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ECONOMY OF THE UNITED STATES OF AMERICA

 

READING DRILLS

1. Practise the pronunciation of the following words:

a) stress the first syllable:

capital, property, business, marketplace, privately, ownership, moderate, product, profit, marked, wealth, fertile, soil, non-ferrous, powerful;

b) stress the second syllable:

produce, production, predominance, development, extremely, economist, decision, combine, despite, describe, provide, advance.

2. Name the word-building elements (suffixes, prefixes) and

the part of speech of each word:

to unite — unity — united — union; to develop — development — developed — developmental; to profit — profit — profitable — unprofitable — profitably — profiteer — profitability; industry — industrial — industrialist — to industrialize — industrialization — industrially — industrious; economy — economic — economics — economical — economically — to economize — economist.

 

Text A

The United States of America is one of the largest countries in the world. It has a developed free enterprise economy1. It means that people are able to own2capital and property and to run their own businesses3for making profit4. Most economic decisions in the country are made in the marketplace. Nearly 90 per cent of the goods and services5produced in the country each year come from privately owned companies and firms.

Despite6the fact that the United States has a free enterprise system, government’s role in the economy is so important that economists describe it as a mixed economy7. It is an economic system that combines elements of public ownership8of the means of production9with private ownership10, and elements of free enterprise with government participation and control.

The USA is a country with a highly developed economy. With only 5 per cent of the world’s population and about 6 per cent of its land area the USA produces 25 per cent of the world’s industrial products, agricultural goods, and services. It leads the capitalist world in industrial and agricultural production, leaving the other capitalist countries far behind.

The United States owes11its high level of economic development to its great wealth of minerals and fertile farm soil12, together with a moderate climate13. The territory is extremely rich in such minerals as coal, oil, natural gas, iron ore14and non-ferrous metals15. They provide a solid base for modern industry.

The country has very powerful industries, advanced technologies, and science. The structural composition of the US industry shows a marked predominance16of heavy industry, namely mining, chemical, metallurgy, machine-building, nuclear power and aeromissile industries. Electronic and electric engineering, transport, communication and machine-tool industries can be found almost in all large cities of the USA.

 

COMMENTS

 

1. free enterprise economy — економiка, що ґрунтується на вiльному пiдприємництвi

2. to own — мати, володiти

3. to run a business — вести діло, управляти пiдприємством



4. ... for making profit — для отримання прибутку

5. goods and services — товари та послуги

6. despite — незважаючи на

7. mixed economy — змiшана економiка

8. public ownership — державна власнiсть

9. means of production — засоби виробництва

10. private ownership — приватна власнiсть

11. to owe smth to — бути зобов’язаним чимось комусь; завдячувати

12. fertile soil — родючий ґрунт

13. moderate climate — помiрний клiмат

14. iron ore — залiзна руда

15. non-ferrous metals — кольоровi метали

16. marked predominance — значна перевага

VOCABULARY EXERCISES

I. Find equivalents:

1. free enterprise economy 2. to run a business 3. economic system 4. private ownership 5. means of production 6. public ownership 7. mixed economy 8. agricultural production 9. economic development 10. non-ferrous metals 11. advanced technology 12. moderate climate 13. to make decisions 14. goods and services а. економiчний розвиток б. кольоровi метали в. змiшана економiка г. засоби виробництва д. товари та послуги е. помiрний клiмат є. передова технологiя ж. приймати рiшення з. економiчна система и. сiльськогосподарське виробництво і. вести діло ї. державна власнiсть й. приватна власнiсть к. економiка, що ґрунтується на вiльному пiдприємництвi

II. Substitute the words in bold type by their synonyms:

1. In spite of the fact that the United States has a free enterprise system, government’s role in the economy is very significant. 2. The USA is one of the most highly developed capitalist countries. 3. The United States owes its high level of economic development to its great riches of minerals and fertile farm soil, together with a temperate climate. 4. Minerals provide a strong base for present-day industry. 5. Mixed economy combines element of public property of the means of production with private property.

III.Fill in the blanks with prepositions or adverbs if necessary:

1. Mixed economy is an economic system that combines elements ... public ownership ... the means ... production ... private ownership, and elements ... free enterprise ... government participation and control. 2. The USA is a country ... a highly developed economy. 3. It leads the capitalist world ... industrial and agricultural production, leaving the other capitalist countries ... behind. 4. Nearly 90 per cent ... the goods and services produced ... the country each year come ... privately owned companies and firms.
5. The territory ... the country is extremely rich ... minerals.

IV. Fill in the blanks below with the most appropriate terms

from the list:

сapital; free enterprise economy; property; mixed economy; means of production; minerals; businesses; private ownership; industrial and agricultural production; goods and services.

