- •Econom-
- •Which word?
- •Economics vs. Economy
- •The economy depends about as much on economists as the weather does on weather forecasters.
- •Economics
- •Vocabulary Notes:
- •Which word?
- •Economic vs. Economical
- •“The economy depends about as much on economists as the weather does on weather forecasters.”
- •“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” (Will Smith)
- •Lesson 2
- •Which word?
- •Economic goods vs. Economy goods
- •Vocabulary Notes:
- •Which word?
- •Increase, growth or rise?
- •Economy
- •Vocabulary Notes:
- •Lesson 1
- •Which word?
- •Trade / business / industry
- •Which word?
- •Supplier or distributor?
- •Task 12. A) Define the meaning of the word “трейдер” in Ukrainian. Let the following headlines from Ukrainian mass media be your clues.
- •What is Trade?
- •Vocabulary Notes:
- •Lesson 2
- •Trade or Commerce?
- •Vocabulary and Cultural Notes:
- •Which word?
- •Verb or noun?
- •Vocabulary building Bimonthly / biweekly biyearly etc.
- •Forms of Trade
- •Vocabulaty Notes:
- •Lesson 3
- •Which word?
- •Trade vs. Trades
- •International Trade
- •Vocabulary and Cultural Notes:
- •Lesson 4
- •Modern Patterns of International Trade
- •Vocabulary and Cultural Notes:
Which word?
Economic goods vs. Economy goods
ECONOMIC GOODS |
ECONOMY GOODS |
Services or physical objects that can command a price in the market; anything that people want and are willing to pay a price for, rather than something that is available freely. Економічний товар; економічні блага. |
Goods that are cheaper than normal goods usually because you are buying larger quantities. Дешеві товари. |
Task 6. a) Make up words using the productive word-building flexions (Table A) and the stems (Table B).
Table A
re- |
-ment |
-th |
-ity |
-tion |
-sion |
-ness |
-ship |
Table B
1. able; |
7. depress; |
13. advance; |
2. hard; |
8. oppress; |
14. develop; |
3. grow; |
9. prosper; |
15. stagnate; |
4. stable; |
10. achieve; |
16. backward; |
5. recess; |
11. difficult; |
17. transform; |
6. strong; |
12. novation; |
18. construction; |
b) Learn some other word-building patterns.
To take off |
→ |
take-off |
(злетіти; швидко піднятися – про фондову кон’юнктуру або курс цінних паперів); |
(швидкий підйом; швидке зростання); |
|
to swing up |
→ |
upswing |
(коливатися вгору); |
(підвищення економічної кон’юнктури); |
|
to turn up |
→ |
upturn |
(піднімати(ся) вгору); |
(підвищення; зростання (економіки, благополуччя, цін і т.п.); поліпшення (умов); початок економічного підйому); |
|
to turn down |
→ |
downturn |
(збавляти, зменшувати); |
(економічний спад; спад ділової активності; зниження, зменшення). |
Task 7. Match items in column A with their antonyms in column B.
A |
B |
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Task 8. Open the brackets using the right word.
The Great Depression was a worldwide economic (downturn / upswing) starting in most places in 1929 and ending at different times in the 1930s or early 1940s for different countries.
The economic crisis of 1929-1933 was the largest and most severe economic (boom / depression) in the 20th century.
The Great Depression originated in the United States; historians most often attribute the start to the stock market (crash / take-off) of October 29, 1929, known as Black Tuesday.
The (development / depression) had devastating effects in virtually every country, rich and poor.
In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many (recessions / advancements) coincided with these panics.
The late-2000s (development / recession) has changed to a sharp drop in international trade, rising unemployment and slumping commodity prices.
The United States is in an economic (strength / crisis) that may already be the worst since the Great Depression.
One thing seems clear: the recent period of unparalleled economic (growth / oppression) and prosperity has come to an abrupt end in most of the world.
Task 9. a) What happens to an economy? Distribute the following word combinations into three groups according to their meaning:
Positive state of the economy – growth and progress;
Negative state of the economy – crisis and stagnation;
Recovery of the economy after a period of stagnation.
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20. economic progress [`prəugres] / [`prα:gres] |
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21. economic recovery [rı`kAvəri] |
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22. economic recession [rı`se∫ən] |
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23. economic downturn [`dauntə:n] |
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24. economic successes |
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25. economic stagnation |
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26. economic prosperity |
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27. economic difficulties |
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28. economic renovation |
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29. economic depression |
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30. economic oppression |
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31. economic renaissance [rı`neısənts] / |
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[ֽrenə`sα:nts] |
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32. economic development |
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33. economic advancement |
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34. economic achievements |
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35. economic backwardness |
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36. economic reconstruction |
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37. economic transformations |
b) Match the terms in column A with the respective Ukrainian equivalents in column B.
A |
B |
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Task 10. Characterize the current state of Ukraine’s economy using appropriate terms from Task 9. Give your reasons.
Task 11. Read and translate the passage.
An economic indicator (or business indicator) is a statistic about the economy. Economic indicators allow analysis of economic performance and predictions of future performance.
Economic indicators include various indices, earnings reports, and economic summaries, such as unemployment, housing starts, Consumer Price Index (a measure for inflation), industrial production, bankruptcies, Gross Domestic Product, retail sales, stock market prices, and money supply changes. Economic indicators are primarily studied in a branch of macroeconomics called “business cycles”.
An economic boom occurs when real GDP grows faster than the trend rate of economic growth (in the UK, the trend rate is around 2.5% per year).