Ex.4. Match the words on the left with the definitions on the right.

Ex.3. Give three forms of the following verbs. Find the sentences with these verbs in the text.

Ex.2. Give Ukrainian equivalents of the following words and phrases.

Ex.1. Find the English equivalents in the text.

VOCABULARY FOCUS

Товари та послуги; служити інтересам людей; робоча сила, наявна в народному господарстві країни; осушені і засипані водно-болотні угіддя; загальна кількість та особливі якості; не змінюючи форму чи місце розташування; капітал зношується з часом; внесок працівників у процес виробництва; потенційні працівники отримують освіту та практику; носієм робочої сили є людина; збільшення середньої кількості робочого часу за тиждень; граничний продукт у грошовій формі; середня кількість робочих годин на рік; спад рівня народжуваності;вирішення проблеми; виробіток на одного працівника; погодинна оплата; здатність користувачів аналізувати; мінімізація витрат; підприємницькі здібності; більш ефективно використаний ресурс; вартість передачі інформації; право власності; запас інформації не зменшується.

Factors of production; an economy’s factors of production create utility; the human effort that can be applied to; raw materials, vegetation and wildlife; the expanding city; capital depreciates from time and use; productive contributions of labour; actual workers obtain new skills; the aim to create goods and services; to increase the number of people available to work; revenue for labour; marginal product of labour; the employees and unemployed; а low activity rate; to join the workforce; to raise the retirement age; an economy’s labour productivity; unemployment rate; the level of nominal wage; to expand with use; the calculus of utility maximization; vast amounts of information; selection and compression of information; other resources are used more efficiently; at the speed of light.

Can, be, have, undertake, do, mean, make, take, wear, get, grow, find, bring, learn, read, fall, rise, raise, lose, lead, think, cost, keep, leak, lend, give, sell.

factor of production a the worth of something in terms of money or other goods for which it can be exchanged
land b pay, usually of nonmanual workers, often expressed in annual terms
labour c the total satisfaction derived from the consumption of goods and services
capital d an input such as land or any natural resources, labour, capital, and entrepreneurship, combined in the production process to produce goods and services in an economy
information e payment for the work done
goods f equipment for doing something
services g a business firm
resources h accumulated wealth, especially as used in further production
salary i the human effort required to produce goods and services
value j tangible commodities or merchandise
wage k quantity of goods and services produced or provided by a business organization or economy
facilities l stock that can be drawn on
utility m the factor of production which comprises not just land itself but all natural resources. (Shoals of fish, natural forests, the atmosphere, and rivers).
enterprise n what is told, knowledge
output o tangible commodity or merchandise

Ex.5. Make up verb+noun collocations (there may be several variants).

to produce activities
to derive from the interests
to pursue food
to serve resources
to undertake goods and services
to acquire new skills
to obtain laws
to improve quantity of labour
to enforce knowledge
to increase human capital