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The resources that go into creation of goods and services are called the factors of production. The factors of production include natural resources, human resources? Capital and entrepreneurship. Each factor of production has a place in our economic system, and each has a particular function. Our country is reach in natural resources. Economists also use the term “land” when they speak of natural resources as a factor of production.

The price paid for the use of land is called rent. Rent becomes income to the owner of the land. Economists call the physical and mental effort that people put into the creation of goods and services labour or human resources.

The price paid for the use of labour is called wages. Wages represent income to workers, who own their labour.

Capital s something created by people to produce other goods and services. A factory, tools and machines are capital resources. The term capital is often used by business people to refer to money they can use to buy factories, machinery and other similar productive resources.

Payment for the use of someone else’s money, or capital is called interest.

Closely associated with labour is the concept of entrepreneurship, the managerial or organizational skills used by the most firms to produce goods and services. The reward to entrepreneurs for the risks, innovative ideas and efforts that they have put into the business and profits, whatever remains after the owners of land, and capital have received their payments.

ІІІ. Що б Ви могли розповісти про Лондон?

І. Лексико-граматичний тест:

1. Please don't shout______me! Be nice to me.

a) to c) of

b) for d) at

2. We passed Tom as we were driving along. I shouted______him but he didn't hear.

a) for c) to

b) of d) at

3. I've thought______what you said and I've decided to take your advice.

a) of c) at

b) about d) to

4.1 don't know what to get Ann for her birthday. Can you think______anything?

a) of c) at

b) about d) to

5. When I saw Mike, I congratulated him_______passing his driving test.

a) for c) to

b) of d) on

6. It's not very pleasant when you are accused_______something you didn't do.

a) for с) of

b)to d) in

7.1 didn't have any money, I had to borrow some______a friend of mine.

a) of c) after

b) from d) over

8. I am not going out yet. I am waiting______the rain to stop.

a) to c) about

b) - d) for

9. The roof of the house is in a very bad condition. I think we ought to do something______it.

a) of c) with

b) about d) after

10. Do you see that girl over there? Does she remind you ______anyone you know?

a) of c) -

b) about d) to