ЗабАИ, английский язык (контрольная работа, 2 курс, направление Экономика)
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03.10.2017, 20:33

Внимание: задание для упражнения №6 выдается преподавателем индивидуально на практических занятиях.

Вариант 1

Read and translate the Text.

MARKETING

As defined by the committee on definitions of the American Marketing Association, marketing is ‘the performance of business activities directed toward and incident to, the flow of goods and services from producer to consumer or user. ’’

Today discovering demand, managing demand, and physically supplying demand constitute the three major divisions of Marketing effort undertaken by many firms. Marketing management approached this status in the 1950’s when the General Electric Company enunciated a policy declaring that “marketing begins with the consumer”. By discovering and filling unmet wants, its marketing program was designed to produce what General Electric could sell because customers had certain unmet wants. Subsequently, having what

you could sell instead of trying to “high pressure” customers into buying what you have required provided the use of marketing research and environment “scanning” of conditions affecting business.

The key concept of market selection and product planning is the Product Life Cycle. It predicts that any product pass through various stages between its life and death (introduction -growth - maturity - decline). So companies can make better marketing decisions if they find out where each of their products stands in its life cycle.

EXERCISES

1. Give English equivalents to the following:

определять, выяснять, влиять на, падение, вместо того, чтобы, пройти через, подходить (приближаться), предпринимать, принимать решение, предсказывать

2. Complete the sentences and translate them into Russian:

1. The key concept of market selection is ……..

2. Companies can make better marketing decisions ……

3. Three major divisions of marketing effort ……….

4. It is considered that marketing begins.

5. Marketing is the performance.

3. Write and translate the sentences. State the forms and functions of the infinitives.

1. Our plan was to introduce new methods of research.

2. It is very strange to say the least of it.

3. To make a choice between these two methods was quite difficult.

4. Write and translate the sentences, define the type of the infinitive constructions.

1. We consider silver to be the best of conducting materials.

2. I heard him mention my name.

3. The student's answer seemed to satisfy the examiner. 

4. The history of economics is believed to have started with Adam Smith who was a professor of Logics.

5. Define the functions of the gerund in the following sentences. Translate.

1. Learning English is not an easy thing.

2. They couldn’t help using this information.

3. We succeeded in building a flexible system.

4. We are at the beginning of a new way of working, shopping, playing and communicating.

5. Lately some students have stopped writing and have begun pointing and clicking.

6. In fact, communicating with people is an obvious way to use the Web, and students are already doing it all the time from making dates to buying stocks and auctioning cars.

6. Read the letter and write your answer.

The text will be done individually on the practical lesson.

 

Вариант 2

Read and translate the Text.

MARKET ECONOMY

Throughout history, every society has faced the fundamental economic problem of deciding what to produce, and for whom, in a world of limited resources. In the 20th century, two competing economic systems, broadly speaking, have provided very different answers: command economies directed by a centralized government, and market economies based on private enterprise.

Today, in the last decade of the 20th century, it is clear that, for people throughout the world, the central, command economy model has failed to sustain economic growth, to achieve a measure of prosperity, or even to provide economic security for its citizens.

Yet for many, the fundamental principles and mechanisms of the alternative, a market economy, remain unfamiliar or misunderstood - despite its demonstrable successes in diverse societies from Western Europe to North America and Asia. In part, this is because the market economy is not an ideology, but a set of time-tested practices and institutions about how individuals and societies can live and prosper economically. Market economies are, by their very nature, decentralized, flexible, practical and changeable. The central fact about market economies is that there is no center. Indeed, one of the founding metaphors for the private marketplace is that of the ‘invisible hand’.

Market economies may be practical, but they also rest upon the fundamental principle of individual freedom: freedom as a consumer to choose among competing products and services; freedom as a producer to start or expand a business and share its risks and rewards; freedom as a worker to choose a job or career, join a labor union or change employers.

It is this assertion of freedom, of risk and opportunity, which joins together modern market economies and political democracy. Market economies are not without their inequities and abuses - many of them serious - but it is also undeniable that modern private enterprise and entrepreneurial spirit, coupled with political democracy, offers the best prospect for preserving freedom and providing the widest avenues for economic growth and prosperity for all.

