Страница:
6. At constant prices, an increase in income leads to an (increasing/increased) consumption.
7. Every day in thousands of markets, consumers show which goods they prefer (making/made) practical choices and (spending/spent) money on some particular goods rather than others.
Задание на дом № 2
12. Вставьте в предложения следующие слова и словосочетания в соответствующей форме:
choice, to obtain (2), number, that is, within (2), to maintain, constant, rather than, per (4), provided, to result in, to assume, to choose
1. We assume that the consumer prefers to have more of a good….. less.
2… the good whose price has risen is a normal good, the economist can… that the demand for it will fall.
3. A constant level of utility is… through correct choice of goods or services that can be… at one time.
4. The lower price….. additional demand.
5. People must often make a… between two or more goods. They usually… the good with the highest utility… the limited budget, choose the cheapest good.
6. Income is usually counted… year, but sometimes also… month or even… week.
7. The man having a credit card has to pay… a certain… of days for everything that he has bought with its help during the month.
8. We do not assume that… acre productivity will remain… as modern agricultural technology allows farmers to… better results.
13. Образуйте подходящее по смыслу причастие I или причастие II от глаголов, данных в скобках. Переведите предложения на русский язык.
1. The theory of consumer choice (to base) on individual utility shows how different tastes result in different demands for the same goods.
2. The theory of supply assumes that the producer (to depend) on a production technology wants to maximize profit.
3. A subsidy is money (to give) by a government to some producers, for example farmers, to help them to produce at a low price the goods or services (to need) by the public.
4. In a dynamic economy, the factors (to influence) the level of demand and supply, are changing.
5. Expenditure is an amount of money (to spend).
6. The price of land (to call) rent depends on supply and demand.
14. Вставьте пропущенные предлоги, где это необходимо.
1… Russia, real income… capita fell… 57 percent… 1998.
2. People must keep their purchases… their incomes, often making hard choices… small budgets.
3. The consumption… ice-cream… Russia is… five times lower than… the USA
4. The sales… the Hungarian drug maker Gedeon Richter fell… $78 million… 1997… $40 million… 1999 as the incomes… Russian people fell dramatically… the crisis… 1998.
5. An increase… the price… an input will result… a reduction in the quantity… that input demanded.
6. How much can be produced… week… each industry depends… how workers are allocated… the industries.
7. The economist is to explain what demand is and how it affects… the market price and quantity.
8. It is not always easy to explain why consumers prefer one good… another, but producers have to examine consumer preferences carefully as they depend… them.
9. We need… a number… elementary things… life, such as food, water and housing. It is veiy difficult to decrease… their consumption when the price increases, that is, demand… them is inelastic.
Аудиторная работа № 2
15. а) Ответьте на вопросы к тексту Theory of Demand.
1. What is consumer demand?
2. What factors influencing consumer demand are assumed constant?
3. What is the principal assumption of the demand theory?
4. Which choice does the consumer have to make?
5. What is marginal utility?
6. How should the consumer allocate his income?
7. How does the marginal utility change as the consumption of a good increases?
8. In what way is the marginal utility connected with price?
9. What is market demand?
10. In what way does market demand differ from individual demand?
б) Подумайте и скажите:
1. In what situation can a buyer prefer to have less rather than more? Has it ever happened to you?
2. Supply an example of marginal utility decreasing as the quantity consumed grows.
16. Выберите подходящее по смыслу слово из предлагаемых в скобках вариантов.
1. An increase in food prices greatly (affects /follows) consumer real income because food is a large part of consumer {expenditure/ budget).
2. An increase in the price of the good j increases the quantity demanded of the good; when the two goods are (substitutes / normal) but reduces the quantity demanded of the good i when the two goods are (additional /complements).
3. We (prefer/ assume) that the consumer always decides that one good is better than, worse than, or as good as another.
4. This model of consumer (expenditure /relationship) can show different behaviour (поведение) of different consumers.
5. The demand theory assumes that the consumer (following/depending) on a budget constraint wants to (vary/ maximize) utility.
6. Importers often must first (follow/obtain) an import licence.
7. Economic development is the process of raising the income (per/within) head of the people of a country.
8. If the level of imports is high, great parts of incomes are spent on the goods produced abroad (that is/rather than) on the goods produced at home.
9. Statistics show that (the budget constraint / the number) of working women with young children is constantly growing in the USA today.
10. Ai increase in consumer expenditure usually (follows/results in) an equivalent rise in the income of consumers.
17. Составьте все возможные словосочетания из слов в левой и правой колонках и переведите их.
additional – utility, demand, substitute, maximization, expenditure, unit, assumption, budget, constraints, relationship
constant, maximum, utility, additional, equal, complementary – expenditure
unit, complementary, maximum, additional, particular, choice – goods
to maintain, to prefer, to depend on, to result in, to maximize, to affect – relationship
18. Составьте предложения из двух подходящих по смыслу частей.
1. Increase in the utility of one good can compensate
2. Equilibrium price is the price at which
3. The marginal utility of a good is the increase in
4. There are different ways
5. Over 60 percent of the capital of all US firms is in agro-industry
6. Higher expenditure on foreign goods rather than on the goods produced at home
7. Rising incomes result in
8. Per capita income in the United States
a. the quantity demanded is equal to the quantity supplied.
b. to restrict import expenditure.
c. that is, industry based on agricultural products.
d. an absolute fall of demand for inferior goods.
e. is still higher than in Japan.
f. the utility obtained by consuming one more unit of that good.
g. the reduction in utility of another good.
h. will increase demand for foreign goods.
Задание на дом № 3
19. Переведите следующие предложения, обращая внимание на словосочетания из словарного минимума к тексту Theory of Demand.
1. These two goods are good substitutes.
2. The problem of the consumer is to choose the particular goods and services within the limits imposed by his budget.
3. If the consumer wants to maintain a constant maximum utility and at the same time obtain more of a good, he should decide the consumption of which other good has to be reduced.
4. The relationship between utility and the goods consumed depends on the social, physiological, demographic and other characteristics of the particular consumer.
5. Budget constraint means that your expenditures for all the goods consumed must be equal to your income.
6. Economic theory is the part of the study of economics that examines and explains how the economic system is affected by man's behaviour, by nature, markets and governments.
7. Consumers want to buy a good as long as the ratio between its marginal utility and price is the same as for other goods.
8. The increase in the number of people in the world is followed at present by an increase in per capita consumption.
20. Переведите следующие предложения на английский язык:
1. Каждый потребитель должен решить проблему выбора.
2. При равновесной цене предложение равно спросу.
3. Цены ниже равновесной приводят к дефициту.
4. На свободном рынке изменения цены зависят от (колеблются в зависимости от) изменения спроса и предложения.
5. Фирма может контролировать одну или более производственных единиц, таких как завод.
6. Концепция предельной полезности очень важна для решения некоторых проблем спроса.
21. а) Раскройте скобки и употребите глаголы в соответствующей форме.
