END OF UNIT TASKS

Read what tasks you have to complete by the end of this unit.

Make sure you complete each task and hand it in on time.

Lesson 3: Make a picassa Video - Irish Meat

Lesson 1.2: Scarcity Vocabulary

After watching the video fill in the gaps with the vocabulary you heard. Watch the video again if necessary.

Scarcity

Gap-fill exercise

Fill in all the gaps, then press "Check" to check your answers. Use the "Hint" button to get a free letter if an answer is giving you trouble. You can also click on the "[?]" button to get a clue. Note that you will lose points if you ask for hints or clues!

1. Every family must make a to plan what they want to spend their money on.
2. There are cars in the world that oil has become .
3. grows in fields and is cultivated by famers.
4. means there is of a resource to satisfy everybody’s needs.
5. A business resources by giving their products a price.
6. Everybody has wants and needs.
7. is the reason the study of economics exists.

Lesson 1.1: Listening - The Origin of Economics: Scarcity

Watch the following video on Scarcity and answer the questions. Watch it as many times as necessary.

Quiz

Watch the video above and then answer these questions:

 

1. Where does the word Economy come from?
   1.   The German word for house and distribute.
   2.   The Greek word for house and distribute.(The management of a household)
   3.   The Latin work for house and distribute.(The management of a household)
2. What is the basic economic problem?
   1.   Needs and wants are unlimited but resources are scarce.
   2.   Needs and wants are limited and resources are scarce.
   3.   Needs, wants and resources are unlimited.
3. What is a synonym for resources?
   1.   Goods and services
   2.   Products
   3.   The factors of production
4. What are the 4 types of resources?
   1.   Land, capitals, labour and banking
   2.   Land, capital, labour and entrepreneurship
   3.   Land, governments, businesses and labour
5. What are the four examples of scarcity that are given.
   1.   Corn, oil, seats in a movie theatre and lemonade
   2.   Corn, money, lemonade and houses
   3.   Houses, money, lemonade and animals
6. Scarcity always leads to
   1.   Money
   2.   Business
   3.   Choice/making a decision
7. Economics is the social science that studies
   1.   How people use scarce resources to satisfy unlimited needs and wants
   2.   How people do business in different countries
   3.   How people use scarce resources to sell products

Lesson 2.2: Collocations for a business report

After reading and completing the exercise on the article on how to choose the right product or service to sell. Take a look at these sentences. There are some phrases that were included in the article. Check you know their meaning by filling the exercise below. These phrases will be useful for the report you have to write so think of how to include them in your report when possible.

COLLOCATIONS

Gap-fill exercise

Fill in all the gaps, then press "Check" to check your answers. Use the "Hint" button to get a free letter if an answer is giving you trouble. You can also click on the "[?]" button to get a clue. Note that you will lose points if you ask for hints or clues!

1. Unless sales improve, the company will bankrupt.
2. I'm sure we will a profit this year.
3. Things are going badly. We need to action.
4. I like the way they business in China.
5. We're a lot of risk but could a lot of profit.
6. We have chosen to our product to Germany.
7. Next year Nike are going to a new product on the market. They believe it will be very successful.
8. I'd like to your attention to the high number of sales in December due to our Christmas promotion.
9. Next week we are going to the deal with our Japanese partners. It are going to a lot of money!
10. Our customer service problems our customers encounter with our products.