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Раздел 13

1. Ознакомьтесь со словарным минимумом к тексту. Прочитайте и переведите текст “Foreign Trade”. foreign trade международная торговля syn. international trade wholesale trade оптовая торговля syn. wholesaling wholesaler оптовый торговец retail trade розничная торговля syn. retailing retailer розничный торговец participate v (in smth) участвовать (в чём-л.) enable v давать возможность (что-л. сделать) to enable smb to do smth давать кому-л. возможность или право что-л. сделать; позволить кому-л. сделать что-л. syn. let (let, let) v позволять, допускать; выдавать (заказ на что-л.) to let (smb) do smth разрешить, позволить (кому-л.) сделать что-л. syn. allow v позволять, разрешать to allow (smb) to do smth позволять (кому-л.) делать что-л. to be allowed to do smth иметь разрешение делать что-л. expand v расширять, увеличивать в объеме major adj более важный, значительный according to prep согласно, в соответствии с in accordance with в соответствии с чём-л., согласно чему-л. syn. in line with absolute advantage абсолютное преимущество comparative advantageсравнительное преимущество to compare with smth сравнивать с чём-л. to compare to smth уподоблять чему-л. in comparison with smth в сравнении с чём-л. gain v выигрывать; получать; извлекать выгоду gain n прирост; прибыль; выигрыш gains pl доходы; выручка; прибыль, заработок; увеличение, рост competitive adj конкурентный, конкурентоспособный competitive advantage преимущество, основанное на конкуренции competition n соревнование; состязание; конкуренция competitiveness n конкурентная способность compete v соревноваться, конкурировать to compete in smth конкурировать в чём-л. to compete with smb конкурировать с кем-л. to compete for smth конкурировать ради чего-л. relatively adv относительно, сравнительно relative adj относительный customer n заказчик; покупатель; клиент acceptance n одобрение, принятие throughout prep через, по всей площади, длине и т.п.; всё время, в течение всего времени diverse adj разный, разнообразный syn. different innovation n нововведение, новаторство aid v помогать aid n помощь depressed adj ослабленный, сниженный, подавленный promote v способствовать, содействовать emphasise v подчеркивать, придавать особое значение Foreign Trade What is now called international trade has existed for thousands of years long before there were nations with specific boundaries. Foreign trade means the exchange of goods and services between nations, but speaking in strictly economic terms, international trade today is not between nations. It is between producers and consumers or between producers in different parts of the globe. Nations do not trade, only economic units such as agricultural, industrial and service enterprises can participate in trade. Goods can be defined as finished products, as intermediate goods used in producing other goods, or as agricultural products and foodstuffs. International trade enables a nation to specialize in those goods it can produce most cheaply and efficiently and it is one of the greatest advantages of trade. On the other hand, trade also enables a country to consume more than it can produce if it depends only on its own resources. Finally, trade expands the potential market for the goods of a particular economy. Trade has always been the major factor ensuring good economic relations among nations. Different aspects of international trade and its role in the domestic economy are known to have been developed by many famous economists. International trade began to assume* its present form with the establishment of nation-states in the 17th and 18th centuries, new theories of economics, in particular of international trade, having appeared during this period. In 1776 the Scottish economist Adam Smith, in The Wealth of Nations, proposed that specialization in production leads to increased output and in order to meet a constantly growing demand for goods it is necessary that a country's scarce resources be allocated efficiently. According to Smith's theory, it is essential that a country trading internationally should specialize in those goods in which it has an absolute advantage – that is, the ones it can produce more cheaply and efficiently than its trading partners can. Exporting a portion of those goods, the country can in turn** import those that its trading partners produce more cheaply. To prove his theory Adam Smith used the example of Portuguese wine in contrast to English woollens***. Half a century later, having been modified by the English economist David Ricardo, the theory of international trade is still accepted by most modern economists. In line with the principle of comparative advantage, it is important that a country should gain from trading certain goods even though its trading partners can produce those goods more cheaply. The comparative advantage is supposed to be realized if each trading partner has a product that will bring a better price in another country than it will at home. If each country specializes in producing the goods in which it has a comparative advantage, more goods are produced, and the wealth of both the buying and the selling nations increases. Trade based on comparative advantage still exists: France and Italy are known for their wines, and Switzerland maintains a reputation for fine watches. Alongside this kind of trade, an exchange based on a competitive advantage began late in the 19th century. Several countries in Europe and North America having reached rather an advanced stage of industrialization, competitive advantage began to play a more important role in trade. With relatively similar economies countries could start competing for customers in each other's home markets. Whereas comparative advantage is based on location, competitive advantage must be earned by product quality and customer acceptance. For example, German manufacturers sell cars in the United States, and American automakers sell cars in Germany, both countries as well as Japanese automakers competing for customers throughout Europe and in Latin America. Thus, international trade leads to more efficient and increased world production, allows countries to consume a larger and more diverse amount