Ex. 1. Study the different meaning of the word and use it to translate the sentences

allocate v 1) распределять, размещать

Выделять, назначать

3) ассигновать, отчислять

allocation n 1) распределение, размещение

2) ассигнование, отчисление

3) выделение (средств, ресурсов)

4) классификация

1. The money was allocated for various projects.

2. Rooms have been allocated to the delegates.

3. Prices are an indication to the producers how best to allocate productive resources.

4. Families choose to allocate their expected income between consumption and saving.

5. Our committee allocated money for the memorial.

6. You should allocate tasks among members of the group.

7. Out of the total budget, $3000 was allocated to repairs.

Ex. 2. Match the words with their definitions.

____ surplus a) custom, practice of long standing.

____ generation b) the degree to which a person or group of persons and

their families are able to satisfy their wants.

____ tradition c) a quantity or amount in excess of what is required

____ command economy d) all persons born about same time

____ standard of living e) people or race organized as a state

____ nation f) an economy in which business activities and the allocation

of resources are determined by government order

Ex. 3. Give Russian equivalents to the following words and word combinations:

standard of living ___________________________________________________

to use available resources_____________________________________________

societies have created different economic systems _________________________

the problem of scarcity__________________________________________________

isolated tribes ______________________________________________________

when such a surplus exists ____________________________________________

remote areas of the world _____________________________________________

they have enough to sustain themselves ___________________________________

rural areas __________________________________________________________

very slowly changing traditions __________________________________________

Ex. 4. Match the verbs in column A with the nouns in column B.

A B

To allocate available resources

to solve factors of production

to provide the life

to create the problem

to use government

to distribute answers

to sustain surplus

to relay upon economic system

Ex. 5. Word-building. Complete the following table by inserting the missing forms.

Verb	Noun	Adjective
determine
		productive
	solution
		creative
economize
	enjoyment
		decisive
	activity
distribute
		Limited
	government
	satisfaction

COMPREHENSION

Ex. 6. Finish the following sentences:

1. Every society must provide……

2. Traditional economies are usually found……

3. In a traditional economy most people live in……

4. The goods and services in such a system are those……

5. Most individuals live……

6. When the harvest is high there may be more……

7. When such a surplus exists……

Ex. 7. Say if these sentences are true or false? Correct the false ones.

1. To provide answers to the three fundamental questions societies and nations have created a single economic system.

2. The standard of living doesn’t depend upon the quantity of goods and services produced in the society.

3. Traditional economy looks to customs and traditions.

4. Traditional economic system can be found in the central parts of a country.

5. The main activities of people living in a traditional economy are mining and trading.

6. Most individuals in a traditional economy live very poor.

7. The most part of the product in this society goes to the poorest people.

Ex. 8. Put the questions to the words in italics.

1. Every society must provide answers to the same three questions.

2. The central problem of economics is to solve the problem of scarcity created by society’s

Unlimited wants and limited resources.

3. There are three main economic systems.

4. Traditional economy systems are usually found in the more remote areas of the world.

5. People’s main activities are agriculture, fishing or hunting.

6. Goods and services have been produced in a way they have always been produced.

7. In some years some people are not able to survive and either leave the society or die.

8. When such a surplus exists, it is distributed traditionally.

9. The most part of the product may go to a tribal chief or large landowner.