Various Dimensions of Economics
1. Economics is the social science that analyzes the production, distribution, and goods and services. The term economics comes from the Ancient Greek oikonomia (“management of a household, administration”). Current economic models emerged from the broader field of political economy in the late 19th century. Classic economics concentrates on how the forces of supply and demand allocate scare products’ and resources. A primary stimulus for the development of modern economics was the desire to use an empirical approach more akin* to the physical sciences.
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2. Economics aims to explain how economies work and how economic agents interact. Economic analysis is applied throughout society in business, finance and government but also in crime, education, the family, health, law, politics, religion, social institutions, war and science. At the turn of the 21st century, the expanding domain of Economics in the social sciences was described as economic imperialism.
3. Common distinctions are drawn between various dimensions of economics. The primary distinction is between microeconomics, which examines the behavior of basic elements in the economy, including individual markets and agents (such as consumers and firms, buyers and sellers), and macroeconomics, which examines issues affecting an entire economy, including unemployment, inflation, economic growth, monetary and fiscal policy. Macroeconomic models and their forecasts are used by both governments and large corporations to assist in the development and evaluation of economics policy and business strategy.
VII. Answer the questions:
1. What does classic economics concentrate on?
2. When was the expanding domain of Economics in the social sciences described as economic imperialism?
3. Who uses macroeconomic models and their forecasts?
VIII. Complete the sentences (1- 9) with the words (a-i):
a) overtime b)training c)employee d) profession e) labour f) teamwork
G) inventions h) statistics i) retailers.
1. Government ………….show that crime is rising.
2. Many companies want all their employees to be good at ………….
3. Many ………….buy direct from the factory.
4. Sometimes the cost of…………..or materials is more than the agreed budget.
5. In the twentieth century …………..and new technology changed the world.
6. It's wise to think about choosing a .......... before leaving school.
7. If you're a (an).......... you have to do what your boss tells you.
8. You can earn more money by working……….
9. An apprentice is required to do several years`……… Оформите ваши ответы в данной таблице:
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IX. Match (1-9) with (a-i) to make up sentences:
| 1.The use of currency is intertwined 2.Russia attempted to convert from a centrally planned economy 3. In this new century China has emerged 4. Some observers worry about 5. Recession is bad because it means 6. With the development of farming 7. The coins were not always round, 8. The Chinese also innovated as they were the first 9. Most elderly people have left the labor force | a) to use paper currency. b) few jobs and loss of income for many. c) the impact of globalization on third- world countries. d) to a largely private enterprise economy. e) as the new player in the international economy. f) the use of grains for trade became commonplace. g) and rely on private or public pensions. h) with the history of money . i) but they often had irregular sizes and shapes. |
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Variant VI
I. Choose the correct item.
1. John … training programs.
a) is writing b) writes
2. Ireland … the presidency of the commission next year.
a) is taking b) will take
3. As banks …bankrupt, consumer spending and investment fell dramatically.
a) were going b) went
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Дата: 2019-07-24, просмотров: 507.
