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.

government	regimes
political	inefficiencies
authoritarian	liberty
shoddy	self-interest
disastrous	interfer­ence
in­dividual	depression
notorious	goods