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DIFFERENT ECONOMIC SYSTEMS (Part 1)
UNIT 1. ECONOMY
When an artist looks at the world, he sees colour.
When a musician looks at the world, he hears music.
When an economist looks at the world,
he hears a symphony of costs and benefits.
D. Colander
I. Have a look at the following group of words. Do you know any of them? Read their definitions and match these definitions with their Russian translations.
Economy
- 1) a system according to which the money, industry, and trade of a country or region are organized.
- 2) careful spending or the use of things in order to save money.
Economic
- 1) concerned with economics and with the organization of the money, industry, and trade of a country, region, or social group.
- 2) relating to services, businesses, etc. that produce a profit.
Economical
- 1) something that is economical does not require a lot of money to operate.
- 2) using the minimum amount of time, effort, etc. that is necessary.
Economics
- science of the production, distribution and consumption of goods and services in a society, and the organization of its money, industry, and trade.
Economist
- an expert or student of economics.
Economize
- save money by spending it very carefully and not buying expensive things.
Economic policy
- an action (or inaction) taken, usually by government, to influence economic events.
***
a. действие (или бездействие) предпринимаемые обычно правительством, чтобы повлиять на экономические события.
b. имеющий отношение к услугам, коммерции и т.д. , к тому, что приносит прибыль.
c. наука о производстве, распределении и потреблении товаров и услуг в обществе, а также об организации его денежной системы, промышленности и торговли.
d. аккуратный расход или использование вещей с целью сохранения денег.
e. беречь деньги, тратя их очень аккуратно и не покупая дорогих вещей.
f. что-то, что является таким, не требует много денег для функционирования.
g. система, в соответствии с которой организованы денежная система, промышленность и торговля страны или региона.
h. имеющий отношение к науке экономике и у организации денежной системы, промышленности или торговли страны, региона или социальной группы.
i. использующий минимальной количество времени, усилий и тому подобного, того, что необходимо.
j. эксперт или студент, изучающий экономику.
II. To show that you understand the words given above, choose the best word to complete the following sentences. Add noun, verb or adverb endings if necessary.
1. Home ... is a subject studied at school and college in which students are taught how to run a house well and efficiently.
2. New England's ... is still largely based on manufacturing.
3. If you are really going to buy a car, we'll have to ... on other things.
4. These businesses contribute hundreds of millions of pounds to the ... of the country.
5. I switched off the lights as an ... measure.
6. In his works he explains the ideas of the great English ... J.M. Keynes.
7. She thought of herself as an ... wife.
8. What has gone wrong with the ... system during the last ten years?
9. ... is the oldest of social sciences.
III. Look at the following derivatives. Use your knowledge of English and logical reasoning to explain the meaning of each word below.
system, systematic, systematically, systematize
Use these words in the following sentences.
1. The police made a .... search of the building.
2. You need some ... in your work if you want to succeed.
3. I wish they'd organize themselves more ....
4. This method helps ... the information received.
IV. Match the opposites. Make up your own sentences with these words.
disadvantage consumer
increase quickly
pure sell
ancient advantage
slowly fall
buy mixed
supplier recent
V. Consult the dictionary and find the root words to the following:
Produce, choice, participate, mean, benefit, rule, govern, promote.
VI. Form the opposites by adding the following prefixes: dis, un, im, ir.
Advantage, stable, common, responsible, desirable, respective, material, fair, agree, possible.
VII. Study the following words and word-combinations. What are their Russian equivalents?
An economic system, to make economic decisions, exactly alike, to follow, goods and services, age-old habits and customs, including, more of one than of another, equipment, needs and wants, an agricultural society, food supply, to take control of the government of the state, a powerful political party, an industrial society, the private enterprise system, to be privately owned, a mixed economic system.
Translate the following sentences into Russian.
- An economic system - that is a way of making economic choices and decisions.
- In a command economy, a king, a dictator, or a powerful political party makes the basic economic choices and decisions.
- These two offers are exactly alike.
- The daughter as a rule follows the example set by her mother.
- Goods and services are produced according to age-old habits and customs.
- Some nations use a mix of economic systems.
