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Английский. электронный вариант.doc
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    1. 5. Fill in the blanks with appropriate words: "investors", capital, money, net worth, customers, bonds, a security exchange, long-term financing

  1. ... is the difference between assets and liabilities.

  2. Similarly, firms need ... to begin operation, to meet their day-to-day expenses and to expand.

  3. ... charge purchases to their accounts for payment at a later date.

  4. ... is money that will be used for a year or more.

  5. Many large corporations raise long-term capital through the sale of their ....

  6. Corporations sell stocks and bonds as a way of raising ...

  7. ... is a market where brokers meet to buy and sell stocks and bonds for their customers,

  8. Those who buy stocks to share in the profits and growth of a corporation over a long period of time are described as ....

Lesson 7

    1. 1. Read and translate the text in written form.

    2. a)

Now the process of sharing this national income, among those who helped to produce it, is called distribution. A large share goes to the workers in the form of wages or salaries. But there are other groups who receive their rewards for their part in the productive prices. There are the owners of natural resources who receive their rents; there are the capitalists who get interesting their bonds or mortgages; and there are the entrepreneurs or operators of enterprises whose reward is in the form of profits.

Total disposable income is not exactly the same as total national income. Most of the disposable income is used in the purchase of goods and services. But part of it represents personal savings. People cannot dispose of the full amount that they have earned by their labour or by their investments as they may wish, because of heavy direct taxes, chiefly income taxes. On the other hand, some families are able to add to their disposable incomes by receiving pensions or family allowances from the government. To sum up, disposable income refers to the total income that people are actually free to spend or save as they choose.

    1. b)

Most businesses need capital in order to start productive work, and the capital pays for the accommodation, machinery and other items, which the business needs. There is always an element of risk in providing capital and starting a business. The business may not be successful. The employers and the providers of capital bear the risk. If the business is successful, the risk has been justified and the invested capital earns part of the profits as a return on the investment.

The capital which people provide to help new businesses is an accumulation of previous surpluses on previous business activities. In this way the past is used to finance the future. Such capital is accumulated by a deliberate policy of saving surpluses. This policy may be personal and individual, or it may be public and collective. A certain part of the profits is “ploughed back” into the system in order to create capital.

In general terms, capital can be defined as (1) a factor of production (for example, machinery or cash); (2) the assets possessed by a person, a company or a nation. Land, houses and shares in a business are capital. In terms of the state, all railways, docks, roads, airports and state funds of money are part of the nation’s capital.

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