Методические указания по изучению английского языка на 3 курсе заочного факультета. Якушева И.В - 41 стр.

cient managing body. Instead they elect a board of directors to represent them.
The directors in turn, select the top officers who actually run the company. Theo-
retically, the shareholders, as owners are the governing body of the corporation
but in practice the more shareholders there are the less real influence, each one
has on the corporation.


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                      The Economy of Great Britain
    Britain was a pioneer in the industrial revolution and has retained a manufac-
turing base of fundamental importance to the economy (accounting for some 25
per cent of gross domestic product, GDP) in spite of a rapid growth in the ser-
vices sector (nearly two-thirds of GDP). Petroleum and natural gas now account
for 4 per cent of GDP and agriculture for 2 per cent (supplying more than half
country's food. Britain has become self-sufficient in oil with the development of
resources in the continental shelf under the North Sea. Although this has brought
great economic benefits it has contributed to problems of economic adjustment:
the external value of sterling is partially influenced by the position in the interna-
tional oil market and this may cause strains in Britain's international trade.
    The economy is based largely on private enterprise but has some major pub-
licly owned industries (notably coal, steel, gas, electricity and railways) and a few
joint enterprises. The Government is reducing the size of the public sector, return-
ing parts of the steel, transport, telecommunication and aerospace industries, for
example, to private enterprise.
    Britain exports over 30 per cent of its GDP. Machinery and transport equip-
ment account for about one-third of export while finished manufactures comprise
over one-third of exports. A recent trend has been the large fall in oil imports and
the emergence of a significant export trade. Germany and the United States are
Britain's leading trading partners. Britain's fellow members in the European
Community accounted for 43 per cent of its exports and 41 per cent of imports in
1990.
    Earnings from invisible exports, including financial and other services, are
about half as much as those from visible exports. The Government aims to defeat
inflation through firm fiscal and monetary policies, increasing competition, re-
ducing the rise in public expenditure and restoring incentives to industry, particu-
larly small businesses.




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