VI. Look at the photo. Answer the question

V. Suggest the Russian equivalents for the words and word-combinations given below

IV. Answer the following questions

III. Learn the following words

to cast – подводить итог, подсчитывать

cost - себестоимость

to enable – давать возможность

ingredient – составная часть, ингредиент

to interact взаимодействовать

old-fashioned – устаревший

to own – владеть, обладать

polling booth – кабина для голосования

request – просьба, требование

selling price - продажная стоимость

storekeeper - лавочник

to undersell – продавать дешевле других

1. Why is it likely in a market economy that if consumers want some goods, they will get them?

2. What is free enterprise economy?

3. What essential elements are there in a market economy?

4. Who owns the means of production in a market economy?

5. Why does the profit motive give sellers the incentive to produce at the lowest possible cost?

6. Why do economists compare markets to polling booths?

7. Consumer votes can be a matter of life and death to business in a market economy. Why? Explain it.

Free enterprise system, essential elements, private property, means of production, to be publicly owned, profit margins, a kind of economic polling booths, charging a price, wholesale customers, to satisfy the requests.

Free enterprise in action. How do the activities in this photo illustrate the ways in which free enterprise answers the What, How and Who

questions?

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