Say whether these statements true (T) or false (F), and if they are false say why.

a) Private property in a capitalist state is reduced to a minimum.

b) There are no limits on land, mineral resources and capital.

c) The market economy dominates in socialist economic system.

d) Central planning by the State is an essential part of the socialist system.

e) The central authority decides on the quantity, quality, price and place of sale of any commodity.

f) The central authority is responsible for the economy but is not concerned with methods of production.

g) Individuals are free to set up their business in command economy.

h) Command economy is concerned with the needs of the private individual.

i) Collective needs are more important in a socialist state than the needs of the individual.

2. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:

To be limited to smth, private property, central planning, to organize effort, central authority, to charge a price for smth., to require, to plan over, quantity, methods of production, ownership, to be responsible for, feature, to prevail, business venture.

3. Give English equivalents to the following words and word combinations from the text:

Якість, держава, необмежена влада, розподіляти, виголошувати, приватне підприємство, належати до, дозволяти, засоби виробництва, мати відношення до, підпорядковуватися, ділянка, приватне майно, споживач, дохід.

4. Match the words from column A with the words from column B:

A B

1. Private	a) possessions
2. organize	b) a price for
3. personal	c) authority
4. charge	d) efforts
5. central	e) of production
6. means	f) property

5. In each of the sentences a word is missing. Provide a word or word combinations from the text:

a) All … have to solve the same problems.

b) In market economy countries people are … to set up their business.

c) Countries have limited amounts of land, …, ….

d) Private … of the means of production is the main feature of the market economy.

e) Citizens … a wide range of services and products.

f) A … economy state provides its citizens with all the necessities.

g) In the command economy the government decides how to … goods and services.

6.a Change the listed adjectives into adverbs ( ly or - ally as necessary)

a) usual e) clear h) systematic

b) regular f) scientific i) careful

c) considerable g) complete j) rapid

d) probable

6.b Complete the following sentences with these adverbs:

a) The new government worked … to change the laws.

b) The central authority … controls the quality of goods.

c) The State … plans the economic effort of its citizens.

d) The economic system changed … over the thirty year period.

e) Work in economics always should be done ….

f) Their economic system is … capitalistic.

g) The employers will … discuss the use of new machines in the factory.

h) The city has changed … in the last few years.

i) These men work … from nine o’clock till five every day.

7. Supply the missing prepositions where necessary:

a) The central authority is concerned.. methods of production.

b) His personal possessions were finally reduced … nothing.

c) They charged quite a lot of money … that commodity.

d) The government is usually responsible … the people.

e) Citizens are required to obey … the law.

f) He agreed … the other economists that the system was unusual.

g) The government paid him well … the work he did.

h) The consumption … coal and steel has increased greatly … recent years.

8.Match the words from column A with the words from column B which mean the opposite:

A B

1. theoretical

2. private

3. individual

4. mineral

5. capitalist

6. simple

7. buying

8. minimum

9. national

a) local

b) maximum

c) selling

d) complex

e) socialist

f) organic

g) collective

h) public

i) practical

9. Rearrange the words to make up sentences:

a) in / have / countries / very / Citizens / private / socialist / property / little.

b) the / USA / In / economy / controls / of / the / very / area / small /

government / the.

c) The authority / to / what / decides / produce.

d) complete / with / power / controls / A central authority / prices.

e) The / must / national / economy / be planned.

f) The / system / needs / is related to / of / the / state / the.

g) distributes / The government / prices / for / charges / and / goods.

10. Certain nouns can be formed from certain adjectives. Make a list of the nouns and put each word in its place. NOTE the loss of the letter e in active, secure, mobile and productive.

