Английский язык. Агафонова И.Г - 18 стр.

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constructed on the assumption of “other things equal”. In the demand for
football tickets, one of the “other things” that is important is whether or not the
game is being shown on television. We must examine how the price adjusts to
balance the quantities supplied and demanded, given the underlying supply and
demand schedules relating quantity to price.
       Let us think again about the market for chocolate described in Table 1.
Other things equal, the lower the price of chocolate, the higher the quantity
demanded. Other things equal, the higher the price of chocolate, the higher the
quantity supplied. A campaign by dentists warning of the effect of chocolate on
tooth decay, or a fall in household incomes, would change the “other things”
relevant to the demand for chocolate. Either of these changes would reduce the
demand for chocolate, reducing the quantities demanded at each price. Cheaper
cocoa beans, or technical advances in packaging chocolate bars, would change
the “other things” relevant to the supply of chocolate bars. They would tend to
increase the supply of chocolate bars, increasing the quantity supplied at each
possible price.


III.   Answer the following questions.
1. What economic categories do Western economies rely on to allocate
   resources between competing uses?
2. What economic term is appropriate to call the behaviour of buyers: demand
   or supply? Give your reasons.


IV.    Check up the pronunciation of unfamiliar words in a dictionary and read
       Text 2 aloud.


                  Demand, Supply, and Equilibrium (Text 2)
       1. Demand is not a particular quantity, such as six bars of chocolate. 2. It
is a full description of the quantity the buyer would purchase at each and every