- •1.1 Getting started
- •1.2 Look through the following vocabulary notes which will help you understand the text and discuss the topic.
- •1.3 Reading Economic Systems
- •1.4 Comprehension
- •1.4.1 Answer the questions using the active vocabulary.
- •1.4.2 Mark these statements t(true) or f(false) according to the information in the text. If they are false say why.
- •2. In a market economy, all major decisions related to the production, distribution, commodity and service prices, are made by the government.
- •3. In a planned economy the assumptions of the market play a major role in deciding the right path for a country’s economic development.
- •1.5 Language practice
- •1.5.1 Match the English terms in the left-hand column with the definitions in the right-hand column.
- •1.5.4 Text for discussion.
- •1.6 Render the passage in English using the English equivalents of the italicized phrases given in Russian. Express the main idea of the passage in one sentence or entitle it.
- •Unit 1 Reading Self – Control Test Economic Systems
- •1. Which of the following is the main idea of the text?
- •2. What is most likely the source the text has been taken from?
- •3. It can be derived from the text that an economic system can be defined as
- •4. It can be inferred from the text that
- •5. Which economy according to the information in the text is the most efficient because it adjusts automatically to meet the changing demand ?
- •6. It can be derived from the text that a balance of a wide range of political and economic views is typical for
- •7. It can be derived from the text that the slowliest to react to changes in consumer needs and fluctuating patterns of supply and demand is
- •8. Which of the following statements would the author most probably agree with?
- •9. What is most likely the subject of the extract which is missing from this text?
- •10. The audience the author had in mind when writing this text was most likely a group of
- •Unit 2 the micro-economic environment of business
- •2.2 Look through the following vocabulary notes which will help you understand the text and discuss the topic.
- •2.3 Reading
- •2.4 Comprehension
- •2.4.1 Answer the questions using the active vocabulary.
- •2.4.2 Mark these statements t(true) or f(false) according to the information in the text. If they are false say why.
- •2.5 Language practice
- •2.5.1 Match the English terms in the left-hand column with the definition in the right-hand column.
- •2.5.2 Complete the following text using suitable words or phrases from the box below.
- •2.5.3 Complete the text. Replace the Russian words and phrases by the English equivalents.
- •Inflation
- •2.5.4 Text for discussion.
- •Implications for Business People
- •2.6 Render the passage in English using the English equivalents of the italicised phrases given in Russian. Express the main idea of the passage in one sentence or entitle it.
- •Unit 2 Reading Self – Control Test Economic Essentials
- •10. What is most likely the subject of the extract which is missing from this text?
- •3.1 Getting started
- •3.2 Look through the following vocabulary notes which will help you understand the text and discuss the topic.
- •3.3 Reading From Small Firms to mnCs and Back to mbOs
- •3.4 Comprehension
- •3.4.1 Answer the questions using the active vocabulary.
- •3.4.2 Mark these statements t(true) or f(false) according to the information in the text. If they are false say why.
- •2.5.1 Match the English terms in the left-hand column with the definition in the right-hand column.
- •3.5.2 Complete the following text using suitable words or phrases from the box below.
- •Venture Capital
- •3.5.3 Complete the text. Replace the Russian words and phrases by the English equivalents.
- •3.5.4 Text for discussion.
- •Internal and External Growth
- •3.6 Render the passage in English using the English equivalents of the italicized phrases given in Russian. Express the main idea of the passage in one sentence or entitle it.
- •Unit 3 Reading Self – Control Test From Small Firms to mnCs and Back to mbOs
U N I T 1 MARKET ECONOMY
1.1 Getting started
An economy consists of the economic system of a country or other area, the labor, capital and land resources, and the economic agents that socially participate in the production, exchange and distribution and consumption of goods and services of that area. A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
Discuss the following points.
1. What do you think determines the way in which a government can organize its economy?
2. Why do you think the type of system chosen is critical in shaping the environment in which businesses operate?
1.2 Look through the following vocabulary notes which will help you understand the text and discuss the topic.
an economy
economic Economics an economist |
экономическая система хозяйствования, экономика экономический экономическая наука экономист |
resource endowment |
ресурсное обеспечение |
a business business |
фирма, предприятие бизнес (торговля) |
environment |
окружающая среда |
drawbacks and benefits |
недостатки и преимущества |
an assumption |
представление, допущение |
demand and supply |
спрос и предложение |
goods and services |
товары и услуги |
to purchase a purchase a purchaser |
покупать покупка покупатель |
to consume a consumer consumer consumption |
потреблять потребитель потребительский потребление |
needs and wants |
нужды и потребности |
(un)limited syn. (in)finite |
(не)ограниченный |
scarcity scarce |
дефицит, нехватка дефицитный |
to choose a choice to make/exercise a choice |
выбирать выбор делать выбор |
a commodity |
товар |
to reduce, syn. to decrease ant. to raise, to increase |
уменьшать, сокращать(ся) увеличивать, повышать(ся) |
to eliminate |
устранить, убрать |
to compete competition a competitor competitive |
конкурировать конкуренция конкурент конкурентоспособный |
sales |
продажи |
a profit |
прибыль |
(un)employment to employ an employer an employee |
(безработица) занятость нанимать, брать на работу работодатель работник |
government intervention |
вмешательство правительства |
to cut back (financing) |
снижать финансирование |
a recession |
рецессия, затяжной период спада в экономике |
flexible flexibility |
гибкий гибкость |
to allocate allocation |
распределять распределение |
to fluctuate fluctuation fluctuating |
колебаться, часто меняться колебание (цен, ставок) колеблющийся, неустойчивый |
to advertise advertising advertiser an advertisement |
рекламировать рекламирование, рекламный рекламодатель рекламное объявление |
cohesive |
единый, целый |
an entity
a legal entity |
самостоятельная хозяйственная единица, предприятие, организация юридическое лицо |