# Экономический текст на английском языке 3000 знаков

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А активное сальдо торгового баланса на базе высоких нефтяных цен, которое помогало укреплять его лидерство на протяжении десяти с лишним лет, может исчезнуть. Thirdly, with a developed economy a level of life in the state rises.\
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Each of the fifty states of the USA has a constitution patterned after the federal Constitution, with its divisions of power: legislative, executive, and judicial. The affairs of the company are managed by the management board, subject to the supervision of the supervisory committee, to which it must report periodically and which can at any time require information or explanations. In developed economies the number of goods and services produced from resources is immense. Banks keep their reserves and other funds on deposit in a kind of checking account at their district bank. Practise the fluent reading and correct intonation: — Helölo, Tom! Every time somebody turns on the set, I go to the other room and read a book. No logical or moral necessity links partnerships with unlimited liability or corporations with limited liabil- ity. You have been looked for everywhere. The basic economic problem is often broken down into three questions. Economics will also help you to fulfill your responsibilities as a citizen in a democracy. The efficiency with which the fuel energy is converted into jet energy depends upon the compression ratio which, in turn, depends upon the flight speed. Translate the sentences: 1.

With a lower antici- pated probability of default, buyers are willing to offer higher prices for the bonds. Like the classical economists of old, he regards supply and demand as the most powerful and potentially beneficial economic forces.\
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**The ABC of economics (Основы экономики): Сборник текстов на английском языке** - » he exclaimed, «I thought you said admirals. They said they to work seven hours a day.\
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Английский язык для экономических специальностей English for economists Учебно-методическое пособие по английскому языку Автор: Г. Исаева Настоящее учебно-методическое пособие построено на традиционных принципах методики и предназначено для студентов заочных отделений экономических вузов и факультетов, специализирующихся в области маркетинга и менеджмента, а также для широкого круга специалистов-экономистов, изучающих английский язык. Основная цель данного пособия - сформировать у обучающихся умение читать и переводить оригинальную литературу по специальности и познакомить с вопросами управления и маркетинга в Англии и США. Тексты уроков подобраны из оригинальных источников. C ontents Unit 1 Grammar: 1. Глаголы to be, to have. Оборот there is, there are. Неопределенные местоимения much, many, few, little. Economics Unit 2 Grammar: 1. Порядок слов в английском повествовательном предложении. Имя существительное в общем падеже в функции определения 3. The market economy Unit 3 Grammar: 1. Эмфатический оборот it is was... Marketing Unit 4 Grammar: 1. Industrial management Unit 6 Grammar: 1. Подчинительные союзы и союзные слова. Distributing the product Text. Territorial and administrative division of government in the united kingdom Unit 7 Grammar: 1. Participle i present participle active. Безличные предложения с местоимением it. Особые случаи образования множественного числа существительных. This-these, that-those как заменители ранее стоящего существительного. How competition benefits us all. Competition in many markets: an example. Unit 9 Grammar: 1. Пассивные конструкции характерные для английского языка. Management and control of companies Unit 10 Grammar: 1. Инфинитив в функции определения и обстоятельства. The sources of business funds Unit 11 Grammar: 1. Объектный инфинитивный оборот the objective infinitive construction. Субъектный инфинитивный оборот the subjective infinitive construction. Partnership Unit 12 Grammar: 1. The federal reserve system Other bank services Unit 13 Grammar: 1. Small business in the usa: an s-corporation is not always best. Unit 14 Grammar: 1. Условные предложения conditional sentences. Taxes, taxes, taxes Appendix 1. States of the united states of america Appendix 2. Counties of the united kingdom of great britain and northern ireland Appendix 3. Administrative and territorial divisions of the russian federation Appendix 4. Глаголы to be, to have. Оборот there is, there are. Practise the fluent reading and correct intonation: ö Hello, John! Glad to ö meet you! Listen to the speaker; read and memorize the following words and phrases: 1. John Maynard Keynes - Джон Мейнард Кейнс. Economics Economics, social science concerned with the production, distribution, exchange, and consumption of goods and services. Economists focus on the way in which individuals, groups, business enterprises, and governments seek to achieve efficiently any economic objective they select. Other fields of study also contribute to this knowledge: Psychology and ethics try to explain how objectives are formed; history records changes in human objectives; sociology interprets human behavior in social contexts. Standard economics can be divided into two major fields. The first, price theory or microeconomics, explains how the interplay of supply and demand in competitive markets creates a multitude of individual prices, wage rates, profit margins, and rental changes. Microeconomics assumes that people behave rationally. Consumers try to spend their income in ways that give them as much pleasure as possible. As economists say, they maximize utility. For their part, entrepreneurs seek as much profit as they can extract from their operations. The second field, macroeconomics, deals with modern explanations of national income and employment. Macroeconomics dates from the book, The General Theory of Employment, Interest, and Money 1935 , by the British economist John Maynard Keynes. His explanation of prosperity and depression centers on the total or aggregate demand for goods and services by consumers, business investors, and governments. Because, according to Keynes, inadequate aggregate demand increases unemployment, the indicated cure is either more investment by businesses or more spending and consequently larger budget deficits by government. Exercises on the Text: 3. Give Russian equivalents to: social science; distribution of goods and services; to try to explain; sociology interprets human behavior; to create a multitude of individual prices; to spend their income; as much pleasure as possible; they maximize utility; for their part; to deal with modern explanation; prosperity and depression; demand for goods and services; business investors; according to Keynes; larger budget deficits. Answer the following questions: 1. On what problems do economists focus their attention? What do psychology and ethics try to explain? What does sociology interpret in social contexts? Into what fields can be standard economics divided? What does microeconomics explain? How do consumers try to spend their income? Do they maximize utility? What questions does the second field study? Who is the author of the book «The General Theory of Employment, Interest, and Money»? How does he explain prosperity and depression? Write these phrases in the possessive form, i. Give the comparative and superlative of the following: Example: high -higher - the highest; professional - more professional - the most professional. Translate the following into Russian: 1. There are, however, no «pure» market economies in the world today. Economists note that there is no limit to the amount or kinds of things that people want. There is, however, a limit to the resources. In addition to buyers and sellers, there are several other essential elements in a market economy. There are many buyers and sellers so that no individual or group can control prices. There are two ways to earn income: from your work and from the use of your wealth. Chose the right word to the words given in the first column: many goods much economists a lot of enterprises little knowledge few markets governments explanations time activities work 9. Translate into Russian: 1. Economists have two ways of looking at economics and economy. Macroeconomics is the study of the economy as a whole, microeconomics is the study of individual consumers and the business firm. Each factor of production has a place in our economic system, and each has a particular function. Price stability refers to times during which prices remain constant. A budget is a financial plan that summarizes income and expenditures over a period of time. Saving is one of the most important things that people do with their incomes. Economic forces also affect decisions in the world of business. The United States government also employs economists to study economic problems and to suggest ways to solve them. Consumers are people who use goods and services to satisfy their wants. Efficiency is a measure of how much we get for what we use. ¾ T T T ¾ I find television very educating. Every time somebody turns on the set, I go to the other room and read a book. Read the text and retell the contents in Russian: London London England , city in southeastern England, capital of Great Britain, at the head of the Thames estuary, west of its mouth on the North Sea. In popular and traditional usage, the term City of London, or the City, is applied only to a small area 2. The City of London and 32 surrounding boroughs form the Greater London metropolitan area, which has an area of 1579 sq km 610 sq mi. Government The London Government Act 1963 authorized the creation of a two-tiered government consisting of 32 borough councils and the Greater London Council. The borough councils are locally elected and are responsible for local functions. Until its abolition in 1986, the Greater London Council administered broad functions for the metropolitan area as a whole, such as overall planning, the coordination of transportation systems, and the management of parks. The council comprised 100 councilors, locally elected, and 15 aldermen, elected by the councilors. The historic Corporation of the City of London is equivalent in function to a borough council. Since the reign of King John in the 13 th century, citizens of the City of London have had the right to elect their own mayor. The corporation government is composed of the Lord mayor, who is elected annually by members of the livery companies guilds ; 25 aldermen, who are elected for life; and 153 council members, who are elected annually from 25 wards. From an Encyclopedia :1. Порядок слов в английском повествовательном предложении. Practise the fluent reading and correct intonation: Good ø bye! Listen to the speaker; read and memorize the following words and phrases: 1. The Market Economy A Market, or free enterprise economy is one in which the decisions of many individual buyers and sellers interact to determine the answers to the questions of What, How and Who. In addition to buyers and sellers, there are several other essential elements in a market economy. One of these is private property. By «private property» we mean the right of individuals and business firms to own the means of productions. Although markets exist in traditional and command economies, the major means of