Revision Units 8-11

Exercise 1. In each set of words, one word is odd. What is this word?

1. indicate show appear demonstrate

2. consumer buyer user seller

3. commodities goods things products

4. production profit revenue earnings

5. wants needs requirements welfare

6. rise decrease growth increase

7. manufacture produce make show

8. company firm corporation business

9. particular modern given special

10. target aim objective view

Exercise 2. Non-, ir - can be used in front of some adjective to mean not. Write non- or ir- before these adjectives to make their opposites.

essential regular political

perishable respective public

capitalistic responsible industrial

progressive communist agricultural

Now use suitable words to complete the following sentences.

1. Coal, steel, cars, computers – are ________ goods.

2. Most people in African countries can’t afford to buy ________ commodities.

3. Paper is a _________ commodity. It is produced in factories.

4. It’s _________ to ask such a question at the conference. This is of little importance now.

5. It was _________ of the highest officials not to think about the consequences of their economic policy.

Exercise 3. Which terms in the box are defined in sentences below?

utility demand wages

interest capital equilibrium

1. A consumer willingness and ability to buy a product or service at a particular time and place.

2. The price at which goods and services actually change hands.

3. Satisfying individual wants is known in economics as its ________.

4. Payment for the use of someone else’s money or capital.

5. The price paid for the use of labour.

6. Something created by people to produce other goods and services.

Exercise 4. Vocabulary.

a) Match each verb in column A with a verb in column B that has similar meaning.

go down additional

amount priorities

rapidly previous

extra quantity

danger obtain

get provided

done decrease

given performed

earlier risk

preferences sharply

b) Use suitable form of verbs from the list to complete these sentences:

1. The employer _______ the surplus after he pays the necessary expense of his business and the wages of his employees.

2. Labour is any work ________ for an employer at a negotiated rate.

3. Ukrainians must spend a large _______ of money for buying a new flat.

4. Over-production of any commodity may cause prices to fall _______.

5. It was a high _______ to buy these bonds.

Exercise 5. Opposites.

Complete each sentence with the opposite of the word in parenthesis. Choose from the following list. Use each word once only.

macroeconomics increase well-educated fall

exports new began regularly

1. Prices encourage producers to ________ their level of output. (DECREASE)

2. The development of modern economics ________ in the 17^th century. (FINISH)

3. I pay for the use of land_________. (SELDOM)

4. ________is the study of the economy as a whole. (MICROECONOMICS)

5. Business can improve productivity by investing in _______machines and other equipment. (OLD)

6. ________ workers perform their tasks more efficiently. (POORLY EDUCATED)

7. Average price level will _______ next month. (RISE)

8. _______ are goods and services sold to foreign buyers. (IMPORTS)

Exercise 6. Form nouns or adjectives from verbs listed below using the suffixes

-ment, -able. Translate words you have got.