- Most nations use more of one economic system than of another.
- Economy is the mechanism which uses labour, land and equipment to satisfy all needs and wants of those who live in society.
- Today, traditional economies are common only among agricultural societies in Latin America, Asia, and Africa.
- As the civilization grew up in ancient countries, their rulers needed to protect their people's food supply, to promote trade and growth, to defend themselves, and to make war on other countries.
- This party took control of the economy as well as the government of the state.
- An economic system in which the decisions are made by a central authority like a king, a dictator, or a powerful political party is called a command economy.
- A more recent example of a command economy in an industrial society was the Soviet Union.
- The market economyis also called capitalism or the private enterprise system.
- In a market economy, land, factories, tools, etc. are privately owned.
- Nowadays almost every developed country: Russia, Canada, Great Britain, etc., has a mixed economic system.
developed country –развитая страна
XVII. Choose one of the economic systems and make up a dialogue with your partner discussing the advantages and the disadvantages of this system (Try to convince your partner that this economic system is the best one). Role-play the dialogue.
XX. Discussion topics.
1. What would happen to standards of living in your country if all foreign trade were prohibited? How significant do you think this would be? In what areas would this impact be the strongest?
2. Does everything have a price? Are there some things you would not do regardless of price? (Remember: prices and money are not synonyms; prices may be non-monetary.)
3. Choose any question (problem, topic) relating to Economics and prepare a 5 minute report. Refer to different additional sources to make your report instructive, interesting and informative.
D F J K H T G R L I O L G U S D L K
F G S O C I E T Y F K L D G O J A E
O I U I Z S N S D F A E E M L K B C
N P F K R E S O U R C E S G L K O O
T R I N C R E A S E A Q E K H M U N
R O S D F T R A F L D M G T S E R O
O D K F L K F D S K M A R K E T I M
O U E Q U I P M E N T A I R O L F Y
S C D E C O N O M I C S M V F Y V W
H E J K H T G R L I O L G U S D G K
J R U I Z S N A D V A N T A G E F C
UNIT 2. MARKETING
May both seller and buyer see the benefit.
I. Have a look at the following group of words. Do you know any of them? Read their definitions and match these definitions with their Russian translations.
Market
- a place where goods and services are bought and sold.
Black market
- the system by which people illegally buy and sell goods, or foreign currency.
Buyer's market
- when there are more goods for sale than there are people wanting to buy them.
Seller's market
- a market characterized by excess demand in which buyers consequently experience difficulty in buying.
Marketable
- able or fit to be sold.
Marketing
- the part of business which is concerned with the way in which a product is sold.
***
a. Когда товаров, выставленных на продажу больше, чем людей желающих их приобрести.
b. Сфера бизнеса, занимающаяся способами продажи продукции.
c. Система при помощи, которой люди нелегально продают и покупают товары или иностранную валюту.
d. Место, где продаются и покупаются товары и услуги.
e. Рынок, характеризующийся чрезмерным спросом, где покупатели постоянно испытывают трудности с покупкой.
f. Ходовой, годный для продажи.
II. To show that you understand the words given above, translate the sentences given below. Pay attention to the words in italics.
1. Chesterham is a small market town with a population of 2000.
2. It’s the responsibility of the marketing department to promote and organize the sale of products.
3. Marketing can be defined as an art of buying and selling.
3. We must find new markets for our products.
4. They have never operated in a market economy.
5 . It's a seller s market at the moment.
6. A talking watch will shortly be on the market.
7. They took the mineral water off the market while tests were being made.
III. Let's have a look at the following group of words. Do you know each of them? Find their Russian equivalents. Match the words given below with their definitions. Make up your own sentence with each word.
MARKETING
Having made a product the problem becomes to find someone who will buy it. It’s the responsibility of the marketing department to promote and organize the sale of products to the consumer.
Marketing includes all the business activities connected with the movement of goods and services from producers to consumers. Sometimes it is called distribution. On the one hand, marketing is made up of such activities as transporting, storing and selling goods and, on the other hand, a series of decisions you make during the process of moving goods from producer to user. Marketing operations include product planning, buying, storage, pricing, promotion, selling, credit and marketing research.
