Text 8. Mixed economies

Command and market economies both have certain faults. Partly because of this, an intermediate system has developed, known as mixed economy.

This economy contains elements of both market and planned economies. Some resources are controlled by the government while others are used in response to the demands of consumers.

The aim of mixed economies is to avoid the disadvantages of both systems and to enjoy the benefits that these systems can offer.

Vocabulary

to avoid the disadvantages – избегать недостатков

to control - контролировать

to develop – развивать

to enjoy the benefits – пользоваться преимуществом

faults – недостатки

intermediate – промежуточный, средний

to offer – предлагать

TASKS

Task 1. Form the nouns with the oosite meaning using the prefix “dis”. Translate the words.

Model: advantage – disadvantage

arrangement

connection

comfort

like

respect

pleasure

Task 2. Give anonyms to the following words:

to avoid

to consume

to demand

fault

disadvantage

producer

Task 3. Find Russian equivalents to the following:

1. an intermediate system has developed;

2. some resources are controlled by the government;

3. in response to the demands of consumers.

Task 4. Finish up the following sentences. Translate them into Russian.

1. Command and market economies both have … .

2. This economy contains … .

3. The aim of mixed economies is … .

Task 5. Find in the text modal verbs, if any. Translate the sentences. What other modal verbs do you know?

Task 6. Translate the following sentences with modal verbs into Russian.

1. The level of accuracy in measurement may differ very widely.

2. When I was an area manager, I could visit five customers a day.

3. Charges in the quantity of money may have an impact on prices.

4. All invoices must be paid at once.

5. The company shouldn’t waste any more time on this project.

6. We can consider this matter at our next meeting. It isn’t pressing; we needn’t discuss it today.

Task 7. Answer the following questions.

1. What is mixed economy?

2. What is the aim of mixed economies?

3. Why has an intermediate system developed?

Text 9 The law of demand

Demand is a consumer’s ability and willingness to buy a commodity or service at a particular time and place.

The law of demand describes the relationship between prices and the quantity of goods and services that could be purchased at each price.

It says that in case of equal situations more items will be sold at a lower price than at a higher price.

Vocabulary

ability – способность

commodity – товар

consumer – потребитель

law of demand – закон спроса

to purchase – покупать

quantity – количество

willingness – готовность

TASKS

Task 1.What law is mentioned in the text?

Task 2. Look through the text and find irregular verbs. Give their forms.

Task 3. Form degrees of comparison from the following adjectives:

Model: low – lower – the lowest

high

big

large

simple

easy

busy

Task 4. Which one isn’t the same?

1. commodity, goods, particular, price;

2. low, high, service, equal;

3. demand, service, at, relationship.

Task 5. Find in the text the beginning of the sentences and translate them into Russian.

1. …. is a consumer’s ability and willingness to buy a commodity or service at a particular time and place.

2. …. describes the relationship between prices and a quantity of goods and services that could be purchased at each price.

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

1. a person who buys goods, products for his own use, not for business

(m o c u s e n r);

2. the amount of money for which something is bought, sold ( r e c p i );

3. the total amount of a type of goods or services that people or companies buy in a particular period of time ( n m a d e d ).

Task 7. What is demand?

2. What does the law of demand describe?

3. What does it say?