- •What is economics
- •I. Practise the pronunciation of the following words:
- •II. Before you read answer the following questions:
- •III. Read and memorize the following words and word — combinations:
- •IV. Text a What is economics
- •V. Give the English equivalents of the following:
- •VI. Fill in the gaps with the words and expressions from the text a:
- •VII. Find pairs of words as they occur in the text:
- •VIII. Answer the following questions:
- •IX. Match the following terms with their definitions:
- •X. Increase your vocabulary:
- •XI. Fill in the gaps with the words from the list:
- •XIII. Text b a. Match the equivalents before reading:
- •The basic economic problem
- •XIV. Find in the text:
- •XVIII. Work in groups and discuss what is the key sentence of economics.
- •IV. Fill in the blanks with articles wherever necessary:
- •V. Put the Infinitives in brackets in the Past Continuous:
- •VI. Refer the following sentences to the past:
- •VII. Each of these sentences has a mistake in it. Write the correct sentences:
XVIII. Work in groups and discuss what is the key sentence of economics.
GRAMMAR
I. Give the plural of the following nouns:
German, company, datum, income, watch, businessman, crisis, key, choice, policy, person, index, life, examination, revenue, half, embargo, sheep, ATM, fish, economy, workday, month.
II. Put the following nouns in the right columns:
news, auspices, statistics, glasses, savings, police, money, economics, jeans, earnings.
A ( singular) B ( plural)
III. Determine the meaning of the definite, indefinite, and zero articles:
1. We are examining the mechanism of trade.
2. Understanding how an economy works and carefully examining different perspectives on the economy frequently require quantitative measures of economic activity.
3. Who are the poor?
The Prime Minister is expected to visit France at the end of the month.
President of Ukraine met English Prime Minister and won his support for the new government's reforms.
6.The first economic question is « for whom «.
7. New York is situated in the mouth of the Hudson river.
8. This is rather a difficult economic problem for our society.
9. The EU is the world's 2nd largest consumer of oil, consuming at 14480000 barrels a day.
IV. Fill in the blanks with articles wherever necessary:
1. Suppose that ___ Norway and ___ Sweden produce ___ fish from ___ sea and___meat from ___ land in about ____same amount, but ___ Swedes have ____ fondness for ___meat while Norwegians are practical for ___fish.
2. US has higher output per worker than rest of world.
4. If economy imports goods, individuals within economy have more goods to consume.
5. EU has become most powerful trading block in world.
6. President of America is going to visit our country.
V. Put the Infinitives in brackets in the Past Continuous:
You (to analyze) productivity when you (to study) the factors of production.
That year the population ( to grow ) at a faster rate than production.
Businesses ( not to earn ) higher returns the whole month.
The company (to raise) prices for the goods during last year?
5. When I (to read) the newspaper yesterday, I found an interesting article about Adam Smith.
The standard of living ( not to increase) from 1995 till 1997.
Our economy (to grow ) at that time.
We (to study ) macroeconomics the whole semester.
9. Students ( to discuss ) the problem of scarcity when the dean came.
10.What we collectively (to consume ) during the year was what our economy produced.
VI. Refer the following sentences to the past:
1. Economic incentives influence our decisions about what and where to buy.
2. What you see at the auction is the rationing effect of prices. 3 Prices encourage producers to increase their level of output.
4. They sell these goods because they want to have a profit from such transactions.
5. Adam Smith describes the principal elements of the economic system.
Is the need to choose imposed on us by our income?
What does economics study?
Prices don't direct command economy.