COMPREHENSION CHECK

1. Look back at the suggestions in the Pre-reading task. Have you changed your mind about any of them?

2. Answer the questions.

a. Does the magazine article talk more about positive side of winning a lot of money, or the

negative side?

b. How can a large amount of money affect our work? our home? our friends?

c. How does the article say money can be “frittered away”?

e. Give three facts each about the lives of Val Johnson, Alice Hopper, and Malcolm Price.

Why are they all mentioned?

f. In the imaginary family that has won £1 million, who says, “It won’t change us”? Who says, “I

want it to change us”?

g. What do the children want to have? What does the neighbour want?

h. Who in the family doesn’t buy anything? What do the others buy?

UNIT 2 ECONOMICS AS A SCIENCE

PRE-READING ACTIVITIES

Economy

- a system according to which the money, industry, and trade of a country or region are organized.

- a country’s economy is the wealth that it gets from business and industry.

- careful spending or the use of things

- large-size packages of goods which are cheaper than the normal sized packages on sale.

Economic

- concerned with economics and with the organization of the money, industry, and a trade of a country, region, or social group.

- relating to services, businesses, etc. that produce a profit.

Economical

- something that is economical does not require a lot of money to operate.

- using the minimum amount of time, effort, language, etc. that is necessary.

Economics

the study of the production of wealth and the consumption of goods and services in a society, and the organization of its money, industry, and trade.

Economist

an expert or student of economics.

Economize

save money by spending it very carefully and not buying expensive things.

To show that you understand the words given above, choose the best word to complete the following sentences.

1. The _________________ system of a country is usually called the national _____________.

2. We sometimes call a person’s work his ___________________ activity.

3. New England’s ________________ is still largely based on manufacturing.

4. These businesses contribute hundreds of millions of pounds to the ____________ of the country.

5. I switched off the lights as an ___________________ measure.

6. People should be very _________________ with the money they earn.

7. You’ll have to travel ___________________ class.

8. Buy our new _____________________ packs of 100.

9. If you are really going to buy a car, we’ll have to ______________________ on other things.

10. Marx and Keynes are two famous _________________________ .

11. She thought of herself as an _____________________ wife.

12. This system was extremely _______________________ because it ran on half-price

electricity.

13. _________________ is the oldest of social sciences.

DISCUSSION