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In a capitalist or free enterprise economy, property is privately owned, businesses compete to earn profits, and resources are allocated by the market according to the laws of supply and demand. In socialist economies the principal means of production are owned by the state, and resources are allocated according to a plan.

Communism is the form of socialism based on the writings of Karl Marx practiced in the Soviet Union, China and other countries. Socialism had its origins in Europe during the 19^th century. Working conditions in the factories of hose times were very poor. Wages were low; hours were long; and the work was often performed by men, women and children under physically dangerous conditions. For one group of thinkers, who came to be known as utopian socialists, the solution to these problems lay in the creation of small, ideal communities in which the factories would be owned by the workers and profits shared by all.

The process of transforming a less-developed country into a modern state typically involves some of all of the following activities:

• Modernizing the agricultural sectors.

• Adding to the physical infrastructure.

• Increasing output and foreign trade.

• Slowing population growth.

In order to improve living standards, a country’s economic growth must increase faster than its population. In other words, if a nation’s output over a period of time increased by 10 percent, while its population increased by 15 percent, standards would be worse at the end of the period than they were at its beginning.

ІІІ. Що б Ви могли розповісти про свій коледж?

І. Лексико-граматичний тест:

1. What a beautiful house! It's______a palace.

a) as c) even

b) like d) however

2. Travelling by car is convenient______you have some­where to park.

a) if not c) provided if

b) providing d) in case

3.______I got home, I had a bath.

a) when c) while

b) as d) if

4. They are very kind to me. They treat me______their

own son.

a) like I am c) as if I were

b) as if I am d) as if I be

5.1 am going to get this qualification,______long it takes.

a) no matter c) nevertheless

b) however d) while

6. I'll be in London next week. 1 hope to see Tom______there.

a) while I will be c) during my visit

b) while I am d) during I am

7. You should inform the police______your car is stolen.

a) if c) in case

b) though d) like

8. The doorbell rang______we were asleep.

a) when c) providing

b) as d) while

9. Jack is away at the moment. I don't know exactly when he is coming back but I am sure he'll be back______

Monday.

a) by c) on

b) until d) to

10. She was ill last week, but despite______this she went to work.

a) - c) in

b) from d) of