UNIT 1. THE SCIENCE OF ECONOMICS
Read the international words and guess their meanings:
Economic activity, economic system, macroeconomics, microeconomics,
to produce, to operate, to protect, to analyze, to finance, to manufacture, to
specialize, to focus, to affect, service, school, hospital, garage, fact, base,
production, material, industry, radio, strategy, status, export, import, institution,
distribution, division, investment, history, organization, period, spectrum,
agriculture, essential, basic, industrialized, oriented (policy), national, financial,
social, major, fact, base, total, primarily, public.
Text 1.1
Read and memorize the following words and word combinations:
goods and services
to provide services
either… or….
both… and…
to make up
commodity
– для того, чтобы
– товары и услуги
– предоставлять (оказывать) услуги
– или… или, либо… либо…
– как…, так и …
– составлять
– товар (сырьевой)
ECONOMIC ACTIVITY
Most people work in order to earn their living.
They produce goods and services.
Goods are either produced on farms, like maize and milk, or in factories,
like cars and paper.
Services are provided by such things as schools, hospitals and shops.
Some people provide goods, some provide services.
Other people provide both goods and services. For example, in the same
garage, a man may buy a car or he may buy some service which helps him to
maintain his car.
The work which people do is called their economic activity.
Economic activities make up the economic system.
The economic system is the sum-total of what people do and what they
want.
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them with money.
People buy essential commodities with money.
Notes:
the sum-total – общая сумма
EXERCISES
Give Russian equivalents to the following:
To earn their living, goods like maize, services are provided by …, to
provide both goods and services, to maintain a car, the work which people
undertake, to buy with money, essential commodities.
Complete these sentences with the words given below and translate
them into Russian:
essential commodities, provide, undertake, maintain, the sum-total
1. People buy ……. with money.
2. Some people ……., some …. services.
3. The work which people … provides what they need.
4. Some service may help a man … a car.
5. The economic system is ….. of what people do and what they want.
Complete the sentences:
1. Most people work………..
2. Economic activities make up………
3. Economic activity is …………………
4. Economic system is……….
5. A man may buy some service which……
Answer some questions on the Text:
1. Why do most people work?
2. What do they produce?
3. Where are goods produced?
4. What do schools, hospitals and shops provide?
5. What two different things can a man buy in, for instance, a garage?
6. What do we call the work which people do?
7. What is an economic system the sum-total of?
8. What two things can work provide for the market?
9. What can people buy with money?
Text 1.2
Read and memorize the following words and word combinations:
to affect smth., smb. – влиять на что-либо, действовать на кого-либо
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to explain
scientific
– описывать
– объяснить
– научный
касаться чего-либо
Read and translate the Text into Russian.
THE SCIENCE OF ECONOMICS
Economics is a science.
This science is based upon the facts of our everyday lives.
Economists study our everyday lives. They study the system which affects
our lives.
The economist tries to describe the facts of the economy in which we live.
He tries to explain how the system works.
His methods should be objective and scientific.
We need food, clothes and shelter.
If we could get food, clothes and shelter without working, we probably
would not work.
But even when we have these essential things, we may want other things.
If we had them, these other things (like radios, books and toys for children)
might make life more enjoyable.
The science of economics is concerned with all our material needs and wants.
It is not just concerned with basic needs like food, clothes and shelter.
EXERCISES
Give Russian equivalents to the following:
to be based upon, to affect our lives, to describe the facts, to explain how
the system works, objective, probably, essential things, make life more
enjoyable, to be concerned with, basic needs
Complete these sentences with the words