THE SCIENCE OF ECONOMICS Economics is a science. This science is based upon the facts of our everyday lives. Economists study our everyday lives. They study the system which affects our lives. The economist tries to describe the facts of the economy in which we live. He tries to explain how the system works. His methods should be objective and scientific. We need food, clothes and shelter. If we could get food, clothes and shelter without working, we probably would not work. But even when we have these essential things, we may want other things. If we had them, these other things (like radios, books and toys for children) might make life more enjoyable. The science of economics is concerned with all our material needs and wants. It is not just concerned with basic needs like food, clothes and shelter. 2. Give Russian equivalents to the following: to be based upon, to affect our lives, to describe the facts, to explain how the system works, objective, probably, essential things, make life more enjoyable, to be concerned with, basic needs 3.Complete these sentences with the words given below in appropriate form and translate the sentences into Russian: to be concerned with, to explain, to affect, enjoyable, method 1. Economists study the system which our lives. 2. The economist tries how the system work. 3. Economic should be objective and scientific. 4. Radios, books and toys for children make life more 5. It essential things. 4. Complete the sentences and translate them into Russian: The science of economics ... Economists try ... Even when we have ... We need ... Economics is based upon ... If we could get food ... 5. Answer some questions on the Text: 1. What is economics? 2. What is it based upon? 3. What two things do economists study? 4. What does the economist try to describe? 5. What should the economist's methods be? 6. What do we need? 7. What things might make life more enjoyable? 8. What is the science of economics concerned with?