Grammar practice
V. Find in the text sentences with the Gerunds and define their forms and functions. See Grammar in Use section if necessary.
VI. Find in the text sentences with the Infinitives and define their forms and functions. See Grammar in Use section if necessary.
VII. Find in the text sentences with the Participles and define their forms and functions. See Grammar in Use section if necessary.
LANGUAGE PRACTICE
VIII. Read sentences and decide if they are right or wrong according to the text
1. A command economy is a society where the government makes all decisions about promotion and consumption.
2. The state owns factories and land, and makes most important decisions on allocation of different recourses in command economy.
3. All allocation decisions are much easier to make through government planning.
4. Consumers spend their incomes on the things that bring little satisfaction.
5. Although motivated by the government, you make society better off by creating new jobs and opportunities.
6. Just some countries are mixed economies, and most are close to command economies.
7. In a mixed economy the government controls a significant share of output through taxation, transfer payments etc.
IX. Answer the questions
1. How do we call a society where markets do not exist?
2. What kind of economy can we nominate as a command one?
3. How were the decisions made under the command economy in the former USSR?
4. What is a free market?
5. What kinds of problems does a free market economy solve?
6. Who and what was Adam Smith?
7. What was the famous idea of Smith about?
8. What are the features of mixed economy?
9. What is the way government controls the output?
10. What are the examples of mixed economies?
11. What type of economy does the USA have?
X. Translate from Russian into English
1. Сложно представить, как ресурсы могли бы распределяться, если бы не существовало рынков.
2. Командная экономика – это общество, где государство принимает все решения о производстве и потреблении.
3. Планирование экономики – очень сложная задача.
4. На свободном рынке государство не вмешивается в процесс распределения ресурсов.
5. Преследование собственных интересов может привести к созданию общества, принимающего разумные решения по распределению ресурсов.
6. В смешанной экономике государство и частный сектор взаимодействуют в решении экономических проблем.
7. Государство может контролировать объемы производства через налоги, трансфертные платежи и т.д.
Speaking
XI. Work in pairs. Choose any country with command or mixed type of economy and define some of its features giving examples.
Tip:
XII. Work in groups. Group A should think about the advantages of market economy. Group B should speak about the disadvantages of this type of economy. Fill in the table
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Advantages of market economy
Disadvantages of market economy
XIII. Make a 2 minutes report on one of the following topics
CHAPTER 3. MACROECONOMICS AND MICROECONOMICS
SECTION 3.1. WHAT IS MACROECONOMICS?
KEY VOCABULATY
Read and remember the following words
deliberately [dІ'lІbərІtlІ] – умышленно, обдуманно
gross domestic product (GDP) [grƆs də'mæstІk 'prƆdəkt] – валовой внутренний продукт (ВВП)
national income [næ∫nl'І:nkəm] – национальный доход
personal income [pə:snl'І:nkəm] – личный доход
personal disposable income [dІ'spƆ:sbl] – личный доход после уплаты налогов
business cycle ['bІznəs saІkl] – экономический цикл
labor shortage ['leІbə '∫Ɔ:tІdʒ] – нехватка рабочей силы
breakdown ['breІkdaun] – распределение, классификация
bundle [bΛndl] – набор, множество
aggregate ['ægrІgeІt] – совокупный
on average [Ɔn'ævərІdʒ] – в среднем
reveal [rІ'vІ:l] – показывать
Find Russian equivalents to the following English word combinations
building blocks, consumer goods, aggregate price level, unemployment rate, labour force, landed gentry, aggregate unemployment, purchase, household, group in question.