls set up by a government to protect the country’s agriculture and industry from foreign competition;

  8. inside a particular country.

Ex.8. Write the appropriate word or phrase in the following spaces. Translate the sentences into Ukrainian.

  1. The country depends on … trade.

  2. I hope this new job will give me a better … .

  3. … barriers can make trade difficult.

  4. The government fixed a … on the number of foreign cars allowed to be sold in the USA.

  5. The United Kingdom removed all … long time ago.

  6. The General Agreement on Tariffs and Trade (GATT) is an international organization whose goal is to eliminate tariffs and other … to international trade.

  7. … trade among nations results in increased competition and lower prices.

  8. This company is the largest … of steel.

  9. The government raised the price of imported goods to protect … goods.

national producer; free; barriers; exchange controls; domestic, quota; tariff; living standard; international

Ex.9. Fill in the missing prepositions:

A foreign-exchange control is a restriction … the amount … a particular currency that can be purchased or sold. … limiting the amount … foreign currency that importers can obtain, a government limits the amount … goods that importers can purchase … that currency. This has the effect … limiting imports … the country whose foreign exchange is being controlled.

(on, of (4), by, from, with)

Ex.10.These words are often confused: to provide – to secure – to ensure

to provide

to give someone something they want or need

to secure

to get or achieve something important; to make an area or building safe

to ensure

to make sure that something happens or is done

Complete these sentences using the correct form of one of the words above. Make your own sentences to show that you understand the difference in their meaning.

  1. My job … me with the opportunity to meet new people every day.

  2. People need a job to … their independence.

  3. Our company will soon … a full account of its investment activities.

  4. I was very pleased with the room you … me with.

  5. I … that the house was protected by locking all the doors.

  6. My department … advice for those who plan to set up a business.

  7. The company has … all the workers who use dangerous machines.

  8. She has … a good job.

  9. I can’t … that he will be there in time.

  10. Can you … me two good seats for the concert?

  11. We … legal advice to our clients.

  12. Our new research strategy … that we get the best possible results.

Exercises in Comprehension Ex.1. Answer the following questions:

  1. What is international trade?

  2. Why do countries engage in international trade?

  3. Does international trade influence domestic prices?

  4. Do governments control international trade?

  5. What are the most common protectionist measures?

  6. What reasons are generally given for imposing trade barriers?

  7. What is free trade?

  8. What is free trade area?