2. Ex. 3. Find in the text English equivalents for the following.

саяси ұстанымдардың қандай болғанына қарамастан; бұл тұрғыда; тауарға салық салу; көзқарастардың ортақтығы; принциптердегі (қағидаттардағы) бірауыздылық; шешілмейтін мәселелер; қазіргі уақытта жүргізіліп жатқан зерттеулер; білікті және барлығын қамтитын зерттеу жұмысы; ортақ көзқараста болу; кең мағынада, жалпы түсінікте; шамамен тең мөлшерлер; орынды қарсылық айту; қоғамда басымдыққа (сұранысқа) ие.

Ex.4. Answer the questions.

1. What are two branches of economics?

2. What does the positive economics deal with?

3. What is the aim of normative economics?

4. What is the difference between positive and normative economics in regard to the role of research?

5. What are the global consequences of the government's failure to subsidize the medical bills of the elderly?

Ex. 5. Translate into English.

1.Экономиканы оқыған кезде позитивті (оң) және нормативті экономикалық теорияларды ажырату қажет. 2. Егер позитивті (оң) теорияда біз саяси ұстанымдарымызға қарамастан риясыз болып қала алсақ, нормативті теория жеке құндылықтар жүйесіне негізделеді. 3. Бұл тұрғыда екі теория арасындағы ерекшелік өте көрнекі. 4. Білікті және барлығын қамтитын зерттеу жұмысы экономистер арасындағы дау-дамай туғызып отырған шешілмеген сұрақтарды қандай-да бір дәрежеде жөндей алады. 5. Жалпы түсінік бойынша үкіметке жасалынған ешбір ұсыныс дұрыс немесе бұрыс болмайды, себебі ол субъективті бағдарламаларға негізделген. 6. Позитивті (оң) теория жеке адам немесе жалпы қоғам ішінен барынша басымдысын таңдай алатын бірқатар мүмкін баламаларды ұсына алады.

Grammar: Non-finite form of the verb: Gerundial Construction.

There are some cases when the Gerund is related to its own “subject”, expressed by a noun or pronoun: We appreciate your helping us./ We enjoyed the band’s playing very much.

The nominal element of the construction can be expressed in different ways:

• If it denotes a living being it may be expressed by a possessive pronoun or a noun in the possessive case: Do you mind my smoking?

• When the nominal element consists of two or more noun, possessive case is not used: I object to Mary and Jane going out on such a windy day.

• If the nominal element denotes a lifeless thing it is expressed by a noun in the common case: I said something about my clock being slow.

Ex.6. Translate the sentences into Kazakh.

1. We appreciate John’s helping us. 2. I can’t imagine my mother approving it.3. They presented my winning the prize. 4. I think that’s enough to start her worrying.5. I can’t excuse her not answering our invitation.6. I can’t bear him interfering in what I do.7. I really miss him playing the piano in the evening.8. Excuse, my asking but does everyone in your family approve of your flying. 9. Your coming has done him good.10. I wonder at Joy Lon’s allowing the engagement.

Ex.6. Join two sentences, using gerunds.

Example: The children are making such a noise. Can you stop them making such a noise?

Students must write their corrections carefully. The teacher insists on ….

The teacher insists on students’ writing their corrections carefully.

1. I told that my watch was five minutes slow. Have you forgotten …? 2. He allows his son to drive his car. He doesn’t mind … 3. No one helped her with her homework. She did her homework without …. 4. He got my letter although I had addressed it wrongly. He got my letter in spite of …. 5. I beat him at tennis, and he wasn’t pleased at all. He hated … 6. She was afraid that the baby would fall out of the bed. She was afraid of … 7. He doesn’t believe that a boy of twelve should have too much pocket-money. He doesn’t believe in … 8. My father doesn’t like me to stay out late at night. He doesn’t like ….

Ex.7. Translate the sentences from Kazakh into English using gerundial constructions.

1. Мен оның үлкен зауыттың директоры болып тағайындалғаны туралы естідім. 2. Мен олардың осында келуіне қарсы емеспін. 3. Оның маған бұл туралы бірнеше күн бұрын айтқаны менің есімде. 4. Мен оны оңтүстікке жіберетіні туралы естідім. 5. Оның жұмысты кешке дейін бітіретініне сенім жоқ. 6. Менің осында темекі шеккеніме сіздің ешқандай қарсылығыңыз жоқ па? 7. Біз олардың келіссөздер жүргізуді дереу бастауын талап еттік. 8. Ол жұмыстың уақытылы бітуіне жауап береді.

Ex. 8. Provide the "to" or the "-ing" form of the verb. It may be necessary to provide a preposition as well.

