Vocabulary

to own and run (to manage, to operate) businesses – владеть, управлять бизнесом

to intervene -вмешиваться

private ownership (property) of the means of pro­duction – частная собственность на средства производства

public property, common ownership – общественная собственность

state-owned property, state ownership – государственная собственность

private supplies of capital – частный капитал

surplus income available for investment in new business activities – дополнительный доход (излишек дохода), который можно вложить (инвестировать) в новое дело (бизнес)

employer – работодатель

employee - служащий

employment - занятость

unemployment – безработица

to persuade -убеждать

to adjust automatically – автоматически приспосабливаться, приводиться в соответствие

competitive - конкурентоспособность

to make the largest profits possible - получить наибольшую возможную прибыль

to pursue one's own interests – преследовать свои интересы

to make money out of it – заработать деньги на этом

to move the production possibility frontier outwards продвинуть вперед предел своих возможностей

to make the society better-off – сделать общество более состоятельным

to create new jobs and opportunities – создать новые рабочие места, новые возможности

to underpurchase – недостаточно раскупать

to provide free or subsidized supplies – обеспечивать бесплатное или субсидированное (дотированное) предоставление товаров (услуг)

a cornerstone – краеугольный камень

to alter swiftly – быстро меняться

consequences - последствия

labour-intensive production – трудоемкое производство

large-scale intervention – широкомасштабное вмешательство

to pass laws – принимать законы

to gain sufficient sales – добиться достаточного объема продаж

rival firms – фирмы-конкуренты, соперники

to have confidence – иметь уверенность

to lack confidence – не хватать уверенности

III. Find Russian equivalents to the following.

1. new advanced products;

2. products which are favoured;

3. they try to make the largest profits possible;

4. provide free or subsidized supplies;

5. produce goods and then advertise heavily;

6. a firm which switches from labour-intensive production to a new one;

7. a decline in the prosperity of the nation.

IV. Find the synonyms for the works in italics.

businesses owned and run by the state;

products and services, which are favored;

at first view,

production alters swiftly

V. Fill in the gaps with the words and expressions from the text.

1. The system is based on ... with ... of ....

2. Private supplies of capital can be defined as ... available far ... in ...

3. Consumers are willing to spend more an products and services, which ....

4. More profits will ... more firms to produce those particular goods that are favored.

5. In a market economy it is ... who decide what is to be produced ..

6 .... firms see the opportunity .of ... and produce the new fashionable and favored products.

7. The economy ... automatically to meet changing demands.

8. Firms tend to be highly ... in such an environment.

9. In a free market individual people are free ....

10. But when you have that car produced, you are moving ....

11. You actually make ... by ... , every though you became a millionaire in the process, and you do it without ...

12. Same goods would be ... if the government did not provide ... supplies.

13. Same .other goods and services, such as defense and policing, are impassible to ... in response to consumer spending.

14 .... .of the market system is that production ... to meet changing demands.

15. If a firm switches from ... to .one where new technology ... in the factory, it :can lead to ... and .... problems ..

16. A recession means ... spending, ... jobs and ... of the nation.