Each market (to describe) by two main characteristics: the good itself and the geographic area. Each market (to include) only the goods which (to satisfy) the same consumers' needs. For example, two brands of English muffins (сдобные булочки) (to be) in the same market, but televisions and cars (to be) in different markets. Nintendo and Sony electronic games (not to be) identical goods, but they both (to include) in the market for games.
The second characteristic of a market, geographic area, (to be) also of importance for describing markets. As bread (to bake and to sell) usually in a particular place, the Chicago bread market and the Detroit bread market (to be) different markets. As microwave ovens (to transport) nationwide, the market for a particular brand (to be) the entire country or several countries.
б) Напишите пять вопросов к тексту.
Аудиторная работа № 3
22 Сравните приведенные ниже статистические данные, используя известные вам сравнительные конструкции по образцам. Составьте не менее десяти предложений на каждый образец.
ОБРАЗЕЦ 1: The income per head was lower in Egypt than in the USA in 1994.
ОБРАЗЕЦ 2: The number of men working in the United Kingdom (UK) was not as high as in Germany in 1995.
Income Per Head in 1994 (US dollars)
Egypt 720
UK 18,340
Japan 34,630
USA 25,880
Germany 25,580
Number of Men Working in Economy in 1995
UK 28,000
Germany 40,000
Japan 66,000
USA 132,000
23 Раскройте скобки и употребите глаголы в соответствующей видо-временной форме. Обратите внимание на согласование времен.
The lecturer said market (to stop) long before being a geographic site (место) where goods (to buy and to sell). He (to characterize) markets as arrangements (зд. структуры) through which goods (to sell) to those people who (to need) them.
It was written in the book that some forms of money (to use) by man from early times.
In 1968, the British Parliament (to pass) the Trade Descriptions A: t imposing limitations on information that a firm (can) (to give) to the public In its advertisements (реклама). Before the A: t the firms (to have) a larger freedom in advertising activity.
The Prime Minister said the monthly pension (to grow) two times by the end of the year.
24. Запомните разницу в употреблении данных ниже глаголов при обозначении понятий увеличения или уменьшения чего-либо в размере, объеме, стоимости и т. п., которые могут быть переданы по-английски различными словами.
Глагол to rise (rose, risen) употребляется без прямого дополнения и означает увеличиваться, расти, возрастать (в количестве, степени, цене и т. п.). Например: Prices continue to rise.
Существительное rise – повышение, увеличение, рост. Например: A rise in input prices resulted in a rise in product prices.
В американском варианте английского языка (American English) в этом значении употребляется также существительное raise.
Глагол to raise (raised, raised) употребляется с прямым дополнением и означает увеличивать, повышать что-л. (в количестве, степени, размере и т. п.). Например: The Finance Minister raised spending on medicine and education in the last year's budget.
Глагол to increase (increased, increased) употребляется как с прямым дополнением, так и без него и означает увеличиваться), возрастать (в размере, степени, количестве и т. д.). Например: The Finance Minister increased spending on medicine and education in the last year's budget. The population will increase to 12–13 billion in 2020–2025.
Существительное increase означает увеличение, повышение. Например: There was a great increase in population.
Глагол и существительное increase могут употребляться вместо rise и raise во всех приведенных выше примерах, что может помочь избежать ошибок в употреблении двух последних слов.
То give rise to smth означает приводить к чему-либо, вызывать что– либо (syn to result in smth, to cause smth, to lead to smth). Например: Industrial revolution gave rise to the development of banking.
Глагол to arise (arose, arisen) означает возникать, происходить. Например: The manager is to solve all the problems that may arise.
Глагол to decrease (decreased, decreased) может употребляться как с прямым дополнением, так и без него. Он означает уменьшаться (в размере, объеме, числе).
Глагол to reduce (reduced, reduced) употребляется с прямым дополнением и означает уменьшать (в размере, весе, количестве, стоимости, цене и т. д.).
Глагол to fall (fell, fallen) употребляется без прямого дополнения и означает падать, понижаться (в количестве, цене и т. п.). Например: The demand for ice cream usually falls in winter.
Существительные decrease и reduction означают уменьшение, понижение, сокращение. Например: A small decrease/reduction in production did not affect greatly the supply of the product.
б) Переведите русские слова в следующих предложениях:
Russia's natural gas exports (увеличился) from 181.6 billion cubic metres in 1998 to 182.5 billion cubic metres in 1999.
There was a dramatic (увеличение) in oil prices after 1973 all over the world.
Inflation can (возникнуть) under a number of conditions.
Comparing 1999 and 1998, real investment in Russia (увеличились) by 1.0 percent.
Inflation becomes stagflation (стагфляция) when economic growth (снижается), but inflation continues to (расти).
In 1999, Russia's exports of oil products (снизился) by 2.5 million tons and exports of fuel oil (увеличился) by 1.0 percent.
Income per capita (снизился) in Russia in January 1999 compared with December 1997.
An inflation is characterized by the (повышение) in prices within a certain period of time.
It is important to (снизить) capital investment in the production if we want to (снизить) the production cost.
In the 1980s the gross national product (GNP) per person continued to (увеличиваться) in all groups of countries.
The production figures (снижались) every three months.
The high inflation (вызвала снижение) in consumption.
A lot of problems (возникло) when the construction of the plant started.
The government (повышало) teachers' salaries twice last year and there was a total (повышение) by 30 percent by the end of the year.
The (сокращение) in energy intensive (энергоемких) operations in the production line may greatly (увеличить) the quantity of goods produced.
25. Прочитайте текст. Догадайтесь, что означают подчеркнутые слова.
Income Elasticity of Demand
Studying the theory of demand we can assume that there is a relationship between price, income and quantity, but this assumption itself cannot allow us to see how much the quantity demanded is affected by a price change for a good or an income change. This relationship varies from one good to another.
One of the most important of these relationships is income elasticity of demand. The income elasticity of demand is to show how much the quantity demanded depends on changes in income if other factors are constant. The income elasticity is the percentage change in quantity following one-percent change in income if other factors are constant.
The coefficient is mainly positive as with the income increased a consumer buys more of most products, and when the income decreases, the quantity demanded falls.
The income elasticity for food in the United States is about 0.2. A few goods such as dry beans (сухие бобы) have negative income elasticities. If elasticity is above zero, the product is called a normal good, if elasticity is below zero, the product is an inferior good.
26. Отметьте утверждения, которые не соответствуют содержанию текста. Приведите их в соответствие с содержанием текста.
The relationship between price, income and quantity demanded is constant for all goods.
The income elasticity of demand shows how much the quantity demanded changes with changes in income.
The income elasticity of demand is expressed in percent.
The coefficient may be positive and negative.
Income elasticity works in opposite directions for normal and inferior goods.
Unit 4
7. Every day in thousands of markets, consumers show which goods they prefer (making/made) practical choices and (spending/spent) money on some particular goods rather than others.
Задание на дом № 2
12. Вставьте в предложения следующие слова и словосочетания в соответствующей форме:
choice, to obtain (2), number, that is, within (2), to maintain, constant, rather than, per (4), provided, to result in, to assume, to choose
1. We assume that the consumer prefers to have more of a good….. less.
2… the good whose price has risen is a normal good, the economist can… that the demand for it will fall.
