Explanation for their prices, (careful, good, relative)
6. she managed to pass her exams . (fortunate, final, easy)
7. My tutor emphasized the importance of putting ideas in a order, (great,
logical)
8. analysis ignores induced effects, (partial, indirect)
9. The economist keeps his analysis without distorting reality, (sensible,
manageable, undue)
10. She's an novelist - something and happens in her stories, (excellent,
unusual, exciting, constant)
VIII. Problem Pairs. These pairs of words often cause problems. Choose the correct alternative for each.
1. ECONOMIC/ECONOMICS
a) She studied at university and is now an economist with a big international
bank.
b) She analyses the general problems faced by companies operating within
traditional industries like shipbuilding.
2. ECONOMY/ECONOMIES
a) Their government is trying to liberalize the while keeping tight political
control.
b) Overheads are getting out of control and we need to make major right across
the business.
3. ECONOMIC/ECONOMICAL
Prices are rising and the number of jobs is falling. It's not just a business problem, it's general problem.
This car uses less petrol than the other one so this one is the more .
4. PRODUCTION/PRODUCTIVITY
A) We will increase pay if the employees raise their .
b) If we don't get another order soon, we'll have to cut and maybe close the
factory.
5. EXPENSES/EXPENDITURE
We have to reduce our general : we must cut costs wherever we can.
Andrew must cut his travel, accommodation and entertainment : he'll have to
stay in cheaper hotels and take clients to cheaper restaurants.
6. TAKE OVER/OVERTAKE
a) They want to our company but I don't think their offer is high enough for our
shareholders to sell.
b) They expect to all their main competitors, in terms of sales, within a year of
the launch of their new product.
7. BASIS/BASIC
a) He only speaks English: it's sometimes difficult to understand what he is
trying to say.
b) Well, I think we have a good for discussion after lunch.
8. RAISING/RISING
Prices are at a rate of about 4% per year.
The company is its prices by 5% this year.
X
.
Writing Practice. Make
a short summary about economics from the text. Use the opening
phrases from Appendix 1.
Opening phrases
The text is about... According to the text... The text looks at (the problem of...) ... The text deals with the issue of... It is clear from the text that... The experts (author) make it clear 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...
I'd like to stress the point that...
I'd like to draw the attention of ... to the fact that...
I'd like to suggest; remind