efe

II.Put the words in the correct order:

1.Of, increases, labour, to, moonlighting, supply, entrepreneurs, the, available.

2.Demand, a, leads, output, in, lower, and, fall, to, employment, aggregate.

3.Difference, unemployment, and, stresses, modern, the, involuntary, analysis, between, voluntary.

4.Continuing, are, retirement, of, people, capable, age, employment, in, many, pro-

ductive, of.

5.Standard, force, fully, the, raising, of, depends, living, a, labour, on, effective.

6.M otivating, and, enrichment, provide, to, advancement, job, opportunities, tends, growth, for.

III. Fill in the gaps with the words or word combinations in italics:

Working hours, specialization, job enlargement, take on, supply, wage rate, skilled, income, competition, quality, train, participation rate, redundant.

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1.A lot of … workers may be made … when an industry declines in the face of foreign … .

2.In …, the employee is given more things to do within the same job.

3.M ore important than the actual … of labour is the … of labour.

4.The … is the percentage of the population of working age who declare themselves to be in the labour force.

5.Some workers prefer extra … to shorter … .

6.Firms are often reluctant to … and … older workers.

7.Some people want to work at the current … but can’t find jobs.

8.The most significant drawback of … is monotony.

IV. Are the following statements true or false? Correct the false ones:

1.M oonlighting is quite common because most people like working late.

2.Frictional unemployment can be reduced.

3.The labour force comprises all those employed or willing to find a job.

4.Where there are few incentives labour is less efficient.

5.Demand-deficient unemployment occurs when aggregate demand exceeds fullemployment aggregate demand.

6.Skilled labour tends to be more specific than semi-skilled labour.

7.Structural unemployment is created when the wage is deliberately maintained

above the equilibrium wage rate.

8.Labour is the supply of human resources, both physical and mental, which are available to engage in the production of goods and services.

9.Classical unemployment is involuntary.

10.All those people who are looking for work will be automat ically included in the

official statistics for the labour force, whether or not they have registered as unemployed.

V.Translate the following sentences into English:

1.В состав рабочей силы не включаются две группы населения: лица нетрудоспособного возраста, а также лица, которые по к аким-либо причинам не могут или не хотят трудиться.

2.К наиболее серьезным социальным последствиям безработицы относится потеря квалификации.

3.М атериальное поощрение дает стимул для повышения производительности труда.

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4.Структурная безработица возникает в результате изменений в экономике, приводящих к сокращению спроса на одни профессии и повышению спроса на другие.

5.Безработные – это люди трудоспособного возраста, которые не имеют работы, но активно ее ищут и готовы приступить к работе немедленно.

6.Число фрикционных и структурных безработных в сумме составляет естественный уровень безработицы.

7.В настоящее время многие устраиваются на работу по совместительству, поскольку она приносит дополнительный доход.

8.В сложившихся экономических условиях большинство людей пе нсионного возраста стараются по возможности продолжать работу.

9.Существует взаимозависимость между повышением эффективности труда и ростом уровня жизни.

10.Средства, вложенные в образование, со временем окупаются, так как они позволяют человеку найти более интересную и высокооплачиваемую работу.

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TES T 3

(Wants and Utilities, Supply and Demand)

I. Match the terms with their definition:

II.Put the words in the correct order:

1.wants, satisfy, which, purpose, economy, to creat e, mankind’s, the, of, an, is, utili-

ties, will.

2.is, varies, changing, demand, not, but, with, fixed, conditions.

3.the, the, of, of, of, effects, price, enterprise, an, commodity, prospects, profitabili-

ty.

4.“wants”, “wants”, even, we, these, when, ot her, present, more, themselves, have, basic, advanced.

5.are, our, by, which, services, attention, intangible, personal, “utilities”, needs, satisfy.

III. Fill in the gaps with the words in italics:

Scale, commodity, goods, price, requirements, scale, substitutes, services, purchasers, competitor.

1.An increased demand raises … .

2.When the price of a … rises the quantity that is supplied will be increased.

3.… are tangible items which either satisfy the basic … of human life or make that life fuller and richer.

4.Scale of preferences is an arrangement of things in one’s own mind with the most preferred items towards the top of the … .

5.Demand is the quantity of goods and … which … are prepared to buy at a given

price in a given period of time.

6. If the goods are close … for one another, the price of one will be seriously affected by a lower price of its … .

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IV. Are the statements true or false? Correct the false ones:

1.M an’s wants and demands are unlimited.

2.Demand is set.

3.Total utility usually rises while marginal utility always falls.

4.When the price of a commodity rises the quantity that is demanded will be increased.

5.Suppliers don’t vary in their ability to supply.

6.A progressive system of taxation strengthens the purchasing power of consumers.

7.If there is an alternative to a commodity, then it is no longer a necessity.

8.A decreased supply lowers market price.