3. A constant level of utility is… through correct choice of goods or services that can be… at one time.
4. The lower price….. additional demand.
5. People must often make a… between two or more goods. They usually… the good with the highest utility… the limited budget, choose the cheapest good.
6. Income is usually counted… year, but sometimes also… month or even… week.
7. The man having a credit card has to pay… a certain… of days for everything that he has bought with its help during the month.
8. We do not assume that… acre productivity will remain… as modern agricultural technology allows farmers to… better results.
13. Образуйте подходящее по смыслу причастие I или причастие II от глаголов, данных в скобках. Переведите предложения на русский язык.
1. The theory of consumer choice (to base) on individual utility shows how different tastes result in different demands for the same goods.
2. The theory of supply assumes that the producer (to depend) on a production technology wants to maximize profit.
3. A subsidy is money (to give) by a government to some producers, for example farmers, to help them to produce at a low price the goods or services (to need) by the public.
4. In a dynamic economy, the factors (to influence) the level of demand and supply, are changing.
5. Expenditure is an amount of money (to spend).
6. The price of land (to call) rent depends on supply and demand.
14. Вставьте пропущенные предлоги, где это необходимо.
1… Russia, real income… capita fell… 57 percent… 1998.
2. People must keep their purchases… their incomes, often making hard choices… small budgets.
3. The consumption… ice-cream… Russia is… five times lower than… the USA
4. The sales… the Hungarian drug maker Gedeon Richter fell… $78 million… 1997… $40 million… 1999 as the incomes… Russian people fell dramatically… the crisis… 1998.
5. An increase… the price… an input will result… a reduction in the quantity… that input demanded.
6. How much can be produced… week… each industry depends… how workers are allocated… the industries.
7. The economist is to explain what demand is and how it affects… the market price and quantity.
8. It is not always easy to explain why consumers prefer one good… another, but producers have to examine consumer preferences carefully as they depend… them.
9. We need… a number… elementary things… life, such as food, water and housing. It is veiy difficult to decrease… their consumption when the price increases, that is, demand… them is inelastic.
Аудиторная работа № 2
15. а) Ответьте на вопросы к тексту Theory of Demand.
1. What is consumer demand?
2. What factors influencing consumer demand are assumed constant?
3. What is the principal assumption of the demand theory?
4. Which choice does the consumer have to make?
5. What is marginal utility?
6. How should the consumer allocate his income?
7. How does the marginal utility change as the consumption of a good increases?
8. In what way is the marginal utility connected with price?
9. What is market demand?
10. In what way does market demand differ from individual demand?
б) Подумайте и скажите:
1. In what situation can a buyer prefer to have less rather than more? Has it ever happened to you?
2. Supply an example of marginal utility decreasing as the quantity consumed grows.
16. Выберите подходящее по смыслу слово из предлагаемых в скобках вариантов.
1. An increase in food prices greatly (affects /follows) consumer real income because food is a large part of consumer {expenditure/ budget).
2. An increase in the price of the good j increases the quantity demanded of the good; when the two goods are (substitutes / normal) but reduces the quantity demanded of the good i when the two goods are (additional /complements).
3. We (prefer/ assume) that the consumer always decides that one good is better than, worse than, or as good as another.
4. This model of consumer (expenditure /relationship) can show different behaviour (поведение) of different consumers.
5. The demand theory assumes that the consumer (following/depending) on a budget constraint wants to (vary/ maximize) utility.
6. Importers often must first (follow/obtain) an import licence.
7. Economic development is the process of raising the income (per/within) head of the people of a country.
8. If the level of imports is high, great parts of incomes are spent on the goods produced abroad (that is/rather than) on the goods produced at home.
9. Statistics show that (the budget constraint / the number) of working women with young children is constantly growing in the USA today.
10. Ai increase in consumer expenditure usually (follows/results in) an equivalent rise in the income of consumers.
17. Составьте все возможные словосочетания из слов в левой и правой колонках и переведите их.
additional – utility, demand, substitute, maximization, expenditure, unit, assumption, budget, constraints, relationship
constant, maximum, utility, additional, equal, complementary – expenditure
unit, complementary, maximum, additional, particular, choice – goods
to maintain, to prefer, to depend on, to result in, to maximize, to affect – relationship
18. Составьте предложения из двух подходящих по смыслу частей.
1. Increase in the utility of one good can compensate
2. Equilibrium price is the price at which
3. The marginal utility of a good is the increase in
4. There are different ways
5. Over 60 percent of the capital of all US firms is in agro-industry
6. Higher expenditure on foreign goods rather than on the goods produced at home
7. Rising incomes result in
8. Per capita income in the United States
a. the quantity demanded is equal to the quantity supplied.
b. to restrict import expenditure.
c. that is, industry based on agricultural products.
d. an absolute fall of demand for inferior goods.
e. is still higher than in Japan.
f. the utility obtained by consuming one more unit of that good.
g. the reduction in utility of another good.
h. will increase demand for foreign goods.
Задание на дом № 3
19. Переведите следующие предложения, обращая внимание на словосочетания из словарного минимума к тексту Theory of Demand.
1. These two goods are good substitutes.
2. The problem of the consumer is to choose the particular goods and services within the limits imposed by his budget.
3. If the consumer wants to maintain a constant maximum utility and at the same time obtain more of a good, he should decide the consumption of which other good has to be reduced.
4. The relationship between utility and the goods consumed depends on the social, physiological, demographic and other characteristics of the particular consumer.
5. Budget constraint means that your expenditures for all the goods consumed must be equal to your income.
6. Economic theory is the part of the study of economics that examines and explains how the economic system is affected by man's behaviour, by nature, markets and governments.
7. Consumers want to buy a good as long as the ratio between its marginal utility and price is the same as for other goods.
8. The increase in the number of people in the world is followed at present by an increase in per capita consumption.
20. Переведите следующие предложения на английский язык:
1. Каждый потребитель должен решить проблему выбора.
2. При равновесной цене предложение равно спросу.
3. Цены ниже равновесной приводят к дефициту.
4. На свободном рынке изменения цены зависят от (колеблются в зависимости от) изменения спроса и предложения.
5. Фирма может контролировать одну или более производственных единиц, таких как завод.
6. Концепция предельной полезности очень важна для решения некоторых проблем спроса.
21. а) Раскройте скобки и употребите глаголы в соответствующей форме.
Each market (to describe) by two main characteristics: the good itself and the geographic area. Each market (to include) only the goods which (to satisfy) the same consumers' needs. For example, two brands of English muffins (сдобные булочки) (to be) in the same market, but televisions and cars (to be) in different markets. Nintendo and Sony electronic games (not to be) identical goods, but they both (to include) in the market for games.
The second characteristic of a market, geographic area, (to be) also of importance for describing markets. As bread (to bake and to sell) usually in a particular place, the Chicago bread market and the Detroit bread market (to be) different markets. As microwave ovens (to transport) nationwide, the market for a particular brand (to be) the entire country or several countries.
б) Напишите пять вопросов к тексту.
