Grammar practice

IV. Find in the text some sentences in the Active Voice, copy them into your exercise books, give simple grammar analysis of these sentences.

V. Find in the text sentences with the Infinitives and define their forms and functions. See Grammar in Use section if necessary.

VI. Find in the text sentences with the Participles and define their forms and functions. See Grammar in Use section if necessary.

Language practice

VII. Define the main idea of each passage in the text

VIII. Scan the text again and define the three basic choices to be made

Tip:

IX. Match the words from the text with corresponding definitions

1. scarcity	a. something that has already been produced
2. to commit	b. to make someone pleased
3. to satisfy	c. lack or absence of something
4. output	d. to put into trust or charge

X. Fill in the gaps

Tip:

1. Economists tend to … this kind of value judgment which tries to specify how much people ought to …. 2. There is a limit to a country's productive capacity because the available … of land, factories, machines, labour and other economic resources is limited. 3. The … available to satisfy our wants, are, at any time, limited in supply. 4. It is not possible to define «need» in terms of any particular quantity of a …, because this would imply that a certain level of consumption is «right» for an individual.

XI. Join the sentence halves below

1. Different methods of production can be distinguished from one another	a. but the problems are common in all societies.
2. The methods of solving them will be different from one society to another	b. on the methods of production to be adopted.
3. A community must make decisions	c. by the differences in the quantities of resources used in producing them.
4. The first and major function of any economic system	d. among the members of the community.
5. The total output has to be shared out	e. to determine in some way the actual quantities and varieties of goods and services which will best meet the wants of its citizens.

XII. Answer the question below

1. What is economics about?

2. What do economists tend to avoid?

3. What resources do we call to be scarce?

4. What is scarcity?

5. Why do we always find ourselves in a situation of scarcity?

6. Why is an individual forced to exercise choice?

7. Why is there a limit to a country's productive capacity?

8. Why do economic resources have alternative uses?

9. What are the problems of choice closely connected with?

10. What is the first and major function of any economic system?

11. What does the total output of the community depend on?

12. What is the way to share the total output among the members of the community?

13. Is there any difference in solving the basic economic problems in different economic societies?