ENGLISH-RUSSIAN DICTIONARY OF BUSINESS TERMS 2 страница

11. The state can use its control of the economy to wherever it wants.

12. It is__________________ that have led to many nations planned economies over recent years.

13. There is no for individuals to work hard in planned economies.

14. Industries in planned economies can be very .

15. Command economies tend to when to changes in people's

tastes and fashions.

16. Planners are likely__________ some items as they cannot changes in demand.

17. Some__________________ and unattractive products may be .

18. This leads to for some products.

IV. Find in the text English equivalents for the following ,

имеющиеся в распоряжении ресурсы; управлять использованием ресурсов; управление экономикой; отказываться от плановой экономики; иметь высокий жизненный уровень; иметь общие черты; подчиняться 5-летнему плану; значительное количество; ставить производственные задачи; полученная прибыль; стимул к эффективной работе; перебои и очереди; реагировать на изменения спроса; предсказывать изменения спроса; основная проблема, стоящая перед...

V. Answer the questions

1.What's an economic system?

2.What does a standard of living depend on?

3.What's a planned economy? What are its main features?

4.Give the advantages of a planned economy.

5.Give the disadvantages of a planned economy.

6.What causes delays and queues for some products?

7.What can you add to the list of advantages and disadvantages of a planned economy?

VI. Translate using the active possible

1. Если хозяйство плановое, то работа промышленности подчиняется плану, в котором государство определяет производственные задачи и планирует развитие на 5 лет вперед.

2. В плановой экономике покупатели лишены возможности влиять на производство товаров.

3. Поскольку значительная доля полученной прибыли должна быть выплачена государству, то в условиях плановой экономики стимулы ра­ботать эффективно невелики.

4. Промышленность часто выпускает непривлекательные и старомод­ные товары, поскольку невозможно предсказать изменения моды на 5 лет вперед.

5. Государство в условиях плановой экономики может гарантировать своим гражданам образование и медицинское обслуживание.

6. Все крупные решения, касающиеся объема используемых ресурсов, структуры и распределения продукции, производства и потребления, принимаются центральным плановым органом.

 

 

Unit 4.

Market economies (Рыночная экономика).

The best examples of this type of economy are to be found in small South-East Asian states like Hong Kong and Singapore, though even they are not pure examples of market economies. Even they contain some businesses owned and run by the state.

In a true market economy the government plays no role in the management of the economy, the government does not intervene in it. The system is based on private enterprise with private ownership of the means of production and private supplies of capital, which can be defined as surplus income available for investment in new business activities. Workers are paid wages by employers according to how skilled they are and how many firms wish to employ them. They spend their wages on the products and services they need. Consumers are willing to spend more on products and services, which are favoured. Firms producing these goods will make more profits and this will persuade more firms to produce these particular goods rather than less favoured ones.

Thus, we can see that in a market economy it is consumers who decide what is to be produced. Consumers will be willing to pay high prices for products they particularly desire. Firms, which are privately owned, see the opportunity of increased profits and produce the new fashionable and favoured products.

Such a system is, at first view, very attractive. The economy adjusts automatically to meet changing demands. No planners have to be employed, which allows more resources to be available for production. Finns tend to be highly competitive in such an environment. New advanced products and low prices are good ways to increase sales and profits. Since all finns are privately owned they try to make the largest profits possible. In a free market individual people are free to pursue their own interests. They can become millionaires, for example. Suppose you invent a new kind of car. You want to make money our of it in your own interests. But when you have that car produced, you are in fact moving the production possibility frontier outwards. You actually make the society better-off by creating new jobs and opportunities, even though you become a millionaire in the process, and you do it without any government help or intervention.

Not surprisingly there are also problems. Some goods would be underpurchased if the government did not provide free or subsidized supplies. Examples of this type of good and service are health and education. There are other goods and services, such as defence and policing, that are impossible to supply individually in response to consumer spending. Once defence or a police force is supplied to a country then everyone in this country benefits.

A cornerstone of the market system is that production alters swiftly to meet changing demands. These swift changes can, however, have serious consequences. Imagine a firm, which switches from labour-intensive production to one where new technology is employed in the factory. The resulting unemployment could lead to social as well as economic problems.

In a market economy there might be minimal control on working conditions and safety standards concerning products and services. It is necessary to have large-scale government intervention to pass laws to protect consumers and workers.

Some firms produce goods and then advertise heavily to gain sufficient sales. Besides wasting resources on advertising, firms may also duplicate one another's services. Rival firms, providing rail services, for example, could mean that two or more systems of rail are laid.