Аудиторная работа № 3
22 Сравните приведенные ниже статистические данные, используя известные вам сравнительные конструкции по образцам. Составьте не менее десяти предложений на каждый образец.
ОБРАЗЕЦ 1: The income per head was lower in Egypt than in the USA in 1994.
ОБРАЗЕЦ 2: The number of men working in the United Kingdom (UK) was not as high as in Germany in 1995.
Income Per Head in 1994 (US dollars)
Egypt 720
UK 18,340
Japan 34,630
USA 25,880
Germany 25,580
Number of Men Working in Economy in 1995
UK 28,000
Germany 40,000
Japan 66,000
USA 132,000
23 Раскройте скобки и употребите глаголы в соответствующей видо-временной форме. Обратите внимание на согласование времен.
The lecturer said market (to stop) long before being a geographic site (место) where goods (to buy and to sell). He (to characterize) markets as arrangements (зд. структуры) through which goods (to sell) to those people who (to need) them.
It was written in the book that some forms of money (to use) by man from early times.
In 1968, the British Parliament (to pass) the Trade Descriptions A: t imposing limitations on information that a firm (can) (to give) to the public In its advertisements (реклама). Before the A: t the firms (to have) a larger freedom in advertising activity.
The Prime Minister said the monthly pension (to grow) two times by the end of the year.
24. Запомните разницу в употреблении данных ниже глаголов при обозначении понятий увеличения или уменьшения чего-либо в размере, объеме, стоимости и т. п., которые могут быть переданы по-английски различными словами.
Глагол to rise (rose, risen) употребляется без прямого дополнения и означает увеличиваться, расти, возрастать (в количестве, степени, цене и т. п.). Например: Prices continue to rise.
Существительное rise – повышение, увеличение, рост. Например: A rise in input prices resulted in a rise in product prices.
В американском варианте английского языка (American English) в этом значении употребляется также существительное raise.
Глагол to raise (raised, raised) употребляется с прямым дополнением и означает увеличивать, повышать что-л. (в количестве, степени, размере и т. п.). Например: The Finance Minister raised spending on medicine and education in the last year's budget.
Глагол to increase (increased, increased) употребляется как с прямым дополнением, так и без него и означает увеличиваться), возрастать (в размере, степени, количестве и т. д.). Например: The Finance Minister increased spending on medicine and education in the last year's budget. The population will increase to 12–13 billion in 2020–2025.
Существительное increase означает увеличение, повышение. Например: There was a great increase in population.
Глагол и существительное increase могут употребляться вместо rise и raise во всех приведенных выше примерах, что может помочь избежать ошибок в употреблении двух последних слов.
То give rise to smth означает приводить к чему-либо, вызывать что– либо (syn to result in smth, to cause smth, to lead to smth). Например: Industrial revolution gave rise to the development of banking.
Глагол to arise (arose, arisen) означает возникать, происходить. Например: The manager is to solve all the problems that may arise.
Глагол to decrease (decreased, decreased) может употребляться как с прямым дополнением, так и без него. Он означает уменьшаться (в размере, объеме, числе).
Глагол to reduce (reduced, reduced) употребляется с прямым дополнением и означает уменьшать (в размере, весе, количестве, стоимости, цене и т. д.).
Глагол to fall (fell, fallen) употребляется без прямого дополнения и означает падать, понижаться (в количестве, цене и т. п.). Например: The demand for ice cream usually falls in winter.
Существительные decrease и reduction означают уменьшение, понижение, сокращение. Например: A small decrease/reduction in production did not affect greatly the supply of the product.
б) Переведите русские слова в следующих предложениях:
Russia's natural gas exports (увеличился) from 181.6 billion cubic metres in 1998 to 182.5 billion cubic metres in 1999.
There was a dramatic (увеличение) in oil prices after 1973 all over the world.
Inflation can (возникнуть) under a number of conditions.
Comparing 1999 and 1998, real investment in Russia (увеличились) by 1.0 percent.
Inflation becomes stagflation (стагфляция) when economic growth (снижается), but inflation continues to (расти).
In 1999, Russia's exports of oil products (снизился) by 2.5 million tons and exports of fuel oil (увеличился) by 1.0 percent.
Income per capita (снизился) in Russia in January 1999 compared with December 1997.
An inflation is characterized by the (повышение) in prices within a certain period of time.
It is important to (снизить) capital investment in the production if we want to (снизить) the production cost.
In the 1980s the gross national product (GNP) per person continued to (увеличиваться) in all groups of countries.
The production figures (снижались) every three months.
The high inflation (вызвала снижение) in consumption.
A lot of problems (возникло) when the construction of the plant started.
The government (повышало) teachers' salaries twice last year and there was a total (повышение) by 30 percent by the end of the year.
The (сокращение) in energy intensive (энергоемких) operations in the production line may greatly (увеличить) the quantity of goods produced.
25. Прочитайте текст. Догадайтесь, что означают подчеркнутые слова.
Income Elasticity of Demand
Studying the theory of demand we can assume that there is a relationship between price, income and quantity, but this assumption itself cannot allow us to see how much the quantity demanded is affected by a price change for a good or an income change. This relationship varies from one good to another.
One of the most important of these relationships is income elasticity of demand. The income elasticity of demand is to show how much the quantity demanded depends on changes in income if other factors are constant. The income elasticity is the percentage change in quantity following one-percent change in income if other factors are constant.
The coefficient is mainly positive as with the income increased a consumer buys more of most products, and when the income decreases, the quantity demanded falls.
The income elasticity for food in the United States is about 0.2. A few goods such as dry beans (сухие бобы) have negative income elasticities. If elasticity is above zero, the product is called a normal good, if elasticity is below zero, the product is an inferior good.
26. Отметьте утверждения, которые не соответствуют содержанию текста. Приведите их в соответствие с содержанием текста.
The relationship between price, income and quantity demanded is constant for all goods.
The income elasticity of demand shows how much the quantity demanded changes with changes in income.
The income elasticity of demand is expressed in percent.
The coefficient may be positive and negative.
Income elasticity works in opposite directions for normal and inferior goods.
Unit 4
Theory of Supply
Грамматика :
1. Временные формы глаголов и причастий I и II ( повторение)
2. Бессоюзное присоединение определительных придаточных предложений
Задание на дом № 1
1. В разделе «Грамматика и словообразование» проработайте § 10.
2. Переведите следующие предложения на русский язык, обращая внимание на бессоюзное присоединение определительных придаточных предложений.
The European economy of the 2020s will be very different from that of the Europe we have known for the last decades.
Higher incomes have much more influence on the way people eat (more meat, less bread) than on the amount they eat.
With changed prices the consumer has to change the quantities he demands if he is to maintain utility at the same level.
Real income is the amount of the goods and services a consumer can buy with his money income.
A consumer is a person who consumes the products and services he buys.
The price at the time the good is ready for marketing may be different from the price at the time the decision to produce it was made.
3. Переведите текст Theory of Supply и отработайте его чтение.
4. Найдите в тексте:
определительные придаточные предложения, присоединенные к главному предложению без союзного слова (последний абзац);
причастие II в постпозиции (второй абзац);
причастные обороты (третий, четвертый, девятый абзацы);
одиночные причастия, употребленные в качестве левого определения к существительному (второй и седьмой абзацы).
