Task 7. Fill in the correct words from the previous exercise into the gaps below (not all words are needed)

1. The economic _________ for socialism is to reduce the inefficiency and low productivity of a highly bureaucratized command economy.

2. Weber argued that the economic behaviour that Smith took to be "human nature" was actually _________ to a certain period of history.

3. Nowadays people can easily _________ a new arms race on the world.

4. Some scientists suggested that Soviet system _________the progress of business.

5. An avoska is a string bag for the odd _________ that you find something unexpected.

Task 8. Are the following statements about the text true (T)or false(F)?

1.	Socialism is another definition of economic freedom.	T / F
2.	In mixed economies we join a relatively free market with some government controls.	T / F
3.	Unfortunately, Adam Smith's world gone with the wind.	T / F
4.	Workmanship and productivity can not be improved because everybody has a job.	T / F
5.	The principle of self-inter­est has led to anticompetitive measures and attempts to form monopolies.	T / F

Task 9. Now look again at the text and find words in the paragraphs 1-6, which have opposite meaning:

a) precise (1) _______________________

b) a weakness (1) _______________________

c) a loss (2) _______________________

d) an answer (3) _______________________

e) a producer (4) _______________________

f) a dabbler (4) _______________________

g) visible (5) _______________________

h) a socialism (5) _______________________

i) insincerely (6) _______________________

Task 10. Complete these sentences with the words from the box.

market competitive capitalist economy efficiency

1. The _________ is the social institution spe­cializing in production and exchange of goods and services.

2. The _________mar­ket system in industrial societies has brought steady economic growth

3. _________ economies today are mixed econ­omies, which combine relatively free mar­kets with government controls.

4. The capitalist la­bour _________has produced chronically high rates of unemployment.

5. The require­ments of productive _________have given rise to giant oligopolistic enterprises.

Task 11. Rearrange the letters to form a word used in the unit, then match the word to its definition.

	sailiactpm		a a system of public ownership and management of the means of production and distribu­tion of goods;
	zinaolndriiustati		bthe condition of getting more goods and services for less effort;
	pololigyo		c an econ­omy in which the principles of the competitive market are allowed to work without hindrance by authorities;
	uoprtidciytv		d the process of shifting from hand tools to power machinery, whose long-range social results are a shift from a manual to a non- manual labour force;
	cmsloaiis		e a general statement that explains the re­lationship among facts;
	nthyocleog		f an economic system in which the means of production are owned by private firms and individuals;
	rehyot		g the socially accumulated knowledge of how to make use of nature;
	airsle-sazief		ha market dominated by a few firms.

Task 12. Use the words from the right side to make the expressions with the words from the left side. Then translate them into Ukrainian.