All the marketing strategy is based on the concept – “we must produce what people want, not what we want to produce”.
That’s why producers first of all must find out what the consumers want, what they need and what causes them to buy.
As the ability to recognize early trends is very important market research must be carried out. Producers must know why, where, for what purpose the consumers buy. Market research helps the producer to predict what people will want.
Besides producers attempt to influence the consumers to buy through advertising.
Marketing often means working within a set of constantly changing circumstances.
XI. Join the halves.
A.
1. Having made a product the problem becomes
2. Black market is the system by which
3. Marketing is the part of business
4. We must produce what people want,
5. Seller's market is characterized by
6. Marketing includes all the business activities
7. A market is the place
8. Market research helps the producer
9. To recognize early trends producers
10. Buyer's market is more preferable for consumers as
11. It’s the responsibility of the marketing department
B.
1. there are more goods for sale than there are people wanting to buy them and the prices are reduced.
2. where people buy and sell things.
3. to promote and organize the sale of products to the consumer.
4. which is concerned with the way in which a product is sold.
5. connected with the movement of goods and services from producers to consumers.
6. excess demand in which buyers consequently experience difficulty in buying.
7. to predict what people will want.
8. need to carry out market research.
9. not what we want to produce.
10. to find someone who will buy it.
11. people illegally buy and sell goods, or foreign currency.
XII. Think of the nouns that are commonly used with the following verbs.
satisfy, exchange, create, market, produce, promote, business
XXI. Discussion topics.
1. "Marketing concept is a consumer-oriented, profit-oriented philosophy of business". Explain, in your own words, this statement.
2. "In a free competitive economy, the consumer is king." What does it mean?
3. "The producer, not the consumer is king. After all, the producer is the one who advertises. Therefore, the producer is the one who creates wants and thereby influences what consumers will purchase." True or false? Explain.
4. Think of a company that you buy products from regularly. What does it do to keep you as a customer?
5. Choose any question (problem, topic) relating to Marketing and make a 5 minute report in class. Refer to different additional sources to make your report interesting, instructive and informative.
UNIT 3. ADVERTISING
The success of any business depends
upon its ability to attract customers willing and able
to make monetary exchanges for products and
services. To do this, a business must find, understand,
and communicate with potential customers
where they live, work, and play.
I. Have a look at the following group of words. Do you know any of them? Read their definitions and match these definitions with their Russian translations.
Advertising
- communication intended both to inform and persuade.
Ad
- an informal word meaning an advertisement
Advert
- the same as ad
Advertisement
- an announcement in mass media about a product, event, job vacancy, etc.
Advertiser
- a person or company that pays for a product or service to be advertised
Adman
- a person whose profession is advertising
Commercial
- an advertisement on television or radio
Advertising campaign
- a planned series of advertisement intended to advertise a product or service
***
a. Спланированная серия рекламных объявлений направленная на рекламу продукции или услуг.
b. Сообщение, имеющее целью как проинформировать, так и убедить.
c. Рекламное объявление по радио или телевидению.
d. Тоже самое, что ad.
e. Сообщение в средствах массовой информации о продукции, событии, вакансии и т.д.
f. Разговорное слово, означающее рекламное объявление.
g. Человек, профессией которого является реклама.
h. Человек или компания, которые платят за рекламу продукта или услуги.
II. Study the following synonyms to the word advertise. What are their Russian equivalents?
Promote, hype up, plug (give smth a plug), push.
Translate the following sentences. Pay attention to the words in italics.
1. You must have seen those computer games - they have been heavily advertised on TV and all the Sunday papers.
2. To promote their new brand of shampoo, they are selling it at half price for a month.
3. Like most Hollywood movies it was so hyped up that when I saw и I felt rather disappointed.
4. The author used the opportunity of appearing on TV to give his latest book a plug.
5. Revlon is really pushing its new range of beauty creams.
6. At this time of year, the papers are full of advertisement for skiing holidays.
III. Can you think of the synonyms to the following words? Consult a dictionary, if necessary. In what do these synonyms differ? Compose sentences of your own using them.
Merchant, goods, announcement, commerce, commercials, eye-catching, consumer.
