Переводим тексты по экономике = Translating Economy. Практикум

innovation + Noun: process Prep. + innovation: ~ in innovation in engineering ~ by

Mathematical astronomy was the great innovation by the Greeks of the 5th century BC.

~ in

innovations in machinery and instruments

Phrases + innovation: scope for innovation technological innovations designed to save energy.

11. Give a written translation of the following extracts from English into Russian:

1.There seems to be a lot of correlation between economic growth and human development. This can be explained by a simple example in an economy. We shall consider economic growth as a prerequisite for economic development. Assume we have a household in an economy that ekes their livelihood from a horticultural firm. Economic growth will bring business opportunities to the country and the effects spills over to all sectors of the economy. The firm will increase its profits which will in turn be used to pay for their generation education, improve the access to health care for that family and will increase the general living standard of the family. If this effect is replicated in each household overall economic development will be achieved.

2.Economic development leads to improvements in many sectors of a nation. There are a variety of indicators that economist use to measure the level of economic development in a country. The indicators are: declining poverty rates, increasing literacy rates, declining infant morbidity and increasing life expectancy. Economic development has to be supported by the whole nation from economists, politicians, and also civilians. Thus it can be concluded that, economic development leads to the creation of more opportunities in the sectors of education, health sector, research, human development and environmental conservation. It equally implies an increase in the per capita income of every citizen.

3.Development economics is a branch of economics that focuses on how to improve the economies of developing countries. Its major concern is the development of third world economies. Development in such countries is met by improving the basic amenities to promote the welfare of its citizen and to maintain a certain set standard of living for all its citizens. The sectors that should be improved according to the development economists are Health sector, education, employment, and inflation, domestic and international economic policies. This branch of economics is specially tailored to the developing country to help them transform into a prosperous nation through progressive economics.

From: http://www.whatiseconomics.org/

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6. Make an English annotation of the text (100–120 words).

7. Translate your English annotation into Russian.

8. Find Russian equivalents to the following words and expressions:

Adj. + market: competitive market, active market, booming market, bullish market, lively market, strong market, thriving market, bull market, rising market, depressed market, dull market, sluggish market, weak market, bear market, falling market, steady market, buyer’s market, seller’s market.

Verb + market: put sth. on market, come on/onto market, develop market, break into market, get into market, penetrate market, capture market, corner market, monopolize corner market, supply corner market, flood corner market, loose corner market, depress corner market, play corner market.

Phrases with market: be in the marker for something, the bottom’s dropped/fallen out of the market, a gap in the market, the bottom/lower/ top/upper end of the market.

9. Give a written translation of the following extracts from Russian into English:

1.В процессе исторического развития рыночного (товарного) хозяйства изменялось понимание рынка и рыночного механизма, их сущности, изменялся и сам рынок, его механизм, вырастала их роль в экономике. Изначально термин «рынок» означал место, где продавцы и покупатели могли совершать обмен своими товарами. Например, центральная площадь города.

2.Рынок устанавливает ценностные эквиваленты для обмена продуктов. При этом рынок сопоставляет индивидуальные затраты труда на производство товаров с общественным эталоном, т.е. соизмеряет затраты и результаты, выявляет ценность товара посредством определения не только количества затраченного труда, но и количества пользы, которую несет товар для общества.

3.Торги на ключевых фондовых площадках Европы проходят сегодня преимущественно в негативном формате. К середине дня сводный Stoxx Europe 600 Index теряет около 0,5 %. Риски Brexit давят на фондовые активы. Во вторник премьер-министр Великобритании Тереза Мэй выступит с речью, посвященной позиции Лондона в ходе переговоров относительно выхода страны из ЕС.

4.Рынок продавца возникает, когда спрос значительно превосходит предложение. При этом для продавца сбыт не представляет особых трудностей. В условиях избыточного спроса (дефицита) товары все равно будут реализованы. Ему нецелесообразно заниматься какими-либо маркетинговыми мероприятиями, так как это будет означать лишь дополнительные затраты.

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Choice of a pricing strategy is dependent on:

1)Corporate goals and objectives

2)Customer characteristics

3)Intensity of inter-firm rivalry

4)Phase of the product life cycle

Having considered the factors influencing the choice of strategy, let us now turn specifically to different strategies:

1)Skimming Strategies: one of the most commonly discussed strategies is the skimming strategy. This strategy refers to the firm’s desire to skim the market, by selling at a premium price. Skimming refers to the objective of achieving highest possible contribution in a short time. To use this approach, the product has to be unique and the target market should be willing to pay the high price. Success of this strategy depends on the ability and speed of competitive reaction. A firm with a small market share can face aggressive local competition when using skimming. Maintenance of high quality requires lot of resources. If the product is sold cheaply at home, then the problems of gray market can surface.

This strategy delivers results in the following situations:

i) When the target market associates quality of the product with its price, and high price is perceived to mean high quality of the product.

ii) When the customer is aware and is willing to buy the product at a higher price just to be an opinion leader.

iii) When the product is perceived as enhancing the customer’s status in society.

iv) When competition is non-existent or the threat from potential competition exists in the industry because of low entry and exist barriers.

v) When the product represents significant technological breakthroughs and is perceived as a ‘high technology’ product.

