Market Economies

In a true market economy the government plays no role in the management of the economy, the government does not intervene in it. The system is based on private enterprise with private ownership of the means of production and private supplies of capital, which can be defined as surplus income available for investment in new business activities. Workers are paid wages by employers according to how skilled they are and how many firms wish to employ them. They spend their wages on the products and services they need. Consumers are willing to spend more on products and services, which are favoured. Firms producing these goods will make more profits and this will persuade more firms to produce these particular goods rather than less favoured ones.

Thus, we can see that in a market economy consumers decide what is to be produced. Consumers will be willing to pay high prices for products they particularly desire. Firms, which are privately owned, see the opportunity of increased profits and produce the new fashionable and favoured products.

Task II. Scan the text above and write down all the sentences containing the Passive forms.

Task III. Open the brackets using the Degrees of Comparison.

1. This computer is (far) more advanced than the old model.

2. If you need any (far) information, please contact our head office.

3. This auction is the (good) I have ever seen.

4. Today the wages are (low) than they were a week ago.

5. Chinese is (difficult) than English.

Task IV. Find the synonyms for the words and combinations given below.

Task V. Fill in the correct article.

1. … money which he gave my father was coming to … end.

2. English people are forever complaining about the weather, but in fact… British Isles have a reasonable climate on the whole.

3. We always stay at the Palace Court Hotel because it is … only one with … facilities for … disabled.

4. … Swiss Alps are a good place to go if you like skiing. There is usually plenty of … snow during the winter months.

5. …rich can’t understand …poor.

Task VI. Open the brackets using the Pronouns someone, everyone, anyone, no one. Translate the sentences into Russian.

1. It was raining cats and dogs. … was outside.

2. … told me about his job.

3. There was … to answer the phone in the office.

4. Have you got … in the head office now? I have to send a fax there.

5. The meeting was cancelled because there was … to come.

Task VII. Translate into English.

1. Работникам платят зарплату согласно их навыкам.

2. Государство не вмешивается в управление экономикой страны, если она рыночная.

3. Потребители тратят больше денег на те продукты и услуги, которые им больше нравятся.

4. Доходы частных компаний сильно выросли в последнее время.

5. Частная поддержка капитала необходима для дополнительных инвестиций и развития компаний.