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III. Comprehension and Word Study

1. Translate from English into Russian:

to establish its subsidiaries in foreign markets, to increase the level of productivity, great changes in trade and finance, the main aim of economic globalization, free mobility of capital, sharp reduction in government budgets, wide advertising new consumer products all over the world, low taxes for producers, similar life-styles for people of different nationalities, single currency, foreign trade transactions, a system of social security, in order to attract consumers, advertising of popular goods and services.

2. Join the halves.

A

B

1. The main aim of economic globalization is

a) to privatization of the economy

2. Globalization should lead to a free

b) the single currency will increase trade

mobility of capital as well as

integration

3. Globalization means

c) a company has decided to participate in the

4. Economists think that

global economy

5. Globalization at a business level means

d) to change the world into one dynamic

that

market

6. Nowadays any company may do

e) using the Internet services

e-business

f) international languages

7. Advertising of popular goods and services

g) should reduce any risks in business

is often done in

transactions

8. The introduction of the new currency

h) wide advertising of new consumer

products all over the world

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3. Translate from Russian into English:

Реклама популярных товаров и услуг; введение новой валюты; глобализация мировой экономики; главная цель экономической глобализа­ции; резкое сокращение государственного бюджета; низкие налоги для про­изводителей; похожий образ жизни для людей различных национальностей; смешанная экономика; уровень производства; для того чтобы привлечь потребителей; рекламировать новые товары и услуги как на внутреннем, так и на внешнем рынках.

4. Translate the words and put them in the sentences below.

                  1. globe, globalization, global, globally

                  1. establish, establishment, established, establishing

                  1. advertising, advertise, advertisement, advertiser

                  1. reduce, reduced, reduction, reducing

                  1. introduced, introducing, introduce, introduction

                  1. competitive, competitiveness, compete, competition, competitor

                  1. participator, participation, participate, participating

                  1. promotion, promote, promoter, promoting

                  1. Europe, European, euro

10. circulate, circulating, circulation

                  1. The ... in taxes usually stimulates production.

                  1. Both small and large companies spend money on ... in newspapers or on TV in order to promote their goods and services.

                  1. ... may help people to move from one country to another easily in order to seek for better jobs.

                  1. In order to get more profits companies try to ... goods.

                  1. The ... of the single currency has made transactions between different foreign companies much easier and faster.

                  1. The members of the... Union started to use the... as the single currency in ... in 2002.

                  1. Most countries of Central and Eastern Europe try to join the European Union as... in such a union can provide certain benefits in trade.

                  1. Famous American companies such as Coca Cola, and McDonalds have already ... subsidiaries in Russia and they can successfully ... with domestic producers for consumers.

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