II. Vocabulary exercises

1. Match the term with its definition.

1. consumer	a. the worth of something to its owner
2. advantage	b. something that puts you in a better position than other people
3. value	c. health, comfort and prosperity
4. wealth	d. a person who buys goods and services
5. prosperity	e. giving something that you own to somebody for a period of time
6. borrowing	f. the money used in a country
7. gift	g. a condition in which a person or community is doing well financially
8. currency	h. a person or organization that invests money
9. investor	i. an area, a country etc. to which goods may be sold
10. market	j. something that you give someone as a present

2. Fill in the blanks using the words and words combinations given below:

consumers, economists, exchange rate, supply, flexibility, wages

demand, essential commodities, productivity, labour

1. People think of … as being the desire for a certain economic product.

2. The demand for some products is such that … do care about changes in price when they buy more units of product.

3. The definition of the demand is given by the … .

4. On the top of our personal scale of preferences are … …. .

5. The production of goods and services is called the … .

6. In order to make the best decision … must be kept in mind.

7. The economists talk about the … in a market economy.

8. … … is the price of one currency in terms of another.

9. The major categories of … that are based on the general level of skills needed to do any kind of job.

10. At times, … are determined by the influence of organized labour.

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