2020-09-24
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1. Answer the questions:
1. Which type of economic systems seems to you the most rational and attractive?
Give your reasons.
2. Discuss the positive and the negative sides of each economic system.
3. What can you say about the present-day economy of Russia?
4. Have you ever heard the term “perestroika”? What does it mean to you? What political leader initiated the process of reforms in Russia?
5. Name six countries which can be described as developed ones.
6. What developing counties do you know? Give your examples of low-income and middle-income developing countries.
2. Render in English:
Сегодня экономисты мира знают, что Китай – это огромный потенциальный рынок. Не только потому, что его население составляет 1,2 млрд. человек, но и потому, что в Китае быстро развивается экономика, растёт потребление. Страна уверенно движется к рыночной экономике
В последние годы в Китае бурно развивается внешняя торговля. Китай установил торговые отношения более чем с 200 странами и регионами мира.
Китай – развивающаяся страна. Для ускорения экономического развития ему нужно привлекать иностранный капитал. Используя иностранные инвестиции, Китай ускорил освоение энергоресурсов, развитие транспорта и связи, а также реконструкцию старых промышленных предприятий. Иностранные инвесторы получают в Китае высокие прибыли.
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У китайского рынка огромное будущее. Газета “Business Week” прогнозирует, что к 2007 году десятая часть всех товаров, произведённых в мире, будет поступать из развивающихся стран, включая Китай и Индию. Способность Китая провести экономическую реформу значительно повлияет на структуру мировой экономики в двадцать первом веке.
KEY WORD – COMBINATIONS
1.потенциальный рынок – potential market
2.потребление – demand
3.внешняя торговля – foreign trade
4.торговые отношения – trade relations
5.ускорить экономическое развитие – speed up economic development
6.привлекать иностранный капитал (инвестиции) – attract foreign capital
7.освоение энергоресурсов – development of power resources
8.прогнозировать – project
9.десятая часть – one-tenth
10.способность – ability
11.проводить реформу – carry out a reform
12. мировая экономика – global economy
3. Read the dialogue, reproduce it and make up your own one.
Rita Nadir came to Seattle to take English lessons in a language school for foreign students. She meets her classmate Edgar Erickson.
Edgar – Oh, what a pretty girl! Hi! What’s your name?
Rita – Hello, I’m Rita Nadir.
E – Nice to meet you. I’m Edgar Erickson. I’m from Sweden. Where are
you from?
R – I’m from Malaysia. Have you ever been to Malaysia?
E – Oh, never. But I guess it’s a beautiful country. It’s somewhere in
Southeast Asia, isn’t it? I’ve always wanted to learn more about other countries and peoples. Tell me about Malaysia, please.
R – My land is located in the tropics. Throughout the country you can enjoy
beautiful beaches and idyllic islands and the world’s oldest rainforests with a diversity of flora and fauna that is truly astounding. There is a number of world- famous resorts such as Rebak Marina resort, Coral Redang Island resort, Nexus Golf Resort and many others.
Malaysia is often called “The Best of All Worlds” by tourists.
E – Well, I suppose tourism is an important sector of your economy, isn’t it?
R – Oh, you are quite right. By the way, I’m going to work in a travel agency, that’s why I’m here to improve my English.
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E – I see. As for me, I study economics. Could you tell me anything about the Malaysian economy?
R – In comparison with Sweden, Malaysia is a developing country. Some decades ago it was mainly an agricultural country, but nowadays Malaysia is more industrial than agriculturally oriented. Our economy has expanded rapidly over the last ten years with strong output recorded particularly in the manufacturing, services, and the construction sectors.
E – Sounds impressive. What manufactured goods does your country export?
R – Major exports comprise electrical and electronic products and machinery, chemical and wood products, textiles, transport equipment, iron, steel and fabricated metal products.
E – I’ve never met such a competent girl! I think you’ll make a successful career in traveling business.
R – And I’ve never met such an inquisitive boy! What else do you want to know?
E – Oh, nothing special. Just one thing more! Are you free tonight? Let’s go out somewhere.
VOCABULARY NOTES
rainforest – тропический лес
diversity – разнообразие, многообразие
astounding – поразительный, изумительный
resort – курорт
decade – десятилетие
manufactured goods – промышленные товары
career – карьера
inquisitive – любопытный, пытливый
4. Write an essay about the economy of any country you like. Read it to your classmates. Be ready to answer their questions.
