3.10. Дайте відповіді на запитання.

1. Why are necessities less sensitive to price changes?

2. When is a good or service considered to be highly elastic?

3. When is elasticity greater than one?

4. When is the supply curve steeper?

5. What goods and services are considered necessities?

Варіант №4

4.1. Поставте наступні іменники у множину та перекладіть.

Shoe, play, staff, map, fly, class, statesman, motto, knife, ox, louse, brother-in-law, ghetto, deer, hotel-keeper, bookmaker, woman-doctor, forget-me-not, genius, stimulus, lacuna, spectrum.

4.2. Перепишіть речення, замінюючи іменники в однині на форму множини. Зробіть відповідні зміни в реченні та перекладіть.

1. This is an English dictionary.

2. I have hurt my foot.

3. A copy of the letter was sent to my sister.

4.3. Замініть, де можливо, іменник з прийменником of на форму присвійного відмінку. Перекладіть рідною мовою.

4.3.1. The voice of his sister.

4.3.2. The surface of the Earth.

4.3.3. The house of these children

4.3.4. The friends of Pete and Mike.

4.3.5. The proposal of my client Mr. Brown.

4.4. Перекладіть англійською мовою.

4.4.1. Його заробітна платня дуже висока.

4.4.2. Торговка винесла товар до зали.

4.4.3. Зміст листа був неочікуваним.

4.4.4. Це не його гроші, вони мої.

4.4.5. Які новини ти бажав мені розповісти?

4.4.6. Де мої окуляри?

4.4.7. Кримській лук солодкий.

4.5. Розкрийте дужки та поставте дієслово у потрібному часі групи Indefinite чи Continuous. Перекладіть рідною мовою.

4.5.1. It ... much to stay at that hotel. (not to cost)

4.5.2. This time tomorrow they ... (to sit) in the train on their way to Kiev.

4.5.3. Hi Greg, you ... (to leave) a note that you ... (to want) to see me.

4.5.4. He glanced my way to see if I ... (to listen).

4.5.5. Run downstairs, your sister ... (to wait) for you.

4.5.6. You ... (to arrive) in Paris tomorrow evening?

4.6. Перекладіть англійською мовою.

4.6.1. Батько нагорі? Я не бачив його.

4.6.2. Давай я наллю тобі води, в тебе досі тремтять руки.

4.6.3. Я запам’ятаю це та ніколи не пробачу.

4.6.4. Навіщо ти зараз миєш підлогу, ми будемо пересувати меблі?

4.6.5. Я не знала, чому зараз плакала.

4.6.6. Коли ти спатимеш уночі, я буду сидіти в літаку.

4.7. Вставте займенники some, any, no. Речення перекладіть.

4.7.1. I don't think there is ... milk left in the jug.

4.7.2. Will there be ... body at the club so early?

4.7.3. ... body was there before us.

4.7.4. He wants ... more juice, you can take it away.

4.7.5. Could ... thing happen to her?

4.8. Заповніть пропуски одним із наданих слів: intervention, crowd out, fluctuate, demand management, protectionism deregulation, infrastructure. Речення перекладіть.

4.8.1. … − the ending or relaxing of legal regulations or restrictions in a particular industry (e.g. finance, television).

4.8.2. … − the Keynesian policy of stimulating an economy in a period of recession, and contracting the economy if it overheats.

4.8.3. … − the neutral term that describes governmental action in the economy.

4.8.4. … − all the services such as roads, railways, electricity, telephones, etc. that exist in developed countries.

4.8.5. … − reduce the amount of money available for private investment by increasing government borrowing.

4.8.6. … − The practice of restricting imports in order to increase the sales of domestic products.

4.8.7. … − To change constantly, to show irregular variation.

9. Перепишіть текст за фахом та перекладіть його рідною мовою.

We have already seen that the focus of economics is to understand the problem of scarcity: the problem of fulfilling the unlimited wants of humankind with limited and/or scarce resources. Because of scarcity, economies need to allocate their resources efficiently. Underlying the laws of demand and supply is the concept of utility, which represents the advantage or fulfillment a person receives from consuming a good or service. Utility, then, explains how individuals and economies aim to gain optimal satisfaction in dealing with scarcity.

Utility is an abstract concept rather than a concrete, observable quantity. The units to which we assign an "amount" of utility, therefore, are arbitrary, representing a relative value. Total utility is the aggregate sum of satisfaction or benefit that an individual gains from consuming a given amount of goods or services in an economy. The amount of a person's total utility corresponds to the person's level of consumption. Usually, the more the person consumes, the larger his or her total utility will be. Marginal utility is the additional satisfaction, or amount of utility, gained from each extra unit of consumption.

Although total utility usually increases as more of a good is consumed, marginal utility usually decreases with each additional increase in the consumption of a good. This decrease demonstrates the law of diminishing marginal utility. Because there is a certain threshold of satisfaction, the consumer will no longer receive the same pleasure from consumption once that threshold is crossed. In other words, total utility will increase at a slower pace as an individual increases the quantity consumed.

Take, for example, a chocolate bar. Let's say that after eating one chocolate bar your sweet tooth has been satisfied. Your marginal utility (and total utility) after eating one chocolate bar will be quite high. But if you eat more chocolate bars, the pleasure of each additional chocolate bar will be less than the pleasure you received from eating the one before - probably because you are starting to feel full or you have had too many sweets for one day.