Mark the variant that best completes the sentence.

1.Action must…at once.

a) take b) be taken

c) have taken d) took

2.Yesterday it…not to have a party after all.

a) was decided b) decided

c) was to decide d) has decided

3.The door must … open.

a) is left b) leave

c) be to leave d) be left

4.I’m afraid nothing could... about it.

a) do b) be done

c) be doing d) have done

5.The rule must … to everyone.

a) have known b) be known

c) know d) be knowing

6.Meals cannot … after 11.00 p.m.

a) be served b) serve

c) served d) have served

7.A difficult time can …

a) expect b) is expected

c) expected d) be expected

8.The figures … in Svoboda yesterday.

a) had referred to b) referred to

c) will referred d) were referred to

9.We hope that an agreement ….

a) was arrived b) arrived

c) will be arrived at d) will arrive

10.Brian shouldn’t ….

a) be laughed b) laugh at

c) be laughed d) to be laughed

 

Sequence of Tenses

Test 379

1. Mark the tense form that best completes the sentences.

a) will post

b) am posting

c) had posted

d) was posting

2. She asked me when I…to work.

a) had to go

b) will go

c) have gone

d) will have to go

3. She said it was a stupid idea and it ….

a) doesn’t work

b) will have work

c) wouldn’t work

d) works

4. He told me he … to France.

a) never was

b) had never been

c) will never be

d) would never be

5. He said that he … to Oxford University in the 90s.

a) had been

b) will be

c) has been

d) was gone

6. She said she … help me because she had too much to do.

a) can’t

b) will be able

c) is to

d) couldn’t

7. I thought the play … interesting and decided to go to the theatre.

a) had been

b) is

c) would be

d) will

8. Katarina said she … to Brussels soon.

a) was going

b) went

c) goes

d) will go

9. He said that he … to the theatre the day before.

a) had gone

b) has gone

c) would go

c) was going

10. They told me that she … there in ten minutes.

a) was

b) will

c) would be

d) had been

 

Sequence of Tenses

Test 380

Mark the tense form that best completes the sentences.

1. The teacher explained that classes … the week before.

a) had started

b) start

c) have started

d) would start

2. Nick said that he … her for several years.

a) knows

b) will know

c) had known

d) would know

3. I thought that Tom … her that he intended to go to Germany.

a) tells

b) was telling

c) will tell

d) would tell

4. The old man told me he … in the country all his life.

a) has lived

b) lives

c) is living

d) had lived

5. During the interview they asked Ann if she … to work on Saturdays.

a) will want

b) has wanted

c) was wanting

d) wanted

6. During the interview they asked Ann if she … the job.

a) wants

b) wanted

c) would want

d) had want

7. During the interview they asked John if he … a job before.

a) has had

b) would have

c) had had

d) was having

8. I heard that Kate … a new position at the West Side Clinic.

a) had accepted

b) has accepted

c) is accepting

d) will accept

9. I doubted if she … see my point.

a) will

b) would

c) have to

d) shall

10. The weather forecast said that … in the afternoon.

a) it will rain

b) it would

c) it rains

d) it will be raining

 

Sequence of Tenses

Test 381

Mark the tense form that best completes the sentences.

1. Tom said that he … to Disneyland.

a) has never been

b) had never been

c) was never

d) was never been

2. James said that he … a horse before.

a) never rode

b) has never ridden

c) had never ridden

d) would never ridden

3. We hoped that he … attend school.

a) will be able

b) would be able

c) has been able

d) is able

4. The policeman asked me if I … the car accident.

a) have seen

b) saw

c) had seen

d) had been seen

5. My parents decided that we … my birthday on Sunday.

a) would celebrate

b) shall celebrate

c) celebrated

d) celebrate

6. Nick hoped that his friend … him with his car.

a) would help

b) will help

c) helped

d) helps

7. We didn’t know the score, but we were our team … the game.

a) hasn’t lost

b) hadn’t lost

c) didn’t lose

d) doesn’t lose

8. Yesterday Tom heard that his aunt … for five days.

a) was ill

b) has been ill

c) had been ill

d) is ill

9. The children were afraid of making any noise – Mom ….

a) was sleeping

b) slept

c) had been sleeping

d) is sleeping

10. He gave all his money to me because he … me.

a) would trust

b) trusted

c) had trusted

d) trusts

 

Числівники: дроби, дати.

