Moiseeva_F

Summarizing.

Complete the following sentences to summarize the text above:

In microeconomics we study the problem of…
In macroeconomics we analyze the overall…
State intervention in economic sectors began…
Governments have now four basic economic objectives:…

Text organization.

The statements below express the main ideas of the text. Number them so that they are in the same order as the ideas in the text. The first one is given for you:

	Statement	Order
	Governments have four basic economic objectives: full employment, price stability, balance-of-payments equilibrium, and economic growth
	In macroeconomics we employ the theory of the circular flow of income in order to analyze the overall behaviour of the economy.
	In microeconomics we approach the problem of allocating scarce resources with a theory of price determination based upon the interaction of supply and demand.
	Each microeconomic unit functions within the context of an entire economy.	1
	State intervention owes its development to the inter-war depression (1921-39).
	Governments now intervene in all economic sectors.

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