productions firms, factories, farms, mines, etc. That is, they are owned by groups of people or by the government. In a market economy the means of production are owned by private individuals. Private ownership gives people the incentive to use their property to produce things that will sell and earn them a profit. This desire to earn profit is a second ingredient in market economy. Often referred to as the profit motive, it provides the fuel that drives sellers to produce the things that buyers want, and at a price they are willing to pay. The profit motive also gives sellers the incentive to produce at the lowest possible cost. Because lower costs enable them to 1 increase their profit margins, the difference between cost and selling price, or 2 reduce prices to undersell during the competition, or 3 both. Economists often compare markets to polling booths. However, unlike the booths in which people vote for politicians, markets provide a kind of economic polling booth for buyers to cast their votes in the form of purchases for the goods and services they want. Producers who interpret the votes correctly by producing the things that buyers demand can earn profits. Those who interpret the voting incorrectly, producing too much or too little, or charging a price that is too high or too low, do not earn profits. In fact, they often lose money. Consumer votes can be a matter of life and death to business in a market economy. Exercises on the Text: 3. Give Russian equivalents to: the decisions of many individual buyers and sellers interact; essential elements; the right to own the means of production; to exist in traditional and command economies; publicly owned; the incentive to use their property; the desire to earn profits; often referred to; to drive sellers to produce the things; the lowest possible cost; to increase their profit margins; unlike the booth; to vote for politicians; to cast their votes; to interpret the voting incorrectly; too much or too little; to lose money; a matter of life and death to business. Answer the following questions: 1. What is a market, or free enterprise? Are there several other essential elements in a market economy? What do we mean by «private property»? Who own the major means of production? What does private ownership give people? What is the profit motive? Why does the profit motive give sellers the incentive to produce at the lowest possible cost? To what do economists often compare markets? What is the difference? When do producers lose money? Translate the following into Russian: 1. Формы притяжательных местоимений Число Лицо I форма зависимая II форма независимая 1-е my - мой, моя, мое, мои mine- мой, моя, мое, мои Един- 2-е your- твои, твоя, твое, твои yours- твой, твоя, твое, твои ствен- his- его his- его ное 3-е her- ее hers- ее its- его, ее о неодушевлен- its- его, ее ных предметах Множе 1-е our- наш, наша, наше, наши ours- наш, наша, наше, наши ствен- 2-е your- ваш, ваша, ваше, ваши yours- ваш, ваша, ваше, ваши ное 3-е their- их theirs- их 6. Put in the missing verbs and possessive forms: Pronoun Verb Possessive 1. I come from Russia... You come from Sweden... We come from Denmark... I come from Greece... They come from China... We come from England... Make ten questions, using these question words: Who? What is the difference? Read the text and retell the contents in Russian: Keynes Keynes, John Maynard, 1 st Baron Keynes of Tilton 1883-1946 , British economist. Keynes was born in Cambridge, England, and educated at Eton College and the University of Cambridge. He began his career in the India Office of the British government and wrote a highly regarded book, Indian Currency and Finance 1913. During World War I he worked in the treasury, which he represented at the Paris Peace Conference 1919. During the next decade he made a fortune speculating in international currencies, taught at Cambridge, and wrote Treatise on Probability 1921 , a mathematical work, and A Treatise on Money 1930. In the latter, he sought to explain why an economy operates so unevenly, with frequent cycles of booms and depressions. Keynes closely examined the problem of prolonged depression in his major work, The General Theory of Employment, Interest, and Money 1936. This book, which provided a theoretical defense for programs that were already being tried in Great Britain and by President Franklin D. Roosevelt in the U. It stated that unused savings prolonged economic stagnation and that business investment was spurred by new inventions, new markets, and other influences not related to the interest rate on savings. Keynes proposed that government spending must compensate for insufficient business investment in times of recession. In 1942 he was made a baron, and two years later he headed the British delegation to the United Nations Monetary and Financial Conference, the Bretton Woods Conference. There he promoted establishment of the International Bank for Reconstruction and Development and the International Monetary Fund. Эмфатический оборот it is was... Read the sentences given below. Listen to the speaker; read and memorize the following words and phrases: 1. Marketing Marketing, activities involved in getting goods from the producer to the consumer. The producer is responsible for the design and manufacture of goods. Early marketing techniques followed production and were responsible only for moving goods from the manufacturer to the point of final sale. Now, however, marketing is much more pervasive. In large corporations the marketing functions precede the manufacture of a product. They involve market research and product development, design, and testing. Exercises on the Text: 3. Give Russian equivalents to: Activities involved in getting goods; is responsible for the design; early marketing techniques; to the point of final stage; is much more pervasive; in large corporations; precede the manufacture of a product; testing; with regard to the availability of product; enhancing their satisfaction with a purchase; marketing management; regarding product lines; promotion; its function is primarily advisory; the marketing department; physical distribution; the profitable flow of goods. Compose the questions using the following words: 1. Form the Past Indefinite Tense of the following verbs: to involve, to be, to precede, to concentrate, to buy, to get, to make, to have, to select, to contribute, to try, to assume, to spend, to give, to increase. Put the verbs in brackets in the Past Indefinite Tense and translate the sentences: 1. Aristotle and Plato in ancient Greece to write about problems of wealth, property, and trade. The Romans to borrow their economic ideas from the Greeks and to show the same contempt for trade. In ancient and medieval times dire scarcity of resources to be common and to affect the lives of most human beings. In England, Parliament to pass a Statute of Monopolies 1624. The Second development to be the expansion of production that to follow the Industrial Revolution. Cartels to originate in Germany during the 1870s. As business to become more competitive, new and more complex corporate combinations to come on the scene. Put all possible questions to the sentence: 1. During World War II the government of Germany utilized domestic cartels to produce armaments. Translate into Russian paying attention to the emphatic construction «it is... It is the planners who decide what goods and services will be produced. Indeed, it is from the early 1970s, when détente began to take shape. Write in words these numbers: 11, 12, 13, 15, 17, 20, 30, 40. Use hundred, thousand, million with the words in brackets: 300 dollar ; 400 pound ; 10,000 rouble ; 500,000 woman ; 2,000,000 man ; 6,700 child ; 1,000 computer. Read the dates: March 8, 1991; June 22, 1941; May 9, 1945; April 12,1961; January 1, 2000. Translate English jokes: A: Did the play have a happy ending? B: Yes, everybody was happy when it ended. A: A telegram from George, dear. B: Well, did he pass the examination this time? A: No, but he is almost at the top of the list of those who failed. What ö date is it today? Not at ö all. It was warm ö yesterday. Listen to the speaker; read and memorize the following words and phrases: 1. The place to begin is with the product itself. A business must determine what kind of product potential customers want. Companies employ very complex market research techniques to find out. The product warranty card that you return after a purchase provides marketing information too. Sophisticated research mathematics applied to a sample of consumers can typify the rest of the consumers. If we can find out what a few want, we can assume the others in the group of population will want the same things. Deciding who should be in the sample is the problem. Researchers have very detailed formulas for constructing marketing samples. Another major part of marketing is price. Companies have to decide on a product price that will cover all costs and also return a profit. Included in costs are such fixed expenses as rent and insurance. Variable expenses must be anticipated too. Those include the costs of material and commissions. These costs are used to compute a break-even point - the point at which income from sales equals fixed and variable expenses. On one side of this point, the company will have a net loss and on the other side, a net profit. Promotion is a key part of marketing because it is the way business get their messages to consumers. Businesses would like to see steady growth rather than sudden surges in business. One function of promotion is to maintain a steady and growing demand. Promotions through advertising in the media, direct mailings or through personal contact are a few of the ways producers make their products known to consumers. Through advertising, businesses tell people what products are available. Advertising even gives them reasons to buy. The final part of marketing, the fourth «P», is place. For a product to be useful, it has to be in place when and where it is needed. That should seem obvious. To sell products, business must anticipate «when» and «where» consumers will buy them. A hot dog at a baseball game on a sunny afternoon is an example of excellent product placement. A lemonade stand in the winter is not. Hot dogs have less value after the game, and lemonade has more value in the summer. Exercises on the Text: 3. Give English equivalents to: Общее понятие маркетинга включает четыре момента; потенциальные покупатели; исследования по телефону, по почте; на уме покупателя; обследуемая группа покупателей; чего хотят немногие; очень подробные формулы; покрывать все издержки; такие постоянные затраты как рента и страхование; вычислить точку самоокупаемости; ключевая часть маркетинга; в средствах массовой информации; предприятия должны предвидеть. Ask questions for these answers work in pairs : 1. The total marketing concept involves four steps. They are product, price, promotion and place. Surveys by phone, mail, or personal interview can reveal it. The product warranty card provides marketing information too. Variable expenses must be anticipated too. A break-even point is the point at which income from sales equals fixed and variable expenses. Promotion is a key part of marketing. Advertising gives people reasons to buy products. To sell products, businesses must anticipate «when» and «where» consumers will buy them. Translate the following into Russian: