Контрольная работа №1

VARIANT 1

1. Перепишите следующие предложения, подчеркните в каждом из них глагол-сказуемое и определите его видовременную форму и залог. Переведите предложения на русский язык.

1. Russian science is successfully solving many complex problems.

2. Most governments now issue paper money in the form of bills.

3. Many companies have had numerous ideas from the sales force which have resulted in successful products.

4. A system is required in which ideas are generated through an organized network with a central collection points.

5. In addition, a comprehensive training program was established.

6. A lot of raw materials are shipped to Great Britain.

2. Перепишите следующие предложения, подчеркните Participle I и Participle II и установите функции каждого из них. Переведите предложения на русский язык.

1. It is raining cats and dogs.

2. Companies recognizing that all employees have creative potential can perhaps obtain substantial gains.

3. This approach puts new products into an inferior position well behind existing products.

4. When discussing the problem he noted that new ideas can arrive form a wide variety of sources and it is perhaps safer initially to keep them all open.

3. Перепишите следующие предложения, в каждом из них подчеркните модальный глагол или его эквивалент. Переведите предложения на русский язык.

1. You can buy goods with money.

2. The computers should become an integral part of the organization of bank processes of all types.

3. They had to come to the office every Saturday.

4. He will be able to create the necessary conditions for the work.

IV. Прочитайте и письменно переведите текст.

MONEY

1) Money is used for buying or selling goods, for measuring value and for storing wealth. Almost every society now has a money economy based on coins and paper bills of one kind or another. However this has not always been true. In primitive society a system of barter was used. Barter was a system of direct exchange of goods. Somebody could exchange a sheep, for example, for anything in the market-place that they considered to be of equal value. Barter, however was a very unsatisfactory system because people’s precise needs seldom coincided.

2) People needed a more practical system of exchange, and various money systems developed based on goods which the member of society recognized as having value.

Cattle, grain, teeth, shells, feathers, skulls, salt, elephant tusks, and tobacco have all been used. Precious metals gradually took over because, made into coins, they were portable, durable, recognizable, and divisible into lower and smaller units of value.

3) A coin is a piece of metal, usually disc shaped, which bears lettering, designs or numbers showing its value. Until the eighteenth and nineteenth centuries, coins were given monetary worth based on the exact amount of metal contained in them, but most modern coins are based on face value the value that governments choose to give them, irrespective of the actual metal content.

4) Coins have been made of gold, silver, copper, aluminium, nickel, lead, and zinc, plastic and in China even from pressed tea leaves. Most governments now issue paper money in the form of bills, which are really “promises to pay”. Paper money is obviously easier to handle and much more convenient in the modern world. Checks and credit cards are being used increasingly, and it is possible to imagine a world where “money” in the form of coins and paper currency will no longer be used. Even today, in the USA, many places, especially filling stations will not accept cash at night for security reasons.

VARIANT 2

1. Перепишите следующие предложения, подчеркните в каждом из них глагол-сказуемое и определите его видовременную форму и залог. Переведите предложения на русский язык.

1. The telex service is penetrating all parts of the world.

2. Telex will deal with single or multi-address telexes.

3. Telex has been around for a long time, and it still holds its own very unique position in today’s modern communication spectrum.

4. Telex is backed up by all the advanced technology.

5. The prices will be settled by both parties.

6. He was told to wait.

2. Перепишите следующие предложения, подчеркните Participle I и Participle II и установите функции каждого из них.

1. He speaks like a man having his own opinion of everything.

2. Receiving no reply by the end of the month we shall consider the problem over again.

3. Having been examined by the customs, the goods were let through.

4. We came nearer to listen to the engineer explaining something to the people grouped at the project.

3. Перепишите следующие предложения, подчеркните в каждом из них модальный глагол или его эквивалент. Переведите предложения на русский язык.

1. Telex is very flexible, you can use it to make and confirm hotel and travel or other types of reservations.

2. As opposed to correspondence that may miss the post, the telex service offers fast written communication with any part of the world.

3. You should know that telex is available to anyone who has a telex machine.

4. He had to come to the office every morning.

4. Прочитайте и письменно переведите текст.