IV. Study the following word-combinations. What are their Russian equivalents?
All or nothing, back against the wall, to cope with, to cut one's losses, to save the situation, to save (or lose) face, the tip of the iceberg, without fail, to persuade the public, to create a demand.
Translate the sentences into Russian.
1. This company has an all-or-nothing policy with its smaller suppliers.
2. The new product was so successful that production was barely able to cope with demand.
3. This product has almost outlived its lifespan - we should cut losses and take it off the market at once.
4. We have failed, but our back's not against the wall yet. We have to think over our plan again.
5. Declining product quality and poor after-sale service, have resulted in the company losing a good deal of face with its customers.
6. The recent financial scandal on the stock market stands to be just the tip of the iceberg.
7. We can accept your offer, on condition that you can guarantee even-day delivery without fail.
V. Consult the dictionary and find the root words to the following:
pay, compete, serve, merchandise, employ, create, lead.
VI. Give the synonyms to the following words. Make up your own sentences to show the shades of their meaning.
Involve, include, shop-assistant, goods, money, advertisement, shop, counter.
ADVERTISING
In the eyes of the business world and of many economists, advertising serves an important function. It helps consumers to choose among competing products.
Advertising plays a very important part in modern merchandising. The manufactures tell the public about their new products and the stores tell the public about what products they have at what prices. If they did not advertise no-one would even learn of the existence of their wares. In part, advertising is aimed at conveying information to potential customers and clients, but it is also used to persuade the public to buy. This is the area in which advertising is often criticized. Advertisements are sometimes misleading. Although it is illegal for advertisers to make untrue statements about their goods, services or prices, they still make their wares seem unduly attractive. They create a demand which would not otherwise exist.
Advertisements can be seen in newspapers, magazines, and on television every day of the week. Many more advertisements are sent to customer’s homes.
Advertising companies are called agencies. Each agency sells a lot of different products. Here is how it happens. The first stage is marketing research. Then the agency writes, films, records and photographs a campaign. This is a series of advertisements on TV, on the radio, in newspapers and magazines.
This great business of merchandising employs millions of people, from clerks in the stores to top executives in the department stores and the advertising agencies.
From another point of view, however, advertising goes against important social values. It promotes self-indulgence and thus counters moral and religious teachings. It creates false “needs” and encourages wastes.
Should there be limits on the types of products that business people can advertise? Should advertisers be forced to mention the hazards as well as the attractions of products such as cigarettes? Democratic political processes provide answers to such questions in a continuing process of adjustment and change offering protection to the consumer against false or harmful advertising.
XV. Prove the following.
1. Businesses need to advertise.
2. Everyone is influenced by advertising to a certain extent.
3. Advertising enriches our life.
Advertising letters
Структура делового письма
1. Большинство писем пишутся на бланках, где уже есть логотип, название, адрес, номера телефонов фирмы и прочие данные. Адрес отправителя иногда стоит в конце письма после имени и должности. Если письмо пишется не на бланке, то адрес отправителя обычно пишется в верхнем правом углу. Имя автора письма вверху не пишется.
2. Адрес того, кому предназначено письмо (включая название страны, если письмо отправляется в другую страну), размещается вверху слева.
3. Далее, в тех случаях, когда письмо отправляется на фирму, но адресовано кому-то лично, указывается фамилия адресата (часто пишется на конверте в нижнем левом углу), его должность.
4. Дата обычно пишется справа следующим образом: March 1, 1995 или 1 March, 1995.
5. Обращение к адресату. Если известна фамилия, то указывается фамилия без инициалов. Если неизвестна, то пишут: Dear Sirs (если адресатом является компания, а не конкретное лицо), Dear Sir (если обращаются к мужчине), Dear Madam (если обращаются к женщине), Dear Sir or Madam (если не известно кто адресат – мужчина или женщина). За приветствием стоит двоеточие или запятая.
6. В конце письма обычны окончания: Yours truly, Yours sincerely, Yours faith-
fully.
