Advantages of Market Economies

Such a system is, at first view, very attractive. The economy adjusts automatically to meet changing demands. No planners have to be employed, which allows more resources to be available for production. Firms tend to be highly competitive in such an environment. New advanced products and low prices are good ways to increase sales and profits. Since all firms are privately owned they try to make the largest profits possible.

In a free market individual people are free to pursue their own interests. They can become millionaires, for example. Suppose you invent a new kind of car. You want to make money out of it in your own interests. But when you have that car produced, you are in fact moving the production possibility frontier outwards. You actually make the society better-off by creating new jobs and opportunities, even though you become a millionaire in the process, and you do it without any government help or intervention.

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. Mike found himself a (safe) job somewhere out of town.

2. The deposits of oil in Russia are by far the (rich) in the world.

3. Kate was the (practical) worker of the firm.

4. The (tall) trees in the world grow in California.

5. My colleague speaks English (bad) than I do.

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

Task V. Fill in the correct article.

1. …rich can’t understand …poor.

2. Keynes returned to … Cambridge in … 1908 as … lecturer.

3. Brown became …Prime Minister in … June 2007, after … Blair's resignation.

4. Bill was … rich man. He was … richest man in his … village.

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

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

1. Did … ask you questions at the meeting?

2. … has signed the contract instead of me.

3. Do you know … who can make an agreement with our firm?

4. The secretary made ten phone calls, but … answered her.

5. … know our boss to be an outstanding and creative manager.

Task VII. Translate into English.

1. Лучший способ увеличить доходы от продаж – производить новые и относительно недорогие товары.

2. Рыночная экономика способна адаптироваться самостоятельно, чтобы соответствовать меняющемуся спросу.

3. При свободном рынке любой человек способен действовать свободно.

4. При рыночной системе индивид способен стать миллионером без помощи и вмешательства государства.

5. В плановой системе государство руководит производством и потреблением ресурсов.