Vocabulary

3. to meet human needs – удовлетворять потребности человека

4. distribution of goods and services – распределение товаров и услуг

5. abundant natural resources – богатые природные ресурсы

6. labor supply – обеспеченность рабочей силой

7. to be rich in – быть богатым чем-либо

8. fertile farm soil – плодородные фермерские земли

9. to expand – увеличиваться, расти, расширяться

10. descendants  потомки

11. forebears – предки

12. to be absorbed in smth/doing smth - быть вовлеченным во что-либо

13. unemployment – безработица

14. labor shortage – нехватка рабочей силы

15. wage rate – уровень заработной платы

16. to prosper – процветать, преуспевать

17. quality - качество

18. skilled workers – квалифицированные рабочие

19. to place emphasis on smth – делать упор на что-либо

20. to contribute to smth – вносить вклад во что-либо

21. to invest in smth – инвестировать

22. vocational education – профессиональное образование

23. significant – значимый, важный

24. to account for – объяснять что-либо, отвечать за что-либо

25. to accumulate money – накапливать денежные средства

26. supplies – запасы, продовольствие

27. entrepreneur – предприниматель

28. to hire workers – нанимать рабочих

29. to give a high return on – давать высокую отдачу, приносить прибыль

30. consumer demand – потребительский спрос

31. to manage/run a business – управлять фирмой, компанией

32. chief executive – генеральный директор

33. to be based on smth – основываться на чем-либо

Exercises

Exercise 1. Change the listed adjectives into adverbs (-ly or –ally are necessary) and put one adverb in each sentence in order to make sense. Some adverbs can operate successfully in more than one sentence.

EXAMPLE great greatly

Their private property was _______ reduced.

Their private property was greatly reduced.

careful	Scientific	considerable
rapid	systematic	regular
clear	Probable	usual
complete

1. The new government worked _______ to change the laws.

2. The central authority _______ controls the quality and quantity of goods.

3. The State _______ plans the economic effort of its citizens.

4. The economic system changed _______ over the thirty year period.

5. Work in economics should always be done _______.

6. Their economic system is _______ capitalistic.

7. The employers will _______ discuss the use of new machines in the factory.

8. The city has changed _______ in the last few years.

9. These men work _______ from nine o’clock till five every day.

10. In a free economy there is _______ very little central planning.

Exercise 2. Make compound words by altering these sentences.

EXAMPLE He is not interested in bearing risks.

He is not interested in risk-bearing.

1. He is not interested in owning a house.

2. He is interested in making profits.

3. The company has decided on a policy of sharing profits.

4. The business of raising capital is sometimes difficult.

5. The problem of making good policies is part of politics.

Exercise 3. Change these sentences by changing certain adjectives into verbs. The new verbs are listed, but not in the proper order. Note that all these verbs are concerned with making something happen, or causing something to happen.

EXAMPLE They made the economy regular.

They regulated the economy.

1. complicate	consolidate	liquidate
   simplify	nationalize	internationalize
   activate	re-activate

   They made the subject complex.

2. They made the subject simple.

3. They made the business ‘solid’ (by bringing them together).

4. They made the business ‘liquid’ (by breaking it up or ‘dissolving’ it).

5. They made the economy active.

6. They made the economy active again (or for a second time).

7. They made the industry national (or public).

8. They made the business international.

Exercise 4. Arrange the following sentences in their proper order, to produce a paragraph about the National Economic Development Council.

1. It meets regularly, under the chairmanship of the Prime Minister.

2. Each committee is concerned with an individual industry and is composed of members from management, the trade unions, government committees and three independent members.

3. The NEDC, which was set up in 1962, brings together representatives of government, management and the trade unions, and provides a meeting place for the discussion of future policy and planning.

4. The EDCs study measures to improve efficiency and competitive power in each industry.

5. Other members are the ministers of the main economic departments of the government, representatives of management and trade unions and the nationalized industries, independent members and other interested people.

6. The NEDC has set up twenty-one Economic Development Committees.

Exercise 5. Make these words negative by adding the prefix in-

EXAMPLE stability in + stabilityinstability

active	activity	organic
secure	security	sufficient
definite	frequent	adequate
distinct	complete	solvent
expert	conclusive	dependent

Use the appropriate words in their negative forms in these sentences.

1. Metals are _______substances.

2. Most nations like to be economically ______.

3. The services which they provided were quite _______.

4. If an economy becomes unstable, people begin to feel _______.

5. The men were rather _______ at the kind of work which they had been asked to do.

Exercise 6. Translate the sentences from Russian into English, using the words from the vocabulary.

1. Число квалифицированных рабочих, занятых на заводе, увеличилось в несколько раз.

2. Рост минимального уровня заработной платы способствовал росту покупательской способности населения.

3. В своем докладе министр сделал упор на то, что профессиональное образование нуждается в реформировании.

4. Несколько известных предпринимателей нашего города инвестировали средства в проект строительства нового медицинского центра.

5. Этот регион славится на всю страну плодородными фермерскими угодьями.

6. Генеральный директор фирмы сделал все возможное, чтобы бизнес процветал.

7. Предприятие гарантирует высокое качество своих товаров.

8. Отдел доставки занимается распределением товар по торговым точкам города.

9. Решение нанять новых рабочих основывается на нехватке сотрудников в ряде важнейших структур производства.

10. Сегодня большая часть работающего населения вовлечена в производство услуг.