The Major Marketing Functions Marketing Activity Description Gathering information Business firms collect information about the market to forecast potential sales Buying Before finished goods can be sold, they must be selected and purchased. Transporting Goods must be shipped to the place where they are sold. Selling Goods must be advertised, promoted and sold. Storing Business firms had more goods than they can sell in a single day. These must be stored until they are sold. Financing Cash or credit must be found to pay for the goods the business intends to sell. Standardizing and Grading «Standardizing» is establishing uniform specifications for a product or a service. «Grading» is classifying products by quality and size. Managing risk People in business risk loss if things fail to go as planned. Steps taken to limit these risks fall into this category. Write out these sentences putting the verb in brackets into the future tense: 1. The study of economics to help you to understand economic forces better. Cleaning up the river to require a major effort, and considerable expense. A change in the price of one item to result in a shift in the demand for a substitute. An increase in production costs to have the opposite effect - supply to decrease. As long as supply and demand remain unchanged, the equilibrium of market price to remain constant. Make the sentences a interrogative, b negative: 1. They will try to economize to get the most from what they have. Economics will also help you to fulfill your responsibilities as a citizen in a democracy. Economists will agree that unemployment is bad. Entrepreneurs will try to run their businesses to earn the greatest profits. Fill in the blanks with the verbs «can», «may», «must», «have to», «to be able to »: 1. Translate the following sentences paying attention to the different functions of the word «one». In fact one common definition of economics is «the study of how people make a living». The market price is the one at which goods and services will actually be exchanged for money. One of the main reasons people save their money is to earn interest. Advertising provides us with information about prices, recent improvements in certain goods and services, and the availability of new ones. The development of the socio-economic formations rises from the lower stage to the higher one. State the part of speech of the following words: management, speaker, production, economist, economical, economic, economics, national, technical, techniques, largely, product. Form nouns with the help of the suffixes: -ment: to manage, to agree, to govern, to employ, to invest, to develop. Service industries account for almost three-quarters of total employment; they include banking, insurance, the civil service, transportation, education, food and drink, printing and publishing, retailing, and numerous professional and custom services. Next in importance are manufacturing and engineering and the latter has allied industries; each of these two sectors accounts for approximately 10 percent of total employment. The production of precision instruments, computers, aircraft, automobiles, chemicals, and clothing, as well as the refining of petroleum, are all important. The central area of London is dominated by service employment and characterized by the localized concentration of various activities: banking and finance in the City, insurance and law in Holborn, government in Westminster, newspaper publishing in Fleet Street, medicine in Harley Street, tailoring in Savile Row, retail outlets in Bond and Oxford streets, and education in Bloomsbury. Industrial activity is important in the so-called Victorian Manufacturing Belt-a crescent-shaped band on the southern bank of the Thames River, extending northwest from the City and Southwark. Here, small-scale specialized production dominates. Providing the raw materials and access to markets is the extensive Port of London, the major docks of which are located just downstream from London Bridge. To the west of Central London are newer manufacturing areas such as Park Royal. Toward the periphery of Greater London and in the surrounding outer metropolitan area are more sophisticated and specialized industries, such as those manufacturing aircraft, computers, and electronic equipment. To the west of London, economic development has been stimulated by the presence of Heathrow International Airport, and to the south, by Gatwick International Airport. From an Encyclopedia : 1. Practise the intonation in the questions and the answers: Have you a ø warranty card? Had you a ø warranty card? Have you got a ø warranty card? Are you a ø student? Do you ø agree? Listen to the speaker; read and memorize the following words and phrases: 1. Industrial Management Industrial Management, in business, term used to describe the techniques and expertise of efficient organization, planning, direction, and control of the operations of a business. In the theory of industrial management, organization has two principal aspects. One relates to the establishment of so-called lines of responsibility, drawn usually in the form of an organization chart that designates the executives of the business, from the president to the foreperson or department head, and specifies the functions for which they are responsible. The other principal aspect relates to the development of a staff of qualified executives. Planning in industrial management has three principal aspects. One is the establishment of broad basic policies with respect to production; sales; the purchase of equipment, materials, and supplies; and accounting. The second aspect relates to the implementation of these policies by departments. The third relates to the establishment of standards of work in all departments. Direction is concerned primarily with supervision and guidance by the executive in authority; in this connection a distinction is generally made between top management, which is essentially administrative in nature, and operative management, which is concerned with the direct execution of policy. Control involves the use of records and reports to compare performance with the established standards for work. Industrial management as just defined dates from the latter part of the 19 th century. The techniques originally devised by Taylor were adopted by industrialists to other phases of business, including the employment of qualified workers, and wage incentive programs either to replace or to supplement the piecework system that had previously prevailed. Industrial management experts who succeeded Taylor have applied his techniques to a wider range of business problems. Among the leading successors are the Austrian-American management consultant and educator Peter Drucker and the American economist, writer, and diplomat John Kenneth Galbraith. Exercises on the Text: 3. Give English equivalents to: термин, используемый для описания; два главных аспекта; так называемый; которые определяют директоров предприятия; штат квалифицированных исполнителей; установление политики; закупка оборудования; уровни работы во всех отделах; в этой связи; высшее руководство; действующее руководство; управление; использование учетных документов и отчетов; заметный толчок; техника для анализа действий; была применена промышленниками; программы финансово-материального стимулирования; система сдельного труда; среди ведущих преемников; педагог. Ask questions to these answers work in pairs. Organization has two principal aspects. One relates to the establishment of so-called lines of responsibility. An organization chart designates the executives of the business. The third aspect relates to the establishment of standards of work in all departments. A distinction is made between top management and operative management. Control involves the use of records and reports. The American engineer Frederick Taylor. It was adopted to the employment of qualified workers, and wage incentive programs. Translate the following into Russian: Characteristics of Economic Markets Perfect Competition Monopolistic Competition Oligopoly Monopoly Numbers of Firms Many independent firms. None able to control the market. Many firms providing similar goods and services. A few large firms providing similar goods and services. A single large firm. Control Over Price None. Influence limited by the availability of substitutes. Often influenced by «price leader». Products uniform and equal quality. Products and services differentiated to meet the needs of specific markets. Significant for some products like automobiles. Little for standardized products like gasoline. Ease of Entry Relatively easy to enter or leave the market Relatively easy to enter or leave the market Difficult. Often requires large capital investment. Write down the following verbs in the form of Participle II: to go, to increase, to begin, to buy, to sell, to make, to play, to write, to bring, to specialize, to operate, to understand, to expand. Put the words in brackets in the Passive Voice: 1. Every society to face with the identical problem, the problem of scarcity. The need to chose to impose on us all by our income, wealth and ability to borrow. Individuals and families to limit by the size of their personal income, savings and ability to borrow. In a free market economy, prices to determine by the interaction of the forces of supply and demand. When two goods satisfy similar needs, they to describe as substitutes. Turn the following from Active Voice into Passive Voice: 1. Profits, savings and borrowing power limit business firms. Frederick Taylor provided a notable impetus to industrial management. Keynes wrote many books. The competitive system will determine business ethics. Great complexity of organization and administration characterize the operation of large business firms. Two or more persons own a business organization. Sir Joseph Binks gives Tom a small cheque. They gave Uncle Tom a cheque and a railway carriage. Translate the following sentences into Russian paying attention to the functions of Participle II: 1. Salaries refer to earnings paid on a weekly or monthly basis. The term «wage» typically refers to the earnings of workers paid by the hour or unit of production. Used in certain ways, wealth can earn income. Natural resources are the things provided by nature that go into the creation of goods and services. Nearly 90 percent of goods and services produced in the U. Shares are traded in organized markets such as the New York Stock Exchange. Express the following in Russian: 1. The more you know about the subject, the better career decisions you will be able to make. For their part, entrepreneurs seek as much profit as they can extract from their operations. As a rule, the more scarce something is the higher its price will be, and the fewer people will want to buy it. The higher the price, the greater the incentive to produce and sell the product. Form adjectives with the help of suffixes: -al: economic, nation, production, education, profession. Form adverbs with the help of the suffix «-ly»: economical, political, different, rapid, definite, historical, complete, formal, practical, particular. Read the text and retell the contents in Russian: William Gates Gates, William Henry, III 1955- , American business executive, chairman and chief executive officer of the Microsoft Corporation, born in Seattle, Washington. Gates cofounded Microsoft in 1975 with Paul Allen, his