TEXT
Theory of Supply
The theory of supply is the theory of how much output firms choose to produce. The principal assumption of the supply theory is that the producer will maintain the level of output at which he maximizes his profit.
Profit can be defined in terms of revenue and costs. Revenue is what the firm earns by selling goods or services in a given period such as a year. Costs are the expenses which are necessary for producing and selling goods or services during the period. Profit is the revenue from selling the output minus the costs of inputs used.
Costs should include opportunity costs of all resources used in production. Opportunity cost of a commodity is the amount obtained by an input in its best alternative use (best use elsewhere). In particular, costs include the owner's time and effort in running a business. Costs also include the opportunity cost of the financial capital used in the firm.
Aiming to get higher profits, firms obtain each output level as cheaply as possible. Firms choose the optimal output level to receive the highest profits. This decision can be described in terms of marginal cost and marginal revenue.
Marginal cost is the increase in total cost when one additional unit of output is produced.
Marginal revenue is the corresponding change in total revenue from selling one more unit of output.
As the individual firm has to be a price-taker[6], each firm's marginal revenue is the prevailing market price. Profits are the highest at the output level at which marginal cost is equal to marginal revenue, that is, to the market price of the output. If profits are negative at this output level, the firm should close down.
An increase in marginal cost reduces output. A rise in marginal revenue increases output. The optimal quantity also depends on the output prices as well as on the input costs. Of course, the optimal supply quantity is affected by such noneconomic factors as technology, environment, etc[7].
Making economic forecasts, it is necessary to know the effect of a price change on the whole output rather than the supply of individual firms.
Market supply is defined in terms of the alternative quantities of a commodity all firms in a particular market offer as price varies and as all other factors are assumed constant.
Словарный минимум к тексту
output n продукция; объем производства
profit и прибыль, доход
in terms of – в смысле; с точки зрения; в отношении; в переводе на
in terms of money – в денежном выражении
revenue и доход
marginal revenue – предельный, маржинальный доход{дополнительный доход, который получит производитель в результате продажи одной дополнительной единицы продукции)
costs – издержки, расходы
marginal costs – предельные, маржинальные издержки{дополнительные издержки при производстве дополнительной единицы продукции)
opportunity costs – альтернативные издержки (выгода, упущенная вследствие неиспользования экономического ресурса в наиболее доходной из всех возможных сфер и отраслей хозяйства)
earn v зарабатывать; приносить доход; быть рентабельным
expenses n затраты, издержки
use v пользоваться, использовать; употреблять
use n 1. употребление, применение; 2. польза
include v (smth in smth) включать {что-л. в состав чего-л.)', содержать
to be included in smth включаться во что-л., являться частью чего-л.
commodity n товар; продукт, предмет потребления
amount n количество; величина; сумма; объем
alternative adj альтернативный; другой
elsewhere adv где-нибудь в другом месте
in particular – в особенности, в частности
own v владеть, обладать, иметь
own adj собственный, свой собственный
owner n 1. собственник; 2. владелец
run (ran, run) v (smth) руководить; управлять(предприятием, учреждением)', вести{дело)
business n предприятие; фирма
receive v получать
total adj полный; общий
corresponding adj соответственный; соответствующий
offer v (smth to smb) предлагать (что-л. кому-л.)
Аудиторная работа № 1
5. Назовите русские эквиваленты следующих интернациональных слов:
organization, elastic, lord, standard, person, personal, million, to circulate, to calculate, calculation, typically, equivalent, real, to cultivate, quota, syndicate, activity, migration
6. Определите, к какой части речи относятся следующие слова, и переведите их на русский язык, не пользуясь словарем:
1) to limit, limited, unlimited, limit, limitation
2) to change, changing, changed, unchanged, change
3) to affect, affected, unaffected, affecting
7. Назовите предложения, где пропущен эквивалент слова который. Переведите их на русский язык.
1. Supply is the amount of a good that will be offered in the market at a certain price and time.
2. Firms' decisions about how much to produce depend on the costs of production and on the revenues they receive from selling the output.
3. The amount of output firms want to offer depends on costs and revenues.
4. Inputs are the factors of production (land, labour and capital, including materials) that are put into a business for producing output as a commodity or a service.
5. The economist is interested in the role of costs and profits affecting the firm's supply decisions and the allocation of resources for producing particular goods.
6. There are a lot of factors in agriculture that must be assumed as risks by the farmers.
8. Переведите следующие словосочетания на русский язык. Обратите внимание на значения причастий и на интернациональные слова.
a business owned and run by one or more members of the same family; financial analysis using statistical information about the past and examining present market tendencies; limited resources; supplying farm commodities; commodities supplied by individual firms; men running their own businesses; commodities offered at the market; decisions following the economic analysis; goods consumed; choice restrictions imposed by prices
9. Замените русские слова в скобках их английскими эквивалентами.
1. For each output level (производственные издержки) depend on technology.
2. The concepts (понятия) of (предельных издержек) and (предельного дохода) are of great (польза) for economic analysis, supply analysis, (в особенности).
3. For each possible (объема производства) level, a firm will want to know how much it will cost to produce this (продукцию) and how much (дохода) will be (заработано) by selling it.
4. Land is one of the factors of production called natural resources (включая) also minerals, water, weather, etc.
5. The concept of (альтернативных издержек) is of great importance in economics because it affects every decision in which limited resources and a choice between (альтернативными использованиями) play their role.
6. The financial capital may be used (где-нибудь еще) and bring in profit.
Задание на дом № 2
10. Раскройте скобки и употребите глаголы в соответствующей форме. Переведите предложения на русский язык.
1. Mixed economy is an economic system in which some industries (to own) by the state and others (to own) by private persons and firms.
2. When supply is increased, a larger amount (to offer) at a given price.
3. The supply of agricultural products cannot be (to increase) within a very short period of time.
4. The aim of the Organization of Petroleum (to export) Countries (OPEC) (to found) in 1961 is to maintain a standard price for oil and, if necessary, to limit output. In 1973 the OPEC suddenly (to begin) to use its influence (to raise) the world price of oil so that by the end of 1974 the price (to rise) three times in most (to import) countries. It (to increase) many times since then.
5. Marginal revenue is the additional revenue (to earn) by a producer from selling one more unit of his product.
6. Money supply is the total amount of money (to hold) by all persons and organizations in a country at a particular time.
7. The revenue (to obtain) from selling output depends on the demand.
8. Landless farmers, that is, farmers (to own) no land, have to cultivate land (to own) by others.
9. Economists use the word «capital» for goods not entirely (to use) up in the production process, during a particular period. Electricity is not «capital» as it (to use) entirely in the production process.
10. With less risk of a fall of price between the time decisions (to make) and commodities (to sell), producers will use additional inputs.