Finally, firms have to have confidence in future sales if they are to produce new goods and services. At certain times they tend to lack confidence and cut back on production and the development of new ideas. This decision, when taken by many firms, can lead to a recession. A recession means less spending, fewer jobs and a decline in the prosperity of the nation.

VOCABULARY NOTES

to own and run (syn. to manage, to operate) businesses владеть и управлять бизнесом

to intervene вмешиваться

private enterprise (syn. entrepreneurship) частное предпринимательство

private ownership (syn. property) of the means of production частная собственность на средства производства

public property, common ownership общественная собственность

personal property личная собственность

state-owned property, state ownership государственная собственность

private supplies of capital частный капитал

surplus income available for investment in new business activities дополнительный доход (излишек дохода), который можно вложить (инвертировать) в новое дело (бизнес)

to employ использовать; предоставлять работу, нанимать

employer работодатель

employee служащий

employment занятость

unemployment безработица

to persuade убеждать

at first view (syn. at first sight) на перный взгляд

to adjust automatically автоматически приспосабливаться; приводиться в соответствие

competitive конкурентоспособный

to make the largest profits possible получить наибольшую возможную прибыль

to pursue one's own interests преследовать свои интересы

to make money out of it заработать деньги на этом

to move the production possibility frontier outwards продвинуть вперед предел производственных возможностей

to make the society better-off сделать общество более состоятельным

to create new jobs and opportunities создать новые рабочие места, новые возможности

to undcrpurchase (ant. to overpurchase) недостаточно раскупать

to provide free or subsidized supplies обеспечить бесплатное или субсидированное (дотированное) предоставление (товаров, услуг)

in response to (syn. in answer to) в ответ на

a cornerstone краеугольный камень

to alter swiftly быстро меняться

consequences последствия

labour- intensive production трудоемкое производство

working conditions условия работы

safety standards нормы техники безопасности

large- scale intervention широкомасштабное вмешательство

to pass laws принимать законы

to gain sufficient sales добиться достаточного объема продаж

rival firms фирмы-конкуренты, соперники

to have confidence иметь уверенность

to lack confidence не хватать уверенности

Assignments

I. Suggest the Russian equivalents

new advanced products; products which are favoured; they try to make the largest profits possible; provide free or subsidized supplies; produce goods and then advertise heavily; a firm which switches from labour- intensive production to a new one; a decline in the prosperity of the nation

II. Replace the parts in italics by synonyms

businesses owned and run by the state; products and services, which are favoured; at first view; production alters swiftly

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

1.____ Small South-East Asian states like Hong Kong and Singapore contain some businesses__ by the state.

2. The system is based on__ with of .

3. Private supplies of capital can be defined as available for in .

4. Consumers are willing to spend more on products and services, which .

5. More profits will more firms to produce those particular goods that are favoured.

6._____________ In a market economy it is who decide what is to be produced.

7.__________________ firms see the opportunity of and produce the new fashionable

and favoured products.

8. The economy automatically to meet changing demands.

9. Firms tend to be highly in such an environment.

10. In a free market individual people are free .

11. But when you have that car produced, you are moving___________________________ .

12. You actually make by , even though you become a millionaire in the process, and you do it without or .

13.__________ Some goods would be__ if the government did not provide supplies.

14.__ Some other goods and services, such as defence and policing, are impossible to _ in response to consumer spending.

15._____________________ of the market system is that production to meet changing demands.

16.____________ If a firm switches from_ to one where new technology in the factory, it can lead to__ and________________ problems.

14. It is necessary to have__ to pass laws consumers and workers.

15. Firms have in future sales if they are to produce new goods and seivices.

16.A recession means__ spending, jobs and of the nation

IV. Find in the text English equivalents for the following

управление экономикой; процветание нации; широкомаеппабмос вме­шательство правительства; принимать законы; быстро меняться; конкури­рующие фирмы; автоматически изменяться (приспосабливаться); быть кон­курентоспособным; частные фирмы; фирмы, принадлежащиe государству и управляемые им; краеугольный камень; иметь серьезные последствия для...; трудоемкое производство; сокращать производство; быть уверенным в...; не хватает уверенности в...; дорого платить за что-либо

 

V. Answer the questions

1. What's a market economy?

2. What's the main difference between a market economy ami л planned economy?

3. Do changing demands affect production? In what way?

4. What's the mechanism of producing goods and seivices in a market economy?

5.Give the advantages of a market economy.

6.Give the disadvantages of a market economy.

VI. Translate using all the active possible

1.В рыночной экономике невелика или очень мала необходимость в планировании, контроле и широкомасштабном вмешательстве со сторо­ны государства (правительства) в экономический процесс.

2. В условиях рыночной экономики изменения потребительского спроса играют заметную роль в формировании политики фирм.

