KEY TO READING HP1

UNIT 7 – LABOUR
I. ORAL QUESTIONS
a. In addition to being a means of exchange, money is a means of measuring the value of
men’s labour.
b. In economic theory, “labour” is any work undertaken in return for a fixed payment.
c. because it receives no fixed payment in return.
d. He measures the services which people render to each other.
e. He is not concerned with the services which people provide for no financial reward.
f. objective and scientific
g. religious and subjective
h. The work of the nurse and that of the farm worker are both measurable in terms of payment
received.
i. In the economic sense, labour is not concerned with distinctions of social class.
j. self-employed.
k. He receives the surplus from the whole business.
l. It is called profit.

II. COMPREHENSION
a. True
b. False – because it receives no fixed payment.
c. False - The economist is not interested in the services which people provide for nothing.
d. True
e. True
f. False – Economists say that the activities of farm workers and nurses are very different.
g. False – Labour in the economic sense is also concerned with the payment of wages in return
for work in general (not to any particular labour force).
h. False – he receives the surplus – not fixed payment.
III. WORD STUDY
A. Negative words
a. disability
b. displeasure
c. disagree
d. disobey
e. disengaged
f. disconnect
g. disqualify
h. discontinue
i. dispossess
j. discomfort
B. Adjectives from nouns
a. monetary
b. additional
c. basic
d. beneficial
e. commercial
f. capitalist
g. responsible
h. natural
i. local
j. major
k. minor
l. relative

IV. SENTENCE STUDY

1. The Managing Director of Gourmet LTD is Mr. Mann, whose expertise on financial
investments is well-known.
2. It is important to sometimes see clients in a more relaxed atmosphere where you can get
to know your business partner better.
3. Mr. Sanchez, whom Mr Blake met at the convention in Paris, has been the manager of
General Union Bank PLC for five years.
4. The man who got an electric shock when fixing a duplicator is an engineer of Travel
Services.
5. Stockholders whose financial liability is limited are not responsible for a company's
debts.
6. Paul Rime manages Impex International, which employs 94 people in five offices.
7. Tet is the time when all offices and businesses are closed.
8. The factory where my brother is working finances its expansion by issuing more stock.
9. The annual conference of the Association of European Exporters adjourns at 11 o'clock,
when all participants will have coffee break.
10. Mr. Green is planning the tour (that) his clients will be most interested in.
11. The document which shows all your transactions is called a statement.
12. The secretary whose salary has not been raised for two years is going to leave the firm.