Put the verb into the most suitable form, past continuous (I was doing), past perfect (I had done) or past perfect continuous (I had been doing).

 

1. It was very noisy next door. Our neighbours were having (have) a party.

2. We were good friends. We had known (know) each other for a long time.

3. John and I went for a walk. I had difficulty keeping up with him because he ___________ (walk) so fast.

4. Mary was sitting on the ground. She was out of breath. She _____________ (run)

5. When I arrived, everybody was sitting round the table with their mouths full. They _____________ (eat).

6. When I arrived, everybody was sitting round the table and talking. Their mouths were empty but their stomachs were full. They _____________ (eat).

7. Jim was on his hands and knees on the floor. He _____________ (look) for his contact lens.

8. When I arrived, Kate _____________ (wait) for me. She was rather annoyed with me because I was late and she _____________ (wait) for a very long time.

9. I was sad when I sold my car. I _____________ (have) it for a very long time.

10. We were extremely tired at the end of the journey. We _____________ (travel) for more than 24 hours.

 

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Economy

Economics is a science that analyzes what, how and for whom
society produces. The central economic problem is to reconcile the conflict between people`s unlimited demands with society`s ability to produce goods and services.

There are three types of managements in economies: a command economy (a planned economy), a free market economy, and a mixed economy.

A command economy is an economy which is totally planned. A central planning office makes decisions on what goods are to be produced and how they are to be marketed. As a rule the government decides everything. It sets all the priorities, and the producers are to follow the directions given to them.

The Soviet Union is an example of such totally planned economy. Communism is a political and economic doctrine which says that everything must belong to
the state and the government is to organize all the production. The idea is “from each according to his ability, to each according to his needs”. In Communism times economic strategic decisions were made by government and were not regulated by the price system. Another example of command economy is China. Its economy is similar to the Soviet Union one.

A free market economy is almost totally unplanned. The economy has no government intervention. Resources are allocated entirely through markets, as it is in the USA. But we can`t say that the American economy is totally unplanned. There is a certain government intervention in economic activity. As the economy of the United States grew, and as government and its importance increased, the government policy at every level acquired greater importance for the economy.

The USA economy is called unplanned or a free market economy because the government does not regulate the market: what should be produced and how it will be marketed. These problems are solved by the producers. Even the great amount of government regulation that has emerged since the Great Depression has not turned the economy of the USA into a command, planned economy. The American
economic system is named capitalism that is the free market economy.

Modern economies are mixed, they are a combination of planning and freedom of operation. Mixed economies rely mainly on the market but with a large dose of government intervention. The optimal level of government intervention remains a problem which is of interest to many economists. Thus, a mixed economy is an economy with specific features of market and command economies.

The degree of government restrictions differs greatly among modern countries which have command economies or free market economies. Examples of the mixed economy are eastern countries such as Japan, South Korea in which market and government are both of importance.

The free market allows individuals to produce goods and services
without any government restrictions. The command economy allows little individual economic freedom as most decisions are made by the government. Between these two extremes lies the mixed economy in which the government and private sectors co-operate in solving economic problems.

The government controls production through taxation and orders for goods and services for the army, the police force, administration and other needs.

 

Словарь

economics - экономика (как наука)

economy - экономика, хозяйство

good - товар, изделие

to allocate to… / in … - размещать, распределять

resources - ресурсы, средства

to consume - потреблять

demand for … - спрос на …

to rely on … - полагаться на …

intervention - вмешательство

restriction - ограничение

market - рынок

 

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