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Unit 1 what is economics.




ESSENTIAL ENGLISH FOR ECONOMISTS

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- Essential English for Economists ( )

Essential English for Economists .

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MODULE 1

UNIT 1 WHAT IS ECONOMICS?

Exercise 1. Read and learn the following words and word combinations:

economy , ; economic

;

economics (, );

microeconomics , macroeconomics

;

resource ; human and material resources

;

to manage , ;

household ; ;

to deal (with) ( ), ;

rational use ;

scarcity , (); scarce , ;

activity ; human activities ;

to analyze ;

to satisfy ;

heading , ;

to produce ; producer ; production

;

to consume ; consumer ; consumption

;

exchange ; to exchange ;

goods , ; (A.E. a good goods);

service ; to serve , ;

supply ; ; to supply ;

demand ;

to refer (to) (); ;

income , ;

input ;

output ;

economic growth ;

unemployment ;

inflation -

Exercise 2. Read and translate the following text.





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