
- •Contents
- •Unit 1 Economic Activity
- •Do your parents produce goods or services?
- •Why do they work? List as many reasons as possible.
- •1. In the text find single words in italics for which these words and word combinations can be substituted:
- •To get money by working;
- •2. Say whether these statements true (t) or false (f), and if they are false say why.
- •3. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
- •4. Give English equivalents to the following words and word combinations from the text:
- •5. In each of the sentences a word is missing. Provide a word or word combinations from the text:
- •6. Work in pairs. Spot mistakes in the following sentences and correct them:
- •7.B Find adjectives in the text to the following nouns:
- •8. Supply the missing prepositions where necessary:
- •9.A Combine some of the words in these sentences in order to make new compound nouns:
- •9.B Invent your own compound nouns
- •10. Paraphrase the following sentences, substituting the words from your active vocabulary for the underlined words:
- •11. Rearrange the words to make up sentences:
- •13. Extend the idea:
- •14. Complete the dialogue, translating Ukrainian sentences into English:
- •15.Translate into English:
- •Unit 2 The science of economics
- •4. Read the following text and check your answers:
- •1. In the text find single words in italics for which these words and word combinations can be substituted:
- •2. Answer the following questions:
- •3. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
- •5. Cross out an odd word:
- •6. Match a word from column a with one from column b. Then make a sentence for each word partnership:
- •7. In each of the sentences a word is missing. Provide a word or word combinations from the text:
- •8. Supply the missing prepositions where necessary:
- •9.A Make up words which relate to the word “economy” and translate them with the help of the vocabulary:
- •9.B Use these new words to complete the sentences below.
- •10. Work in pairs. Spot mistakes in the following sentences and correct them:
- •11.A In English, you can make the name of the person who does a job by adding one of the following suffixes:
- •11.B Add one of the suffixes to the following words. You will have to change some of the words a little.
- •13. Complete the dialogue, translating Ukrainian sentences into English:
- •14. Translate into English:
- •15. Extend the idea:
- •16. Do the crossword:
- •17. Write a letter to your friend abroad giving the main reasons of your entering the School of Economics of Kharkiv National University.
- •Unit 3 Different economic systems
- •1. Work in groups or as a class. Discuss the following questions:
- •2. Work with a partner. Ask him/her if he has friends or relatives from Ukraine abroad. What countries are they from? What nationalities are they?
- •3. In geography and economics we often refer to the parts of the world rather than list countries by name, e.G. The Middle East. Below there are 24 countries. List them under these five headings:
- •Answer the questions:
- •Complete these definitions with the words below:
- •3. Read the text and check your answers:
- •1. In the text find single words in italics for which these words and word combinations can be substituted:
- •2. Answer the questions:
- •Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
- •4. Give English equivalents to the following words and word combinations from the text:
- •5. Cross out an odd word:
- •6. In each of the sentences a word is missing. Provide a word or word combinations from the text:
- •7. Supply the missing prepositions where necessary:
- •8. Match a word from column a with one from column b. Then make a sentence for each word partnership:
- •9. Work in pairs. Spot mistakes in the following sentences and correct them:
- •10. Supply the missing articles where necessary:
- •11. Rearrange the words to make up sentences:
- •12. Arrange these sentences in order to make a logical paragraph about the American and Chinese economies. Use connections however and while.
- •14. Find ten more names of countries in the square. You can read across and down:
- •15. Translate into English:
- •16. Extend the idea:
- •1. Answer the questions:
- •Work in pairs. Look at the following words. Do you know them? If not, look them up in your dictionary.
- •2. Complete the definitions with the words above:
- •1. Say whether these statements true (t) or false (f), and if they are false say why.
- •7. Supply the missing prepositions where necessary:
- •8. In each of the sentences a word is missing. Provide a word or word combinations from the text:
- •9. Work in pairs. Spot mistakes in the following sentences and correct them:
- •10. Paraphrase the following sentences, substituting the words from your active vocabulary for the underlined words:
- •11. Rearrange the words to make up sentences:
- •12.B Using the list of adjectives above complete these sentences with the appropriate words in their negative forms:
- •13.B Using the list of adjectives above complete these sentences with the appropriate words in their negative forms:
- •14. Do the crossword.
- •15. Extend the idea:
- •16. Complete the dialogue, translating Ukrainian sentences into English:
- •17. Translate into English:
- •Unit 5 Command and market economies
- •1. Answer the following questions:
- •2. Complete these definitions with the words below:
- •3. Read the text and check your answers.
- •1. Say whether these statements true (t) or false (f), and if they are false say why.
