- •Text 1. History of economic thought
- •1Complete each sentence with a word or phrase from the box.
- •2 Now read the text again and decide whether these statements are true or false.
- •Exercises
- •1 Choose the correct answer a, b or c from the list below.
- •3. Discuss these questions with your partner.
- •Exercises
- •1.Complete each sentence with a word or phrase from the box.
- •Exercises
- •1.Match the words and phrases with the definitions.
- •2.Now read the text again and answer these questions in your own words in the space provided below.
- •3.Now listen and tick which transactions in the list are mentioned.
- •Exercises
- •1. Choose the correct answer a, b or c from the list opposite.
- •2. Now read the text again and choose the sentence which best summarises each paragraph.
- •3.Discuss this question with your partner.
- •Exercices
- •1.Match the words and phrases with the definitions.
- •2. Now read the text again and decide whether these statements are true or false. If the statement is false, correct it.
- •3.Discuss this question with your partner.
- •4. Try to complete this paragraph about autarchies by using words from the box.
- •Exercises
- •1.Match the words with the definitions.
- •2.Now read the text again and match each paragraph with the correct heading.
- •Exercises
- •Match the words and phrases with the definitions.
- •3. Discuss these questions with your partner.
- •Exercises
- •1. Answer the questions.
- •2. Choose the necessary word and put in the sentence.
- •Exercises
- •1.Choose the correct answer a, b or c from the list opposite.
- •2. Now complete each sentence with words. Then listen and check your answers.
- •4. Discuss the following with your partner.
- •Exercises
- •1.Now read the text again and answer these questions in your own words in the space provided below.
- •2 Choose the correct answer.
- •In the real economy:
- •Exercises
- •I. Match the words with the definitions.
- •II.Now read the text again and complete the sentences below in your own words in the space provided.
- •III. Discuss these questions with your partner.
- •Dialogue
- •Exercises
- •1.Choose the necessary word and put it in the sentence.
- •Answer the questions.
- •Make transformations according to the model.
- •Exercises
- •Answer the questions.
- •2. Choose the necessary word and put it in the sentence.
- •Exercises
- •1. Change the sentences according to the model.
- •Make up the conditional sentences.
- •3. Answer the questions.
- •Exercises
- •Dialogue
- •Exercises
- •Exercises
- •1.Complete each sentence with a word or phrase from the box.
- •3 Now listen and complete the summary with words or numbers.
- •5. Give a two-minute talk on price. First make notes below on the following.
- •6. Imagine that you’ve got a good idea for an Internet commerce site (an Internet site which is also a business).Tell your friend what your idea is.
- •Dialogue
- •Change the sentences according to the model.
- •2. Change the sentences according to the model.
- •3. Answer the questions.
- •4. Make sentences interrogative and negative.
- •5. Choose the necessary modal verb and put it in the sentence.
- •1. Complete each sentence with a word.
- •Exercises
- •Dialogue
- •Exercises
- •Change the sentences according to the model.
- •3. Answer the questions.
- •Exercises
- •Dialogue
- •Exercises
- •I. Transform the sentences according to the model.
- •III. Answer the questions.
- •I. Answer the questions.
- •II. Select the necessary word in the sentence.
- •Dialogue
- •Exercises.
- •Exercises
- •I. Answer the questions.
- •Dialogue
- •Exercises
- •III. Answer the questions.
- •Exercises
- •1. Answers the questions.
- •2. Choose the necessary word and put.
- •3. Put the verbs in brackets into the proper present tense
- •Dialogue
- •Exercises
- •Transform the sentences according to the model.
- •Exercises
- •Exercises
- •II. Read the text again and choose the best answer or answers for each question.
- •Informal letter
- •Iy Work in groups of three or four. Imagine you and your friends are running the country.Things are not going well! Here are some of your problems.
- •Dialogue
- •Exercises
- •Give affirmative and negative answers to the questions.
Exercises
1.Complete each sentence with a word or phrase from the box.
■ accordingly ■ auction ■ degree
■ discount ■ discrimination ■ guesswork
■ in bulk ■ markup price ■ pensioners
■ retailers ■ risk-taking ■ wholesaler
1.Some people like dangerous sports because they enjoy.......................
2 In an......................, the item for sale is sold to the customer who offers the highest price.
3 The......................is the extra money shops add to the value of something in order to make a profit.
4 In the past, forecasting the weather was just …………….
5 When you are in a formal situation, you have to dress and behave.......................
6 In the winter sales the shops often give a ......................ofupto50°/0.
7 When you buy......................, you buy very large quantities of something.
8......................is when you treat some people differently to others.
9......................are people who sell things.
10 A......................is a company that buys large
quantities of goods from factories and sells them on to shopkeepers.
11 To what......................you do something, means how much you do it.
12 Because retired people usually receive a pension, they are often called.......................
2. Now read the text again and choose the kind of price discrimination that matches these descriptions.
1 A different price is charged to each customer.
A first degree
B second degree
C third degree
2 It helps make products and services more affordable to some people.
A first degree
B second degree third degree
3 It rarely happens in real markets.
A first degree
B second degree
C third degree
4The price falls as quantity rises.
A first degree
B second degree
C third degree
5 It happens on the Internet.
A first degree
B second degree
C third degree
3 Now listen and complete the summary with words or numbers.
The online auction site eBay was started in (1)D......................by Pierre Omidyar. He started it as a (2).......................but it became a huge
business. On eBay, sellers show what they have and buyers make (3)......................for the item. The highest bidder wins. The system is an example of (4)......................degree price discrimination and it is very successful. Worldwide, the website has (5)......................users. It trades $1,500 worth of goods every (6).......................The most expensive
item sold on eBay was an (7).......................It sold for $(8).......................
4. Discuss these questions with your partner.
-» Do you think consumer surplus is a good measure of welfare?
-» Is price discrimination fair?
-» Would you ever buy something at an auction or on the Internet?
5. Give a two-minute talk on price. First make notes below on the following.
-» What is market price?
-»What is consumer and producer surplus?
-»What is price discrimination and why do producers use it?