LeSsOn 20 exchange amd specialization

1. Read and memorize the following words, word- combinafions and word-groups:

gain — прибуток, виграш, зиск

e.g. An economy exists because there are gains from exchange and specialization, exchange — обмін

e.g. We would like to continue this trend of an educational exchange among teachers of our 2 countries, specialization — спеціалізація

e.g. Generally specialization leads to an increase in the production of goods and services, to value — оцінювати

e.g. He valued the house for me at 20,000 pounds, well-being — добробут

e.g. Exchange and specialization between individuals increase the well-being of individuals within an economy, to interact — взаємодіяти

e.g. Individuals sometimes interact in cooperative ways with other individuals.

explicit — чіткий, точний

e.g. He was quite explicit about the matter.

to facilitate — полегшувати, допомагати, сприяти

e.g. Modern inventions have facilitated housework.

measurable — вимірний

e.g. We came within measurable distance of success, subjective — суб'єктивний

e.g. Gains from exchange are not merely subjective, to provide an incentive — забезпечувати стимул, заохо­чувати

e.g. It provides an incentive for individuals to facilitate the exchanges among other individuals, preference — уподобання; перевага e.g. I should choose this in preference to any other, to enhance — збільшувати, посилювати, підвищувати e.g. That someone's well-being is enhanced by exchange does not imply that another person's well-being is undermined, to induce — спонукати, стимулювати e.g. What induced you to do such a thing, to take advantage oil smth. — скористатися з чогось

e.g. We shall take advantage of the situation, comparative advantage — відносна перевага e.g. An individual will be relatively better or have a comparative advantage, share — частка, пай

e.g. We shall all have a share in the profits, benefit — приносити/отримувати користь e.g. The new railway will benefit the district, to imply — означати, мати на увазі; передбачати e.g. Silence sometimes implies consent.

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II. Give English equivalents of the following:

частка прибутків

приносити користь партнерам по угоді

зиск від обміну та спеціалізації обмінюватися ресурсами та товарами взаємодіяти шляхом співпраці виразне бажання співпрацювати сприяти обміну та спеціалізації

підвищувати добробут забезпечувати стимул скористатися з при­бутків передбачати залежність збіпьшуватися завдяки обміну

3. Fill in the blanks with appropriate words:

1. Exchanges or trades of this sort increase ...

2. If individuals can freely ..., fhey can specialize in particular pro­duction activities.

3. Individuals sometimes ... with other individuals even though there is no explicit intention to cooperate.

4. It provides an incentive for indi­viduals ... among other indivi­duals.

5. It is impossible ... from speciali­zation without being witling to exchange.

.6. Trade between nations will also ... and will depend upon com­parative advantage.

7. Specialization ... on others for the goods that one might have produced but for which one trades.

interact in apparently, coo­perative ways to facilitate the exchanges individual well-being implies dependence exchange resources and goods

to take a dvantage of the gains

benefit all trading partners