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II. Match the equivalents.

1. to conduct transactions; a) отримувати прибуток;

2. in the most efficient manner; б) проводити ділові операції;

3. to act in one’s own best interest; в) з іншого боку, в свою чергу;

4. to stay out of the way; г) неймовірна різноманітність;

5. to make profits; д) не втручаючись;

6. the lack of significant government intervention; е) працювати для власної вигоди;

7. to adjust to changes over time; є) залишатися в бізнесі;

8. to stay in business; ж) переорієнтуватися;

9. incredible variety; з) найбільш ефективним способом;

10. to switch to; и) змінюватися з часом;

11. on the other hand; ї) відсутність значного втручання уряду;

III. Match the synonyms:

a buyer, to desire, to make profits, to take care (of), to supply, to conduct transactions, interest, considerable,

a purchaser, to allow, benefit, to get profits, variety, to manufacture, to arrange a deal, to provide (with), significant, to look after, tendency, lack, intervention, to permit, diversity, to produce, interference, trend, to wish, absence.

IV. Match the antonyms:

to sell, advantage, high prices, to spend money, to decline, flexible, to go out of business, to save money,
disadvantage, low prices, worst, to buy, credible, variety, best, uniformity, inflexible, to stay out of the way, incredible, available, to meddle with other people's business, unavailable, to stay in business, level off.

V. Match each term in Column A with its definition in Column B:

1. economic system a) an economic system that allocates scarce resources according to customs;

2. traditional economy b) an economic system in which major decision concerning the allocation of

resources are made by agencies of the government;

3. command economy c) the approach a country uses to deal with scarcity and achieve its economic goals;

4. business d) the production, distribution, and sale of goods and services for profit;

5. consumer e) the rivalry among buyers and sellers in the purchase and sale of products;

6. competition f) a person who buys and uses goods or services;

7. market g) the difference between revenues and operation costs incurred by a business;

8. profit h) place where buyers and sellers come together to conduct transactions;

VI. Define which of the following items best completes the statement:

A market exists

e) where consumers express their needs and wants.

f) when products are advertised.

g) where merchants build shops.

h) where buyers and sellers exchange goods and services.

Individuals and businesses have the greatest say about what is produced in

e) market economy.

f) traditional economy.

g) command economy.

h) all economic systems.