11. Supply (to depend) on output prices and input prices. An increase in the price of an input (to result) in a reduced use of that input. A reduction in the price of an output (to have) the same effect as an increase in the price of input, that is, a reduced use of input. The input use (not to change), provided output and input prices (to rise) or (to fall) by an equal percentage. Thus, the effect on output of a decrease in product prices (can) (to be neutralized) by an equal percentage decrease in input prices. Sometimes the prices of inputs and outputs (to change) together. For example, a fall of livestock product prices (to reduce) the demand for feed grains. This (to lead) to a fall in the price of feeds, that is, the price of inputs.
11. a) Вставьте пропущенные предлоги, где это необходимо.
1. The growth… output… person rather than the growth… total output is… greater importance… an economy.
2. The companies selling consumer goods recognize the importance… consumer preferences; they spend over $40 billion… a year… the US… advertising trying to direct consumer preferences… their own products.
3. An increase or a decrease… total revenue may follow… a price rise and a decrease… the quantity produced accompanying it. The effect depends… which change is larger – the change… price or the change… the quantity produced.
4. After a particular market is defined… terms… its product and its geographic area, the economist can study the workings… demand and supply… that particular market.
5. As the price… a good increases, consumers can buy less… all goods, including… the good whose price has risen.
6. Opportunity costs and amounts paid… all resources are included… total costs.
7. The output… beer… Russia's largest beer maker, Baltika Brewery, grew… 30 percent… 1999… the previous year.
8… 1999, industrial production… Russia increased… 7.9 percent but the output… agricultural sector decreased… 0.6 percent compared… 1998 level.
9. Every field, economics… particular, has its «schools» and groups. «Liberal» economists believe… market system opportunities. But they also believe… government support and regulation… an economy. «Classical liberals» or the «Chicago Group» rely… people's private choices as the rational basis… the economic system. «Radical» economists, including… Marxists and other critics, believe that free-market capitalism must result… depressions and mass unemployment. They assume that governments must ran… all economic units and make all economic decisions.
б) Кратко охарактеризуйте три основные школы экономической мысли, о которых говорится в пункте 9.
Аудиторная работа № 2
12. а) Ответьте на вопросы к тексту Theory of Supply.
1. What is the principal assumption of the supply theory?
2. What is the difference between profit and revenue?
3. What is included in costs of production?
4. How do firms get maximum profits?
5. When are profits the highest?
6. When should firms close down?
7. What is the relationship between marginal revenue, marginal cost and output?
8. What is market supply? What is market supply important for?
б) Подумайте и скажите:
1. Why is it necessary to know the effect of a price change on the whole output rather than the supply of individual firms for making economic forecasts?
2. Can you give an example of technology influencing the quantity supplied?
13. Раскройте скобки и выберите подходящее по смыслу слово из предлагаемых вариантов.
1. Farmers may (own / earn /run) more revenue from a bad harvest (урожай) than from a good harvest.
2. A rise in the income of consumers will typically result in an equivalent increase in (corresponding /total /alternative) consumer expenditure.
3. Statistics show the greatest increase in the number of jobs in the American non-production sector, among government workers (in terms of / elsewhere /in particular) today.
4. Don't forget to calculate the (marginal cost /costs /opportunity cost) of the man's labour, that is, the money that he could (own /earn /offer) by working elsewhere.
5. In Marxist theory, proletariat is the social class of workers who have to sell their (corresponding /own /total) ability to work.
6. If we want to understand how firms make output decisions, we must analyze how they determine (revenues /output /amounts) snd(commodities /costs /profits).
14. Составьте предложения из двух подходящих по смыслу частей.
1. Market demand is
2. An improvement in technology is a change that
3. Profits are
4. As long as the total demand and the total supply of the commodity remain equal,
5. Part of a company's profits is put back into the business rather than
6. Examining how revenues and costs change with the level of output produced and sold,
7. With inflation, people have to increase expenditure because
8. Profit depends on
9. Opportunity cost is the amount
a. revenues minus costs.
b. the firm can select the output level maximizing its profit.
c. paid out as dividends.
d. the equilibrium price will remain unchanged.
e. makes it possible for firms to produce more goods with the same amount of resources as before.
f. how much the amount received is greater than the amounts paid.
g. the total demand from all consumers.
h. the old level of expenditure in money terms now buys a smaller quantity of goods.
i. an input can obtain in its use elsewhere.
15. Переведите следующие предложения на русский язык, обращая внимание на перевод причастий I и II.
1. The syndicate controls prices and output and, allotting (отводить, выделять) quotas to its members, it divides the market demand among them.
2. Boom is a period of increased business activity when a rising demand for all commodities results in increased industrial production.
3. If free migration between countries is allowed, people from poor countries will be able to go elsewhere looking for higher incomes.
4. People working in their own businesses should calculate the cost of their own time spent in running the business.
5. Varying input, the firm can vary output.
6. The work of a farmworker and the work of a nurse are very different, but both are measured in terms of payment received.
Задание на дом № 3
16. Переведите предложения на русский язык, обращая внимание на слова и словосочетания из словарного минимума к тексту Theory of Supply.
1. The aim of macroeconomics is to examine and explain economic facts for the total nation, such as the total money supply, production, consumption, etc.
2. Profit is the revenue from selling the output minus the costs of inputs used.
3. For each level of output, the marginal costs are lower as the input price decreases.
4. A business needs some financial capital to start the business before the corresponding revenue is earned.
5. If bad harvests raise farmers' revenues and good harvests result in a fall in agricultural prices and farmers' revenues, you may now be thinking why farmers do not get together and restrict their supply thus increasing revenues.
6. Opportunity costs should be counted for labour and financial capital used.
7. European firms (and some from the United States and elsewhere) cooperate with East-European firms.
8. A change in the price of input, price of alternative output, technological factors, and the number of firms will result in a market supply change.
17. Переведите предложения на английский язык.
1. Рыночный спрос – это общий спрос на товар в обществе.
2. Не все партнеры в деле должны принимать активное участие в управлении фирмой.
3. Нелегко рассчитать доход, издержки и прибыли для большого предприятия.
4. Фермер – это человек, который владеет и управляет фермой.
5. Когда цена поднимается выше предельных издержек, каждый производитель хочет производить больше.
6. Даже при нулевой выработке фирма должна оплачивать некоторые расходы.
7. Издержки должны включать альтернативные издержки всех ресурсов, используемых в производстве.
18. а) Замените подчеркнутые части предложений причастными оборотами. Про изведите в этих предложениях все необходимые изменения.
Opportunity cost is a fundamental concept of economics. Opportunity cost is the economic cost of using scarce resources in terms of the alternatives elsewhere. This concept is of value for all economic choices. In every choice the person has to take one action rather than others. For each choice, the person compares the benefits and costs of each alternative and tries to get the maximum benefit.
1. Временные формы глаголов и причастий I и II ( повторение)
2. Бессоюзное присоединение определительных придаточных предложений
Задание на дом № 1
1. В разделе «Грамматика и словообразование» проработайте § 10.
2. Переведите следующие предложения на русский язык, обращая внимание на бессоюзное присоединение определительных придаточных предложений.
The European economy of the 2020s will be very different from that of the Europe we have known for the last decades.
Higher incomes have much more influence on the way people eat (more meat, less bread) than on the amount they eat.