5. Topics for discussion:
1. Three types of economic systems.
a) capitalism
b) communism
c) socialism
2. The changing nature of economic systems.
3. Developed and developing countries.
IV. BRUSH UP YOUR GRAMMAR
A. Grammar Folio
The Passive Voice
Страдательный (пассивный) залог
Страдательный (пассивный) залог английского глагола имеет те же временные категории, что и действительный залог.
| ed be V < III |
Пассивный залог употребляется, когда объект действия более важен для говорящего, чем исполнитель (субъект) этого действия.
| Simple | Continuous | Perfect | |
| Present | am ed is V < are III I am instructed Меня инструктируют (обычно) | аm ed is being V < are III I am being instructed Меня инструктируют (сейчас) | have ed been V < has III I have been instructed Меня проинструктировали (уже) |
| Past | was ed V < were III I was instructed Меня инструктировали (вчера) | was ed being V < were III I was being instructed Меня инструктировали (когда он вошёл) | ed had been V < III I had been instructed Меня уже проинструктировали (к тому времени, когда он вошёл) |
| Future | ed will be V < III I will be instructed Меня будут инструктировать | Вместо отсутствующей формы употребляется Future Simple | ed will have been V < III I will have been instructed Меня проинструктируют (к трём часам) |
B. Exercises
1. Transfer Active constructions into Passive:
A)
Under capitalism, individuals own the factors of production.
Under capitalism, the factors of production are owned by individuals.
1.The state operates certain key industries.
2.The government provides many social services.
3.Mexico and Sweden practise varying degrees of socialism.
4.Foreign investors get high profits in China.
5.Communism allows citizens the least degree of economic freedom.
6.Economists consider China to be a large potential market.
B)
Many planned economies are adopting free-market policies.
Free-market policies are being adopted by many planned economies.
1.China is taking steady steps toward a more market-based economy.
2.The government is keeping key industries under state control.
3.Russia is carrying out an economic reform.
4.The former Soviet republics are now selling off their government-owned enterprises.
5.The developing countries are changing the structure of the global economy.
6. They are now manufacturing a new type of transistor radio in Japan.
C)
Rigid centralized planning has caused the economic failure of the communist system.
The economic failure of the communist system has been caused by rigid centralized planning.
1.The Russian government has restructured many industries lately.
2.Over the last years China has established trade relations with more than 200 countries of the world.
3.Many socialist countries have privatized state-owned companies.
4.The natural resources of the Russian Far East have always attracted foreign capital.
5.The state has allowed private ownership of many businesses.
6.Economic problems have forced Sweden to trim its social role.
2. Compose the sentences:
| A new economic problem | is was will be is being was being has been had been will have been | discussed at the conference | every month last week next week now all day long yesterday this week by 4 o’clock yesterday before the professor comes |
3. Chose the right variant:
1. The company _______ in 1997.
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a) is founded b) will be founded c) had been founded d) was founded
2. Under socialism certain key industries such as transportation, utilities, medicine, and communication _________ by the state.
a) had been owned b) are being owned c) are owned d) have been owned
3. In the near future 50 large government-owned companies _______ in Israel
a) were sold b) will be sold c) will have been sold d) are sold
4. By the next year this old plant ________
a) is being reconstructed b) will be reconstructed c) will have been reconstructed d) is reconstructed
5. Right now the Minister of Trade _______ by foreign journalists.
a) is being interviewed d) is interviewed c) will be interviewed d) will have been interviewed
6. A new highway _______ between Germany and Netherlands recently.
a) was built b) was being built c) has been built d) had been built
7 A new film about economic reforms in China ________ on TV from 10 till 11 o’clock yesterday.
a) has been shown b) was shown c) had been shown d) was being shown
8. The British government privatized most of state-owned enterprises after a new economic program _______. by the Parliament.
a) was being adopted b) was adopted c) has been adopted d) had been adopted
9. The process of privatization in Russia ______ by the end of the 20th century.
a) was generally accomplished b) has generally been accomplished c) had generally been accomplished d) will generally have been accomplished
10. Every change in society ______ by a change in man’s beliefs.
a) is being preceded b) is preceded c) was preceded l) will be preceded
11. London Bridge ______ for wise men to go over and fools to go under.
a) is built b) was built c) was being built d) will be built
12. This newspaper ______ every day for twenty years.
a) is printed b) was printed d) was being printed d) has been printed
13. You _____- to Mr. Brown yet.
a) haven’t been introduced b) hadn’t been introduced c) aren’t being introduced d) were not introduced
14. I _______ to the director soon.
a) am introduced b) was introduced c) will be introduced d) will have been introduced
15. Nowadays the role of socialist governments in industry ______.
a) is diminished b) has been diminished c) will be diminished d) is being diminished
4. Put questions to the underlined words:
1. Citizens have a high degree of economic freedom.
2.Taxes are high in socialist states.
