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- Dwi Julianti (22211244)
- Fitri Oktaviani (22211922)
- Putri Chelline Syari (25211638)
- Selvi Andeslin (28211853)
- Suri Putri Pertami (26211948)
Most people work to earn a living, and produce goods and services. Goods are either agricultural (like maize) or manufactured (like cars). Services are such things as education, medicine and commerce. Some people provide goods; some provide services. Other people provide both goods and services. For example, in the same garage a man may buy a car or some service which helps him maintain his car.
The work people do
is called economic activity. All economic activities taken together make up the
economic system of a town, a city, a country or the world. Such an economic
system is the sum-total of what people do and what they want. The work people
do either provides what they need or provides the money with which they can buy
essential commodities. Of courcse, most people hope to have enough money to buy
commodities and services which are non-essential but which provide some
particular personal satisfaction, such as toys for children, visits to the
cinema and books.
The science of
economics is based upon the facts of our everyday lives. Economists study our
everyday lives and the general life of our communities in order to understand
the whole economic system of which we are part. They try to describe the facts
of the economy in which we live, and to explain how it works. the economist's
methods should of course be strictly objective and scientific.
We need food,
clothes and shelter. We probably would not go to work if we could satisfy these
basic needs without working. But even when we have satisfied such basic needs,
we may still want other things, such as the toys, visits to the cinema and
books mentioned above. Our lives might be more enjoyable if we had such things.
Human being undoubtedly have a wide and very complex range of wants. The
science of economics is concerned with all our needs with the desire to have a
radio as well as the basic necessity of having enough food to eat (Taken
from A Rapid Course In English For Students Of Economics by Tom
McArthur).
A. COMPREHENSION
5. What is based upon the facts of our everyday lives ?
Answer : The sentence of economists is based upon the facts of
our everyday lives.
6. Why the economists
should study our everyday lives?
Answer : The economists should study our everyday lives and
the general life of our communities in order to understand the whole economic
system of which we are part.