With changed prices the consumer has to change the quantities he demands if he is to maintain utility at the same level.
Real income is the amount of the goods and services a consumer can buy with his money income.
A consumer is a person who consumes the products and services he buys.
The price at the time the good is ready for marketing may be different from the price at the time the decision to produce it was made.
3. Переведите текст Theory of Supply и отработайте его чтение.
4. Найдите в тексте:
определительные придаточные предложения, присоединенные к главному предложению без союзного слова (последний абзац);
причастие II в постпозиции (второй абзац);
причастные обороты (третий, четвертый, девятый абзацы);
одиночные причастия, употребленные в качестве левого определения к существительному (второй и седьмой абзацы).
TEXT
Theory of Supply
The theory of supply is the theory of how much output firms choose to produce. The principal assumption of the supply theory is that the producer will maintain the level of output at which he maximizes his profit.
Profit can be defined in terms of revenue and costs. Revenue is what the firm earns by selling goods or services in a given period such as a year. Costs are the expenses which are necessary for producing and selling goods or services during the period. Profit is the revenue from selling the output minus the costs of inputs used.
Costs should include opportunity costs of all resources used in production. Opportunity cost of a commodity is the amount obtained by an input in its best alternative use (best use elsewhere). In particular, costs include the owner's time and effort in running a business. Costs also include the opportunity cost of the financial capital used in the firm.
Aiming to get higher profits, firms obtain each output level as cheaply as possible. Firms choose the optimal output level to receive the highest profits. This decision can be described in terms of marginal cost and marginal revenue.
Marginal cost is the increase in total cost when one additional unit of output is produced.
Marginal revenue is the corresponding change in total revenue from selling one more unit of output.
As the individual firm has to be a price-taker[6], each firm's marginal revenue is the prevailing market price. Profits are the highest at the output level at which marginal cost is equal to marginal revenue, that is, to the market price of the output. If profits are negative at this output level, the firm should close down.
An increase in marginal cost reduces output. A rise in marginal revenue increases output. The optimal quantity also depends on the output prices as well as on the input costs. Of course, the optimal supply quantity is affected by such noneconomic factors as technology, environment, etc[7].
Making economic forecasts, it is necessary to know the effect of a price change on the whole output rather than the supply of individual firms.
Market supply is defined in terms of the alternative quantities of a commodity all firms in a particular market offer as price varies and as all other factors are assumed constant.
Словарный минимум к тексту
output n продукция; объем производства
profit и прибыль, доход
in terms of – в смысле; с точки зрения; в отношении; в переводе на
in terms of money – в денежном выражении
revenue и доход
marginal revenue – предельный, маржинальный доход{дополнительный доход, который получит производитель в результате продажи одной дополнительной единицы продукции)
costs – издержки, расходы
marginal costs – предельные, маржинальные издержки{дополнительные издержки при производстве дополнительной единицы продукции)
opportunity costs – альтернативные издержки (выгода, упущенная вследствие неиспользования экономического ресурса в наиболее доходной из всех возможных сфер и отраслей хозяйства)
earn v зарабатывать; приносить доход; быть рентабельным
expenses n затраты, издержки
use v пользоваться, использовать; употреблять
use n 1. употребление, применение; 2. польза
include v (smth in smth) включать {что-л. в состав чего-л.)', содержать
to be included in smth включаться во что-л., являться частью чего-л.
commodity n товар; продукт, предмет потребления
amount n количество; величина; сумма; объем
alternative adj альтернативный; другой
elsewhere adv где-нибудь в другом месте
in particular – в особенности, в частности
own v владеть, обладать, иметь
own adj собственный, свой собственный
owner n 1. собственник; 2. владелец
run (ran, run) v (smth) руководить; управлять(предприятием, учреждением)', вести{дело)
business n предприятие; фирма
receive v получать
total adj полный; общий
corresponding adj соответственный; соответствующий
offer v (smth to smb) предлагать (что-л. кому-л.)
Аудиторная работа № 1
5. Назовите русские эквиваленты следующих интернациональных слов:
organization, elastic, lord, standard, person, personal, million, to circulate, to calculate, calculation, typically, equivalent, real, to cultivate, quota, syndicate, activity, migration
6. Определите, к какой части речи относятся следующие слова, и переведите их на русский язык, не пользуясь словарем:
1) to limit, limited, unlimited, limit, limitation
2) to change, changing, changed, unchanged, change
3) to affect, affected, unaffected, affecting
7. Назовите предложения, где пропущен эквивалент слова который. Переведите их на русский язык.
1. Supply is the amount of a good that will be offered in the market at a certain price and time.
2. Firms' decisions about how much to produce depend on the costs of production and on the revenues they receive from selling the output.
3. The amount of output firms want to offer depends on costs and revenues.
4. Inputs are the factors of production (land, labour and capital, including materials) that are put into a business for producing output as a commodity or a service.
5. The economist is interested in the role of costs and profits affecting the firm's supply decisions and the allocation of resources for producing particular goods.
6. There are a lot of factors in agriculture that must be assumed as risks by the farmers.
8. Переведите следующие словосочетания на русский язык. Обратите внимание на значения причастий и на интернациональные слова.
a business owned and run by one or more members of the same family; financial analysis using statistical information about the past and examining present market tendencies; limited resources; supplying farm commodities; commodities supplied by individual firms; men running their own businesses; commodities offered at the market; decisions following the economic analysis; goods consumed; choice restrictions imposed by prices
9. Замените русские слова в скобках их английскими эквивалентами.
1. For each output level (производственные издержки) depend on technology.
2. The concepts (понятия) of (предельных издержек) and (предельного дохода) are of great (польза) for economic analysis, supply analysis, (в особенности).
3. For each possible (объема производства) level, a firm will want to know how much it will cost to produce this (продукцию) and how much (дохода) will be (заработано) by selling it.
4. Land is one of the factors of production called natural resources (включая) also minerals, water, weather, etc.
5. The concept of (альтернативных издержек) is of great importance in economics because it affects every decision in which limited resources and a choice between (альтернативными использованиями) play their role.
6. The financial capital may be used (где-нибудь еще) and bring in profit.
Задание на дом № 2
10. Раскройте скобки и употребите глаголы в соответствующей форме. Переведите предложения на русский язык.
1. Mixed economy is an economic system in which some industries (to own) by the state and others (to own) by private persons and firms.
2. When supply is increased, a larger amount (to offer) at a given price.
3. The supply of agricultural products cannot be (to increase) within a very short period of time.
4. The aim of the Organization of Petroleum (to export) Countries (OPEC) (to found) in 1961 is to maintain a standard price for oil and, if necessary, to limit output. In 1973 the OPEC suddenly (to begin) to use its influence (to raise) the world price of oil so that by the end of 1974 the price (to rise) three times in most (to import) countries. It (to increase) many times since then.
5. Marginal revenue is the additional revenue (to earn) by a producer from selling one more unit of his product.
6. Money supply is the total amount of money (to hold) by all persons and organizations in a country at a particular time.
