His name's Ivan. He lives in the south of France. He's very active. His week is very busy. On Mondays, Ivan swims in the sea or in the swimming pool. On Tuesdays, he goes to the gym and then he goes to a dance class. On Wednesdays, he rides his bicycle in the mountains, but on Thursdays he stays at home and relaxes. On Fridays, Ivan plays tennis or football with friends. At the weekend, he usually goes skiing.
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1. Economists are interested in the problems of factors that affect prices of goods and services and necessary recourses to produce them, as well as sellers' and buyers' behaviour in the market and <span>the relationship between "price system" and "market mechanism"
</span>2. Three main approaches to economics are <span>microeconomics, macroeconomics, and development economics.
3. Specialized areas of economics are </span><span>money economics, international economics, labour economics, industrial economics, agricultural economics, growth economics, mathematical economics, etc.
4. Economists use economic models </span><span>to understand economic problems and make correct predictions
5. </span><span>It is not possible to include all the details in a model because real life is complex and a model is an abstraction from real life.
6. A model usually include essential elements and relationships of a particular economic situation
7. An economists choose the model that predicts the results of a particular phenomenon more accurately
8. It is necessary to collect and study actual data in order to know how accurate a model is</span>
They _HAVE___ never ___BEEN__ abroad.
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