Vocabulary notes

significant faults – значні недоліки

at one extreme... at the other extreme – на одному полюсі ... на іншому

to exercise considerable economic freedom of choice – здійснювати (мати) значну економічну свободу вибору

restriction –обмеження

whilst [wailst] (syn. while) – в той час , як; поки

state- controlled industry – промисловість, контрольована державою

to avoid disadvantages – уникати недоліків

to enjoy the benefits – мати переваги, користуватися перевагами

to interact – взаємодіяти

to solve economic problems – вирішувати економічні проблеми

a share of the output – частка в обсязі виробництва

essential items – товари та послуги першої необхідності

a range of businesses – зд. ряд компаній, фірм

Assignments

I. Suggest the Ukrainian equivalents

an intermediate system has developed; to supply essential items; the government controls a share of the output

II. Replace the parts in italics by synonyms

significant faults; a range of products; whilst others are used in response to the demands of consumers

III. Fill in the gaps with the words and expressions from the text

1. Command and market economies both have __.

2. __ contains elements of both market and planned economies.

3. __ we have a command economy, which does not __, __ we have a free market, where individuals __ without __.

4. Some countries are __ to command economies, while others are __ to free market economies.

5. It is just __ between market and planned element that __ in all the economies of the world.

6. The aim of mixed economies is __ the disadvantages of both systems while __ the benefits that they both offer.

7. In a mixed economy the government and the private sector __ in ___.

8. The state controls __ through __, and __, and intervenes to supply

9. The Conservative government switched many state-owned businesses to being privately owned as part of its __.

IV. Increase your vocabulary

to enjoy (syn. — to have as an advantage — мати, користуватися)

to enjoy a boom

to enjoy a high standard of living

to enjoy a basic standard of living

to enjoy the benefits

Make some sentences of your own with the above expressions.

Translate:

1. Мати хороше здоров'я.

2. Всі громадяни держави повинні мати рівні права.

3. Ця п'єса дуже популярна.

V. Check your grammar

It is (was) ... that (who) – саме

It is the Intention of the planners that there should be enough goods and services for all.

It is these disadvantages that have led to many countries abandoning planned economies.

It is consumers who decide what is to be produced.

It is just the balance between market and planned elements that alters.

Rewrite the following sentences using the emphatic construction

1. Television was invented in this century.

1. Mathematicians have solved complicated problems with the help of computers.

3. I first saw this play on TV.

4. Two doctors made this discovery.

5. Owing to the rain we couldn't come.