of goods, expands the number of potential markets in which a country can sell its goods. The increased international demand for goods results in greater production and more extensive use of raw materials and labour, which means the growth of domestic employment. Competition from international trade can also force domestic firms to become more efficient through modernization and innovation. It is obvious that within each economy the importance of foreign trade varies. Some nations export only to expand their domestic market or to aid economically depressed sectors within the domestic economy. Other nations depend on trade for a large part of their national income and it is often important for them to develop import of manufactured goods in order to supply the ones for domestic consumption. In recent years foreign trade has also been considered as a means to promote growth within a nation's economy. Developing countries and international organizations have increasingly emphasized such trade. Пояснения к тексту: * to assume – зд. принимать ** in turn – в свою очередь *** woolens – шерстяные ткани 2. Вставьте пропущенные предлоги, где это необходимо. A) Goods can be moved directly … the producer … the consumer, but generally manufactured goods are delivered … consumers … indirect and more complicated channels. Wholesaling is a part … the marketing system standing … the manufacturer and the retailer and providing channels … goods distribution. Wholesalers buy goods … large quantities and sell them … small quantities … retailers, thus they simplify the distribution process. Dealing directly … diverse producers and trading … a large assortment of items, wholesalers … the same time trade … numerous independent retailers, so wholesaling is … great importance both … manufacturers and retailers. Small businesses are known to participate … the field of wholesaling, about one-fourth … wholesaling units accounting … one-third of total sales. B) Thousands ... retailers are known to compete ... each other ... consumers ... the market and their major purpose is "to have the right goods ... the right place ... the right time". To be successful a retailer should distinguish itself... others and carry ... a strategy ... meeting the demands ... a specific consumer group. This strategy includes … careful consideration ... the following questions: 1) the quality ... the product to be sold; 2) the available quantity ... the product; 3) the location ... the selling place; 4) the time to make the product available; 5) the pricing ... the product; 6) product advertising (зд. рекламирование). Many kinds ... retailers such as department stores (универмаг), specialty stores (специализированный магазин), discount stores (магазин, торгующий по сниженным ценам) and others compete ... providing consumers ... a convenient time and place to buy needed goods. As retailers are able to contact ... consumers directly, the former can study and influence ... the needs and preferences ... the latter. 3. Выберите подходящее по смыслу слово из предлагаемых в скобках вариантов. 1. Special agreements (allowed / allocated) the former Soviet bloc countries’ exports of meat, fruit, dairy (молочный) goods and vegetables to rise by 10 percent a year for five years. 2. The European Community due to importing and exporting (limited / diverse) resources is considered to be a more integrated market, in which distance, information barriers and tariffs are (considerably / relatively) unimportant. 3. The country will (gain / lose) by restricting imports if the government tends to aid economically depressed domestic sectors of the economy. 4. Special care should be taken by the government to protect economic interests of the (depressed / competitive) groups of the population and reduce absolute poverty (бедность). 5. Nowadays environment management should be (adjusted / accepted) as (an unimportant / a major) factor for any country’s national development and it should be (emphasized / expanded) by scientific, technical and administrative support. 6. The (wholesaler / retailer) performs the last stage of the distribution process, for he puts the goods in the hands of the actual consumer. 7. The law of (comparative / competitive) advantage states (утверждать) that countries specialize in producing and exporting the goods that they produce at a (relative / relatively) lower cost than other countries. 8. Due to achievements of modern sciences various (advantages / innovations) applied in production cycles have greatly decreased the share of labour-consuming operations. 9. Centralized control of the production factors results from the (acceptance / exception) of an ideology that (emphasizes / gives rise to) the importance of the group of people rather than the individual. 4. Составьте предложения из двух подходящих по смыслу частей.
1. The principle of absolute advantage assumes   2. Having been involved   3. The concept of competitive advantage proves   4. Developed countries   5. Both the buying and the selling nations   6. The theory of comparative advantage emphasizes   7. It is necessary   8. Being limited by scarce resources   9. In accordance with economic theory,   10. Promoting foreign trade a. in international division of labour, LDCs became the centres of cheap foreign labour. b. that the country can gain from trading high quality products and should compete for customers in the world market. c. producers from different countries participate in foreign trade as economic units. d. that a country should specialize in producing those goods which it can produce more cheaply than its trading partners. e. the governments want to expand the potential market for the goods of their countries. f. are known to have become main world trade centres, half of all foreign trade taking place between these countries. g. the nation has to develop wide trade relations to supply the necessary goods for domestic consumption. h. that developing countries export more finished goods instead of raw materials. i. that a country should specialize in producing certain goods although its trading partners produce those goods more cheaply. j. gain from trade relations, as countries can consume larger and more diverse amounts of goods.