In adopting the skimming strategy the firm’s objective is to achieve an early break-even point and to maximize profits in a shorter time span or seek profits from a niche.

2)Penetration Pricing Strategies: as opposed to the skimming strategy, the objective of penetration price strategy is to gain a foothold in a highly competitive market. The objective of this strategy is market share or market penetration. Here, the firm prices its product lower than the others do in competition. Penetration pricing uses deliberate low prices to stimulate market growth and capture market share. It can be useful when there is a mass market and price sensitive customers. Japanese companies increasingly resort to penetrative pricing due to intense local competition.

This strategy delivers results in the following situations:

i) When the size of the market is large and it is a growing market.

ii) When customer loyalty is not high customers have been buying the existing brands more because of habit rather than any specific preferences for it.

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iii)When the market is characterized by intensive competition.

iv)When the firm uses it as an entry strategy.

v)Where price-quality association is weak.

3)Differential Pricing Strategies: this strategy involves a firm differentiating its price across different market segments. The assumption in this strategy is that different market segments do not communicate or have different search costs and value perceptions of the product. In other words heterogeneity in the market motivates a firm to adopt this strategy.

4)Geographic Pricing Strategies: this strategy seeks to exploit economies of scale by pricing the product below the competitor’s in one market and adopting a penetration strategy in the other. The former is termed as second market discounting. This second market discounting is a part of the differential pricing strategy where the firm either dumps or sells below its cost in the market to utilize its existing surplus capacity. So, in geographic pricing strategy, a firm may charge a premium in one market, penetration price in another market and a discounted price in the third.

5)Product Line Pricing Strategies: these are a set of price strategies, which a multi-product firm can usefully adopt. An important fact to be noted is that these products have to be related, in other words belonging to the same product family. Faced with multi-products and fluctuating demand, the firm may adopt a combination of the following strategies to effectively manage its product line or maximize its profits across the product line.

i) Price Bundling: this strategy is used by a firm to even out the demand for its product. This is useful strategy for perishable; time-bound products like food, hotel room or a seat on a flight and for products cannot be substituted, like the package of stereo music system. Off-season discounts and, season tickets for music festivals are examples of price bundling strategy. This is a passive strategy aimed at correctly bundling the prices of related items so that the firm is able to maximize its profits.

ii) Premium Pricing: this strategy is used by a firm that has heterogeneity of demand for substitute products with joint economies of scale. Consider the example of a colour television set. There are different models available with different features, like the one with a remote control and another without it. Both are substitutable and satisfy the customer needs. But the firm may opt to premium price the first model and position it as the top of the product line for high income or upper income group of customers or for whom communicating that “they have arrived” is important.

iii) Image Pricing: this strategy is used when consumers infer quality from the prices of substitute models or competing products. The firm varies its prices over different brands of the same product line. This strategy is commonly used in textiles, cosmetics, toilet soaps and perfumes.

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Verb + price: command price, fetch price, push up price, go for price, slash price, mark down price, undercut price, quote sb. price, bring down price, range in price.

Price + verb: price soars, price skyrockets, price slumps.

Price + noun: price level, price range, price cut, price war, price tag, price list, price index.

9. Give a written translation of the following extracts from Russian into English:

1.Теневые цены, как полагают создатели экономических моделей, следовало бы установить в случае, когда потребители и производители могут учесть внешние издержки и соответствующую прибыль. По системе учета национального дохода рыночные цены – это цены, которые платит потребитель. Цены производителей, равные рыночным ценам минус косвенные налоги и плюс субсидии, соответствуют прямым издержкам.

2.С точки зрения покупателя, цена является мерой, определяющей интенсивность потребности, которую он может удовлетворить, приобретая данный товар. При этом в процессе ценообразования следует учитывать, что покупателя интересует не только и не столько розничная цена, сколько цена потребления — суммарные затраты на приобретение и использование товара с учетом длительности его использования.

3.Решения, принимаемые руководством фирмы в области ценообразования, относятся к наиболее сложным и ответственным, поскольку они способны не просто ухудшить показатели финансово-хозяйственной деятельности, но и привести предприятие к банкротству. Кроме этого ценовые решения могут иметь долговременные последствия для потребителей, дилеров, конкурентов, многие из которых сложно предвидеть и, соответственно, оперативно предотвратить нежелательные тенденции после их проявления.

4.Установление цен в условиях рынка состоит из нахождения такой цены, которая представляла бы собой оптимальный баланс между суммой, которую желал бы заплатить за товар покупатель, и затратами предприятия при его производстве. В процессе установления цены значение затрат не должно превышаться. Затратные методы, которые основаны на ориентации цены на издержки производства, являются одними из наиболее распространенных в ценообразовании. В общем виде их суть состоит в том, что

крассчитанной себестоимости единицы продукции добавляются фиксированный размер прибыли и косвенные налоги.

5.Теоретическая основа калькуляции себестоимости с полным распределением затрат (Absorption Costing, тотальный подход) предполагает, что в соответствии с этой концепцией в себестоимость включаются все

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