EXERCISES

1. Give English equivalents to the following:

столкнуться с проблемой, ограниченные ресурсы, конкурирующие системы, основанный на, потерпеть неудачу, неправильно понять, устойчивый экономический рост, несмотря на, процветать, изменяющийся, невидимый, выбирать среди, делить риск и вознаграждение, присоединиться к к-л. Союзу или обществу, частное предприятие, предпринимательский дух.

2. Complete the sentences and translate them into Russian:

1. Market economies are based on ……..

2. Command economies are directed…………

3. Every society faces the main economic problem …….

4. Market economy is not an ideology, but…..

5. Market economy is based on the fundamental principle of freedom as a …..

6. It is undeniable that ……

3. Write and translate the sentences. State the forms and functions of the infinitives.

1. Here is an example to be followed.

2. His behaviour leaves much to be desired.

3. To cut a long story short, he didn’t pass his exam on mathematics.

4. Write and translate the sentences, define the type of the infinitive constructions.

1. The University of Cambridge is said to have originated in the 12th centry.

2. Many times we heard our lecturer refer to the data obtained by economists.

3. This student seems to know English well.

4. These students are believed to have been conducting this research since last year.

5. Define the functions of the gerund in the following sentences. Translate.

1. Any noise prevents me from working.

2. He doesn’t like being praised, he is too modest.

3. We didn’t mind her helping us.

4. Reading aloud can help you to improve your pronunciation.

5. In speaking about Moscow one has no choice but to quote long figures.

6. Muscovites have a special manner of walking, working, resting, communicating with each other.

6. Read the letter and write your answer.

The text will be done individually on the practical lesson.

 

Вариант 3

Read and translate the Text.

INVESTORS

Investors may be organizations or individuals. Organizations as institutional investors buy securities with their funds or funds held in trust for others.

Major institutional investors are insurance companies, pension funds and universities. Insurance companies make their investments generate profits and funds for paying future insurance claims. A pension fund wants to make money on its investments so that it can payoff pensioners.

The other types of investors are individuals who trade securities for their own accounts. The majority of personal investors have rather small stock portfolios usually valued at less than $ 50,000. They often use these funds for major purchases such as a home, retirement income, or as a source of cash in case of emergency.

The objectives of investors can be identified in terms of speculation, growth, and income. Some investors set an objective of achieving big payoffs. They engage in speculation, or assuming large risks in the hope of large returns. One of the ways to speculate is to buy “penny stock”. It is highly speculative stock that sells at less than $ 5. A $ 1 stock that is in high demand may rapidly run up to $ 3 thus tripling the initial investment. “Penny stock” is typically a share in new ventures.

More investors are interested in long term growth in the value of their investment. They trend to prefer the so called blue chip stocks of large, high quality companies such as IBM, General Motors, American Express. The dividends for blue chip stocks is rather low because these firms reinvest much of their profits in research in order to remain competitive.

Some investors seek income. They are interested in a stock’s yield which is the percentage return from stock dividends. The highest regular yields are provided by utility stocks because they have minimal risk. The investors take risk only within certain limits. Common stock is less safe than preferred stock because preferred stockholders receive dividends before they are paid to the common stockholders. In the case of common stock, utilities are safer than high tech stock. The safest type of securities are government bonds because they are backed by the government.

EXERCISES

1. Give Russian equivalents to the following:

buy securities with their funds, insurance companies, insurance claims, generate profits, stock portfolios,, retirement income, as a source of cash, in case of emergency, the objectives of investors, in the hope of large returns, may rapidly run up to, ventures, blue chip stocks, a stock’s yield, to remain competitive, regular yields, utility stocks.

2. Complete the sentences and translate them into Russian:

1. More investors are interested in ………

2. The objectives of investors….

3. Major institutional investors are ….

4. The dividends for blue chip stocks ….

5. The investors take risk ………..

6. The safest type of securities are ………………

3. Write and translate the sentences. State the forms and functions of the infinitives.

1. All you have to do is to write a letter.

2. To begin with, everybody makes mistakes.

3. To read English books is necessary.

4. Write and translate the sentences, define the type of the infinitive constructions.

1. The manager knew the work to be under way.

2. It is for you to choose which of the two methods to use.

3. He is sure to come in time, he will be the first to make a report.

4. This research is supposed to have been conducted by our best students.

5. Define the functions of the gerund in the following sentences. Translate.

1. His friend began learning French.

2. Russian scientists played an important part in solving the problem of economics.

3. Studying nature without making observation is useless.

4. You can’t become a good specialist without being trained for a long time.

5. We heard of the experiment having been started last week.

6. In fact, communicating with people is an obvious way to use the Web, and students are already doing it all the time from making dates to buying stocks and auctioning cars.

