I. What is the main point made by r. Kennedy? (4) Do you agree with him?
J. Suggest appropriate adjectives from the text to make word combinations with the word “economy”. Don’t forget that Ved forms and nouns can also be used as adjectives. Add examples of your own.
American economy …
K. Write questions to the following answers.
1) How …?
From a colonial economy to a small, independent farming economy, and eventually, to a highly complex industrial economy.
2) What …?
Its natural resources, labor force and their organization.
3) Can you tell me, please, if …?
Yes, they are.
4) How …?
Through a practice known as franchising and chain store.
5) What kind of …?
Big business units organized as corporations.
6) Does …?
Yes, it does. But the consumer role is so great that America is sometimes characterized as having a consumer economy.
7) What sector …?
Services sector does.
L. Suggest appropriate derivatives for each of the following words from the text. Then complete each sentence below with the correct form of the word.
1) economy – economic 2) proprietor – … 3) owned – …, … 4) contribute – … |
5) person – … 6) farm – …, … 7) money – … 8) innovation – ... |
9) serve – … 10) grow – … 11) dominate – … 12) organize – ... |
1) economy
More and more the American … is influenced by dynamic … overseas.
Between 1995 and 2005, the U.S. accounted for one-third of global … expansion.
2) proprietor
Hotel and guest house … are hopeful that business this year will be good.
The sole … is the most common type of business in many western countries.
3) owned
Under its plans, 10% of the new company would be … by Opel employees.
I did tell people about this but no one except the owner and … believed me.
Earlier in the year, Malaysia relaxed its rules for foreign … of investment banks and insurance companies.
4) contribute
They … so much to Northern Ireland in terms of strengthening their economy.
I receive the full basic state pension having paid national insurance … .
5) person
Only one online vote is permitted per … .
In case of bankruptcy you can lose your ... assets.
6) farm
Our … was 300 acres with a dairy herd, beef cattle and corn.
From the nation’s earliest days, ... has held a crucial place in the American economy and culture.
American ... owe their ability to produce large yields to a number of factors.
7) money
Since the inflation of the 1970s, Federal Reserve … policy has emphasized preventing rapid escalation of general price levels.
When the general price level is rising too fast, the Federal Reserve acts to slow economic expansion by reducing the … supply, thus rising short-term interest rates.
8) innovation
… seek greener PC future.
In an industry built on … new ideas are being touted every day.
9) serve
The biggest U.S. … export category was travel by foreigners to the United States.
We see signs of improving demand in the various markets we … .
10) grow
Over the past decade, U.S. exports accounted for about a quarter of the economic … .
May your imagination run wild and your enthusiasm … !
11) dominate
Universities in the USA and the UK continue to … a list ranking the world's top higher education institutions.
US … is likely to weaken by 2025 as India and China grow stronger, a new Washington intelligence report says.
12) organize
The US government is trying to … an emergency meeting of finance ministers from the world's leading economic powers.
The structure of business … depends on the nature of their activities.
M. Summarize the information about the US Economy. Use the headings below.
Historical background
Basic ingredients of the American economic system
Types of businesses
The role of the government
Key sectors of the economy and their contribution towards the GDP
OVER TO YOU
Write a summary about the US economy on one of the following topics and present it to your groupmates.
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WORD FILE
Unit 3 Module 2 |
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capital government state financial center skyscraper legislative branch executive branch juridical branch head of state armed forces border federal union Senate House of Representatives Supreme Court political party anthem stripe bill free enterprise system wholesale/ retail trade private ownership small/ medium-sized/ large business corporation conglomerate Federal Reserve System district entrepreneur
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subway consumer output gross national product (GNP) economic gain/ growth/slowdown mixed/ industrial economy inland lakes shipping access productivity spending price level computer-related venture co-owner sole proprietorship niche/ specialized market strength failure business partnership franchising chain store delivery service major player bankruptcy assets sales revenue housing/ stock market fiscal policy/ monetary policy money supply agribusiness
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net income yield successful powerful dominant stable (prices) steady (growth) eventually in exchange for to be rich in to dominate to rise to treat to achieve to meet needs to influence to depend on to strengthen to stand for to bind together to maintain to join forces to authorize to create/ start/ expand a business to take the lead to charter to respond to to take into consideration |
Module 3 Canada
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