25 Find the English equivalents in the text:

(1) И получается, что люди продают свои услуги за деньги.

(2) Они используют эти деньги для покупки того, что произвели другие.

(3) Существует система, которая позволяет обменивать ...

(4) Изучение этого огромного разнообразия видов деятельности становится намного легче благодаря ...

(5) Это слово имеет намного более широкое значение.

26 Match and translate the synonyms:

goods	a lot of
building	thing
object	commodity
wants	household
output	construction
fairly	needs
many	production
domestic	rather

27 Answer these questions using the text:

(1) What are the three main types of economic activities?

(2) What does 'production' mean for the economist?

(3) What is called 'productive work'?

(4) Are there many service industries? What are they?

(5) Is there much difference- between durable and non-durable commodities? Give a few examples.

(6) What is the meaning of 'consumption'?

28 Translate into English and make sentences using these word combinations:

экономическая деятельность товары длительного пользования

сельскохозяйственная культура банковские услуги

удовлетворять запросы людей бухгалтерское дело

оптовая и розничная торговля страхование и юриспруденция

Text 5: Wealth and income

Wealth consists of a stock of goods which have a money value. It includes such assets as land, houses, factories, shops, machines, and many kinds of personal possessions.

Private wealth means the possessions of individuals. It will obviously include land, houses, works of art, jewellery, motor cars and so on. Private wealth also includes financial assets such as notes and coins, bank deposits, building society de­posits and company shares.

Social wealth consists of those assets owned by the com­munity as a whole (i. e. by central and local government). It includes such things as roads, hospitals, schools, parks and libraries.

National wealth is the sum of all the wealth possessed by the citizens of a country, whether it is privately owned or publicly owned.

Whereas wealth is a stock of assets which have a money value, income is a flow of money. Income refers to the amount of money earned or received during a given period of time - usually one year.

An individual may receive income in various forms, such as wages, salaries, interest on savings, rent from the ownership of property, profits on shares, or social security payments.

The basic difference between income and wealth is this:

• income is a flow of money received during a given pe­riod of time, while

• wealth is a stock of assets owned at some moment in time.

Here is a graph showing how Englishmen held their wealth in 2002: