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Vocabulary notes

inhabitants - жителі, населення

to own - володіти

natural resources - природні ресурси

a large amount - великий обсяг

central planning and direction - центральне планування і керівництво

consumption - споживання

obviously - очевидно

complicated - складний

to have a number of common features - мати ряд загальних рис

intention - намір

to comply with - підкорятися

a production target to meet - виробнича задача (завдання), яку треба виконати

an objective - ціль, задача

an overall aim - загальна мета

to enjoy a basic standard of living - мати основний рівень життя

to duplicate production - дублювати виробництво

to divert - відволікати (напр., ресурси на інші цілі)

to abandon - відмовлятися від чого-небудь

a major problem faced by command or planned economies - основна проблема, що постає перед командною чи плановою економікою

changes in tastes and fashions - зміни смаків і моди

to underproduce - виробляти менше, ніж потрібно

to regard smth as - сприймати що-небудь, відноситися до чого-небудь як...

obsolete (syn. out of date) - застарілий, що вийшов із уживання

to overproduce - перевиробляти

delays and queues - тут перебої (з товарами) і черги

Assignments

1. Suggest the Ukrainian equivalents

each factory is set a production target to meet; to divert resources to wherever it wants; new ideas rarely come forward; tend to be slow when responding to changes

2. Replace the parts in italics by synonyms

obsolete products; it can ensure that...; it can be very inefficient

There is no incentive for individuals to work hard in planned economies. It led to many nations abandoning planned economies over recent years.

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

1. The type of system chosen is __ in __, in which businesses operate.

2. An economic system is the way in which a country uses its __ to satisfy the demands of __ for goods and services.

3. The more goods and services that can be produced, the higher the standard of living __ by the country's citizens.

4. The state __ factories, land and __.

5. Planned economies are economies with __ of __, when the government __ all __, decides __ and __.

6. The actual system employed __ from state to state, but command or planned economies have __.

7. It is __ that there should be enough goods and services for all.

8. Industries are asked __ these plans and each industry and factory is set __.

9. The factory and farm targets are __ which, if met, allow the nation's __ to be reached.

10. Nations do not waste resources __.

11. The state can use its control of the economy __ to wherever it wants.

12. It is __ that have led to many nations __ planned economies over recent years.

13. There is no __ for individuals to work hard in planned economies.

14. Industries in planned economies can be very __.

15. Command economies tend to __ when __ to changes in people's tastes and fashions.

16. Planners are likely __ some items as they cannot __ changes in demand.

17. Some __ and unattractive products may be __.

18. This leads to __ for some products.

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