I. Suggest the Russian equivalents

a single living entity with a single conscious mind; a shorthand expression; to be reconciled by adjustment of smth; a suitable part-time job; to offer high wages; to guide smb's decision; to cover the cost of smth

II. Replace the parts in italics by synonyms

at a distance; of theneighborhood, carried out, done; ask for, make certainthat; buy, illness, managing, put up, rareness

III. Increase your vocabulary

Using words from paragraph 5 ("Much of economics,.."),complete the following statements:

1. I quite like lamb but really I __ beef.

2. He was a very keen student. He __ most of the time to his studies.

3. I, don't like the canteen, but it's more ____ than going out to a cafe.

4. I’m not in ___of tong and expensive lunches.

5. Please ___ that your essays reach me on time.

6. A good degree should __ you to g6t a job.

IV. Fill in the gaps, with the words and expressions from the text

1. To understand reports of market behavior you have to ___ the way the works.

2. On the stock market, business can be transacted over the telephone, by__.

3. A market is a __ expression for.the process by which households' decisions about consumption of alternative goods, firms' decisions about what to produce, and workers' decisions about how much and for whom to work all __ by __.

4. Much of economics is devoted to the study of how markets and prices___ piety to solve the problems.

5. ___ your desire to eat, and your limited resources, the low hamburger price you that this was a good way to __ your appetite.

6. Society answers the "for whom" question about lunchtime steaks __ someone else. The cafe owner s in business because it is still possible to sell hamburgers __.

7. If rents were higher, it might be more profitable to sell hamburgers in a cheaper area or __ to__ lunches.

8. The student is working there because it is a suitable __, which pays a bit of money.

9. Society is allocating resources into hamburger production __ the price system.

10. If nobody hiked hamburgers, the owner could not sell enough at a, price of running the cafe and society would __ no resources to hamburger production.

11. If cattle __, competition to purchase more scarce supplies of beef would__ the price of beef.

12. Adjustments in prices would encourage society __ resources to reflect the increased scarcity of cattle.
14. There were several markets __ your purchase of a hamburger.

13. The student behind the counter was part of the local __ market.

14. The cafe owner was part of the local __ meat market and the local market for __ buildings.

15. We ___ a very general definition of markets, which emphasizes that they are __ through, which prices influence the allocation of scarce resources.

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