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Ex.8. Combine two parts logically to make complete sentences
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| Economics may appear to be the study of complicated | a | the production, distribution, and consumption of goods and services. | |
| Economics is the study of what constitutes rational human | b | allocating scarce resources between competing uses. | |
| Modern economics began in 1776, with the | c | limited resources as to best satisfy their wants, needs, and desires. | |
| Modern definition of economics interprets it as the social science, which analyzes | d | an economic profit from it by combining all other factors of production. | |
| Economics studies human behaviour and explains how individuals and groups make decisions with | e | the benefits of options of different goods and choosing the one with the highest benefit. | |
| Economics is called the study of scarcity because economic activity | f | scarce resources to satisfy their unlimited wants. | |
| The entrepreneur is an individual who takes an idea and attempts to make | g | publication of Adam Smith's Wealth of Nations. | |
| The main problem in economics is the question of | h | tables and charts, statistics and numbers. | |
| Most of economics is based on the simple idea that people make choices by comparing | i | behaviour in the endeavour to fulfil needs and wants. | |
| Economics is the study of how people choose toallocate | j | would not exist if scarcity did not force people to make choices. |
Ex.9. Look through the text again and replace the words/phrases in italics with similar ones.
1. The term “economics” comes from the Ancient Greek “oikonomia”, the word composed of “oikos” ("house") and “nomos” (“custom” or “law”), thus, “rules of the house(hold)”.
2. Wants and needs refer to people’s wants to consume certain goods and services.
3. In economic terms, a good is a physical object that can be bought.
4. Economics often uses such categories as factors of production, which are basic elements used tomanufacture goods and services.
5. Scarcity exists because people’s wants and needs are greater than the resources available tomeet them.
6. The main problem in economics is the question of allocating limited resources between competing uses.
7. That’s why very significantdecisions must be made about three basic economic questions: What to produce? For whom to produce? and How to produce?
8. For the purpose of answering this question we need to determine the needs of individual consumers as well as the economy in general.
9. Goods are thus produced for those consumers who demand the goods, and have the ability to pay for the goods demanded.
10. No aspect of life is untouched by economics – despite the fact that it can be hard to convey its central importance in human lives.
Дата публикования: 2014-10-25; Прочитано: 558 | Нарушение авторского права страницы | Мы поможем в написании вашей работы!
