3. Give English equivalents

Производить товары Оказывать услуги Смешанная экономика Экономно расходовать ресурсы Государственная собственность Распределять ограниченные ресурсы Собирать данные Цены на потребительские товары

Главная черта Государственное регулирование Закон спроса и предложения Принимать решения Экономическая деятельность Плановая экономика Частная собственность Исследование рынка Распределение дохода

4. Choose the odd word out in each group

1. market – based – planned – mixed

2. inflation – wages – tax – accounting

3. consumption – production – competition – allocation

4. consumer – employer – analysis – economist

5. economics – economic – economy – economical

6. supply – statistics – law – economics

7. basic – scarce – limited – rare

8. public property – freedom of enterprise – competition

9. consultant – monitor – predict - examine

5. Complete the sentences with an appropriate word

North Carolina is the fourth largest __________ of tobacco	producer/production
The company ________ 53.000 people	employs/employer
Sony Ericsson is one of Nokia’s ___________	competition/competitor
Texas Instruments ________ Nokia with parts for mobile phones	suppliers/supplies
Last lesson we listened to a lecture about technology and its effect on modern __________	social/society
The government ________ one million dollars for disaster relief	allocated/allocation
Economists can _________ economic trends of a country	prediction/predict
There seem to be so many rules and _______ these days	regulate/regulations

6. Decide whether these statements are True (t) or false (f)

1. Economics aims to solve the conflict between limited people’s wants and unlimited resources.

2. Milk, fish and meat are consumer goods.

3. Economists can consult the government about money allocation.

4. Three basic types of economy are government, business and consumers.

5. A situation when two or more businesses try to sell the same type of product to the same customer is called competition.

6. Consumers and businesses take economic decisions in a planned economy.

7. An economic system in which private property is almost totally restricted is called a mixed economy.

8. An economic system in which the government regulates and owns some businesses is called market economy.

7. Complete the table about economic systems

Features	Market economy	Planned economy	Mixed economy
Government regulation
Freedom of choice
Competition
Type of property
Supply and demand