X. Переведите текст письменно.

The word “economy” is the word we hear or read almost every day. For example, we may be told that “the world economy is in deadlock”, or “European economy is making little progress out of recession”, or “the UK economy is beginning to recover”, or “Scottish economy has held up relatively well during the recent recession”.

But what is meant by “economy”? What is economy? What happens under different economic conditions? How does economy work?

Economy means a system for management, use and control of money, goods and other resources of a country, community or household. The economy comprises millions of people and thousands of firms as well as the government and local authorities. All of them take decisions about prices and wages, what to buy, sell, produce, export, import and many other matters. All these organizations and the decisions taken play a prominent part in creating the business environment in which firms exist and operate.

Контрольная работа №1

п о английскому языку для студентов экономических специальностей

заочного отделения

I семестр

Вариант 2

I. Прочитайте и переведите текст (устно). Mixed economy

There are three types of management in economies. Economy may be almost totally planned, as it was in the Soviet Union. Economy may be almost totally unplanned, as it is in the USA. Or economy may be a combination of planning and freedom of operation. Examples of the latter are Japan and South Korea.

In a planned economy the government decides what goods are to be produced and how they are to be marketed. Governments set all the priorities, and the producers are to follow the directions given to them.

In a partially planned economy such as Japanese, the government often encourages industry and helps it with subsidies. The government also makes investments and regulates trade.

The United States is an example of an unplanned economy. But it has a lot of government intervention in economic activity. As the economy of the United States grew, and as the government and its importance increased, the government policy at every level acquired greater importance for the economy.

But the economy of the United States may be called unplanned because the government does not regulate what will be produced and how it will be marketed. These decisions are left to the producers. Even the great amount of government regulation that has emerged since the Great Depression has not turned the economy of the United States into a planned economy.

The name of the American economic system is capitalism. Another name for it is the free market economy.

II. Выберите правильный вариант ответа на вопросы к тексту.

1. Who makes all the decisions about production and consumption in a planned economy?

a) the government

b) producers

c) managers

2. Which type does the economy of Japan belong to?

a) planned economy

b) unplanned economy

c) partially planned economy

3. How are the resources allocated in the United States of America?

a) entirely through the markets

b) by central planning

c) with a large dose of government intervention