. , . 1 , . , . , , . , .
, , . , . , , . . , . , , U .
U . , , . AB , , . .
XIV. Answer the following questions.
1. Give an example of the production possibility frontier for the production of two goods and comment on it.
2. What are the characteristics of the hypothetical economy described in the text?
UNIT 3. MARKETS
PART 1 THE ROLE OF THE MARKETS
I. Find the following word-combinations in the texts and translate them into Russian.
business can be transacted; remote control; adjustment of prices; to be in the business; rich executives; a suitable part-time job; to cover the costs; to bid up prices; markets involved in your purchase; allocation of scarce resources;
II. Find in the texts English equivalents for the following:
; ; ; ; ; ;
III. Say what is meant by:
the main features of a mixed economy; normative economics; positive economics; prices adjust to ensure that scarce resources are used to produce those goods and services that society demands; the owner of a cafe is in the business; to run a cafe; a part-time job; detached scientists; to spell out the detailed implications of making a choice; scarce supplies of beef; adjustments in prices would encourage society to reallocate resources
|
|
|
IV. Listening.
Listen to the lecture twice. Be ready to give an oral summary of it.
V. Match the words (1 8) with their corresponding definitions (a h):
1. stock exchange
2. labour market
3. insurance market
4. bond market
5. retail market
6. wholesale market
7. futures market
8. expense account
a. the number of people who are available to work, considered together with all the available jobs
b. a place where goods are sold to the general public for their own use, not for resale
c. the activities connected with buying and selling shares in companies
d. a place where contracts to buy or sell shares, goods, or currency at an agreed price to be delivered in the future are agreed
e. a system that allows you to get back from your employer any of your own money that you have spent while working
f. selling goods (especially in large quantities) to shopkeepers, for sale to the public
g. a place where interest-bearing securities, redeemed after a fixed period, are traded
h. a place where financial protection for property, life, health, etc. against specified risks (accident, fire, theft, loss, damage, death, etc.) is provided
VI. Match the words in the left-hand column with their synonyms:
1. to run
2. to reflect
3. to bring together
4. to look for
5. to demand
a) to meet
b) to require
c) to show
d) to operate
e) to search for
Match the words in the left-hand column with their antonyms:
1. to demand
2. convenient
3. to adopt
4. to bring together
5. satisfied
a) awkward
b) to reject
c) to offer
d) to scatter
e) dissatisfied
