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V. Перепишите следующие предложения, выбрав причастие I или причастие II. Переведите предложения на русский язык.

  1. Gift giving is sometimes an integral part of the negotiation process when doing/done business abroad.

  2. When planned/planning a merger, two powerful corporations should achieve absolute compromise to get advantage from the deal.

  3. Changing interest rates is a method using/used quite frequently for slowing down or speeding up the economy.

  4. Aggregate demand, making up/made up of many things, behaves in the same way as demand for a single product.

  5. Some banks break the law not conducting/not conducted operations in which they could lose their money or operations with low profitability.

VI. Прочитайте текст. Перепишите и письменно переведите абзацы №1,2,3,4. The Mixed Economy

1. A mixed economy uses elements of both the planned and market systems to allocate resources. There is a private sector, which allocates resources according to the market mechanism, and a public sector, which is under the control of the government.

2. In Britain since the Industrial Revolution an increasing amount of government intervention has been accepted in a basically private enterprise system, although this trend has been reversed by the Conservative government elected in 1979. At present just under half of all economic activity is directed in some way by the state.

3.The Private Sector The private sector accounts for the largest proportion of all goods and services produced in Britain. There are hundreds of thousands of private businesses, from large multinational companies such as British Petroleum to small family businesses and individual traders. These businesses exist to operate at a profit by selling goods and services to the general public. They therefore operate according to market forces.

4. However, there are certain problems associated with leaving economic activity entirely to the private sector. The profit motive does not always lead to the best use of resources. The principal problems which occur in the market system are as follows:

5. There are certain goods and services which cannot be provided by a free market. These goods are known as public goods as they have to be provided to all consumers or not at all. Examples of public goods are national defence, the police force, street lighting and so on. Therefore these goods are provided by the state, which has the power to charge all consumers through the taxation system.

6. In addition to public goods there are goods which the government believes should be available to all but which not everyone would pay for if they were given the choice. These are known as merit goods because of the high value placed upon such goods. Examples may include the National Health Service, education, Social Service provision and so on. In Britain many of these merit goods are provided by the state and financed by taxation.

7. Some industries may be seen as too important to be left entirely in private hands because of their relationship to the whole economy. The government has always exercised some involvement in agriculture to prevent violent price fluctuations and to ensure long-term continuation of supply. Similarly, areas such as transport and basic industries, e.g. coal and steel, have always been regarded as too important to be left completely to the free market. Some of these industries have been taken under direct state control and others are carefully regulated.

8. These and other considerations have gradually led to a significant proportion of economic activity being undertaken by the state. It is this economic activity which constitutes the public sector of the economy.

9.The Public Sector The public sector consists of all economic activity under the control of the state, at both national and local level. Government economic activity can be divided into 2 broad types:

10. The direct provision of services. The government levies taxes on the private sector and uses the revenue to provide certain national services. These are mainly public goods, and merit goods. These services are provided by the various departments of government at both national and local level, e.g. by the Ministry of Defence, the Departments of Health and Social Security and Local Education Authorities. This means that these services are under the direct political control of ministers and local councillors.

11. The indirect provision of goods and services. The government can set up bodies to undertake various aspects of economic activity on behalf of the public. The nationalized industries have been set up to run certain key industries, e.g. railways, postal services. One of the main reasons for the establishment of such organizations is to take natural monopolies under state control.