I variant – 8, 10, 12; II variant – 5-7.
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Exercise 4. Answer the questions.
1.What is the United Kingdom composed of? ______________________________
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2. What type of the economy does Great Britain have? ________________________
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3. What does the government do to make the British economy more efficient?
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4. What has been a key part of British economy for centuries? __________________
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5. What has its prosperity been dependent upon? ___________________________
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6. What are the country’s chief exports? ___________________________________
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7. What are the leading imports? __________________________________________
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8. What main trends do you know that have affected Britain’s economy?
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9. What do primary industries deal with? __________________________________
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10. What industries does manufacturing include? ____________________________
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What do service industries provide? __________________________________
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Exercise 5. Put special questions to the text.
Britain has already completed its transformation into a modern service economy.
The Bank of England, as the central bank, was nationalized in 1946. It is responsible for the monetary policy of the country and also manages the country’s foreign exchange and gold reserves.
Great Britain has 17 major commercial banks with more than 17.000 domestic and overseas branches. Most of them are offices of the largest banks: HSBC, Royal Bank of Scotland, Barclays Bank, Lloyds TSB. There is also a government-run savings bank called National Savings and Investments.
The pound sterling (&1) is the basic unit of currency in Britain. The European Union established the euro as its unit of currency, and other EU members made the transition to the euro between 1990 and 2002. However, the British government decided not to adopt the euro and to keep the pound as its currency.
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