Comments

it must be admitted – необхідно зазначити;

valuejudgement– суб’єктивна оцінка;

ratherthan– а не;

valuejudgment – ціннісне судження.

VOCABULARY EXERCISES

Exercise 1.Read, translate into Ukrainian in written form and memorize the definitions of the following key economic terms and concepts:

1. Economist: an expert in economics.	_______________________________________________________________________
2. Economic model: any simplified statement, diagram or formula used to understand economic events	____________________________________________________________________________________________________________
3. Economics: the study of a man in his attempts to make a living by using his scarce resources.	____________________________________________________________________________________________________________
4. Macroeconomics: the branch of economics that studies behaviour and overallproductiveefficiency of the economy as a whole.	___________________________________________________________________________________________________________ ___________________________________
5. Microeconomics: the study of the individual parts of the economy, with special attention to the market price and how it works.	___________________________________ ________________________________________________________________________ ___________________________________
6. Normative economics: an econo-mic analysis that includes value judgments about what ought to be done, rather than simply developing a theory.	____________________________________________________________________________________________________________________________________________________________________________________
7. Positive economics: an economic analysis that is purely based on facts rather than opinions and studies why the economy operates as it does.	____________________________________________________________________________________________________________________________________________

Exercise 2.Give the Ukrainian equivalents for the following.

1. to develop methods for studying and explaining __________________________ ________________________________________________________________

2. in producing, distributing, exchanging, and consuming _____________________ _________________________________________________________________

3. a specificindividual _______________________________________________

4. the principal emphasis is given by microeconomists _______________________ ________________________________________________________________

5. to seek solutionsto macroeconomic problems ___________________________________________________________________________________________

6. reflected by such economic indicators ________________________________

7. to contain no indication of approval ____________________________________

8. to comprise ethical precepts __________________________________________

9. to involve ethics and values rather than facts _____________________________ ________________________________________________________________

10. most assertions are not easily classified _________________________________

Exercise 3.Find the English equivalents for the following.

1. охоплювати взаємодії членів суспільства ______________________________ _________________________________________________________________

2. лежати в основі економіки __________________________________________

3. за певного ряду умов ______________________________________________

4. рівень цін країни __________________________________________________

5. охоплювати/включати погляди, політику, особисті цінності ______________ ___________________________________________________________________

6. вирішення цих проблем ____________________________________________

7. шукати наукові пояснення щодо напрямків економічної діяльності________ _________________________________________________________________

8. на основі фактів ___________________________________________________

9. напрямки економічної політики ______________________________________

10. ці проблеми можуть розглядатися ____________________________________

11. вирішуватися за допомогою політичних рішень, а не економічною наукою ____________________________________________________________________

Exercise4.Match the verbs/verbal phrases, prepositions/adverbs and nouns/noun phrases as they occur together in the text. Translate the expressions they make into Ukrainian.

	to agree		theories and models
	to allocate	about	the level of business activity
	to trace		political decisions
	to be concerned	on	scarce resources
	to be divided	by	all the societies and nations
	to be solved		the facts and the economy
	to be solved	at	basic economic principles
	to stabilize	into	cause-and-effect relationships
	to face		higher taxes
	to look	with	two interrelated branches
	to look		what ought to be
	to be reduced		the total effect

Exercise 5.Copy out from the texts the sentences containing the following words and word-combinations and translate these sentences into Ukrainian.

1. to satisfy society’s wants _____________________________________________

________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

2. the study of individual consumers ______________________________________

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

3. cause-and-effect relationships _________________________________________

__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

4. how much total income is _____________________________________________

__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

5. deal with two worlds _______________________________________________

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

6. what is desirable ____________________________________________________

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

7. since these concepts _________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

8. to make a good policy statement _______________________________________

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Exercise 6.Find in the box the English equivalents to the words listed below. More than one is possible.

1. вивчення (4) ______________________________________________________

2. виробляти (3) _____________________________________________________

3. охоплювати (3) ____________________________________________________

4. досліджувати (4) __________________________________________________

5. з іншого боку (3) __________________________________________________

6. закон (2) _________________________________________________________

7. зосереджуватися (2)________________________________________________

8. показник (3) ______________________________________________________

9. розв’язувати (2) ___________________________________________________

10. сукупний (3) ______________________________________________________

11. твердження (2) ____________________________________________________

12. відмінність (2) ____________________________________________________

13. взаємодіяти (3) ____________________________________________________

14. взаємодія (3) ______________________________________________________

15. основний (3) ______________________________________________________

to concentrate on	to contain	to study	to relate	an indicator	a study
an investigation	to decide	to make	to examine	a statement	overall
on the other hand	total	a measure	a principle	to involve	main
interrelation	an index	an assertion	distinction	a difference	in contrast
to manufacture	to solve	to include	interaction	to interrelate	to produce
to investigate	a law	to focus on	to look into	on the contrary	aggregate
examination	principal	research	to interact	relationship	chief

Exercise 7. Find words in the text synonymous in meaning to the following. Read the sentences containing them.

word	synonym	word	synonym
progress		in general
a view		to define
different		helpful
regular		though
a subject		really
to act		base
special		incorrect
on the whole		necessary

Exercise 8.Replace the words or word combinations in bold type with their synonyms.

1. The principles of economics help solve problems in a wide variety of areas. 2. Economics helps us examine trade-offs between various goals. 3. Almost all issues of governmental policies involve economics. 4. Studying economics helps people realize the difference between statements of fact and expressions of opinion. 5. Microeconomics focuses on determining why individuals purchase one product instead of another. 6. Macroeconomics, on the other hand, looks intobehaviour and the overallproductionefficiency of the economy as a whole. 7. Macroeconomics usuallyincludes such issues as the effects of full employment on the economy, total output and general price levels. 8. Economics is the systematic study of how the decisions made by individuals, business firms and the government affect the way in which resources are distributed in society. 9. Good economic indicators show a nation’s high living standards.