Ex 5. Answer the questions and do the assignments.

Date: 2015-10-07; view: 477.

Ex 4. Match each term with the appropriate expression.

recession, expansion, mass production, free enterprise, agriculture, manufacturing, commerce

1. Growing large, wider; increasing in size and scale.

2. The exchange of goods and services for money or for other goods and services by way of trade and all the various business operations that make such exchange possible.

3. A temporary reduction in business activity.

4. Organized and rapid production of very large quantities of a standard article or commodity.

5. The systematic making of goods from raw materials. Originally it implied the making of something by hand, but now includes making by machinery.

6. The skilled work of cultivating the soil for crops, bringing up animals, planting trees, managing forests, and fishing.

7. An economic system in which private person are free to own capital and to organize their businesses.

1. What are the major stages of the US economy history?

2. How is the economy of colonial America characterized? What boosted the local economy at that time?

3. What is implied in the idea of individual entrepreneurship?

4. How did the departure of British investment influence the American economy?

5. Speak of the two points of view on the development of the US economy. Which one proved the more effective?

6. Why was the development of transport critical for the US economy?

7. What is the role of individual business enterprise in the United States economy?

8. What is the Great Depression? How was it to overcome?

9. What are the characteristic features of the US economy of the Modern Era?

10. How did the recent economic crisis affect the country?