Scarcity, wages, interest, rent, choices, systems, resources
TEST 2
Variant 1 (Level A)
Exercise 1. Check your memory. Match the following Ukrainian words with their English equivalents.
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Exercise 2. Check your memory. Match the following English words with their Ukrainian equivalents.
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Exercise 3.Fill in the blanks with appropriate words:
1. Property owners know they will make ... if they can produce goods and services that buyers want, at ... they are willing to pay.
2. In our economic lives we spend ... to buy the things we want.
3. Price stability refers to time during which ... remain constant.
4. As a national goal, economic efficiency refers to the entire economy's ability to get the most out of its limited ... ..
5. .... are people who use goods and services to satisfy their wants.
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6. The price system provides ... to the fundamental questions of what goods and services will be produced, how they will be produced, and who will receive them.
Money, resources, a profit, the answers, prices, consumers, a price
Exercise 4.Translate into Ukrainian:
The «pillars» of economic system are private property, the price system and competition.
The right to private property gives the owners of natural resources and capital the incentive to use their assets as they can. The price system provides the answers to the fundamental questions of: «What goods and services will be produced?»; «How they will be produced?» and «Who will receive them?». Competition refers to the rivalry among buyers and among sellers.
TEST 2
Variant 2 (Level B)
Exercise 1. Check your memory. Match the following English words with their Ukrainian equivalents.
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Exercise 2. Check your memory. Match the following Ukrainian words with their English equivalents.
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Exercise 3. Fill in the blanks with appropriate words:
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1. Everyone goes through life having to make… .
2. The price paid for the use of land is called …
3. The price paid for the use of labor is called…
4. Traditional economic ... are usually found in the more remote areas of the world.
5. Payment for the use of someone else's money, or capital, is called ....
6. ... exists because human wants are virtually unlimited, whereas the necessaries to satisfy those wants are limited
7. The ... or factors of production as they are called are land, labor, capital and entrepreneurship.
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Scarcity, wages, interest, rent, choices, systems, resources
Exercise 4.Translate into English:
1. Бажання людини безмежні, а кошти, необхідні для здійснення цих бажань, надто обмежені.
2. Економічні чинники впливають на рішення у світі бізнесу. 3. Ресурси, необхідні для утворення товарів і послуг, називають чинниками виробництва. 4. Заробітна плата — це та винагорода, яку отримують робітники за свою працю. 5. Приватна власність, цінова система, конкуренція — головні «опори» економічної системи. 6. Економічні стимули впливають на наше рішення, що і де купити. 7. Бізнесмени купують або продають землю чи інші природні ресурси, якщо сподіваються на прибуток від цієї угоди.
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Grammar Exercises
Variant 1
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