Comprehension check.

Exercise 1.

1-T, 2-F, 3-F, 4-T, 5-T, 6-F, 7-F, 8-F, 9-T, 10-T, 11-T, 12-T.

I.

1-a, 2-b, 3-b, 4-a, 5-b, 6-a, 7-a, 8-a, 9-a, 10-b.

II.

1. Human behaviour is really a puzzle in a broad sense of the word.

2. Economists may develop simple models making simplifying assumptions.

3. Natural sciences can conduct controlled experiments in laboratories.

4. Economics has no laboratories; the real world is its laboratory.

5. Government intervenes in the economy to purchase goods and services which are useful for the society as a whole.

6. Many individuals don’t want invest their money into national defence, missiles for example, into satellites, fire brigades, social services.

7. Many rich people try to conceal their real income in order not to pay big taxes.

8. Some categories of people like children, handicapped, the elderly – are not capable to provide themselves even with the necessities.

III.

1-an; 2-zero; 3-the; 4-zero; 5-an; 6-zero; 7-zero; 8-an; 9-a; 10-zero; 11-zero; 12-zero.

IV.

2-its; 3-it; 4-no one; 5-they; 6-their, they; 7-their, they.

VI.

1-was; 2-he; 3-at; 4-graduated; 5-he; 6-was; 7-he; 8-his.

VIII.

Compared with; under tightly controlled conditions; it can be said; in order to; other things remain constant; turn out to be; in broad sense of the word; as a whole; of your own; standard of living.

IX.

1. Economics is a social science.

2. It has little in common with natural sciences.

3. Economists lack the ability to make the precise predictions with accuracy.

4. The main reason of that is human behaviour, which is impossible to predict.

5. Physicists can make their experiments in the laboratories under tightly controlled conditions.

6. Economists don’t have such laboratories; the real world is their laboratory.

7. Nevertheless, economists develop simple models due to simplifying assumptions.

8. In their assumptions economists can say “other things remain constant”, but they can’t hold them constant actually.

9. Human behaviour is very unstable, changeable.

10. Government intervenes in the economy to buy goods and services people refuse to pay directly.

11. Government buys them on money from taxes.

12. Government pays for national defence, police, social security, welfare, unemployment benefits.

Unit 4.

2.

1. consequences of following certain policies	наслідки дотримання певної політики
2. ultimately	у кінцевому підсумку, врешті-решт
3. by appealing to	звертаючись до...
4. evidence	свідотство, очевидний факт
5. statement of value	твердження, яку дає оцінку виходячі з власної думки
6. plenty of scope	багато можливостей, сфер
7. schools of thought	наукові школи
8. political right	політики правого напряму, праві політики
9. political left	політики лівого напряму, ліві політики
10. highly controversial	дуже спірний, суперечливий
11. adhere to	дотримуватися чогось; залишатися вірним певним принципам
12. major role	головна роль
13. competing models	конкуруючі моделі; моделі, що конкурують
14. accuracy	точність
15. desirable or undesirable	бажаний або небажаний
16. opposing views	протилежні точки зору
17. to amend	покращувати, поліпшувати, виправляти
18. card	візитна картка
19. welfare	добробут
20. prosperity	процвітання, розквіт

Politics means the ideas and activities involved in getting power in a country or over particular area; it is the art of science of government.

Policy is a set of plans or actions agreed on by a government political party, business or other group; it is a prudence of wisdom in the management of affairs.