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3. Read the text and open the brackets, choosing the correct form of the verb to be. Put the questions to the text.

EARLY ECONOMIC THOUGHT: MALTHUS (1766-1834)

Most early economists had no idea of how to make a country grow to be prosperous or to help people become healthy and happy. In fact, economics (to be) once known as the «dismal science», because economists (to be) so pessimistic. In England, for example, an economist named Thomas R. Malthus saw that most of his countrymen (to be) starving. Poverty, hunger, and disease (to be) the norm. Malthus felt conditions could only get worse, because population was increasing geometrically (for example, 200, 400, 800) while food supplies (to be) only slowly increasing. (He published this idea in 1798.) He anticipated more hunger and disease as a result. Today there (to be) some people who feel Malthus (to be) right, and it ( to be) just a matter of time before there (to be) too many people in the world and too few resources.

Recently, economists have predicted that the world would run out of resources such as oil, water, and coal and that pollution would get worse and worse. They cite nations such as Mexico as their model of the future. Other writers (to be) more optimistic and predict world prosperity. They feel that the population growth can be an asset. Their model of the future (to be) the United States. Which predictions (to be) correct? Nobody knows for sure, but we do know some strategies for creating prosperity. The basis for optimism began in 1776. What (to be) need (to be) a social and political base for growth. That base (to be) established in America.

4. The following sentences have mistakes. Correct them.

1. The year is 1776. 2. The Declaration of Independence state that everyone had the right to life, liberty, and pursuit of happiness. 3. Certainly, those early American feel they knew how to made a country prosper. 4. They feel that the key was freedom and they fight to get it. 5. There is an economist who understand the American dream and helped shape it, even though he was not an American. 6. His name will be Adam Smith.7. He will publish his book, An Inquiry into the Nature and Causes of the Wealth of Nation in 1776, the same year that the Declaration of Independence is signed.

5. Make the sentences 1, 2, 6, 7 ( previously corrected) negative and interrogative.

6. Form Participle II from the following verbs:

Assign, reverse, encourage, bring, make, allow, change, determine, reflect, limit, classify.

7. Find the correct translation of this sentence.

Economic environment is determined by the economic policies of the government.

  1. Економічне навколишнє середовище буде визначатися економічною політикою уряду.

  2. Економічне навколишнє середовище визначається економічною політикою уряду.

  3. Економічне навколишнє середовище визначалося економічною політикою уряду.

8. Use the verbs in brackets in the required tense and Voice.

1. Economic resources may (classify) as material resources and labour resources. 2. The prices which play the coordinating role of the market mechanism (determine) through the interaction of demand and supply. 3. Economic environment (determine) by the economic policies of the government.4. The economic resources required to satisfy human wants (to be limit) and scarce. 5. All businesses (produce) goods and services and seek profit.

Unit 2

to match приводити відповідно до чогось, вирівнювати

effective demand дійсний (фактичний) попит

maintenance підтримування

fixed capital investment вкладення до основного капіталу

to single out виділяти, вибирати

mixed змішаний

to split ділити

non-profit making некомерційний

amenity обслуговування, зручності

natural monopoly природна монополія

capital costs капітальні затрати

disposable income чистий прибуток

durable тривале користування

  1. Find the nouns and put them in alphabetical order.

2. Work with the a list of new words as in the example(students have to name words by heart)

Student A: scarce

Student B: raw materials

3. Find antonyms to the following words:

Profitmaking, discomfort, harm, uneconomic, different, reasonable, fall, low, fast, to spend.

4. Find the verbs and put them in alphabetical order.

5. Make up sentences with these verbs.

6. Find word combinations and make up sentences starting with phrase:

It is necessary…

7 .Read and translate sentences only with new lexis.

  1. One of the functions of an economic system is to provide for maintenance and expansion of fixed capital investment.

  2. The ongoing reforms have drastically altered the environment in which Ukrainian’s enterprises are operating now.

  3. Many countries operate a mixed system splitting the economy into public and private sectors.

  4. Such activities as education and medical care are best operated as socially provided amenities for the benefit of all citizens.

  5. The liability of shareholders is limited.

  6. The value of all goods and services produced in the country is measured by gross domestic product.

  7. These natural monopolies have, for economic, political, or social reasons…

  8. People tend to spend increasing proportions of their disposable income on durable goods and certain services.