Ex.7. Choose the appropriate word or phrase to complete the following sentences.

Date: 2015-10-07; view: 476.

Ex.6. Fill in the gaps in the following verb collocations with appropriate prepositions or adverbs.

To deal ____ the same economic problems; to do something ____ a unique way; to utilize market mechanisms ____ a very limited extent; to turn resources ____ goods and services; to result ____ the greatest efficiency; to be compatible ____ individual freedom; to produce goods and services ____ sale; to search ____ the lowest price ____ a given product; to benefit ____ the efficient use of resources; to direct production ____ goods and services people want to get; to produce goods and services ____ the lowest economic cost; to bring buyers and sellers ____ ; to conflict ____ individual freedom.

Households, most compatible, labour, surplus, borrow and save, purchase, bring together, in a unique way, economic incentives, shortage, competition, to a very limited extent, define and enforce, businesses

1. Each economic system deals with What? How? and For whom? problems ____.

2. In some countries, market mechanisms are utilized ________ .

3. Free enterprise systems are ________ with individual freedom and political democracy.

4. In the free enterprise system ________ help people answer What? How? and For whom? questions in the most beneficial way, e.g. low prices for goods or services for consumers and high profit for producers.

5. ________ , one of the components of the free enterprise system, own most of the country's economic resources and with their wages and salaries ________ two-thirds of all the country's production.

6. One of the resources that households have is their ________ , which they can sell to businesses.

7. Another component of the free enterprise system, ________ , performs the role of organizers.

8. Markets act as agents which ________ buyers and sellers ________ .

9. Financial markets are used by both households and businesses that want to ________ money.

10. The main role of government in the free enterprise system is to ________ the rules of society.

11. The situation when there are more goods than demanded is called ________ . When the opposite occurs, it is called ________ .

12. Another economic incentive in the free enterprise system is ________ , which stimulates businesses to make the most efficient decisions.