- •2. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
- •3. Give English equivalents to the following words and word combinations from the text:
- •4. Match the words from column a with the words from column b:
- •5. In each of the sentences a word is missing. Provide a word or word combinations from the text:
- •6.B Complete the following sentences with these adverbs:
- •7. Supply the missing prepositions where necessary:
- •8.Match the words from column a with the words from column b which mean the opposite:
- •9. Rearrange the words to make up sentences:
- •12. Extend the idea:
- •13. Do the crossword:
- •15. Translate into English:
- •Unit 6 Mixed economies
- •1. Work in groups or as a class. Discuss the following questions:
- •Look up in a dictionary what these abbreviations stand for and complete the sentences:
- •4. Work with a partner. Fill in the gaps:
- •Work with a partner. List as many companies as you know with abbreviated names. What countries are they in? What line of business are they in?
- •Answer the questions:
- •4. Read the text and check your answers:
- •1. In the text find single words in italics for which these words and word combinations can be substituted:
- •2. Say whether these statements are true (t) or false (f), and if they are false say why.
- •Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
- •Give English equivalents to the following words and word combinations from the text:
- •5. Cross out an odd word:
- •6. Complete the following sentences with words or word combinations from the text:
- •7. Match an adjective from column a with a noun from column b:
- •8. Match a verb from column a with a noun/nouns from column b. Then make a sentence for each word partnership:
- •9. Work in pairs. Spot mistakes in the following sentences and correct them:
- •10. Supply the missing articles where necessary:
- •11. Supply the missing prepositions where necessary:
- •12. Change these sentences by modifying certain adjectives into verbs.
- •13. Rearrange the words to make up sentences:
- •14. Combine these pairs of sentences in the two ways shown in the example.
- •15. Arrange these sentences in order to make a logical paragraph about the National Economic Development Council:
- •16. What-section. Translate the following sentences:
- •18. Complete the following sentences with suitable words:
- •19. Translate into English:
- •20. Extend the idea:
- •21. Write 300 words on the topic “Mixed economies”. Use the material provided in the texts and exercises.
- •Unit 7 Revision and conclusion
- •I. Choose the right answer:
- •II. Say what is true and what is false. Correct the false sentences:
- •III. Translate into English:
- •IV. Write a summary (about 250 words) using the underlined words in the text.
- •T 100 otal
- •Unit 8 Utility and prices
- •Text a
- •1. Find words in the text for which these words and word combinations can be substituted:
- •2. Say whether these statements true (t) or false (f), and if they are false say why.
- •3. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
- •4. Give English equivalents to the following words and word combinations from the text:
- •5.Complete the following sentences with words or word combinations from the text:
- •6. Match a verb from column a with a noun from column b. Then make a sentence for each word partnership.
- •7. Rearrange the words to make up sentences:
- •Finish the following sentences from memory:
- •Read the passage and fill in the gaps with the following words (the words may be used more than once):
- •Text b
- •1. Read these headlines. Suggest what they could mean. What do they tell you? Having read these headlines can you guess what the text is going to be about?
- •How Long Can a Commodity Satisfy a Want?
- •2. Read the text and choose the heading which from your point of view suits best:
- •1. The following are dictionary definitions of words or phrases in the text. Guess what these words are.
- •2.Say whether these statements true (t) or false (f), and if they are false say why.
- •3. Answer the following questions:
- •4. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
- •5. Give English equivalents to the following words and word combinations from the text:
- •6. Supply the missing prepositions where necessary:
- •7. Match an adjective from column a with noun/nouns from column b. Then make a sentence for each word partnership.
- •8. Extend the idea:
- •9. Finish the following sentences from memory:
- •10. Translate into English:
- •Vocabulary
- •Unit 9 Supply and demand
- •1. Imagine you are a producer. You have goods which have cost you a lot to produce, but there are a lot of such things in the market. What would you do:
- •1. Match these definitions with the words below:
- •4. Read the text and check your answer.
- •1. In the text find single words in italics for which these words can be substituted:
- •2. Answer the questions:
- •3. Say whether these statements true (t) or false (f), and if they are false say why.
- •4. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
- •5.Give English equivalents to the following words and word combinations from the text:
- •7. Below are pairs of the sentences. In the first sentence there is a verb in italics. In the second sentence there is a blank. Make the italicized verb into a noun in order to fill the blank.
- •8. Supply the missing articles where necessary:
- •Discuss the following question in small groups:
- •2. Read the text and check your answers:
- •1. Say whether these statements true (t) or false (f), and if they are false say why.
