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1. What type of economy do Great Britain and the USA have?

2. What is the role of the government in their economies?

3. What natural resources are Great Britain and the USA rich in?

4. What are the main branches of British industry and the US industry?

5. What are the branches of the US agriculture and British agriculture?

6. What role does agriculture play in the economy of Great Britain?

7. Why does Great Britain have to import agricultural products?

8. What makes the United States a leading exporter of food products? What can you say about international trade of Great Britain?

9. What are the main Britain’s exports

10. What place does the USA hold in the capitalist world?



1. What is economics?

2. What does economics study?

3. What are the key terms of economics?

4. What does economics deal with?

5. What are economic products?

6. What is the difference between goods and services?

7. What are consumer goods intended for?

8. What are capital goods?

9. What does the term “value” mean in economics?

10. What does the term “wealth” mean in economics?

11. What is country’s total worth?

12. What is utility?

13. What is the correlation between value and scarcity?

14. What is counted as wealth?



1. What do all societies have in common?

2. What does the survival of any society depend on?

3. What is an economic system?

4. What are all societies faced with?

5. What determines the type of economic system?

6. What are the major kinds of economic systems?

7. How are the main economic questions decided in society with a traditional economy?

8. What is the role of individuals in a traditional economy?

9. What is the main advantage of a traditional economy?

10. What are the disadvantages of a traditional economy?

11. What is a command economy?

12. Who makes most of what, how and for whom decisions in a command society?

13. What is the major advantage of a command economy?

14. What disadvantages does the command economy have?

15. What is a market economy?

16. How are the basic economic questions answered in a market economy?

17. What is the main incentive of a market economy?

18. What advantages does a market economy have?

19. Why are all economies considered as mixed?



1. What is the reason people cannot satisfy all their wants and needs?

2. What are the factors of production?

3. What does the term ”land” mean?

4. What do economists think of land as a factor of production?

5. What is labour in economic theory?

6. What is the national labour force?

7. What does the size of labour depend on?

8. What categories does labour fall into?

9. What kind of work do unskilled workers perform?

10. What category do workers with mechanical ability fall into?

11. What kind of work are skilled workers able to do?

12. What is professional labour?

13. What is a wage rate?

14. How do supply of labour and demand for labour affect the wage rate?

15. What is the third factor of production?

16. What is the difference between physical and financial capital?

17. When does production take place?

18. What is entrepreneurship?

19. What role do the entrepreneurs play?


Date: 2016-03-03; view: 1240

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