3.Business owners charge any price they want.
4.The government has privatized many state-owned enterprises.
5. Developing countries are competing effectively in the global marketplace.
6.Privatization is occurring in countries like Great Britain, France, and Israel.
7. In the near future Russia will speed up its economic development.
UNIT 3
I. TEXT
ECONOMIC ENTITY ASSUMPTION
An economic entity can be any organization or unit in society. It may be a business enterprise such as General Electric Company; a governmental unit such as the state of Nevada; a municipality such as Seattle; a school district such as St. Louis District 48; or a social organization such as a church (Southern Baptist).
This assumption requires that the activities of the entity be kept separate and distinct from (1) the activities of its owner and (2) all other economic entities.
The economic entity assumption is generally discussed in relation to a business enterprise, which may be organized as sole proprietorship, partnership, and corporation.
Sole Proprietorships
A sole proprietorship is a business owned by one person, and it is the easiest and the least expensive form of business to start. Many farms, retail stores (antique shops, clothing stores, jewelry stores), and small service businesses (barber shops, law offices, cafes, and auto-repair shops) are often sole proprietorships. Usually only a limited amount of money (capital) is necessary to start business, and the owner receives any profits, suffers any losses, and is personally liable for all debts of the business. Although there is no legal distinction between the business as an economic unit and the owner, the records of the business activities are kept separate from the personal records and activities of the owner. Sole proprietorships represent the largest number of businesses in the United States, but they are typically the smallest in size and volume of business.
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Sole proprietorships have a number of advantages. One is ease of establishment. All you have to do to launch a sole proprietorship is to obtain any necessary licences, start a checking account and open your doors. As a sole proprietor, you have the satisfaction of working for yourself. You can make your own decisions, such as which hours to work, whom to hire, what prices to charge, whether to expand, and whether to shut down. Best of all, you can keep all the profits, which are taxed at your personal income rate tax and not the higher corporate rate. As a sole proprietor, you also have the advantage of privacy; you do not have to reveal your performance or plans to anyone.
Disadvantages of sole proprietorships include the limited potential for profit as the company’s financial resources are limited. A single person starting a company generally has less capital than a group of people, and an individual may also have more difficulty getting a loan. The major disadvantage of a sole proprietorship is the proprietor’s unlimited liability. It means that any damages or debts of the business can be attached to the owner. As a sole proprietor, you might have to sell personal assets, such as your family home, to satisfy a business debt. Managerial problems may also develop, as often the owner can’t afford to hire experienced managers. A final disadvantage is that sole proprietorships often have a limited life, in other words the business may cease when the owner dies. Even if the business transfers to an heir, the owner’s unique skills may be crucial to the successful operation of the business.
Partnerships
If several individuals wish to go into business together they can form a partnership. A partnership is a legal association of two or more people as co-owners of a business for profit. In most respects a partnership is similar to a sole proprietorship except that more than one owner is involved. Although a partnership, like a proprietorship, is not a separate legal entity, for accounting purposes the partnership affairs must be kept separate from the personal activities of the partners. The partners share profits, losses, and usually the management responsibilities as well. A partnership might remain a small, two-person operation, or it might grow into an international business with thousands of employees.
Partnerships are of three basic types. In a general partnership, all partners are equal by law, and all are liable for the business’s debts. In a limited partnership, one or more people act as general partners who run the business, while the remaining partners are passive investors (that is, they are not involved in managing the business). These partners are called limited partners because their liability is limited to the amount of their capital contribution. In a master limited partnership (M L P), firms act like corporations, selling partner units on a stock exchange. All partnerships are taxed at personal rates.
When a partnership is created there should be an agreement – the legal document setting forth the partners’ rights and responsibilities. A key element of the partnership agreement is the buy/sell agreement, which defines what will happen if one of the partners dies.
Partnerships are often used to organize retail and service-type businesses, including professional practices (lawyers, doctors, and accountants)
