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Economic goals

Be prepared to answer the following questions:

1. What economic goals are widely accepted by different economic systems?

2. What is the purpose of business?

3. Do firms have the same economic goals as societies?

4. What priorities should central government set in governing the country?

5. How can central government ensure economic security?

Think of the Russian equivalents to the following English ones:

1. a trade-off

2. economic growth

3. employment

4. economic efficiency

5. an upswing

6. a downswing

7. deflation

8. income

9. a financial transaction

10. balance of trade

Read and translate the text. Then answer the questions:

1. What common goals do economic systems pursue?

2. What goals set by economic systems are mutually exclusive?

3. What goals set by economic systems are complementary?

4. What must be done when economic policies conflict?

5. Is it always possible to find a trade off?

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