Open the brackets using proper grammar tense

Grammar exercises

Answer the questions.

1. What is demand?

2. What is supply?

3. When are the demanded and supplied quantities of goods high?

4. How are prices and the supplied and demanded quantities regulated by the market?

5. Which factors influence demand? How do they work?

6. Which factors influence supply?

7. How can governments regulate demand and supply

Communism is a political and economic doctrine which (to say) that everything must belong to the state and the government is to organize all the production. Karl Marx (to formulate) his idea of communism as "from each according to his ability, to each according to his needs". Command economy where strategic decisions (to make) by government and (not to regulate) by the price system (to rely) on the communist doctrine. China still (to organize) its economy along communist lines but Russia and other former (бывший) Soviet Union's countries and East-European countries recently (to move away) to more market-based economies

2. Translate the sentences into Russian paying attention to the participles:

1. In East-European countries consumers couldn't get goods, and factories couldn't buy inputs at prices held low by governments.

2. Governments intervene in economies controlling the supply of money, limiting monopolies and helping private industries.

3. An improvement in technology will increase the supply of a good, increasing the quantity supplied at each possible price.

4. Governments regulate economic activities imposing some restrictions.

5. The governments can influence for whom goods are produced, taking income away from some people and giving it to others.

6. The high price for a good is the market mechanism telling suppliers it is now time to increase production.

7. The developing countries hope that the industrial countries will raise imports from the less developed countries imposing tariffs on imports from other industrial countries.

8. Income is money of all kinds coming in regularly to a person, family or organization.

9. Active money is money going from man to man and used by the people in buying and selling goods and services.

10. 10. Reducing our imports, we decrease the exports of others.

11. 11. At prices above equilibrium we have a situation known as excess sup

12. 12. At prices above equilibrium we have a situation known as excess supply, or surplus

3. Change the underlined sentences into participial constructions.

ОБРАЗЕЦ 1: Resources can be a serious factor that limits production. - Resources can be a serious factor limiting production.

1. Firms that produce computers act as buyers in the markets for the services of computer programmers.

2. A nation's income is the sum of the incomes of all the people who live in that country.

3. There are several factors that determine a consumer's demand.

4. Individuals, families and governments that consume goods and services are called consumers in economics.

ОБРАЗЕЦ 2: Consumers typically buy a smaller quantity of the good that is sold at a higher price. -Consumers typically buy a smaller quantity of the good sold at a higher price.

1. Supply restrictions that are imposed by cartels are as characteristic of industrialized economies as of developing economies.

2. Excess supply is a situation in which the quantity of a good that is demanded by buyers is less than the quantity that is supplied bv producers.

3. Society increasing the quantity of one good that is produced at one time typically reduces the quantity of another good that is produced at the same time.

4. Some of the inputs that an individual uses are food, chairs and tables, but another input of great importance is time. The consumer's time is limited, and this time limitation as well as his or her limited income influence the decisions that are made in dav-to-dav life.

ОБРАЗЕЦ 3: When societies act through their governments, they can make decisions on allocation of scarce resources. - Acting through their governments, societies can make decisions on allocation of scarce resources.

1. When we put demand and supply together, we can determine equilibrium prices and quantities in different markets.

2. When it increases the quantity of one good produced at one time, the society reduces the produced quantity of another good as its resources are scarce.

3. When people consume goods and services, they provide a basis for further production.

4. As they make up a major portion of the national income. US high technology industries dominate and influence almost all other industries in the country.

Дата добавления: 2017-01-14