7.Choose the right answer:

a. Before starting to sell its product, a company often:	1. makes inquiries 2. places an order 3. does some market research 4. advertises the company
b. The Trade Fare is:	1. market research 2. an exhibition of goods 3. after sales service 4. advice
c. A plan to do a lot of advertising of one product is called:	1. campaign 2. press 3. publicity 4. marketing
d. If one of the components of the machinery breaks, the customer will want:	1. an order 2. a spare part 3. average service 4. a catalogue
e. The President of the United States benefits from the recommendations of his:	1. Parliament 2. NATO 3. Council of Economic Advisers 4. The United Nations
f. Federal taxes are paid by individual partners on their:	1. share of earnings 2. share of losses 3. share of income 4. shares
g. Knowledge of economics will help you run a business or manage your personal:	1. telephone 2. ideas 3. houses 4. finance

8.Summarize the main idea of the text in 8-10 sentences.

9. Read the following text dealing with the topic of Unit VI. Adam Smith

Adam Smith was a great scientist who made extraordinary contributions in economics.

He was born in 1723 in Kirkcaldy, a small fishing town near Edinburgh, Scotland. His father was a customs officer. He died before his son was bom.

At the age of 28 Adam Smith became a Professor of Logics at the University of Glasgow. It was his first academic appointment. Some time later he became a tutor to a wealthy Scottish duke. Then he received a grant of £300 a year. It was a very big sum, 10 times the average income at that time.

With the financial security of his grant, Smith devoted 10 years to writing his work which founded economic science. Its full title was An Inquiry into the Nature and Causes of the Wealth of Nations. It was published with great success in 1776.

Adam Smith made economics a science. This Scottish economist is often regarded as the founder of political economy too.

Do you know these words?

to make a contribution to/in smth He makes great contributions in economics.	вносить вклад во что-либо
customs officer He is a customs officer	таможенник
appointment We’ve made an appointment for tomorrow	1) назначение, 2) деловая встреча
tutor The university is famous for its tutors	преподаватель – ру­ководитель работы со студентами (в университете, институте, колледже)
average income His average income is 2000 pounds	средний доход
to devote smth to smb He devoted all his life to economics	посвящать что-либо кому-либо
to found It was founded in 1889	основывать
enquiry (= inquiry) of/into smth	исследование чего-либо
to publish He published his work in 1776	опубликовывать
success It was a great success	успех
to regard He is regarded as the author of this theory	считать

10.Read and translate the words having one and the same stem; underline the suffixes of nouns:

science – scientist academy – academician finance – financier physics-physicist physician

to contribute – contributor to found – founder to read – reader to translate – translator

11.Translate the words and write those from which they are formed:

Economist, interpreter, teacher, founder, physician, ecologist, historian, speaker, writer, physicist, officer, mathematician.

12.Answer these questions:

1) When and where was Adam Smith born? 2) Who was his father? 3) What was Adam Smith's first academic appointment? 4) Did he become a tutor then? 5) How big was the grant he received some time later? 6) What work did dam Smith do with the support of the grant?

13.Repeat what the text said about Adam Smith.

14.Read the following conversation and act it out

Once at an informal party two post-graduates (A and B) who had not met for rather a long time, were speaking about their university mates and friends:

A: Fred is remarkable! There isn't much he doesn't know.

В: Т think it's his natural curiosity. He wants to know everything. He doesn't just scratch the surface, either. He really gets to the bottom of things.

A: Do you know what he explained to me today? The ins and outs of the stock market. He knows all about Wall Street – all these stocks, shares, stock exchange quota­tions and what not.

B: Is he a stockbroker?

A: If I'm not mistaken, he is.

B: I have to confess something. I didn't think much of Fred at first.

A: I understand. He's very quiet. He doesn't make a good first impression. But he grows on you after a while.

B: He's a far cry from his brother. Pete talks all the time and doesn't say anything, either.

A: There are too many Petes in the world. And not enough Freds.

Do you know these words?

curiosity	любопытство
the ins and outs	все детали и подробности
stock market	фондовый рынок
shares, stocks	акции
exchange	биржа
quotation	котировка (цены, курс, ставки)