Vocabulary

economy – экономика, хозяйство

cause-and effect relationships – причинно-следственные связи

consumption - потребление

to examine – исследовать, рассматривать

income - доход

price - цена

production – производство

TASKS

Task 1. Find in the text irregular verbs and give their proper forms.

Task 2. Give corresponding verbs to the following nouns.

production

consumption

relationships

examination

payment

choice

Task 3. Form nouns from the given verbs.

present, produce, distribute, develop, grow, describe, divide, select, change, discuss, decide, use, manage.

Task 4. Give anonyms to the following words:

fast

total

micro

Task 5. Give Russian equivalents to the following word combinations:

… two ways of looking at…

… the study of the e3conomy…

… is concerned with…

Task 6. Finish up the sentences and translate them into Russian

1. Macroeconomics is the study …

2. Microeconomics examines …

3. Much attention is paid by microeconomics…

Task7. True or false?

1. Economists have several ways of looking at economics and economy.

2. Microeconomics is the study of the cause-and-effect relationships that influence choices of individuals and society, but not business firms.

3. Macroeconomics is concerned with consumption.

Task 8. Answer the following questions.

1. What is the difference between micro-and mcroeconomics?

2. What questions does macroeconomics examine?

3. What problems does microeconomics study?

Text 3. Factors of production (I)

The resources that are used for the creation of goods and services are called the factors of production. They include natural resources (or “land”), human resources (or “labour”), capital and entrepreneurship.

Natural resources are the things which are provided by nature. They include minerals, wildlife and timber resources. Economists use the term “land” when they speak of natural resources as a factor of production. The price paid for the use of land is called rent.

Vocabulary

capital - капитал

entrepreneurship - предпринимательство

factors of production – факторы производства

human resources – человеческие ресурсы

labour (labor – Am.) – труд, работа, рабочий класс

rent - рента

wildlife and timber resources – живая природа и ресурсы древесины

TASKS

Task 1. Look through the text and write out the sentences where the passive voice is used.

Task 2. Form the passive infinitive.

Model: to do – to be done

to buy, to see, to include, to create, to study, to limit, to choose, to satisfy

Task 3. Give anonyms to the following words.

to use

to include

to create

natural

individual

wild

Task 4. Find the beginning of the sentences in the text and translate them into Russian.

1. … are called the factors of production.

2. … the things which are provided by nature.

3. …is called rent.

Task 5. Which one doesn’t logically fit the group?

1. human, natural, rent, wild;

2. used, called, include, provided;

3. is, and, am, are.

Task 6. Use a dictionary and find out the difference between the following words:

human – humane

Task 7. Translate the following sentences with the passive voice forms.

1. These products have been designed by a special team.

2. Raw materials and agricultural products are usually sold in open markets.

3. An industry which is being increasingly mechanized may employ less labour but6 increase its output.

4. Countries are often described as developed and developing.

5. The precious metals were first used as money on the basis of weight.

6. A new manager has just been appointed.

Task 8. Answer the following questions.

1. What are the factors of production?

2. What is the price for the use of land called?