Translation
взимать налоги
to levy taxes
Give the definition of "complementary goods".
goods that are often consumed together
What are the most common misconseptions about economics?
That it is about forecasting or predicting the future. That it is about taking sides or offering one set of answers.
What is the difference between a public and a private good?
the latter, if consumed by one person, cannot be consumed by another
Put the words in correct order:
Do what know time you the begins lecture?
Do you know what time the lecture begins?
внешнее последствие экономической деятельности
externality
Give the definition of "collusion".
a secret arrangement between two or more firms to fix prices or share the market
Which metaphor can be used to understand the framework of the division of labor?
the storehouse metaphor
What factors may cause demand to change?
changes in environment, item's usefulness, income, price of substitute products, price/availability of complementary products, styles, tastes, habits
Put into passive: There is a rumour that several people have seen an escaped prisoner on the streets of Milan.
An escaped prisoner is rumoured to have been seen on the streets of Milan by several people.
снижать способность бедного населения покупать товары первой необходимости
to reduce the ability of the poor to buy necessities
Give the definition of "economies of scale".
factors which cause the average cost of producing something to fall as output increases
Why do we use percentages to calculate elasticity?
Percentages are universal measure.
What do oligopolies usually look to in order to determine their pricing policies?
price leadership, collusion, custom
It turned out that the bridge had been damaged ___ a lorry.
It turned out that the bridge had been damaged by a lorry.
правительства участвуют в крупномасштабном перераспределении доходов
governments engage in large-scale redistribution of income
Give the definition of "diminishing marginal utility".
the point reached when the last item consumed will be less satisfying than the one before
Which type of competition allows firms to earn above-avergae profits consistently – monopolistic competition or monopoly?
monopoly, with monopolistic competition firms can make above-average profit in the short-run but not in the long-run
List the factors of production.
Natural resources (land), human resources (labor), capital, entrepreneurship
Turn into reported speech - Tom: "I've made a mistake. I'm sorry."
Tom admitted/accepted that he had made a mistake and apologised.
возможность присвоения экономических выгод
appropriability
Give the definition of "perfect competition".
exists when products are homogeneous, and there are a great many firms too small to have any influence on the market price, and firms can easily enter and exit the industry
What are the possible results of the government investigation of a merger?
It can block the merger, allow the merger, or set some conditions
Give three examples of goods for which the demand is inelastic, and three examples of goods for which the supply is inelastic.
medicines, cigarettes, petrol; accomodation in the city centre, paintings by picasso, fossil fuel
Put the adjetives in correct order: The woman was carrying a well-used Italian big leather orange and white bag.
The woman was carrying a big well-used orange and white Italian leather bag.