Выберите подходящее по смыслу слово из предлагаемых в скобках вариантов.
SUPPLY AND DEMAND
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The supply and demand model describes how prices vary as a result of a balance between product availability and demand.
Prices and quantities have been described as the most directly observable attributes of goods produced and exchanged in a market economy. The theory of supply and demand is an organizing principle for explaining how prices coordinate the amounts produced and consumed.
For a given market of a commodity, demand is the relation of the quantity that all buyers would be prepared to purchase at each unit price of the good. Demand theory describes individual consumers as rationally choosing the most preferred quantity of each good, given income, prices, tastes, etc.
The law of demand states that, in general, price and quantity demanded in a given market are inversely related. That is, the higher the price of a product, the less of it people would be prepared to buy of it (other things unchanged). As the price of a commodity falls, consumers move toward it from relatively more expensive goods (the substitution effect). In addition, purchasing power from the price decline increases ability to buy (the income effect).
Supply is the relation between the price of a good and the quantity available for sale at that price. Producers attempt to produce and supply the amount of goods that will bring them the highest profit. That is, the higher the price at which the good can be sold, the more of it producers will supply. The higher price makes it profitable to increase production.
Market equilibrium occurs where quantity supplied equals quantity demanded. At a price below equilibrium, there is a shortage of quantity supplied compared to quantity demanded. At a price above equilibrium, there is a surplus of quantity supplied compared to quantity demanded. This pushes the price down.
Соотнесите слова и их определения.
| 1. producer | a. the idea that the price of goods and services depends on how much of something is being sold and how many people want to buy it |
| 2. surplus | b. the usefulness of something |
| 3. supply and demand | c. more than is needed |
| 4. labour | d. a company, country or person that makes goods |
| 5. utility | e. practical work, especially that which involves physical effort |
Выберите правильный вариант ответа.
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1. ……… describes individual consumers as rationally choosing the most preferred quantity of each good, given income, prices, tastes, etc.
a) supply theory b) market equilibrium c) demand theory
2. The point on the demand curve indicates ………. to consumers for a given customer good.
a) marginal utility b) supply c) perfect competition
3. The quantity of labour employed and the price of labour (the wage rate) depends on the . . .
a) purchasing power b) demand for labour c) income effect
4. The …………. describes how prices vary as a result of a balance between product availability and demand.
a) normal good b) demand for labour c) supply and demand model
5. Producers, for example business firms, are hypothesized to be ………….
a) market b) profit-maximizers c) consumers
Выберите из приведенных ниже слов пары однокоренных глаголов и существительных и переведите их на русский язык.
to fall, consumer, to stabilize, organization, demand, to sell, buyer, influence, to invest, to improve, consumption, fall, improvement, stabilization, to intervene, to organize, investment, seller, to consume, to buy, to demand, increase, to reduce, reduction, to influence, to increase, intervention
5. Переведите следующие предложения на русский язык, обращая внимание на причастные обороты:
1. In East-European countries consumers couldn't get goods, and factories couldn't buy inputs at prices held low by governments.
2. Governments intervene in economies controlling the supply of money, limiting monopolies and helping private industries.
3. An improvement in technology will increase the supply of a good, increasing the quantity supplied at each possible price.
4. Governments regulate economic activities imposing some restrictions.
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5. The governments can influence for whom goods are produced, taking income away from some people and giving it to others.
6. The high price for a good is the market mechanism telling suppliers it is now time to increase production.
7. The developing countries hope that the industrial countries will raise imports from the less developed countries imposing tariffs on imports from other industrial countries.
8. Income is money of all kinds coming in regularly to a person, family or organization.
9. Active money is money going from man to man and used by the people in buying and selling goods and services.
10. Reducing our imports, we decrease the exports of others.
11. At prices above equilibrium we have a situation known as excess supply, or surplus.
Выберите подходящее по смыслу слово из предлагаемых в скобках вариантов.
1. The fashion for miniskirt (increased/ reduced) the demand for textile materials.
2. Even in (some/the same) middle-income countries many people are very poor.
3. Government regulations sometimes (decrease/ impose) a change in (technology/quantity) that producers do not want to use.
4. Stabilization of prices is of great importance to industrial nations (as well as /as well) the Third World countries.
5. Freeing up (освобождение) prices leads to their (decrease/increase).
6. (Inferior/normal) goods are usually low-quality goods for which there are higher-quality (improvements/substitutes) sold at higher prices.
7. A decrease in (complement/input) prices makes the production less expensive.
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