8. Найдите в тексте ответы на вопросы:

1. How are complex personal wants satisfied?

2. What is “utility”?

3. How does utility of a commodity depend on the consumer’s stock?

4. What prices are called “fixed prices”?

5. When does a consumer stop buying the commodity?

6. What does the Law of Diminishing Marginal Utility mean?

7. What do the Law of Supply and the Law of Demand mean?

8. How do producers react to the fall and rise of prices?

9. When is supply called elastic?

10. When is demand inelastic?

9. Выберите утверждения, соответствующие содержанию текста.

1. Complex personal wants are satisfied in different ways by different things.

2. Utility is not the same as usefulness.

3. Utility is related to our sense of priorities.

4. If a consumer goes on buying a commodity at a current price, his financial sacrifice is greater than his satisfaction of this commodity.

5. The consumer’s desire for a commodity tends to diminish as he buys more units of that commodity.

6. When we talk about the Law of Demand, we mean, that a fall in prices tends to decrease the demand for a commodity.

7. Supplies of many commodities can be adjusted to suit market conditions.

8. The principle of elasticity operates only in the area of supply.

9. When the consumer exercises the choice, he works according to his personal scale of preferences.

10. For non-essentials demand is elastic and particularly responsive to changes in prices.

10. Кратко перескажите текст.

Vocabulary

humans needs—человеческие потребности

to satisfy—удовлетворять

a substitute—заменитель

utility—полезность

usefulness—польза

relationship—отношения

consumer—потребитель

commodity—товар

to rate—ценить

therefore—таким образом

consequently—следовательно

to decrease—уменьшаться

to increase—увеличиваться

stock—запас

price—цена

majority—большинство

the demand for something—потребность, спрос

to accept something—принимать что-то

a fall in prices—падение цен

a rise in prices—повышение цен

particular—особенный

as a whole—в целом

to encourage—вдохновлять, побуждать

quantity—количество

quality—качество

relationship—отношение

to spend—тратить

convenience—удобство

insurance—страховка

necessary—необходимый

income—доход

particularly—особенно

Test

1. Выберете правильные ответы на данные вопросы. Запишите ответы следующим образом, например: 1—d.

1. What human needs are complex?

a) basic, c) individual,

b) additional, d) collective.

2. What does a vegetarian rate very highly?

a) pianos, c) meat,

b) submarines, d) bananas.

3. What is related to our sense of priorities?

a) utility, c) supply,

b) price, d) demand.

4. What must a consumer accept when planning his expenditure?

a) advices, c) prices,

b) income, d) laws.

5. What does a rise in prices tend to do with the supply of a commodity?

a) to increase, c) to reduce.

b) to decrease, d) to diminish.

6. What does a rise in prices tend to do with the demand for a commodity?

a) to enlarge, c) to increase,

b) to satisfy, d) to decrease.

7. What will producers do with production when the prices fall?

a) reduce, c) enlarge,

b) increase, d) rise.

8. How do we call supply when it can be increased or decreased rapidly to suit market prices?

a) inelastic, c) elastic,

b) available, d) important.