Exercise 10. Match the following English word combinations from TEXT A with their Russian equivalents

1) to deal with distribution 2) allocated resources 3) scarce resources 4) non-productive labour 5) to make/take decisions 6) to develop a theory 7) to create wealth 8) to affect the relationship between social classes 9) to result in long-term inefficiency 10) economic stagnation 11) economic events 12) to examine decisions

1) выделенные ресурсы 2) принимать решения 3) заниматься распределением 4) приводить в долгосрочном плане к низкой результативности 5) экономический застой 6) недостаточные ресурсы 7) разработать теорию 8) экономические явления 9) непроизводительный труд 10) рассматривать решения 11) наносить ущерб отношениям между общественными классами 12) создавать материальные ценности, богатства

Exercise 11. Translate into Russian in writing paying special attention to different usages of the word WAY.

1. The best way to begin doing this exercise is to consult the dictionary.

2. A country’s economic system is its way of organizing economic activities including the ways in which people come to specialize in particular tasks they do best.

3. By the way, do you know the difference between MICROECONOMICS and MACROECONOMICS?

4. I really liked the way she presented her report at the conference.

5. I am sure you translated the sentence in the wrong way.

6. The longest way round is the shortest way home. (Proverb)

7. Where there is a will, there is a way. (Proverb)

ECONOMICS and ECONOMY

When used as an uncountable noun ECONOMICS means “the scientific study of the way in which wealth is produced”.

e.g. Economics is a difficult science to master.

Compare: mathematics, statistics, linguistics.

When used in the meaning of “economic considerations” (экономические расчеты)

the word ECONOMICS takes only a plural verb or a pronoun in the plural.

e.g The economics of your plan are not carefully considered.

When used as a countable noun ECONOMY means “the system by which a country’s wealth is produced and used” (=экономика/экономическая система).

e.g. This country has a free-market economy.

e.g. Most of the countries in the region have unstable economies.

When ECONOMY is used in the meaning of “careful use of money” (= экономия, бережливость, хозяйственность) it can be both a countable and uncountable noun.

e.g. When a woman gets married, she usually begins to practise economy.

e.g. She is going to make a few economies this year.

Exercise 12. Translate into English in writing using the vocabulary of TEXT A and some English equivalents in brackets.

1. Экономика является общественной наукой, которая изучает поведение людей в сферах производства, потребления, распределения и обмена (to be concerned with/to deal with, behaviour of…, different fields of…, trade).

2. Экономисты анализируют экономические явления, объясняют их или на их основе делают экономические прогнозы. Наша повседневная жизнь и опыт связаны с экономикой (to explain, to make predictions, on the basis of…).

3. Адам Смит (1723–1790), основатель классической политической экономии, определил понятие экономической стоимости и исследовал распределение богатства между классами – рабочими, капиталистами и землевладельцами (the founder of…, to give the definition of…, value, to investigate, landowners).

4. Основная экономическая система в современном мире - рыночная экономика. Во многих отношениях мы являемся частью мировой экономики. Когда мы утром пьем импортный кофе или покупаем импортный DVD-плеер, мы становимся связанными с мировой экономикой, с международной торговлей и финансами (in many ways/respects …, part of…, imported coffee…, foreign-made…, to become part and parcel of …).

Exercise 13. Summarize orally the main points of TEXT A using the following COMMUNICATIVE SCHEME which is presented in the form of a CHART (I, II, III are the basic lines of thematic development of the summary). Pick out the predicates from the lists below.

I – is studied (by), is connected (with), are skilled (in), is concerned (with), use, apply;

II – is, consists (in), can be divided (into), can be grouped (into);

III – is based (on), is founded (on), presupposes.