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And what is economics?
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VOCABULARY
| recession – спад
labour - труд
natural resources – природные ресурсы
activity - деятельность
society - общество
deal with – иметь дело с чем -либо
issue– вопрос, проблема
derive from – происходить от чего-либо
household management – управление
(домашним) хозяйством
to make contribution – вносить вклад
to produce – производить
enterprise– предприятие
to consume – потреблять
manufacture - производство
skill– умение
scarcity- нехватка, дефицит
opportunity cost –альтернативные
издержки, стоимость; “цена выбора”
imbalance – несоответствие
| to distribute – распределять wealthy– богатый to stagnate – находиться в состоянии застоя to go bankrupt –разоряться, становиться банкротом to face restraints – сталкиваться c ограничениями scarce resources –ограниченные, скудные (дефицитные) ресурсы to satisfy wants and needs - удовлетворять желания и потребности poverty– бедность shortage– нехватка, дефицит luxury- предмет роскоши to solve the problem – решать проблему standard of living – уровень жизни to increase – повышать goods and services – товары и услуги cause– причина to provide – обеспечивать, давать |
The economy means a system for the management, use and control of labour, land, natural resources, money, goods and other resources of a country, community or household.
Economics is a social science studying economy.
The word “economics” derives from the Greek word “oikonomika” that means household management. As a scholarly discipline, economics is two hundred years old..
In other words Economics is the study of how human beings and societies choose to use the scarce resources that nature and previous generations have provided.
Everyone goes through life having to make choices Why are there so many wants and needs that we cannot satisfy? Most people will answer these questions by saying, “Because there is not enough money”.
The real cause of the shortage of goods and services in a country is not having too little money. It is too few FACTORS OF PRODUCTION (also called resources of production).
There are four factors of production.
Land This term is used to cover all the natural resources provided by nature and includes fields and forests, oil, gas, metals and other mineral resources.
Labour This is the physical and mental efforts of people needed to make products.
Capital This is the finance, factories, machinery and tools needed for the manufacture of goods.
Enterprise This is the skill and risk-taking ability of the person who brings the other resources together to produce a good or service.
Scarcity is the imbalance between our wants and the means to satisfy those wants. The problem of scarcity is faced by rich as well as poor societies. That is why it is fundamental economic problem.
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