5
Answer the Questions
1. What is economics?
2. What do resources mean?
3. Whatkind of inputs do resources include?
4. What products do goods include?
5. What does macroeconomics mean?
6. What does microeconomics mean?
7. What is an economic policy?
8. What are the goals of economic policy?
Exercise 1 Givederivatives of these words
Economy productionemploy
Employment expansiontrade
Competitio growth export
Scarcityconsumer own
Exercise 2 Remember the examplanations of
the following words
Output
The work or product produced
Commodity
Goods sold in very large quantities,
such as metals, foodstuffs
Consumer
Individual buyer
Ensure
Guarantee, make certain
Prevent
Stop from happening
Expansion
Increase in size
Exercise 4Choose the suitable words
Economy/ economics
1.We are students of ________
2.Within a market _________, business
6
Economical/economic
1.
Our country’s __________ situation is getting better.
2.
How could the most __________ use of our time be
organized
?
Economical/ economically
1.
That engine is not the most __________
2.
Many students can spent their time __________
Economize/ economist
1.
John Keynes was the great English ____________
2.
Don’t __________ on thingswhich will hardly save
you any money
Exercise5Match the antonyms of the words in the left
Advantageunskillful
Improvementinaccessible
Avaibleoutput
Effectivedisadvantage
Advancementdeterioration
Inputunavailable
Accessiblerecession
Skillful ineffective
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