Ex. 12. Make the sentences passive

1. People first used precious metals as money on the basis of weight.

2. We determine the price of the product by the interaction of demand and supply.

3. The government will increase the standard of living of the population.

4. Their new manager has offered them a considerable increase in salary.

5. Nature provides all the natural resources.

6. The state must supply public goods.

7. They are testing the equipment at their plant at the moment.

8. At the previous lessons we have discussed some economic issues.

9. The classical economists regarded money as no more than a medium of exchange.

10. We had established business relations with the firm by 2005.

Ex. 13. Complete the following sentences by putting the verbs into either the Present

Perfect r the Past Simple.

1. We _____________ (reach) our targets last year.

2. Sales ________________(fall) since the beginning of June.

3. Contracts ______________________ (be signed) but work __________________(begin) yet.

4. The marketing department _________________(recruit) two new assistants so far this year.

5. We _____________ the advertising campaign last month and since then sales _____________

(rocket).

6. Our research __________________(be carried out) last year but still _____________(not see)

the results.

7. Turnover _________________(rise) dramatically since we _________________(be founded).

8. We ______________(expect) a fall in profits last year as our costs nearly ________________

(double).

9. We ____already (sell) more units this year than we ____(do) in the whole of last year.