5. Замените выделенные курсивом слова в скобках английскими словами из словарного минимума к тексту Foreign Trade в правильной грамматической форме.



Japan is known as a small nation with high population density (плотность). Traditionally the Japanese government has to (разрешать) domestic producers export manufactured goods in order to (получить) additional foodstuffs. This policy resulted in a low level of living standards of the country’s great masses.

In the late 1940s Japan was said to be close to bankruptcy and starvation (голод). But between 1965 and 1973 the country was able to maintain a real average growth rate of 10 percent per year. It is important that during the same period, (участвуя в международной торговле) Japan increased it at a rate of 16.8 percent in real terms or twice the rate at which total world trade (расширилась).

(Согласно) statistical reports, per capita income rose within the past ten years from $700 to over $2,400. the adoption of a special trade policy and (стимулирование нововведений) in production (позволило) Japan to overtake (догнать) West Germany in terms of GNP by 1968 and to become the world’s third (главным) producer after the USA and the Soviet Union. In contrast to Japan’s earlier dependence on foreign (помощь), by 1971 Japan had become the second largest contributor, among non-Communist nation, of long-term capital to underdeveloped countries. As a result of this amazing rapid economic growth Japan (усилила) its role in the world economy. It is well known that (разнообразные) Japanese goods are highly (конкурентоспособны) and are popular with (покупателей) (повсюду) the world.

6. Заполните пропуски следующими словами в соответствующей форме:

to allow, to emphasize, to compete with, to compete in, to compete for, to participate, to enable, to promote, to gain, gain, to expand, major, relatively, diverse, competitive, innovations, throughout

1. In 1992 US exports totaled about $447 billion, … US exports including chemicals, grain (зерно) or grain products, soybeans (соя) and coal (уголь).

2. The Industrial Revolution which began in the mid-18th century, … a few economies to develop and … … similar (похожий) goods.

3. Adam Smith … that businesses within each nation produced what was most suitable to their region, and industrial producers as economic units … from trading certain goods.

4. Nowadays some countries with … similar free market economies … … customers in each other’s home markets.

5. World trade … very rapidly since 1950, at an average rate of 8 percent per year.

6. In the 1960s the USA lost its dominant position in world trade as Japanese companies began successfully … … American ones.

7. It is known that an exchange based on … advantage appeared late in the 19th century when several countries had reached the stage of industrialization.

8. Many countries depend especially on foreign trade of … raw materials for their plants, factories and other industries.

9. Strong competition in the world market … producers to look for … in order to dominate in the world’s economy.

10. The membership in the European Economic Community … member countries to import goods and services from others on favourable terms (на льготных условиях).

