Exercise 6. Find words in the text synonymous in meaning to the following. Read the sentences containing them.

Task	Text
a buyer
a company
a country
a great deal of
a topic
a type
also
as
both … and …
correct
fundamental
individual
individuals
logical
modern
personally
relations
results
significant
to arrive at a decision
to control
to deal with
to get a living
to influence
to give an opportunity
to need
to reach one’s purpose
well-informed
wisely

Exercise 7. Find in the box the English equivalents to the words listed below. More than one is possible.

1. вибір (3)

2. відслідковувати (2)

3. впливати (3)

4. досягти своєї мети (3)

5. економічні міркування (2)

6. ефективність (3)

7. заробляти на прожиття (3)

8. засоби існування (2)

9. іншими словами (2)

10. мати справу з чимось (3)

11. отримувати/отримати прибуток (4)

12. підприємництво (2)

13. підприємство (2)

14. прибуток (2)

15. приймати рішення (5)

16. проблема (4)

17. прожитковий мінімум (2)

18. результат (3)

19. спосіб (2)

20. так чи інакше (2)

21. управляти (2)

to affect	to deal with		to trace	to gain a living	a firm		a living
to do with	a trade-off		a result	a means	a way		to manage
a matter	in some way		business	a consequence	a profit		to influence
efficiency	a livelihood		to run	a method	an effect		productivity
a choice	an enterprise		to decide	an income	a problem		to track
a question	a living wage		an issue	in other words	to put it another way
to draw a profit		an alternative		to make a decision		to achieve one’s aim
to earn a living		entrepreneurship		performance		economic reasoning
to reach one’s goal		to take a decision		to make a living		to be concerned with
economic thinking		to make a profit		to earn a profit		to come to a decision
to have an effect on		a cost of living		one way or another		to gain one’s purpose

Exercise 8. Replace the words or word combinations in bold type with their synonyms.

1. Everyone, from the child to the elderly, is affected, one way or, by the economy as well as by economics.

2. Most of people study economics to better realize the consequences of the important economic problems with which they come face to face every day.

3. Economics enables people to take their decisions about how to make their living and achieve their goals in order to improve their own welfare.

4. The study of economics helps us to trace cause and effect relationships of issues involving inflation, unemployment, poverty as well as economic growth and budget deficit.

5. By studying economics, we will improve an analytical, clear and critical way of economic thinking to consider alternatives.

6. Economics is a social science that deals with (do with, be concerned with) society's decisions concerning resources allocation in the most efficient way.

7. Economics teaches businessmen how to organize their own enterprises and use productive resources to achieve the greatest productivity.

8. In a democracy government applies to economics to determine its economic policies which, in turn, have an effect on the achievements of a nation’s economic goals.

9. Knowledge of economics enables businessmen to gain the greatest possible profits with the least possible production costs.

Exercise 9. At least one word or word-combination has been omitted from each of these sentences. Fill in the blanks from the list of missing words below and translate them into Ukrainian.

1. As ____________ any citizen in a democracy can express his or her opinion on many matters involving ______________________. – ________________________

____________________________________________________________________________________________________________________________________________________________________________________________________________

2. Knowledge of economics helps people improve ___________________________ and enables them to succeed in ______________________. – ___________________

________________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________________

3. The study of economics teaches people a way of ____________________ to track _____________________________ carefully. – _____________________________

________________________________________________________________________________________________________________________________________

____________________________________________________________________

4. You cannot understand how society works without _________________________

_____________ and you cannot realize ______________________ without knowing its economic history. – __________________________________________________

________________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________________

5. One of the reasons people learn economics is that the study of economics _______

________________ how people ________________. – ________________________

________________________________________________________________________________________________________________________________________

____________________________________________________________________

6. Economics enables businessmen _____________ more intelligent ____________

____________ in order to meet competition in ______________________________

________________. – __________________________________________________

________________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________________

7. Since economics teaches _______________________ it enables us to become _________________________ of the workforce and ________________ and __________________ citizens in a democracy. – _____________________________

________________________________________________________________________________________________________________________________________

____________________________________________________________________________________________________________________________________________________________________________________________________________

8. By ____________________ we earn we can improve our ___________________

___________. – _______________________________________________________

________________________________________________________________________________________________________________________________________

9. The study of economics develops _____________________ that are important for business management. – ________________________________________________

________________________________________________________________________________________________________________________________________

earn a living	economic reasoning		economic issues	managing money
knowledgeable	standard of living		responsible	to arrive at
business decisions	business skills		efficient members	the business world
is concerned with	a voter		the market for a particular commodity
the decision-making process		basic knowledge of economics		a society’s economy