COMMODITY MARKETS

1) Commodity markets are the markets where manufacture can buy raw materials such as wool, coffee, sugar, rubber, tea, copper and the other products of farms, plantations and mines around the world. The City of London is a very important world centre for commodity trading of all kinds and because of London’s geographical position the London markets are open when the markets in both the United States and the Far East are open.

2) Different methods of trading are used according to the commodity, but the most common is the open method in which brokers, representing buyers or sellers, stand in a ring and shout out the prices at which the are prepared to buy or sell. This is the method used at the London Metal Exchange, which deals in zinc, tin, nickel, aluminum, silver, lead and copper. However, as with other markets, the introduction of new technology is causing the traditional face-to-face trading methods to be abandoned and new screen-based techniques to be developed.

3) Commodities are bought and sold at a “spot” price for immediate delivery, or at a “forward” or “future “ price for the delivery at a certain time in the future, in three months’ time for example. As well as manufacturers who require a commodity to make a product, e.g. a company that needs to buy sugar and cocoa to make chocolate, there are also speculators who do not intend to take delivery of the commodity—their aim is to make a profit out of fluctuations in price.

Money can also be regarded as a commodity and it is traded in the foreign exchange market. This is a telephone market, taking place in the dealing rooms of major banks, where currencies are bought and sold all over the world. Foreign currencies and other financial contracts can also be traded on the floor of the London International Financial Futures Exchange.

VARIANT 3

1. Перепишите следующие предложения, определите в каждом из них видовременную форму и залог глагола-сказуемого. Переведите предложения на русский язык.

1. Mail is sent and received every day.

2. The customer has been given all necessary clarifications on the matter.

3. The letter will be signed tomorrow.

4. A contract was signed at your office yesterday.

5. The goods will be distributed within this month.

2. Перепишите следующие предложения и переведите их на русский язык, обратив внимание на разные значения слов it. that, one.

1. We assure you that the design work will be carried out in time.

2. It is not simple as all that.

3. If one wishes to receive something, one must also give something in exchange.

3. Перепишите предложения и переведите их на русский язык, обратив внимание на разные значения глаголов to be, to have, to do.

1. The supplier will have to revise the prices as world prices have gone down.

2. The equipment does not arrive according to the schedule.

3. These people were to be sent to St.Petersburg for vocational training.

4. The company had to reimburse him for the cost of the journey.

4. Перепишите следующие предложения и переведите их на русский язык, обратив внимание на бессоюзное подчинение.

1. The work we all do is called economic activity.

2. The economic activities people undertake make up the economic system of a town, city, country or larger area.

3. The classical economists of the 19^th century believed the population would increase faster than the ability to provide food.

5. Перепишите следующие предложения и переведите их на русский язык, найдите инфинитивы и определите их функции.

1. The contractor has sent some specialists to carry out starting-up and adjustment operations.

2. We’d like to start utilizing the credit a year after the project is commissioned.

3. It is the customer’s concern to carry out representation of the equipment.

4. To design new building is the work of an architect.

6. Перепишите и письменно переведите текст.

THE IMPORTANCE OF CASH FIOWS

The preceding discussion showed that wealth is determined by cash flows and not profits. Cash flows capture the economic impact of managerial decisions. Stockholders, in evaluating the firm, will therefore examine its potential cash flows in order to determine how much they are willing to pay for its stocks. This fundamental relationship between cash flows and prices forms this basis for understanding how any asset, not just the firm’s stock, is valued.

The precise connection between cash flows and prices is fairly complex. This relationship depends on not only the magnitude of the cash flows but also upon the times at which they occur and degree of uncertainty (risk) associated with their receipt.

TYPES OF FINANCIAL SECURITIES

Investors provide capital to firms in the form of equity capital or debt capital and in return receive financial securities. Each type of financial security has risks and rewards. By buying equity securities, stockholders expect benefits from dividends and capital gains on their stock. By buying a company’s bonds, bondholders expect interest payments and capital gains. Whereas bondholders expect a fixed-interest payment, stockholders cannot be assured of dividends. Primary and secondary markets are important for both individuals and firms.

Different individuals in the economy have different needs for current and future consumption. Some will choose to consume more now and less later; in fact, they may need to more that their current wealth. These people will be borrowers. People with less need to consume will not provide capital by lending to the borrowers. Some will choose to invest in a business and share in the potential rewards or losses of the firm. Others may want to provide capital to a business but may not be willing to take on the risks of the firm.