Ex: 1. Read and write the following cardinal numerals:

a) 3, 13, 30, 4, 14, 40, 5, 15, 50, 2, 12, 20;

b) 21, 82, 35, 44, 33, 55, 96, 67, 79, 41;

c) 143, 258, 414, 331, 972, 205, 101, 556;

d) 1,582; 7,111; 5,612; 9,444; 4,040;

f) 235,142; 978, 218; 106,008; 321, 103; 627, 344;

 

Ex: 2. Read and write the following dates:

9/III.1814; 22/VI.1941; 9/V.1945; 23/II. 1928; 12/IV. 1961; 27/X.1966; 30/ XI. 1982; 24/ VIII. 1991; 1/ XII. 2000; 28/ VI. 2004.

 

Ex: 3. Answer the following questions:

1. How much is 17 plus 19? 2. How much is 25 plus 32? 3. How much is 120 plus 205?

4. How much is 13 minus 4? 5. How much is 200 minus 45? 6. How much is 7 multiplied by 8? 7. How much is 42 divided by 6?

 

Ex: 4. Read and write out in words the following common and decimal fraction:

a) 1/7, 1/5, 1/9, 1/3, 1/12, 1/15, 1/25, 3/8, 4/7, 9/23, 3/4;

b) 3.5, 2.34, 12.3, 52.51, 0.1, 0.25, 0.302, 132.054, 5.37, 6.4.

 

Ex: 5. Read and write out in words the following common and decimal fraction:

a) 1/7, 1/5, 1/9, 1/3, 1/12, 1/15, 1/25, 3/8, 4/7, 9/23, 3/4;

b) 3.5, 2.34, 12.3, 52.51, 0.1, 0.25, 0.302, 132.054, 5.37, 6.4.

 

Розділ 3

3. 1 Тексти для читання та синхронного перекладу.

THE ECONOMIC ENVIRONMENT (ЭКОНОМИЧЕСКАЯ СРЕДА)

The economy comprises millions of people and thousands of firms as well as the government and local authorities, all taking decisions about prices and wages, what to buy, sell, produce, export, import and many other matters. All these organizations and the decisions they take play a prominent part in shaping the business environment in which firms exist and operate.

The economy is complicated and difficult to control and predict, but it is certainly important to all businesses. You should be aware that there are times when businesses and individuals have plenty of funds to spend and there are times when they have to cut back on their spending. This can have enormous implications for business as a whole.

When the economy is enjoying a boom, firms experience high sales and general prosperity. At such times, unemployment is low and many firms will be investing funds to enable them to produce more. They do this because consumers have plenty of money to spend and firms expect high sales. It naturally follows that the state of the economy is a major factor in the success of firms.

However, during periods when people have less to spend many firms face hard times as their sales fall. Thus, the economic environment alters as the economy moves into a recession. At that time, total spending declines as income falls and unemployment rises. Consumers will purchase cheaper items and cut expenditure on luxury items such as televisions and cars.

Changes in the state of the economy affect all types of business, though the extent to which they are affected varies. In the recession of the early 1990s the high street banks suffered badly. Profits declined and, in some cases, losses were incurred. This was because fewer people borrowed money from banks, thus denying them the opportunity to earn interest on loans, and a rising proportion of those who did borrow defaulted on repayment. These so-called "bad debts" cut profit margins substantially. Various forecasters reckoned that the National Westminster Bank's losses in the case of Robert Maxwell's collapsing business empire amounted to over £100 million.

No individual firm has the ability to control this aspect of its environment. Rather, it is the outcome of the actions of all the groups who make up society as well as being influenced by the actions of foreigners with whom the nation has dealings.

 

 

Mixed economics (Смешанная экономика)

Command and market economies both have significant faults. Partly because of this, an intermediate system has developed, known as mixed economies.

