Ex. 1. Match the words with their definitions

____ surplus a) custom, practice of long standing.

____ generation b) the degree to which a person or group of persons and

their families are able to satisfy their wants.

____ tradition c) a quantity or amount in excess of what is required

____ command economy d) all persons born about same time

____ standard of living e) people or race organized as a state

____ nation f) an economy in which business activities and the allocation

of resources are determined by government order

____ private property g) an economic model that calls for government control of

all important economic activities.

____ profit h) land or belongings owned by a person or group and kept

for exclusive use.

____ an order i) an economy in which business activities and the

allocation of resources are determined by government

order rather than market forces.

____ raw materials j) style in clothes, cosmetics, behaviour, etc

____ central planning k)a motivating influence; stimulus

l) the income held to be the motivating factor of all economic

____ command economy activity in a capitalist economy

____ fashion m) basic natural materials before any manufacturing

____ incentive n) an instruction that must be obeyed; command

Ex. 2. Give Russian/ English equivalents to the following words and word combinations:

standard of living ___________________________________________________

to use available resources_____________________________________________

societies have created different economic systems _________________________

the problem of scarcity__________________________________________________

isolated tribes ______________________________________________________

when such a surplus exists ____________________________________________

remote areas of the world _____________________________________________

they have enough to sustain themselves ___________________________________

rural areas __________________________________________________________

very slowly changing traditions __________________________________________

владеть фабриками, землей и природными ресурсами__________________________

планирование ____________________________________________________________

планировать на пять лет вперед _____________________________________________

преимущества и недостатки ________________________________________________

гарантировать ____________________________________________________________

предметы роскоши ________________________________________________________

побудительный мотив _____________________________________________________

личная собственность ______________________________________________________

стоять перед проблемой ____________________________________________________

очередь___________________________________________________________________