- •Text 1. History of economic thought
- •1Complete each sentence with a word or phrase from the box.
- •2 Now read the text again and decide whether these statements are true or false.
- •Exercises
- •1 Choose the correct answer a, b or c from the list below.
- •3. Discuss these questions with your partner.
- •Exercises
- •1.Complete each sentence with a word or phrase from the box.
- •Exercises
- •1.Match the words and phrases with the definitions.
- •2.Now read the text again and answer these questions in your own words in the space provided below.
- •3.Now listen and tick which transactions in the list are mentioned.
- •Exercises
- •1. Choose the correct answer a, b or c from the list opposite.
- •2. Now read the text again and choose the sentence which best summarises each paragraph.
- •3.Discuss this question with your partner.
- •Exercices
- •1.Match the words and phrases with the definitions.
- •2. Now read the text again and decide whether these statements are true or false. If the statement is false, correct it.
- •3.Discuss this question with your partner.
- •4. Try to complete this paragraph about autarchies by using words from the box.
- •Exercises
- •1.Match the words with the definitions.
- •2.Now read the text again and match each paragraph with the correct heading.
- •Exercises
- •Match the words and phrases with the definitions.
- •3. Discuss these questions with your partner.
- •Exercises
- •1. Answer the questions.
- •2. Choose the necessary word and put in the sentence.
- •Exercises
- •1.Choose the correct answer a, b or c from the list opposite.
- •2. Now complete each sentence with words. Then listen and check your answers.
- •4. Discuss the following with your partner.
- •Exercises
- •1.Now read the text again and answer these questions in your own words in the space provided below.
- •2 Choose the correct answer.
- •In the real economy:
- •Exercises
- •I. Match the words with the definitions.
- •II.Now read the text again and complete the sentences below in your own words in the space provided.
- •III. Discuss these questions with your partner.
- •Dialogue
- •Exercises
- •1.Choose the necessary word and put it in the sentence.
- •Answer the questions.
- •Make transformations according to the model.
- •Exercises
- •Answer the questions.
- •2. Choose the necessary word and put it in the sentence.
- •Exercises
- •1. Change the sentences according to the model.
- •Make up the conditional sentences.
- •3. Answer the questions.
- •Exercises
- •Dialogue
- •Exercises
- •Exercises
- •1.Complete each sentence with a word or phrase from the box.
- •3 Now listen and complete the summary with words or numbers.
- •5. Give a two-minute talk on price. First make notes below on the following.
- •6. Imagine that you’ve got a good idea for an Internet commerce site (an Internet site which is also a business).Tell your friend what your idea is.
- •Dialogue
- •Change the sentences according to the model.
- •2. Change the sentences according to the model.
- •3. Answer the questions.
- •4. Make sentences interrogative and negative.
- •5. Choose the necessary modal verb and put it in the sentence.
- •1. Complete each sentence with a word.
- •Exercises
- •Dialogue
- •Exercises
- •Change the sentences according to the model.
- •3. Answer the questions.
- •Exercises
- •Dialogue
- •Exercises
- •I. Transform the sentences according to the model.
- •III. Answer the questions.
- •I. Answer the questions.
- •II. Select the necessary word in the sentence.
- •Dialogue
- •Exercises.
- •Exercises
- •I. Answer the questions.
- •Dialogue
- •Exercises
- •III. Answer the questions.
- •Exercises
- •1. Answers the questions.
- •2. Choose the necessary word and put.
- •3. Put the verbs in brackets into the proper present tense
- •Dialogue
- •Exercises
- •Transform the sentences according to the model.
- •Exercises
- •Exercises
- •II. Read the text again and choose the best answer or answers for each question.
- •Informal letter
- •Iy Work in groups of three or four. Imagine you and your friends are running the country.Things are not going well! Here are some of your problems.
- •Dialogue
- •Exercises
- •Give affirmative and negative answers to the questions.
1. Complete each sentence with a word.
■comparative ■ exploit ■ incentive ■ quota ■ restrict ■ specialises ■stimulate ■ tariffs
1 All countries try to......................the natural resources that they have.
2......................are a kind of tax that the government puts on imported goods.
3 Low interest rates can help to......................the economy and make it grow.
4 A rise in salary is an......................to make people work harder.
5 The UK economy......................in services such as banking and insurance.
6 Governments sometimes need to......................the flow of imports and exports.
7 The opposite of absolute is.......................
8 They have a......................which must be fulfilled if they want to keep the contract.
2. Now read the text again and decide whether these statements are true or false. If the statement is false, correct it in the space provided.
1 Imports can be good for an economy.
2 A country’s natural resources can give it an absolute advantage over other countries.
3 A country with an absolute advantage will always have a comparative advantage, too.
4 A small economy can have a comparative advantage over a larger economy.
5 Specialising in one area of trade will give a country a comparative advantage.
6 Tariffs and quotas are used in order to increase imports into the economy.
3You’re going to listen to four people talking about trade restrictions. Match the speakers with the reasons for restricting trade.There is one extra reason that the speakers do not mention.
SPEAKER 1......................
SPEAKER2......................
SPEAKER 3......................
SPEAKER 4......................
A to stop imports of dangerous goods
B to protect local jobs
C to punish other countries who use restrictions
D to stop the local market being flooded with cheap imports
E to let new local industries grow
4 Discuss the following with your partner.
Do you remember these ideas from earlier units? Tell your partner what you know about these things:
-> opportunity cost
-> economic welfare
-> the benefits of an open economy
5 Discuss this question with your partner.
-» Why do you think governments sometimes use tariffs and quotas to restrict free trade with other countries?
Text 2. INTERNATIONAL BUSINESS
The international corporation or global company has its origin. Usually it is the outgrowth of the great trading companies of the 17th and 18th centuries. In 1811 a New York statute said corporations could be created by the filing of documents. After that it became a matter of bureaucratic operations to become a corporation. By 1850 it was a very common thing in the United States and was under general statute in European countries as well. Since that time the corporate movement began.As the jet plane, satellite communications and computers began, it became possible for a company to control business in all the world.
The growth of international corporates operations is faster than the economic growth of the industrialized nations. There are some projects which predict that within a generation almost a half of the free words production will be internationalized.
This trend for internationalism presupposes some benefits such as new jobs, higher living standards and the closing of the gaps between people – economic, educational and technological. At the same time serious questions can be asked. Is it the most efficient way to use world researches? Can the international corporation be the best force for a better world? Is it politically stronger than government? Can it take care of the self interest and competitiveness on behalf of the greatest good? And in what way can the global company work toward easing the worlds crises – monetary, political, energy and food?