A mixed economy means very much what it says as it contains elements of both market and planned economies. At one extreme we have a command economy, which does not allow individuals to make economic decisions, at the other extreme we have a free market, where individuals exercise considerable economic freedom of choice without any government restrictions. Between these two extremes lies a mixed economy. In mixed economies some resources are controlled by the government whilst others are used in response to the demands of consumers.

Technically, all the economies of the world arc mixed: it is just the balance elements between market and planned elements that alters. Some countries are nearer to command economies, while others are closer to free market economies. So, for example, Hong Kong has some state-controlled industry, while Cuba has some privately owned and controlled firms.

The aim of mixed economies is to avoid the disadvantages of both systems while enjoying the benefits that they both offer. So, in a mixed economy the government and the private sector interact in solving economic problems. The state controls the share of the output through taxation and transfer payments and intervenes to supply essential items such as health, education and defence, while private firms produce cars, furniture, electrical items and similar, less essential products.

The UK is a mixed economy: some services arc provided by the state (for example, health care and defence) whilst a range of privately owned businesses offer other goods and services. The Conservative government under Margaret Thatcher switched many businesses from being state-owned and controlled to being privately owned as part of its privatization programme. This has taken the UK economy further away from the planned system.

 

MEASURING ECONOMIC ACTIVITY (ИЗМЕРЕНИЕ ЭКОНОМИЧЕСКОЙ АКТИВНОСТИ)

There are a large number of statistics produced regularly on the operation of the world's major economies. The UK's economy is no exception in this respect. You will probably have noticed that often the headlines in newspapers or important items on television news programmes relate to economic data and the implications for individuals and businesses. A prime example of this occurs when interest rates are increased: the media responds by highlighting the adverse effects on businesses with debts and householders with mortgages.

Data is provided on a wide range of aspects of the economy's operation. Statistics are available to show.

* the level of unemployment

* the level of inflation

* a country's trade balance with the rest of the world

* production volumes in key industries and the economy as a whole

* the level of wages

* raw material prices, and so forth.

The main statistics illustrating the economy's behaviour relate to the level of activity in the economy. That is, they tell us whether the economy is working at fall capacity using all or nearly all, available resources of labour, machinery and other factors of production or whether these resources are being under-utilized.

The unemployment figures for the economy give an indicator of the level of activity. As the economy moves towards a recession and a lower level of prosperity it is likely that unemployment figures will rise. An alternative measure of the level of activity is national income statistics, which show the value of a nation's output during a year. Economists use the term Gross National Product to describe this data. Changes in the level or trends of such key data have great significance for businesses, as we shall see later.

There are numerous sources of data on the economy of which we can make use. The government publishes much through the Treasury, Department of Trade and Industry, the Bank of England and the Department of Employment. The Central Statistical Office, which was established during the Second World War, publishes about half of the government's economic data.

Much of this is contained in its annual publication, "The Annual Abstract of Statistics". It also publishes the equally valuable "Social Trends" annually. Additionally, private organizations, such as the banks, building societies and universities, publish figures on various aspects of the economy's performance.

Economic statistics are presented in many forms, the most common being graphs and tables. Although these statistics can be valuable in assisting managers, they should be treated with some caution when predicting the future trend of the economy and thus helping the business to take effective decisions.

Three economic issues

Economics is the study of how people choose to allocate scarce resources to satisfy their unlimited wants. The main problem in economics is the question of allocating scarce resources between competing uses. In this section three economic issues are discussed to show how society allocates its scarce resources between competing uses. In this connection the question what, how and for whom to produce is of great significance.

The oil price shocks

Oil is an important commodity in modem economies. Oil and its derivatives provide fuel for heating, transport, and machinery, and arc basic inputs for the manufacture of industrial petrochemicals and many household products ranging from plastic utensils to polyester clothing. From the beginning of this century until 1973 the use of oil Increased steadily. Over much of this period the price of oil fell in comparison -with the prices of other products. Economic activity was organized on the assumption of cheap and abundant oil.

