- •Introduction
- •10. Look at the following topics:
- •Why Study Economics?
- •Why study economics?
- •Exercise 3. Answer the following questions.
- •Part 1 Unit 1 Economic Activity
- •Unit 2 The Science of Economics
- •Unit 3 Different Economic Systems
- •Unit 4 The Limits on Economic Freedom
- •Revision Units 1-4
- •In ...Formal ...Successful
- •Individual formal capital future ideal
- •Impression journal real commune imperial
- •Vocabulary
- •The Role of the Market
- •Unit 5 Central Control of the Economy
- •Unit 6 Mixed Economies
- •Revision Units 1-7
- •Exercise 3. Economic Vocabulary Quiz
- •Capitalism
- •Free-Market Economy
- •Part 2: unit 8 Utility and Prices
- •Unit 9 Supply and Demand
- •Unit 10 Some Economic Laws
- •Revision Units 8-11
- •Invest accept market manage employ
- •Vocabulary
- •Law of Demand
- •Unit 11 Labour and Capital
- •Unit 12 Markets and Monopolies
- •Unit 13 The Open Market
- •Unit 14 Money and Banking
- •Revision Units 12-13
- •Organisation of the european system of central banks (escb)
- •Revision Units 1-14
- •Factors of production
- •A Short History of the European Monetary System
- •Part 3 Supplementary Texts
- •1. Markets
- •Breaking records
- •Exercise 3. Match the words (1-10) with their definitions (a-j).
- •Profit a. The administration of the material resources of an individual, community or country
- •2. The economy
- •3. National-income accounting
- •Who Gets gdp?
- •4. Measuring economic activity
- •The Output Approach
- •The Income Approach
- •The Expenditure Approach
- •5. Economic fairness and the distribution of economic rewards
- •6. Public goods, information and uncertainty
- •Public Goods
- •Global public goods
- •7. Inflation
- •Money and Inflation
- •What Causes Inflation?
- •8. The global economy and
- •International trade
- •Regulation of international trade
- •Risks in international trade
- •Economic risks
- •Political risks
- •Introduction 4
Introduction 4
Part 1
Unit 1. Economic Activity 5
Unit 2. The Science of Economics 9
Unit 3. Different Economic Systems 13
Unit 4. The Limits on Economic Freedom 17
Revision Units 1-4 21
Unit 5. Central Control of the Economy 26
Unit 6. Mixed Economies 32
Unit 7. Revision and Conclusion (Units 1-6) 38
Revision Units 1-7 42
Part 2
Unit 8. Utility and Prices 51
Unit 9. Supply and Demand 57
Unit 10. Some Economic Laws 62
Revision Units 8-11 66
Unit 11. Labour and Capital 73
Unit 12. Markets and Monopolies 79
Unit 13. The Open Market 85
Unit 14. Money and Banking 93
Revision Units 12-13 99
Revision Units 1-14 107
Part 3 Supplementary Texts
1. Markets 119
2. The Economy 123
3. National-Income Accounting 127
4. Measuring Economic Activity 135
5. Economic Fairness And The Distribution Of Economic Rewards 141
6. Public Goods, Information and Uncertainty 151
7. Inflation 157
8. The Global Economy and International Trade 164