Economic systems

Economic system is the way in which a country uses its available resources (land, workers, natural resources, etc.) to satisfy the wants of its inhabitants for the goods and services.

There are a number of ways in which a government can organize the economy.

There are three main types of economic systems: planned economies, market economies, mixed economies.

Vocabulary

available – имеющийся в распоряжении

government - правительство

inhabitants – население, жители страны

market - рынок

market economy – рыночная экономика

mixed economy – экономика рыночного типа

planned economy – плановая экономика

TASKS

Task 1. Look through the text and write out the names of the economic systems.

Task 2. Give synonyms to the following words:

country

workers

inhabitants

goods

organization

system

Task 3. What factors of production are mentioned in the text?

Task 4. Which one doesn’t logically fit the group?

1. natural, available, market, enjoyable;

2. planned economy, market economy, satisfy, mixed economy;

3. workers, inhabitants, organize, land.

Task 5. Unscramble the sentences.

1. can, are, ways, a, organize, there, economy, government, a, of, in, number, which, the.

2. economies, planned, three, market, systems, there, economies, main, economies, mixed, are, economic.

Task 6. Match the terms in column A with their definitions in column B.

A.

1. government

2. worker

3.economy

4. goods

B.

a) the system by which a country’s goods and services are produced and used

b) things that are produced in order to be sold

c) the group of people responsible for running a country and making decisions about laws, taxes, etc.

d) one of the people who work for an organization or business, and are below the level of manager

TEXT 6