3. Чтобы быть конкурентоспособными и увеличивать доходы, фирмы должны постоянно изучать спрос и менять свою деятельность в ответ на его изменения.

4. Чем более модный товар, тем более высокую цену надо за него платить.

5. Некоторые виды услуг, например здравоохранение и образование, не могут быть полностью обеспечены только частными фирмами.

6. Рыночная экономика характеризуется частной собственностью на ресурсы и использованием системы рынков и цен для управления эко­номической деятельностью.

7. В такой системе каждый ее участник волен преследовать свои собст­венные интересы; каждая экономическая единица стремится получить наи­больший возможный доход на основе индивидуального принятия решений.

Unit 5.

 

Mixed economies (Смешанная экономика)

Command and market economies both have significant faults. Partly because of this, an intermediate system has developed, known as mixed economies.

A mixed economy means very much what it says as it 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 choice 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: it is just the balance between market and planned elements that alters. Some countries are nearer to command economies, while others are closer to free market economies. So, for example, Hong Kong has some state-controlled industry, while Cuba has some privately owned and controlled firms.

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 defence, while private firms produce cars, furniture, electrical items and similar, less essential products. %

The UK is a mixed economy: some services are provided by the state (for example, health care and defence) whilst a range of privately owned businesses offer other goods and services. The Conservative government under Margaret Thatcher switched many businesses from being state-owned and controlled to being privately owned as part of its privatization programme. This has taken the UK economy further away from the planned system.

VOCABULARY NOTES

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 (syn. while) в то время как, пока

state-controlled industry промышленность, контролируемая государством

to avoid disadvantages избегать недостатков

to enjoy the benefits иметь преимущества, пользоваться преимуществами

to interact взаимодействовать

to solve economic problems решать экономические проблемы

a share of the output доля в объеме производства

essential items товары и услуги первой необходимости

a range of businesses зд. ряд компаний, фирм

Assignments

I. Suggest the Russian equivalents

an intermediate system has developed; to supply essential items; the government controls a share of the output

II. Replace the parts in italics by synonyms

significant faults; a range of products; whilst others are used in response to the demands of consumers

III. 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 are__________ to command economies, while others are to free market economies.

5.____ It is just between market and planned elements that in all the economies of the world.

6._________________ The aim of mixed economies is the disadvantages of both systems while_____________ the benefits that they both offer.

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

8. The state controls__ through , and , and intervenes to supply

9. The Conservative government switched many state-owned businesses to being privately owned as part of its .

IV. Find in the text English equivalents for the following

избегать недостатков; частный сектор; налогообложение; централизо­ванно принимать экономические решения; на одном полюсе на дру­гом...; без ограничений; взаимодействовать в решении проблем; пользоваться благами; правительство, возглавляемое...

V. Increase your vocabulary

to enjoy 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

VI. Make some sentences of your own with the above expressions. Translate:

1. Иметь хорошее здоровье.

2. Все граждане государства должны иметь равные права.

3. Эта пьеса очень популярна.

VI. Check your grammar

It is (was) ... that (who) именно

It is the intention of the planners that there should be enough goods and services for all.

is these disadvantages that have led to many countries abandoning planned economies.

It is consumers who decide what is to be produced.

It is just the balance between market and planned elements that alters.

Rewrite the following sentences using the emphatic construction

1. Television was invented in this century.

2. Mathematicians have solved complicated problems with the help of computers.

3. I first saw this play on TV.

4. Two doctors made this discovery.

5. Owing to the rain we couldn't come.

VII. Answer the questions

1. Are there really pure examples of planned and market economies in the world?

2. What's a mixed economy? What's its aim?

3. What type of economy is the UK? is Russia now?

VIII. Translate into English using all the active possible

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

2. 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.

 

Unit 6.

 

MARKETS (РЫНКИ)

The Role of Market (Роль рынка)

Reports in the press tend to say "the market did this" or "the market expected good news on the economic front", as if the market were a single living entity with a single conscious mind. This is not, of course, the case. To understand reports of market behaviour you have to bear in mind the way the market works.

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 the stock market, business can be transacted over the telephone, almost by remote control. There's no need to go into these details. Instead; we use a general definition of markets.

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 labour, 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 chose the cafe 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. The price of steak is high enough to ensure that society answers the "for whom" question about lunchtime steaks in favour of someone else.

Now think about the seller's viewpoint. The cafe 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. If the wage were much lower it would hardly be worth working at all. 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, buildings, and labour - 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 cafe and society would devote no resources to hamburger production. People's desire to eat hamburgers guides resources into hamburger production. However, if cattle contracted a disease, thereby reducing the economy's ability to produce meat products, competition to purchase more scarce supplies of beef would bid up the price of beef, hamburger producers would be forced to raise prices, and consumers would buy more cheese sandwiches for lunch. Adjustments in prices would encourage society to reallocate resources to reflect the increased scarcity of cattle.

