Task 1. Make up sentences with the following words. demand
factors of production
law of demand
Answer. 1. Demand is a concept that consumers and businesses are very familiar with because it makes sense and occurs naturally in the course of practically any day.
2. Demand curves can be used either for the price-quantity relationship for an individual consumer, or for all consumers in a particular market.
3. Demand schedule is a tabulation of the quantity of a good that all consumers in a market will purchase at a given price.
4. Economic surplus refers to the gain consumers and producers receive in a particular transaction and is a measure of market wellbeing.
5.Equilibrium is the state in which market supply and demand balance each other, and as a result prices become stable.
6.An equilibrium price, also known as a market-clearing price, is the consumer cost assigned to some product or service such that supply and demand are equal.
7.This mutually desired amount is called the equilibrium quantity.
8.Factors of production, resources, or inputs are what is used in the production process to produce output—that is, goods and services.
9. The law of demand states that other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely.
10. General price controls on prices of many goods are often imposed when the public becomes alarmed that inflation is out of control.
Task 2. Translate the given sentences into your native language. 1.When economists talk about prices, they are less interested in understanding of what determines prices and why prices change.
2. Economists use the term demand to refer to the amount of some goods or services consumers are willing to buy.
3.Demand is fundamentally based on needs and wants if you have no need or want for something, you won't buy it.
4. What a buyer pays for a unit of the specific good or service is called price.
5. A rise in price of a good or service almost always decreases the quantity demanded of that good or service.
Answers 1.Iqtisodchilar narxlar haqida gapirilganda, ular narxlarni belgilaydigan narsa va narxlar nima uchun o'zgarishini tushunishga unchalik qiziqmaydi.
2. Iqtisodchilar talab atamasidan iste'molchilar sotib olishga tayyor bo'lgan ba'zi tovar yoki xizmatlar miqdorini bildirish uchun foydalanadilar.
3.Talab asosan ehtiyoj va istaklarga asoslanadi, agar biror narsaga ehtiyojingiz bo'lmasa yoki xohlamasangiz, uni sotib olmaysiz.
4. Muayyan tovar yoki xizmat birligi uchun xaridor to'lagan narsa narx deb ataladi.
5. Tovar yoki xizmat narxining oshishi deyarli har doim ushbu tovar yoki xizmatga talab miqdorini kamaytiradi.