Beltei International University

Faculty of Business Administration

Subject: English for Economics

Mid-term Test
Time allowed 60mns
Name:

Major:.......

Shift:. Group:

Scores:/100

A. Terminology
I. Match the following words with their definitions. (10)
. 1. Utility

a. individual welfare

. 2. Bundle

b. One millionth of second

. 3. Future

c. the amount used or eaten

. 4. Consumption d. Capability to perform or produce

. 5. Empirical

e. a forwarded contact that is traded on an exchange

. 6. Capacity

f. based on what is experienced or seen rather than on theory

. 7. Supply

g. small and light enough to be oriented while you hold it in hand

. 8. Mortgage

h. selling two or more products or services together as a single unit

. 9. Microsecond i. A conditional conveyance of property as security for the

repayment of a loan
. 10. Hand-Held

A to provide something that is wanted or needed, often in large

quantities and over a long period of time

II. Right or Wrong. Write R if words and their definitions fit, W if they are not fit. (10)
. 1. Performance

: any recognized accomplishment

. 2. Stable

: resistant to change of position or condition

. 3. Expect

: regard something not to happened

. 4. Fluctuation

: stable with the price

. 5. Misuse

: improper or excessive use

. 6. Mobility

: the quality of moving freely

. 7. Extraction

: the act of putting something in

. 8. Wealth

: an unless of material possessions and resources

. 9. Substitute

: a person or thing that takes or can take the place of another

. 10. Vast

: very great in size, amount, degree, intensive

III. Match the synonym. (10)

. 1. Access

a. make

. 2. Barrier

b. excess

. 3. Create

c. destruct

. 4. Degradation

d. banister

. 5. Surplus

e. advance

. 6. Destroy

f. admission

. 7. Efficient

g. competent

. 8. Improvement

h. debasement

. 9. wasteful

i. uneconomical

. 10. Self-sufficient

j. Self-sustaining

B. Gap Filling.
Choose the best answers of the missing space and write them on the space provided on
the right. (15)
. 1. When the supply and demand meet, it is called .
a. Equilibrium

b. equity

c. equality

. 2. allows such an efficient demand and supply of goods through the price system
a. Black market

b. Free-market

c. market

. 3. is about having perfect competition and efficiency where supply exactly meets demand
in a free- market.
a. Economic fee

b. Market economics c. Economics free market

. 4. The market economy encourage competition in a free market; whereby there are large
numbers of suppliers/producers and consumer/buyers.
a. worst

b. not perfect

c. perfect

. 5. Globalization means the worldwide movement of economic, , trade and communication

integration.
a. Business

b. financial

c. commercial

. 6. It is a free-market in the sense that all factors of production; labor, land, materials can be
owned by anyone who is...
a. Trading

b. enterprising

c. communicating

. 7. Market can be stable by supply and demand in equal manner.

a. maintaining

b. combining

c. concluding

. 8. is the study of aggregate measures of the economy.

a. Macroeconomics b. Microeconomics

c. Economics

. 9. Key principal of economic is , Choice, and Opportunity Cost.

a. scarcity

b. majority

c. minority

. 10. Natural resource, machine, materials are . of the output in the production process.
a. human resource b. non-human resource

c. resource

C. True or False Statements (15)

Write T if the following statement is True, and F if they are False.
......

1. Low unemployment and price stability are the only two economics goal.

......

2. Complementary goal refers to low unemployment and high economic growth.

......

3. Conflicting goal refer to high unemployment and low inflation.

......

4. Decisions are made at the Margin in key principal of economic.

......

5. Inflation is a general and progressive increase in price.

......

6. The career opportunities for economists in private sector are only analyst.

......

7. The core subjects that economics students study is only international Economics.

......

8. Economics is considered by many people not to be organized in a scientific way.

......

9. Microfinance plays an important role in helping macroeconomics stability.

......

10. Globalization is the study of the animals life on earth.

D. Answering the questions.

Read the question carefully and answers.
1. How can technology help improve investment? (20)
2. Explain why and how Microfinance can help improving economic in one country. (20)

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