3. GDP is one of the measures of a country’s economic growth.
4. The more production of goods and services indicates the more development of the
economy.
5. “Recession” means the economic growth.
1 ………………..
2 ………………..
3 ………………..
4 ………………..
5….……………..
Exercise 4:
Fill in the blanks. Use the words in italic
what
how issues
principles for
training both at anything the
Economics is
(1) ………………. study of how individuals and nations make choices
about how to use scarce resources to fill their need and wants.
A resource is (2)
………………. that people can use to make or obtain
(3) ………………. they need or want.
You may be asking yourself
(4) ………………. this point how economics will help you, a
student. Also may be wondering how scarce resources is the problem
(5) ………………. a
nation like the United State that has such abundant resources.
It may surprise you to know that many of the decisions you will face as a citizen deal
with
(6) ………………. the government should use its resources. Learning economic
(7)
………………. can help you make decisions about candidates
for political office, political
and social
(8) ………………. and the goal of the government should set for itself, such as
how to spend government revenues. Many people are familiar
with the benefits of
government programs such as job
(9) ……………….
and Medicare, but how many people
are aware of the costs of programs? Economics
can help you to understand (10)
………………. costs and benefits, therefore, help you to make better decisions.
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