Unit IV

WORD-STUDY

Exercise 1. Check the transcription in a dictionary, read and translate the words listed below.

Nouns

flow, opportunity, barrier, law, period.

Verbs

consume, involve, exist, erect, damage, retaliate.

Adjectives

domestic, interlinked, diverse, artificial.

Exercise 2. Give the translation and remember the following verbs used with prepositions in postposition.

Pay for, flow in, flow out, substitute for, drink out, make up, rely on, convert into, look at, look after, speed up, keep from, refer to, add up.

UNDERSTANDING A PRINTED TEXT

WHAT IS INTERNATIONAL TRADE?

The basic idea of international trade and investment is simple: each country produces goods or services that can be either consumed at home or exported to other countries.

The main difference between domestic trade and international trade is the use of foreign currencies to pay for the goods and services crossing international borders. Although global trade is often added up in U.S. dollars, the trading itself involves a myriad of currencies. A Japanese videocassette recorder is paid for in French francs in Paris, and French designer sunglasses are paid for in U.S. dollars in Seattle. Brazilian coffee, American films, and German cars are sold around the world in currencies as diverse as Danish kroner and Malaysian ringgits.

Whenever a country imports or exports goods and services, there is a resulting flow of funds: money returns to the exporting nation, and money flows out of the importing nation. Trade and investment is a two-way street, and with a minimum of trade barriers, international trade and investment usually makes everyone better off.

In an interlinked global economy, consumers are given the opportunity to buy the best products at the best prices. By opening up markets, a government allows its citizens to produce and export those things they are best at and to import the rest, choosing from whatever the world has to offer.

Some trade barriers will always exist as long as any two countries have different sets of laws. However, when a country decides to protect its economy by erecting artificial trade barriers, the result is often damaging to everyone, including those people the barriers were meant to protect.

The Great Depression of the 1930s, for example, spread around the world when

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the United States decided to erect trade barriers to protect local producers. As other countries retaliated, trade plummeted, jobs were lost, and the world entered into a long period of economic decline.

COMPREHENSION CHECK

Exercise 1. Choose the correct word according to the information in the text.

1.The main … between domestic trade and international trade is the use of foreign currencies to pay for the goods and services crossing international borders.

a) idea

b) difference c) goal

2.In the … global economy, consumers are given the opportunity to buy the best products at the best prices.

a) domestic b) interlinked c) foreign

3.Some … barriers will always exist as long as two countries have different sets of laws.

a) trade b) import c) export

4.By … markets, a government allows its citizens to produce and export things they are best at.

a) closing up b) expending c) opening up

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INCREASE YOUR VOCABULARY

Exercise 1. Read and translate the collocations and expressions given below.

1.foreign made videocassette recorder

2.international trade and finance

3.global investment

4.countries in question

5.exchange rate

6.overall economic trends

7.fiscal policy

8.nations money supply

9.a guessing game

10.earnings and spending habits

LANGUAGE ACTIVITY

Exercise 1. Complete the sentences. Use the comparative of the words in brackets + than.

Example: Her problem was more serious than we at first thought. (serious)

1.Sorry I’m late. It took me … to get here …. I can expect. (long)

2.She looks about 20, but in fact she’s much … she looks. (old)

3.Your English has improved. You speak …… before. (fluently)

4.Health and happiness are … money. (important)

5.This exhibition is … the one we visited yesterday. (interesting)

6.It’s … today … it was yesterday. (warm)

Exercise 2. Write in the correct verb: say, tell, speak or talk. Where more than one is possible, indicate by putting alternatives in brackets:

1.If you go to bed now I’ll … you a story.

2.He didn’t even … he was sorry.

3.She was so worried she couldn’t even ….

4.Who … you I was going to London?

5.I wanted to … to him but he didn’t … English.

6.Please don’t … so much! We’re all feeling tired.

7.You can never … what he will do.

Exercise 3. Insert some of, any of, or somewhat as required:

1.Choose the ones you like! You can take … these books away with you.

2.I don’t think his English is getting … better.

3.… the carriages were damaged in the crash.

4.Would you like … my cigarettes?

5.Don’t you think this is … difficult?

6.No, he didn’t lose … his assets.

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Exercise 4. Supply the articles where necessary.

If it is warm and sunny English people say: “We are having … wonderful weather”. If it is cold and wet they say: “… weather is terrible, isn’t it?” As … weather changes very often, it is quite important in … lives of the British people.

Exercise 5. In the texts you have come across such adverbs as “considerably”, “frequently”, “continuously” etc. Let’s recollect what an adverb is.

These are words which inform us about:

1)how something is done (quickly, slowly, carefully, on foot, by bus, etc.). These are adverbs and adverbial phrases of manner;

2)where something is done (there, at home, in England, on Web, at work, etc.). These are adverbs and adverbial phrases of place;

3)when something is done (yesterday, today, next week, at 5 o’clock, etc.). These are adverbs and adverbial phrases of time.

Now, you should remember the order of these words in a sentence: it is “manner-place-time”.

Example: Our students made this experiment successfully last week.

However this order changes as soon as we meet “movement verbs”. Then the order is: “place-manner-time”.

Example: We went to the computing laboratory quickly after classes. Try this exercise:

1.I worked (at the office, hard, today).

2.I’m travelling (every summer, by bicycle, to my native village).

3.He studied (last year, a lot, at university).

4.I drive (every morning, to work).

5.The friend walked (through the park, home, this afternoon).

6.The orchestra performed (at the concert, magnificently, last night).

7.She translated the text (quickly, yesterday, at the lesson).

8.The engineers return (by plane, to France, every weekend).

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