- •2. Answer the questions:
- •3. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
- •4. Give English equivalents to the following words and word combinations from the text:
- •5. Change these sentences using the auxiliary verbs do or did. These verbs are used for emphases.
- •Vocabulary
- •Unit 10 Labour and capital
- •1. Do this quiz individually. Then compare your answers with a partner:
- •2. Read the following definitions for the term ‘money’. Which one from your point of view is the most appropriate?
- •3. Read the text and check your answers:
- •1. In the text find single words in italics for which these words can be substituted:
- •2. Say whether these statements are true (t) or false (f), and if they are false say why.
- •8. Match an adjective from column a with nouns from column b. Then make a sentence for each word partnership:
- •9. Make the words negative by using the prefix dis-:
- •10. Combine these sentences by using not only … but also. This combination creates a contrast.
- •11. Complete the dialogue, translating Russian sentences into English:
- •12. Finish the following sentences from memory:
- •2. Read the following text:
- •1. In the text find single words in italics for which these words and word combinations can be substituted:
- •2. Say whether these statements are true (t) or false (f), and if they are false say why.
- •7. Work in pairs. Spot mistakes in the following sentences and correct them:
- •8. Finish the following sentences from memory:
- •9. Translate into English:
- •10. Extend the idea:
- •Unit 11 Markets and monopolies
- •Say whether these statements true (t) or false (f), and if they are false say why.
- •9. Supply the missing prepositions where necessary:
- •12. Paraphrase the following sentences, substituting the words from the text for the underlined words:
- •2. Answer the questions:
- •Read the text and check your answers:
- •1. The following are dictionary definitions of words in the text. Guess what these words are.
- •2. Say whether these statements are true (t) or false (f), and if they are false say why.
- •Match an adjective from column a with a noun from column b. Then make a sentence for each word partnership.
- •8. Cross out an odd word:
- •9. Extend the idea:
- •10. Arrange these sentences in order to make a logical paragraph about the market and translate them into English:
- •11. Translate into English:
- •Unit 12 Conclusion
- •I. Choose the right answer:
- •II. Say what is true and what is false. Correct the false sentences:
- •III. Translate into English:
- •Write a summary of the text (about 400 words).
Text a
PRE-READING
1. Work with a partner. Answer the questions:
What is the most valuable for you in goods and services? Why?
Which feature of a product do you consider to be the most valuable when you go shopping? Choose from the words given below:
price quality satisfaction
2. Read the text.
Our basic needs are simple, but our additional individual wants are often very complex. When purchasing some goods the consumer follows his willingness to satisfy a want. Commodities of different kinds satisfy our wants in different ways: in relation to time, people and nations.
This characteristic of satisfying a want is known in economics as its ‘utility’. Utility varies between different people and between different nations. A vegetarian does not want meat, but may rate the utility of bananas very highly, while a meat-eater may prefer steak. A mountain-republic like Switzerland has little interest in submarines, while maritime nations rate them highly.
Economists say that utility determines ‘the relationship between a consumer and a commodity’. Utility, however, should not be confused with usefulness. For example, a submarine may or may not be useful in time of peace, but it satisfies a want.
In wartime, the utility of bombs is high, and the utility of pianos is low. Utility is therefore related to our decisions about priorities in production - particularly in a centrally-planned economy. The production of pianos falls sharply in wartime.
The utility of a commodity is also related to the quantity which is available to the consumer. If paper is freely available, people will not be so interested in buying too much of it. If there is an excess of paper, the relative demand for paper will go down. We can say that the utility of a commodity therefore decreases as the consumer’s stock of that commodity increases.
PRACTICE
1. Find words in the text for which these words and word combinations can be substituted:
amount;
rapidly;
goes down;
defines;
extra;
preferences;
coastal;
value
2. Say whether these statements true (t) or false (f), and if they are false say why.
( ) Our basic needs are complex.
( ) All commodities satisfy our wants in the same way.
( ) Utility is a characteristic of a commodity which shows how it satisfies a want.
( ) Vegetarians rate the utility of meat very highly.
( ) The Swiss nation is not particularly interested in submarines.
( ) In wartime the utility of pianos is high.
( ) In a centrally-planned economy, decisions about priorities are related to utility.
( ) The demand for paper goes down if the quantity of paper increases.
3. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
Additional individual wants, in relation to time, people and nations, to satisfy one’s wants in different ways, to follow one’s willingness, in wartime, to vary between smth/smb, characteristic, utility, to fall sharply, consumer’s stock, to have little interest in smth, submarine, to increase.