There were several markets involved in your purchase of a hamburger. You and the cafe owner were part of the market for lunches. The student behind the counter was part of the local labour market. The cafe owner was part of the local wholesale meat market and the local market for rented buildings. These descriptions of markets are not very precise. Were you part of the market for lunches, the market for prepared food or the market for sandwiches to which you would have turned if hambuigers had been more expensive? That is why we have adopted a very general definition of markets, which emphasizes that they are arrangements through, which prices influence the allocation of scarce resources.

VOCABULARY NOTES

to bear in mind (syn. to keep in mind) иметь в виду

a local fruit stall фруктовый ларек

stock market фондовая биржа, рынок акций

to transact business (syn. to make a deal) совершать сделку

by remote control при помощи дистанционного управления

to go into details вдаваться в подробности

a general definition общее определение

a shorthand expression краткое, рабочее выражение (определение)

households' decisions решения домохозяйств

to reconcile приводить в соответствие, согласовывать

by adjustment of prices посредством корректировки цен

to demand требовать

given (syn. taking into account, consideration) при условии, что..., учитывая

limited resources ограниченные ресурсы

to satisfy one's appetite удовлетворять аппетит

to answer the question in favour of smb else решать вопрос в пользу кого-либо другого

the seller's viewpoint точка зрения продавца

the cafe owner владелец кафе

the rent арендная плата

to switch to luxury lunches переключиться на дорогие обеды

rich executives состоятельные служащие

behind the counter за прилавком

suitable подходящий

to suit подходить

part-time job (ant. full-time job) работа с неполной занятостью

a bit of money (ant. scads of money) немного денег

it would hardly be worth working at all вряд ли вообще имеет смысл работать

conversely (syn. on the opposite, on the contrary) наоборот, напротив

unskilled job неквалифицированная работа

to guide one's decision влиять на чье-либо решение

through the price system через систему цен

to cover the cost покрывать расходы

to run the cafe содержать кафе

to devote resources выделять ресурсы

to guide resources into hamburger production направить ресурсы на производство гамбургеров

cattle крупный рогатый скот

to contract a disease подхватить болезнь

thereby следовательно, таким образом

to reduce the economy's ability снижать возможности экономики

competition состязание, конкуренция

to purchase scarce supplies скупать дефицитные ресурсы

to reallocate resources перераспределять ресурсы

to reflect the scarcity отражать дефицит

to be involved in быть задействованным в

the local labour market локальный рынок труда

the local wholesale market локальный оптовый рынок

the local market for rented buildings локальный рынок аренды помещений

precise descriptions of markets - точные описания рынков

to adopt a definition принять определение

to adopt a child in a family принять ребенка в семью, усыновить

to emphasize подчеркнуть, выделить

arrangements through, which prices influence smth структуры (механизмы), посредством которых цены влияют на что-либо

Assignments

I. Suggest the Russian equivalents

a single living entity with a single conscious mind; a shorthand expression; to be reconciled by adjustment of smth; a suitable part-time job; to offer high wages; to guide smb's decision; to cover the cost of smth

II. Replace the parts in italics by synonyms

at a distance, of the neighbourhood, carried out, done; ask for, make certain that; buy, illness, managing, put up; rareness

III. Increase your vocabulary

Using words from paragraph 5 ("Much of economics ..."), complete the following statements:

1. I quite like lamb but really I beef.

2. He was a very keen student. He most of the time to his studies.

3. I don't like the canteen, but it's more than going out to a cafe.

4. I'm not in of long and expensive lunches.

5. Please that your essays reach me on time.

6. A good degree should you to get a job.

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

1.______________________________ To understand reports of market behaviour you have to______________________________ the way the market works.

2._ On the stock market, business can be transacted over the telephone,
almost by .

3.________ A market is a 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 by .

4. Much of economics is devoted to the study of how markets and prices society to solve the problems.

5. your desire to eat, and your limited resources, the low hamburger price told you that this was a good way to your appetite.

6._ Society answers the "for whom" question about lunchtime steaks _____________________ someone else.

7.____ The cafe owner is in business because it is still possible to sell hamburgers_______________ .

8.____ If rents were higher, it might be more profitable to sell hamburgers in a cheaper area or_____ to__ lunches.

9.___________________________ The student is working there because it is a suitable , which pays a bit of money.

10.______________________________ Society is allocating resources into hamburger production_____________________________ the price system.

11. If nobody liked hamburgers, the owner could not sell enough at a price that of running the cafe and society would no resources to hamburger production.