- •В.В. Жданович Иностранный язык Экономика
- •660041, Г. Красноярск, пр. Свободный, 79
- •Vocabulary for the text
- •Microeconomics versus macroeconomics
- •Vocabulary developing
- •Vocabulary for the text
- •Economic Growth
- •Vocabulary developing
- •Where are the next economic miracles
- •Vocabulary developing
- •Vocabulary for the texts
- •Origins of money
- •Vocabulary developing
- •Image Linking in Microsoft Money Plus
- •Vocabulary developing
- •Vocabulary for the texts
- •Savings and consumption
- •Vocabulary developing
- •Vocabulary developing
- •Vocabulary for the texts
- •A Food Crisis?
- •Vocabulary developing
- •Make it cheaper and cheaper.
- •Vocabulary developing
- •Bibliography
- •Net Reference:
Vocabulary for the texts
expenditure n Collocations - excess expenditure - meet expenditures - public expenditure |
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outlay, cost, expenses, charges |
spending n Collocations - capital spendings - consumer spendings - government spending - total spending |
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expenditure |
deposit n, v |
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rationing n Collocations - to introduce rationing - to end, terminate rationing - food rationing |
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portioning |
scarce adj |
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insufficient, deficient, scanty |
lend v,n |
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1) to accommodate, to loan, to advance (v) 2) accommodation, borrowed money, loan (n) |
borrow v |
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to take, to adopt |
interest n Collocations - to own an interest - to bear, pay, yield - interest on a loan - rate of interest |
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1) advantage, benefit, good, profit; 2) share, part |
exceed v Collocations - exceed credit - exceed in quality |
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1) to transcend; 2) to surpass, to outdo |
allocate v |
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expand v Collocation - expanding industry |
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to develop |
investment n |
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subsidy n - price support subsidy - credit subsidy - export subsidies |
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grant-in-aid |
staple n, adj Collocations - staple commodities - staple foodstuffs |
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1) essential foodstuffs (n); 2) raw material 2) chief , main , principal (adj) |
READING 1
Savings and consumption
inflation |
A decrease in the purchasing power of money. That is, it now costs more money to buy the same range of goods as it did at an earlier date See also cost-push inflation; creeping inflation; demand-pull inflation; hidden inflation |
interest |
The cost of borrowed money. Banks pay interest to depositors because the former have in practice borrowed the money; borrowers pay interest to lenders. See also compound interest; liquidity premium. |
savings |
In general, income minus expenditure. By this definition, all income is either spent or saved, these are the only two categories and therefore savings plus expenditure must equal income. See also personal savings. |
time value of money |
The fact that money has earning power means that a person who will be paid 100 pounds would rather have the money today than at some time in the future. If money can earn six per cent per year, then a person who receives 100 has been given exactly the same spending power as a person who will be given 106 one year later. See also present value. |
COMPREHENSION
Exercise 1
a. Where do you think the text comes from? 1. a magazine article explaining how interest can be earned 2. different pages of an economics dictionary b. What are these paragraphs more useful for? 1. giving examples 2. giving meanings c. Does the paragraph on interest explain everything about the profits earned from lending money? If you wanted to know more, where else would you look?
Exercise 2
Complete the extracts with the phrases given after them: 1. Every government must decide on the (a) _____ , which may be defined how resources are shared out for production and consumption. Consumption is defined by economists as the use made of (b) _____. In a mixed economy (c) _____, this allocation may be achieved both by direct government action, (d) _____, and by price mechanisms. The latter (e) _____ and goods through the agency (effects) of price. The government has to take into account the extent to which patterns of production and consumption will change over a period of time when (f) _____.
Phrases: 1. such as by rationing 2. services and goods for the satisfaction of wants 3. it decides how resources should be allocated 4. (i.e. an economy that is part state controlled and part privately controlled) 5. allocation of scarce resources 6. may be defined as the distribution of services.
2. Every government has to decide how (g)______, by which is meant how they are to be used in consumption and production. When (h) _____, they mean the activity which results in the supply of goods and services. In (i) _____ (i.e. an economy that is part state controlled and part privately controlled) this allocation may be achieved both by direct government action, (j) _____, and by the distribution of goods and services through the agency (effects) of price. This form of distribution (k) _____. (l)_______ , the government must take into account the extent to which patterns of production and consumption will change over a period of time.
Phrases: 1. When deciding how resources should be allocated 2. economists refer to production 3. a mixed economy 4. scarce resources should be allocated 5. for instance, by rationing 6. is known as distribution by price mechanisms.