7. Далее следует подпись, расшифровка подписи, должность, адрес следуют друг за другом в строку в левом либо в правом углу письма. Иногда письмо может быть продиктовано одним человеком, а подписано другим, обычно секретарем. Например, директор, отправляясь в командировку, оставил напечатать и подписать письмо секретарю. В этом случае подпись будет выглядеть так:
рр Diana Price
David Bradly
Managing Director,
где рр (per procurationem, лат.) означает по доверенности, за кого-то.
8. Если к письму прилагаются какие-то материалы (прейскуранты, реклама и др.), то об этом упоминается после внизу слева.
9. Еще ниже в самом конце даются указания на адресатов копий письма.
Government of Canada
Office of the Chairman
Public Service Commission
Ottawa, Ontario
KIA ON7
Attention: P. Smith
December 8, 1996
Dear Sir:
Ref: PC Program analyst
Yours sincerely,
A.Robertson
Director
General Services Division
Encl.
cc:
Клише и выражения рекламного письма:
— We were pleased to learn your interest in... —Нам было приятноузнать о Вашей заинтересованности в ...
— Our company was founded in … —Наша компания была основана в …
— We enclose our catalogue with the latest price-list. —Мыприлагаем наш каталог с новейшим прейскурантом.
— Our detailed price-list will convince you in diversity of our assortment. — Наш подробный прейскурант убедит вас в разнообразии нашего ассортимента.
— Our proposal is valid till... — Наше предложение действительно до ...
— We deliver our goods on CIF terms. —Мы поставляем на условияхСИФ.
— The price covers packing and transportation expenses. —Цена включает упаковку и транспортные расходы.
— We can give you a 5 per cent discount. —Мы можем предоставить вам 5 % скидку.
— As you can see from our price-list, our prices are at least by 3 % lower than market ones. — Как видно из нашего прейскуранта, наши цены по крайней мере на 3% ниже рыночных.
— I call your attention especially on item ... — Я особенно обращаюваше внимание на позицию ...
— If you are not happy with our proposal please inform us about its reason. — Если Вас не устраивает наше предложение, то мы были бы благодарны, если Вы сообщите нам о причине.
— I hope that this information will be of some assistance to you. — Надеюсь, что данная информация будет полезна для Вас.
— We are looking forward to hearing from you soon. — C нетерпением ждем ответа.
XX. Fill in the spaces.
… Sirs,
We have received … reply to … offer and were sorry to see that … price seems to you unreasonable high.
We have to state that we consider our price quite competitive as we quoted it … the basis of the cost price and quality … the goods.
However we … ready to give … a discount and reduce the price by 10% if you increase your order … not less … 500 t.
We are looking … to your early reply.
… faithfully,
Promexport.
… ,
We were … pleased to receive … enquiry … 156th January, for 4,000 yards …Willesden canvas.
We … sending you samples of three different weights … cloth, all … which … be supplied from stock. All these cloths … be supplied in widths of 27,36 and 72 inches.
The prices … each width … shown on the samples, and we … be happy to allow you a special discount of 5% … an order of 4,000 yards or more.
We do not know whether you … interested in any … types of heavy-weight canvas, but please do not hesitate to let us know if we can be of service to you in any other way.
… hope that our patterns … prices will interest … .
… ,
Manager
XXIII. Discussion topics.
1. Good advertising is a key to a successful trade. Explain, in your own words, this statement.
2. Mass media plays a decisive role in modern advertising. What does it mean?
3. Wide advertising doesn’t always mean high quality. True or false? Explain.
4. How does advertising affect your behaviour as a consumer?
5. Name as many goals of advertising as you can and give examples of how they can be achieved.
6. Your boss says to you: "We don't need to use an advertising agency. They cost too much and we can do that stuff ourselves anyway." What arguments can you develop to support the use of an agency?
7. 'To be successful a product or service must appeal to everybody or at least to the majority of people'. Give your pros and cons.
8. Does advertising manipulate us into buying things we don't need?
9. Cut out (or copy) two recent advertisements: one from a magazine and one from a newspaper. In each case, indicate which needs the ads are appealing to.
10. Give two examples of recent purchases where the specific purchase situation influenced your purchase decision. Briefly explain how your decision was affected.
