Exercise 8. Replace the words or word combinations in bold type with their synonyms.
Date: 2015-10-07; view: 690.
Exercise 7. Find words in the text synonymous in meaning to the following. Read the sentences containing them.
| to denote | a businessman | ||
| a region | finally | ||
| to put resources to efficient use | physical | ||
| labour force | |||
| to collect/to accumulate | to classify |
1. The capital as a factor of production is also called the means of production. 2. The entrepreneur also carries most if not all risks associated with turning his idea into a profitable business. 3. You need resources to produce goods and services. 4. You must put resources to the most efficient use to maximize production. 5. Some economists classify entrepreneurs as a special source of labour input, but others think they deserve to be a separate factor of production. 6. When human labor turns natural resources into goods that satisfy human desires and have value, those goods are called wealth. 7. A modern industrialized economy possesses a large amount of capital, and it is continually increasing.
Exercise 9.Pair the halves of the sentences and translate them into Ukrainian.
| 1. The factors of production include | a. through investments in education, training, and health. |
| 2. Capital includes machinery, infrastructure like roads and bridges, factories, schools and office buildings | b. that humans design and construct to produce other goods and services. |
| 3. To some economists entrepreneurs are | c. entrepreneurs earn profits. |
| 4. A factory, tools, machinery and trucks are capital goods because | d. there is enough for everyone to have as much as they want. |
| 5. When the other three factors of production, land, labour and capitalcombined successfully, | e.they can be put into production process. |
| 7. An economy uses its existing limitless resources | g. a special form of labour input. |
| 8. The quality of labour resources can be improved | h. but they do not get any payment for their job. |
| 9. Since free goods are so abundant in nature that | i. to combine inputs to produce goods and services. |
| 10. A housewife, a keen gardener and a DIY* enthusiast all produce goods and services, | j. natural resources, human resources capital and entrepreneurship. |
*DIY – DoItYourself–"зроби сам" (про ремонт, виготовлення чогосьвласноруч)
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Exercise 10.What economic terms given in the box do the following definitions refer to?
| labour | rent | interest | factors of production |
| wages | income | land | the means of production |
| profit | entrepreneur | information | entrepreneurship |
| a) A factor of production that includes land itself as well as mineral deposits, timber, water, and other natural resources. | |
| b) The difference between the price received and the amounts paid as rewards to the factors of production. | |
| c) Return to those who supply the factor of production known as “land”. | |
| d) Productive resources needed to produce economic goods. | |
| e) A person who brings together the factors of production and runs a business at his own financial risk. | |
| f) The money earned by a person from work, property, or investment, regularly or over a specified time. | |
| g) Payment to those owners of resources who supply the factor of production known as “labour”. | |
| h) A factor of production that is defined as the function performed by those who bring together the other factors of production. | |
| i) Facts or data, pertaining to a particular subject or regarded as significant. | |
| j) A factor of production that represents those hired workers whose human efforts and activities are directed toward production. | |
| k) The money earned by a person as a reward for allowing somebody to use his money and for waiting for the repayment of the loan. | |
| l) The material, tools, and equipment that are used in the production of goods |
that is produ
Exercise 11.Translate the words in brackets into Ukrainian.
Scarcity means that (жодне суспільство)has enough resources to produce all the goods and services necessary (для того щоб задовольнити усі людські бажання).
Resources (які використовуються підприємствами) as inputs to produce goods and services are called (факторами виробництва).
Economists (розрізняють) fourbasic(фактори виробництва): (земля, праця, капітал та підприємництво).
(Земля) is the physical space on which production takes place, as well as the (природні ресурси) found under it or on it.
(Праця)isthetime(люди) spend(виробляючи товари та послуги). (Праця як економічний термін) is considered (з точки зору кількості) –the number of workers (таякості) –the skills and abilities these workers (мають).
It is common, (в економіці), to understand (працю як фізичні та розумові зусилля) needed to (задовольнити людські потреби).