6. Read the letter and write your answer.

The text will be done individually on the practical lesson.

 

Вариант 4

Read and translate the Text.

INSURANCE

Insurance is a device to handle risk. Its primary function is to substitute certainty for uncertainty as regards the economic cost of disastrous events. Insurance may be defined more formally as a system under which the insurer, for a consideration, promises to reimburse the insured, or to render services to the insured in the event that certain accidental occurrences result in losses during a given time period.

The nature and elements of insurance.

Insurance relies heavily upon the “law of large numbers”. In large homogeneous population it is possible to estimate the normal frequency of common events such as deaths and accidents. Losses can be predicted with reasonable accuracy, and this accuracy increases as the size of the group expands.

From the standpoint of the insurer, an insurable risk must meet the following requirements. The objects insured must be numerous enough and homogeneous enough to allow a reasonably close calculation of the probable frequency and severity of losses. The insured object must not be subject to simultaneous destruction. For example, if all the building insured by one insurer are in an area subject to flood and a flood occurs, the loss to the insurance underwriter may be catastrophic.

The possible loss must be accidental in nature, and beyond the control of the insured. If the insured could cause the loss, the element of randomness and predictability would be destroyed. There must be some way to determine whether a loss has occurred, and how great a one. This is why insurance contracts specify very definitely what events must take place, what constitutes loss, and how it is to be measured.

From the viewpoint of the insured person, an insurable risk is one for which the probability of loss is not so high as to require excessive premiums. What is “excessive” will depend on individual circumstances, including the person’s attitude toward risk. At the same time, the potential loss must be severe enough to cause financial hardship if a person does not insure against it. Insurable risks include losses to property resulting from fire, explosion, windstorm, etc.: losses of life or health: and the legal liability arising out of use of automobiles, occupancy of buildings, employment, or manufacture.

Uninsurable risks include losses resulting from price changes and competitive conditions in the market. Political risks such as war, punitive taxation, or currency debasement  are usually not insurable by private parties but contracts can be drawn in such a way that an “uninsurable risk” can be turned into an “insurable” one through restrictions on losses, redefinitions of perils, or other methods.

EXERCISES

1. Give English equivalents to the following:

обращаться (обходиться), первичная функция, оказать услуги, заменить, являться результатом, однородный, оценить, частотность, потери можно предсказать, с достаточной точностью, отвечать требованиям, многочисленный, верный расчет, одновременный, разрушение, подлежащий или подчиняющийся чему-л, вне контроля, элемент случайности, происходить, с точки зрения, вероятность потерь, зависеть от обстоятельств, отношение к, финансовые трудности, потерять собственность в результате чего-л, составлять контракт таким образом,чтобы

2. Complete the sentences and translate them into Russian:

1. We are suffering …  by reason of the fact that we are unable to cope with this problem.

2. Lately we have had …  from our clients.

3. The ward of the Arbitration Commission is not …  .

4. Insurance in the strict sense covers loss from … events.

5. From the ….  of the client, the goods must meet the following  …  .

6. This kind of risks includes losses …  price changes.

7. This research …  a new principle.

3. Write and translate the sentences. State the forms and functions of the infinitives.

1. I left my village to enter the university.

2. This new actress is pleasant to look at.

3. To read this English book you will have to use a dictionary.

4. Write and translate the sentences, define the type of the infinitive constructions.

1. I’d like you to read about the latest discoveries made in the field of economics.

2. The weather is likely to change by tomorrow.

3. He is certain to make a good report at the conference, for he read a lot of technical journals while preparing for it.

4. That student is supposed to have conducted research last year.

5. Open the brackets using the proper form of the gerund. Translate.

1. I decided to do everything myself instead of (to ask) for help.

2. She succeeded in (to speak) English fluently.

3. It’s no use (to cry) over spilt milk.

4. Science requires (to experiment).

5. (To define) a problem precisely requires patience.

6. We know of the work (to carry out) in this laboratory.

6. Read the letter and write your answer.

The text will be done individually on the practical lesson.

