I. Read and translate the following international words without using a dictionary.

Extreme, element, individual, to control, technically, system, sector, electrical, economy, economic, resource, private, firm, business, service.

II. Read and translate the text. Mixed economies

Command and market economies both have significant faults. Partly because of this, an intermediate system has developed; know as mixed economies. A mixed economy contains elements of both mar­ket and planned economies. At one extreme we have a command economy, which does not allow individu­als to make economic decisions, at the other extreme we have a free market, where individuals exercise considerable economic freedom of choke without any government restrictions. Between these two extremes lies a mixed economy. In mixed economies some resour­ces are controlled by the government whilst others are used in response to the demands of consumers.

Technically, all the economies of the world are mixed. Some countries are nearer to command economies, while others are closer to free market econo­mies.

The aim of mixed economies is to avoid the disad­vantages of both systems while enjoying the bene­fits: that they both offer. So, in a mixed economy the government and the private sector interact in sol­ving economic problems. The state controls the share of the output through taxation and transfer payments and intervenes to supply essential items such as health, education and defense, while private firms produce cars, furniture, electrical items and similar, less essential products.

The UK is a country with mixed economy. Some services are provided by the state (for example, health care and defense) whilst a range of privately owned businesses offer other goods and services.

Vocabulary

Significant faults – значительные недостатки

At one extreme… at the other extreme – на одном полюсе…на другом…

To exercise considerable economic freedom of choice –иметь значительную экономическую свободу выбора

restriction - ограничение

whilst = while – в то время как

a state-controlled industry – промышленность, контролируемая государством

to avoid disadvantages- избегать недостатков

to enjoy the benefits – иметь преимущества, пользоваться преимуществом

a share of the output – доля объема в производстве

essential items – товары и услуги первой необходимости

a range of businesses – зд. Ряд компаний, фирм

III. Find Russian equivalents to the following.

an intermediate system has developed;

to supply essential items;

the government controls a share of the output

IV. Find synonyms to the words in italics.

significant faults;

a range of products; whilst others are used;

in response to the demands of consumers.

V. Fill in the gaps with the words and expressions from the text.

1. Command and market economies both have _______.

2. __ contains elements of both market and planned economies.

3. __ we have a command economy, which does not __ , __ we have a free market, where individu­als __ without __

4. Some countries arc __ to command, economies,

while others are _______ to free market economies.

5. It is just __ between market and planned ele­ment that __ in 'all the economies of the world.

6. The aim of mixed economies is ________ the disadvantages of both system while __ the benefits that they both offer.

7. In a mixed economy the government and the private sector ____ in ____.