Do you know these words?

10.Read and translate the words having one and the same stem; underline thesuffixes of nouns:

11.Translate the words and write those from which they are formed:

Economist, interpreter, teacher, founder, physician, ecologist, historian, speaker, writer, physicist, officer, mathematician.

12.Answer these questions:

1) When and where was Adam Smith born? 2) Who was his father? 3) What was Adam Smith's first academic appointment? 4) Did he become a tutor then? 5) How big was the grant he received some time later? 6) What work did dam Smith do with the support of the grant?

Repeat what the text said about Adam Smith.

Read the following conversation and act it out

Once at an informal party two post-graduates (A and B) who had not met for rather a long time, were speaking about their university mates and friends:

A:Fred is remarkable! There isn't much he doesn't know.

В:Т think it's his natural curiosity. He wants to know everything. He doesn't just scratch the surface, either. He really gets to the bottom of things.

A:Do you know what he explained to me today? The ins and outs of the stock market. He knows all about Wall Street – all these stocks, shares, stock exchange quota­tions and what not.

B:Is he a stockbroker?

A:If I'm not mistaken, he is.

B:I have to confess something. I didn't think much of Fred at first.

A: Iunderstand. He's very quiet. He doesn't make a good first impression. But he grows on you after a while.

B:He's a far cry from his brother. Pete talks all the time and doesn't say anything, either.

A: There are too many Petes in the world. And not enough Freds.

Do you know these words?

Translate into Russian.

1. The prices had decreased by that time. 2. They did not increase sales because the production had dropped by 1 per cent. 3. We managed to maintain the demand as we had studied the mar­ket thoroughly. 4. The revenue grew as the exports had increased significantly. I wanted to read this journal. I had never read an American jour­nal or magazine. 5. I planned to visit this town last June. I had never been there before.

Read the following text and try to understand it.

The economy

The words the economy are words we hear or read almost every day. For example, we may be told that the world economy is 'in the dol­drums', or 'the European economy is making little progress out of reces­sion', or 'the UK economy is beginning to recover', or 'the Scottish economy has held up relatively well during the recent recession'.

But what is meant by the economy? What is an economy? What happens in one? How does an economy work?

The economy is a social mechanism which answers these three questions. The economy means a system for the management, use and control of the money, goods and other resources of a country, community or household.

17.Read and translate the titles speaking about:

1) the world economy, 2) the European economy, 3) the UK economy, 4) the Scottish economy

18. Answer these questions:

1) What is meant by the economy! 2) What is an economy? 3) What happens in an economy? 4) How does an economy work?

19. Complete the sentences by using the words from the text:

The economy is a social... which answers these three questions. The economy means a system for the ... of the money, goods and other resources of... .

Translate the definition of the term the economy given at the end of the text.

This test will help you estimate your target orientations of earning a capital.

TEST

A Potential Millionaire

One of the wealthiest people of the world is the sultan of Brunei. He is the owner of almost 14 billion dollars. The richest Australian is publisher Carl Cahage. He owns almost 2 billion dollars. Of course, the sultan did not earn this money himself. The main part of it was inherited by him and earned by his subjects. Just the other way round, Cahage made his fortune himself. Probably you will be one of the next generation of wealth-holders and millionaires in the future.