What is economics?

Mr. Delgado is an (exceptionally) exceptional teacher. He prepared careful for classes, and his lessons were almost always interested. He explained clearly the material, and he returned always our tests on time. This was not an easy class, but the time always passed fastly because the students were exciting by the material. I studied hardly for this class – more than two hours a night – because Mr. Delgado gave hard tests. His tests were very fairly though. We were never surprising by test questions because they were all from class work or the textbook. I did good in this class, and I’m sure other students will too. I recommend highly his class.

Final Writing Task. Analyse weak and strong sides of outdoor advertising in our town. Answer the revision questions.

1. How many advertisements do you think you see or hear every day?

2. How many times do you have to see an advertisement before it begins to annoy you?

3. What makes an advertisement memorable?

4. Give examples of advertisements that have persuaded you to buy the product.

Suggested activity in conclusion. There are many quotations of famous personalities. Translate the given ones. Do you agree with them? Try to find other examples dealing with advertising.

1. “Advertising makes people buy things they don’t need with money they haven’t got” (William Rogers)

2. “The function of advertising is to make the worse appear better” (Thomas Wolfe)

3. “Advertising is the greatest art form of the twentieth century” (Herbert Marshall McLuhan)

What is economics?

1. the social science that describes and analyzes how society chooses from among scarce resources to satisfy its wants. b the science of the production and distribution of wealth.

2. Economists study what is or tends to be and how it came to be.

3. The key terms of economics are needs , wants , and demands .

4. economics deals with production, distribution, exchange and consumption.

5. the main economic products are goods and services

6. The difference between goods and services is that the services are something that cannot be touched or felt like goods.

7. Consumer goods are intended for²final use by individuals to satisfy their wants and needs

8. Manufactured goods used to produce other goods and services are called capital goods

9. In economics the term value means something having a worth that can be expressed in dollars and cents

10.wealth is the sum of those economic products that are tangible, scarce, useful and transferable from one person to another

11.Most economic goods are counted as wealth, but services are not

12.One person may, for example, get a great deal of⁴enjoyment from a home computer, another may get very little

13. it is the stockpile of useful scarce⁵, tangible things⁶in existence at a given time

MONEY

1. money is what money does

2. money functions as a Medium of Exchange, a Measure of Value, and a Store of Value.

3. As a medium of exchange, money is something generally accepted as²payment³for goods and services

4. As a measure of value, money expresses worth in terms that most individuals understand

5. Money also serves as a store of value. This means goods or services can be converted into⁴money that is easily stored until some future time.

6. there are such forms of money as coins, currency and electronic money.

7. The term currency refers to paper money issued by government

8. The term coin refers to metallic forms of money and The term currency refers to paper money

9. they are very durable and rates high in divisibility

Date: 2014-12-21; view: 1597