III. Define the part of speech of the following words and translate them.
II.Answer the following questions.
Commentary and Notes to the text.
1. demand [dɪ'mɑːnd] спрос
2. price [praɪs] цена
3. depend on- зависеть от
4. charge for - назначать, запрашивать цену за
5. article [ʹɑ:tık(ə)l] предмет; вещь; товар
6. be in demand- пользоваться спросом
7. commodity [kə'mɔdətɪ] предмет потребления; товар, продукт для продажи
8. supply [sə'plaɪ] предложение; снабжение, поставка
9. willing ['wɪlɪŋ] готовый (сделать что-л.) ; охотно делающий (что-л.)
10. substitute ['sʌbstɪtjuːt] замена; заменитель; заменять, использовать вместо чего-л.
11. deal with - рассматривать, заниматься, иметь дело
12. affect [ə'fekt] воздействовать, влиять
13. shift [ʃɪft] изменение, перемещение, сдвиг; изменять, менять
14. input ['ɪnput] (обычно inputs) вложения, затраты, инвестиции
15. schedule ['ʃedjuːl], ['skeʤuːl] список, перечень, каталог; график, программа, план
1. What do we mean by demand?
2. What does the quantity of goods depend on?
3. When do people tend to buy less of the commodity?
4. What do we mean by supply?
5. What factors lie behind the demand relationship for an entire market?
6. The most important factor is the cost of production of the goods, isn’t it?
1. to limit, limited, unlimited, limit, limitation
2. to change, changing, changed, unchanged, change
3. to affect, affected, unaffected, affecting
IV. Translate the words paying attention to their meaning: means, to mean, by means of, by no means, by all means.
1. By supply we mean the quantity of goods that businesses willingly produce and sell.
2. Bank accounts are money because people can pay for purchases by means of cheques.
3. It is by no means cheap.
4. Try by all means to persuade him to come.
5. Compensation at certain intervals means that real wages are changing during these intervals.
6. Profit maximization is achieved by means of minimization of costs.
7. Some economists believe incomes policy to be a good temporary means of keeping inflation under control.
8. The supply schedule of a commodity means the relationship between its market price and the amount of the commodity.
9. To stay in business, firms have to reach the profit maximizing level of output by any means they find necessary.
1.The free market allows individuals to produce goods and services without any government restrictions.
2.The command economy allows little individual economic freedom since most decisions are made by the government.
3. The mixed economy lies between these two extremes.
4.In a mixed economy the government and private sector cooperate in solving economic problems.
5.The government controls production through taxation and orders for goods and services.
6. In a mixed economy the government may also be a producer of goods.
7. An example of this is the UK where there are nationalized industries such as railways and coal.