зо Англійська мова професійного спрямування

ЕКОНОМІКА ОСНОВНИХ АнглоМОВНИХ КРАЇН

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Basic Ingredients of English-Speaking Countries Economies

Great Britain, the United States of America, Canada, Australia, and New Zealand are referred to as English- speaking countries. Availability of market economy i.e. based on free enterprise, generally characterized by private ownership and initiative, with a relative absence of gov­ernment involvement is characteristic for them. However, government intervention has been found necessary from time to time to ensure that economic opportunities are fair and accessible to the people, to prevent flagrant abuses, to dampen inflation and to stimulate growth. Such econo­mies are generally described as mixed, which is to say that even though the great majority of productive resources are privately owned, the federal'government does play an important role in the marketplace.

Every economic system tries to anticipate and then meet human needs and wants through the production and distribution of goods and services. The economic system is the mechanism that brings together natural resources, the labor supply, technology, and the necessary entrepreneurial and management talents.

The first ingredient of an economic system is the natu­ral resources from which goods are produced. In general, these countries have land rich in mineral resources and fertile farm soil. Second, the amount of available labor helps determine the health of the economy. Generally, all these countries have been fortunate in having enough

people to provide the labor necessary for constantly ex­panding economies. The Protestant work ethic supported the demand for hard work. The strong emphasis placed on education also contributed to their economic success. Likewise the willingness to experiment, to change and to invest in technology was significant in a land that had pride itself on being a new experiment in freedom.

But the existence of abundant natural resources and a skillful and willing labor force accounts for only part of an economic system structure. The resources must be di­rected as efficiently as possible into the areas where they will be most productive. In the economies of main English- speaking countries, managers of enterprises responding to signals from market perform this function. The corporation as a voluntary association of owners known as stockhold­ers has proved to be an effective device for accumulating funds for investment.

All free market economies run in a cycle, one not so much of ‘boom and bust’ as of expansion and contraction. Looked at over time, this rise and fall of the economies can be charged with a certain regularity devoid of a matching precision. Forecasting just when they will enter a new phase, such as-recession or growth, remains more art than science. Now the economies of English-speaking countries stand at different stages of the cycle. However, despite periodic recessions or depressions, they have continued to grow over time.

2. Відповісти на запитання:

1. What countries are referred to as English-speaking ones?

2. Are those developed or developing countries?

3. What is characteristic for a free market economy?

4. What are the major ingredients of an economic system?

5. Why do economies of English-speaking countries prove to be so successful?

6. Explain'the terms boom, boost, expansion, and cont­raction.

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Nouns	Іменники
market economy	ринкова економіка
mixed economy	економіка змішаного типу
macroeconomics	макроекономіка
microeconomics	мікроекономіка
advancement	досягнення, прогрес
standard of living	рівень життя
private ownership	приватна власність
initiative	ініціатива
involvement •	залучення (до процесу)
intervention	втручання
natural resources	природні ресурси
labor supply	пропозиція робочої сили
technology	технологія
entrepreneurial talent	підприємництво
management talent	управлінські здібності
growth	зростання
recession	економічний спад
production	виробництво
productivity	продуктивність
labor productivity	продуктивність праці
і distribution	розподіл
consumption	споживання
investment	інвестиція
expansion	розширення
contraction	скорочення
|emphasis	акцент, наголос

Verbs	Дієслова
ensure	забезпечувати
prevent	запобігати
dampen	послаблювати
stimulate	стимулювати
anticipate	передбачати
meet	задовольняти
account for, amount to	складати
determine	визначати
contribute	робити внесок
invest	інвестувати
accumulate	накопичувати
run	проходити, протікати, управляти
Adjectives & Participles	Прикметники та прислівники
state-owned	в державній власності
privately-owned	в приватній власності
abundant	багатий, надлишковий
flagrant	різко виражений
accessible	доступний
skillful	кваліфікований
willing to work	той, хто прагне працювати