 

Вариант 5

Read and translate the Text.

ACCOUNTING

Accounting shows a financial picture of the firm. An accounting department records and measures the activity of a business. It reports on the effects of the transactions on the firm’s financial condition. Accounting records give a very important data. It is used by management, stockholders, creditors, independent analysts, banks and government.

Most businesses prepare regularly the two types of records. That is the income statement and balance sheet. These statements show how money was received and spent by the company. One major tool for the analysis of accounting records is ratio analysis. A ratio analysis is the relationship of two figures. In finance we operate with three main categories of ratios. One ratio deals with profitability, for example, the Return on Investment Ratio. It is used as a measure of a firm’s operating efficiency.

The second set of ratios deals with assets and liabilities. It helps a company to evaluate its current financial position. The third set of ratios deals with the overall financial structure of the company. It analyses the value of the ownership of the firm.

EXERCISES

1. Give Russian equivalents to the following:

a financial picture of the firm, an accounting department, a transaction, important data, stockholders, income statement, balance sheet, a major tool, ratio analysis, to deal with, profitability, assets and liabilities, current financial position.

2. Agree or disagree with the statements:

1. At the end of the fiscal year a business must check out the assets and liabilities.

2. It There is no difference between gross salary and net salary.

3. An employer should hire an experienced accountant for preparing a financial statement.

4. The accounting department provided data for the management.

5. The board o directors never checks out assets and liabilities an net worth.

6. Governmental corporations can not issue stock certificates.

3. Write and translate the sentences. State the forms and functions of the infinitives.

1. There are lots of contradictions to be found in your report.

2. The problems to be discussed are of vital importance for our work.

3. To develop national economy is the main task of the government.

4. Write and translate the sentences, define the type of the infinitive constructions.

1. I didn’t see the professor enter the room.

2. I heard him mention my name.

3. These students are likely to take part in this discussion as the main problem to be discussed is on their speciality.

4. One of the students is said to be conducting a research work now.

5. Open the brackets using the proper form of the gerund. Translate.

1. They insisted on the sample (to test) repeatedly.

2. He has developed a method for (to evaluate) this problem.

3. She turned pale on (to tell) the news.

4. Do you mind him (to examine) by a heart specialist?

5. I was angry at (to interrupt) every other moment.

6. The device needs (to repair).

6. Read the letter and write your answer.

The text will be done individually on the practical lesson.

 

Вариант 6

Read and translate the Text.

CORPORATE FINANCE

Corporations need financing for the purchase of assets and the payment of expenses. The corporations can issue shares in exchange for money or property. Sometimes it is called as equity funding. The holders of the shares form the ownership of the company. Each share is represented by a stock certificate, which is negotiable. It means that one can buy and sell it. The value of a share is determined by the net assets divided by the total number of shares outstanding.

The greater the success, the more value the shares have. A corporation can also get capital by borrowing. It is called debt funding. If a corporation borrows money, they give notes or bonds. They are also negotiable. But the interest has to be paid out whether business is profitable or not. When running the corporation, management must consider both the outflow and inflow of capital. The outflow is formed by the purchase of inventory and supplies, payment of salaries. The inflow is formed by the sale of goods and services. In the long run the inflow must be greater than the outflow. It results in a profit. In addition, a company must deduct its costs, expenses, losses on bad debts, interest on borrowed capital and other items. The amount of risk involved is also an important factor. It determines the fund raising and it shows if a particular corporation is a good investment.

EXERCISES

1. Give Russian equivalents to the following:

to get capital by borrowing, to issue shares, in exchange for property, holders of the shares, a stock certificate, the value of the share, net assets, debt funding, profitable, outflow and inflow of capital, to result in, to deduct the cost, interest on borrowed capital, to determine the fund raising.

2. Put the necessary word  in the sentence.

1….. funding is a financing formed by borrowing.

