2. Read the text and choose the correct answer:
1) What does economic efficiency involve?
a. Economic efficiency involves producing the minimum amount and proper combination of goods and services.
b. Economic efficiency involves equity and consumer protection.
c. Economic efficiency involves producing the maximum amount and proper combination of goods and services.
2) What does equity involve?
a. Equity involves the question of consumer sovereignty.
b. Equity involves the question of fairness, of making sure that all people get the same opportunity to obtain the goods and services.
c. Equity involves the question of competitions in the job market.
3) Which government serves as a rule maker, protector, and referee in the American economy?
a. The government of the United States serves as a rule maker, protector, and referee in the American economy.
b. The government of Ukraine serves as a rule maker, protector, and referee in the American economy.
c. The government of Russia serves as a rule maker, protector, and referee in the American economy.
4) What is a controversial topic in economics?
a. A controversial topic in economics is the question of culture.
b. A controversial topic in economics is the question of how much government involvement in the economy is appropriate.
c. A controversial topic in economics is the question of policy.
5) Why is a certain amount of government involvement necessary in any economy?
a. To collect taxes from people.
b. To satisfy unlimited wants with limited resources.
c. To ensure an orderly and equitable society.
3. Read the text again and find the word that means:
1) To get rid of something unnecessary or unwanted (p.2).
2) Help that is given by government to people with social or financial problems (p.2).
3) How well and quickly a person or machine works (p.3).
4) The capital that a company has from shares rather than from loans (p.4).
5) Laws to protect people when they have bought goods and services, covering things such as price, quality, or safety (p.2).
4.Fill in the gaps with the appropriate words:
1)Competition is essential if workers are to receive the highest possible … and if employers are to be able to hire the most qualified workers.
2) A purely competitive economy has serious … .
3) Modern production techniques often involve recycling waste products which can reduce the … of natural resources.
4) … is a produced factor of production.
5) Managers are … , though usually well-paid ones.
6) Job production is now far more common in the service industries than in … .
7) Mass consumption goods, or goods bought by many … are all made by flow production.
8) The importance of branding for the marketer lies in the process of creating … awareness.
9) The US is the only country that … global economic, military and political power.
10) Following the Maastricht treaty most member countries of the EU are moving towards common …, foreign and social policies.
5. Choose the correct form of the verb:
1) The cost of TV advertising … considerably since the beginning of last year.
a. has risen b. rose c. had risen.
2) The conference … its work before professor Belov arrived.
a. started b. has started c. had started.
3) She … for a job for six months.
a. looks b. has been looking c. is looking.
4) The delegation … by them yesterday evening.
a. was met b. met c. is met.
5) The most suitable applicants … to come for an interview this day.
a. are invited b. were invited c. have been invited.
6. Put the questions to the underlined words:
1) Tobacco use in the state fell mostly because of the rise in the cost of cigarettes. (Why … ?)
2) The Broadnet project will receive more than ₤2.4 million in funding from the European regional Development Fund. (How much … ?)
3) Commercial artists and manufacturers began using these photographs on box tops. (Where…?)
4) An aptitude for leadership is essential for a successful captain of industry. (What … ?)
5) He has been job hunting since last September. (Since when … ?)
7. Write the letter in the appropriate order, use notes in box to complete the letter:
1) 22 March, 2006.
2) Yours sincerely
3) Dear Mr. Williams.
4) Bay Plaza Hotel
40-44 Oriental Parade
5) Mr. J. Williams
31 Harbour Heights
Варіант № 5
1. Translate the marked part of the text:
(1) The question of how goods and services shall be produced is determined by competition through the price system. Basically, the least costly, most efficient method of production must be used by those businesses faced with a substantial degree of competition.
(2) In a competitive market economy, efficiency is the price of survival. Market forces are continually at work pressuring firms to find more efficient, lower cost methods of production. This is generally good for consumers because it usually means that they will pay lower prices for the goods and services they buy.
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