high school friend and partner in computer language development from 1967. Fascinated by computers by the age of 12, Gates had been involved with various programming projects throughout high school. While attending Harvard in 1975, Gates teamed with Allen to develop a version of the BASIC computer programming language for the MITS Altair, the first personal computer. This work on BASIC for the Altair led Gates to drop out of Harvard in 1977 to pursue full-time his vision of «a computer on every desk and in every home,» the idea behind the Microsoft Corporation. This transition began with the introduction of MS-DOS, the operating system for the new IBM Personal Computer in 1981. Gates also pushed Microsoft toward the introduction of application software such as the Microsoft Word word processing software for the IBM-PC. A key strategic move by Gates was to agree to develop application software for the Apple Macintosh prior to the release of the first Mac in 1984. This led to a strong position for Microsoft in applications that take advantage of the graphical user interface GUI. His willingness to bet on new technologies such as Microsoft Windows, Windows NT, and workgroup applications has paid off in keeping Microsoft at the forefront of computer hardware and software evolution. Practise the fluent reading and correct intonation: Exö cuse me, please. Why ö should you? Listen to the speaker; read and memorize the following words and phrases: 1. Among these are durable equipment-for example, computers, office equipment, industrial machinery and consumer specialties such as vacuum cleaners. The direct marketing of products such as cosmetics and household needs is very important. Direct marketing by mail has been expanded to virtually all types of products and services. Working people find it easy to shop in their leisure hours by catalog because catalogs generally contain extensive product information. For retailers, the use of catalogs makes it possible to do business considerably beyond their usual trading area and with a minimum of overhead. Also important are credit cards, which have made it relatively easy to purchase by mail or telephone even such high-priced items as appliances, electronic equipment, and cameras. Television is a potent tool in direct marketing because it facilitates the demonstration of products in use. Also carving its own niche is telephone marketing, called telemarketing, a technique used in selling to businesses as well as to consumers. Most consumer products, however, move from the manufacturer through agents to wholesalers and then to retailers, ultimately reaching the consumer. Wholesalers distribute goods in large quantities, usually to retailers, for resale. Some retail businesses have grown so large, however, that they have found it more profitable to bypass the wholesaler and deal directly with the manufacturers or their agents. Wholesalers first responded to this trend by adapting their operations so that they moved faster and called for a lower margin of profit. Retailing has undergone even more change. Supermarkets and discount stores have become commonplace not only for groceries but for products as diversified as medicines and gardening equipment. More recently, warehouse retailing has become a major means of retailing higher-priced consumer goods such as furniture, appliances, and electronic equipment. Chain stores-groups of stores with one ownership-and cooperative groups have also proliferated. Special types of retailing, for example, vending machines and convenience stores, have also developed to fill multiple needs. Exercises on the Text: 3. Give Russian equivalents to: direct sale from manufacturer to consumer; durable equipment; consumer specialties; household needs; direct marketing by mail; usual trading area; high-priced items; mail-order divisions; also carving its own niche; for resale; to call for a lower margin of profit; to undergo even more change; self-service;have drastically changed; warehouse retailing; higher-priced consumer goods; to fill multiple needs. Compose the questions, using the following words: 1. Grammar Exercises Active Voice Perfect Tenses have ParticipleII V 3 Time Markers Present Perfect have has built ¬¾´¾¾½¾¾® Past Perfect had asked ¬¾´¾¾´¾½¾® Future Perfect shall will have ¬¾½¾´¾¾´¾® 5. Have you ever Read the same in the 3 rd person singular. Translate the following sentences paying attention to the different usage of Perfect Tenses: 1. Economic monopolies have existed throughout much of human history. The success of specialized marketing developments has caused many older organizations to revise their operating methods. The Titanic had already gone down when another ship arrived. Some passengers had been in the icy water for hours when they were saved. When another ship arrived, about 1500 people had already lost their lives. Ecological concerns will have affected product design and marketing. By the end of the year the company will have signed this contract. Who will have finished first? How much will they have won? A manager went away on business. He left of things to be done. He is back now. Arrange a conversation between him and one of his employees. The list of things to be done: 1. Contact the joint-stock company P-A. Send a telex to Lamberton Robotics. Sign the contract for the delivery of equipment. Take part in the talks with the British customer. Have you telephoned Mr. When did you telephone him? I telephoned him last week. Use of the verb «let». Our teacher never let us speak Russian at English lessons. Let them know about it. Let the cat out. Let her speak English. Complete the sentences: 1. Let the small retailers... Translate the following sentences: 1. When he comes to the office he will call the company. We will clear up the point before he leaves. He walked slowly for he was not in a hurry. As there were no more questions the chairman thanked the reporter for his interesting report. They thought that the bell had rung. Form nouns with the help of the suffixes: -ant: to emigrate, to dominate, to consult, to participate, to account. Translate English jokes: A famous Hungarian physicist had just finished reading his scientific paper. It was the first time he had ever made a report in English. After he had finished an American physicist came up to him. «Say, in what language did you read your paper? » «Well, yes, of course. But why did you put in so many English words? Read the text and retell the contents in Russian Text. Territorial and Administrative Division of Government in the United Kingdom In Great Britain the county, or shire, is the principal subdivision of the country for political, administrative, judicial, and other purposes. Counties are used in England and Wales but have been replaced by other administrative units in Scotland and Northern Ireland. Before the Norman Conquest of the 11th century, the chief unit of local government in England was the shire, which had originated in the Saxon communities of the 5 th century. Each shire was ruled by an ealdorman alderman , but after the 11 th century his functions were taken over by the shire-reeve, or sheriff, who was appointed by the king. By the 14 th century a county court, composed of several justices of the peace, or magistrates, had developed to help the sheriff administer the county. Over the centuries these crown-appointed magistrates gradually became the primary administrators of counties. Each county also became the constituency for the elections of knights of the shire, or county members of Parliament. This system of county government, with centrally appointed justices of the peace holding legislative, judicial, and executive powers, became inadequate in the 19 th century as the suffrage was extended, government services expanded, and industrial cities continued to grow. To remedy this undemocratic system, the Local Government Act of 1888 established county councils, with members elected by local residents, to take over the legislative and executive duties of the magistrates. The act also replaced the historic counties with new administrative counties, which often had different boundaries. The act also created about 60 county boroughs; these were cities that were given county powers in order to better provide local government services. The Local Government Act of 1972 reorganized the county system again; 47 new counties contained all urban as well as rural areas in their boundaries, and each county was subdivided into several districts, which numbered almost 300 in all. A British county provides police and fire services, education, social-welfare services, public transport, traffic regulation, consumer protection, libraries, and some highways and parks. The county council is the general governing board of a county; it is a large body, with 50 to 100 popularly elected members, and much of its basic administrative work is delegated to committees. Outside the United Kingdom, the system of county government was adopted, with variations, in most of the countries settled from Britain. In Canada, however, the county system never became universal; where it exists, the county councils are generally much smaller than in England. New Zealand has had county councils since 1876. In Australia the administrative unit is generally called the shire, though the name county is used for larger areas. From the Encyclopaedia : 1. Participle I Present Participle Active. Practise the fluent reading and correct intonation: ø Well... By the ø way... As to ø me... The matter ø is that... On the ø one hand... On the ø other hand... Listen to the speaker; read and memorize the following words and phrases: 1. In manufacturing operations, production management includes responsibility for product and process design, planning and control issues involving capacity and quality, and organization and supervision of the workforce. The production manager must also choose the machines and methods of the company, first selecting the equipment and technology to be used in the manufacture of the product or service and then planning and controlling the methods and procedures for their use. The flexibility of the production process and the ability of workers to adapt to equipment and schedules are important issues in this phase of production management. The production manager's responsibility for materials includes the management of flow processes-both physical raw materials and information paperwork. The smoothness of resource movement and data flow is determined largely by the fundamental choices made in the design of the product and in the process to be used. The manager's, concern for money is explained by the importance of financing and asset utilization to most manufacturing organizations. A manager who allows excessive inventories to build up or who achieves level production and steady operation by sacrificing good customer service and timely delivery runs the risk that overinvestment or high current costs will wipe out any temporary competitive advantage that might have been obtained. Exercises on the Text: 3. Give English equivalents to: подобная по уровню и объему; человеческие ресурсы и управление финансовой деятельностью; вопросы, включающие производственные мощности и качество; ответственность за управление произ-водством; подавляющее большинство; «взаимоотношения с людьми»; методы и действия для их использования; гиб-кость производственного процесса; как