THE DIFFERENT SECTORS OF THE ECONOMY 2024

TASK 1 Look at this definition of economy and economics and fill in the gaps with the words provided.
There are more words than you need.

monetary / concerned / focused / facilities / activities / agents / labour / resources / satisfying / assets /
access / although / households / despite / reach

An economy is a collection of interconnected 1. __________ such as production, distribution, trade and

consumption by different 2. ____________ including individuals, businesses, organizations and
governments. To present it in a slightly more general way, it’s the production, use and management of
3.___________ . Economic activity is triggered by production which traditionally uses natural resources,
4.__________ and capital to provide us with goods and services 5. __________ our needs. However,
increasingly more and more often economic activity is enhanced by other elements including technology,
innovation and unlimited 6. ____________ to information. Economics, 7. ____________ very similar in
meaning, is the social science that studies production, distribution and consumption of goods and services.
It analyses the behaviour and interactions of economic agents and how economies work. Microeconomics
concerns agents such as 8.____________ , businesses, buyers and sellers and concepts such as demand
and supply. Macroeconomics, on the other hand, is more 9. ___________ with the total picture of the
system. The entire economy is analysed in terms of production, consumption, savings, investment,
unemployment, inflation, economic growth, 10. _____________ and fiscal policies to mention only a few.

TASK 2 An economy can be divided in many different ways depending on what we focus on. The most
popular ways of doing that are the ones listed below. Look at them and decide in which part you
work/would like to work.

 Primary sector of the economy: the extraction and production of raw materials (oil, coal, iron
ore, etc.) and agriculture, fishery and forestry.
 Secondary sector of the economy: here raw materials are turned into finished goods. This sector
is also called manufacturing or production and individual businesses involved in there are
industries.
 Tertiary sector of the economy traditionally called services such as entertainment, retailing,
hairdressing, banking, etc.
 Quaternary sector of the economy comprises activities related to information technology,
research and development, consulting and education.

 Private sector of the economy - privately run businesses

 Public sector of the economy public health and education, courts of justice, transport facilities,
nature reserves, the army, the police, etc. (state-owned enterprises)
 Non-profit sector of the economy also called not-for-profit or non-governmental sector.
Organizations in this sector focus on social services, the environment and education.

Industry groups such as:

 consumer discretionary
 consumer staples
 health care
  financials: banks, insurance, real estate
 utilities: gas, water, electricity
 telecommunication services
 information technology
 industrials
 energy

TASK 3 Another cup of tea

Vocabulary
a circuit – a pattern that forms a circle, obwód
semis – semi-detached houses, bliźniak
pebble-dashed – with small pebbles used on walls
to be oblivious of/to – not to remember, niepomny
to dig – to extract
to smelt – to melt a rock
to mill – to shape, form
an ore – material containing metal, ruda
to weld – spawać, skuć
a score – 20
myriad – a countless number

Think about something essentially Polish, a product that we use on a daily basis, and the route it has to go
through to be used or consumed by end-users.