7. Переведите текст в с английского языка на русский и ответьте на вопросы.

THE SOURCES OF INCOME

INCOME FROM WORK. Most of the income you are likely to earn comes from work. In return for working, you will receive a wage or salary (The term "wage" refers to the earnings of workers paid by the hour or unit of production. "Salary" refers to earnings paid on a weekly or monthly basis.) How much you earn will depend on many factors.

INCOME FROM WEALTH. Wealth can be expressed as the value of the things you own. Adding the value of all possessions, bank accounts, savings, and the like will give you the total amount of your wealth.

Used in certain ways, wealth can earn income. If you own a car, you may be able to let others use it for a fee. In that instance economists would say that you use your wealth to earn "rent". Wealth in the form of money that is loaned to others or deposited in a saving account, will earn interest. As you can see, interest and rent are two forms of income that can be earned by wealth.

One of the main reasons people save their money is to earn interests, the income from allowing someone else to use one’s capital. The amount that they earn is known as the rate of return. The rate of return is expressed as a percentage of the amount of deposit for a period of a year. A deposit of $ 100 in an account, paying 5 %, for example, would earn a total of $ 5 in interest over a year. $ 5 is the return, the rate of return is 5 %.

The rate of return offered by banks will vary with economic conditions and the length of the time they hold your money. It is also important to distinguish between the rate of return and the yield, the actual amount of interest earned.

Вопросы к тексту В. Переведите на русский язык и ответьте на данные вопросы?

1. What kind of sources of income do you know?

2. Why do people save their money?

3. Can wealth earn income?

4. What are two forms of income that can be earned by wealth?

5. Bank accounts and savings will give the owner the total amount of his wealth, won’t they?

8. Составьте реферат текста c на русском языке.

THE PRICE SYSTEM

One of the remarkable things about the American economic system is that it seems to run by itself. No central economic agency dictates responses to the What, How and Who questions. Yet, the questions are answered.

Prices determine what we are willing and able to buy. They influence us. Prices help to determine when and where factories will be built, which business will succeed, which will fail.

Prices, the money value of goods and services, carry so much information and so affect the behavior of buyers and sellers that economists often describe economy as a price-directed system.

The price system provides the answer to the fundamental questions of what goods and services will be produced, how they will be produced, and who will receive them.

When buyers want more of the product, they are willing to pay more for it. Higher prices attract other producers. As production increases, the need for additional workers causes wages to rise within the industry. When the demand for the product falls, the opposite happens. Prices fall, producers who can no longer operate profitably shut down, or switch to other products, and production falls enough to meet the reduced demand.

The price system encourages sellers to produce in such a way as to minimize costs and maximize profits.

Competition refers to the rivalry among buyers and among sellers. Sellers compete by trying to produce the goods and services buyers want at the lowest possible price. Those unable or unwilling to sell at a price low enough to attract buyers will be unable to dispose of their goods and services. This rivalry benefits us all.