11. Can television commercials cause family conflicts? Give your reasons.
12. Does advertising influence children's values? In what way?
13. Choose any question (problem, topic) you are interested in and make a short report in class. Refer to different additional sources to make your report interesting, instructive and informative.
UNIT 4. MANAGEMENT
If the leader is good, the followers will be good.
I. Have a look at the following group of words. Do you know any of them? Read their definitions and match these definitions with their Russian translations.
Management
- the control and organizing of a business or other organization;
- those staff within the firm who exert control over its activities on behalf of owners.
Top management
- includes the chief executive of an organization, his or her deputy or deputies, the board of directors and the managers in charge of the divisions or departments of the organization.
Middle management
- consists of the managers to whom top management delegates the day-to-day running of the organization.
Managing director
- company director responsible for the day-to-day running of a company. Second in the hierarchy only to the chairman, if there is one; the managing director is the company's chief executive.
Manager
- a person controlling or administrating a business or part of a business.
***
a. состоит из менеджеров, которым высшие должностные лица поручают организацию повседневной деятельности организации.
b. персонал фирмы, который осуществляет контроль за деятельностью данной фирмы со стороны собственников.
c. человек, который осуществляет контроль либо управление коммерческой деятельностью или частью бизнеса.
d. контроль и организация деятельности коммерческой либо другой организации.
e. директор компании, ответственный за организацию повседневной деятельности организации. Второй в иерархии после председателя, если такой есть; это высшее должностное лицо компании.
f. включает в себя главу организации, его или ее заместителя или заместителей, совет директоров и менеджеров ответственные за подразделения или отделы организации.
MANAGEMENT
There is a statement: “Management is getting work done through people.” Most of achievements of any society take place because groups of people get involved in joint effort. Almost everyone is, have been, or someday will be a manager, that is a person who coordinates human, informational, physical, and financial resources of an organization.
Management demands much knowledge of economics and business.
The study of management is important for everyone because many persons presently being trained to be accountants, teachers, or lawyers will one day manage accounting departments, schools and government agencies. A manager usually performs several roles in their daily work. The main functions of managers are planning, organizing, staffing, directing, and controlling.
Planning is defined as the process of determining the objectives of an organization and deciding how to achieve them.
Organizing is known as the process of assigning to the appropriate position the tasks required to achieve the organization objectives.
Staffing (hiring, training, promotion, dismissing) is the process of matching the tasks assigned to certain positions with the right people.
Directing is the process of guiding, leading, and motivating people.
And, the last, controlling is called the process of measuring an organization’s performance against its plans.
Managers are those people who are responsible for making and carrying out decisions within the system, they directly supervise people in an organization. A manager sets objectives and decides what has to be done to reach these objectives. He makes the objectives effective by communicating them to the people that are responsible for various jobs.
Some basic characteristics seem to apply to managers in all types of organizations; they include hard work on a variety of activities, preference for active tasks, direct personal relationships. Managing is a hard job, for there is a lot to be done and relatively little time to do it.
A number of different terms are used for “manager” including “director”, “administrator” and “president”. The term “manager” is used more frequently in profit-making organizations, while the others are used more widely in government and non-profit organizations such as universities, hospitals and social work agencies.
When used collectively the term “management” refers to those people who are responsible for making and carrying out decisions within the system.
XI. Join the halves.
A.
1. Management is
2. Management demands
3. The study of
4. Terms “director”, “administrator” and “president” are used more widely
5. Some basic characteristics seem to apply
6. The main functions of managers are
7. A manager sets objectives and decides
8. Managers directly
9. The term “manager” is used more frequently
10. A manager usually
B.
1. performs several roles in their daily work.
2. planning, organizing, staffing, directing, and controlling.
3. what has to be done to reach these objectives.
4. getting work done through people.
5. much knowledge of economics and business.
6. management is important for everyone.
7. in profit-making organizations.
8. in government and non-profit organizations.
9. to managers in all types of organizations.
10. supervise people in an organization.
XXI. Discussion topics.
1. Make the list of the best qualities of a manager and rank them in order of importance. Then make the five worst.
2. What kind of a company would you like to work for: state-owned, private limited company, multinational corporation, etc. Why? Give your reasons.
