Файл: IN_AZ_INGLISH_UMP.pdf

society produces. The central economic problem is to reconcile the
conflict between people's unlimited demands with society's ability to
produce goods and services.

In industrial Western countries markets are to allocate resources.

The market is the process by which production and consumption are
coordinated through prices.

In a command economy, a central planning office makes deci-

sions on what, how, and for whom to produce. Economy cannot rely
entirely on command, but there was extensive planning in many So-
viet bloc countries.

A free market economy has no government intervention. Re-

sources are allocated entirely through markets.

Modern economies in the West are mixed and rely mainly on the

market but with a large dose of government intervention. The optima!
level of government intervention remains a problem which is of inter-
est to economists.

The degree of government restrictions differs greatly between

countries that have command economies and countries that have free
market economies. In the former, resources are allocated by central
government planning. In the latter, there is not any government regu-
lation of the consumption, production, and exchange of goods. Be-
tween the two main types lies the mixed economy where market and
government are both of importance.

II. Answer the questions in the written form.

What is the central economic problem of a society?

What is the market?

What is the function of the market in an industrial country?

How are decisions made in a command economy?

In what way does a free market economy differ from a command
economy?

To which type do most economies in the West belong?

III. Think and write the answers (write not less than 6-8 sen-

tences).

To which type does the economy of present-day Russia belong?

Is the level of government regulation growing or failing in Rus-
sia's economy now?

Vocabulary

economics

[

i:k

'n m

ks]

экономическая

наука

;

экономика

economic

[

i:k

'n m

adj

экономический

; 2.

экономически

выгодный

;

рентабельный

economical

[

i:k

'n m

k l]

adj

экономный

бережливый

; 2.

эко

номичный

economist [ 'k n

st] n

экономист

economize

[ 'k n

maiz] v

экономить

;

экономно

расходовать

или

использовать

economy

[ 'k n

]

хозяйство

экономика

command

[k 'm nd]

economy

—

централизованно

управляемая

экономика

;

нерыночная

экономика

free market

['m tk t

) economy

свободная

рыночная

экономика

mixed

[m kst]

economy

—

смешанная

экономика

society

'sai

t ]

общество

общественный

строй

;

общест

во

организация

ассоциация

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Файл: IN_AZ_INGLISH_UMP.pdf

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