физические, так и информационные; плавность движения ресурсов и посту-пления данных; временное конкурентное преимущество. Answer the following questions: 1. What is operations management? What does production management include in manufacturing operations? How must the production manager choose the machines and methods of the company? In what phase of production management the flexibility of the production process is an important issue? What manager runs the risk? Will high current costs wipe out any temporary competitive advantage? Grammar Exercises ing — forms noun adjective gerund participle I pricing managing delivering smb. Write down the following verbs in the form of Participle I. Translate the following sentences into Russian paying attention to the functions of Participle I: 1. Marketing concentrates primarily on the buyers, or consumers, determining their needs and desires, educating them, developing strategies to persuade them to buy. For retailers, the use of catalogs makes it possible to do business considerably beyond their usual trading area. The whole month I was working hard. We were auditing accounts of a joint venture. The State Tax Service in Russia is a new organization but its role is becoming very important because more and more new businesses are appearing in the country. The majority of corporations are small, differing little in their characteristics from other forms of business. An Italian delegation arrived yesterday. At 9 we were meeting the delegation at the airport, at 12 we were having lunch, at 2 we were discussing the contract. Those who interpret the voting incorrectly, producing too much or too little, or charging a price that is too low, do not earn profits. You phoned at 9. We were discussing our business plan at that time. Also carving its own niche is telephone marketing. Look at the pictures. Ask and answer the question as in the model: Model: A. Read the dialogue and make up your own dialogue: A. Look, Ann, is it cold outside? Образование множественного числа существительных греческого и латинского происхождения. Read the text and retell it in Russian: Science and Technology in Britain Since the first artificial splitting of the atom at Cambridge, in 1932, by Sir John Cockcroft and Dr. Walton, Britain's nuclear scientists have made continuous progress in harnessing atomic energy. Today eight commercial nuclear power stations are supplying electricity for factories and homes and others are being built. Some of Britain's top scientists are engaged in space research on projects such as upper atmosphere probes with British-built rockets at Woomera, Australia, and inwork on satellite communications. Others are making vital discoveries in the laboratory into the very nature of life itself. Britain is pre-eminent in radio astronomy and in many fields of electronics including miniaturisation. Much basic work was done in Britain on electronic computers. British advances in medicine include penicillin and other antibiotics, such as cephalosporins, heart-lung machines, a new anti-viral agent, Interferon, of great potential value and many other important developments in the treatment of disease. In the present century - J. Thomson, Lord Rutherford and Sir James Chadwick basic work on nuclear science , Gowland Hopkins the existence of vitamins , Sir William Bragg X-ray analysis , and many others. Medicine owes much to such pioneers as William Harvey circulation of the blood , Edward Jenner vaccination , Joseph Lister antiseptics. Sir Ronald Ross who proved the relation between malaria and mosquitoes. Since 1945 there have been 27 British scientists who have received international recognition for their work by gaining Nobel awards. There are over 200 learned scientific societies in Britain. In ten years Britain has doubled her total number of qualified scientists. Translate English jokes: Which of You Three? Is that Ted Wells? But which of three is speaking? ¾ T T T ¾ Mother: Well, what is Mary doing? Jane: Well, if the ice is as thick as she thinks, she is skating, but if the ice is as thin as I think, she is swimming. This-these, that-those как заменители ранее стоящего существительного. Listen to the speaker; read and memorize the following words and phrases: 1. How Competition Benefits Us All. In a competitive market, producers constantly strive to reduce their production costs as a way to increase profits. The increased efficiency that allows them to reduce their costs also enables producers to sell their goods at a lower price. Thus, by promoting efficiency, competition leads to lower prices. Competition also motivates producers to improve the quality and increase the variety of goods and services. Consumers soon learn which brand offers the best value, and that firm will earn greater profits than its competitors. Similarly, producers in a competitive market must constantly look for new and attractive goods and services to win a larger share of the market. And since we are all consumers, it follows that competition benefits us all. Competition in Many Markets: An Example. On weekends during the school year and in the summer, David Scott works in a small local hardware store. When he began his job, as a sophomore, he was a stock clerk, and he thought himself lucky to have any job. Each year there had been a lot of competition for jobs in his city, especially in May and June when college students entered the local job market. In the spring of his senior year David decided to be more selective about where he worked and how much he earned. He decided to ask his boss for a raise to become a supervisor of the younger employees at the store. He told his boss that since he learned the computer-assisted inventory and ordering system and other special skills he was more valuable, and should be paid accordingly. He hinted that he might seek employment elsewhere. Another store in town was advertising for someone with his skills. Since starting his business, he had been in competition with other buyers and sellers in the marketplace. He competed with other buyers when he purchased the land for his store. He competed with other borrowers when he applied for his bank loan. He competed every week for the best deals on the goods he bought from his wholesalers. Jay knew that he also had to compete for customers with other hardware stores. One of his major expenses was labor. He had to keep his labor costs down to meet his other expenses and earn a profit. He knew that David would cost him more, but he decided to pay him the higher wage because David had acquired skills that made him more productive. David was also free to sell his labor somewhere else. He could have competed with others for another job. From the newspaper ad he knew at least one other job was available. Maybe there were others. He wondered whether he would get the raise and promotion if there were lots of people who could do the job. In their own ways David and Jay were both trying to get what each thought would be best. Profit Motive and Competition. Competition drives Jay Richards to do what he can to reduce costs and increase sales in order to increase profits. Of course, his competitors will be doing this too. They also want to earn the greatest profits. Exercises on the Text: 3. Give English equivalents to: производители пытаются сократить издержки производства; дает возможность производителям продавать свои товары; путем повышения эффективности; конкуренция побуждает производителей; эта фирма получит большую прибыль; искать новые и привлекательные товары и услуги; конкуренция приносит пользу всем нам. Ask questions for these answers work in pairs : 1. David Scott usually works on weekends during the school year in summer. He was a stock clerk. It was in May and June because college students entered the local job market. He was going to become a supervisor of the younger employees at the store. He learned the computer-assisted inventory and ordering system and other special things. Another store in town was advertising for someone with his skills. He had established the small hardware store two years earlier. He had been in competition with other buyers and sellers. When he purchased the land for his store. He competed with other borrowers. He knew that he also had to compete for customers. Because David had acquired skills that made him more productive. Combine the words into sentences. Translate them into Russian. I hope your friend will come and see us on Sunday. This statistician thinks he will get the latest data. My friend is sure his profession is better than mine. My friend was sure... I think they televise international economic events. The manager believes that the work was done thoroughly. Mother was sure that her son made good progress at the institute. I am happy they call me up now and then. Translate the following sentences paying attention to the Sequence of Tenses: 1. Olegov where he lived. He said that he lived in Moscow. He told me that he worked at a large plant and described where the plant was. I told him that I knew the plant because I had worked there for about two years. Olegov asked me if I knew the economists working at the plant. I told him that I knew most of them. He told me that the plant had greatly increased its production and was producing almost three times more goods than four years ago. The other day the manager was asked if he would introduce the new machine constructed by one of the workers with the help of the engineers. He answered that he would do it as soon as the tests were completed. Indefinite Continuous Perfect Prefect Continuous Главное предло-жение write am writing пишет сейчас have written написал уже have been writing пишет уже сейчас Present ¯ ¯ ¯ ¯ Past He said that wrote пишет was writing писал вчера в 7 часов had written написал вчера к 7 часам had been writing писал вчера уже 3 часа, когда... Future ¯ ¯ ¯ ¯ would write would be writing would have written would have been writing Future-in-the-Past При обращении прямой речи в косвенную происходит следующая замена наречий места, времени и указательных местоимений. » He asks me where I live. He asked her, «Where does your father work? » He asked her where her father worked. He asked me, «Where did your father work? » He asked me where my father had worked. Direct Speech Indirect Speech He asks me, «Are you a worker? » He asks me if I am a worker. He asked me, «Are you a worker? » He asked me if I was a worker. He asked her, «Were you a student? » He asked her if she had been a student. Put the verbs in brackets into their correct forms: 1. I thought that you to arrive at some decision. I believed that a long-term loan to be absolutely necessary for that program. They said they to work seven hours a day. Did he say that there to be a lot of problems with this agreement? The manager said that we to need to reduce the amount of corporate income tax. Change the direct speech into indirect speech: 1. The manager asked, «Does this project require long term financing? The director asked, «Are we repaying debts in due time? He asked, «Did this debt carry interest? The head of the company asked the Board of Directors, «Are we able to repay the loan? The manager asked the customer, «Can you wait a little longer? The customer asked, «Were the terms specified in any agreement? Translate the following sentences: 1. Markets provide a kind of economic polling booth for buyers to cost their votes for the goods and services they