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Vocabulary

2. Match the words and phrases with the definitions.

1

commodity

A

when the government sets a limit on how much people can buy of something

2

standard

B

when there is not enough of something

3

socialist

C

a strong metal made from iron

4

industry

D

something you can buy or sell

5

steel

E

what is usual or typical

6

indicate

F

all the businesses and companies involved in the production of heavy goods, food, technology, etc

7

warning system

G

describes someone / something aiming to share wealth equally

8

shortage

H

secretly storing and hiding goods for use later

9

rapidly

I

work

10

ration

J

show

11

solution

K

very quickly

12

hoard

L

money paid regularly for work done

13

operate

M

answer to a problem

14

wages

N

a system which tells us that something bad is going to happen

1

commodity

D

something you can buy or sell

2

standard

E

what is usual or typical

3

socialist

G

describes someone / something aiming to share wealth equally

4

industry

F

all the businesses and companies involved in the production of heavy goods, food, technology, etc

5

steel

C

a strong metal made from iron

6

indicate

A

when the government sets a limit on how much people can buy of something

7

warning system

N

a system which tells us that something bad is going to happen

8

shortage

B

when there is not enough of something

9

rapidly

K

very quickly

10

ration

J

show

11

solution

M

answer to a problem

12

hoard

H

secretly storing and hiding goods for use later

13

operate

I

Work

14

wages

L

money paid regularly for work done

3. Choose the best answer a, b or c from the list.

1. Every Saturday this road becomes the local street market where people come to buy fruit and vegetables.

2. Businesses advertise their products in the media to attract more customers.

3. My role in the business is to meet customers and find out what they want.

4. Making money is the main part to work.

5. I bought this old camera for €50 and sold it for €75. That's €25 profit

6. If there's only one producer in the market, there's no competition

7. Production prices are the amount of money companies spend to make a product.

8. The idea that life exists on other planets is fantastic. Nobody knows for sure.

9. A controlled economy is one where a government decides what can be bought and sold and/or how it is done.

10. The speed limit on this road is 90 kilometers per hour.

11. When there is a demand w e put up .prices but we fall them if we want to sell something quickly.

12. I can't afford that car – it's far too expensive.

13. People are prepared to pay a lot for services if they are of a good quality.

1

A shop

B street market

C hypermarket

2

A advertise

B show

C put

3

A part

B role

C character

4

A insentive

B part

C point

5

A difference

B profit

C addition

6

A market

B competition

C leadership

7

A prices

B spending

C costs

8

A theoretical

B mystical

C fantastic

9

A mixed

B market

C controlled

10

A barried

B limit

C block

11

A raise/reduce

B rise/drop

C put up/fall

12

A let

B allow

C afford

13

A prepared

B finished

C pointed