LISTENING

1. Listen to the lecture about different types of economies. Choose the appropriate endings of the sentences.

1) Markets are arrangements through which prices influence how we allocate …

a) resources

b) goods

c) services

2) Let’s have a quick look at a 3 kinds of….

a) economics

b) society

c) economy

3) This kind of economy is a society where the government …

a) solves problems

b) takes all the decisions

c) sets the goals

4) The government decides production and …

a) distribution

b) consumption

c) allocation

5) The state owns factories, and it also owns …

a) buildings

b) equipment

c) lands

6) In a free market individual people, as yourselves, are free pursue there own … .

a) interests

b) goals

c) targets

7) Let’s say you invent a new kind of …

a) TV set

b) mobile phone

c) car

8) The government controls a share of

a) output

b) stock

c) benefit

9) Most countries are ….

a) mixed economies

b) command economies

c) market economies

2. Listen to the lecture again and complete the following statements with the words the lecturer uses.

1) Markets are … through which prices influence how we … … .

2) Planning of this kind is obviously very difficult and … to do.

3) The state makes the most important decisions about what … should … .

4) Markets in which governments do not intervene are called … …

5) You do it without any … … or invention.

6) Between these two extremes lies the … economy.

7) It does this through … transfer payments and providing … such as police.

8) Others are … to free market economy.

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