Exercises

Ex. 1. Answer these questions:

A. 1. What is characteristic of any society?

2. How can economic resources be classified?

3. What is the most efficient economic system? Why?

4. How does the market operate?

5. What is the price determined by?

2. What role does the price mechanism play in free-market economy?

2. What does the allocation of resources reflect?

3. Why is competition an important force of the market?

4. What do businesses compete for?

10. Are businesses totally free in their policies?

11. What is a business cycle?

12. What determines the economic environment?

B. 1. What poll was conducted by the Independent Centre of Market Research?

2. What was the general conclusion of the poll?

3. What did the official statistics available prove?

4. What positive economic developments were confirmed by the poll?

5. What did enterprises that wished to survive have to take into account?

6. Did the poll include any questions about export activities of enterprises?

7. Did the poll reveal any structural changes?

8. Do businessmen welcome the changes in the society?

9. Does business in Ukraine need federal support?

Ex. 2. Give derivatives of:

expansion n growth n consumer n policy n

supply n

regulation n production n allocation n

economy n employment n competition n scarcity n

Ex. 3 Single out the main points of the text. Use the following opening phrases:

The text looks at (the problem of...) ...;

The text deals with the issue of...;

It is clear from the text that...;

Among other things the text raises the issue of...;

The problem of... is of great importance,

One of the main points to be singled out is..,;

Great importance is also attached to ...;

In this connection, I'd like to say ...;

It further says that...;

I find the question of... very important because ...;

We shouldn't forget that...;

I think that... should be mentioned here as a very important

mechanism of....

Ex. 4. Sum up the content of the dialogue. Use the following phrases:

The dialogue is about...;

According to the dialogue ...;

The experts make it clear that ... (stress the point that...; draws the attention of... to the fact that...; suggest, remind, promise);

Finally, the experts come to the conclusion that... (agree about...)

Ex. 5. Work on vocabulary and grammar.

a) Study the key words of the unit in the dictionary at the back of this book:

economy, enterprise, policy, allocation, price, resources.

b) Think of the verbs that are most commonly used with: resources, production, prices, policy, function, programme.

c) Think of the nouns that are most often used with:

to rise, to raise, to arise, to fall, to go up, to drop, to decline, to bring about, to result in, to lead to, to cause.

4. Make your own sentences with any five word combinations from (b) and (c).

5. Match the verbs from (a) with the nouns from (b) below: a) to satisfy b) wants

to distribute factors of production

to save goods

to produce services

to utilize policy

to perform enterprise

to run allocation of inputs

to conduct functions

to choose resources

to pursue needs