In 1973 – 74 there was an abrupt change. The main oil-producing nations, mostly located in the Middle East but including also Venezuela and Nigeria, belong to OPEC — the Organisation of Petroleum Exporting Countries. Recognizing that together they produced most of the world's oil, OPEC decided in 1973 to raise the price at which this oil was sold. Although higher prices encourage consumers of oil to try to economize on its use, OPEC countries correctly forecast that cutbacks in the quantity demanded would be small since most other nations were very dependent on oil and had few commodities available as potential substitutes for oil. Thus OPEC countries correctly anticipated that a substantial price increase would lead to only a small reduction in sales. It would be very profitable for OPEC members.

Oil prices are traditionally quoted in US dollars per barrel. Fig. 1 shows the price of oil from 1970 to 1986. Between 1973 and 1974 the price of oil tripled, from $2,90 to $9 per barrel. After a more gradual rise between 1974 and 1978 there was another sharp increase between 1978 and 1980, from $12 to $30 per barrel. The dramatic price increases of 1973 – 79 and 1980 – 82 have become known as the OPEC oil price shocks, not only because they took the rest of the world by surprise but also because of the upheaval they inflicted on the world economy, which had previously been organized on the assumption of cheap oil prices.

People usually respond to prices in this or that way. When the price of some commodity increases, consumers will try to use less of it but producers will want to sell more of it. These responses, guided by prices, are part of the process by which most Western societies determine what, how and for whom to produce. Consider first how the economy produces goods and services. When, as in the 1970s, the price of oil increases six-fold, every firm will try to reduce its use of oil-based products. Chemical firms will develop artificial substitutes for petroleum inputs to their production processes; airlines will look for more fuel-efficient aircraft; electricity will be produced from more coal-fired generators. In general, higher oil prices make the economy produce in a way that uses less oil.

 

 

INCOME (ДОХОД)

The second of the three economic issues is the question of income, that is, income distribution, the way in which income – that's what people earn – is distributed or shared around.

You, and your family, have an income. You have an annual income, that is what you earn in a year. This income allows you to enjoy various goods and services. It means you have a certain standard of living. Your standard of living, of course, includes what you think of as necessary to your life, things like food, water, somewhere to live, health and education. But your income doesn't just cover the necessities of life. It also includes recreation, whether that's sport or TV or a holiday. Your income will be less than some of your neighbours', but it will be more than some of your other neighbours'. Your neighbours mean not just people living in your own country, but also people living in other countries.

Just as you and your family have an income, so nations, different countries, also have an income — the national income, it's often called. A national income is not the money the government gets. The national income is the sum total of the incomes of all the people living in that country, in other words, everyone's income added together. In the same way one can think of world income as the total of all the incomes earned by all the people in the world.

Concerning the distribution of national and world income, some questions are to be asked: who, in the world, gets what share of these incomes? The distribution of income, either in the world or in a country, tells us how income is divided between different groups or individuals. Table 1 shows the distribution of world income. There are three headings down the left-hand side of the table: income per head, percentage of world population and percentage of world Income. In poor countries, like India, China and the Sudan, the income per head is only one hundred and fifty-five pounds per year. But at the same time, they have fifty point seven per cent of the world's population. These poor countries only have five per cent of the world's income.

In middle-income countries the income per head is eight hundred and forty pounds, that's in countries like Thailand and Brazil. In the major oil countries, like Kuwait and Saudi Arabia, it's seven thousand, six hundred and seventy. In industrial countries it's six thousand, two hundred and seventy.

THE ROLE OF GOVERNMENT (РОЛЬ ПРАВИТЕЛЬСТВА)

Having mentioned the effect of government tax policy on the income distribution, it's necessary to examine in greater detail the role of the government in society In every society governments provide such services as national defence, police, public education, firefighting services, and the administration of justice. In addition, governments through budget make transfer payments to some members of society.

Transfer payments are payments made to individuals without requiring the provision of any service in return. Examples are social security, retirement pensions, unemployment benefits, and, in some countries, food stamps. Government expenditure, whether on the provision of goods and services (defence, police) or on transfer payments, is chiefly financed by imposing taxes, although some (small) residual component may be financed by government borrowing.