1. The United States of America has a developed _______ . 2. People are able to own ________ and ________ and to run their own _______ for making profit. 3. Nearly 90 per cent of ___________ produced in the country each year come from privately owned firms. 4. Economists describe the American system as a _________ . 5. It combines elements of public ownership of the ________ with _________ . 6. The USA leads the capitalist world in _________ , leaving the other capitalist countries far behind. 7.The territory of the USA is extremely rich in ___________ .

V. Match each term in Column A with its definition in Column B:

Column A Column B

1. mixed economy a. The money needed to start and continue operating a business commerce and industry.
2. capitalism b. The application of science to commerce and industry.
3. marketplace c. The production, distribution and sale of good and services for a profit.
4. private property d. Any place in which goods are bought and sold.
5. capital e. Economic system that combines elements of free-market and command economies.
6. ownership f. Free enterprise system.
7. technology g. Right over property, including right of possession, exclusive enjoyment, destruction etc.
8. business h. Goods owned and controlled by individuals.

 

VI.Define which of the following items best completes

the statement:

1. In a free enterprise system

a. individuals may enter any lawful business.

b. each citizen has the right to vote in elections.

c. goods are so plentiful that they are free.

d. workers do not charge for their labour.

2. An economy is «mixed» when

a. goods and services are produced by both publicly and privately.

b. government owns and controls all businesses.

c. economic decisions are made by tradition.

d. there is a «mixture» of rich and poor people.

3. Today in the American economy

a. government plays only a tiny part.

b. economic decisions are made in the marketplace.

c. government plays a significant role.

d. free enterprise no longer exists.

4. Which of the following is a reason for government participation in
the economy

a. to reduce competition in the marketplace.

b. to provide goods and services more cheaply than private enterprise.

c. to regulate harmful externalities.

d. to guarantee that all business firms earn a profit.

VII.Complete the following sentences:

1. The United States of America is ... . 2. Free enterprise economy means ... . 3. Despite the fact that the United States has a free enterprise system ... . 4. Mixed economy is ... . 5. The United States owes its high level of economic development ... . 6. The territory of the USA is extremely rich in such minerals as ... . 7. The structural composition of the US industry shows ... . 8. Electronic and electric engineering, transport, communication and machine-tool industries can be found ... .

VIII.Answer the following questions:

1. Is the United States of America one of the largest countries in the world? 2. What type of economic system does the USA have? What does it mean? 3. Where are most economic decisions made in the country? 4. What is the role of the government in the US economy? 5. What is a mixed economy? 6. What place does the USA hold in the capitalist world? 7. What does the country owe its high level of economic development to? 8. What minerals is the territory rich in? What do they provide? 9. Does the country have powerful industries, advanced technologies, and science? 10. What does the structural composition of the US industry show? 11. What industries can be found in large cities?

IX. Translate into English:

1. Cполученi Штати Америки — одна з найбiльших країн свiту.
2. Вона має розвинуту економiку, яка ґрунтується на вiльному пiдпри­ємництвi. 3. Це означає, що люди можуть володiти капiталом i влас­нiстю та провадити власне діло для отримання прибутку. 4. Близько 90% послуг та товарiв, якi виробляються в країнi, надходять вiд приватних компанiй та фiрм. 5. Роль уряду в економiцi країни є на­стiльки важливою, що економiсти вважають її змiшаною економiкою. 6. Економiчна система поєднує елементи приватної та державної власностi на засоби виробництва. 7. США — високорозвинута капi­талiстична країна. 8. Територiя США надзвичайно багата на такі ко­рисні копалини, як вугiлля, нафта, природний газ, залiзна руда та руди кольорових металiв. 9. Це забезпечує мiцну базу для сучасної про­мисловостi країни. 10. У структурному складi промисловостi країни переважaє важка промисловiсть.

X. Give the characteristic of the US economy using

the following words and word-combinations:

free enterprise economy; to own capital and property; to run a business; for making profit; to make decisions; marketplace; goods and services; privately owned companies and firms; economic system; public ownership of the means of production; government’s role; mixed economy; private ownership; industrial and agricultural production; high level of economic development; great wealth of minerals; highly developed economy; solid base for modern industry; heavy industry; advanced technology; mining, chemical, machine-building, nuclear power, aeromissile industries; machine-tool industry; metallurgy.

READING DRILLS

1. Practise the pronunciation of the following words:

a) stress the first syllable:

operate, concentrate, dominant, summerize, rainfall, principal, average, output, grapefruit, sunflower, oats, barley, vegetable, hay, strawberry, quantity, arable, husbandry, highland, pasture, breeding, dairying;

b) stress the second syllable:

increase, exceed, domestic, tobacco, substantially, dramatically;

c) stress the third syllable:

corporation, irrigation, productivity, tangerine, scientifically.