VARIANT 4

I. Перепишите следующие предложения, определите в каждом из них видовременную форму и залог глагола-сказуемого. Переведите предложения на русский язык.

1. Books are not sold here only newspapers and magazines are.

2. Our equipment will be bought in many countries.

3. A number of alterations have been made in the design of the machine.

4. The contract was signed by the president of the company.

5. The training program will be sent to you within this week.

II. Перепишите следующие предложения и переведите их на русский язык, обратив внимание на разные значения слов it, that, one.

1. Every major economic crisis in history has had its peculiar features – but this one was perhaps the most peculiar yet.

2. Please, note that the meeting is fixed for August, 19.

3. It was easy to clear up the misunderstanding.

III. Перепишите предложения и переведите их на русский язык, обратив внимание на разные значения глаголов to be, to have, to do.

1. The document does not need a thorough study.

2. The parties concerned had to discuss a possible rise in imports.

3. You were to look into the matter before you gave a final reply to the customer.

4. You have to study the competitors’ materials.

IV. Перепишите предложения и переведите их на русский язык, обратив внимание на бессоюзное подчинение.

1. The goods they wanted were essential minerals.

2. The goods he buys are valuable.

3. The importance economic factors have for economic growth is obvious: for instance, it is clear that an economy benefits from supplies of minerals, capital, and good land, and suffers if these resources are absent.

5. Перепишите следующие предложения и переведите их на русский язык, обратив внимание на инфинитив. Определите функцию инфинитивов.

1. The supplier reserved the right to replace some equipment.

2. To translate a sentence is to discover its meaning.

3. The customer asked the supplier to bring down the prices of the equipment.

4. It was decided to wind up the meeting

6. Перепишите и письменно переведите текст.

FINANCIAL DECISION MAKING

THE INVESTMENT DECISION

A firm needs to invest in real assets in order to produce goods or services. Therefore, decisions must be made on what assets to own – what mix of fixed assets (plant, equipment, and land) and what mix of current assets (cash, accounts receivables, and inventories) will best facilitate the firm’s production of goods and services. In the other words, how much should the firm invest? The answers to the questions involve the firm’s investment decision.

THE FINANCING DECISION

The company needs to finance its assets by acquiring cash from the financial markets. Decisions must therefore be made about what securities to issue and what mix of short-term credit, long-term debt, and equity best facilitates the effort to meet the firm’s financing decision.

FINANCIAL MANAGEMENT

These two broad decisions-investment and financing are the responsibility of the financial manager, and the art and science of making the right decisions for the firm are called financial management.

A successful manager must understand the function of finance. A firm’s activities fall into three broad areas: production (operations), marketing, and finance. The finance function largely involves preparing cash budgets, monitoring performance, evaluating prospective investments, raising funds.

VARIANT 5

1. Перепишите следующие предложения, определите в каждом из них видовременную форму и залог глагола-сказуемого. Переведите предложения на русский.

1. The main question has already been discussed.

2. His scientific work is much spoken about.

3. An increase in the market price of tomatoes will lead to a fall in the demand for tomato pickers’ labour.

4. We first examine the general goals that society sets for itself.

5. Physical capital includes financial assets (financial capital) and real assets, and these may be changer from one form to another.

2. Перепишите следующие предложения и переведите их на русский язык, обратив внимание на разные значения слов it, that, one.

1. It is necessary to use that latest means of control in industry.

2. One should agree that that experiment was of great importance for our research.

3. It is necessary to obtain accurate data on the possibility of living and working in space.

3. Перепишите предложения и переведите их на русский язык, обратив внимание на разные значения глаголов to be, to have, to do.

1. One has to measure capital input in terms of the value of capital employed.

2. Each partner must pay personal income taxes on his or her proportionate share of the partnership's earning, even if he or she does not actually receive that share.

3. The manager is to arrive at 8 o'clock.

4. Society has reacted to this evolution of consumer needs by replacing information cooperative arrangements between individuals with more complex formal contractual relationships that constitute a business.