11. Exploiting international differences in opportunity costs, countries … in foreign trade can get a net … .

12. Various degrees of socialism exist … the world, such as those in Egypt, Burma, Sweden and Denmark.

Раздел 14

1. Ознакомьтесь со словарным минимумом к тексту. Прочитайте и переведите текст “Assets and Liabilities”. asset(s) n актив, фонд; капитал, имущество assets and liabilities актив и пассив capital assets основные фонды, основной капитал, основные средства term n термин, выражение; период terms pl условия credit terms условия аккредитива, условия ссуды lending terms условия выдачи кредита accounting n учет, отчетность, бухгалтерское дело; анализ хозяйственной деятельности accounting cycle цикл учета; учетный период syn accounting period item n отдельный предмет, вид товара, изделия; статья (в счете, балансе), пункт, позиция, параграф account n счет, финансовый отчет, запись финансовой операции accounts pl отчетность, деловые книги accounts receivable счета дебиторов, счета к получению; ожидаемые поступления accounts payable счета к оплате; ожидаемые выплаты capital account счет основного капитала, счет основных фондов; баланс движения капиталов income account счет доходов (прибылей) и убытков current adj текущий current account текущий счет current assets оборотные средства (фонды); текущие (легкореализуемые, ликвидные) активы current liabilities краткосрочные обязательства; текущие пассивы ant noncurrent liabilities, long-term liabilities долгосрочные обязательства tangible adj осязаемый, материальный tangible assets материальные активы tangible item материальный предмет intangible adj неосязаемый, нематериальный intangible assets нематериальный актив intangible item нематериальный предмет stock-in-trade n товарный запас, товарная наличность, остаток непроданных товаров stock(s) n зд. активы, запас(ы), фонд(ы) in stock в запасе, в наличии, в ассортименте goodwill n гудвил, деловая репутация; ценность фирмы, определяющаяся ее клиентурой, репутацией, деловыми связями; престиж фирмы trademark n торговая марка copyright n авторское право to take into account принимать во внимание real estate n недвижимое имущество employee n служащий, рабочий, работающий по найму salary n заработная плата (служащих), оклад net worth стоимость имущества за вычетом обязательств; собственный капитал (предприятия), чистая стоимость компании equity n капитал компании, акционерный капитал; активы (предприятия) за вычетом задолженности investment interest процент инвестиций stockholder n акционер, владелец акций, владелец государственных ценных бумаг syn shareholder proper adj правильный, надлежащий properly adv правильно, должным образом operate v работать, управлять balance sheet балансовый отчет balance sheet account статья бухгалтерского баланса to be in balance быть сбалансированным accountant n эксперт по анализу балансов и финансовой отчетности, квалифицированный бухгалтер; ревизор, контролер equation n уравнение, равенство; правильное соотношение accounting equation бухгалтерская сбалансированность clear of debt без долга Assets and Liabilities The term "asset" means anything of value that is owned by a company and can be expressed in terms of money. Economic resources that provide a potential future service to the organization are called assets in accounting. A company's total assets include such items as cash, buildings, equipment, any other property and accounts receivable, that is, money owned by its customers. Assets are usually classified as current and long-term, both types consisting of tangible as well as of intangible items. Current tangible assets including cash, accounts receivable, stock-in-trade are usually converted into cash within one year and sometimes can be used as a means of payment. On the other hand, current intangible assets consist of short-term investments in stocks and bonds. Long-term intangible assets are not really visible and include such items as goodwill, patents, trademarks, copyrights, these assets often being the most important factor for obtaining future incomes. For example, goodwill means an intangible asset which takes into account the value added to a business as a result of its reputation which cannot be really calculated. In contrast, the real estate (such as farm land, machinery, buildings and other physical objects) belongs to long-term tangible assets. Liabilities are obligations that a company owes to another organization, to an individual (such as creditors and employees) or to the government. Like assets, liabilities are divided into current and long-term ones. Current liabilities are usually amounts that are paid within one year, including accounts payable, taxes on income and property, short-term loans, salaries and wages, and amounts of money owed to suppliers of goods and services. Noncurrent liabilities often called long-term are usually debts, such as bonds and long-term loans. The amount by which the total assets exceed total liabilities is known as the net worth which is usually called the equity for companies. When the company is a corporation, the equity means the investment interest of the owners (that is, the stockholders) in the organization's assets. The owners' equity can be increased either by investing more money in the company or by earning a profit and can be decreased because of the company's losses. All companies keep proper accounting system in order to know whether or not they are operating profitably, each of the assets and the liabilities and the equity being shown in a company's accounts separately. The balance sheet prepared by the company's accountant is one of the important financial reports showing the value of the total assets, total liabilities and equity on a given date. The relationship of these main categories is represented by the fundamental accounting equation: assets (everything that is owned) are equal to liabilities (owed) plus equity (clear of debt). ASSETS = LIABILITIES + EQUITY As all three factors are expressed in terms of money, they are limited to items that can be given a monetary value. The accounting equation should always be in balance, so that one side must equal the other. 2. Объедините слова и словосочетания в синонимичные пары. Wage, symbol, quantity, depreciation, intangible, form, gradually, price, invisible, obligation, employee, shape, trademark, value, to own, to replace, to owe, slowly, tangible, obsolescence, salary, to change, worker, to be obliged, to possess, liability, material, amount. 3. Выберите подходящее по смыслу слово из предлагаемых в скобках вариантов. 1. Knowing the company's (stocks / goodwill) value, creditors are ready to invest more money as they expect high (investment interest / salaries) at the end of the year. 2. Both farm equipment and farm buildings make up (short-term / long-term) (intangible / tangible) assets in agrobusiness. 3. (Accountants / Stockholders) prepare reports in financial (items / terms) describing the results of past resources allocation decisions. 4. Any company is responsible for paying salaries of (employers / employees) and (wages / salaries) of workers belonging to company current (liabilities / assets) regularly, usually monthly or weekly. 5. The amount of goods and services known as company (stock-in-trade / real estate) is available for sale at a given time and it is shown as an asset on the (accounts receivable / balance sheet). 6. (To calculate / To operate) properly the company's manager should rely on information obtained from public survey. 7. The greater is the difference between total assets and total liabilities, the greater is the company's (net loss / net worth} often known as the (equity / debt) for a corporation. 8. The fundamental accounting (equation / equilibrium) can be written in different forms, for example: assets – liabilities = equity. 9. The company's obligations are known to be classified as current and noncurrent ones, the former being also called (long-term / short-term) (liabilities / assets). 10. One should take into account that (accounts payable / goodwill) unlike the real estate belongs to intangible assets, but it can be sold like any other property. 4. Составьте предложения из двух подходящих по смыслу частей.
1. То be clear of debt 2. If current assets are less than current liabilities, 3. The money obtained from selling a company's current tangible assets 4. Although accounting appeared in the 16th century, 5. Both a person and a company can own such items of value as 6. In England the three major sections of the balance sheet, 7. In order to operate the business successfully 8. Accountants are supposed to deal with 9. The amount of the owner's investment interest 10. The Copyright Act adopted by the US Congress in 1976 k. is usually calculated at the end of a fiscal year. l. such as assets, liabilities and equity are likely to be arranged vertically. m. a stock, a plot (участок) of land, a building or a machine. n. created the legal foundation protecting the work of many industries, for example music recording. o. the company should repay all its debts to investors. p. the management of financial resources. q. it took much time to find satisfactory general methods of keeping finance records. r. one should process accounting information properly. s. is unlikely to cover the company's debts. t. the stockholders can't expect any dividends

