Read for More Information

Ex. 3D. a) Read the text aloud.

2. Look up the words you do not know in the dictionary.

3. Transcribe and pronounce correctly the following words:

economics, economy, economic, economical, monopoly, competition, competitive, society, productivity, to export, to import, social, production, substitution, political, wealth, nation, industrialism.

d) Write out:

- from sentence 1, para 1 the group of words related to the word science;

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Unit 1

1. First Challenges and Accomplishments

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• prevalent adj - распространенный cope with v— справляться с чём-л.

  from sentence 1, para 5 the group of words related to the word ranged;

• the subject and the predicate in the last sentence, para 7. e) Sum up what you km™ about Adam Smith and his investigations.

Economics and Its Great Man

1. Economics is a social science concerned with how mankind organises itself to accommodate scarce resources to their wants through the process of production, substitution and exchange.

2. By the beginning of the eighteenth century economics had taken shape as an academic discipline, largely as a branch of political economy, it should be rioted that the old name for economics was "political economy". Adam Smith was the founding father of modern economics as an academic discipline.

3. Adam Smith was born in 1723. For most of his life he was a professor of philosophy in Glasgow, Scotland. His first and only economics book, The Wealth of Nations, was not published until 1776, when he was 53.

4. Smith's purpose was to explain why some nations become wealthier than others. He was fascinated by the rise of industrialism in the England and Scotland of his time.

5. Over his lifetime Adam Smith's economic investigations ranged from the theory of trade to economic growth and an attempt to model the working of the economy. He believed that a free market would maximise the welfare of the population. It followed from his works that the role of government in the economy should be minimal. The government should provide defence, justice and public works. The only market intervention should be to prevent monop­ oly and to promote competition.

6. Smith argued that competitive business was not just a possible way but the best way to increase the wealth of a nation. He thought government re­ straints on competition did more harm than good,

7. Division of labour was seen by him as the source of society's capacity to increase its productivity. According to Adam Smith technical progress and free trade between nations were central to economic growth. Ifa country wished to improve its standard of living it had to export more than it imported.

Grammar Revision Модальные глаголы (Modal Verbs)

Ex. 31. a) Read and tell the text.

b) Explain the functions uf the modal verbs in the text.

c) Are the problems mentioned in the text common for Russia today?

The problems American teenagers face-daily reflect problems in American society: drugs, guns, violence, poverty and depression. However, there are a few problems, which are prevalent mainly among America's youth. Underage drink­ing (drinking alcohol under the age of 21), gang membership, and the lack of a voice in today's society arc among the many issues teenagers must deal with. Not all American teenagers can cope with the problems because not all Ameri­can families can afford to have good clothing, adequate food, and housing.

So, some American children are raised in poverty. Many of these children find other means of supporting themselves ortheir families. Very often poor or underprivileged children have to sell drugs or join gangs. Gangs, violence, and drugs are issues which go hand in hand, In other words, where one finds a gang, one is most likely to also find drugs, guns and violence. As a result many young girls and boys are murdered in shootings and gang wars. While these problems are serious for poor teenagers middle class and wealthy American teenagers may also face the same problems like drugs, underage drinking and smoking. Drugs are destroying minds, family and friend relationships, and arc killing America's youth.

If in the past schools and colleges were able to ensure discipline, in the past few years violence in schools and colleges has become an increasing prob­lem. Occasions when American students have shot and killed their classmates no longer sound unfamiliar.

Yet another problem of American youth is connected with cars. Because teenagers can drive at the age of 14 and because many are careless or perhaps drunk drivers, the number of deaths behind the wheel may continue to grow.