Exercise 4. Finish the sentences using the right variant. Translate the sentences into Russian.

1. Adam Smith was ...

2. He founded ...

3. At the age of 28 Adam Smith became ...

4. With the financial security of his grant Smith ...

5. His book was an analysis of ...

6. Adam Smith laid ...

7. T. R. Malthus put forward ...

8. A. Marshal was the first to put forward ...

 

a) the theory of overpopulation; b) devoted 0 years to writing his book; c) the Industrial Revolution of the 18^th century; d) a great Scottish scientist; e) the science of economics; f) the basic principles for the system of taxation; g) a Professor of Logic; h) the idea of consumer’s surplus and elasticity of demand.