Переведите словосочетания.

Расчет налога на добавленную стоимость; установление налогов; развитие торговых отношений; урегулирование долгов; аренда земли; обложение налогом; возвращение ссуды; покупка оборудования; управление предприятием; экспорт товаров.

Русским деепричастным оборотам соответствуют в английском языке причастные обороты без предлога или герундиальные обороты с предлогами when, after / on, while, before, by. Незаконченные действия, выраженные русскими деепричастиями, обозначаются простым причастием или герундием с предлогами when, while, before, by, например: принимая решение – making a decision, when making a decision. Законченные действия выражаются перфектным причастием или герундием с предлогами after, on, например: приняв решение – having made a decision, on making a decision.

Depreciation of Assets

In accounting, the process of allocating in a systematic and rational manner the cost of certain items of the assets (these are mainly capital assets) over the period of its useful life is known as depreciation. There are three main types of depreciation causing the decrease in value of an asset: 1) physical depreciation, 2) moral depreciation, 3) deterioration (порча, повреждение, износ).

In the process of production the capital assets gradually wear out, thus after a definite period of time they have to be replaced. This is known as their physical depreciation.

However, capital assets are also subject to moral depreciation that is after serving for some period of time, they may become obsolete (устаревший) before they are physically worn out and have to be replaced by more up-to-date means of production. Such obsolescence (изношенность) of the assets is caused by technological changes and by the introduction of new and better machinery and methods of production. Obsolescence can also be caused by the commodity produced by the asset, for example, if it goes out of fashion. In the latter case, the degree of obsolescence will depend on the specific nature of the asset. Sometimes assets can be easily adapted to alternative uses while others may have only one application.

Deterioration means a change in value of an asset because of the effects of nature, for example, for machinery this might be rust (ржавчина), for buildings it is connected with decadence (ухудшение), for farm lands it is caused by erosion.

In accounting, it is important to know depreciation of the capital assets as it increases the company's expenses, so two main methods are used by accountants in calculating periodic depreciation. The most widely used is the straight-line method (метод равномерного исчисления износа), in which the rate of depreciation is constant for the entire working life of the capital assets. According to the second method known as accelerated depreciation method (ускоренный метод исчисления износа), the depreciation rate in the first years of asset use is greater than in the later years.

Лексико-грамматический тест

Вариант 1

1. Укажите эквиваленты русского слова / словосочетания. Разный, разнообразный
a) depressed b) diverse c) intangible d) proper

Работать, управлять

a) to calculate b) to assume c) to operate d) to promoter

Международная торговля

a) wholesale trade b) balance sheet c) competitive advantage d) foreign trade

Ревизор

a) accountant b) goodwill c) customer d) retailer

Лексико-грамматический тест

Вариант 2

1. Укажите эквиваленты английских слов / словосочетаний. Access
a) доступ b) источник c) бухгалтерия (бухучет) d) кредит

To draw up

a) иметь дело b) составлять c) производить d) записывать

Accurate

a) предварительный b) ежегодный c) финансовый d) точный

Annually

a) всегда b) ежемесячно c) ежегодно d) часто

2. Вставьте подходящее по смыслу слово из предлагаемых вариантов.

