Post-reading activities. 1. Match the words on the left to those on the right

1. Match the words on the left to those on the right. Make 10 word partnerships and translate them into Russian.

1. essential a. management

2. similar b. economy

3. available c. resources

4. market d. lives

5. household e. economics

6. economic f. things

7. basic g. wants

8. everyday h. needs

9. modern i. activity

10.material j. issues

2. Find in the text the English equivalents for the following Russian collocations.

1. происходит от греческого слова; 2. означает управление домашним хозяйством; 3. изучение человечества в повседневной жизни; 4. основоположник современной экономики; 5. мы не можем быть удовлетворены только этими самыми необходимыми вещами; 6. механизм, посредством которого; 7. сильно различаются; 8. все общества должны решать одинаковые экономические вопросы; 9. имеющиеся в наличии производственные ресурсы; 10. удовлетворять желания и потребности

3. Choose the best alternative to complete the sentence.

1. Economics deals with the use of available productive resources in a ….

a) region b) society c) district d) market

2. Desires and … are often conflicting.

a) skills b) demands c) wants d) wishes

3. People can’t be satisfied with only such … things as food, clothes and shelter.

a) unique b) similar c) affluent d) essential

4. All societies have … with similar economic issues.

a) to deal b) to consider c) to decide d) to outline

5. The word ‘oikonomica’ means … management.

a) market b) sales c) enterprise d) household

4. Complete the sentences.

1. ‘Oikonomica’ means …

2. … the study of mankind in the everyday business of life.

3. Adam Smith was the first …

4. The science of economics is concerned with …

5. All societies must deal with …

6. The discipline of economics deals with …

5. Say whether the following statements are true or false.

1. Economics is the study of mankind in the everyday business of life.

2. Economy is the study of economics.

3. People can’t be satisfied with only such essential things as food, clothes and shelter.

4. Different nations use similar rules, institutions and traditions to coordinate economic activity.

5. The discipline of economics deals with production, distribution, consumption and scarcity.

6. Alfred Marshall is considered to be the founder of modern economics.

6. Answer the following questions.

1. Who was Alfred Marshall?

2. Who was the first to outline a free market economy?

3. What does the word ‘economics’ come from?

4. What is economics?

5. Give the definition of the economy.

6. Do all societies have to deal with similar economic issues?

7. Get ready to discuss the following.

The original word ‘oikonomica’ means household management. Do you think that this meaning is still relevant? Is it important to keep your household in an economical way?

Read Text B using the dictionary and do the following tasks.

1. Think of the title to the text.

2. Make up 5-6 questions of different types.

3. Give a short summary of the text.

Text B

Companies (or businesses) are units of business organization carrying on some productive activity resulting in the creation of goods and services to satisfy wants.

Businesses take one of three forms of organization: a proprietorship, a partnership, and a corporation.

A proprietorship has a single owner, called the proprietor, who is usually also the manager. Proprietorships tend to be small retail establishments and individual professional businesses, such as those of physicians, attorneys and accountants.

A partnership joins two or more individuals together as co-owners. Each owner is a partner. Many retail establishments as well as some professional organizations are partnerships. Most partnerships are small and medium-sized, but some are gigantic, running to 2,000 partners.

A corporation is a business owned by stockholders. The business becomes a corporation when the state approves its articles of incorporation. A corporation is a legal entity, an “artificial person” that conducts its business in its own name.

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