and commodities
(to sell), producers will use additional inputs.
11. Supply (to depend) on output prices and input prices. An increase in the price of an input (to result) in a reduced use of that input. A reduction in the price of an output (to have) the same effect as an increase in the price of input, that is, a reduced use of input. The input use (not to change), provided output and input prices (to rise) or (to fall) by an equal percentage. Thus, the effect on output of a decrease in product prices (can) (to be neutralized) by an equal percentage decrease in input prices. Sometimes the prices of inputs and outputs (to change) together. For example, a fall of livestock product prices (to reduce) the demand for feed grains. This (to lead) to a fall in the price of feeds, that is, the price of inputs.
11. a) Вставьте пропущенные предлоги, где это необходимо.
1. The growth… output… person rather than the growth… total output is… greater importance… an economy.
2. The companies selling consumer goods recognize the importance… consumer preferences; they spend over $40 billion… a year… the US… advertising trying to direct consumer preferences… their own products.
3. An increase or a decrease… total revenue may follow… a price rise and a decrease… the quantity produced accompanying it. The effect depends… which change is larger – the change… price or the change… the quantity produced.
4. After a particular market is defined… terms… its product and its geographic area, the economist can study the workings… demand and supply… that particular market.
5. As the price… a good increases, consumers can buy less… all goods, including… the good whose price has risen.
6. Opportunity costs and amounts paid… all resources are included… total costs.
7. The output… beer… Russia's largest beer maker, Baltika Brewery, grew… 30 percent… 1999… the previous year.
8… 1999, industrial production… Russia increased… 7.9 percent but the output… agricultural sector decreased… 0.6 percent compared… 1998 level.
9. Every field, economics… particular, has its «schools» and groups. «Liberal» economists believe… market system opportunities. But they also believe… government support and regulation… an economy. «Classical liberals» or the «Chicago Group» rely… people's private choices as the rational basis… the economic system. «Radical» economists, including… Marxists and other critics, believe that free-market capitalism must result… depressions and mass unemployment. They assume that governments must ran… all economic units and make all economic decisions.