To develop, development, developed, developing

2. The ___ countries are mainly agricultural primary producers whose economy is based on relatively primitive farming methods.

3. Such countries rely heavily on the export earning from the sale of their primary products to the ___ countries.

4. It is usually advantageous for countries ___ their own manufacturing industries.

5. Many countries aim at ___, but few are successful.

Ex. 2. Match the following common collocations with their Russian equivalents:

A	B
1) промышленно развитые страны 2) новые промышленнo развитые страны 3) развивающиеся страны 4) сложная банковская система 5) возникать из экономики 6) энергичная торговля 7) большая восьмерка 8) Всемирный банк 9) Международный валютный фонд 10) мировое производство 11) составлять 12) справляться 13) угроза терроризма 14) быть отягощенным 15) Организация по экономическому сотрудничеству и развитию	a) stem from economics b) industrialized or developed countries c) newly developed countries d) developing countries e) vigorous trade f) G-8 g) account for h) threat of terrorism i) to be weighted down with j) the Оrganization for Economic Cooperation and Development (OECD) k) world output l) cope with m) sophisticated banking system n) International Monetary Fund (IMF) o) the World Bank (WB)

Ex. 3. Math the verbs in column A with nouns in column C. Do not forget the proper preposition in column B.

A	B	C
stem	for	poverty
cope	from	70%
account	down with	economics
weight	on	protectionism
concentrate	in	light manufacturing
engage	on	debt
rely	on	foreign borrowings
depend	with	specific situation

Ex. 4. There is a logical connection among three of the four words (or word combinations) in each of the following groups. Which is the odd one out, and why?

1) global economy -international trade-multinational corporations- fiscal policy;

2) GDP- IMF – OECD – WB;

3) the UK-the USA-Germany-Pakistan;

4) Hong Kong – Singapore – Taiwan – Chile;

5) IN – NID – LDC – VAT;

6) low income - poverty- unemployment – broad range of products;

7) productive capital – sophisticated banking system- vigorous international trade- political dislocation.

Ex. 5. Complete the following sentences, use the prompts below:

1. Economists classify the world’s economies as _______, ______and ________ nations.

2. The term ______refers to economic growth based on renewable resources and minimal environmental degradation.

3. An _____has a large base of productive capital, sophisticated banking systems and financial markets, a variety of industries producing a broad range of products, and vigorous and varied international trade.

4. Newly industrialized nations (NICs) have a rapidly growing base of productive capital and ______.

5. A number of developing nations have large, growing urban populations and serious difficulties with___,___ and ___.

Words for reference: industrialized, newly developed and developing; sustainable growth; industrialized economy; rising incomes; unemployment, crime, and poverty in the cities.