IV. Перепишите предложения и переведите их на русский язык, обратив внимание на бессоюзное подчинение.

1. What is the name of the book you are reading?

2. The region we must explore possesses great natural wealth.

3. If the supply of pickers is completely inelastic (i.e. fixed) the wage they earn will not reflect their productivity.

V. Перепишите следующие предложения и переведите их на русский язык, определите функции инфинитивов.

1. We then describe the economic organizations and relationships that exist to satisfy these goals and place the function of financial management in the context of the business firm.

2. To understand finance, we must understand the environment in which financial decisions are made.

3. As individuals work to improve their own welfare, they are, perhaps unconsciously, also improving the welfare of society as a whole.

4. Explain how you plan to modify your products, services, and marketing strategy to accommodate the changing markets.

VI. Перепишите и письменно переведите текст

NEGOTIATING

Whenever we exchange information with the aim of influencing or persuading others in order to meet our own needs, we are involved in the process of negotiations. Sellers and buyers negotiate the price and terms to largescale purchases such as real estate. Husbands and wives negotiate to settle arguments. Unions and management negotiate labour contracts. And managers negotiate with countless numbers of people in the course of a week to make decisions, promote projects, or settle problems. The managerial role fits the very definition of negotiation. We share information for the purpose of achieving the needs of our departments and organizations.

The essential characteristics of negotiation, which distinguish it from other types of communication, are the notions of give-and-take, mutual fulfilment of needs, the use of strategies, and some amount of conflict that must be resolved. People usually enter negotiation with predetermined objectives that they expect to readjust along the way. Through the mutual exchange of information and concessions, they expect to be able to reach the agreements. Needs fulfilment is the very purpose of negotiation. Each party is dependent on the other for something. Both parties want their needs to be met. Conflict occurs because the needs of each party are often mutually exclusive. The achievement of one person's needs may automatically frustrate he fulfilment of the other's needs. Finally, strategies come into play whenever negotiations plan method or tactics to influence each other. Strategies of negotiation need not be devious schemes to manipulate or deceive. They are merely well-conceived plans and preparations developed prior to the face-to-face interaction of a negotiation.

VARIANT 6

1. Перепишите следующие предложения, подчеркните в каждом из них глагол-сказуемое и определите его видовременную форму и залог. Переведите предложение на русский язык.

1. We have seen your advertisement in “The Times” of January.

2. We are sending the samples under separate cover.

3. The election of the Lord Mayor attracted our attention because the ceremony is both beautiful and interesting.

4. The advertisement will be seen by people.

5. The intensity of this process is influenced by many factors.

5. The equipment has been delivered to Brown and Co.

2. Перепишите следующие предложения найдите в них Participle I и Participle II, установите их функции, переведите на русский язык предложения.

1. A company selling agricultural machinery for example will advertise in a farming magazine.

2. Mrs. Corbett has asked you to write a reply to the letter, on which she has written some comments.

3. Arrived at the ship, the passengers were shown their cabins.

4. Not having been approved of by an overwhelming major the members of the committee, the proposal was turned down.

3. Перепишите следующие предложения, подчеркните в каждом из них модальный глагол или его эквивалент. Переведите предложения на русский язык.

1. I could come for an interview on Wednesday, 26^th July.

2. They are likely to buy the product.

3. The costs that have to be considered are: the goods themselves, transport, and insurance.

4. They should consider carefully if the job is suitable for them.

4. Прочитайте и письменно переведите текст.

TECHNOLOGY AND WORK

1. Technology has a great influence on where, as well as people live and work. For example the development of steam-powered machinery in the eighteenth century resulted in the rapid grow of factories. Because home workers were unable to compete with the production capacities of the new factories, they were forced out of business and became employees in the factories. As a conseques of the introduction of steam-powered machinery, therefore, there was a clear separation of the workplace from the home.

2. One effect of the development of fast, affordable transport has been to free people from the necessity of living within walking distance of work. As a result of the expansion of the ways in the nineteenth century, for instance, many collar workers were able to move to the clearer air of the suburbs and commute to their jobs in the city centres. The habit of travel quite long distance to work has grown in the twentieth century to the availability of mass-produced reasonably-priced cars.

