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ECONOMIC ACTIVITY
Most people work in order to earn their living.
They produce goods and services.
Goods are either produced on farms, like maize and milk, or in factories, like cars
and papers.
Services are provided by such things as schools, hospitals and shops.
Some people provide goods, some provide services.
For example, in the same garage, man may buy a car, or he may buy some service
which helps him to maintain his car.
The work, which people do is called their economic activity.
Economic activities make up the economic system.
The economic system is the sum-total of what people do and what they want.
The work which people undertake either provides what they need or provide them
with money.
People buy essential commodities with money
I. ANSWER THE FOLLOWING QUESTIONS
II. VOCABULARY
1. There are 20 million people who want to a) The EXCHANGE RATE is stable
work in Zakaria, one million do not have
job ( D )
2. Some industries are privately owned b) The standard RATE OF INCOME
and some are state-owned ( I ) TAX is 30
3. Last year the size of the economy was c) The MANUFACTURING SECTOR
$100 billion. This year it is $ 101 is larger than the service sector
Billion ( F )
4. Prices are much higher this year than d) the UNEMPLOYMENT RATE is 5%
last year ( J )
9. Today you can buy 10 Zaks for one i) Zakaria has a MIXED ECONOMY
US dollar. Last year it was the same.
( A )
10. Two million workers are members j) the RATE OF INFLATION is high
of labour organization. ( H )
I. GRAMMAR
A. SUPPLY THESE SENTENCES WITH EXPLETIVE “there are”, “there is” or “It is”
1. It is risky to invest in the economic crisis
2. There are some people waiting for you at the longue
3. It is dangerous to climb the volcano
4. It is more efficient to save money every month
5. There is a mistyped word in the agreement
6. There are some people waiting in the line
7. There are many cars in the parking lot
8. It is comfortable to sit around in the park
9. There are a lot of vacancies in the offices in Jakarta
10. It is nice to be important but it is more important to be nice.
11. It makes a lot of money to study further.
12. It makes you if you work all day long.
13. It is sad to hear the bed news
14. There are many projects in the neighboring countries
15. There is a man behind the door.