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Vocabulary

personal expenditure — личные затраты

agent — агент, участник экономической деятельности

market economy — рыночная экономика

interaction — взаимодействие

to populate — населять

to constitute — составлять

consumer – потребитель

to result in - приводить к чему-л.

producer - производитель

pattern - структура, характер

to represent - представлять, быть представителем

consumer expenditure - затраты на потребление

level - уровень

opposite - противоположный, обратный

household - семейная единица, домашнее хозяйство

consumer preferences - предпочтения потребителей

consumer goods - потребительские товары

basic goods - основные товары

to save - экономить, копить, откладывать

luxury - роскошь, предмет роскоши

variable — переменная величина

to distribute – распределять

to have an impact - оказывать воздействие

to affect - оказывать воздействие

to cause — вызывать, быть причиной

to effect - воздействие, влияние

living standard - жизненный уровень

1. Write the transcription and train the pronunciation of the following words. Memorize them.

agent whose constitute purpose

typically earn distribute variety

naturally increase expenditure preference

quality however luxuries circumstances

foreign amount vari­able employment causes opportunities higher opposite

2. Practice the reading of the following groups of words.

market economy

eco­nomic agents

variety of goods

a rise in its price

spend their income

there are different factors

consumer expenditure

increase in consumer spending

ex­penditure on basic goods

employment opportunities

for instance

real income

in analyzing

are of little use

want to have

3. Read, translate, make the following sentences negative.

  1. The modern market economy is populated by three types of economic agents.

  2. Consumers spend their income to buy consumer goods and services.

  3. There are different factors affecting this decision.

  4. The price will have the opposite effect.

  5. Some customers wanted to have high-quality products.

4. Read and translate the following sentences. Make them passive.

  1. Consumers spend their income to buy consumer goods and services.

  2. There are different factors affecting this decision.

  3. A fall in the price of a good or service will increase the consumption of it.

  4. Consumer spending creates new employment opportunities.

  5. Consumer distributes the income earned by him

5. Read, translate, make the following sentences active.

  1. The modern market economy is populated by three types of economic agents.

  2. The pattern of consumer expenditure is also influenced by tastes, consumer preferences and family circumstances.

  3. A variety of goods and services are offered in the market.

  4. The decision is affected by several factors.

  5. The level of economic activity is influenced by the amount spent on goods and services.

6. Compile special and negative questions to the following sentences. Translate them.

  1. The main purpose of the economy is to produce goods and services for the satisfaction of the needs of consumers.

  2. The increase in consumer spending creates new employment opportunities and causes better living standards.

  3. The pattern of consumer expenditure is also influenced by tastes, consumer preferences and family circumstances.

  4. The fall in the price of a good or service will increase the consumption of it.

  5. Some customers want to have high-quality products.

7. Find in the text sentences containing the following Participles and translate them into Russian in writing.

- ... consumers ... representing

- ... the income earned by him

- ... goods and services offered

- ... factors affecting

- ... the amount spent....

8. Translate the phrases into English and compose sentences with them.

1. люди, зарабатывающие деньги; деньги, заработанные людьми;

2. клиент, открывающий счет в банке; счет, открытый в банке;

3. покупатель, приобретающий товар; товар, приобретенный покупа­телем;

4. покупатель, оплачивающий товар; товар, оплаченный покупателем;

5. лицо, берущее деньги взаймы; деньги, взятые взаймы;

6. лицо, погашающее ссуду; ссуда, погашенная клиентом.

9. Answer the questions on the text.

1. What economic agents interact in the market?

2. What is the main purpose of the economy?

3. How do consumers spend the income they earn?

4. How do prices influence consumers' decisions?

5. How does a rise in real income affect consumers' decisions?

6. Is it reasonable to use the terms "necessities" and "luxuries" analyzing consumer expenditure?

7. Why does consumer expenditure have a big impact on the level of eco­nomic activity?

10. Read the text. Fill in the correct form of the participle. Say how the business started. Explain the success of the business.

Three years ago my aunt died ... (leaving/left) me some money in her will. I borrowed some money from my friend ... (promising/promised) to return it as soon as possible. I turned to the bank... (asked/asking) them to lend me some money. Besides, I had a saving account with the bank... (bringing/brought) me interest on my savings. The new shares ... (offered/offering) to me by my agent gave me good results that year. The dividends ... (paid/paying) to me were more than I expected.

So having collected the money I was able to start my own business, mak­ing leather goods. I worked like a slave, but it was worth it. Now my business is doing quite well.

I'm competing quite successfully with other firms ... (established/estab­lishing) in the market. To be a success you must be ahead of your competitors. So I try to understand the people buying my leather goods and to study the market. I think that customers are always looking for new products ... (based/ basing) on new technology I'm sure I have the capability to produce the ... (needing/needed) product.

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