Talking Points

1. Give your arguments to support the following statements.

A. Marketing helps people satisfy their needs and wants.

B. Prices serve as a link between producers and consumers.

2. Express your opinion on the following points.

1. If you had such a chance, what goods and services would you promote in the Belarusian market? Explain your choice, using the following expressions.

- I think …

- In my opinion …

- To my mind …

- As for me …

- It seems to me …

2. Prove or disprove that price stability (i.e. keeping inflation low) is more important than other economic aims, such as attempting to reduce unemployment.

Summary Points

1. Look through the text from Reading once more and divide it into 6 logical parts.

2. Fill in the missing points in the plan of the text.

I. What is market?

II.

III.

IV.

V. Functions of prices.

VI. The role of prices in different markets.

3. Use the plan of the text to summarize its contents.

Unit 9

FACTORS OF PRODUCTION

Lead-in

1. Of the three factors of production in classical economics – land, labour, and capital – land may be the most difficult to define. In your opinion, does it refer just to the land itself?

2. Do you agree that understanding the factor of entrepreneurship is an important part of understanding the dynamics of the market economy? Why?