want. Promotion is a key part of marketing because it is the way business get their messages to consumers. Economists focus on the way in which individuals, groups, enterprises and governments seek to achieve efficiently any economic objective they select. Translate the sentences: 1. The railways of Russia are much longer than those of England. The climate of the Crimea is warmer then that of the Ural. Our resources of oil are greater than those of Poland. The rivers in the West of our country are not so long as those in the Eastern part. Try to understand the meaning of suffixes: Example: watch N - watchful A наблюдение - наблюдательный life N - lifeless A жизнь - безжизненный 1. The young candidate for admission to the navy was being given a test to determine his general education. One of the questions puts to him was: «What kind of animals eat grass? » The young man fidgeted and looked out of the window, but apparently could think of no answer. «Come, come», said the admiral who was examining him, «Surely, you can answer a simple question like that: what kinds of animals eat grass? » The boy brightened up. » he exclaimed, «I thought you said admirals. Practise the fluent reading and correct intonation: — Helölo, Tom! Here you ø are at last. Mind stress and pronunciation in the following nouns and verbs. Listen to the speaker; read and memorize the following words and phrases: 1. Management and Control of Companies The simplest form of management is the partnership. In Anglo-American common-law and European civil-law countries, every partner is entitled to take part in the management of the firm's business, unless he is a limited partner; however, a partnership agreement may provide that an ordinary partner shall not participate in management, in which case he is a dormant partner but is still personally liable for the debts and obligations incurred by the other managing partners. The management structure of companies or corporations is more complex. The simplest is that envisaged by English, Belgian, Italian, and Scandinavian law, by which the shareholders of the company periodically elect a board of directors who collectively manage the company's affairs and reach decisions by a majority vote. Under this regime it is common for a managing director directeur général, direttore generale to be appointed, often with one or more assistant managing directors, and for the board of directors to authorize them to enter into all transactions needed for carrying on the company's business, subject only to the general supervision of the board and to its approval of particularly important measures, such as issuing shares or bonds or borrowing. By the laws of most states it is obligatory for the board of directors elected periodically by the shareholders to appoint certain executive officers, such as the president, vice president, treasurer, and secretary. The latter two have no management powers and fulfill the administrative functions that in an English company are the concern of its secretary; but the president and in his absence the vice president have by law or by delegation from the board of directors the same full powers of day-to-day management as are exercised in practice by an English managing director. The most complex management structures are those provided for public companies under German and French law. The management of private companies under these systems is confided to one or more managers gérants, Geschäftsführer who have the same powers as managing directors. In the case of public companies, however, German law imposes a two-tier structure, the lower tier consisting of a supervisory committee Aufsichtsrat whose members are elected periodically by the shareholders and the employees of the company in the proportion of two-thirds shareholder representatives and one-third employee representatives except in the case of mining and steel companies where shareholders and employees are equally represented and the upper tier consisting of a management board Vorstand comprising one or more persons appointed by the supervisory committee but not from its own number. The affairs of the company are managed by the management board, subject to the supervision of the supervisory committee, to which it must report periodically and which can at any time require information or explanations. The supervisory committee is forbidden to undertake the management of the company itself, but the company's constitution may require its approval for particular transactions, such as borrowing or the establishment of branches overseas, and by law it is the supervisory committee that fixes the remuneration of the managers and has power to dismiss them. The French management structure for public companies offers two alternatives. The similarity to the German pattern is obvious. Dutch and Italian public companies tend to follow the German pattern of management, although it is not expressly sanctioned by the law of those countries. The Dutch commissarissen and the Italian sindaci, appointed by the shareholders, have taken over the task of supervising the directors and reporting on the wisdom and efficiency of their management to the shareholders. Exercises on the Text: 4. Ask questions for these answers work in pairs : 1. The management structure of companies or corporations is more complex. The company periodically elects a board of directors. They reach decisions by a majority vote. Particularly important measures are issuing shares or bonds or borrowing. The board of directors appoints certain executive officers. The treasurer and secretary fulfill the administrative functions. The most complex management structures are in Germany and France. It is confided to one or more managers. German law imposes a two-tier structure in the case of public companies. The affairs of the company are managed by the management board. It must report to the supervisory committee. The supervisory committee is forbidden to undertake the management of the company itself. It fixes the remuneration of the managers. The French management structure offers two alternatives. A board of directors «is vested with the widest powers to act on behalt of the company». They have taken over the task of supervising the directors. Read, translate and analyze the scheme: Organization of a Corporation Stockholders Board of Directors President Vice President Vice President Department Head Department Head Department Head Department Head Employees Employees Employees Employees III. State the tense and voice form of the verbs: can be divided; are owned; will be used; was provided; has been expanded; is made; might have been obtained; shall be asked; is being done; have been translated; should be called; were being built; was followed; had been closed; will have been helped; would have been called. Translate the sentences into Russian: 1. You will be laughed at. I hope my work will be approved of. Our professor is always attentively listened to. In producing these things the new synthetic material has been made use of. His words were not taken notice of. Will the results of our work be referred to by? The proposal was objected to by. She has always been well spoken of. All the new data have been looked through with great attention. Where have you been? You have been looked for everywhere. Give the corresponding passive construction: 1. They will insist on your arrival. They told us very interesting news. They do not allow people to own this plot of land. They asked me to take part in this conference, but I refused. This boy told a lie once, therefore nobody believes him now. They speak much of every new achievement in computer programmes. Nobody wondered at the excellent results of this business enterprise. Have you sent for the managing director? They gave us all necessary information. I looked for the warranty card everywhere, but I could not find it anywhere. This executive officer took great care of the advertising of their products. Translate the following into Russian: 1. Since the beginning of that extraordinary era of economic progress ushered in by the Industrial Revolution, old ways of conducting business have been modified, and new forms of business organization have been introduced. Unless an activity is specifically prohibited by law, no line of business is closed to an owner. Unless a limited partnership has been established, all parties equally share the burden of loss and debts. Some products are marketed most effectively by direct sale from manufacturer to consumer. Simple transactions are completed by clerks. Displays must be supplied and set up, and cooperative advertising programs may be worked out. The production plan must be made to meet fluctuating market demands. Workers must be hired, trained, and assigned in synchronization with the changing production processes and schedules. Commodity analysis studies the ways in which a product or product group is brought to market. Define the form of the Infinitive: to manage; to be informed; to have been over; to be improving; to have been entering; to be investigated; must be raining; shall discuss; to have been taken. Read the text and retell it in Russian: Paul Samuelson 1915- And Milton Friedman 1912- Two Views of the Proper Role of Government in the Economy Paul Samuelson and Milton Friedman are two of America's most distinguished economists. In recognition of their achievements, Samuelson was awarded the Nobel Prize in Economics in 1970 and Friedman in 1976. Both spent most of their professional lives on the faculty of major universities Samuelson at the Massachusetts Institute of Technology, and Friedman at the University of Chicago. Given their similarities, one would think that the two would also hold similar views on economic issues. Nothing could be further from the truth. And, some of their sharpest differences center on the question of what ought to be the proper role of government in the economy. Classical economists in the tradition of Adam Smith had long recognized the need for government to provide goods and services that would not or could not be provided by the private sector like national defense. But they urged that this participation be kept to a minimum. But Samuelson argued that too many of the problems the classical economists wanted to leave to the marketplace were not subject to its influence. These externalities, affecting things like public health, education, and environmental pollution, were not subject to the laws of supply and demand. Consequently, it was up to government to establish goals for the economy and use its powers to achieve them. Milton Friedman sees things differently. Like the classical economists of old, he regards supply and demand as the most powerful and potentially beneficial economic forces. Whereas Samuelson endorses minimum wage laws as a means of helping workers at the bottom of the income ladder, Friedman would argue that by adding to unemployment, they harm the very people they were designed to help. That is, he explains, by increasing labor costs, minimum wage laws make it too expensive for many firms to hire low-wage workers. As a result, those who might otherwise be employed are laid off. On the one hand, Samuelson endorses the concept of government-sponsored programs such as public housing and food stamps as a means of reducing poverty. Friedman, on the other hand, would prefer to give the poor additional income and allow them to use the