In each case, we look at four measures of government spending as a percentage of national income: spending on the direct provision of goods and services for the public, transfer payments, Interest on the national debt, and total spending.

Italy is a "big-government" country. Its government spending is large and it needs to raise correspondingly large tax revenues. In contrast, Japan has a much smaller government sector and needs to raise correspondingly less tax revenue. These differences in the scale of government activity relative to national income reflect differences in the way different countries allocate their resources among competing uses.

Governments spend part of their revenue on particular goods and services such as tanks, schools and public safety. They directly affect what is produced. Japan's low share of government spending on goods and services in Tabl. 2 reflects the very low level of Japanese spending on defence.

Governments affect for whom output is produced through their tax and transfer payments. By taxing the rich and making transfers to the poor, the government ensures that the poor are allocated more of what is produced than would otherwise be the case; and the rich get correspondingly less.

The government also affect how goods are produced, for example through the regulations it imposes. Managers of factories and mines must obey safely requirements even where these are costly to implement, firms are prevented from freely polluting the atmosphere and rivers, offices and factories are banned in attractive residential parts of the city.

THE PRODUCTION POSSIBILITY FRONTIER (ГРАНИЦЫ ВОЗМОЖНОСТЕЙ ПРОИЗВОДСТВА)

Let's turn to the most important tool for an economist – the production possibility frontier. This frontier shows the maximum combinations of output that the economy can produce, if it uses all its available scarce resources.

The easiest way to explain it is to complete a figure. First, the vertical axis or line, is labelled "food output". The units of food output run from nought at the bottom to 25 at the top, entering the units of food output in fives: 0, 5, 10, etc. Along the horizontal axis (or the bottom line) we have units of film output. Let's enter in the units of film output in fives again, this time up to 30.

Suppose we have an economy with only food and film industries. Now, if we put all the workers into producing food, we shall produce 25 units of food, but no units of film. We can mark this on the diagram with point A – no film, 25 units of food. It means point A comes on the vertical line at the number 25. Now, at the other extreme, if the economy puts all its workers into producing film, it will produce 30 units, but it will not produce any food. So, the next point is on the bottom, horizontal line, at 30 units. Let's label it as point E.

These two points, A and E, arc the two extreme points of the production possibility frontier. Let's put in three more points. Point В is where the economy is producing 22 units of food and 9 units of film. Point С is where the economy is producing 17 points of both film and food. And, finally, point D is where we have 10 units of food and 24 units of film. Now draw a line joining all these points together, from A to E. The line drawn is not a straight line, it's a concave curve. It is this concave curve that is called the production possibility frontier.

The production possibility frontier represents a trade-off. More of one commodity, food or film, means less of the other, and this is because of the law of diminishing returns. It states that if, in the production of a commodity, one factor of production is increased by stages while the other factors are kept unchanged, the stage will sooner or later be reached where each farther addition to the increasing factor will produce a smaller and smaller increase in output.

ECONOMIC SYSTEMS (ЭКОНОМИЧЕСКИЕ СИСТЕМЫ)

There are a number of ways in which a government can organize its economy and the type of system chosen is critical in shaping environment in which businesses operate.

An economic system is quite simply the way in which a country uses its available resources (land, workers, natural resources, machinery etc.) to satisfy the demands of its inhabitants for goods and services. The more goods and services that can be produced from these limited resources, the higher the standard of living enjoyed by the country's citizens.

There are three main economic systems:

Planned economics (Плановая экономика)

Planned economies are sometimes called "command economies" because the state commands the use of resources (such as labour and factories) that are used to produce goods and services as it owns factories, land and natural resources. Planned economies are economies with a large amount of central planning and direction, when the government takes all the decisions, the government decides production and consumption. Planning of this kind is obviously very difficult, very complicated to do, and the result is that there is no society, which is completely a command economy. The actual system employed varies from state to state, but command or planned economies have a number of common features.

Firstly, the state decides precisely what the nation is to produce. It usually plans five years ahead. It is the intention of the planners that there should be enough goods and services for all.