EXAMPLE: activity → active

a) The system was complex. Its … surprised him.

b) The movement of the products in the factory was rapid. The … of the work contributed to their success.

c) People who have cars are very mobile. This … is a useful thing.

d) The National Bank has a solid reputation. Its … in money is similar to the … of its buildings.

e) The national economy, like a man, should be active. Its … is a sign of its health.

f) Your money is secure in the National Bank. Its … is important both to you and to the bankers.

g) The workers in those factories are very productive. Their… is very useful to the national economy.

h) Those men arrive regularly at nine o’clock. Their … is well-known.

i) The American and British economic systems are very similar. This... is not surprising.

j) Those two men earn equal sums of money they have … in wages because they produce the same quantity of the goods.

k) The exchange of money should be as liquid as possible. The … of money helps the economy to grow.

11.The table shows how words are formed around the verb produce. List all the words you can make from the table and use them in the suitable blanks in the sentences.

PRODUC	E	R
T	IV(E)	ITY
ION

a) The company … a new commodity every year.

b) The company’s newest... is special blue soap powder.

c) The … of soap powders met last year to discuss prices.

d) That factory is not as … now as it was five years ago.

e) The … of that factory goes down.

f) The manager of the factory decided that they must increase their … of packets of soap powder.

12. Extend the idea:

a) Market economy is based on private ownership.

b) Command economy is controlled by the government.

c) Command economy limits individuals’ freedom.

13. Do the crossword:

Across:

2. Command states control not only quantity but also ….

3. This private … produces soap powder.

4. Economists’ … should be objective and scientific.

5. It’s a noun from the verb in sentence 3.

6. Citizens … services.

7. Governments … goods in communist countries.

8. Parents do not … their children to play with matches.

9. The economists call people’s personal possessions their private ….

Down:

1. It has complete power in socialist states.

14. Complete the network with adjectives which go with the word ‘ economy’.

15. Translate into English:

1. Соціалізм – це політична та економічна ідеологія. Вона виголошує, що держава повинна володіти всією власністю, а також розподіляти та планувати народне господарство на декілька років вперед.

2. Державне планування обмежує діяльність виробника та допомагає організувати зусилля заводів, визначати ціну за товар, його якість та кількість.

3. Держава контролює ціни на паливо, горілчані та тютюнові вироби.

4. Директор заводу є відповідальним за роботу підприємства.

5. Приватне підприємство належить громадянину і дозволяє йому обирати товар, методи його виробництва, його кількість.

6. Центральні власті з необмеженою владою надають громадянам всі послуги, які вони потребують.

7. Ринкова система базується на власності на засоби виробництва та на приватному підприємництві.

8. Держава планує розвиток економіки на п’ять років в державах з центрально-керованою системою.

9. Ринкова економіка дуже відрізняється від командної. Споживачі можуть витрачати свій дохід на все, що вони забажають.

QUESTIONS FOR DISCUSSION

1. Work in pairs. Make the list of the main differences between command and market economies. Compare and discuss your lists with your partner.

2. What type of the economy is in the country you live in? Was it always like that or has it changed? If it has changed, how has it affected your life, life of your parents, your friends?

VOCABULARY

English	Ukrainian	Russian
In addition	крім того	кроме того, к тому же
To allow	дозволяти	разрешать
Capital	капітал	капитал
To charge price for	визначати ціну за	назначать цену
A command economy	командна економіка	командная экономика
A consumer	споживач	потребитель
To dispose of smth	розпоряджатися ч-н.	распоряжаться ч-л.
To distribute	розподіляти	распределять
To dominate	переважати, мати перевагу	доминировать, преобладать
An effort	зусилля	усилия
Factors of production	чинники виробництва	факторы производства
A feature	риса	черта
A free enterprise economy	економіка вільного підприємництва	экономика частного предпринимательства
Income	дохід	доход
To be limited to smth	бути обмеженим, скороченим	быть ограниченным, сократиться до ч-л
Market economy	ринкова економіка	рыночная экономика
A plot of land	ділянка	участок земли
To prevail	переважати, мати перевагу	преобладать
Public/private ownership of the means of production	громадська/приватна власність на засоби виробництва	общественная/частная собственность на средства производства
Quality	якість	качество
Quantity	кількість	количество
To require	потребувати	требовать, нуждаться
To be responsible for smth	відповідати за що-н	отвечать за ч-л
To be responsible to smb	підпорядковуватися к-н	подчиняться к-л
To be subordinated to smb	підпорядковуватися к-н	подчиняться к-л
Venture	підприємство	предприятие

UNIT 6

Mixed economies

WARMING-UP

1. Work in groups or as a class. Discuss the following questions:

a) What abbreviations do you use in your life?

b) How often do you use them?

c) What do many professionals use abbreviations?

d) What do these abbreviations stand for: the USA, the former USSR, the UK, EU, UN?.

