Comprehension Check

1. Are these statements True or False? Use the following expressions:

I (don’t) agree that… (я (не) согласен, что…)

I think that… (я думаю, что…)

1. Any highly developed country has to answer three main questions.

2. Traditional economies are dictated by very little economic growth.

3. A free market economy is an economy in which the prices of goods and services are determined in a free price system.

4. A planned or command economy is the opposite of a mixed economy.

5. A planned economy is the one that can limit the growth and advancement of the country.

6. A mixed economy is a mixture of market and planned economies.

7. In a mixed economy the influence of the government is considerable.

2. Complete the sentences.

1. Three main questions any economy has to answer are: ….

2. Different economic systems have developed to ….

3. One of the features of traditional economies is ….

4. In a market economy … takes place in a free market.

5. In a command economy, the government decides ….

6. Planned economies can provide stability, but ….

7. … the government may have a monopoly.

3. Check how well you know some characteristic features of different types of economic systems. Are these statements about market, command, or traditional economies?

1. You can decide what job you would like to do in this economic system.

2. Making a profit is highly stressed in this economic system.

3. Making money is not stressed in this economic system.

4. You will work at the same job that your ancestors worked at in this economic system.

5. You produce what your ancestors produced in this economic system.

6. The government decides what you will produce in this economic system.

7. You decide what you will produce in this economic system.

8. You work in this economic system to make as much money as you want.

9. Competition, material rewards, self-gain, and freedom are the basic values for this economic system.

10. Custom, traditional ways and beliefs are the basic values of this economic system.