Part I. Translation from English into Russian
1. Give Russian/ Belarusian equivalents to the following terms.
1. aggregate demand
2. aggregate supply
3. allocate
4. alternative use
5. bias
6. capital
7. consumer
8. consumer goods
9. consumption
10. demand
11. economic security
12. economics
13. economy
14. entrepreneurship
15. factors of production
16. free goods
17. GDP
18. gross exports
19. gross imports
20. goods
21. government spending
22. household
23. human needs
24. inflation
25. intangible goods
26. labor
27. land
28. macroeconomics
29. means of production
30. merge
31. mesoeconomics
32. microeconomics
33. national economy
34. natural resources
35. normative economics
36. opportunity cost
37. per capita
38. positive economics
39. production
40. scarcity
41. standard of living
42. supermacroeconomics
43. supply
44. tangible goods
45. to bear losses
46. to curtail
47. to reap profits
48. total production
49. unemployment
50. want (n.)
Read texts 1-4.
3. Study the following, paying attention to the terms and their contextual usage:
a)what economics is;
B) what positive economics means;
C) what normative economics means;
D) how to define main concepts and components of economics as a science.
4. Pick out the idiomatic expressions and give their Russian/ Belarusian equivalents.
5. Pick out the abbreviations from the texts below and give their Russian/ Belarusian equivalents.
Text 1
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