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2. Write the word next to its definition. The sentences in the previous exercise will help you decide on the meaning of each word.

………………. Something that causes damage, harm, or loss

………………. Best possible; most favourable; most desirable

………………. To criticize or scold harshly

………………. Careful about moral standards; conscientious

………………. Good judgment or tact in actions or speaking

………………. Ability to recover quickly from harm, illness,

or misfortune

………………. A natural preference or tendency

………………. Deserving of blame, criticism, or disapproval

……………….Tending toward or open to something beforehand

………………. Outweighing majority

………………. A feeling of satisfaction with your achievements

which stops you from trying to improve or change things, rest on the laurels

………………. To do sth better than most other people because

you have a natural talent for it, to achieve preeminence and superiority

3. Using the answer line provided, complete each item below with the correct word from the box. Use each word once.

Berate, complacency, excel, detriment, discretion, optimum, predisposed, preponderance, propensity, reprehensible, resilience, unscrupulous

1. The explosion at the chemical plant was the result of ……………………carelessness on the part of an employee.

2. Most of the factory workers are on piecework5 which makes them …………………….. to suffer from constant stress.

3. Many poorer countries have a ……………………….. to produce cheap electrical goods in sweatshops6.

4. Though it has become common practice to ……………………. the production of illegal copies of top brand names which has achieved the level of industrial piracy, we are not immune to buying unlicensed copies of the latest disks.

5. When the economy is modernized you should keep a stiff upper lip7 and retain …………….. for retraining and reskilling.

6. Mass tax evasion is a serious ……………………. to any national economy.

7. A public-private partnership8 is recognized as an …………………….form of running many big industries.

8. Industries cannot grow successfully if there is too much red tape, let alone domination of ………………….. civil servants.

9. You have to use ……………………… in choosing your business partners. If your associates are dishonest, people will think that you yourself may not be relied on. Moreover you can suffer great losses through this dishonesty.

10. Mass ………………….. can trigger stagnation which may be extremely pernicious9 to the welfare of the whole country.

11. He didn’t manage to become really opulent though he took solace in the knowledge that he ………………. as a father figure10.

12. A ……………………. of the mistakes in the usage of tenses showed the student’s woeful ignorance of English grammar.

4. Discussion

● What examples given in the previous exercise are especially topical for our country? What economic problems is Russia facing at the moment? What is your economic outlook – optimistic or pessimistic? What is a good place to invest one’s capital now?

● The phrase “think global, act local” is often quoted. What does it mean to you?

● A lot is said and written about “global organizations”. What do you understand by this phrase? Which organizations are global, in your opinion? Why?

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