3. Some people compare a small company to a family. In your view, is this analogy valid and useful? What are the benefits and risks of viewing a company as a family?
4. Mothers and fathers often have different ways of managing their families. How would you describe the management style of your parents? Teachers?
5. When choosing candidates for any particular job, the Americans say,: "What can this person do?"; the French say, : "What qualification has she/he got?"; the British say, "What kind of background has this person got?" Which question would you ask when you are to choose an applicant? Why?
6. Choose any question (problem, topic) relating to Management and make a 5 minute report in class. Refer to different additional sources to make your report instructive, interesting and informative.
UNIT 1. ECONOMY
When an artist looks at the world, he sees colour.
When a musician looks at the world, he hears music.
When an economist looks at the world,
he hears a symphony of costs and benefits.
D. Colander
I. Have a look at the following group of words. Do you know any of them? Read their definitions and match these definitions with their Russian translations.
Economy
- 1) a system according to which the money, industry, and trade of a country or region are organized.
- 2) careful spending or the use of things in order to save money.
Economic
- 1) concerned with economics and with the organization of the money, industry, and trade of a country, region, or social group.
- 2) relating to services, businesses, etc. that produce a profit.
Economical
- 1) something that is economical does not require a lot of money to operate.
- 2) using the minimum amount of time, effort, etc. that is necessary.
Economics
- science of the production, distribution and consumption of goods and services in a society, and the organization of its money, industry, and trade.
Economist
- an expert or student of economics.
Economize
- save money by spending it very carefully and not buying expensive things.
Economic policy
- an action (or inaction) taken, usually by government, to influence economic events.
***
a. действие (или бездействие) предпринимаемые обычно правительством, чтобы повлиять на экономические события.
b. имеющий отношение к услугам, коммерции и т.д. , к тому, что приносит прибыль.
c. наука о производстве, распределении и потреблении товаров и услуг в обществе, а также об организации его денежной системы, промышленности и торговли.
d. аккуратный расход или использование вещей с целью сохранения денег.
e. беречь деньги, тратя их очень аккуратно и не покупая дорогих вещей.
f. что-то, что является таким, не требует много денег для функционирования.
g. система, в соответствии с которой организованы денежная система, промышленность и торговля страны или региона.
h. имеющий отношение к науке экономике и у организации денежной системы, промышленности или торговли страны, региона или социальной группы.
i. использующий минимальной количество времени, усилий и тому подобного, того, что необходимо.
j. эксперт или студент, изучающий экономику.
II. To show that you understand the words given above, choose the best word to complete the following sentences. Add noun, verb or adverb endings if necessary.
1. Home ... is a subject studied at school and college in which students are taught how to run a house well and efficiently.
2. New England's ... is still largely based on manufacturing.
3. If you are really going to buy a car, we'll have to ... on other things.
4. These businesses contribute hundreds of millions of pounds to the ... of the country.
5. I switched off the lights as an ... measure.
6. In his works he explains the ideas of the great English ... J.M. Keynes.
7. She thought of herself as an ... wife.
8. What has gone wrong with the ... system during the last ten years?
9. ... is the oldest of social sciences.
III. Look at the following derivatives. Use your knowledge of English and logical reasoning to explain the meaning of each word below.
system, systematic, systematically, systematize
Use these words in the following sentences.
1. The police made a .... search of the building.
2. You need some ... in your work if you want to succeed.
3. I wish they'd organize themselves more ....
4. This method helps ... the information received.
IV. Match the opposites. Make up your own sentences with these words.
disadvantage consumer
increase quickly
pure sell
ancient advantage
slowly fall
buy mixed
supplier recent
V. Consult the dictionary and find the root words to the following:
Produce, choice, participate, mean, benefit, rule, govern, promote.
VI. Form the opposites by adding the following prefixes: dis, un, im, ir.
Advantage, stable, common, responsible, desirable, respective, material, fair, agree, possible.
