Text 6 Planned economies

Planned economies are also called “command economies” because the state commands the use of the resources (labour and factories) that are used to produce

goods and services as the state owns factories and land.

Planned economies are economies with a large amount of central planning and direction.

The state decides what the nation is to produce and works out plans five years ahead.

Vocabulary

central planning and direction – центральное планирование и руководство

command economy – «командная экономика»

to own – владеть

to produce - производить

state – государство

to work out plans – разрабатывать планы

TASKS

Task 1. Find Russian equivalents to the following.

1. … are also called “command economies” … ,

2. … as the stste owns factories and land.

3. … a large amount of central planning and direction.

4. … what the nation is to produce … .

Task 2. Find in the text English equivalents for the following:

1. плановая экономика;

2. имеющиеся в распоряжении ресурсы;

3. планировать на 5 лет вперед;

4. значительное количество;

5. государству принадлежит земля и фабрики.

Task 3. Use a dictionary and translate the following phrasal verbs.

to work for

to work on

to work out

to work over

Task 4. Fill in the gas with the words from the text.

1. … economies are called “command economies” because … commands the use of … .

2. … as the state … factories, land.

3. planned economies are … with a large … of central … and … .

Task 5. Put up questions to the underlined words in the following sentence.

The state decides what the nation is to produce and works out plans five years ahead.

Task 6. Find synonyms among the given words.

large, receive, different, natiobn, broad, common, fairly, selection, error, choice, constant, mistake, big, basic, rather, product, wide, get, general, make, various, country.

Task 7. Find anonyms among the following words.

different, broad, old, sdistant, large, long, receive, advanced, little, abcient, true, narrow, same, near, backwards, false, lose, modern, young, short.

Task 8. Answer the following questions.

1. Why are planned economies called “command economies”?

2. Who commands in such countries?

3. Why does the state command?

4. Why are these economies called planned?

5. What kind of plans are worked out by the state?

Text 7 Market economies

In a true market economy the government plays no significant role in the management of the economy. The system is based on private enterprise with private ownership of the means of production and private supplies of capital.

Since all firms are privately owned they try to make the largest profits possible.

Vocabulary

to make the largest profits possible – получать наибольшую возможную прибыль

management of the economy – управление экономикой

means of production – средства производства

private enterprise ( entrepreneurship) – частное предпринимательство

private supplies of capital – частный капитал

private ownership (property) – частная собственность

significant role – существенная роль

TASKS

Task 1. Find in the text the adjective which characterizes this economic system. How many times is it used?

Task 2. Form the adverbs. Mind the exceptions of the rule.

Model: private – privately

large

international

significant

natural

mental

economical

hard

late

fast

Task 3. Give corresponding verbs to the following nouns:

management

ownership

market

supply

production

profit

analysis

economy

consumption

Task 4. Fill in the gaps with the words and expressions from the text:

1. In true market economy …. plays … significant … in the … of the economy.

2. The system is based on …. …. with private …. of the means …. …. and …. supplies …. …. .

Task 5. Find in the text English equivalents for the following:

1. рыночная экономика;

2. управление экономикой;

3. частная собственность на средства производства;

4. максимально высокие прибыли.

Task 6. Arrange the letters in brackets into terms of the given definitions.

1) the production, buying, selling of goods and services for profit (s n u s b I s e);

2) the activity or skill of directing and controlling the work of a company or organization ( a g m n t e m a n e)

3) to gain money from an event, selling something ( o p t I r f)

Task 7. Match the Russian word combinations in column B with the English ones in column A.

A.

in private

private property

private enterprise

a private account

private information

one’s private life

В.

личная жизнь

конфиденциальная информация

личный счет

частная собственность

частным образом, неофициально

частное предприятие

Task 8. Answer the following questions.

1. What role does the government play in a true market economy?

2. What is this system based on?

3. Who owns the means of production?

4. What’s the aim of all private firms?