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IV. Answer these questions using the active vocabulary of the text.

III. Read the text and give the definition of business. | V. Read the text again and decide whether these statements are true (T) or false (F). | II. Match the words in the left column with the definitions in the right column. | VII. Choose the appropriate translation of the following sentences. | IV. Read the text and check up your answers in ex. III. | V. Answer these questions using the active vocabulary of the text. | Batch production | II. Match the words in the left column with the definitions in the right column. | VI. Find Russian equivalents to the following phrases in the second column. | III. Read the text and say who made America great. |


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1. What is the definition of economics?

2. Why are resources scarce?

3. What are the two main theories of economics?

4. What do they deal with?

5. What are the goals of economic policy?

6. What is inflation?

 

V. Read the text again and decide whether these statements are true (T) or false (F).

1. Economics is the study of how society allocates scarce resources and goods.

2. Society's tendency is to demand more resources and goods than are available.

3. The term market refers to any arrangement that allows people to trade with each other.

4. Microeconomics is concerned with the study of the market system on a large scale.

5. Macroeconomics is concerned with the choices made by small economic units such as individual consumers, individual firms, or individual government agencies.

6. Economic policies are normally implemented and administered by the private sector.

7. Three widely accepted goals include labor force, inflation and the incomes of all consumers.

 

VI. Find Russian equivalents to the following phrases in the second column.

1.scarce resources 2.available 3.on a large scale 4.aggregate performance 5.household 6.implemented 7.value judgments 8.strive to 9.appropriate goals 10.general price level a)в крупном масштабе b)доступный c)хозяйственный d) субъективные оценки e)недостаточные ресурсы f)общий ценовой уровень g)реализованный h) стараться, пытаться i)совокупная производительность j)соответствующие показатели

VII. Make an outline of the text consisting of 5-8 sentences.

VIII. Retell the text according to its outline.

 


III. Types of Companies

I. Go through the following vocabulary notes to avoid difficulties in understanding and find these words in the text.

debt долг bankruptcy Банкротство
assets активы enterprise предприятие
liabilities пассивы joint venture cовместное предприятие
proprietor собственник accountant бухгалтер
pledge закладывать charter устав

II. Match the words in the left column with the definitions in the right column.

1. sole proprietorship 2. partnership 3. general partnership 4. joint venture 5. limited company a) It is a business in which two or more companies have invested, with the intention of working together; b) It is the legal entity having a right to issue stock certificates; c) It is an association of two or more people involved in business under a written partnership agreement; d) It is more often used by lawyers, doctors, dentists, and chartered accountants; e) It means going into business for oneself.

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