Exercise 6: Find a noun-pair for each verb having the same root; translate the pairs into Russian

to fall, consumer, to stabilize, organization, demand, to sell, buyer, in­fluence, to invest, to improve, consumption, fall, improvement, stabiliza­tion, to intervene, to organize, investment, seller, to consume, to buy, to demand, increase, to reduce, reduction, to influence, to increase, inter­vention

Exercise 7: Fill in the gaps with the following words and translate the sentences into Russian:

to impose, the same, surplus, to buy, consumer, to rise, to increase, equilibrium price, as

well as, to fall, shortage (2), inputs, normal

1... are the factors of production (land, labour, capital, materials) that are put into a business to produce goods and services.

2 When all goods are..., lower consumer income reduces the demanded quantity for all goods.

3 When the Beatles and Rolling Stones first became popular, the demand for haircuts (стрижка) suddenly....

4 When income..., the demand for most goods increases. Typically, con­sumers... more of everything.

5 At any time, the market price may not be the... leading to excess supply (...) or excess demand (...).

6 If there is a national food..., a government may... a ceiling price on food so that poor people can buy enough food.

7 Workers in poor countries having no resources for health and education are often less productive than workers using... technology in rich countries. And without higher productivity it is hard... investment in people... in machinery.

8. Japanese... pay as much as eight world prices for beef (говядина).

Exercise 8: Fill in the gaps with the word as or word-combination with as and translate the sentences into Russian:

1 The newly industrialized countries... Brazil, Mexico, Hong Kong, South Korea and Singapore, grew twice... quickly... the rich industrialized countries during the 1970s.... a group, their share of world exports increased from 3 percent in 1960 to 7 percent in 1987. These countries now play a larger part in the world economy than... countries... Sweden and Australia.

2 Capitalism is an economic system in which capital belongs to (принадлежит) private persons who are free to carry on business... they wish without any government intervention.

3 Alfred Marshall (1842-1924) is known... an economist who played an important role in the construction of theories of consumer demand and contributed to many other areas of economics … …. His Princi­ples of Economics written in 1890 was a leading economics book for many years.

Exercise 9: Translate the sentences into Russian:

1 In East-European countries consumers couldn't get goods, and facto­ries couldn't buy inputs at prices held low by governments.

2 Governments intervene in economies controlling the supply of money, limiting monopolies and helping private industries.

3 An improvement in technology will increase the supply of a good, in­ creasing the quantity supplied at each possible price.

4 Governments regulate economic activities imposing some restrictions.

5 The governments can influence for whom goods are produced, taking income away from some people and giving it to others.

6 The high price for a good is the market mechanism telling suppliers it is now time to increase production.

7 The developing countries hope that the industrial countries will raise imports from the less developed countries imposing tariffs on imports from other industrial countries.

8 Income is money of all kinds coming in regularly to a person, family or organization.

9 Active money is money going from man to man and used by the peo­ple in buying and selling goods and services.

10 Reducing our imports, we decrease the exports of others.

11 At prices above equilibrium we have a situation known as excess sup­ply, or surplus.

Exercise 10: Translate the following sentences into Russian paying attention to the words some and the same:

1. At some price, which we call the "equilibrium price", the demanded quantity of a good equals the supplied quantity.

2. All markets have the same economic function: they form prices equaling the quantities of goods that people wish to buy or to sell.

3. There has been some rise of income in the past two decades (десятилетия) in developing countries.

4. A less developed country is the same as a country of the Third World.

5. An association is an organization formed by the people having the same interests and held together by a system of management.

6. For the next twenty years the supply of energy will be limited in some sectors of the US economy.

7. A consumer group is a small group of people living in the same place who study the prices and the quality of consumer goods sold in shops, and make the information known to the public.

8. An improvement in technology is something hat makes it possible for firms to produce more goods with the same quantity of inputs as before.

Exercise 11: Translate the following sentences into Russian paying attention to the word as and its combinations:

1 If the rise in prices is very large and quick, the situation is known as hyperinflation.

2 As to price ceilings, without government regulation and organization they may lead to "black market" as well as other social and economic problems.

3 Complement goods are those goods which you cannot use one without the other, such as cars and petrol. As the price for petrol rises, the de­mand for cars reduces.

4 Only when demand equals supply, people can buy or sell as much as, they want.

5 Harvest failures (неурожаи) are the most important reason for changes in agricultural product supply, but there are other reasons as well.

6 Attempts to organize supply restrictions in coffee and cocoa have not been so effective as OPEC regulation of quantities of oil sold to other countries.

7 As the supply increases with an improvement in technology, firms want to produce more at the same price level as before.

8 Every firm wants to sell as many goods as possible.

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