5AB

1. 5AB

2. Nouns: persons (the summiteers, the economist, Mr. Bean), places (Germany, Japan, the United States) or things (stockmarket, currencies, government entities). • Adjectives: large firms, higherstandards of living, a non-profitorganization • Verb s: an action (boycott), an event (happen) or a state (be).

4. Syntax: The way that words are put together to form sentences in a language. Morphology: The forms of words. Co-text: The words that come just before or after a word, phrase or statement • and help the reader to understand its meaning. • Economics, like most of the social sciences, is still in a somewhat rudimentary state. There is little agreement among economists over general principles, and even less agreement concerning economic policy. Yeta limited knowledge of economics, even if it is somewhat vague and inexact, can be useful in everyday life, especially in regards to making business and investment decisions. The trouble is, given all the dissension within the discipline of economics, how is the layman supposed to distinguish between soundtheories and unsound theories? Dictionary

5. Economics, like most of the social sciences, is still in a somewhat rudimentary state. There is little agreement among economists over general principles, and even less agreement concerning economic policy. Yeta limited knowledge of economics, even if it is somewhat vague and inexact, can be useful in everyday life, especially in regards to making business and investment decisions. The trouble is, given all the dissension within the discipline of economics, how is the layman supposed to distinguish between sound theories and unsound theories? Economics is the social science that studies the production, distribution, and consumption of goods and services. The science which studies human behavior as a relationship between endsand scarce means which have alternative uses (scarcity means that available resources are insufficient to satisfy all wants). • But, what are the economic means to freedom? Simply put, economic freedom means giving people the sovereignty to work, produce, consume and invest in ways they feel are most productive. Economic freedom can foster capital inflows, economic growth and development, human capital mobility, political freedom, democracy and higher investment levels. Neither domestic nor foreign investors will agree to invest where returns on investment are uncertain because of undefined property rights, stagnating government bureaucracy, trade barriers, undefined law systems and regulations. Investors are reluctant to establish ownership of foreign companies or set up businesses abroad if corruption or political or social instability are likely to jeopardize operations. Microeconomics is a branch of economics that studies how individuals, households, and firms make decisions to allocate limited resources, typically in markets where goods or services are being bought and sold. Macroeconomics is another branch of economics, and deals with the performance, structure, and behavior of the economy as a whole. Economics is the social science that studies the production, distribution, and consumption of goods and services. The science which studies human behavior as a relationship between endsand scarce means which have alternative uses (scarcity means that available resources are insufficient to satisfy all wants). But, what are the economic means to freedom? Simply put, economic freedom means giving people the sovereignty to work, produce, consume and invest in ways they feel are most productive. Economic freedom can foster capital inflows, economic growth and development, human capital mobility, political freedom, democracy and higher investment levels. Neither domestic nor foreign investors will agree to invest where returns on investment are uncertain because of undefined property rights, stagnating government bureaucracy, trade barriers, undefined law systems and regulations. Investors are reluctant to establish ownership of foreign companies or set up businesses abroad if corruption or political or social instability are likely to jeopardize operations. Microeconomics is a branch of economics that studies how individuals, households, and firms make decisions to allocate limited resources, typically in markets where goods or services are being bought and sold. Macroeconomics is another branch of economics, and deals with the performance, structure, and behavior of the economy as a whole. Dictionary

6. WRITE TRUE OR FALSE Economics is like a science. Economists sound as if they always agree. Economists make general principles sound easy.A limited knowledge of economics means knowing about macroeconomic decisions. Domestic workers perform typical domestic chores. The layman will never trouble over dissension within the discipline of economics. Economics means allocating resources to produce goods and services for improving the standard of living of the human species.Economic freedom means reducing wealth. Capital flows are more likely to carry fewer risks in countries where laws and regulations are clear.If political instability is likely to jeopardize operations, firms will never take investment decisions. What do the underlined words mean in the text? Aspeople may observe, women and men who work closely together often get tied up in communication knots, especially over issues that involve power, advocacy, and managingthe troops.That's because the sexes have distinct ways of communicating. They request action differently, and advise on technical matters in different ways, too. Their verbal responses and timing are different. And they have different styles for expressing workplace demands. The result can be misunderstandings. Today, nearly half of all privately owned companies are 50% or more owned by women, according to the Center for Women's Business Research. That means there are 11 million private enterprises at which women business owners must communicate their goals and operational needs to male and female customers, vendors, partners and employees. Women need to understand how men talk in business, and vice versa. If not, mistaken assumptions fuel misunderstandings.

7. AFFIXATION: PREFIX: A letter or a group of letters added to the beginning of a word to change its meaning. SUFFIX: A letter or a group of letters added to the end of a word to make another word. SOME PREFIXES SOME SUFFIXES 6B

8. On one hand, some people are highly critical of what they call "the unequal distribution of wealth." As they see it, justice would require a state of affairs under which nobody enjoys ‘superfluous luxuries’ as long as other people lack things necessary for the preservation of life, health, and cheerfulness. The ideal condition of mankind, they pretend, would be an equal distribution of all consumers' goods available. As the most practical method to achieve this end, they advocate the radical expropriation of all material factors of production and the conduct of all production activities by society, that is to say, by the social apparatus of coercion and compulsion, commonly called government or state. On the other hand, other contemporaries believe that capitalism has radically transformed all human affairs. According to them, population figures have multiplied. In the few countries where neither the policies of the governments nor obstinate preservation of traditional ways on the part of the citizens put insurmountable obstacles in the way of capitalistic entrepreneurship, the living conditions of the immense majority of people have improved spectacularly. Implements never known before or considered as extravagant luxuries are now customarily available to the average man. The general standard of education and of material and spiritual well-being is improving from year to year. Find a word in the text that fits the following description: • ‘Not’ ______________________ • ‘State, quality’ ______________________ • ‘Agentive’ ______________________ • ‘In a manner…’ ______________________ • ‘Political movement’ ______________________ • ‘State,action’ ______________________ • ‘Status, condition’ ______________________ Underline the best alternative according to the text: • Supporters of the “(equal – unequal) distribution of wealth" postulate reject the economic system of capitalism. • Justice, for them, means (inequality-equality) of opportunities and outcomes. • Their governments (control-do not control) production activities • Other contemporaries are (likely–unlikely) to agree with the proposed condition of mankind • They (believe – do not believe) that man's economic task is not the distribution of gifts dispensed by a benevolent donor, • but production.