Контрольна робота № 2

Варіант 4

1. Прочитайте надані тексти (7-12). Дайте письмову відповідь на наступні питання.

1. What does the Law of Diminishing Marginal Utility say?

2. When is a market created?

3. Why is there always an element of risk in providing capital?

4. What serious effect may a fall in prices have on some producers?

5. What happens when the supply of a commodity is adjusted to suit market conditions?

2. Прочитайте надані тексти (7-12). Визначте, чи подані нижче висловлювання до текстів є вірними чи невірними. Якщо висловлювання невірне, запишіть правильний варіант.

1. Economists say that utility determines “the relationship” between a consumer and employer.

2. Consumer’s satisfaction is greater than financial sacrifice if he goes on buying a commodity at the current price.

3. Money is not usually valuable in itself.

4. The money standard as used by economists is scientific and objective.

5. The demand is indicated by the amount of money for different goods and services.

3. Поясніть своїми словами на англійській мові значення наступних слів і виразів.

1. to diminish

2. expenditure

3. elasticity of demand

4. capital

5. national labour force

4. Заповніть пропуски відповідними словами з текстів (7-12) (подана перша літера слова та кількість літер в слові вказана в дужках).

1. The nature of a commodity remains the same, but its utility c_____(7).

2. Some economists are interested in measuring changes in the price of e_____(9) commodities.

3. Any person e______(7) in private business is not paid a fixed sum for his activities.

4. The c______(7) which people provide to help new businesses is an accumulation of previous surpluses on previous business activities.

5. The scheme has been started although it has not yet received government p_____(10).

6. The government e____(10) new commercial enterprises.

7. When deciding production t_____(7) for a period of years, a government must establish its priorities very clear.

8. The economic system should not be s_____(7) in an unscientific way.

9. The individual cannot change the c_____(7) price.

10. If the business is successful, the risk has been justified and invested capital e_____(5) part of the profit as a return on the investment.

5. Перекладіть поданий нижче текст українською мовою.

Utility is an economic term referring to the total satisfaction received from consuming a good or service. A consumer's utility is hard to measure. However, we can determine it indirectly with consumer behaviour theories, which assume that consumers will strive to maximize their utility.

Marginal Utility is the additional satisfaction a consumer gains from consuming one more unit of a good or service. Law of Diminishing Marginal Utility states that as a person increases consumption of a product – while keeping consumption of other products constant – there is a decline in the marginal utility that person derives from consuming each additional unit of that product. This is the premise on which buffet-style restaurants operate. They entice you with "all you can eat," all the while knowing each additional plate of food provides less utility than the one before. And despite their enticement, most people will eat only until the utility they derive from additional food is slightly lower than the original.