Text 5 Economic systems

Economic system is the way in which a country uses its available resources (land, workers, natural resources, etc.) to satisfy the wants of its inhabitants for the goods and services.

There are a number of ways in which a government can organize the economy.

There are three main types of economic systems: planned economies, market economies, mixed economies.

Vocabulary

available – имеющийся в распоряжении

government - правительство

inhabitants – население, жители страны

market - рынок

market economy – рыночная экономика

mixed economy – экономика рыночного типа

planned economy – плановая экономика

TASKS

Task 1. Look through the text and write out the names of the economic systems.

Task 2. Give synonyms to the following words:

country

workers

inhabitants

goods

organization

system

Task 3. What factors of production are mentioned in the text?

Task 4. Which one doesn’t logically fit the group?

1. natural, available, market, enjoyable;

2. planned economy, market economy, satisfy, mixed economy;

3. workers, inhabitants, organize, land.

Task 5. Unscramble the sentences.

1. can, are, ways, a, organize, there, economy, government, a, of, in, number, which, the.

2. economies, planned, three, market, systems, there, economies, main, economies, mixed, are, economic.

Task 6. Match the terms in column A with their definitions in column B.

A.

1. government

2. worker

3.economy

4. goods

B.

a) the system by which a country’s goods and services are produced and used

b) things that are produced in order to be sold

c) the group of people responsible for running a country and making decisions about laws, taxes, etc.

d) one of the people who work for an organization or business, and are below the level of manager

Text 6 Planned economies

Planned economies are also called “command economies” because the state commands the use of the resources (labour and factories) that are used to produce

goods and services as the state owns factories and land.

Planned economies are economies with a large amount of central planning and direction.

The state decides what the nation is to produce and works out plans five years ahead.

Vocabulary

central planning and direction – центральное планирование и руководство

command economy – «командная экономика»

to own – владеть

to produce - производить

state – государство

to work out plans – разрабатывать планы

TASKS

Task 1. Find Russian equivalents to the following.

1. … are also called “command economies” … ,

2. … as the stste owns factories and land.

3. … a large amount of central planning and direction.

4. … what the nation is to produce … .

Task 2. Find in the text English equivalents for the following:

1. плановая экономика;

2. имеющиеся в распоряжении ресурсы;

3. планировать на 5 лет вперед;

4. значительное количество;

5. государству принадлежит земля и фабрики.

Task 3. Use a dictionary and translate the following phrasal verbs.

to work for

to work on

to work out

to work over

Task 4. Fill in the gas with the words from the text.

1. … economies are called “command economies” because … commands the use of … .

2. … as the state … factories, land.

3. planned economies are … with a large … of central … and … .

Task 5. Put up questions to the underlined words in the following sentence.

The state decides what the nation is to produce and works out plans five years ahead.

Task 6. Find synonyms among the given words.

large, receive, different, natiobn, broad, common, fairly, selection, error, choice, constant, mistake, big, basic, rather, product, wide, get, general, make, various, country.

Task 7. Find anonyms among the following words.

different, broad, old, sdistant, large, long, receive, advanced, little, abcient, true, narrow, same, near, backwards, false, lose, modern, young, short.

Task 8. Answer the following questions.

1. Why are planned economies called “command economies”?

2. Who commands in such countries?

3. Why does the state command?

4. Why are these economies called planned?

5. What kind of plans are worked out by the state?