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VI. Find in the text English equivalents for the following.

  1. избегать недостатков;

  2. частный сектор;

  3. налогообложение;

4. централизованно принимать экономические решения

  1. на одном полюсе - на другом…

  2. без ограничений

  3. взаимодействовать в решении проблем

  4. пользоваться благами

  5. правительство, возглавляемое…

VII. Add to your vocabulary.

to enjoy (syn. - to have as an advantage –иметь, пользоваться)

to enjoy a boom , to enjoy a high standard of living

to enjoy a basic standard of living

to enjoy the benefits

VIII. Answer the questions.

1. Do really pure examples of planned and market economies exist in the world?

  1. What is a mixed economy? What is its aim?

3. What type of economy has the UK?

4. What type of economy is in Russia now?

IX. Translate into Russian.

  1. Иметь хорошее здоровье.

2. Все граждане государства должны иметь равные права.

  1. Эта пьеса очень популярна.

X. Translate into English.

В реальной действительности экономические системы располагаются где-то между чисто рыночной и плановой экономикой.

Смешанная экономика - это система, при которой частная собственность и рынок, а также правительство и общественные институты, энергично участвующие в обеспечении экономической стабильности и перераспределении доходов, взаимодействуют ­в решении экономических проблем.

Text VI

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

Banking, per­son, financial, commercial, central, company, finance, fund, deposit, institution, investment, instrument, contract, cheque, electronically, credit, debit, service, automate, regular, industry, form, to guarantee, international.

II. Read and translate the text. What is banking?

Banking is the transactions carried on by any per­son or firm engaged in providing financial services to consumers or businesses.

For these purposes there exist commercial banks, central banks, savings banks, trust companies, finance companies and merchant banks. Banking consists of safeguarding and transfer of funds, lending or facil­itating loans, guaranteeing creditworthiness and exchange of money. In other words, banking is the ac­ceptance, transfer, and creation of deposits. The depository institutions are central hanks, commercial banks, savings and loan associations, building socie­ties, and mutual savings banks.

Safeguarding and transfer of funds

Vaults and safes are the means for safeguarding of funds. Money is physically stored there. These physical deposits are in most cases insured against them and against the bank being bankrupt and unable to repay the funds. In some banks customers can use safety deposit boxes for valuables. To save money in banks is profitable because bank customers deposit interest given on savings accounts, a percentage to return on the bank's investments with the money.

Transfer of funds can be handled through written instruments: contracts, cheques, or direct transfers performed electronically. Nowadays banks provide the customers with additional ways of gaining access to their funds and using them. These are credit cards and account debit cards, electronic cash tills, computer on-line banking, and other services.

Automated clearinghouses perform similar servic­es for business customers by handling regular pay­ments, such as wages, for a company banking with the bank. Longer-term schemes for providing regular income on savings are often offered through trust funds or other investment schemes.