VII. Study the following words and word-combinations. What are their Russian equivalents?
An economic system, to make economic decisions, exactly alike, to follow, goods and services, age-old habits and customs, including, more of one than of another, equipment, needs and wants, an agricultural society, food supply, to take control of the government of the state, a powerful political party, an industrial society, the private enterprise system, to be privately owned, a mixed economic system.
Translate the following sentences into Russian.
- An economic system - that is a way of making economic choices and decisions.
- In a command economy, a king, a dictator, or a powerful political party makes the basic economic choices and decisions.
- These two offers are exactly alike.
- The daughter as a rule follows the example set by her mother.
- Goods and services are produced according to age-old habits and customs.
- Some nations use a mix of economic systems.
- Most nations use more of one economic system than of another.
- Economy is the mechanism which uses labour, land and equipment to satisfy all needs and wants of those who live in society.
- Today, traditional economies are common only among agricultural societies in Latin America, Asia, and Africa.
- As the civilization grew up in ancient countries, their rulers needed to protect their people's food supply, to promote trade and growth, to defend themselves, and to make war on other countries.
- This party took control of the economy as well as the government of the state.
- An economic system in which the decisions are made by a central authority like a king, a dictator, or a powerful political party is called a command economy.
- A more recent example of a command economy in an industrial society was the Soviet Union.
- The market economyis also called capitalism or the private enterprise system.
- In a market economy, land, factories, tools, etc. are privately owned.
- Nowadays almost every developed country: Russia, Canada, Great Britain, etc., has a mixed economic system.
developed country –развитая страна
DIFFERENT ECONOMIC SYSTEMS (Part 1)
Economy is the mechanism which uses labour, land and equipment to satisfy all needs and wants of those who live in society.
Every country has an economic system - that is a way of making economic choices and decisions. No two economic systems are exactly alike. Which system a country follows depends on:
• Who owns and controls the basic resources needed to produce goods and services.
• Who makes the basic economic decisions.
There are three basic economic systems. They are:
• Traditional Economies
• Command Economies
• Market Economies
No nation in the world uses one of these systems. Every nation, including the United States and Russia, use a mix of economic systems. Most nations use more of one system than of another.
For the most of human history, people have used the traditional economic system.In a traditional economy, things are done the way they have always been done. Tools, land and equipment are owned by families and tribes. The basic decisions were made in the distant past. Goods and services are produced according to age-old habits and customs. The amount produced, how it is produced and the right mix of factors of production are set by ancient practice. In a traditional economy, the son usually does what his father did. The daughter follows the example set by her mother. No one asks the basic economic questions because the answers are always the same. There is a little or no economic growth in such a system. Every generation does things exactly the same way the previous generation did them. There is no investment in new or more efficient machinery. Any changes that do take place are too small to notice. A great-great-grandchild would feel right at home in the world of great-great-grandparents.
Traditional economy has both advantages and disadvantages. The advantages include the fact that:
• A traditional economy is very stable and people know what to expect.
• Everyone has a place in the economy. No one is left out. Here are some disadvantages:• Individuals don't have much choice in the type of work they do. Their roles are based on custom.
• Change comes very slowly.
Today, traditional economies are common only among agricultural societies in Latin America, Asia, and Africa.
As the civilization grew up in Egypt, in China, and in other places, their rulers wanted to increase their wealth. To do this, they needed to protect their people's food supply, to promote trade and growth, to defend themselves, and to make war on other countries. So they took control of the economy as well as the government of their state. An economic system in which the decisions are made by a central authority like a king, a dictator, or a powerful political party is called a command economy.
In a command economy, land and capital goods are owned and controlled by the central authority. The central decision-makers, also called planners, decide what will be produced, how it will be produced, how much will be produced, and how it will be distributed. Individuals are expected to follow the decisions of the central planners. The ancient examples of command economies were societies built on agriculture. A more recent example of a command economy in an industrial society was the Soviet Union.
And here is the list of some disadvantages of the command economy:
• Individuals are not encouraged to develop new ideas and have few incentives to work hard.
• The needs and wants of individuals are not always met.
• Day-to-day decision-making is sometimes very slow because a large number of people, called a bureaucracy, are involved in making decisions.
• Power is kept in the hands of a few people - nobles or a single political party - who often abuse the power for their own benefits.
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