3. Recent developments in computerized communications systems, however, have led to speculation that home workers may face become an important part of the work force. By using a word processor linked to a personal computer and connected with telephone to the company’s computer, it is possible to exchange the information required to do a wide variety of “office” jobs at home. Consequently, for those with the necessary skills, their office can now be at their fingertips, instead of at the end of a wade rail journey. In other words, “brainworkers” can now “telecommute” from home rather than physically commute to the office.

4. FAX is the abbreviation for facsimile machine. It is machine that transmits an image of document via the international telephone network. If you place a letter in a fax machine in London, it can be transmitted to Tokyo, where another fax machine will print out an exact copy of your letter. One of the major advantages of fax machine is that they can be used to transmit the documents used in foreign trade. The receiving machine interprets this information and re-creates the image, which is then printed out on paper.

VARIANT 7

I. Перепишите следующие предложения, подчеркните в каждом из них глагол-сказуемое и определите его видовременную форму и залог. Переведите предложения на русский язык.

1. However, the company had acquired over the year a good reputation with the trade.

2. In some instances the procedure for making decisions will be clear, and we identify certain techniques to help the manager make a decision.

3. The discipline of finance has evolved significantly over the last three decades.

4. This computer was much spoken about.

5. In the long run pickers will be paid in accordance with what they produce.

6. It does not matter whether these bulbs are made in small backyard operation by a family investing its life savings of $20,000 or in large industrial parks that cost $20 million to build.

II. Перепишите следующие предложения, подчеркните Participle I и Participle II и укажите их функции в предложении. Переведите предложения на русский язык.

1. The changes affecting the composition of materials are called chemical changes.

2. When spoken to, he grunted from behind that absorbing project.

3. Visits are made to overseas markets in search of new ideas.

4. An increase in the amount of labor employed in the production process is affected both by the supply of labor and demand for it.

III. Перепишите следующие предложения, подчеркните в каждом из них модальный глагол или его эквивалент. Переведите на русский язык.

1. The level of unemployment should be as low as possible.

2. The primary objective of the policy maker must be to ensure a standard of living for all citizens that is as high as possible both now and in the future.

5. Прочитайте и письменно переведите текст.

1. The success of failure of a business is, to a large extent, dependent upon how its managers perform in terms of financial controls, marketing, strategy, product design, research and development, etc. A great deal of time and effort is spent by successful firms in ensuring that the right decisions are made in a competitive environment with the greatest attention being paid to the immediate environment in which the firms are operating to the work force, to the production line, to the market place for products, to direct competitors. This immediate environment is described as the microeconomic environment of a firm and involves prices, revenues, costs, employment levels and so on.

2. There are, however, other facts of a firm’s environment of which the most notable comprise the general social and economic conditions of the larger system of which each firm forms a part. Changing social values (for example, with regard to the natural environment) combined with social movement powerfully condition economic activity and, hence, the way in which companies are operated by the managers and workers within them. The political and legal frameworks of a country also have a significant import upon the business sector and the way in which firms attempt to carry out their activities. Inevitably, our attention will be focused mainly on the more direct economic facets of the firm’s wider environment that is macro economy. In contrast to the micro economy, this refers to the factors which are external to the immediate environment of the firm: it involves changes in general inflation and employment, for example, rather than changes in the firm’s own product prices and work force. Macroeconomics, therefore refers to the aggregate national and, increasingly, international economy of which the firm is submit.

VARIANT 8

I. Перепишите следующие предложения, определите в каждом из них видовременную форму и залог глагола-сказуемого. Переведите предложения на русский язык.

1. A lot of letters and cables are typed and sent to customers every day.

2. Yesterday an important contract was signed.

3. Under the contract a new project will be constructed next year.

4. This minor accident has not brought about any consequences.

5. The cheque was drawn up and paid at once.

II. Перепишите следующие предложения и переведите их на русский язык, обратив внимание на разные значения слов it, that, one.

1. Unfortunately, it was not entirely satisfactory.

2. One must consider not only wage rates but labour costs.

3. The supplier informed the customer that they must be ready to transport heavy and oversized equipment in six months.

III. Перепишите предложения и переведите их на русский язык, обратив внимание на разные значения глаголов to be, to have, to do.

