III. Find the Russian equivalents to the following.
1. each factory is set a production target to meet;
2. to divert resources td wherever it wants;
3. new ideas rarely come forward;
4. tend to be slow when responding to, changes.
IV. Find synonyms for the words in italics.
obsolete products;
it can ensure that;
it can be very inefficient;
there is no incentive for individuals to work hard;
planned economies;
It led to many nations abandoning planned economies over recent years.
V. Fill in the gaps with the words and expressions from the text.
1. The type of system chosen is ... in ... in which businesses operate.
2. An economic system is the way in which a country uses its ... to satisfy the demands of ... for goods and service’s.
3. The more goods and services that can be produced, the higher the standard of living ... by the country's citizens.
4. The state ... factories, land and ....
5. Planned economies are economies with of ... , when the government ... all ... , decides ... and ......................................................... .
6. The actual system employed ... from state to state, but command or planned economies have ....
7. It is ... that there should be enough, goods and services for all.
8. Industries are asked . these plans and each industry and factory is set .
9. The factory and farm targets are ...... which, if met, a now the nation's ... to be reached.
10. Nations do not waste resources ....
11. The state can use its control of the economy ... to wherever it wants.
12. It is ... that have led to many nations ... planned economies over recent years.
13. There is no ... for individuals to work hard in planned economies.
14. Industries in planned economies can be very ....
15.Command economies tend to ... when ... to changes in peoples tastes and fashions.
16. Planners are likely ... some items as they cannot ... changes in demand.
17.Sоmе ... and unattractive products mау bе ....
18.This leads to ... for some products.
VI. Find in the text English equivalents for the following.
1. имеющиеся в распоряжении ресурсы;
2. управлять использованием ресурсов;
3. управление экономикой;
4. отказываться от плановой экономики;
5. иметь высокий жизненный уровень;
6. иметь общие черты;
7. подчиняться 5-летнему плану;
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8. значительное количество
9. ставить производственные задачи;
10. полученная прибыль;
11. стимул к эффективной работе;
12. перебои и очереди;
13. реагировать на изменения спроса;
14. предсказывать изменения спроса;
15. основная проблема, стоящая перед ...
VII. Answer the questions.
1. What is an economic system?
2. What does a standard of living depend on?
3. What is a planned economy?
4. What are the main features of a planned economy?
5. What are the advantages of a planned economy?
6. What are the disadvantages of a planned economy?
7.What causes delays and queues for some products?
8. What are other advantages and disadvantages of a planned economy?
VIII. Translate into English.
1. Если хозяйство плановое, то работа промышленности подчиняется плану, в котором государство определяет производственные задачи и планирует развитие наперед.
2. В плановой экономике покупатели лишены возможности влиять на производство товаров.
3.Поскольку значительная доля полученной прибыли должна быть выплачена государству, то в условиях плановой экономики стимулы работать эффективно невелики.
4. Промышленность часто выпускает непривлекательные и старомодные товары, поскольку невозможно предсказать изменения моды на 5 лет вперед.
5. Государство в условиях плановой экономики может гарантировать своим гражданам образование и медицинское обслуживание.
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6. Все крупные решения, касающиеся ·объема. используемых ресурсов, структуры и распределения продукции, производства и потребления, принимаются центральным плановым органом.
Text IV
I. Read and translate the following international words without using a dictionary.
Role, management, capital, investment, business, activity, product, automatically, interest, millionaire, fact, process, problem, police, serious, technology, social, economic, minimal, control, intervention, system, finally.
II. Read and translate the text.
MARKET ECONOMIES
In а true mаrkеt есоnomy thee gоvеrnment plays по role in the management of the economy; the government does not intervene in it. The system is based оn private enterprise with private ownership of the means of production and private supplies of capital, which саn bе defined as surplus income availableе for investment in new business activities. Workers аrе paid wages bу employers according to how ski11ed they are and how mаnу firms wish to employ them. They spend their wages оп' the products and services they need. Consumers are wi11ing to spend more оп products and services, which are favored. Firms producing these goods wi11 make more profits and this wi11 persuade mоre firms to produce these particular goods rather than less favored ones.
