Vocabulary exercises

I. Find equivalents:

1. to conduct transactions 2. in the most efficient manner 3. to act in one’s own best interests 4. to stay out of the way 5. to make profits 6. the lack of significant government intervention 7. to adjust to change over time 8. to stay in business 9. incredible variety 10. to switch to 11. on the other hand 12. market economy

а. отримувати прибуток б. проводити дiловi операцiї в. з іншого боку; у свою чергу г. неймовiрна рiзноманiтнiсть д. не втручатися е. працювати для власної вигоди є. залишатися в бiзнесi ж. переорiєнтуватися з. найбiльш ефективним способом и. ринкова економіка і. змiнюватися з часом ї. брак значного втручання уряду

Match the synonyms:

a buyer, to desire, to make profits, to take care (of), to supply, to conduct transactions, interest, considerable, a purchaser, to allow, benefit, to get profits, variety, to manufacture, to arrange a deal, to provide (with), significant, to look after, tendency, lack, intervention, to permit, diversity, to produce, interference, trend, to wish, absence.

3. Match the antonyms:

to sell, advantage, high prices, to spend money, to decline, flexible, to go out of business, to save money, disadvantage, low prices, worst, to buy, credible, variety, best, uniformity, inflexible, to stay out of the way, incredible, available, to meddle with other people’s business, unavailable, to stay in business, to level off.

4. Fill in the blanks with prepositions or adverbs if necessary:

1. In a market economy, the questions ... What, How and ... Whom to produce are made ... individuals and firms acting ... their own best interests. 2. A market economy is flexible and can adjust to change ... time. 3. Since consumers like products ... low prices and high quality, producers ... a market economy will try to supply such products. 4. Those who make the best products ... the lowest prices will stay ... business. 5. The second major advantage ... the market economy is the freedom that exists ... everyone involved. 6. Except ... national defence, the government tries to stay ... the way. 7. As long as there is competition ... producers, the market economy generally takes care ... itself. 8. The final advantage ... the market economy is the incredible variety ... goods and services available ... consumers.

5. Complete the following sentences:

1. In a market economy the questions of What, How and for Whom to produce are made by ... . 2. In economic term a market is ... . 3. Since consumers like products with low prices and high quality, ... . 4. Those who make the best products for the lowest prices ... . 5. Other producers will either go out of business or ... . 6. A market economy has ... . 7. The first advantage of the market economy is ... . 8. The second major advantage of the market economy is ... . 9. Consumers are free to spend their money or ... . 10. The third advantage of the market economy is ... . 11. As long as there is competition among producers, ... . 12. The final advantage of the market economy is ... .