1. The remaining money was to be transferred to their account.

2. This information does not add to your knowledge of the market situation.

3. The advance is to be paid in hard currency.

4. The bank had to extend credit to the company.

IV. Перепишите следующие предложения и переведите их на русский язык, обращая внимание на бессоюзное подчинение.

1. The schools and hospitals they provide are essential.

2. The goods and services people produce are very useful.

3. The work he undertook was useful but non-essential.

V. Перепишите следующие предложения и переведите их на русский язык, определите в них функции инфинитивов.

1. The contractor had the right to engage only the companies operating in the country.

2. We regret to remind you of your obligations.

3. To achieve good results in work our actions must be well coordinated.

4. Nor can you afford to skip any preparatory stages; you will still have to decide what the job is and what sort of person you want, so that the agency can do their job.

VI. Перепишите и письменно переведите текст.

THE ECONOMIC ENVIRONMENT

The economy comprises millions of people and thousands of firms as well as the government and local authorities, all taking decisions about prices and wages, what to buy, sell, produce, export, import and many other matters. All these organizations and the decisions they take play a prominent part in shaping the business environment in which firms exist and operate.

The economy is complicated and difficult to control and predict, but it is certainly important to all businesses. You should be aware that there are times when businesses and individuals have plenty of funds to spend and there are times when they have to cut back on their spending. This can have enormous implications for business as a whole.

When the economy is enjoying a boom, firms experience high sales and general prosperity. At such times, unemployment is low and many firms will be investing funds to enable them to produce more. They do this because consumers have plenty of money to spend and firms expect high sales. It naturally follows that the state of the economy is a major factor in the success of firms.

However, during periods when people have less to spend many firms face hard times as their sales fall. Thus, the economic environment alters as the economy moves into a recession. At that time, total spending declines as income falls and unemployment rises. Consumers will purchase cheaper items and cut expenditure on luxury items such as televisions and cars.

Changes in the state of the economy affect all types of business, though the extent to which they are affected varies. In the recession of the early 1990s the high street banks suffered badly. Profits declined and, in some cases, losses were incurred. This was because fewer people borrowed money from banks, thus denying them the opportunity to earn interest on loans, and a rising proportion of those who did borrow defaulted on repayment. These so-called “bad debts” cut profit margins substantially. Various forecasters reckoned that the National Westminster Bank’s losses in the case of Robert Maxwell’s collapsing business empire amounted to over $100 million.

No individual firm has the ability to control this aspect of its environment. Rather, it is the outcome of the actions of all the groups who make up society as well as being influenced by the actions of foreigners with whom the nation has dealing.

VARIANT 9

1. Перепишите следующие предложения и определите в каждом из них видо-

временную форму и залог глагола. Переведите предложения на русский язык.

1. The financial industry was plagued with problems so the federal government

decided to take some banks over.

2. The federal deficit began heading upward again in 1992 due to controlling

rents on dwellings.

3. In the 1990s other sectors of the economy such as computers, export industries

showed signs of continuing growth.

4. Products are made and services are provided in response to consumer needs

and wants.

5. The firm has a lot of contracts, some of them having been signed after the talks.

II. Перепишите предложения, найдите в них Participle I и Participle II, определите функции каждого из них. Переведите предложения на русский язык.

1. Coming to the office she saw that the meeting had already begun.

2. A letter sent from St.Petersburg today will be in Moscow tomorrow.

3. The broken arm was examined by the doctor.

4. Being busy he postponed his visit.

5. As the book was translated into Russian, it could be read by everybody.

III. Перепишите следующие предложения и переведите их на русский язык, обращая внимание на бессоюзное подчинение.

1. The work we all do is called economic activity.

2. The schools and hospitals they provide are essential.

3. The goods they wanted were essential minerals.

IV. Перепишите следующие предложения, в каждом из них найдите модальный глагол или его эквивалент. Переведите предложения на русский язык.

1. The work must have been carried out in secret for quite a long time.

2. You need not have done this work alone.

3. You should take all the money to the bank.

4. It was a very important meeting and we were to attend it.

5. Although he felt unwell, he had to attend the meeting.

V. Переведите текст на русский язык.

Market structure is the process by which the final product is sold to the end-consumer. In very simple markets, there will be only the business producing the goods and the final consumers buying directly from the manufacturer. But many markets are much more complex and there are several links in the selling chain before the final consumer is reached. As well as businesses selling direct, there could be a network of distributors, and yet another layer of agents or dealers before reaching the retail outlets and the consumers.

