Assignments. I. Suggest the Russian equivalents the most important tool for the economist; the production possibility frontier;

I. Suggest the Russian equivalents the most important tool for the economist; the production possibility frontier;

the maximum combinations of output; to involve the transfer of workers

II. Fill in the gaps with the words and expressions from the text

1. The production possibility frontier is the most important __ for an economist.

2. This frontier shows the maximum combinations of __ that the economy can produce, if it uses __.

3. To complete a figure of __ we need to draw __ together.

4. The line drawn is not __, it's __. It is this concave curve that is called __.

5. The production possibility frontier represents __.

6. More of one __, food or film, means __ of the other, and this is because of__.

7. It states that if, in __, one __ is increased __ while the other factors are kept __, the stage will be reached where __ to the increasing factor will produce __.

8. The number of workers in the film industry __, and so does the film __, but on the whole each __ worker produces __ additional film.

9. Each transfer __ in the film industry.

10. That's why a society faces the problem of __ between __, as ___ does not allow it __ the production of one good without __ the production of the other.

III. Draw a figure, complete it, mark all the points (from A to G) and explain it in English making use of the following phrases

a vertical axis (line), a horizontal axis (a bottom line), to label, to enter in the units in 5s, to draw a line

IV. Find English equivalents

прямая линия; вогнутая (выпуклая) кривая; именно эта кривая назы­вается границей производственных возможностей; альтернатива, выбор;

закон сокращающейся доходности; увеличивать (уменьшать) выработку на одного человека; вертикальная ось; обозначить; горизонтальная ось;

провести линию, соединяющую все эти точки; производственный фак­тор, фактор производства; включать в себя, подразумевать перемещение;

дополнительный объем производства

V. Explain in English

a trade-off; the law of diminishing returns

VI. Answer the question

What does the production possibility frontier show?

VII. Translate into English using all the active possible

1. Граница производственных возможностей — это предел в потном использовании ресурсов общества при существующем уровне развития технологии, когда увеличение производства одного блага требует сокра­щения производства другого.

2. Такое состояние экономики может быть отражено на графике в ви­де кривой, представляющей различные комбинации производства благ при максимальном использовании имеющихся ресурсов и существующем уровне технологии.

3. На графике изображена кривая, каждая точка которой показывает количество одного блага, производимого при полном использовании всех ресурсов, взамен другого блага.

4. Точки за пределами границы производственных возможностей по­казывают уровень производства, недостижимый при данном количестве ресурсов и имеющейся технологии.

5. Точки внутри границы показывают, что производство организовано неэффективно и есть неиспользованные ресурсы, например, рабочая сила.

6. Отсюда следует естественный вывод, что в современной экономике, когда неограниченных ресурсов практически нет, развитие технологии играет значительную роль и имеет огромное значение для экономики в целом.

ECONOMIC SYSTEMS (ЭКОНОМИЧЕСКИЕ СИСТЕМЫ)

There are a number of ways in which a government can organize its economy and the type of system chosen is critical in shaping environment in which businesses operate.

An economic system is quite simply the way in which a country uses its available resources (land, workers, natural resources, machinery etc.) to satisfy the demands of its inhabitants for goods and services. The more goods and services that can be produced from these limited resources, the higher the standard of living enjoyed by the country's citizens.

There are three main economic systems:

Planned economics (Плановая экономика)

Planned economies are sometimes called " command economies" because the state commands the use of resources (such as labour and factories) that are used to produce goods and services as it owns factories, land and natural resources. Planned economies are economies with a large amount of central planning and direction, when the government takes all the decisions, the government decides production and consumption. Planning of this kind is obviously very difficult, very complicated to do, and the result is that there is no society, which is completely a command economy. The actual system employed varies from state to state, but command or planned economies have a number of common features.

Firstly, the state decides precisely what the nation is to produce. It usually plans five years ahead. It is the intention of the planners that there should be enough goods and services for all.

Secondly, industries are asked to comply -with these plans and each industry and factory is set a production target to meet. If each factory and farm meets its target, then the state will meet its targets as set out in the five-year plans. You could think of the factory and farm targets to be objectives which, if met, allow the nation's overall aim to be reached.

A planned economy is simple to understand but not simple to operate. It does, however, have a number of advantages: