Fill in the gaps with the words economy, economics, economist, to economize, economic, economical.

2. Fill in the gaps with the words economy, economics, economist, to economize, economic, economical.

1. An early definition of ___________ was “an enquiry into the nature and causes of the wealth of nations”.

2. Inflation may cause a bad ___________ state in a country.

3. The national __________ is the system of the management and use of resources of a country.

4. If you have a large family it’s more ____________ to travel by car than by train.

5. You can ____________ if you compare the prices of goods before buying them.

6. J.M. Keynes was a famous ___________.

3. Match the words with their definitions. Then choose three more words and write definitions for them. If necessary, make use of a dictionary.

1. significant	to value too highly
2. outsourcing	to go down
3. to overestimate	important
4. recovery	material on which a particular manufacturing process is carried out
5. to target	the practice of using workers from outside a company
6. to depend on	inadequate
7. to plummet	a group of people authorized by law to act as a legal personality and having its own powers, duties, and liabilities
8. insufficient	to aim
9. corporation	to be influenced by
10. raw material	restoration to a former or better condition

4. Translate the sentences into English using active words and expressions.

1. В экономике России происходят серьёзные изменения.

2. Экономика России долгое время зависела от сырьевых ресурсов.

3. Финансово-бюджетная и валютная политика страны меняются в условиях кризиса.

4. Все ожидают экономического роста.

5.Экономика России сильно пострадала в результате мирового экономического кризиса из-за падения цен на нефть.

6. Участвовать в различных международных проектах очень важно для экономики страны.