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Ex. 20. Say if these statements are true or false. Correct the false ones.
1. When there are a lot of goods on sale you don’t have to limit your choice to one or two. 2. Both individuals and societies can have all the things they would like to have. 3. The problem of scarcity is faced by only poor societies. 4. Resources necessary to satisfy people’s wants and needs are unlimited. 5. The real economic problem is shortage of money. 6. Labour is the efforts of people needed to make products. QUESTIONS FOR DISCUSSION
1. Classify each resources listed below as one of the factors of production by placing the letter of the “factor” in the place provided.
A. Land (Natural Resources) B. Labour C. Capital D. Enterpreneurship / Management
____ a. auto mechanic ____ b. tractor ____ c. corn field ____ d. corporate officer ____ e. computer ____ f. dentist ____ g. school teacher ____ h. salesperson ____ i. machine tools ____ j. copper ____ k. sheep (wool) ____ l. painter’s ladder ____ m. service station owner 2. Economists like to use Robinson Crusoe as their example when they talk about scarcity. Crusoe faced a hostile (враждебный) world when his ship sank. How was he going to overcome scarcity?
GRAMMAR FOCUS Ex. 21. Put the verbs in brackets into the correct tense form.
1. In many countries economic development ____________________(to lead) to periods of rapid population growth. 2. We _____________________________(to develop) this product for three years. 3. As soon as we _______________________(to install) the new line, productivity went up. 4. In 2010 the plant ________________________________________(to manufacture) this car model for ten years. 5. When the company joined the New York stock market, it ______ already ___________ (to be) on the London market for 5 years. 6. She ____________________ (to work) for “Procter & Gamble” at the moment. 7. She ____________________ (to work) for ABC when the merger (слияние) took place. 8. ___________ you ______________(to choose) the advertising agency yet? 9. The company _____________________(to cover) all losses by the end of the month. 10. They _________________ (to reward) their employees once a year.
Ex. 22. Complete the following sentences with one of the time prepositions below. over ago on in at since for
1. He’s been off work __________ three months. 2. He ought to have retired a year __________. 3. She’s been with the company ______________ it began. 4. She left the country _________ 14.00 __________Tuesday. 5. We didn’t receive the delivery _____ time. 6. _______the beginning of the year, prospects looked good. 7. There was a downturn _______ the middle of March. 8. _______2007 our prices have been falling.
FINAL QUESTIONNAIRE
1. What sort of mechanism is economy? 2. What is economy? 3. What sort of issues must all societies deal with? 4. What is economics? 5. What subjects were taught in the universities in 1500th? 6. What was the answer to question “Why am I poor? ” in Pre-Enlightenment period? 7. What word does the word “economics” derive from? 8. What does Greek word “oikonomika” mean? 9. Who made the extraordinary contributions to economics? 10. Whose contributions to economics are considered the most important? 11. What did Adam Smith’s work “The Wealth of Nations” found? 12. Which Adam Smith’s work founded economic science? 13. What major economic thinkers do you know? 14. When did Karl Marx’s work “Capital” appear? 15. What did Karl Marx proclaim in his work “Capital”? 16. Name five tangible and intangible things. 17. How do things get to us? 18. What constrains does every society face at any moment in time? 19. How are societies differ in terms of constrains (limits) provided by nature and previous generations? 20. Why are some countries rich and why are some poor? 21. What do young people discover when they grow older? 22. Why do we have to limit our choice to one or two things on sale? 23. What answer will most people give to question “Why are there so many wants and needs that we cannot satisfy? ” 24. Is shortage of money the real economic problem? 25. If the government decides to print more money will it solve the economic problem of a country? 26. Does printing more money produce more goods and services? 26. What will happen if the government decides to print more money and thus to double all of the incomes of everybody? 27. What is the real cause of shortage of goods and services in a country? 28. How many factors of production are there? What are they? 29. What people do we call entrepreneurs? 30. What economic problem arises because the factors of production are limited in supply? 31. Why do we have to make choices every day? 32. What do all choices involve? 33. What would happen if the factors of production were not scarce? 34. In what case could we have everything we wanted? 35. What is “opportunity cost”? 36. What problem does economics deal with? 37. Is the problem of scarcity faced by only poor societies?
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