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Латыгина Базовый курс економики на англ.doc
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Ex.7. Look at the words and phrases in the box. Match them with the correct definition from the list below:

  1. the sale of goods in large amounts, and usually at lower prices, to stores and businesses;

  2. organized activity producing goods and services, eg. food, banking, tobacco;

  3. a natural substance, eg. wool, coal, used to make something in an industrial process;

  4. the sale of goods to the general public;

  5. controlling; making sure that an organization or a service works fairly and well;

  6. a limit on something;

  7. one of the services supplying the public with gas, water, electricity, transport;

  8. the sale of a business or service owned by the government to private owners;

  9. the process of bringing a company, or different companies in the same industry, under government control;

  10. a system for delivering goods or services.

Ex.8. Write the appropriate word or phrase in the following spaces. Translate the sentences into Ukrainian.

  1. Many young people are taking jobs in the rapidly growing … … – banking, computer programming, financial services.

  2. The computer … needs more people with advanced technical skills.

  3. Wood is the … … used to make paper.

  4. … … is the right to buy, own, use and sell almost any item.

  5. She is … her own interest.

  6. She … a bookstore.

  7. The workers in that factory … trucks.

  8. His … is located in the financial district.

  9. … don’t allow workers to use company cars for personal use.

  10. … of the banks is done by the government.

  11. He … … his computers after going out of business.

  12. The … … is powerful in the USA.

Sold off, regulation, restrictions, enterprise, assemble, owns, pursuing, private property, raw material, industry, service sector, electronic sector.

Ex.9. Fill in the missing prepositions.

To say that privatization is unpopular … Britain is to say nothing. Every week brings fresh outrage tales … bosses … privatized firms picking … huge pay rises while sacking employees and cutting the pay … those who remain.

The ordinary man, who has never liked privatization, wants the water and electricity industries to be renationalized. So what can be said … defence … privatization? Actually a great deal. A few years ago many Britain’s firms working … public sector were losing large sums … money.

After they were privatized, most companies became more profitable. Most had higher sales and a higher share price than … their first year after privatization.

(in-4, up, of-5).

Ex.10. These words are often confused:

to find – to found

to find

to discover by searching or by chance

to found

to establish

Complete these sentences using the correct form of one of the words above. Make your own sentences to show that you understand the difference in their meaning.

  1. Who were the … of the European Union?

  2. I … $ 10 on the sidewalk.

  3. Economists … money in the budget to increase help to the poor.

  4. We … our partners waiting for us at the restaurant.

  5. His grandmother … this company.

  6. The … of that bank was a wealthy businessman.

  7. I was lost but finally … my way back to the hotel.

  8. Have any new multinationals been … recently?

  9. He … a new job.

  10. I … the purse lying in a telephone box.

Exercises in Comrehension

Ex.1. Answer the following questions:

  1. What principle may businesses be classified to?

  2. What companies work in the manufacturing sector?

  3. What companies work in the service sector?

  4. What companies work in the private /public sector?

  5. What is a private enterprise?

  6. When is a private company considered to be nationalized?

  7. When is a company considered to be privatized?

  8. What companies are the first to be sold off in a privatization programme?

Ex.2. What is the difference between:

a manufacturing sector – a service sector;

a private sector – a public sector;

nationalization – privatization.

Ex.3. Sum up what the text says about business organizations and the economy.

Grammar Revision

Past Simple and Past Continuous

We use the Past Simple:

for events or actions in the past

In her youth she worked hard at English.

for events that happened one after another

I finished my translation and sat down to watch TV.

We use the Past Continuous:

for actions in progress in the past

I was doing the translation all afternoon.

for action that was in progress when another action happened. The second action is in the Past Simple.

When we came she was interviewing a new secretary.

for actions in progress at the same time in the past

The wind was blowing and it was raining heavily.