Task 2. Market and Command Economies.
What is the central economic problem of a society?
What is the market?
What is the function of the market in an industrial country?
How are decisions made in a command economy?
In what way does a free market economy differ from a command economy?
To which type do most economies in the West belong?
Task 3. :
To which type does the economy of present-day Russia belong?
Is the level of government regulation growing or falling in Russia's economy now?
Ex. 5. .
1. (A command economy /a free market economy) is a society where the government makes all decisions about production and consumption.
2. (Economics/ Economy) studies how markets and prices allow society to solve the problems of what, how, and for whom to produce.
3. Every economist sees (the restriction / the importance) of the question of what, how, and for whom to produce.
4. Nations have different (consumption / levels) of farm production.
5. When (the price / the importance) of some goods grows, people will try to use less of them but producers will want to produce more of them.
6. In (mixed /both) countries, Canada and the USA, structural changes in the agricultural sector of economy have become of interest to economists and general public in the 80s and 90s of the 20th century.
7. After years of competition between command and market economies, (the former / the latter) gave way in many countries of the world to (the former/ the latter).
Task 4. n , :
c
Economy, economist, to economize economics, economic, economical
Task 5. , economic economical:
A practical woman.
Problems of economics.
A crisis in the field of economy.
To be careful in the spending of money.
Reforms in the field of economy.
A law () regulating the sphere of economics.
A plan of the industrial development of the country.
8. A small car that doesn't use too much fuel.
Geography that studies the location () of industries, markets, transport.
Ex. 6. : economy, economics, economist, economic, to economize, economical.
1. An early definition () of... was "an inquiry () into the nature and causes of the wealth of nations".
The national... is the system of the management and use of resources of a country.