You need to know how your particular market works (that is, you are selling to your end-users), once you have fixed the selling price and estimated the number of units you can sell, you know the value of the sales. Your forecast profit will depend obviously on the cost of the direct selling as well as all the other costs and overheads. Because direct selling can be an expensive burden, especially for a small business, many try to sell through other business. Or this may be the way that the market is already organized. In this case, your selling price to the distributor or network has to be low enough to allow the distributor to earn the required income and still to the consumer at the right price.

Any study of market structure can only apply at the time the study is made, because distribution networks are constantly evolving. The research should help you formulate your own sales plan. If there are many end-users with a ready-established distribution network, you may decide to sell via the distributors or agents and encourage sales to end-users by advertising. However, if you are aiming at a few, large consumers, direct selling may be the answer.

VARIANT 10

I. Перепишите следующие предложения, определите в каждом из них видовременную форму и залог глагола-сказуемого. Переведите предложения на русский язык.

1. Money is used in one-half of almost all exchange.

2. In the UK the government takes nearly 40 per cent of national income in taxes.

3. Many economists specialize in a particular branch of the subject.

4. People can hold their wealth in various forms – money, bonds, equities and property.

5. The unemployed are paid certain benefits.

II. Перепишите следующие предложения и переведите их на русский язык, обратив внимание на разные значения слов it, that, one.

1. Thus, it is important that the control of inflation should be given priority in government policy.

2. Ford realized that what the US wanted in the early 1900s was inexpensive automobile transportation.

3. One should agree that that car was not expensive.

III. Перепишите предложения и переведите их на русский язык, обратив внимание на разные значения глаголов to be, to have, to do.

1. To be accepted in exchange, money has to be a store of value.

2. They do not bother about the costs.

3. Henry Ford said: “Our policy is to reduce the price; extend the operations and improve the product.

4. From time to time people have to exchange money.

IV. Перепишите следующие предложения и переведите их на русский язык, обращая внимание на бессоюзное подчинение.

1. The goods and service the company produces are very expensive.

2. The work she had done was necessary.

3. What is the name of the report you are writing?

V. Перепишите следующие предложения и переведите их на русский язык, определите функцию инфинитива.

1. The problem, however, is that when the rise in prices starts, it is difficult to stop it.

2. We say that unemployment exists where people capable and willing to work are unable to find suitable paid employment.

3. England was the first country in the world to experience industrialization.

4. In 1814 David Ricardo retired from business to devote all his time to international trade.

7. Перепишите и письменно переведите текст.

CAN INFLATION BE BENEFICIAL

We would be simplifying the impact of inflation on business if we suggested that all effects were unfavorable. There is a school of thought, which argues that a low and stable rate of increase in the price level can be beneficial. It believes that a steady rise in money profits produces favorable expectations and induces investment as firms seek to expand. This action expands the economy as a whole. Paradoxically, inflation can also reduce the costs of business in the short run. Many enterprises incur costs, which are fixed for some period of time – for example, the rent of a factory may be fixed at a particular figure for a few years. At a time when the selling price of the firm’s product, and hence its sales income, is rising this cost will be falling in real terms and thus stimulating the business.

There is a further argument that firms may be persuaded to borrow heavily in a period of inflation since the burden of repaying loans is reduced by inflation. If inflation is running annually at 10 per cent, for example, then the real value of the repayments of the loan will fall by approximately that amount each year. This may serve to encourage investment which, since it is an injection into the circular flow, will promote the level of activity. However, in these circumstances interest rates are likely to be high.

Government will accept that low rates of inflation are likely to exist in many economies. Inflation rates of 5 per cent or below are not considered to be too great a problem, especially if competitor nations are suffering similar rates.

In spite of the above, the conclusion must be drawn that inflation is, in general, harmful to business and its environment. Indeed, many economists would contend that inflation is the fundamental evil as its presence leads to lack of competitiveness and therefore relatively high unemployment and low rates of growth. This viewpoint has gained in credence in government circles over the last few years. It is for this reason that its control has been a major objective of government economic policy throughout the 1980s and early 1990s.