3. Explain the meaning of the following words and word combinations.

The social process of tradition, the political process of command, a market process, a transaction, a competitor, to produce a service, an economic system, a market economy.

4. Choose the variants that best explain the ideas of the sentences below.

1. All the three processes (social, political and market) are at work to some extent in every society.

1. The elements of all the three processes can be found in any society.

2. All the three processes exist until the government interferes in them.

2. If you are growing tomatoes in your backyard “for sale”, you are producing “for the market”.

1. If you are growing tomatoes for sale you are involved in a market process.

2. If you want to grow tomatoes you should sell them at the market.

3. Whenever you sell your tomatoes they will be re-sold at the market.

5. Comment on the following sentences in economic sense.

The productive ones get to consume and live. The unproductive ones die.

6. Practise reading §§ 8 and 9. Translate them into Russian. Give a short summary of the passage.

7. Give profound answers to the following questions.

1. What are three basic economic questions?

2. What are three basic economic social choices?

3. Why is it unnecessary to produce by yourself everything you need?

4. Why is the market process said to be an extension of the way things work in nature?

5. In what way does a market modify the natural “produce and consume” cycle?

6. How is a market defined in professional terms?

C. How the text is organised

1. What are these concepts associated with in the text? Match them.

social process	market economy
political process of command	traditional economy
free actions of individuals and businesses regulated through price mechanism	command economy
surviving of the strongest ones and dying of the weakest ones	market
exchange goods and services	laws of the nature

2. The idea of which paragraphs is summarized in the following sentences?

1. The market process modifies the process in the nature.

2. A market is not only a place.

3. Traditional economy is inefficient in advanced societies.

4. You need not produce everything for yourself.

5. Any type of economy is based on the economic choice of the society.

6. Any individual transaction is the part of a market process.

3.Find the paragraphs of the text dealing with the following concepts.

Concepts of a market and a market economy; economic choices and basic economic questions; the most efficient type of economy.

V. Speaking

A. Discussion

Work in pairs or small groups. Discuss the following issues.

1. Traditional economy: “pros” and “cons”.

2. Command economy: “pros” and “cons”.

3. Market economy: “pros” and “cons”.

B. Giving your opinion

Give your opinion on the following issue:

"The Concept of the Market in the Republic of Belarus".

C. Role play