funds to solve their problems without government interference. The negative income tax would apply a sliding scale of payments to those whose income from work fell below a stated minimum. Practise the fluent reading and correct intonation: Asking the Way. In ø fact, in the opposite diörection. The Sources of Business Funds In many ways, money is to business what water is to plants. Plants need water to begin life, to survive and to grow. Similarly, firms need money to begin operations, to meet their day-to-day expenses and to expand. Most of the money used by business comes from the sale of its products and services. Since these funds come from within the firm they are described as internal funds. The rest must come from outside, or external sources. As a firm sells its products or services, it receives money, which it uses to meet its expenses. One of these expenses, depreciation, represents the cost of replacing assets like tools, machinery, and buildings that wear out. Typically, businesses use internal funds to cover the cost of depreciation. The funds that remain after paying expenses are a firm's profits or earnings. Although the owners or stockholders could take it all for themselves, in most instances some portion of the profits will be retained by the business. About 60 to 70 percent of a business firm's financing come from its internal sources. Sales do not remain constant from one season, or month or week to the next. There are times when more money comes in to a business than is needed to pay its bills. Similarly, at other times there is not enough money coming in to cover operating costs. When this happens, there are only four things that the firm can do: · dip into savings, · borrow, · sell shares of stock if it is a corporation or seek additional capital from the owners if it is a partnership or proprietorship , · reduce spending. Exercises on the Text: 3. Give English equivalents to: во многих случаях; чтобы покрыть каждодневные расходы; большая часть денег; остальные должны исходить извне; поскольку фирма продает свою продукцию или услуги; чтобы покрыть издержки за амортизацию; в большинстве примеров; выделять на амортизацию; они известны как внутренние фонды; бывают времена; когда это происходит; продать долю в акционерном капитале. Complete as in the text and translate into Russian: 1. In many ways, money is to business what... Similarly, firms need money... The rest must come from outline, or... As a firm sells its products or services, it receives money which it uses... Typically, business use internal funds... The funds that remain after paying expenses are... There are times when more money comes in to a business than... Similarly, at other times there is not enough money coming in... Sum up what the text says about: money is to business; the sources of coming money from; the usage of internal funds the four things that the firm can do III. Grammar Exercises Подлежащее 1. To answer is not easy Отвечать... To live is to create. We are to create... Science teaches you to create. He was the first to answer this question. To answer this question you are to know the subject well. In order to work here you are to be an experienced specialist Для того, чтобы... State the forms and functions of the infinitive. Translate the following: 1. Steel output is to go up in the next years. To prolong this discussion is to waste time. I only want to be given my chance. Does this mean that to think is the same thing as to utter words? This record, one may assume, is to serve some subsequent purpose. To move in space calls for quite new concepts of energy. He linked to be looked upon as businessman. Then an incident occurred to disturb the monotony of life. I have turned aside to discuss these matters. Translate the following into Russian paying attention to the Infinitive as an attribute: 1. There is one more phenomenon to be involved into this solution. The traditional role of science is to make people healthy and the world a brighter place to live in. The Sun is the first object to be studied by rocket astronomy. All the attempts to confirm this suggestion have failed. She gave him a list of a few books to be read. I was present at an experiment - perhaps, the thousandth to have taken place. Translate the following into Russian paying attention to the Infinitive as an adverbal modifier: 1. Laws were not made to be broken, laws were made to stay within. Sometimes you retreat in order to advance. The foreperson was too busy to see anyone. He was so weak as to unable to work. The executives found the problem too difficult to solve. In these areas the land is too unproductive to support a flourishing agricultural population. The results of voting are enough to generate discussion on the pages of learned periodicals. Read and translate the dialogue: Jay Richards is consulting his financial adviser: Jay: As a matter of fact, I'm thinking of starting an automobile agency. Could you tell me how I should finance this business? If you've got some money of your own, you can operate on a cash basis: no credit given, no money borrowed. But a firm of this kind is usually a short lived one. Jay: Shall I get credit from the bank then? You may just as well go to any insurance company and they will be only glad to help you, or at least they will try to show it. Jay: Suppose I get their money to construct a building. But I'll need a lot more money to pay for the tools and equipment. Adv: Oh, that's not a problem either. The car manufacturers will pay for it on a credit basis. And of course, you will get a loan from the bank to pay other expenses. Jay: But that will mean a lot of money! How shall I pay it back? The more money you invest the more rapid the progress you will make. You will certainly have idle money very soon. But do not let it stay idle. Invest and get profit out of it. Thanks for the advice. I'll call in later for more details, if you don't mind. Adv: Of course I don't. I'll be glad to see you any time of the day. Form abstract nouns with the help of given suffixes: 1. Chose antonyms: payment - a. Read the text and retell it in Russian: Birmingham Birmingham England , city, seat of the metropolitan county of West Midlands, central England. In 1974 the former municipal borough of Sutton Coldfield was incorporated into the city. A major industrial center, Birmingham is the second largest city in Great Britain. It is the hub of the British metal goods industry and is served by a network of railroads and highways. Among the principal metal products manufactured are motor-vehicle parts, machine tools, brassware, household utensils, sporting guns, and jewelry. Other important manufactures include electrical equipment, glass, rubber products, and chemicals. The city is located in an important coal-mining region. Birmingham is the seat of the University of Birmingham 1900 , the University of Aston in Birmingham 1895 , the University of Central England in Birmingham 1992, formerly a polytechnic college , and several technical schools. Cultural facilities include the large Birmingham Museums and Art Gallery 1867 , the Museum of Science and Industry, the City of Birmingham Symphony Orchestra, and the Birmingham Repertory Theatre 1913. The city's Municipal Bank opened 1916 is the only one of its kind in Great Britain. Birmingham churches include Saint Philip's Cathedral 1715 , Saint Martin's Parish Church in the Bull Ring 13th century , and the Roman Catholic Saint Chad's Cathedral 1841. Other notable buildings are the neoclassical Town Hall 1834 , the Renaissance-style Council House 1881 , and the modern Bull Ring Shopping Centre. Heavily bombed during World War II, the city has undergone extensive rebuilding. Population 1981 1,006,908; 1991 preliminary 934,900. Объектный инфинитивный оборот The Objective Infinitive Construction. Субъектный инфинитивный оборот The Subjective Infinitive Construction. Listen to the speaker; read and memorize the following words and phrases: 1. Partnership Partnership, in law, term applied to an association of two or more persons who have agreed to combine their labor, property, and skill, or some or all of them, for the purpose of engaging in lawful business and sharing profits and losses between them; in this definition the term business includes every trade, occupation, and profession. The parties forming such an association are known as partners. Partners may adopt a fictitious name or use a real family name. The agreement to form a partnership is known as a partnership contract, the most important provision of which spells out the manner in which profits are to be distributed. A partnership can be formed only by contract; the Statute of Frauds requires the agreement to be in writing if the term exceeds one year; failure to comply results in a partnership at will. Any number of persons may contract to form a partnership, and firms of partners may enter into partnership with one another. By contrast, in most states, a corporation has no power to enter into a partnership unless such power is expressly given in the corporate charter. New members may be admitted into an existing partnership only with the consent of all the partners. The agreement of partnership generally is for a definite term of years; if no duration is specified, it is said to be a partnership at will and can be terminated at any time by any partner. By agreement of the members, a partnership may be dissolved or terminated and the terms of the partnership agreement modified at any time. Death or bankruptcy of a partner, the insanity or misconduct of a partner, and the end of the period fixed for the duration of the partnership also operate to terminate the partnership. A partner acts as an agent of the firm in the conduct of its business. Authority to act depends not only on the express powers given to a partner by the partnership agreement, but also on the implied powers resulting from the partnership relation and the nature of the business conducted. In the case of a partnership formed to conduct a wholesale or retail business, for example, a partner has implied power to borrow money for trade purposes, to buy on cash or credit, to make contracts and negotiable instruments to hire employees, to pay firm debts and sell or mortgage property for that purpose and to receive payment of debts owed the firm. A partner must, however, exercise the highest degree of good faith in all dealings with the other partners, devote time and attention to the partnership business, and must account to the other partners for any secret profits made in the conduct of the partnership business. The liability of a partner for partnership debts is said to be unlimited, except when the partner is a limited one in a limited partnership organized in accordance with the provisions of a state statute permitting such limitation of liability. Exercises on the Text: 3. Give English equivalents to: термин, касающийся объединения двух или более лиц; термин деятельность бизнес включает любое ремесло, занятие или профессию; фиктивное название; заполнение сертификата товарищества; означает способ; если срок превышает один год; корпорация не имеет права вступать в товарищество; корпоративный устав; если не указана продолжительность; в любое время любым партнером; умопомешательство или дурное поведение партнера; осуществление своей деятельности; характер осуществляемой деятельности; партнер приобрел право занимать деньги для торговых