VIII. Look at the statements. Say if they are true or false:

1. Economics is a social science that deals with the satisfaction of society's wants. 2. People and establishments must be oriented to their incomes and borrowings. 3. We must escape economics. 4. The knowledge of economics can't give you a fuller life. 5. The study of economics will help you in carrier and business. 6. You are limited to express your opinion on economic problems as a voter.

IX. Fill in the gaps, using the following words: economy, economist, economic, economics, economise, economical.

* MIND: economic relies to the subject of economics, economical means careful, not wasteful.

1. It can be said that an early definition of _____ was an "An Inquiry into the Nature and Causes of the Wealth of Nations". 2. The national _____ is the system of the management and use of resources of a country. 3. It is often possible to _____ if one compares the prices of items before buying them. 4. J.M.Keynes was a famous _______. 5. Inflation may cause a country to be in a bad _______state. 6. It is usually more _____ to buy large quantities of a product than small ones. 7. Investors watch the rate of ___ growth closely. 8. Despite the efforts of the government, the black ___ continues to grow. 9. That car burns so much gasoline that it is not ___ . 10. He lost his job so he has to ___ by using buses instead of taking a taxi.

X. Read and translate the meanings of the following terms. Translate the sentences with them.

Consumer - is a person who buys goods and services for her/his own use and not for resale.

1. Consumers have the right to return faulty goods and demand a refund from the supplier.

2. Consumer is a person whose wants are satisfied by producers.

Certificate(n) - is a written or printed paper issued by an authority as proof of something.

1. She receives a certificate of ownership.

2. Certificate of origin is signed either by the exporter or by an organization officially appointed to do so.

3. Certificate of damage is needed by the importer to support his claim on an insurer or the ship-owners.

Certify(v) - formally declare something that a certain stated fact is true.

1. The accused has been certified to be insane.

2. You have to get these accounts certified by an auditor.

11. Translate the following extract in written form:

The primary purpose of Economics is to encourage you to develop the economic way of thinking so that you can differentiate sound reasoning from economic nonsense. Once you have developed the economic way of thinking, economics will be relatively easy. Using the economic way of thinking can also be fun. Moreover, it will help you become a better citizen. Economics will help you to fulfill your responsibilities as a citizen in a democracy. It will give you a different and fascinating perspective on what motivates people, why they act the way they do, and why their actions are sometimes in conflict with the best interest of the community or nation. It will also give you some valuable insight into how people's actions can be rechanneled for the benefit of the community at large.