Practice 2. Re-read the text to find out which of the following statements are true or false.

1. The term “economics” comes from Latin.

2. Economy as a system is studied both by microeconomics and macroeconomics.

3. Economics tries to explain how economies of different countries work.

4. In a market economy the government takes all major decisions about production and consumption.

5. Economic analysis can be used in many different spheres of our life.

6. According to microeconomics, individual markets aren’t considered as really important elements of economy.

7. Microeconomics focuses on issues influencing an economy in general.

8. When supply equals demand we can speak of the point of equilibrium.

Practice 3. The answers to the following questions can serve as the summary of the text. Answer them and give the summary of the text.

1. What does economics deal with?

2. Where does the term economics come from?

3. What does economics try to explain?

4. Where can economic analysis be applied?

5. What are the three main economic systems? How are they different?

6. What main distinctions between different spheres of economics are mentioned in the text?

7. What special branches of economics can you name?

8. What price is normally called the market price?

Practice 4. Does this text give you sufficient information about economics as a science? What other things about economics could you add to the content of the text?

Text B

The Disappearing Dollar

Consider the headline and subtitles of the text. What do you know about the issue? Read the text to find out:

- why America’s privilege of being the world’s reserve currency is at risk now;

- what makes a dollar devaluation inevitable;

- what economic consequences of America’s easy-money policy can be.

How long can it remain the world’s most important reserve currency?

The dollar has been the leading international currency for as long as most people can remember. But its dominant role can no longer be taken for granted. If America keeps on spending and borrowing at its present pace, the dollar will eventually lose its mighty status in international finance. And that would hurt: the privilege of being able to print the world’s reserve currency, a privilege which is now at risk, allows America to borrow cheaply, and thus to spend much more than it earns, on far better terms than are available to others. Imagine you could write cheques that were accepted as payment but never cashed. That is what it amounts to. If you had been granted that ability, you might take care to hang on to it. America is taking no such care, and may come to regret it.

<== попередня сторінка	\|	наступна сторінка ==>
Read the text to find out what economics deals with; complete the diagram.	\|	The cost of neglect

Не знайшли потрібну інформацію? Скористайтесь пошуком google:

Генерація сторінки за: 0.003 сек.