Complete each sentence with a word or phrase from the box benefits

1.Complete each sentence with a word or phrase from the box.

■ agriculture
■
ban
■
efficiently
■
free
enterprise ■
manufacturers

■monopoly
■
private
sector ■
profit
motivation ■
public transport ■
state
sector ■
telecommunications ■
trade

1
…………………..is
when businesses are able to trade without control from the
government.

2…………………..industries
belong to and are run by the government.

3…………………..industries
belong to and are run by independent businesses.

4
Buses, trains and planes are examples of………………..

5…………………..is
another word for farming.

6………………….produce
new goods from raw materials.

7
When a business works………………….., it runs successfully
without wasting resources.

8Telephone
and Internet systems are part of the ………………industry.

9……………..is
what drives businesses in the market economy.

10
When the government puts a…………………..on rommodity, people
are not allowed to buy or own it.

11
If only one company controls part of the economy, the have a
……………………

12
When companies………………….., they do business with each
other.

2.Now
read the text again and answer the questions.

1
What
do most economists believe about economies in the world today?

A
There
are a number of free markets.

B
Some
countries have a completely planned economy.

C
A
mixed economy exists in some way in all countries.

2
Why
do governments choose to run
some
industries?

A
So
they can collect taxes.

B
Because
they need to
be protected from the risks of the free market.

C
To
encourage a divided economy.

3
Why
do governments deregulate some industries?

A
To
make the industries more efficient.

B
To
protect them.

C
Because
there is too much competition,

4
According
to the text, what is not very popular with the
public?

A
Deregulation
of public transport.

B
Deregulation
of hospitals and schools.

C
Deregulation
of telecommunications and banking.

5
What
type of state control is not
mentioned
in
paragraph
5?

A
Controlling
the way companies do business.

B
Controlling
what companies sell.

C
Controlling
the prices companies set.

Text 5.
Welfare
economics

Behind
the numbers, charts and formulas of economies, there are people. This
is sometimes easy to
forget.
Economies isn’t only about profits, losses and utility. It’s
about society. Economic ideas and theories often seem to be issues
that are far removed from people’s everyday lives. Welfare
economics, however, tries to correct this. It looks at how economic
policies affect society, families and the individual.

One
of the big issues in welfare economics is equity.
Equity
means fairness, and welfare
economists
are interested in measuring how fair our economic systems are. One
way they do this is to look at how income and wealth are distributed
among the population. Welfare economists also investigate the effects
of government policy on equity.

Governments’
main weapon to fight inequity (unfairness) is taxation. Welfare
economists try to find out how taxation affects vertical
equity and
horizontal
equity,
which are two ideas that taxation systems can be based on. The idea
behind vertical equity is that people with more income will pay more
than those with less income. The idea behind horizontal equity is
that people with the same income will pay the same amount of tax.
Ideally, a tax system will have both vertical and horizontal equity.

However,
some economists feel that any kind of taxation on people’s earnings
is unjust. They believe it is unfair to peciali entrepreneurs and
hard-workers. Why should people who are less able or less
hard-working be supported by others? In this view of welfare
economies, inequity is a natural feature of every economic system.
Trying to create equity, they say, is just a waste of time. Instead,
it is better to make economic systems more efficient. A more
efficient economy grows faster and everyone in society benefits.

Welfare
economics isn’t only about the fairness of economic systems. It’s
also about the impact that economic choices have on our lives.
Economic transactions often affect other people who are not directly
involved in those transactions. Economists call these results
externalities.
Externalities
are sometimes good and sometimes bad for society. For example,
pollution is a negative
externality of
the car industry. But cars give people better mobility, which is a
positive
externality of
the same industry.

Production
is not the only cause of negative externalities for society. Many are
due to our use or consumption of goods. People’s litter in parks
and on beaches is one example; noisy neighbours playing their CD
player loudly is another. These are both examples of externalities
causing pollution. However, health problems from smoking and drinking
alcohol are also externalities from economic transactions. These have
a cost for individuals, but also for society as a whole.

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Другие языки

Complete each sentence with a word or phrase from the box.

■ balance ■ compensation ■complex ■ influences ■ leisure ■ play a / an ■ rate ■ role ■ skills ■ substitution ■ switch off 1At the weekend everyone needs to relax and .

From school or work.

2Employers.

Important .

In the economy.

3. is what you receive if you are badly affected by something.

4. means replacing one thing with another.

5Most people’s.

Time is at the weekend and in the evenings.

6 It can be difficult to get the right.

Between work and free time.

7 The money you can earn.

People’s choice of job.

8 Some economic problems are very.

There is no easy solution.

9 The hourly.

For this job is seven pounds an hour.

10 The ability to speak foreign languages is one of the.

Needed for this job.