1 ………………..
3 ………………..
5 ………………..
7 ………………..
2 ………………..
4 ………………..
6 ………………..
8 ………………..
Exercise 3: Fill in the blanks. Use the words in italic.
economic
slows down
from
growth
produce
to
grows value
more on services
economy
In every country, the production of goods and services provide the food, clothing and housing
that allow its people to service and prosper. Some countries (1) ………………. an abundance
of raw materials, such as coal and timber while others produce manufactured goods like steel
and automobiles. Some countries may concentrate (2) ……………….
producing
foodstuffs, like rice and butter while others produce (3) ……………….
such as movies,
insurance or banking. Whatever is not consumed in the country can be sold (4)
………………. other countries as exports.
The size of a country’s economy is determined by the total amount of goods and
services that is produced. As more and more goods and services are produced, the Economy
(5) ………………. and the best way to measure this growth is to put a monetary (6)
………………. on every bought or sold.
The measure of economic (7) ………………. thatincludes all the goods and services
bought and sold in a country over the course of a year is called gross domestic product
(GDP). GDP measures a country’s (8) ………………. activity, when a country produces (9)
………………. goods and services, its economic activity increases. A healthy (10)
………………. or stops, the economy is said to be in a “recession”.
1 ……………….. 3 ……………….. 5 ……………….. 7 ……………….. 9….……………..
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