Text B

Agriculture is one of the most important sectors of the US economy. It accounts for about 3 per cent of the GNP1. Farms are owned by the people who operate them and by business corporations. Farming2is largely mechanized and scientifically controlled.

The dominant trend in American agriculture can be summerized in two words — increased productivity3. Gross agricultural output4has increased dramatically: 50 years ago a farmer fed 10 people; at present the average farmer feeds 75.

American agriculture produces more food products than any other capitalist country. Production of most crops substantially exceeds domestic needs5, making the United States a leading exporter of food. About a fifth of the country’s territory is arable6. The rainfall is not high, and irrigation is widely used there. The principal crops grown in the country are: corn, wheat, soy-beans7, sugar-cane8and sugar beets, sunflower, tobacco, hay, rice, cotton, oats, and barley.

The United States harvests a lot of vegetables such as tomatoes, potatoes and onions. Florida and California are famous for their fruit production. They grow oranges, lemons, tangerines and grapefruit. Strawberries, pears and apples are also produced in large quantities.

Animal husbandry is also developed in the country. Pastures9occupy more than one-forth of the United States. The highlands in the West of the country are famous for their dairy and beef cattle breeding, pig raising, and sheep farming. Dairying is well developed, and milk, cheese, and butter production exceed domestic needs. Wool production10, leather and textile industries11are also developed there. Poultry-farming and vegetable growing are concentrated in the countryside12near all the big cities.

COMMENTS

1. GNP — ВНП (валовий нацiональний продукт)

2. farming — сiльське господарство

3. increased productivity — зростання прoдуктивностi

4. gross agricultural output — обсяг валової продукцiї сiльського господарства

5. domestic needs — внутрiшнi потреби

6. arable land — орна земля

7. soy-beans — соя, соєвi боби

8. sugar-cane — цукрова тростина

9. pasture — пасовище

10. wool production — виробництво вовни

11. leather industry — шкiряна промисловiсть

12. countryside — сiльська мiсцевiсть

 

VOCABULARY EXERCISES

 

I. Give the corresponding nouns to the following verbs:

to develop, to generate, to mechanize, to communicate, to predominate, to employ, to irrigate, to grow, to occupy, to describe, to concentrate, to mean, to produce, to combine, to participate, to govern, to provide.

II. Form adverbs from to the following adjectives:

private, near, high, industrial, extreme, economic, substantial, scientific, especial, slow, large, primary, main, wide, easy, immense, dramatic.

III. Give the English equivalents for:

валовий нацiональний продукт; сiльське господарство; домiнуюча тенденцiя; зростання продуктивностi; обсяг валової продукцiї сiльсь­кого господарства; продукти харчування; внутрiшнi потреби; кiлькiсть опадiв; зрошення; цукрова тростина; у великiй кiлькостi; розведення молочної та м’ясної худоби; cвинарство; вiвчарство; птахiвництво; вирощування овочiв; провiдний експортер; орна земля; виробництво вовни; сiльська мiсцевiсть; шкiряна промисловiсть.

IV.Match the synonyms:

farming, trend, sector, to increase, cattle-raising, to manage, tendency, to grow, agriculture, cattle-breeding, about, to operate, nearly, manufacturing, branch, to possess, ownership, production.

V.Translate into Ukrainian:

state power, oak forest, iron ore, animal products, fruit production, crop production increase, food industry, government participation and control, land use, spring wheat, winter wheat, market economy, business corporations, food products, free enterprise economy, capitalist country.

VI. Ask someone

if agriculture is one of the most important sectors of the US economy; it accounts about 3 per cent of the GNP; farming is largely mechanized and scientifically controlled; gross agricultural output has increased dramatically; animal husbandry is also developed in the country;

what the principal crops grown in the country are; vegetables the United States harvests; Florida and California are famous for; they grow; territory pastures occupy; the highlands are famous for; industries are developed there;

how the dominant trend in American agriculture can be summerized;

why irrigation is widely used in the country;

where poultry-farming and vegetable growing are concentrated.

VII. Retell the text in English according to the plan:

1. Сiльське господарство — одна з найважливiших галузей економiки
Сполучених Штатiв Америки.

2. Провiдна роль ферм з високим рiвнем механiзацiї.

3. Основна тенденцiя в розвитку сiльського господарства країни.

4. Основнi зерновi культури, якi вирощуються в країнi.

5. Розвиток садiвництва та овочiвництва в країнi.

6. Роль тваринництва в сiльськогосподарському виробництвi.

 


Date: 2015-01-11; view: 1327


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