- •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).
1. Say whether these statements true (t) or false (f), and if they are false say why.
( ) When people offer money for particular goods, they show that demand exists.
( ) Basic needs come before luxuries.
( ) Our decisions on how to use our money show what we need most and what we are willing to do without.
( ) Demand for essential commodities is always elastic.
( ) All firms try to sell their goods at lower prices.
( ) Demand is elastic when a small change in prices has relatively small effect.
( ) When we exercise our choice we do not pay attention to prices.
2. Answer the questions:
What definition do economists provide for the term ‘demand’?
Under what conditions will firms continue to supply their goods and services?
What does the Law of Demand state?
What indicates demand?
What value does money have?
What does the term ‘scale of preferences’ refer to?
What comes next in our scale of preferences?
What influences our scale of preferences?
How do you understand ‘elasticity’ of demand?
3. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
total profit, desire, luxuries, means of exchange, scale of preferences, comfortable, according to, other things being equal, exceptions, demand, expense.
4. Give English equivalents to the following words and word combinations from the text:
попит, бажання, готовність, продавати за ціною, винятки, нарешті, уважно, страховка, витрати, виміряти, валовий прибуток, зручно, вартість, здаватися, предмети розкоші.
5. Change these sentences using the auxiliary verbs do or did. These verbs are used for emphases.
EXAMPLE : 1. These goods and services have a value.
These goods and services do have a value.
2. The people went to city to find work.
The people did go to the city to find work.
These factors have an effect upon the economic system.
The management tried to change the methods.
The representatives of the employers and employees met last week.
The decision made by the trade unions affects everyone in the industry.
Short-term economic anarchy has a bad effect on longterm stability and investment.
The surplus money provided capital for a new building scheme.
Stable conditions led to an improvement in the general state of the economy.
The government encourages new commercial enterprises.
A change in government usually means a change in policy.
The minister wanted to make a fundamental change in the national policy.
6. Give suitable opposites for these words:
a) minority |
b) maximum |
c) theoretical |
d) positive |
e) public |
f) collective |
g) solid |
h) simplify |
i) longterm |
7. Many words are formed by adding –able. Do the exercise.
EXAMPLE : Fruit can perish. → Fruit is perishable.
NOTE that can is not always necessary in the first sentence.
The plan can work.
Market conditions can change.
Economic conditions can vary.
These policies suit (us).
Those products have a value.
Some investments make a profit.
8. Extend the idea.
Demand is very essential for a firm’s prosperity.
We exercise our choice according to our scale of preferences.
Even small changes in prices have effects on demand.
9. Translate into English.
Кількість благ та послуг, які споживачі бажають та мають можливість придбати в даний момент та в даному місці, зветься попитом.
Попит залежить не тільки від ціни, але і від кількості того товару на ринку.
Цей виробник продає свою продукцію за високими цінами, за винятком тих товарів, які не користуються попитом.
Ця картина не має цінності сама по собі, але колись вона належала видатному письменнику, і тому її ціна дуже висока.
Що до шкали наших переваг, то перше місце в ній займають товари першої необхідності, далі - предмети розкоші.
Щоб на ринку не було затоварювання, виробники контролюють кількість товару на ринку, та пристосовують його до ринкових вимог.
З одного боку перевиробництво призводить до падіння цін та примушує виробників закривати свої підприємства, з іншого це більш влаштовує покупців.
Ціни на нафту впали в цьому регіоні та по всьому світу.
Увесь запас цього товару торговці мали запропонувати к продажу, але це не покрило їхні витрати.
Попит та пропозиція бувають еластичними.
Пропозиція це кількість продукту, яку виробники бажають та мають можливість поставити на ринок за певний період часу.
Більш висока ціна стимулює підвищення пропозиції.
QUESTIONS FOR DISCUSSION
For each pair of commodities, state which you think is the more price elastic and give your reasons: perfume and salt; penicillin and ice-cream; cigarettes and books; ice-cream and chocolate ice-cream.
What will a rise in price do to total revenue when demand is elastic or inelastic? What will higher quantity do in these cases?