Softskill

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 a 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 course, 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 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 beings undoubtedly have a wide and very complex range of wants. The science of economics is concerned with all our needs with desire to have a radio as well as the basic necessity of having enough food to eat. (Taken  formA Rapid Course in English for Students of Economics by Tom McArthur)

QUESTION   

1.      What is the main idea of paraghrap 1?

2.      What do most people produce?

3.      What is an economic activity?

4.      Mention of example of services which provide some personal satisfaction

5.      What is based upon the facts of our everyday lives?

6.      Why the economist should study our everyday lives?

7.      What do the economist try to do ?

8.      What is the main idea of paraghrap 4?

9.      What our basic needs?

10.  What is the meaning of the sentences “human beings undoubtedly have a wide and a very complex range of wants”  (line 26-27)?

ANSWER 

4.      The example of services which providesom personal satisfaction such as toys for children, visits to the cinema and books.

5.      The science of economics is based upon the facts of our everyday lives.

6.      Economists study our everyday lives in order to understand the whole economic system of which we are part.