Vocabulary

1. to earn one’s living - зарабатывать на жизнь

2. commerce - торговля

3. to undertake - предпринимать

4. essential commodity – товар первой необходимости

5. utility – утилитарность

6. consumer – потребитель

7. to vary – изменять (ся), разниться

8. to be related to smth – относиться к чему-либо

9. excess – излишек

10. available – доступный, в наличии

11. demand for smth - спрос на что-либо

12. to increase – возрастать, увеличиваться

13. to decrease – уменьшаться

14. successive – последующий

15. purchase – покупка

16. marginal utility - предельная польза

17. to diminish – ослаблять, убавляться

18. perishable goods – скоропортящиеся продукты

19. to deteriorate – ухудшаться, портиться

20. quantity – количество

21. to tend to – иметь тенденцию к чему-либо

22. to result in – увенчаться чем-либо

23. to go out of business – обанкротиться

24. a glut on the market – перенасыщение, затоваривание рынка

25. to adjust to – приспосабливаться

26. scale of preferences – шкала предпочтений

27. luxury – роскошь, предмет роскоши

28. to be regarded as – определяться как, рассматриваться как

29. to rise steeply – резко возрасти

30. in response to – в ответ на

31. scarcity – недостаток, нехватка

32. an infinite number of – бесконечное число чего-либо

33. to allocate resources – распределять ресурсы

34. output – продукция, выпуск изделий

35. to solve a problem – решать проблему

36. a tribe – племя, клан

37. to assume – допускать, предполагать

38. the framework of – структура чего-либо

39. to alter decisions – изменить решение

40. an attempt – попытка

41. inputs – затраты на производство

42. variable – переменная (величина)

Exercises

Exercise 1. You have now used the three words economics, economic and economist. There are also in this set the words economical, economically and economy. Each word has a different use. Try to put the right word in the blanks in these sentences:

1. Marx and Keynes are two famous ______s.

2. Those people are studying the science of _______.

3. We sometimes call a person’s work his _______ activity.

4. People should be very _______ with money they earn.

5. The economic system of a country is usually called the national _______.

6. The people in that town live very _______.

Exercise 2. Study the example and then do the same for the listed words.

EXAMPLE Britain: That man is British; he is a Briton.

Holland: That man is Dutch; he is a Dutchman.

India: That man is Indian; he is an Indian.

Do the same for the following (make sure that you know the capitals of the countries):

Germany	France	Mexico
Italy	Malaysia	Norway
Spain	China	Pakistan
Greece	Japan	Indonesia
Brazil	Scotland	Iran
Sweden	Canada	Turkey
Portugal	Egypt	Ghana
England	Ireland	Zambia
U.S.A

Exercise 3. Make these adjectives negative by adding the prefix un-

EXAMPLE stable un + stableunstable

economic	economical	satisfactory
systematic	necessary	scientific
enjoyable	available	suitable
equal	productive	conditional
important	usual	desirable

Use the appropriate adjectives in their negative forms in these sentences.

1. People do not like working in _______ conditions.

2. The employers decided to close that factory because it was _______.

3. Complete economic freedom is an _______ situation.

4. Compared with our need for food, clothes and shelter, some of our wants are quite _______.

5. We say that goods are sold at _______ prices, when the price is less than the cost of producing them.

6. The goods which he wanted were _______ at the price which he was willing to pay.

Exercise 4. Give the corresponding nouns to the following words:

EXAMPLE economy – economic

ideology – ideological

organic	mobile	commercial
commune	productive	active
rapid	complex	necessary
equal	secure	liquid
solid	regular	similar

Put each word in its suitable place in the sentences.

1. The system was complex. Its _______surprised him.

2. The movements of the products in the factory were rapid. The _______ of the work surprised him.

3. People who have cars are very mobile. This _______ is a useful thing.

4. The National Bank has a solid reputation. Its _______ in money is similar to the _______ of its buildings.

5. The national economy, like a man, should be active. Its _______ is a sign of its health.

6. Your money is secure in the National Bank. Its _______ is important both to you and to the bankers.

7. The workers in those factories are very productive. Their _______ is very useful to the national economy.

8. Those men arrive regularly at nine o’clock. Their _______ is well known.

9. The American and British economic systems are very similar. This _______ is not surprising.

10. Those two men earn equal sums of money. They have _______ in wages because they produce the same quantity and quality of goods.

11. The exchange of money should be as liquid as possible. The _______ of money helps the economy to grow.

Exercise 5. Below are two lists. Pair off each words in the first list with its opposite in the second list.

theoretical	local
private	maximum
individual	selling
mineral	complex
capitalistic	communistic
simple	organic
buying	collective
minimum	public
national	practical

Exercise 6. What do the following abbreviations stand for:

EXAMPLE The USA  The United States of America

BP	OAU	UK
NATO	EEC	ASEAN
UNO	WHO	ILO
IMF	FAO	BEA
GATT

Exercise 7. Translate.

1. Скоропортящиеся продукты рекомендуется хранить в холодильнике.

2. В ответ на повышение цен на товары первой необходимости была повышена средняя заработная плата.

3. Правительство предприняло решительные меры против перенасыщения рынка.

4. Сделав покупку в нашем магазине, каждый покупатель получает подарок.

5. Спрос на изделия из меха имеет тенденцию снижаться в теплое время года.

6. Спешите, количество товаров ограничено!

7. Он много лет зарабатывает себе на жизнь ловлей рыбы.

8. Излишки строительных материалов было решено продать частным лицам.

9. Шкала потребительских предпочтений варьируется от одной социальной группы к другой.

10. Согласно прогнозу погоды погода на следующей неделе ухудшится.