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9. Work in pairs. Spot mistakes in the following sentences and correct them:

  1. The nationalized industries are in the private sector of British economic life.

  2. Essential services like transport, education and medicine are in the private sector of many socialist economies.

  3. The coal and steel industries are among the activities controlled by small family businesses.

  4. The under-developed countries of the world are not interested in long-term planning.

  5. Britain today is entirely capitalist.

  6. The National Economic Development Council consists of employees only.

  7. The government can easily plan ahead in a mixed economy.

10. Supply the missing articles where necessary:

  1. … food production and … distribution are perhaps … most basic activities in any economy.

  2. Some countries make … distinction between … public sector and … private sector of … economy.

  3. … central authority with … complete power decides what goods and services to produce.

  4. If … person can do what he wishes with his property on … one hand, and he obeys … law on … other hand, then … economists say he is economically free.

  5. … nationalized industries include … various types of transport, steel-production and coal-mining.

  6. My friend is … leading economist. He works for … BP.

11. Supply the missing prepositions where necessary:

  1. The Chinese government set … an official body to control the distribution of goods all over the country.

  2. The majority of national economic systems tends … socialism or capitalism.

  3. Both employers and employees of our company are interested … AGM.

  4. Heavy industries are usually among the activities guided … the government.

  5. The message includes … much important information.

  6. Transport and education employ a large part … the national work force.

  7. We can make up the general plan together … the leading economists of the company.

12. Change these sentences by modifying certain adjectives into verbs.

EXAMPLE:

They made the economy regular. They regulated the economy.

  1. complicate

  1. liquidate

  1. nationalize

  1. activate

  1. consolidate

  1. simplify

  1. internationalize

  1. re-activate

  1. They made the subject complex.

  2. They made the subject simple.

  3. They made the businesses “solid” (by bringing them together).

  4. They made the economy active.

  5. They made the business “liquid”(by breaking it up or “dissolving” it)

  6. They made the economy active again (or for a second time).

  7. They made the industry national (or public).

  8. They made the business international.

13. Rearrange the words to make up sentences:

  1. nation’s / in / Coal / of / list / and / are / iron / vital / mineral / any / resources.

  2. If / better / they / conditions / employers / the / provide / working / increase / may / output / their.

  3. capitalism / the / prices / Under / related / demand / supply / and / are / of / goods / services / and / to.

  4. effort / nation / The / state / organizes / the / economic / whole / of .

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