2. They have borrowed much money and they have to pay a big ….

3. Financing by shares is called……. funding.

4. That is a very profitable deal, for that purpose we need extra…

5. You can sell your shares and…… They are …….

6. The current assets of a company usually include cash and ………

7. As a result of this deal we’’ll have greater …. than outflow.

3. Write and translate the sentences. State the forms and functions of the infinitives.

1. To put it mildly, this work must be done.

2. The decision to be made is hardly an easy one.

3. To develop national economy the people have to use the natural resources of the country most efficiently.

4. Write and translate the sentences, define the type of the infinitive constructions.

1. The new method permitted these phenomena to be investigated thoroughly.

2. Many times we heard our lecturer refer to the data obtained by economists.

3. The weather is likely to change by tomorrow.

4. These students are considered to conduct research rather well.

5. Write and translate the sentences with the gerundial construction.

1. The thunder is caused by heating the air by a spark.

2. A lightning conductor is a means of protecting buildings from the strokes of lightning.

3. We know of this house being destroyed by a stroke of lightning.

4. The professor knew about the students’ going to the power station.

5. Seeing is believing.

6. She cannot read English without consulting a dictionary.

6. Read the letter and write your answer.

The text will be done individually on the practical lesson.

 

Вариант 7

Read and translate the Text.

WHAT IS INTERNATIONAL TRADE?

When Honduras exports bananas to Switzerland, they can use the money they earn to import Swiss chocolate - or to pay for Kuwaiti oil or a vacation in Hawaii. The basic idea of international trade and investment is simple: each country produces goods or services that can be either consumed at home or exported to other countries.

The main difference between domestic trade and international trade is the use of foreign currencies to pay for the goods and services crossing international borders. Although global trade is often added up in U. S. dollars, the trading itself involves various currencies. Japanese videocassette recorder is paid for in German marks in Berlin, and German cars are paid for in U. S. dollars in Boston. Indian tea, Brazilian coffee, and American films are sold around the world in currencies as diverse as Turkish liras and Mexican pesos.

Whenever a country imports or exports goods and services, there is a resulting flow of funds: money returns to the exporting nation, and money flows out of the importing nation. Trade and investment is a two-way street, and with a minimum of trade barriers, international trade and investment usually makes everyone better off.

In a interlinked global economy, consumers are given the opportunity to buy the best products at the best prices. By opening up markets, a government allows its citizens to produce and export those things they are best at and to import the rest, choosing from whatever the world has to offer. Some trade barriers will always exist as long as any two countries have different sets of laws. However, when a country decides to protect its economy by erecting artificial trade barriers, the result is often damaging to everyone, including those people whose barriers were meant to protect.

EXERCISES

1. Give English equivalents to the following:

швейцарский шоколад, заплатить за, либо…. либо, внутренняя торговля, иностранная валюта, продавать, возвращаться, потребитель, покупать по самым лучшим ценам, предлагать, ставить искусственные барьеры, означать.

2. Say whether each of the following sentences is true or false. Correct the false sentences to make them true.

1. Generally money flows out of the exporting nation and returns to the importing nation.

2. In a interlinked global economy, consumers are given the opportunity to buy the best products at the best price.

3. International trade involves various currencies.

4. Some trade barriers exist if two countries have similar sets of laws.

5. Each country produces goods and services that can be exported or consumed.

6. When a country decides to protect its economy by breaking some trade barriers, the result is damaged to everyone.

3. Write and translate the sentences. State the forms and functions of the infinitives.

1. This method is of great scientific value, to say nothing of its possible economic effect.

2. There are some measures to be urgently taken.

3. To expand old universities is much cheaper than to build new ones.

4. Write and translate the sentences, define the type of the infinitive constructions. 

1. The professor wanted the post-graduate to find the articles on the latest discoveries in economics.

2. The workers are certain to achieve good results if they employ new techniques.

3. It is for you to choose which of the two methods to use.

4. These students proved to be very capable researchers.

5. Write and translate the sentences with the gerundial construction.

1. His having asked such a question shows that he did not prepare the text.

2. I remember my having told her about the experiment.

3. Lomonosov’s having studied atmospheric electricity contributed to the development of science.

4. There are many methods of learning a foreign language.

5. On coming home he began watching TV.

6. A lot depends on your making the right choice.

6. Read the letter and write your answer.

The text will be done individually on the practical lesson.

 

Вариант 8

Read and translate the Text.

INTERNATIONAL BUSINESS

The international corporation or global company has its origin. Usually it is the outgrowth of the great trading companies of the 17th and 18th centuries. In 1811 a New York statute said corporations could be created by the filling of

documents. After that it became a matter of bureaucratic operations to become a corporation. By 1850 it was a very common thing in the United States and was under general statute in European countries as well. Since that time the corporate movement began. As the jet plane, satellite communications and computers began, it became possible for a company to control business in all the world.

