Unite 3 Basic Economic Terms

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Контрольная работа по дисциплине «Иностранный язык профессионально-коммуникативный» Unite 3 – Basic Economic Terms 1. 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 3. 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