Put these words in the sentences given below
1. We all hope that _________________ will get better in the future.
2. The office of the company is closed today because all its ______________ are on strike.
3. Business activity ________________ people as workers and pays them wages.
4. In market economy no planners have to be ______________________ .
5. The rising ____________________ may lead to many social as well as economic problems.
6. ___________________ of the new staff will be in September
7. When composing a job advertisement take into consideration that you must name the position you _______________________ for.
8. Some businesses _____________ thousands of people with operations in many different countries.
9. The director of our company prefers ________ intelligent, sociable and hard working people.
Ex. 21. Fill in the gaps with prepositions.
1. Even _____ the economically advanced countries there is a question _____ survival.
2. The system is based _____ private enterprise _______ private ownership _____ the means ______of production.
3. Market economies are directed _______ prices.
4. _____ traditional societies, people use methods ____ production and distribution that were devised _____ the distant past.
5. In these societies we find that the division ____ land____ the families____ the village or tribe, the methods and times _____ planting and harvesting all are based _____ tradition.
6. The economy _____ a country is affected _____ political changes both at home and abroad.
7. Changes ____ taste and fashion can influence the demands _____ many consumer goods.
Ex. 22. Match the verbs in column A with the nouns in column B.
A B
to own the consumers
to pay problems
to make wages
to employ means of production
to increase workers
to keep disadvantages
to create a profit
to charge monopolies
to avoid income
to solve production
Ex. 23. Generate other forms from these words.
| Verb | Noun | Adjective |
| manager | ||
| to profit | ||
| to lead | ||
| competitive | ||
| education | ||
| to create | ||
| mixed | ||
| usage | ||
| to free | ||
| enjoyable | ||
Ex. 24. Make up sentences with the jumbled words.
1. the means of production / private individuals / by / a market economy / are owned..
2. by / are directed / market / prices / economies.
3. government / there is no / land / over / labour / control / capital / and.
4. to buy / free to choose / what / consumers / are / want / they.
Ex. 25. Translate these sentences into Russian paying special attention to the noun means
and the verb to mean.
1. To start business a manufacturer should buy the necessary means of production.
2. Nowadays people can easily communicate with each other by means of the Internet.
3. Oligopoly means a market condition on which relatively few firms produce identical or similar products.
4. A high tariff on imported goods is a possible means to reduce domestic demand for these goods.
5. For many developing countries the US assistance meant economic dependence.
6. New means of communication have appeared with the introduction of computers in people’s life.
7. The development of trade relations will mean larger international income.
8. A plane is known as the quickest means of travel to the farthest places on the earth.
COMPREHENSION
Ex. 26. Find the false sentences and correct them using the information from the text.
1. In a market economy the means of production are state-owned.
2. Workers are paid wages according to their skills.
3. In a market economy there is government control over land, labour and capital.
4. Firms make more of the less profitable goods and fewer of the more profitable goods.
5. Market economies are directed by prices.
6. In a market economy workers have no incentive to work hard as they can’t keep most of their income because of the high taxes.
7. There are no “pure” market economies in the world today.
8. The United Kingdom is the country with command economy.
Ex. 27. Multiple choice. In the space provided, write the letter of the item that best
Completes the statement.
____ 1. Individuals and businesses have the greatest say about what is produced in
a. market economies.
b. traditional economies.
c. command economies.
d. all economic systems.
____ 2. In this country goods and services are produced in much the same way as long
as anyone can remember. Occupations are determined at birth. The country
has
a. market economy.
b. traditional economy.
c. command economy.
d. mixed economy.
____ 3. In another country, privately owned business firms can produce goods or service
in any lawful manner that they choose. This country has a
a. market economy.
b. traditional economy.
c. command economy.
d. mixed economy.
____ 4. In a free enterprise system
a. individuals may enter any lawful business.
b. each citizen has the right to vote in elections.
c. goods are so plentiful that they are free.
d. workers do not charge for their labor.
____ 5. An economy is “mixed” when
a. goods and services are produced by both publicly and privately owned businesses.
b. government owns or controls all businesses.
c. economic decisions are made by tradition.
d. there is a “mixture” of rich and poor people.
____ 6. Which of the following decisions did not involve an economic incentive?
a. Alex saved his extra money in an account earning 6.5% interest.
b. Beta General Corp. purchased new robots to increase production.
c. Carlos feels it is important to stay healthy, so he spent the weekend hiking in the mountains.
d. Dolores returned to school to learn computer programming.
____ 7. Which of the following is a reason for government participation in the economy.
a. to reduce competition in the marketplace.
b. to provide goods and services more cheaply than private enterprise.
c. to regulate harmful externalities.
d. to guarantee that all business firms earn the profit.
____ 8. Which of the following is an example of a public good or service?
a. traffic lights.
b. World Series baseball games.
c. fuel-efficient compact automobiles.
d. computer repair service calls.
____ 9. Which economic system is based on a market economy?
a. capitalism.
b. communism.
c. socialism.
d. traditionalism.
____ 10. We generally refer to a nation that has a democratic political system, together
with government ownership of major industries, as
a. capitalist.
b. communist.
c. socialist.
d. fascist
____ 11. Which term does not belong with the other three?
a. Gosplan.
b. price-directed economy.
c. central economic planning.
d. five-year plan.
____ 12. The policy known as glasnost introduced by the Soviet leader Mikhail
Gorbachev
a. represents a return to Stalinist repression.
b. has made the Soviet Union a true democracy.
c. encourages some public criticism of government.
d. prohibits public discussion of weaknesses in the Soviet system.
____ 13. Perestroika which is Russian for “restructuring”,
a. has been denounced by the United States.
b. represents a return to the economic principles of Karl Marks.
c. provides for an increased involvement of government in day-to-day operations of economic enterprises.
d. allows prices to be set by market forces and requires Soviet enterprises to pay
their own way.