Ex. 1.Translate into Ukrainian

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Ex. 1.Translate into Ukrainian

to classify economic systems, the type of property ownership, can be viewed as a transition, no country belongs wholly at one and or the other, the prime example of private enterprise, two societal units, the key factors that make the market economy, can reduce market procedures, resale of products, relative smallness of each individual shareholder, a wide gap between ownership and control of decision making, market forces have been disrupted seriously, to change occupation in response to supply and demand.

Ex. 2. Find the English equivalents

спосіб розміщення ресурсів, ринкова або командна економіка, вважають, що Сполучені Штати Америки є головним прикладом приватного підприємства, окремі люди володіють ресурсами та споживають продукти, взаємодія ціни, постачання та попит на ресурси та товари, завдяки трьом головним факторам, посилюють контроль над прийняттям рішення, отримали величезні вигоди, обмежувати свободу робітників.

Ex. 3. Complete the sentences

1.The ownership of factors of production can be viewed as … .

2.… two societal units are very important : the individual and the firm.

3. The market mechanism involves … .

4.… has been highly successful in industrial countries, especially in the USA.

5. The large corporations can reduce market procedures somewhat by exerting control ... .

6.… may not be strictly motivated by the market.

7. Labour unions evolved to response to the power exerted by … .

8. ... control entry into the work force and restrict the freedom of workers to change … in response to supply and demand.

Ex. 4. Ask questions to fit these answers

1. In reality no country belongs wholly at one and other.

2. The government actively produces in such sectors of economy as education, the military, the postal service and certain utilities.

3. The market economy has been highly successful in industrial countries.

4. The large corporations can reduce market procedures.

5. Labour unions evolved to response to the power exerted by the owners.

6. Market forces have been disrupted seriously.


Read and memorize the following words and word combinations:

a number of the number of багато; e.g. A number of students are here, кількість; e.g. The number of students is 10.
individuals and businesses фізичні та юридичні особи
to make use of використовувати
is damaged or lost (passive) пошкоджений або загублений
while being transported (passive) при транспортуванні
communication Services служба зв'язку
warehousing складування
insurance страхування; to insure - страхувати
up-to-date сучасний
wholesale and Retail Trade оптова та роздрібна торгівля
lodging, feeding and entertainment of the traveller тут: послуги, як включають повний пансіон та розваги для туриста

National economy

1. Industry provides energy, raw materials and goods.

The Extractive Industry produces coal, oil, gas, iron ore, and a number of other metals and minerals from the ground or sea bed.

The Manufacturing Industry needs these minerals to produce machines and all those goods which the customers need and buy: foodstuffs, non-food stuffs, cars, TV sets, furniture, construction materials and others.

2. However we do not get these goods directly from the factory or plant but buy them in a shop or a department store. They transport and deliver these goods to us by rail, road, air or ship, especially if we import them. This brings us to another field of economy, Commerce, which can be divided into Trade and the Service Industries.

Trade is business of buying and selling commodities and services.. It can be Home Trade when it deals with the customers of a native country, and Foreign Trade, that is, trade between nations in the form of export and import transactions and capital movements. There are two forms of trade: wholesale and retail trade.

The wholesale trade is selling to organizations and individuals, but not final consumers. Some producers don't sell directly to retailers but only deal with wholesalers and give them a bigger discount than retailers.

The retail trade deals directly with consumers who buy goods for then-own use. As to wholesalers they sell goods to businesses and organizations for use in their activities or to other wholesalers, retailers and individuals for resale. Wholesalers deal with transportation, storage goods in warehouses, bank payment mechanisms and lending, market information, and risk bearing (insurance).

A television set is transported several times before we can switch it on in our sitting room. Transport is, of course, a service which industry, trade and consumer make use of. But it is only one of the Service Industries.' Tourism, like transport, is the third largest industry in terms of economic importance and of its capacity to generate employment. The transport and tourism industry is the vast, complex network of business engaged in the lodging, transportation, feeding and entertainment of the traveller.

If the TV set is damaged or lost while being transported, the insurance pays for it. Insurance is a service industry that deals in covering risks of all kinds: damage, loss, fire, and accidents. Industry and commerce depend on up-to-date information. We provide this information with our highly-developed Communication Services like telephone, post, telex, fax-message, E-mail.

We cannot manage without Warehousing where we store and keep goods until their sale.

And finally, banking. It links up with all sectors of national economy. Banking provides different methods of payment and settlement for goods and services; collects money and lends it; finances industry, commerce and direct services, sells foreign currencies; opens ways to find and invest large amounts of funds; deals with all important national and international money and capital markets.

3. Direct Services involve services of doctors, lawyers, teachers, and financial services of accountants, auditors and financiers, which are very important and valuable either for people (consumers) or businesses, that is, for all sectors of national economy.

Exercises in word study:

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