IV. Complete the following sentences and translate them into Russian.

1. The activity of creation present or future utility__________________________.

2. The 3 principal means of increasing production are ______________________.

3. Concentrating efforts on a particular set of tasks_________________________.

4. The concept of specialization refers to_________________________________.

5. The concept of division of labour refers to_____________________________.

6. Specialization and the division of labour reduce/increase__________________.

7. The law of comparative advantage determines__________________________.

8. It is beneficial to specialize in_______________________________________.

9. Even developing countries can find a niche for their products______________.

V. Match the words and their definitions.

1) production a) concentration on the production

of particular things

2) equation b) quality of being useful

3) utility c) putting money into

4) specialization d) amount of output produced per unit of input

5) investment e) statement of equality between two expressions by the

sign (=)

6) utility f) goods, articles of trade

7) technology g) the quality of being useful

8) techniques h) money, property, etc. given to provide income

9) endowment i) method of doing something

10) commodities j) goods to produce other goods

11) capital goods k) application of knowledge to practical tasks in

industry

VI. Say whether the following statements are true or false.

1. Production can be represented in the forms of a figure. 2. It's difficult to describe production in the forms of a mathematic equation. 3. There are four principle means of increasing production. 4. Specialization is a drawback in the development of economics. 5. The term "division of labor" is closely related to specialization. 6. The law of comparative advantage states which goods individuals should produce.

7. Each country can find a niche for its products even a low productivity one.

VII. Answer the following questions.

1. How can production be defined? 2. What are the principle means of increasing production? Name them all. Why are they so important? 3. When does specialization occur? 4. Why is it considered to be the basis of trade? 5. What are some American states specialized on? 6. How is the concept of division of labor related to specialization? 7. What are advantages and disadvantages of specialization and the division of labor?

8. How does the law of comparative advantage work?

VIII. Two ReportsCompare the accident report form and the memo. Talk about these questions. 1. What is the difference in the content of the two? 2. What is the difference in style?

<== попередня сторінка	\|	наступна сторінка ==>
PRODUCTION	\|	ACCIDENT REPORT FORM

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