1. They were thinking... some time on the North African coast. (spend)

2. The factory owner was accused... the health of his workers. (endanger)

3. He was planning... a holiday in the USA. (take)

4. The burglar decided... into the house... a window. (get, break)

5. The removal men were asked... the furniture into the van. (load)

6. He hurt his back... ... the sofa on his own. (try, lift)

7. The danger... on thin ice must be obvious. (skate)

8. Shopaholics just cannot stop themselves... things. (buy)

9. He bought the books... his friends, not... . (impress, read)

10. The newspaper printed a story about a man... a dog. (bite)

Ex. 9. Complete with the gerund or infinitive of the verb given.

1. I remember when you had tried (climb) that wall (escape) from the neighbour when he saw you (steal) apples in the orchard.

2. I am considering (go) away on holiday over Easter.

3. We are looking into (buy) a larger flat because we long (have) more space.

4. The restaurant we intend (eat) at is sure (be) to your taste.

5. I find it hard (understand) why you like (read) those trashy novels.

6. He loves (garden) because it gives him a feeling of (do) something useful.

7. There is no point in me (ask) you (do) the washing up.

8. As you refuse (work) on Sundays there is no point in (offer) you overtime.

9. I don't want her (come) to dinner because I know she will say something (annoy) me.

10. Peter is supposed (remind) me (do) the tax returns before Monday, otherwise the tax man will come (knock) on our door.

11. Do you want me (shake) it, or would you like me (stir) it, Mr. Bond?

12. I have spent a few minutes (watch) those people across the road and I am beginning (think) they are rather eccentric.

Ex. 10. Complete with the gerund or infinitive of the verb given.

1. You should think about (save) until you have enough money (get) a decent video camera rather than (rush) (buy).

2. We all dislike (have) (work) even though we are all eager (spend) money on (have) a good time and (get) the things we want.

3. I have been attempting (learn) (play) the flute and I hope (play) in public soon.

4. I have trouble (understand) modern art as some artists only seem out (shock); I cannot understand them not (want) to make the kind of beautiful things we all like (look) at.

5. You mustn't mind (take) trouble over the cooking if you want your guests (enjoy) their meal.

6. It is worth (watch) the news if you want (keep) up to date.

7. I like (watch) the clouds at sunset because it seems (relax) and puts me in the right frame of mind (sleep).

8. I enjoy (visit) the internet cafй on my way home (check) my e-mails and maybe (surf) the net for a while.

9. (Eat) apples is better for you than (drink) fizzy orange juice.

10. I meant (buy) some croissants before (leave) for work.

11. I detest (hear) loud car radios even more than (listen) to politicians rant and rave.

12. He had given up (smoke) twenty or thirty times but was so weak-willed he couldn't prevent himself (start) again as soon as he was offered the deadly weed.

UNIT 11

MARKETS

Text: The role of Market.

Grammar: Infinitive and Gerund constructions.

The role of Market.

A market is simply a mechanism, which allows individuals or organizations to trade with each other. Markets bring together buyers and sellers of goods and services. In some cases, such as a local fruit stall, buyers and sellers meet physically. In other cases, such as stock market, business can be transacted over the telephone, almost by remote control.

A market is a shorthand expression for the process by which households decisions about consumption of alternative goods, firms’ decisions about what and how to produce, and workers’ decisions about how much and for whom to work are all reconciled by adjustment of prices.

Prices of goods and of resources, such as labor, machinery and land, adjust to ensure that scarce resources are used to produce those goods and services that society demands.

Much of economics is devoted to the study of how markets and prices enable society to solve the problems of what, how and for whom to produce. Suppose you buy a hamburger for your lunch. What does this have to do with markets and prices? You choose the cafй because it was fast, convenient and cheap. Given your desire to eat, and your limited resources, the low hamburger price told you that this was a good way to satisfy your appetite. You probably prefer steak but that is more expensive.

Now think about the seller’s viewpoint. The cafй owner is in business because, given the price of hamburger meat, the rent and the wages that must be paid, it is still possible to sell hamburgers at a profit. If rents were higher, it might be more profitable to sell hamburgers in a cheaper area or to switch to luxury lunches for rich executives on expense accounts. The student behind the counter is working there because it is a suitable part-time job, which pays a bit of money. Conversely, the job is unskilled and there are plenty of students looking for such work, so owners of cafes do not have to offer very high wages.

Prices are guiding your decision to buy a hamburger, the owner’s decision to sell hamburgers and the student’s decision to take the job. Society is allocating resources – meat, building, and labor – into hamburger production through the price system. If nobody liked hamburgers, the owner could not sell enough at a price that covered the cost of running the cafй and society would devote no resources to hamburger production. People’s desire to eat hamburgers guides resources into hamburger production.

There were several markets involved in your purchase of a hamburger. You and the cafй owner were part of the market for lunches. The student behind the counter was part of the local labor market. The cafй owner was part of the local wholesale meat market and the local market for rented buildings. It is a very general definition of markets, which emphasizes that they are arrangements through, which prices influence the allocation of scarce resources.