What are “The Three Sectors of the Economy”? Match the following questions and answers;
12 Контрольная работа по дисциплине «Иностранный язык профессионально-коммуникативный» Unite 3 – Basic Economic Terms Study the following vocabulary before reading. aggregate demand совокупный доход chargeable taxes взимаемые налоги collect taxes взимать налоги direct taxes прямые налоги econometrics экономика equilibrium равновесие exact a tax взыскать налог externalities внешние factors of production факторы производства fixed tax фиксированный налог gross national product (GNP) валовой национальный продукт impose a tax вводить налог income tax подоходный налог indirect tax косвенный налог macroeconomics макроэкономика microeconomics микроэкономика pay taxes платить налоги progressive tax прогрессивный налог special tax специальный налог surtax дополнительный налог taxable object объект налога taxpayer субъект налога tax declaration налоговая декларация tax laws налоговое законодательство turnover tax налог с оборота Reading 2. Read the sentences “Basic Economic Terms”. 1. Factors of production (or inputs) are resources used by firms in their production process, namely land and the natural resources in it, labor, capital, and (in recent definitions) information. 2. Externalities (or spillovers) are costs imposed on others without their receiving compensation, or benefits received by others without their paying the proper costs. 3. Microeconomics concerns the economic factors affecting individual consumers and companies. 4. Equilibrium is a state of balance, for example, when supply meets demand. 5. Econometrics is the application of mathematical and statistical models to economic theories and problems. 6. Macroeconomics is the study and analysis of the economy as a whole. 7. Aggregate demand is the total amount spent in a country by consumers, companies, and the government. 8. Gross national product (GNP) is the total wealth earned or created in a country in a year. 9. Endogenous means coming from or controlled from within, e.g. variables that are totally under the control of a company, a government, etc. 10. Exogenous means coming from or controlled from or without; uncontrollable variables. Language development
Which twelve terms in the box are defined in the sentences below?
aggregate supply balance of payments capital cost of living economic economical economize economy fiscal free enterprise fluctuate inflation inputs market monetarism protectionism scarcity standard of living 1……………………….. Adjective meaning of or relating to an economy or economics.
2………………………... Adjective meaning related to public (i.e. government) finances (taxation, expenditure, etc.).
3………………………... Adjective meaning using a minimum of resources; or cheap.
4……………………….. A rise in the general level of prices, and an increase in the money supply.
5……………………….. A shortage of sometimes; insufficient supply to meet demand.
6…………………….…. The accumulated stock of goods used for the production of further goods (and the money required to purchase them)
7……………………….. A measure of the amount of money that has to be paid for essentials such as food, accommodation, heating, clothing, etc.
8……………………….. A measure of the amount of disposable income that people have to spend on both necessities and luxuries. 9……………………….. The difference between what a country pays for its imports and receives for its exports.
10……………………… The practice of restricting imports in order to increase the sales of domestic products .
11……………………… To change constantly, to show irregular variation.
12……………………… To save money, to reduce an amount normally used.
Here are the words and phrases you need to talk about trends using graphs. Make sure you can translate these “Describing Graphs” into your own language. UP - verbs go up take off shoot up soar jump increase rise grow improve rocket
UP – nouns an increase a rise a growth an improvement an upturn a surge an upsurge an upward trend
DOWN – verbs go /come down fall fall off drop slump decline decrease slip plummet shrink
DOWN – nouns a fall a decrease a decline a drop a downturn a downward trend
NO CHANGE – verbs remain stable level off stay at same level remain constant stagnate stabilize
AT THE TOP – verbs reach a peak peak top out
AT THE BOTTOM – verbs reach a low point bottom out recover DEGREES OF CHANGE Adjectives: dramatic, considerable, sharp, significant, substantial, moderate, slightly; Adverbs: dramatically, considerably, sharply, significantly, substantially, moderately, slightly;
SPEED OF CHANGE abrupt sudden rapid quick steady gradual slow
PREPOSITIONS a rise from ₤1m to ₤2m to increase by 50% to fall by 30% an increase of 7.5 per cent over last year
What are “The Three Sectors of the Economy”? Match the following questions and answers; 1. What do we mean by the primary sector of the economy? 2. What happens to the food extracted in the primary? 3. So what’s the secondary sector? 4. How do people in the secondary sector make things? 5. And the tertiary sector? 6. Why is the number of people working in the primary sector regularly declining? 7. And why is the secondary sector getting smaller in many of these countries? 8. But not tertiary services?
a. Because agricultural methods are always becoming more efficient. Western Europe and the USA already produce too much food with only 3% of the population working on the land. b. Because much manufacturing can be carried out more cheaply in low-wage economies, for example in East and South-East Asian countries like China, Hong Kong, Taiwan, South Korea, Malaya and Vietnam. c. Agriculture and the extraction of raw materials from the earth or the sea. d. It includes the commercial services that enable industry to produce and distribute goods to their final consumes (trade, banking, warehousing, transport, communications, and so on) , as well as activities like education, heals care and tourism. e. It involves the transformation of raw materials into finished products. f. Not if the activities require a lot of training, education, know-how and technology. g. Only some of them. Manufacturing companies also employ finance and marketing managers, administrative staff, maintenance staff, and so on. h. Some of it, such as fresh fruit or fish, is consumed almost immediately after extraction; the rest serves as raw material for the secondary sector.
Grammar
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