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Exercise 4. Read the text, do the exercises.

Читайте также:
  1. ADDITIONAL GRAMMAR EXERCISES
  2. Cumulative Review Exercises
  3. Ex 4 Pick out words and phrases from the text, and group them under the following headings.
  4. Ex.6.Make a conversation based on the text, using the questions.
  5. Exercise
  6. Exercise 1
  7. Exercise 1
  8. Exercise 1 Read the text and translate it in written form.
  9. Exercise 1 Read the text and translate it in written form.
  10. Exercise 1. Comment on the use of the Future Perfect in the following sentences. Translate the sentences into Russian.

WHAT DOES ECONOMICS STUDY?

Economics is a social science studying economy. Like the natural sciences and other social sciences, economics attempts to find laws and principles of economic functioning of society. Most students who take economics for the first time hardly can imagine the range of questions which this science studies. Some think that economics will teach them about the stock market, or what to do with their money. Others think that economics deals exclusively with problems like inflation and unemployment. In fact, it deals with all these subjects but they are parts of a much larger system.

 

Economics has deep roots in and close ties to, social philosophy. An issue of great importance to philosophers, for example, is distributional justice. Why are some people rich and others poor, and whatever the answer, is this fair? A number of nineteenth century social philosophers were trying to solve these questions and out of their speculations a separate discipline was born, namely economics. If you want to get quick idea of what economics studies, you should explore briefly the way economics is organized.

 

First of all, there are two major divisions of economics: microeconomics and macroeconomics. Microeconomics deals with the functioning of individual industries and the behaviour of individual economic decision making units: single business firms and households. Macroeconomics explores the decisions that individual businesses and consumers make. The choices of firms about what to produce and how much to charge and the choices of households about what to buy and how much of it to buy help to explain why the economy produces the things it does.

 

Another big question that microeconomics addresses is who gets the things that are produced. Wealthy households get more output then do poor households, and the forces that determine this distribution of output are outside the scope of microeconomics. Why do we have poverty? Who is poor? Why do some jobs pay more than others? Why do teachers or plumbers get paid for what they do? Think about all the things we consume in a day on the scale of a town, a whole country. Somebody decided to build the factories. Somebody decided to construct roads, build the housing, produce the cars, knit the shirts, and smoke the bacon. Why? What is going on in all those buildings? It is easy to see that understanding individual micro decisions is very important to any understanding of your society. Macroeconomics, in its turn, deals with the functioning of national economic complex and the behaviour of the main classes and social groups.




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Terms and Vocabulary | Types of Storage Tanks | Match the verbs with the corresponding nouns. | Answer the following questions. | WORDLIST | STEEL TANKS WITH FIXED ROOFS | STEEL TANKS WITH FLOATING ROOF | C) technological process | METHODS OF ERECTION OF CYLINDRICAL STEEL TANKS | APPENDIX 5 |


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