Exercise 1: Translate the following sentences into Russian; use the Vocabulary to the text.

1 If the price is higher than the equilibrium one, it will be falling till the equilibrium price isreached and there is no more surplus left. If a good is sold at a price below the equilibrium one, the price will grow and reach the equilibrium price till there is no more shortage of the good left.

2 Governments buy and produce many goods and services, such as defense, education, parks, and roads for firms and individuals.

3 Firms producing computers act as buyers in the markets for the ser­ vices of computer programmers.

4 Governments, through their control of the quantity of money in the economy, can influence business activity.

5 With a reduction in input prices firms will supply more of a good at each price.

6 Inflation is a rise in the level of prices as demand is higher than supply because of an increase in the supply of money.

7 When there is a harvest failure, the producers' supply will decrease.

8 Supply restrictions imposed by cartels are as characteristic of industri­alized economies as of developing economies.

9 Private sector in a mixed economy is that part of the economy that is controlled by private firms, not by government or corporations.

10. Excess supply is a situation in which, at a certain price, the quantity of a good demanded by buyers is less than the quantity supplied by pro­ducers.

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