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Скачати одним файлом. Книга: Англійська для економістів - Гаращенко
16 Labour and capital, 17 Money, 18 Banks, 19 Aggregate supply, 20 Aggregate supply
The capital which people provide to help new businesses is an accumulation of previous surpluses on previous business activities. In this way the past is used to finance the future. Such capital is accumulated by a deliberate policy of saving surpluses. This policy may be personal and individual, or it may be public and collective. As such, it is common to both the capitalistic and communistic systems. In both systems, a certain part of the profits is “ploughed back” into the system in order to create capital.
In general terms, capital can be defined as (1) a factor of production (for example, machinery or cash); (2) the assets possessed by a person, a company or a nation. Land, houses and shares in a business are capital. In terms of the state, all railways, docks, roads, airports and state funds of money are part of the nation’s capital.
Vocabularyemployer – роботодавець
at a negotiated rate – на договірній основі (тарифі)
surplus – надлишок
to accumulate – накопичувати
employee – працівник
accommodation – приміщення
machinery – машинне устаткування
to bear the risk – ризикувати
to justify – оправдовувати
to earn profits – заробляти прибутки
previous surpluses – попередні надлишки
a deliberate policy – обміркована політика
“ploughed back” – повертається назад.
I. Complete the sentences using the text:1. Labour is any … .
2. Profit is the … .
3. Most businesses need capital in order to … .
4. The employers and the providers of capital bear … .
5. The capital which people provide to help new businesses is an ..
6. A deliberate policy of saving surpluses may be … .
7. Capital can be defines as … .
II. Answer the questions, basing your answers on the text1. What is profit?
2. At what point does an employer obtain his surplus?
3. Who may he be required to share it with?
4. What do most businesses need?
5. Why is there always an element of risk in providing capital?
6. Who bears the risk?
7. What justifies the risk?
8. How is the past used to finance the future?
9. What do people plough back into the system?
10. Why is it ploughed back?
11. What examples of private capital are given?
12. What examples of public capital are given?
III. Say whether these statements are true or false and if they are false, say why.1. Labour is work performed by an employer at a negotiated rate.
2. The expenses of a business are part of its surplus.
3. Usually new businesses need capital.
4. Because businesses may not always be successful, there is always risk involved in financing them.
5. Employers and employees share the risk in financing new enterprises.
6. The surpluses, which people provide to help new businesses arise from previous economic activities.
7. Communistic economies also have policies of saving surpluses.
8. A nation’s capital in economic terms is the city where the government is situated.
Книга: Англійська для економістів - Гаращенко
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