Thus, we саn see that in а market economy consumers decide what is to bе produced. Consumers wi11 bе wil1ing to рау high prices for products they particularly desire. Firms, which аге privately owned, see the opportunity of increased profits and produce the new fashionable and favored products.
Such а system is, at first view, very attractive.
The есоnоmу adjusts automatically to meet changing demands. No planners have to bе employed, which allows more resources to bе available for production. Firms tend to bе highly competitive in such an environment. New advanced products and low prices are good ways to increase sales and profits. Since all firms are privately owned they try to make the largest profits possible. In a free market individual people are free to pursue their own interests. They can become millionaires, for example. Suppose you invent a new kind of car. You want to make money out of it in your own interests. But when you have that car produced, you are in fact moving the production possibility frontier outwards. You actually make the society better-off by creating new jobs and opportunities, even though you become a millionaire in the process, and you do it 'without any government help or intervention.
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Not surprisingly there are also problems.
Some goods would be under purchased if the government did not provide free or subsidized supplies. Examples of this type of good and service are health and education. There are other goods and services, such as defense and policing, that- are impossible to supply individually in response to consumer spending. Once defense or a police force is supplied to a country then, everyone in this country benefits.
A cornerstone of the market system is that production alters swiftly to meet changing demands. These swift changes can, however, have serious consequences. Imagine a firm, which switches from labor-intensive production to the one where new technology is employed in the factory. The resulting unemployment could lead to many social well as economic problems.
In a market economy there might be minimal control on working conditions and safety standards concerning products and services. It is necessary to have large-scale government intervention to pass laws to protect consumers and workers.
Some firms produce goods and then advertise heavily to gain sufficient sales. Besides wasting resources on advertising, firms may also duplicate one another's services. Rival firms, providing rail services, for example, could mean that two or more systems of rail are laid.
Finally, firms have to have confidence in future sales if they are to produce new goods and services. At certain times they tend to, lack confidence and cut hack on production and the development of new ideas. This decision, when taken by many firms, can lead to a recession. A recession means less spending, fewer jobs and a decline in the prosperity of the nation.
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Vocabulary
to own and run (to manage, to operate) businesses – владеть, управлять бизнесом
to intervene -вмешиваться
private ownership (property) of the means of production – частная собственность на средства производства
public property, common ownership – общественная собственность
state-owned property, state ownership – государственная собственность
private supplies of capital – частный капитал
surplus income available for investment in new business activities – дополнительный доход (излишек дохода), который можно вложить (инвестировать) в новое дело (бизнес)
employer – работодатель
employee - служащий
employment - занятость
unemployment – безработица
to persuade -убеждать
to adjust automatically – автоматически приспосабливаться, приводиться в соответствие
competitive - конкурентоспособность
to make the largest profits possible - получить наибольшую возможную прибыль
to pursue one's own interests – преследовать свои интересы
to make money out of it – заработать деньги на этом
to move the production possibility frontier outwards продвинуть вперед предел своих возможностей
to make the society better-off – сделать общество более состоятельным
to create new jobs and opportunities – создать новые рабочие места, новые возможности
to underpurchase – недостаточно раскупать
to provide free or subsidized supplies – обеспечивать бесплатное или субсидированное (дотированное) предоставление товаров (услуг)
a cornerstone – краеугольный камень
to alter swiftly – быстро меняться
consequences - последствия
labour-intensive production – трудоемкое производство
large-scale intervention – широкомасштабное вмешательство
to pass laws – принимать законы
to gain sufficient sales – добиться достаточного объема продаж
rival firms – фирмы-конкуренты, соперники
to have confidence – иметь уверенность
to lack confidence – не хватать уверенности
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