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II. Match the synonyms:

to produce, to distribute, scarce, to influence, to manufacture, to impact, revenue, production, to deal out, to provide, deficient, manufacturing, to satisfy, wages, to supply, salary, to meet, income.

III. Find equivalents:

1. to satisfy needs and wants

2. wages

3. dramatic impact

4. primary factor of production

5. mental activity

6. gifts of nature

7. natural resources

8. human efforts

9. fertile fields

  1. mineral deposits

  2. to grow crops

12. in limited supply

а. первинний фактор виробництва

б. в обмежених запасах

в. кориснi копалини

г. родючi поля

д. заробітна плата

е. вирощувати культури

є. вирiшальний вплив

ж. людськi зусилля

з. розумова діяльність

и. задовольняти потреби та бажання

i. природнi ресурси

ї. дари природи

IV. Match the antonyms:

natural, fertile fields, unlimited resources, indefinitely, limited resources, inside, artificial, production, immigration, inability, to destroy, unemployment, definitely, ability, to create, employment, to satisfy, emmigration, consumption, income, deserts, outside, scarcity, to dissatisfy, abundance, expenses.

V. Fill in the blanks with prepositions or adverbs if necessary:

1. Natural resources are not created ... human efforts. 2. They are the things provided ... nature that go ... the creation ... goods and services. 3. Land is not only land itself, but also what lies ... the land, what grows naturally ... top ... the land, what is ... the land ... the seas and oceans and ... the seas and oceans. 4. Economists tend to think ... land as being fixed or ... limited supply. 5. Unlike ... land, labour is a resource that may vary ... size ... time. 6. Labour is the human input ... the production process.

VI. Complete the following sentences:

1. The reason people cannot satisfy all their wants and needs is ... . 2. Factors of production are called ... . 3. They provide ... . 4. As an economic term land means ... . 5. Land is not only land itself ... . 6. It includes ... . 7. The second factor of production is ... . 8. Unlike land, labour is ... . 9. Historically, factors such as ... . 10. Labour may be ... . 11. The price paid for the use of labour is called ... . 12. Wages represent ... . 13. Land and labour are often called ... .

VII. Answer the following questions:

1. What is the reason people cannot satisfy all their wants and needs? 2. What is called factors of production? 3. What do they provide? 4. What does land mean as an economic term? 5. What do natural resources include? 6. What do economists think of land? 7. What is the second factor of production? 8. What is labour in economics? 9. What is the difference between the terms land and labour? 10. What has had a dramatic impact on both the quantity and quality of labour? 11. What is called wages? 12. Land and labour are often called primary factors of production, aren’t they?