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V. Form and translate them into Russian

a) nouns of the following verbs using the suffixes, -ion, -ment, -ing

communicate, develop, govern, explain, depress, define, live, equip, restrict, affect, invest, distribute, produce, shop, select, satisfy, dwell, manage

b) nouns of the following adjectives using the suffixes -(e)ance, -ity, -y, -e, -ion, -s

rental, economic, distributive, scarce, consequent, competitive, available, selective, influential, helpful, restrictive, responsible, definite, productive, managerial, exchangeable

VI. Agree or disagree with the following statements

1. Nowadays all young people know they can have everything. 2. Every year politicians argue on how to spend their taxpayers’ money. 3. Is you seek the production of one thing you should reduce your consumption rates. 4. Economics is a political science as it reveals and analyzes the government policy. 5. We live in the society, so there’s no escaping economics. 6. One of the common definitions of economics is “the study how people make money”. 7. The development of modern economics dates back to the 17th century. 8. Microeconomics operates on a national level, while macroeconomics is an international science.

VII. Arrange the words of the two groups in pairs with contrary meaning

  1. profit, earner, produce, demand, poverty, activity, goods, exchange, restrict, efficient

  2. change, inefficient, depression, prosperity, supply, destroy, spender, loss, services, allow

VIII. Make up your own sentences using the following words and word combinations

to get the most from smth., satisfy one’s needs, go through life, efficient use, deal with subjects intelligently, face a choice/ a problem, influence decisions, take smth. into account, make living, efficient use, go through life, satisfy one’s needs, to get the most from smth., to economize, consumption, management of resources, resources are completely employed, distribution and consumption of commodities, available economic resources, profit margin, economic issues

IX. Fill in the blanks with the prepositions given below:

On, up, with, from, in, for

1. To get the most … this situation you should deal … our executive director. 2. The government must focus … the question how to spend taxpayers’ money more efficiently. 3. Knowledge in economics is very helpful … performing the duties of executive director. 4. Could you suggest any ways … making our budget more profitable. 5. This house is … sale.

X. Read the text again and say which of the following replies is correct.

1. Economic issues have occupied people’s …

a) minds, b) hands, c) heads.

2. There is a limit to the resources used to produce goods and services available to … people's wishes and needs.

a) sacrifice b) make c) satisfy

3. Economy is a careful or thrifty use or management of resources, such as … , materials or labour.

a) fees b) income c) salary

4. Economic … also influence decisions in the world of business.

a) strengths b) powers c) forces

5. The study of economics will help us to deal with such subjects … .

a) carefully b) intelligently c) thoroughly