I Find in the text and give Russian equivalents of the following words and word combinations.

Types of Economic Systems.

Every society has worked out a way to answer the questions of What, How and Who. These economic systems, as they are called, generally fall into one of three categories: traditional, command and market economies. The questions of what the traditional society produces and how it is produced are determined by very slowly changing traditions. Traditional economic systems are less common today than they were in earlier decades. Typically, in a traditional economy, most of the people live in rural areas and engage in agriculture or other basic activities such as fishing or hunting. The goods and services produced in such a system are those that have been produced for many years or even generations.

Countries such as Cuba, North Korea, and China are examples of command economies. Groups of high-level technicians, made up of engineers, economists, computer experts and industry specialists known as "planners," advise political leaders who develop and implement a plan for the entire economy. Essentially, it is the planners who decide what goods and services will be produced. It is the planners, too, with guidance from the country's political leadership, who decide who will receive the goods and services produced.

A market economy is one in which the decisions of many individual buyers and sellers interact to determine the answers to the questions of What, How and Who. In addition to buyers and sellers, there are several other essential elements in a market economy. One of these is private property. Although markets exist in traditional and command economies, the major means of production (firms, factories, farms, mines, etc.) are usually publicly owned. In a market economy the means of production, are owned by private individuals. Private ownership gives people the incentive to use their property to produce things that will sell and earn them a profit.

Vocabulary practice

I Find in the text and give Russian equivalents of the following words and word combinations.

Economic systems; to fall into categories; traditional economy; command economy; market economy; to be determined by; changing traditions; to be less common; in earlier decades; typically; to live in rural areas; basic activities; generation; high-level technicians; computer experts; planners; to implement a plan; entire economy; essentially; guidance from the country's political leadership; individual buyers and sellers; in addition to; essential elements; private property; major means of production; mines; etc.; to be publicly owned; private individuals; private ownership; to give the incentive; to earn a profit.

Дата добавления: 2015-11-16