1. … are transactions that represent the inflow of assets as a result of operations – that is the assets received from selling goods and rendering services.

  • revenues
  • flow
  • pricing
  • disclosure

2. Having drawn up the …, the bookkeeper expects the final financial statements to be prepared in the accounting department.

  • balance sheet
  • trial balance
  • debits
  • adverse balance

Раздел 13

1. Ознакомьтесь со словарным минимумом к тексту. Прочитайте и переведите текст “Foreign Trade”. foreign trade международная торговля syn. international trade wholesale trade оптовая торговля syn. wholesaling wholesaler оптовый торговец retail trade розничная торговля syn. retailing retailer розничный торговец participate v (in smth) участвовать (в чём-л.) enable v давать возможность (что-л. сделать) to enable smb to do smth давать кому-л. возможность или право что-л. сделать; позволить кому-л. сделать что-л. syn. let (let, let) v позволять, допускать; выдавать (заказ на что-л.) to let (smb) do smth разрешить, позволить (кому-л.) сделать что-л. syn. allow v позволять, разрешать to allow (smb) to do smth позволять (кому-л.) делать что-л. to be allowed to do smth иметь разрешение делать что-л. expand v расширять, увеличивать в объеме major adj более важный, значительный according to prep согласно, в соответствии с in accordance with в соответствии с чём-л., согласно чему-л. syn. in line with absolute advantage абсолютное преимущество comparative advantageсравнительное преимущество to compare with smth сравнивать с чём-л. to compare to smth уподоблять чему-л. in comparison with smth в сравнении с чём-л. gain v выигрывать; получать; извлекать выгоду gain n прирост; прибыль; выигрыш gains pl доходы; выручка; прибыль, заработок; увеличение, рост competitive adj конкурентный, конкурентоспособный competitive advantage преимущество, основанное на конкуренции competition n соревнование; состязание; конкуренция competitiveness n конкурентная способность compete v соревноваться, конкурировать to compete in smth конкурировать в чём-л. to compete with smb конкурировать с кем-л. to compete for smth конкурировать ради чего-л. relatively adv относительно, сравнительно relative adj относительный customer n заказчик; покупатель; клиент acceptance n одобрение, принятие throughout prep через, по всей площади, длине и т.п.; всё время, в течение всего времени diverse adj разный, разнообразный syn. different innovation n нововведение, новаторство aid v помогать aid n помощь depressed adj ослабленный, сниженный, подавленный promote v способствовать, содействовать emphasise v подчеркивать, придавать особое значение Foreign Trade What is now called international trade has existed for thousands of years long before there were nations with specific boundaries. Foreign trade means the exchange of goods and services between nations, but speaking in strictly economic terms, international trade today is not between nations. It is between producers and consumers or between producers in different parts of the globe. Nations do not trade, only economic units such as agricultural, industrial and service enterprises can participate in trade. Goods can be defined as finished products, as intermediate goods used in producing other goods, or as agricultural products and foodstuffs. International trade enables a nation to specialize in those goods it can produce most cheaply and efficiently and it is one of the greatest advantages of trade. On the other hand, trade also enables a country to consume more than it can produce if it depends only on its own resources. Finally, trade expands the potential market for the goods of a particular economy. Trade has always been the major factor ensuring good economic relations among nations. Different aspects of international trade and its role in the domestic economy are known to have been developed by many famous economists. International trade began to assume* its present form with the establishment of nation-states in the 17th and 18th centuries, new theories of economics, in particular of international trade, having appeared during this period. In 1776 the Scottish economist Adam Smith, in The Wealth of Nations, proposed that specialization in production leads to increased output and in order to meet a constantly growing demand for goods it is necessary that a country's scarce resources be allocated efficiently. According to Smith's theory, it is essential that a country trading internationally should specialize in those goods in which it has an absolute advantage – that is, the ones it can produce more cheaply and efficiently than its trading partners can. Exporting a portion of those goods, the country can in turn** import those that its trading partners produce more cheaply. To prove his theory Adam Smith used the example of Portuguese wine in contrast to English woollens***. Half a century later, having been modified by the English economist David Ricardo, the theory of international trade is still accepted by most modern economists. In line with the principle of comparative advantage, it is important that a country should gain from trading certain goods even though its trading partners can produce those goods more cheaply. The comparative advantage is supposed to be realized if each trading partner has a product that will bring a better price in another country than it will at home. If each country specializes in producing the goods in which it has a comparative advantage, more goods are produced, and the wealth of both the buying and the selling nations increases. Trade based on comparative advantage still exists: France and Italy are known for their wines, and Switzerland maintains a reputation for fine watches. Alongside this kind of trade, an exchange based on a competitive advantage began late in the 19th century. Several countries in Europe and North America having reached rather an advanced stage of industrialization, competitive advantage began to play a more important role in trade. With relatively similar economies countries could start competing for customers in each other's home markets. Whereas comparative advantage is based on location, competitive advantage must be earned by product quality and customer acceptance. For example, German manufacturers sell cars in the United States, and American automakers sell cars in Germany, both countries as well as Japanese automakers competing for customers throughout