целей; условия договоров для найма служащих; уделять время и внимание; в соответствии с законом штата. Complete as in the text and translate into Russian: 1. The parties forming such an association... Partners may adopt a fictitious name or use... A partnership can be formed only... New members may be admitted into an existing partnership only with... A partner acts as an agent to the firm in the conduct... To buy on cash or credit? To make contracts and negotiable instruments to hire employees? The liability of partner for partnership debts is said to be unlimited, except when partner is a limited one in a limited partnership... Using the following scheme answer the questions: 1. How many departments are there at the company? How many managers do work at the company? What is in your opinion the most important department? Are there any overseas branches? Grammar Exercises V + действ. He considers the workers them to do it. Он считает, что рабочие они сделают это. It enabled the workers them to do it. Это заставило рабочих их сделать это. Придаточным дополнительным предложением с союзами что, чтобы, как. The workers they are considered to do it. Считают, что рабочие они сделают это. He appeared to be a brave man. Он, как оказалось, храбрый человек. This is likely to be the truth. Express the following using simple sentences with Complex Object: Example: I see how this woman goes to the factory every day. I see this woman go to the factory every day. I saw how the director explained the details of the plan. We heard how they spoke about their Institute. The manager watches how the employees enter the office. I heard how the workers discussed the problems they had to solve to increase the output. We saw how they used the equipment we sent them last month. I heard how the engineer explained the new methods of production. Fill in the blanks with one of the following verbs in the form of the Infinitive: arrive, cry, do, explain, go, get, hear, know. It was a very sad film. What do you think about my problem? What do you advise me...? Express the following using simple sentences with Complex Subject: 1. It is known that new economic theory is tested by practice. It seems that this approach ignores the objective conditions. It is said that you know the data very well. It is understood that the seller will help us to choose the necessary goods. It is known that the first reference to cotton has been made 2,500 years ago. It is believed that the wage incentive program will be adopted in May. Transform the sentences using Complex Subject and the words in brackets: Example: He has lost weight seem. He seems to lose weight. You know a lot of our customers seem. Our product line is getting better appear. That car has broken down appear. Our executing officer forgets things tend. They have solved the problem of variable expenses claim. The situation in this warehouse is more difficult than we thought seem. Translate into Russian: 1. If producers expect prices to increase in the future, they may increase their production. When a budget has expenses that exactly equal income, it is said to be balanced. When proposed expenses are greater than expected income, the budget is said to have a deficit. The proportional tax seems to be fair because everyone pays the same rate. When dollar values are down, overseas sales are likely to increase. Sellers in each country expect to be paid in their own currency for the goods they sell to other countries. The management of the firm wants them to report about the results or their negotiations. Such times of inflation and deflation are likely to create hardships for many sectors of the economy. Overall employment in the industry is sure to decline as small farms are consolidated into large farms and technology further reduces the need for farm labour. Give the meaning of the following words: to employ, employee, employer, employment, unemployment, employed. Read the text and retell it in Russian: The United States of America After its 200th birthday the United States of America still holds the leading position in the western world. The United States lies in the central part of the North American Continent between the two oceans: the Atlantic Ocean to the East and the Pacific Ocean to the West. Friendly Canada to the north and friendly Mexico to the south are the only countries bordering it. The USA consists of three separate parts. They are the Hawaiian Islands, situated in the central part of the North American continent of the Pacific Ocean, Alaska separated by the Canadian territory and the rest major part of the USA. The states differ very much in size, population and economic development. There are many big cities and towns in the USA: New York, San Francisco, Washington, Chicago, Los Angeles are the biggest of them. The United States of America is a parlamentary republic. The government is divided into three branches: legislative the US Congress , executive the President and his Administration and judicial the US Supreme Court. The US President is both head of state and government. He is elected for a four-year term. Presidential elections are held every leap year on first Tuesday after first Monday in November. The President is assisted by Secretaries who are the heads of the executive departments. The Supreme Court consists of Chief Justice and eight Associate Justices who are appointed for life. It is supposed to decide whether a law of the Congress or an executive order of the President is constitutional or not. The form of US government is based on the Constitution of September 17, 1787, adopted after the War of Independence. In December 1791, the Congress adopted ten amendments to the Constitution, known as the Bill of Rights. The latter enumerated what the government controlled by the oligarchy was not going to be allowed to do, which was, of couse, an important democratic gain for people. The Congress of the United States is composed of two houses, the Senate and the House of Representatives. The Senate represents the states and the House represents the population according to its distribution among the states. All states have electoral requirements of the same nature. First of all they are residence requirements. Through its power over the purse, the US Congress can control much that relates to foreign policy, also it is a governmental body that determines taxation. Each of the fifty states of the USA has a constitution patterned after the federal Constitution, with its divisions of power: legislative, executive, and judicial. Listen to the speaker; read and memorize the following words and phrases: 1. The Federal Reserve System The Federal Reserve System, or the Fed as it is often called, was created by an act of Congress in 1913. The Board of Governors establishes policies for the system. It consists of seven persons appointed by the President for 14-year terms. The Federal Reserve System is built around 12 geographic districts. District Federal Reserve banks supervise banking in each of these areas. The Open Market Committee is made up of the seven members of the Board of Governors and presidents of five of the district banks. It is comprised of 12 prominent commercial bankers, one selected from each district. Provides banking services for financial institutions. The Fed provides the kinds of services for banks that banks provide for public. The Federal Reserve Banks hold the reserves of the member banks, i. The FR Banks supply the member banks with currency if necessary and act to them as lenders by rediscounting bills. The Board determines the reserve requirements of the commercial banks. The Board too really determines discount rates. The Board discount rate corresponds in nature to the English Bank rate, though the Federal Reserve Banks do not always have the same discount rate. Banks keep their reserves and other funds on deposit in a kind of checking account at their district bank. Financial institutions, like most businesses must borrow from time to time. When this happens they can go to the Fed for a loan. Banker to the Federal Government. The Federal Reserve System, along with a number of other agencies, is charged with establishing the rules of behaviour for the banking system in general, and its individual institutions in particular. The purpose of these rules is to ensure the safety and soundness of the agencies that handle our funds. Managers the supply of money and credit. One of the principal responsibilities of the Fed is to see what the nation needs. In addition to the Controller of the Currency and the FDIC Federal Deposit Insurance Corporation , the Federal Reserve supervises nationally chartered and state-chartered banks and state banking agencies. All national banks must be members of the Federal Reserve System. Incorporated state banks including commercial banks, mutual savings banks, trust companies, and industrial banks may also join the System. Incorporated banks are those which have a charter from the state to act as an individual. Mutual savings banks are savings banks owned by their depositors. Industrial banks make loans for the purchase or manufacture of industrial products. Exercises on the Text: 3. Answer the following questions: 1. What is the Fed? When was the Fed created? What is the structure of the Fed? What are the main functions of the Board of Governors? How many Reserve Districts are there in the U. What is the primary responsibility of the Open Market Committee? What are the main roles of the Fed? How does the FR Banks work with the member banks? What are presented to the district banks for collection? What are the ways at transferring funds? What does the FR Banks issue and redeem? What financial institutions may be members of the Fed? Sum up what the text says about: the structure of the Fed; what the Fed does; incorporated state banks; mutual savings banks; industrial banks; 6. Translate into Russian paying attention to other bank services: Trusts. A trust arrangement exists when a bank provides safekeeping and management of funds for individuals, estates or institutions such as pension funds. The bank's job is to administer the money entrusted to it wisely and for the benefit of the owner. The bank receives a fee for managing these funds. Currency Exchange Banks can buy or sell foreign currencies for their own benefit or for their clients. Importers, exporters and travelers are major users of these services. Even domestic travelers may purchase travelers' checks issued by banks. Many banks rent safety deposit boxes in their vaults to persons seeking a safe and secure place for their valuables. Some banks derive significant revenues from operating bankcard programs. There is usually an annual fee to use the credit card, and the consumer pays interest on the unpaid balance. Merchants pay a fee to the bank as well. In very recent times and still on a highly limited basis some banks have entered the brokerage business. As brokers they buy and sell stocks and bonds for their clients. In a number of states certain banks can sell their customers life insurance policies. Banks may aid commerce by writing letters of credit. In these documents, the bank guarantees one party such as a seller that payment will be made if certain conditions are met such as the delivery of merchandise. Letters of credit are common when goods are bought or sold abroad. There is a fee for providing this letter of credit. Banks are permitted to buy U.