7. The revenue (to obtain) from selling output depends on the demand.
8. Landless farmers, that is, farmers (to own) no land, have to cultivate land (to own) by others.
9. Economists use the word «capital» for goods not entirely (to use) up in the production process, during a particular period. Electricity is not «capital» as it (to use) entirely in the production process.
10. With less risk of a fall of price between the time decisions (to make) and commodities (to sell), producers will use additional inputs.
11. Supply (to depend) on output prices and input prices. An increase in the price of an input (to result) in a reduced use of that input. A reduction in the price of an output (to have) the same effect as an increase in the price of input, that is, a reduced use of input. The input use (not to change), provided output and input prices (to rise) or (to fall) by an equal percentage. Thus, the effect on output of a decrease in product prices (can) (to be neutralized) by an equal percentage decrease in input prices. Sometimes the prices of inputs and outputs (to change) together. For example, a fall of livestock product prices (to reduce) the demand for feed grains. This (to lead) to a fall in the price of feeds, that is, the price of inputs.
11. a) Вставьте пропущенные предлоги, где это необходимо.
1. The growth… output… person rather than the growth… total output is… greater importance… an economy.
2. The companies selling consumer goods recognize the importance… consumer preferences; they spend over $40 billion… a year… the US… advertising trying to direct consumer preferences… their own products.
3. An increase or a decrease… total revenue may follow… a price rise and a decrease… the quantity produced accompanying it. The effect depends… which change is larger – the change… price or the change… the quantity produced.
4. After a particular market is defined… terms… its product and its geographic area, the economist can study the workings… demand and supply… that particular market.
5. As the price… a good increases, consumers can buy less… all goods, including… the good whose price has risen.
6. Opportunity costs and amounts paid… all resources are included… total costs.
7. The output… beer… Russia's largest beer maker, Baltika Brewery, grew… 30 percent… 1999… the previous year.
8… 1999, industrial production… Russia increased… 7.9 percent but the output… agricultural sector decreased… 0.6 percent compared… 1998 level.
9. Every field, economics… particular, has its «schools» and groups. «Liberal» economists believe… market system opportunities. But they also believe… government support and regulation… an economy. «Classical liberals» or the «Chicago Group» rely… people's private choices as the rational basis… the economic system. «Radical» economists, including… Marxists and other critics, believe that free-market capitalism must result… depressions and mass unemployment. They assume that governments must ran… all economic units and make all economic decisions.
б) Кратко охарактеризуйте три основные школы экономической мысли, о которых говорится в пункте 9.
Аудиторная работа № 2
12. а) Ответьте на вопросы к тексту Theory of Supply.
1. What is the principal assumption of the supply theory?
2. What is the difference between profit and revenue?
3. What is included in costs of production?
4. How do firms get maximum profits?
5. When are profits the highest?
6. When should firms close down?
7. What is the relationship between marginal revenue, marginal cost and output?
8. What is market supply? What is market supply important for?
б) Подумайте и скажите:
1. Why is it necessary to know the effect of a price change on the whole output rather than the supply of individual firms for making economic forecasts?
2. Can you give an example of technology influencing the quantity supplied?
13. Раскройте скобки и выберите подходящее по смыслу слово из предлагаемых вариантов.
1. Farmers may (own / earn /run) more revenue from a bad harvest (урожай) than from a good harvest.
2. A rise in the income of consumers will typically result in an equivalent increase in (corresponding /total /alternative) consumer expenditure.
3. Statistics show the greatest increase in the number of jobs in the American non-production sector, among government workers (in terms of / elsewhere /in particular) today.
4. Don't forget to calculate the (marginal cost /costs /opportunity cost) of the man's labour, that is, the money that he could (own /earn /offer) by working elsewhere.
5. In Marxist theory, proletariat is the social class of workers who have to sell their (corresponding /own /total) ability to work.
6. If we want to understand how firms make output decisions, we must analyze how they determine (revenues /output /amounts) snd(commodities /costs /profits).
14. Составьте предложения из двух подходящих по смыслу частей.
1. Market demand is
2. An improvement in technology is a change that
3. Profits are
4. As long as the total demand and the total supply of the commodity remain equal,
5. Part of a company's profits is put back into the business rather than
6. Examining how revenues and costs change with the level of output produced and sold,
7. With inflation, people have to increase expenditure because
8. Profit depends on
9. Opportunity cost is the amount
a. revenues minus costs.
b. the firm can select the output level maximizing its profit.
c. paid out as dividends.
d. the equilibrium price will remain unchanged.
e. makes it possible for firms to produce more goods with the same amount of resources as before.
f. how much the amount received is greater than the amounts paid.
g. the total demand from all consumers.
h. the old level of expenditure in money terms now buys a smaller quantity of goods.
i. an input can obtain in its use elsewhere.
15. Переведите следующие предложения на русский язык, обращая внимание на перевод причастий I и II.
1. The syndicate controls prices and output and, allotting (отводить, выделять) quotas to its members, it divides the market demand among them.
2. Boom is a period of increased business activity when a rising demand for all commodities results in increased industrial production.
3. If free migration between countries is allowed, people from poor countries will be able to go elsewhere looking for higher incomes.
4. People working in their own businesses should calculate the cost of their own time spent in running the business.
5. Varying input, the firm can vary output.
6. The work of a farmworker and the work of a nurse are very different, but both are measured in terms of payment received.
Задание на дом № 3
16. Переведите предложения на русский язык, обращая внимание на слова и словосочетания из словарного минимума к тексту Theory of Supply.
1. The aim of macroeconomics is to examine and explain economic facts for the total nation, such as the total money supply, production, consumption, etc.
2. Profit is the revenue from selling the output minus the costs of inputs used.
3. For each level of output, the marginal costs are lower as the input price decreases.
4. A business needs some financial capital to start the business before the corresponding revenue is earned.
5. If bad harvests raise farmers' revenues and good harvests result in a fall in agricultural prices and farmers' revenues, you may now be thinking why farmers do not get together and restrict their supply thus increasing revenues.
6. Opportunity costs should be counted for labour and financial capital used.
7. European firms (and some from the United States and elsewhere) cooperate with East-European firms.
8. A change in the price of input, price of alternative output, technological factors, and the number of firms will result in a market supply change.
17. Переведите предложения на английский язык.
1. Рыночный спрос – это общий спрос на товар в обществе.
2. Не все партнеры в деле должны принимать активное участие в управлении фирмой.
3. Нелегко рассчитать доход, издержки и прибыли для большого предприятия.
4. Фермер – это человек, который владеет и управляет фермой.
5. Когда цена поднимается выше предельных издержек, каждый производитель хочет производить больше.
6. Даже при нулевой выработке фирма должна оплачивать некоторые расходы.
7. Издержки должны включать альтернативные издержки всех ресурсов, используемых в производстве.
18. а) Замените подчеркнутые части предложений причастными оборотами. Про изведите в этих предложениях все необходимые изменения.
Opportunity cost is a fundamental concept of economics. Opportunity cost is the economic cost of using scarce resources in terms of the alternatives elsewhere. This concept is of value for all economic choices. In every choice the person has to take one action rather than others. For each choice, the person compares the benefits and costs of each alternative and tries to get the maximum benefit.