Europe and in Latin America. Thus, international trade leads to more efficient and increased world production, allows countries to consume a larger and more diverse amount of goods, expands the number of potential markets in which a country can sell its goods. The increased international demand for goods results in greater production and more extensive use of raw materials and labour, which means the growth of domestic employment. Competition from international trade can also force domestic firms to become more efficient through modernization and innovation. It is obvious that within each economy the importance of foreign trade varies. Some nations export only to expand their domestic market or to aid economically depressed sectors within the domestic economy. Other nations depend on trade for a large part of their national income and it is often important for them to develop import of manufactured goods in order to supply the ones for domestic consumption. In recent years foreign trade has also been considered as a means to promote growth within a nation's economy. Developing countries and international organizations have increasingly emphasized such trade. Пояснения к тексту: * to assume – зд. принимать ** in turn – в свою очередь *** woolens – шерстяные ткани 2. Вставьте пропущенные предлоги, где это необходимо. A) Goods can be moved directly … the producer … the consumer, but generally manufactured goods are delivered … consumers … indirect and more complicated channels. Wholesaling is a part … the marketing system standing … the manufacturer and the retailer and providing channels … goods distribution. Wholesalers buy goods … large quantities and sell them … small quantities … retailers, thus they simplify the distribution process. Dealing directly … diverse producers and trading … a large assortment of items, wholesalers … the same time trade … numerous independent retailers, so wholesaling is … great importance both … manufacturers and retailers. Small businesses are known to participate … the field of wholesaling, about one-fourth … wholesaling units accounting … one-third of total sales. B) Thousands ... retailers are known to compete ... each other ... consumers ... the market and their major purpose is "to have the right goods ... the right place ... the right time". To be successful a retailer should distinguish itself... others and carry ... a strategy ... meeting the demands ... a specific consumer group. This strategy includes … careful consideration ... the following questions: 1) the quality ... the product to be sold; 2) the available quantity ... the product; 3) the location ... the selling place; 4) the time to make the product available; 5) the pricing ... the product; 6) product advertising (зд. рекламирование). Many kinds ... retailers such as department stores (универмаг), specialty stores (специализированный магазин), discount stores (магазин, торгующий по сниженным ценам) and others compete ... providing consumers ... a convenient time and place to buy needed goods. As retailers are able to contact ... consumers directly, the former can study and influence ... the needs and preferences ... the latter. 3. Выберите подходящее по смыслу слово из предлагаемых в скобках вариантов. 1. Special agreements (allowed / allocated) the former Soviet bloc countries’ exports of meat, fruit, dairy (молочный) goods and vegetables to rise by 10 percent a year for five years. 2. The European Community due to importing and exporting (limited / diverse) resources is considered to be a more integrated market, in which distance, information barriers and tariffs are (considerably / relatively) unimportant. 3. The country will (gain / lose) by restricting imports if the government tends to aid economically depressed domestic sectors of the economy. 4. Special care should be taken by the government to protect economic interests of the (depressed / competitive) groups of the population and reduce absolute poverty (бедность). 5. Nowadays environment management should be (adjusted / accepted) as (an unimportant / a major) factor for any country’s national development and it should be (emphasized / expanded) by scientific, technical and administrative support. 6. The (wholesaler / retailer) performs the last stage of the distribution process, for he puts the goods in the hands of the actual consumer. 7. The law of (comparative / competitive) advantage states (утверждать) that countries specialize in producing and exporting the goods that they produce at a (relative / relatively) lower cost than other countries. 8. Due to achievements of modern sciences various (advantages / innovations) applied in production cycles have greatly decreased the share of labour-consuming operations. 9. Centralized control of the production factors results from the (acceptance / exception) of an ideology that (emphasizes / gives rise to) the importance of the group of people rather than the individual. 4. Составьте предложения из двух подходящих по смыслу частей.
1. The principle of absolute advantage assumes   2. Having been involved   3. The concept of competitive advantage proves   4. Developed countries   5. Both the buying and the selling nations   6. The theory of comparative advantage emphasizes   7. It is necessary   8. Being limited by scarce resources   9. In accordance with economic theory,   10. Promoting foreign trade a. in international division of labour, LDCs became the centres of cheap foreign labour. b. that the country can gain from trading high quality products and should compete for customers in the world market. c. producers from different countries participate in foreign trade as economic units. d. that a country should specialize in producing those goods which it can produce more cheaply than its trading partners. e. the governments want to expand the potential market for the goods of their countries. f. are known to have become main world trade centres, half of all foreign trade taking place between these countries. g. the nation has to develop wide trade relations to supply the necessary goods for domestic consumption. h. that developing countries export more finished goods instead of raw materials. i. that a country should specialize in producing certain goods although its trading partners produce those goods more cheaply. j. gain from trade relations, as countries can consume larger and more diverse amounts of goods.

