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Тема 3 (2011). Економіка. Основні економічні пи....doc
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  1. Find equivalents:

1. monetary value

2. tangible things

3. paradox of value

4. nation’s wealth

5. country’s total worth

6. scarcity

7. to be useful to someone

8. valuable coin

9. to be essential to life

10. utility

  1. economic concept

  2. a great deal of

  3. on the other hand

  4. contribution

  5. natural resources

a. дефiцит

б. цiнна монета

в. бути корисним комусь

г. бути необхiдним для життя

д. з іншого боку

е. загальне багатство країни

є. національне багатство

ж. економiчне поняття

з. внесок, вклад

и. реальнi речi

i. природні багатства

ї. парадокс вартості

й. багато

к. кориснiсть

л. грошова вартiсть

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

1. The value is determined ... the price someone would pay ... the product. 2. The diamond-water paradox is known as the paradox ... value. 3. ... order to have value, it has to be somewhat ... scarce. 4. The utility ... goods or services may vary ... one person ... the next. 5. One person may, for example, get a great deal ... enjoyment ... a home computer, another may get very ... . 6. Most ... economic goods are counted ... wealth, but services are not. 7. It is difficult to measure the contribution made ... people’s abilities and talents ... a nation’s wealth. 8. A country’s total worth is the stockpile ...useful, scarce, transferable and tangible things ... existence ... a given time.

IV. Match each term in Column a with its definition in Column b:

Column A Column B

1. coin

a. The stockpile of useful, scarce, tangible things in existence at a given time.

2. wealth

b. Goods that are scarce relative to the total amount of those that are desired.

3. scarcity

c. The paradox that many necessities of the life have a low market price, while many luxuries with little use have a high market price.

4. economic goods

d. The total satisfaction derived from

the consumption of goods or services.

5. paradox of value

e. The total value of one’s tangible assets.

6. utility

f. The worth of smth in terms of money or other goods for which it can be exchanged.

7. country’s total worth

g. A limit to the supply of productive resources

or consumer goods in relation to the producers or consumers demand for them.

8. value

h. Metallic forms of money.

  1. Define which of the following items best completes the statement:

Scarcity is a condition that

a. exists only in poor countries.

b. only poor individuals experience.

c. all individuals and societies face.

d. rich people never experience.