(Засоби виробництва) are final goods that are produced for use in the production of other goods. Capital includes the physical plants, (машинне обладнання та устаткування) used in (процесі виробництва).
(Підприємництво) is a combination of (виробничих ресурсів) to produce new or improved products. The (підприємці), motivated by (доходами), can (ризикувати)of business activitiesto produce goods combining the above resources.
(Інформація) is the fifth large (фактор виробництва), as (важливий) as (земля, праця та капітал). The wide-scale use of (інформації) and communication technology in industry not only leads to an increase in (продуктивності) but also to the (створення нової продукції) and new markets.
Exercise 12.Translate the sentences into English using the active vocabulary.
| 1. Причина, через яку люди не можуть задовольнити усі свої бажання та потреби, – це нестача виробничих ресурсів. | __________________________________________________________________________ _____________________________________ _____________________________________ |
| 2. Фактори виробництва – це економічні ресурси суспільства, які використовуються в процесі виробництва. | _____________________________________ _____________________________________ __________________________________________________________________________ |
| 3. Економісти розрізняють три фактори виробництва – земля, праця, капітал, які об'єднуються четвертим фактором виробництва, що називається підприємництвом. | __________________________________________________________________________ _____________________________________ _____________________________________ _____________________________________ |
| 4. Економічний термін “праця” означає людські ресурси або, іншими словами, це – люди з усіма їх зусиллями та здібностями. | __________________________________________________________________________ _____________________________________ _____________________________________ |
| 5. Кількість робочої сили залежить від загальної кількості населення країни та кількості людей, здатних працювати. | _____________________________________ _____________________________________ __________________________________________________________________________ |
| 6. Підприємництво – це готовність власників підприємств ризикувати для того, щоб отримати прибуток. | __________________________________________________________________________ _____________________________________ |
| 7. Різниця між фізичним капіталом і фінансовим капіталом полягає в тому, що фізичний капітал – це фактор виробництва, а саме, речі, які створені людиною, щоб виробляти інші товари та послуги, а фінансовий капітал – це гроші, які використовуються, щоб купувати засоби виробництва. | _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _______________________________________________________________________________________________________________ |
| 8. Виробництво має місце і товари виробляються, коли підприємці об'єднують інші три фактори виробництва. | _____________________________________ _____________________________________ _____________________________________ _____________________________________ |
| 9. На думку сучасних економістів інформація – це п'ятий фактор виробництва. | __________________________________________________________________________ _____________________________________ |
| 11. Інформація надає можливість підприємцям приймати кращі ділові рішення й успішно конкурувати на ринку. | _____________________________________ _____________________________________ _____________________________________ _____________________________________ |
| 12. Власники землі, праці та капіталу отримують свої доходи у формі ренти, заробітної плати та відсотку відповідно. | ____________________________________________________________________________________________________________________________________________________ |
Exercise 13.Answerthefollowingquestions.
1. What are economic resources? 2. Why is it important for a society to use economic resources efficiently? 3. What economic resources are called the factors of production? 4. What factors of production do most economists distinguish? 5. Why is entrepreneurshipoften considered as an additional factor of production? 6.What does “land” as a factor of production comprise? 7. Why are most natural resources in limited supply? 8. What is rent? Who receives it?9.Whatdoes “labour” as a factor of productionrepresent? 10. How do almost all individuals provide labour as a factor of production? 11. What is called wages? 12. Why is labour not of the same quality? 13. Why are some categories of population not part of the labour force?14. How do economists define capital as a factor of production? 15. What is interest? 16. Why isentrepreneurship considered (as) the fourth factor of production? 17. What is entrepreneurship? 18. Whom do we call an entrepreneur? 19. What reward do entrepreneurs receive for their risks, innovative ideas and efforts? 20. Why is information considered to be the fifth factor of production? 21. What factors of production are active (flexible) and passive (fixed)?Why?
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| Exercise 6. Choose words and word-combinations having the same or similar meaning to the words listed below. More than one is possible. | | | B. Labour |