5. Замените выделенные курсивом слова в скобках английскими словами из словарного минимума к тексту Foreign Trade в правильной грамматической форме.

Japan is known as a small nation with high population density (плотность). Traditionally the Japanese government has to (разрешать) domestic producers export manufactured goods in order to (получить) additional foodstuffs. This policy resulted in a low level of living standards of the country’s great masses.

In the late 1940s Japan was said to be close to bankruptcy and starvation (голод). But between 1965 and 1973 the country was able to maintain a real average growth rate of 10 percent per year. It is important that during the same period, (участвуя в международной торговле) Japan increased it at a rate of 16.8 percent in real terms or twice the rate at which total world trade (расширилась).

(Согласно) statistical reports, per capita income rose within the past ten years from $700 to over $2,400. the adoption of a special trade policy and (стимулирование нововведений) in production (позволило) Japan to overtake (догнать) West Germany in terms of GNP by 1968 and to become the world’s third (главным) producer after the USA and the Soviet Union. In contrast to Japan’s earlier dependence on foreign (помощь), by 1971 Japan had become the second largest contributor, among non-Communist nation, of long-term capital to underdeveloped countries. As a result of this amazing rapid economic growth Japan (усилила) its role in the world economy. It is well known that (разнообразные) Japanese goods are highly (конкурентоспособны) and are popular with (покупателей) (повсюду) the world.

6. Заполните пропуски следующими словами в соответствующей форме:

to allow, to emphasize, to compete with, to compete in, to compete for, to participate, to enable, to promote, to gain, gain, to expand, major, relatively, diverse, competitive, innovations, throughout

1. In 1992 US exports totaled about $447 billion, … US exports including chemicals, grain (зерно) or grain products, soybeans (соя) and coal (уголь).

2. The Industrial Revolution which began in the mid-18th century, … a few economies to develop and … … similar (похожий) goods.

3. Adam Smith … that businesses within each nation produced what was most suitable to their region, and industrial producers as economic units … from trading certain goods.

4. Nowadays some countries with … similar free market economies … … customers in each other’s home markets.

5. World trade … very rapidly since 1950, at an average rate of 8 percent per year.

6. In the 1960s the USA lost its dominant position in world trade as Japanese companies began successfully … … American ones.

7. It is known that an exchange based on … advantage appeared late in the 19th century when several countries had reached the stage of industrialization.

8. Many countries depend especially on foreign trade of … raw materials for their plants, factories and other industries.

9. Strong competition in the world market … producers to look for … in order to dominate in the world’s economy.

10. The membership in the European Economic Community … member countries to import goods and services from others on favourable terms (на льготных условиях).

11. Exploiting international differences in opportunity costs, countries … in foreign trade can get a net … .

12. Various degrees of socialism exist … the world, such as those in Egypt, Burma, Sweden and Denmark.

Раскройте скобки и употребите глагол в соответствующей форме.

A new important trend (to note) by some economists appeared in international trade in the last third of the 20th century. (To participate) in trade many countries have been more intensively involved in production sharing (зд. производственная специализация) which means that a product (to manufacture) in stages (to distribute) across more than one country. (To use) the example of the Ford Fiesta automobile production, the economist Drucker supported the (to propose) concept. (To design) the car, Germany started producing the engine (двигатель) and chassis and three more countries (to engage) in the production process. The brakes (тормоза) and transmission (коробка передач) (to produce) in Mexico and the electrical system (to manufacture) in Canada as well as German output (to deliver) to the USA which (to play) the major part in the production assembling (сборка) the whole car.

So, economic cooperation (to base) on rational production sharing (to allow) all four countries to gain much from this innovation in foreign trade. (To change) radically the traditional concept of trade as the exchange of goods or services across national borders, production sharing (to use) widely between both the developed countries and the LDCs now.









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