Vocabulary notes

economics экономика

unemployment rate уровень безработицы

inflation инфляция

economic growth экономический рост

monetary policy монетарная политика

fiscal policy фискальная политика

scarce ограниченный

commodity товар

output продукция

income доход

expenditure расход

interest rate процентная ставка

Tasks

I. Match the words from the text and their corresponding definitions.

1) commodity a) diagram consisting of a line or lines showing

the variation of two quantities

2) economy b) rise in prices brought about by the expansion

of the supply of money, credit, etc.

3) income c) plan of actions, statement of aims and ideals

4) graph d) money received during a given period

5) policy e) a system for the management, use and control

of the money, goods and other resources of a

country, community or household

6) expenditure f) lack of jobs

7) inflation g) useful thing, esp. an article of trade

8) output h) amount spent

9) unemployment i) amount which a firm (machine, person) produces

II. Complete the gaps with the words from the box.

economy, economics, economic, economical, economically, economists

1. Marx and Keynes are two famous ………………………..

2. Those people are studying the science of …………………..

3. We sometimes call a person’s work his ……………….. activity.

4. People should be very ……………… with the money they earn.

5. The ……………….. system of a country is usually called the national ………………..

6. The people in that town live very …………………………...

III. Translate the following words and word combinations from the text.

to become aware of smth, job prospects, economic growth, price indexes, to recognize the importance, major economic events, a scholarly discipline, to make contribution, financial security, capitalist enterprises, to tame ravages, fundamental insights, to produce valuable commodities, mankind, a notable economist, to accomplish unlimited ends, to achieve goals.