Ex. 2. Use the following words to complete the sentences below.

promoted, regulates, export, provided, to import, argued

1. He _________________ a car with a radio

2. If I am not _________________ within the next two years I am going to change jobs

3. Government often ____________________ industry.

4. Britain must try _____________ fewer goods from overseas, so as to help her own industries.

5. They sell to their own country but they don't yet _______________to other countries.

6. We _______________with them about politics

Ex. 3. Find in the text the English equivalents to thefollowing words and word-

combinations.

издавать законы ____________________________________________________

держаться подальше от бизнеса _______________________________________

соревноваться за прибыль ____________________________________________

ограничить экспорт __________________________________________________

поддерживать промышленность _______________________________________

дешевый рабочий труд _______________________________________________

перечислить изделия _________________________________________________

нуждаться в колониях ________________________________________________

затраты на труд и производство ________________________________________

национальный запас золота и серебра __________________________________

правительственное регулирование экономики ___________________________

экспорт превышает импорт ___________________________________________

Ex. 4. Replace the words in italics by synonyms from the text.

1. Mercantilists proved that . . .

2. should support industry by enacting laws . . .

3. keep sales to foreign countries high . . .

4. export prevails import . . .

5. supply of gold or silver . . .

6. European countries needed colonies . . .

7. protected British industry by not allowing . . .

8. to limit imports . . .

9. the government shouldn’t interfere into business . . .

10. let nature be as it is . . .

Ex. 5. Translate into Russian in written form. Economic Individualism – Laissez-Faire

In the late seventeenth century, Louis XIV was reigning as King of France. His finance minister, Jean Batiste Colbert, asked a manufacturer by the name of Legendre how the government might help business. Legendre’s reply was “laissez nous faire” (leave us alone). The expression has become a slogan and motto of market economy.

Today “laissez faire” means absence of government intervention which leads to economic individualism and economic freedom. Under laissez-faire conditions, people’s economic activities are their own private affairs. As consumers, they are free to spend their incomes as they choose. As producers, they are free to purchase economic resources they desire and to use these resources as they wish.

In reality, economic freedom is subject to restraints imposed by society for the protection and general welfare of its citizens.

Comprehension Ex. 6. Say if the sentences are true or false. Correct the false ones.

1. The mercantilists argued that the government shouldn’t support industry.

2. The government should issue laws designed to keep labour and other production costs high,

and exports low.

3. The true measure of a nation's wealth is its hoard of gold and silver.

4. «Favourable balance of trade» describes a situation in which import exceeds export.

5. Colonies could provide the «mother country» with cheap labour, raw materials and a market

for its manufactured goods.

6. The Navigation Acts allowed British colonies to produce any goods they liked.

7. The physiocrats argued that the products of agriculture and other natural resources were the true source of wealth.

8. The federal government should do what it can to promote imports and restrict exports.

9. The 200-year-old argument between mercantilists and physiocratst does not longer exist.