Task XII. 1) Differentiate the kinds of economics systems.

Task X. Rewrite the sentences in Passive

Task IX. Use the forms Active and Passive Voice

Simple Active

Present V, Vs

Economic forces affect decisions in the world of business.

Past Ved (II)

The development of modern economics began in the 17-th century.

Future Will+V

The bank will pay you interests for the use of your money.

Simple Passive

Present to be + Ved(III(

The decisions are effected by economic forces in the world of business.

Past was, were + Ved(III)

The development of modern economics was begun in the 17-th century.

Future will be + Ved (III)

You will be paid interests by the bank for the use of your money.

1. We define economics as the social science that describes and analyzes choices from among scarce resources to satisfy its wants.

2. He usually borrows money, from the bank.

3. Economics used the term “land” when they spoke of natural resources as a factor of production

4. They will put a lot of effort into the creation of goods and services.

5. Our last year wages represented our income.

6. People create capital to produce goods and services.

7. How much interest will the bank pay for the use of my money?

**Task XI. Complete the sentences:

1. We can define economics as the social science that describes and analyzes choices…

2. Macroeconomics is…

3. Microeconomics is…

4. The factors of production include…

5. Rent becomes income to…

6. Wages represent income to…

7. A factory, tools and machines are..

8. … is called interest.

Economic Systems

Traditional Command Market

Resources are distributed

In accordance with tradition By government planners. In accordance with the laws of supply and demand

** 2) Give the examples of economic systems.

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