Exercise 6. Mark the sentences that are true.

1. The modern word “economics” has its origin in the Greek word “oikonomos” meaning a manager.

2. Economics is a social science.

3. Everyday business of providing the means of life is called by the general term “government regulation”.

4. Microeconomics explores the behaviour of the financial markets and analyses how they allocate capital.

5. Economics studies the upswings and downturns in unemployment and production.

6. The essence of economics is to produce valuable commodities using scarce resources and distribute them among different countries.