The growth of international corporate operations is faster than the economic growth of the industrialized nations. There are some projects which predict that within a generation almost a half of the free worlds production will be internationalized. This trend for internationalism presupposes some benefits such as new jobs, higher living standards and the closing of the gaps between people - economic, education and technological. At the same time serious questions can be asked. Is it the most efficient way to use world researches? Can the international corporation be the best force for a better world? Is it politically stronger than government? Can it take care of the self interest and competitiveness on behalf of the greatest good? And in what way can the global company work toward easing the world’s crises - monetary, political, energy and food?

EXERCISES

1. Give Russian equivalents to the following:

a global company, a matter of bureaucratic operations, as well as, jet plain, sattelite communications, to presuppose, benefits, living standards, closing of the gaps, at the same time, the most efficient way, competitiveness.

2. Make sentences by adding a suitable beginning to the following:

1. ……by the filling of documents.

2. ……it became possible for for a company to control business in all the world.

3. ……. was a very common thing in most countries.

4. ……. such as new jobs, higher living standards.

5. ……. to use world researches.

6. ……. can be the best force for a better world.

3. Write and translate the sentences. State the forms and functions of the infinitives.

1. To tell the truth, we expected quite different results.

2. Here are some new expressions to be learnt.

3. To expand old universities is a versatile problem.

4. Write and translate the sentences, define the type of the infinitive constructions.

1. We know Adam Smith to have stated the laws of economics.

2. It is necessary to utilize the immense supply of free solar energy to make our star, the Sun, serve mankind.

3. Nearly a month is required for the Moon to circle the Earth.

4. They didn't appear to be satisfied with our work.

5. Write and translate the sentences. Mind the construction with the gerund.

1. Their having overheated the gas changed the results of the experiment.

2. The investigator mentioned his testing this material for strength.

3. We heard of our manager having left for the international symposium.

4. We insisted on the experiment being repeated.

5. In spite of the gases being compressed they return to their original volume as soon as the applied force stops acting.

6. Newton’s having stated the laws of motion is very important for modern science.

6. Read the letter and write your answer.

The text will be done individually on the practical lesson.

 

Вариант 9

Read and translate the Text.

BANKS AND BANKING

Banks are closely concerned with the flow of money into and out of the economy. They often co-operate with governments in efforts to stabilize economies and to prevent inflation. They are specialists in the business of providing capital, and in allocating funds on credit. Banks originated as places to which people took their valuables for safe-keeping, but today the great banks of the world have many functions in addition to acting as guardians of valuable private possessions.

Banks normally receive money from their customers in two distinct forms: on current account, and on deposit account. With a current account, a customer can issue personal checks. No interest is paid by the bank on this type of account. With a deposit account, however, the customer undertakes to leave his money in the bank for a minimum specified period of time. Interest is paid on this money.

The bank in turn lends the deposited money to customers who need capital. This activity earns interest for the bank, and this interest is almost always at a higher rate than any interest which the bank pays to its depositors. In this way the bank makes its main profits.

The primary function of a bank today is to act as an intermediary between depositors who wish to make interest on their savings, and borrowers who wish to obtain capital. The bank is a reservoir of loanable money, with streams of money flowing in and out. For this reason, economists and financiers often talk of money being liquid, or of the liquidity of money. Many small sums which might otherwise be used as capital are rendered useful simply because the bank acts as a reservoir.

The system of banks rests upon a basis of trust. Innumerable acts of trust built up the system of which bankers, depositors and borrowers are part. They all agree to behave in certain predictable ways in relation to each other, and in relation to the rapid fluctuations of credit and debit. Consequently, business can be done and checks can be written without any legal tender visibly changing hands.

EXERCISES

1. Give English equivalents to the following:

тесно связано, усилия по стабилизации, предотвратить инфляцию, распределение фондов, безопасное хранение, процент не выплачивается, зарабатывать, более высокая процентная ставка, вкладчики, ликвидность денег, основная прибыль, хранилище, опираться на, колебания.

