2 A romantic novelist writes 300-page books. She writes ten pages a day, and takes no holidays. Use the future perfect to answer the questions:

1 How many pages will she have written after ten days? After a month? After a year? After ten years?

2 If she starts today, how soon will she have finished her first book? How many books will she have written a year from now?

3 How long will she have been writing when she has written 120 books?

4 She earns £100,000 per book. How much money will she have made altogether after her 120th book?

3 Complete the following sentences with a verb in the Future Perfect Simple or Continuous:

1 By the year 2020, many cities …………………………… (double) in size.2 By the year 2100, world population …………………………… (rise) to more than six billion.3 We …………………………… (use up) many of the world's natural resources.4 Hopefully, we …………………………… (discover) alterna-tive sources of energy.5 Robots …………………………… (replace) people for many boring jobs.6 Per-haps we …………………………… (find) a way to secure world peace. 7 Scientists ………………………

…… (learn) to control the weather. 8 By 2025 we …………………………… (live) in London for 14 years. 9 He ……………………….. (write) a book by the end of the week. 10 He ………………………………… (write) this book for 3 months by the end of this week. 11 …………………………… (you finish) this project by the next week? 12 We ………………………………… (be married) a year on June 25th.

4 Answer the questions about you. What will you have done…

- by the end of this lesson?

- by 8 o’clock this evening?

- by the end of this week?

- by next autumn?

- by the time you are 30?

15 The economy

economy - господарство; економіка factors of production - чинники виробництва opportunity costs - оптимальні витрати economics - економіка (як наука) production possibilities - виробничі можливості input – витрати

law of increasing opportunity costs - закон зростання оптимальних витрат economic growth - економічне зростання market mechanism - ринковий механізм available – доступний output – випуск продукціі, продуктивність

The economy is for us. «The economy» is an abstraction that refers to the sum of all our individual production and consumption activities. To produce anything, we need resources, or factors of production. Factors of production are the inputs – land, labour, and capital (buildings and machinery) we use to produce final goods and services (output).Unfortunately, the quantity of available resources is limited. We cannot produce everything we want in the quantities we desire. Resources are scarce relative to our desires. This fact forces us to make difficult choices. Economics is often defined as the study of how to allocate scarce resources.

Opportunity costs exist in all situations where there are not enough available resources to satisfy all our desires.Production possibilities are the alternative combinations of final goods and services that could be produced in a given time period with all available resources and technology.According to the law of increasing opportunity costs we must give up everincreasing quantities of other goods and services in order to get more of a particular good.Economic growth is an increase in output; an expansion of production possibilities.

Over time the quantity of resources available for production has also increased. Each year our population grows a bit, enlarging the number of potential workers. Our stock of capital equipment has increased even faster. In addition the quality of our labor and capital resources has improved, as a result of more education (labour) and better machinery (capital).

Market mechanism is the use of market prices and sales to signal desired outputs (or resource allocations).The essential feature of the market mechanism is the price signal. If you want something and have enough money, you buy it. If many people do the same thing, the total sales of that product will rise, and its price may rise as well. Producers, seeing sales and prices rise, will be inclined to increase production.