Vocabulary notes

rapid growth – быстрый рост

to purchase – производить закупки

productivity improvements – улучшение (рост) производительности

to supply chain management – обеспечивать постоянный менеджмент

to experience – испытывать, переживать

consumers – потребители

to vаry – варьировать, разнообразить

retail banking services – банковское обслуживание розничной торговли

to adopt – принимать, пользоваться

at the same pace – с такой же скоростью

per capita usage – использование на душу населения

to catch up – догнать

digital age – век цифровой (электронной) технологии

predictable – предсказуемый

digital signature – электронная подпись (знак)

framework – структура

over-taxing – чрезмерное налогообложение

censoring – цензура

environment – окружение

broadcast – широковещательный

Comprehension and Discussion Questions

1. What services can be put on the Internet today?

2. Can modern companies experience any productivity improvement using the Internet services?

3. Do the Internet services influence the growth of companies?

4. Where is the electronic service developing faster in Europe or in the United States?

5. Is it possible to set a predicable environment globally for the conduct of commerce?

6. Why should governments stay away from the global Internet regulating global economy?

Practical Task:

Make up a short summary of text V using a topical sentence of each paragraph.

Unit V Text I. International trade and international business

International trade is the system in which countries exchange goods and services. It occurs when a firm exports goods and services to consumers in another country.

International trade allows a country to specialize in the goods and services that it can produce at a relatively low cost and export those goods in return for imports, whose domestic production is relatively costly. International trade enables the country – and the world – to consume and produce more than would be possible without trade.

Aside from the tangible benefit of increasing the world’s output of goods and services, trade has intangible benefits as well.

• Trade offers diversity to our lives and work. The advantages of particular climates and lands are shared: the United States imports oil from the hot desert of Saudi Arabia to drive cars in cool comfort. Ukrainians can enjoy coffee, bananas, and spices without living in the tropics; and we can have the economy and durability of Japanese cars without driving in hectic Tokyo. Thus, international trade enables us to enjoy a more diverse menu of goods and services than would be possible without trade.

• World trade also encourages the diffusion of knowledge and culture because trade serves as a point of contact between people of different lands.

An international business is any firm that engages in international trade or investment. The task of managing an international business differs from a domestic business in many ways.

International business is different from domestic business for at least four reason:

1. Countries are different (in their culture, political systems, economic systems, legal systems and level of economic development).

2. The range of problems confronted by a manager in international business is wider and the problems themselves more complex than those confronted by a manager in a domestic business.