V.Translate the following terms into English:

1.потребительская корзина

2.предельная полезность

3.человеческие потребности

4.убывающая предельная полезность

5.удовлетворять потребности

6.создавать полезности

7.общая полезность

8.основные требования (запросы) человеческой жизни

9.потребительские товары

10.факторы производства

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TES T 4

(Market, Markets and Monopolies)

I. Match the terms with their definitions:

II.Match the two parts of the sentences:

1.Natural monopoly arises out of … .

2.M onopoly is a situation where … .

3.M onopolies can only continue to exist if … .

4.When there are only a few buyers, … .

5.An oligopoly is a market characterized by a small number of firms … .

6.Oligopoly is distinguished from perfect competition because … .

7.When all firms are of (roughly) equal size, … .

8.A market is simply a mechanism, … .

A.…which allows individuals or organizations to trade with each other

B.…the properties of productive technology

C.…who realizethey are independent intheir pricing and out p olices

D.…the oligopoly is said to be symmetric

E.…each firm in an oligopoly has to take into account their independence

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F.…there is a single seller in the market

G.…the market is defined as an oligopsony

H.…there are barriers to entry

III. Fill in the blanks with the words or word combinations in italics:

Aggregate supply, geographic areas, scope, aggregate demand, buyers, transacted, dimensions, actual, sellers, products, potential

1.M arkets can be in “equilibrium” or “disequilibrium” depending on whether or not … equals … at the prevailing price.

2.M arkets may be local, regional, national or international in … and do not neces-

sarily require … and … to meet or communicate directly with each other.

3.Business may be … through the use of intermediaries as well.

4.There are two fundamental … of market definition: the product market, that is,

where … group together and the geographic market, that is, where… group together. 5. M arket definition generally includes … and … sellers.

IV. Are the following statements true or false? Correct the false ones:

1.When a market functions properly, the quantity of goods and services demanded and supplied must be equal at some given price.

2.M arkets are similar in scope. There are only local markets where buyers and sellers must meet and communicate directly with each other.

3.To define a relevant market all you need is to identify the number of companies and products available in the market.

4.M onopolists, being largely immune from competitive pressures, do not have the

appropriate incentives to minimize costs or undertake technological change.

5. An oligopoly is a market characterized by a large number of firms who realize they are dependent in their pricing and output polices.

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V.Translate the following sentences into English:

1.Рынок – это открытое для всех место, где покупаются и пр одаются товары или услуги, напрямую или через посредников.

2.Рынок, где спрос на продукцию больше имеющегося предложения, назыв а- ется рынком продавца, а рынок, где предложение превышает спрос, цены низкие, а условия сделок устанавливаются покупателями, называется рынком покупателя.

3.М онополистическая конкуренция – это ситуация, когда на рынке присутствуют несколько продавцов, каждый из которых способен у станавливать цену, то есть каждый имеет некоторую монополистич ескую власть.

4.М онопольное положение позволяет фирме сохранять любые сверхприбыли.

5.Цена, при которой предложение товара равно спросу на него, называется равновесной ценой.

6.Цены на аналогичные товары могут отличаться и зависеть от времени и места продажи или его качества.

7.Картель создается для взаимной пользы фирм – членов картеля.

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TES T 5

(Money, Pricing, The Problem of Inflation)

I. Match the terms with their definitions:

II.Put the words in the correct order:

1.system, trade, until, has, is, full, a, usually, by, on, carried, barter, developed, money, been.

2.charged, any, needs, carefully, the, by, to think, price, rivals, business, about.

3.be, the, price, must, general, a, form, level, average, of, therefore.

4.acceptable, to be, it, if, tender, is not, legal, generally, will, then, money, cease.

5.is, would, once, in, business, the, a, established, product, raise, its, market, the, price.

6.of, index, the, price, normal, of, method, is, the, calculation, by, use.

III.Fill in the gaps with the words or word combinations in italics:

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Money, creaming, value, cost inflation, losses, demand inflation, increases, barter, legal tender, price

to … .

5.…in the quantity of money were likely to lead to increases in prices.

6.If … is not generally acceptable then it will cease to be money.

7.…is one element of the marketing mix.

8.…is of no use unless the wealth is being created.

9.…takes place when supply cannot respond (i.e. when most of all resources are

already employed) and leads to a rise in prices instead of to extra output. 10. …entails the necessity of a double coincidence of wants.

IV. Are the following statements true or false? Correct the false ones:

1.Paper money is convertible into gold.

2.Bank deposits, which are money, are not legal tender.

3.A fall in prices means that the value of money has risen.

4.The value of money changes proportionally with changes in the price level.

5.The price of similar competitive products does not influence pricing.

6.When the price covers both the average fixed and variable costs of the product, the business is said to be full-cost pricing.

7.The measurement of the inflation does not depend upon the general price level.

8.The selling of the country’s currency often takes place when infl ation rates exceed the tolerances allowed for by the government.

V.Translate the following terms into English:

1.стратегия «снятия сливок»

2.стратегия «проникновения на рынок»

3.ценовая дискриминация

4.индекс розничных цен

5.ползущая инфляция

6.поднимать уровень цен

7.средство сохранения стоимости

8.номинальная стоимость

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