Secondly, industries are asked to comply -with these plans and each industry and factory is set a production target to meet. If each factory and farm meets its target, then the state will meet its targets as set out in the five-year plans. You could think of the factory and farm targets to be objectives which, if met, allow the nation's overall aim to be reached.

A planned economy is simple to understand but not simple to operate. It does, however, have a number of advantages:

· Everyone in society receives enough goods and services to enjoy a basic standard of living.

· Nations do not waste resources duplicating production.

· The state can use its control of the economy to divert resources to wherever it wants. As a result, it can ensure that everyone receives a good education, proper health care or that transport is available.

Market economics (Рыночная экономика)

The best examples of this type of economy are to be found in small South-East Asian states like Hong Kong and Singapore, though even they are not pure examples of market economies. Even they contain some businesses owned and run by the state.

In a true market economy the government plays no role in the management of the economy, the government does not intervene in it. The system is based on private enterprise with private ownership of the means of production and private supplies of capital, which can be defined as surplus income available for investment in new business activities. Workers arc paid wages by employers according to how skilled they are and how many firms wish to employ them. They spend their wages on the products and services they need. Consumers are willing to spend more on products and services, which are favoured. Firms producing these goods will make more profits and this will persuade more firms to produce these particular goods rather than less favoured ones.

Thus, we can see that in a market economy it is consumers who decide what is to be produced. Consumers will be willing to pay high prices for products they particularly desire. Firms, which are privately owned, see the opportunity of increased profits and produce the new fashionable and favoured products.

Such a system is, at first view, very attractive. The economy adjusts automatically to meet changing demands. No planners have to be employed, which allows more resources to be available for production. Firms tend to be highly competitive in such an environment. New advanced products and low prices are good ways to increase sales and profits. Since all firms are privately owned they try to make the largest profits possible. In a free market individual people are free to pursue their own interests. They can become millionaires, for example. Suppose you invent a new tend of car. You want to make money out of it in your own interests. But when you have that car produced, you are in fact moving the production possibility frontier outwards. You actually make the society better-off by creating new jobs and opportunities, even though you become a millionaire in the process, and you do it without any government help or intervention.

MARKETS (рынки)

The Role of Market (Роль рынка)

Reports in the press tend to say "the market did this" or "the market expected good news on the economic front", as if the market were a single living entity with a single conscious mind. This is not, of course, the case. To understand reports of market behaviour you have to bear in mind the way the market works.

A market is simply a mechanism, which allows individuals or organizations to trade with each other. Markets bring together buyers and sellers of goods and services. In some cases, such as a local fruit stall, buyers and sellers meet physically. In other cases, such as the stock market, business can be transacted over the telephone, almost by remote control. There's no need to go into these details. Instead, we use a general definition of markets.

A market is a shorthand expression for the process by which households' decisions about consumption of alternative goods, firms' decisions about what and how to produce, and workers' decisions about how much and for whom to work are all reconciled by adjustment of prices.

Prices of goods and of resources, such as labour, machinery and land, adjust to ensure that scarce resources are used to produce those goods and services that society demands.

Much of economics is devoted to the study of how markets and prices enable society to solve the problems of what, how and for whom to produce. Suppose you buy a hamburger for your lunch. What does this have to do with markets and prices? You chose the cafe because it was fast, convenient and cheap. Given your desire to eat, and your limited resources, the low hamburger price told you that this was a good way to satisfy your appetite. You probably prefer steak but that is more expensive. The price of steak is high enough to ensure that society answers the "for whom" question about lunchtime steaks in favour of someone

else.

Now think about the seller's viewpoint. The cafe owner is in business because, given the price of hamburger meat, the rent and the wages that must be paid, it is still possible to sell hamburgers at a profit. If rents were higher, it might be more profitable to sell hamburgers in a cheaper area or to switch to luxury lunches for rich executives on expense accounts. The student behind the counter is working there because it is a suitable part-time job, which pays a bit of money. If the wage were much lower it would hardly be worth working at all. Conversely, the job is unskilled and there are plenty of students looking for such work, so owners of cafes do not have to offer very high wages.