Определите верное или неверное утверждение
1. All businesses produce goods and service and seek profits.
2. Economic machines always run smoothly.
3. The price are determined through the interaction of demand and supply.
4. Only Britain operates a mixed system splitting the economy into public and private sectors.
5. The natural monopolies are transport, gas, electricity, and water supply.
6. The State doesn’t regulate business and economy.
7. The value of all goods and services produced in the economy measured by gross domestic product (GDP)
8. Interaction of consumers, producers and the government constitutes economic activity.
Grammar Exercise
Present Tenses.
Выберите правильный вариант из предложенных:
1. My mother is a medical nurse; she takes care of sick and old people. What ..... for a living?
a. does your mother do
b. is your mother doing
c. has your mother done
d. has your mother been doing
2. Jake is a good footballer. Do you know since when ..... football?
a. he has been playing
b. he plays
c. has he been playing
d. is he playing
3. Zeta has sent me two letters; neither of which ..... .
a. has arrived
b. have arrived
c. arrive
d. is arriving
4. What ..... with yourself? There is mud all over you!
a. has you been doing
b. are you doing
c. did you do
d. have you been doing
5. Jerry promised to come to work in time. He is not here, and he even ..... .
a. isn’t calling
b. hasn't called
c. hasn't been calling
d. doesn’t call
6. I am sorry Ann can’t come to the phone right now because she ..... a shower.
a. is taking
b. has taken
c. takes
d. has been taking
7. - Hello! May I speak to John, please? - Sorry, he is out. He has gone to the library. He ..... for his History exam there.
a. has been reading
b. is reading
c. reads
d. has read
8. - Do you remember me? - Of course, I do. We ..... several times before.
a. have met
b. meet
c. met
d. have been meeting
9. The government is worried because the number of people without jobs ..... .
a. increases
b. has increased
c. is increasing
d. has been increasing
10. Paul looks young for his age. He says he is 56 years old, but nobody ..... him.
a. hasn’t believed
b. is not believing
c. believes
d. believe
Тема № 2 Microeconomics
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Microeconomics, like macroeconomics, is a fundamental method for analyzing the economy as a system. It treats households and firms interacting through individual markets as irreducible elements of the economy, given scarcity and government regulation. A market might be for a product, say fresh corn, or the services of a factor of production, say bricklaying. The theory considers aggregates of quantity demanded by buyers and quantity supplied by sellers at each possible price per unit. It combines these together to describe how the market may reach equilibriumas to price and quantity or respond to market changes over time.
Such analysis includes the theory of supply and demand. It also examines market structures, such as perfect competition and monopoly for implications as to behavior and economic efficiency. Analysis of change in a single market often proceeds from the simplifying assumption that relations in other markets remain unchanged, that is, partial-equilibrium analysis. General-equilibrium theory allows for changes in different markets and aggregates across all markets, including their movements and interactions toward equilibrium.
Here economists distinguish between Production theory, Opportunity cost, Economic efficiency, and Production-possibility frontier.
In microeconomics, production is the conversion of inputs into outputs. It is an economic process that uses inputs to create a commodity for exchange or direct use. Production is a flow and thus a rate of output per period of time. Distinctions include such production alternatives as for consumption (food, haircuts, etc.) vs. investment goods (new tractors, buildings, roads, etc.), public goods (national defense, small-pox vaccinations, etc.) or private goods (new computers, bananas, etc.), and "guns" vs. "butter".
Opportunity cost refers to the economic cost of production: the value of the next best opportunity foregone. Choices must be made between desirable yet mutually exclusive actions. It has been described as expressing "the basic relationship between scarcity and choice.". The opportunity cost of an activity is an element in ensuring that scarce resources are used efficiently, such that the cost is weighed against the value of that activity in deciding on more or less of it. Opportunity costs are not restricted to monetary or financial costs but could be measured by the real cost of output forgone, leisure, or anything else that provides the alternative benefit.
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Inputs used in the production process include such primary factors of production as labour services, capital (durable produced goods used in production, such as an existing factory), and land (including natural resources). Other inputs may include intermediate goods used in production of final goods, such as the steel in a new car.
Economic efficiency describes how well a system generates desired output with a given set of inputs and available technology. Efficiency is improved if more output is generated without changing inputs, or in other words, the amount of "waste" is reduced. A widely-accepted general standard is Pareto efficiency, which is reached when no further change can make someone better off without making someone else worse off.
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