2. Work with a partner. Make the abbreviations from the groups of names listed below (keep the definite article the where this is customary):

EXAMPLE: British Petroleum → BP

a) Organisation for Economic Cooperation and Development.

b) The European Economic Community.

c) World Health Organisation.

d) The International Labour Organisation.

e) Trans World Airlines.

f) European Common Market.

g) World Intellectual Property Organisation

h) European Bank of Research and Development

i) United Nations Educational, Scientific and Cultural Organisation

3. Look up in a dictionary what these abbreviations stand for and complete the sentences:

a) Just as Rd is short for Road, St and Sq are short for … and ….

b) # 24 in the USA and № 24 in Britain both mean … 24.

c) In a report or textbook e.g. means …, i.e. stands for …, etc. means ….

d) A British company’s name may be followed by the abbreviation plc or PLC (short for …), Ltd (…) or & Co. (…).

e) An American firm’s name may be followed by Corp. (…) or Inc. (…).

4. Work with a partner. Fill in the gaps:

a) VIP: Very Important …;

b) NATO: North … Treaty Organisation;

c) AGM: … general meeting;

d) CEO: … Executive Officer;

e) EDP: Electronic … Processing;

f) HQ: Head…;

g) IT: … Technologies;

h) MBA: Master of Business …;

i) IBM: International … Machines.

PRE-READING

1. Work with a partner. List as many companies as you know with abbreviated names. What countries are they in? What line of business are they in?

2. Match these definitions with the words below:

a) Economic system in which anyone can attempt to raise capital, form business, and offer goods or services	1. mixed economy
b) Economy with both private and public sectors	2. free enterprise
c) Industry owned by the government, for economic, social or strategic reasons	3.long-term planning
d) Planning which extends beyond five years	4.nationalized industry

3. Answer the questions:

a) What economic system do central-planned countries have?

b) Are there entirely capitalist and socialist countries in the 21^st century? Explain your answer.

4. Read the text and check your answers:

No state today is completely socialist or completely capitalist. The various national economic systems tend generally towards one type or the other. It is rather difficult to classify many of them exactly.

In many countries the authority has found necessary to control or regulate national economic conditions. Even the most dedicated free enterprise systems, such as the USA, have felt this need. The under-developed countries of the globe are usually interested in control and long-term planning.

Such countries as India have had a number of plans guided by the government. India makes a clear distinction between the public sector of its economy on the one hand and the private sector on the other hand.

Such systems, with public and private sectors, are neither socialist nor capitalist. Economists call systems of this type mixed economies.

Britain nowadays has a mixed economy. There are the nationalized industries like coal and steel, British Rail and British Overseas Airways Corporation (BOAC) in the public sector of British economic life. The majority of large and small nation’s industries are in the private sector. The private sector includes giant companies like ICI (Imperial Chemical Industries) and BP (British Petroleum) as well as a great number of small family businesses.

In 1962 the British government set up an official planning body to guide national economic policies. This body is called the National Economic Development Council (NEDC). The members of this council are representatives of the employers’ federations, employees, the Trades Union Congress, members of the government, eminent industrialists and leading economists.

The main function of the NEDC is to plan national production and set up production targets. It is however a very difficult matter to plan ahead in a mixed economy. It is not possible to plan ahead with any certainty even in a rigidly controlled economy, because natural disasters, political changes and other factors can affect the general plan in unexpected ways.

PRACTICE

1. In the text find single words in italics for which these words and word combinations can be substituted:

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