VI. Retell the text B using the following words and

Date: 2015-10-07; view: 561.

IV. Say whether these statements are true or false and if they are

false say why:

1. Money is both a means of exchange and a means of measuring the value of men's labour. 2. A mother's work in caring for her children is not labour because it is seldom very hard work. 3. The economist is interested in services which people provide for nothing. 4. Services which are measurable in terms of money concern the economist very much. 5. The money standard as used by economists is scientific and strictly objective. 6. Economists say that the activities of farmworkers and nurses are the same. 7. Labour in the economic sense is also concerned with the payment of higher wages to the national labour force. 8. If an employer engages an assistant, his own work can be classified as labour.

V. Answer the following questions:

1. What is money, in addition to being a means of exchange? 2. What is labour in economic theory? 3. Why is a mother's work not labour? 4. What is the economist interested in? 5. What is the economist not concerned with? 6. What common factor relates the work of the nurse and the farmworker?
7. What is labour (in the economic sense) not concerned with? 8. What term is used to describe a person engaged in his own private business? 9. What does the employer receive instead of wages? 10. What is the reward of private enterprise called?

word-combinations:

means of exchange; labour; in return; fixed payment; financial reward; to be concerned with; to produce goods and services; the national labour force; to be interested in; working population; to be engaged in; private business; to be self-employed; fixed wage; private enterprise; profit.