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Modern Market Economies
1. Markets play a key role in coordinating the choices of individuals with the decisions of business. In modern market economies goods and services are supplied by both business and government. Hence we call them mixed economies. Some products or services are available to those who wish to buy them and have the necessary income – as in cases like coffee and wireless services. Other services are provided to all people through government programs like law enforcement and health care. In a mixed economy goods and services are supplied both by private suppliers and government. Markets offer the choice of a wide range of goods and
services at various prices. Individuals can use their incomes to decide the pattern of expenditures and the bundle of goods and services they prefer. Businesses sell goods and services in the expectation that the market price will cover costs and yield a profit.
2. The market also allows for specialization and separation between production and use. Rather than each individual growing her own food, for example, she can sell her time or labour to employers in return for income. That income can then support her desired purchases. If businesses can produce food more cheaply than individuals the individual obviously gains from using the market – by both having the food to consume, and additional income with which to buy other goods and services.
3. Much of microeconomics and macroeconomics focuses upon the role of government: how it manages the economy through fiscal and monetary policy, how it redistributes through the tax-transfer system, how it supplies information to buyers and sets safety standards for products.
VII. Answer the questions:
1. Why do the businesses sell goods and services?
2. What does the market allow?
3. What do microeconomics and macroeconomics focus upon?
VIII. Complete the sentences (1- 9) with the words (a-i):
a) population b) wealth c) membership d) recessions e) certificate
F) accommodation g) stockholders h) directors i) identity.
1. …….… can include money in bank accounts or in pension schemes.
2. Most governments aim to avoid ………….
3. Australia has its own cultural………...
4. He lost his ………. in the shuffle of papers.
5. She holds ……….in a number of regional organizations .
6. There's a shortage of cheap………..
7. A public company must have at least two ……..…
8. The ……...… elect a director or directors to operate the corporation.
9. The highest density of ………… is in the cities. Оформите ваши ответы в данной таблице:
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
IX. Match (1-9) with (a-i) to make up sentences:
| 1. In the past 100 years, economic growth has been a major factor 2. Consumer nondurable goods are purchased 3. All over the world, the rich continue to get richer 4. Environmental degradation can have a huge impact 5. The demand for some goods increases, 6. As incomes rise, people increase 7. In general, the greater the population, 8. A change in the price of a good or service causes a change in the quantity demanded. 9. Some companies become monopolies through vertical integration. | a) on poverty rates and the well-being of people. b) through vertical integration. c) for immediate or almost immediate consumption. d) in reducing the levels of poverty. e) while the demand for others decreases. f) the greater the demand. g) their consumption of many goods and services. h) a change in the quantity demanded. i) and the poor continue to get poorer. |
Оформите ваши ответы в данной таблице:
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
Variant VIII
I. Choose the correct item.
1. Apple … a new product in June.
a) is bringing out b) brings out
2. At Citibank we … you total control of your finances worldwide.
a) give b) are giving
3. The owner ... some of his money into new businesses.
a) invested b) has invested Оформите ваши ответы в данной таблице:
| 1 | 2 | 3 |
Дата: 2019-07-24, просмотров: 448.