Английский для экономистов и менеджеров. Ульянова О.В - 31 стр.

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PART 2
THE MARKET
Unit 1
Laws of market economy
1 Read the definitions and translate the words into Russian.
Laissez-faire – the policy of allowing companies and the economy to oper-
ate without government control;
self-interest – interest in yourself and how to gain advantages for yourself;
oil-refinery – a factory where different substances are removed from oil to make
it pure;
aid – help;
assets – smth such as money or property that a person or company owns;
entrepreneur –smb who uses money to start businesses and makes business
deals;
fiscal policy – government policy in the sphere of budgeting and taxes;
monetary policy – government policy which deals with money supply and in-
terest rates.
2 Read the text and do the tasks after each section.
MARKET ECONOMIES
A A society may attempt to deal with the basic economic problems by allow-
ing free play to what are known as market forces. The state plays little or no
part in economic activity. Most of the people in the non-communist world earn
and spend in societies which are still fundamentally market economies.
The market system of economic organization is also commonly de-
scribed as a free enterprise or laissez-faire, or capitalist system. We
shall use all these terms to stand for a market economy. Strictly speaking the
pure market of laissez-faire system has never existed. Whenever there has been
some form of political organization, the political authority has exercised some
economic functions (e.g. controlling prices or levying taxation). It is useful,
however, to consider the way in which a true market system would operate be-

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