2. Complete these sentences with appropriate words оr word combinations and translate the sentences into Russian:

1. Banks cooperate with……in efforts to stabilize economies.

2. Banks originated as places to which people took their ….. for safekeeping.

3. No interest is paid by the bank on …..

4. Banks lend the deposited money to…  who need capital.

5. The bank is … of loanable money.

6. The system of bankes … a basis of trust.

7. Bankers, depositors and borrowers agree to behave ….. in relation to each other.

8. The primary function of a bank is to act as .... . Between depositors and borrowers.

3. Write and translate the sentences. State the forms and functions of the infinitives.

1. Our new boss is hard to please.

2. This is the issue to be debated in the Parliament.

3. To take correct measurements is not an easy task.

4. Write and translate the sentences, define the type of the infinitive constructions.

1. I have never heard anyone give so much interesting information in one report.

2. The manager wants them to use new methods in their work. 

3. The weather is likely to change by tomorrow.

4. I happened to meet some of our students in the museum.

5. Write and translate the sentences. Mind the construction with the gerund.

1. We knew of Smith’s having developed the principles of market.

2. We knew nothing of their having been met at the station.

3. Smith’s having worked in the field of economics is known all over the world.

4. They didn’t know of his having been given new materials.

5. We know of Faraday’s having stated the law of electromagnetic induction.

6. We heard of the new computer having been put into operation.

6. Read the letter and write your answer.

The text will be done individually on the practical lesson.

 

Вариант 10

Read and translate the Text.

FUNCTIONS OF MONEY

All values in the economic system are measured in terms of money. Our goods and services are sold for money, and that money is in turn exchanged for other goods and services. Coins are adequate for small transactions, while paper notes are used for general business. There is additionally a wider sense of the word money, covering anything which is used as a means of exchange, whatever form it may take. Originally, a valuable metal (gold, silver or copper) served as a constant store of value, and today the American dollar is technically “backed” by the store of gold which the US government maintains. Because gold has been universally regarded as a very valuable metal, national currencies were for many years judged in terms of the so-called gold standard.

Valuable metals have generally been replaced by paper notes. These notes are used by governments and authorized banks, and are known as legal tender. Other arrangements such as checks and money orders are not legal tender. They perform the function of substitute money and are known as instruments

of credit. Credit is offered only when creditors believe that they get a good chance of obtaining legal tender when they present such instruments at a bank or other authorized institution. If a man’s assets are known to be considerable, then the credit will be good. If his assets are in doubt, it may be difficult for him to obtain large sums of credit or even to pay for goods with a check.

The value of money is basically its value as a medium of exchange, or, as economists put it, its purchasing power. This purchasing power is dependent on supply and demand. The demand for money is the quantity needed to effect business transactions. An increase in business requires an increase in the amount of money coming into general circulation. But the demand for money is related not only to the quantity of business but also to the rapidity with which the business is done. The supply of money, on the other hand, is the actual amount in notes and coins available for business purposes. If too much money is available, its value decreases, and it does not buy as much as it did, say, five years earlier. This condition is known as inflation.

EXERCISES

1. Give English equivalents to the following:

обменивать на, более широкий смысл, средство обмена, первоначально, национальная валюта, заменить чем-либо, выполнять функцию, вызывать сомнение, заплатить за товар чеком, зависеть от, спрос и предложение, общий оборот, связан с, с другой стороны, условия.

2. Make sentences by adding a suitable beginning to the following:

1……replaced by paper notes.

2……. is dependent on supply and demand.

3……. are known as instrument of credit.

4……as a constant store of value.

5……are used for general business.

6……are sold for money.

7. …  requires an increase in the amount of money coming into general circulation.

3. Write and translate the sentences. State the forms and functions of the infinitives.

1. Our neighbours are difficult to deal with.

2. The scientist spoke about the new method to be introduced.

3. To take correct measurements it is necessary to use accurate instruments.

4. Write and translate the sentences, define the type of the infinitive constructions.

1. We consider silver to be the best of conducting materials.

2. We saw the skilled worker assemble the tiny devices very quickly.

3. For the experiment to be successful he had to do much work.

4. His knowledge of English appears to be improving.

5. Explain the difference between the sentences in each pair. Write and translate them.

1. He insisted on going there. He insisted on our going there.

2. I don’t mind cleaning the dishes. I don’t mind her cleaning the dishes.

3. She is not interested in collecting stamps. She is not interested in his collecting stamps.

4. We are fond of singing. We are fond of their singing.

6. Read the letter and write your answer.

The text will be done individually on the practical lesson.



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