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The word capital has many meanings. To most people, it is simply a certain amount of money; to an accountant, it may represent the value of the shares of a firm. In an economic discussion of productive factors, capital means the fruits of past productive efforts which have become available to help future production.
You may own a tract of land in a boom town ideally situated for the erection of new homes. Unless you can get construction equipment, such as excavating machines and concrete mixers, your houses will not be ready when they are needed. Fortunately, this equipment is available and the houses can be started without delay. The availability of resources, which have previously been combined into usable tools, is the essential ingredient of capital. But we must not overlook the element of proper timing, which is an important part of the production process.
Capital is the most elusive concept in our classification of productive factors. A highly simplified example may help to clarify its meaning. Let us assume that a man is stranded on an island where he is the only human being alive. He exists by eating coconuts which he gathers and opens with his bare hands. Working seven hours a day, he collected enough to stay alive, but no more. Obviously, even a crude tool forged from stone would greatly simplify his job. If it takes him a day to shape such a tool, he must work an extra hour every day for a week and store the daily coconut surplus to accumulate some food for the day when he will be busy making the tool. He gives up an hour of his leisure time and refrains from eating the extra food collected in the last hour in order to be able to produce his tool. The food accumulated by his special effort is his capital, and the tool produced with its help is a capital good.
Вариант III
I. Перепишите следующие предложения, определите в каждом из них
видо-временную форму и залог глагола-сказуемого. Переведите
предложения на русский язык.
1.
At the end of each fiscal year, total earnings or losses are prorated to each shareholder.
2.
Many new small companies are being created in our country.
3.
Only products which will not endanger health or safety are put on the market.
4.
We couldn’t cancel the order because it had already been sent.
II. Перепишите следующие предложения и переведите их на русский язык,
обращая внимание на различное значение слов to be, to have, to do.
1.
Managers of factories and mines are to obey safety requirements.
2.
The bonds have lost much of their value.
3.
I’ll try to do it.
4.
Some taxes are the same for every legal form enterprise, but taxes on the income of a corporation differ substantially.
III. Перепишите предложения и переведите их на русский язык, обращая
внимание на функцию инфинитива.
1.
Many women are happy to work at home after they have put their children to bed.
2.
The European Commission created an independent Consumer Policy Service in order to give more authority to the implementation of consumer policy.
3.
Consumers have the right to receive advice and help when seeking redress for faulty products.
4.
We are sorry to inform you that our client became insolvent.
IV. Перепишите и письменно переведите на русский язык следующие
предложения. Помните, что объектный и субъектный инфинитивные
обороты соответствуют придаточным предложениям.
1.
The agreement between those two firms was found to be quite productive.
2.
The contract appears to be most acceptable.
3.
The output of machinery is known to be steadily increasing all over the world.
4.
Nuclear plants are expected to be located away from urban areas.
V. Перепишите и письменно переведите на русский язык следующие
предложения, обращая внимание на разные значения слов it, that, one.
1.
May we again remind you that this account is still overdue.
2.
Does one need to include an agreement with your agents?
3.
It is far more profitable for them.
4.
It corresponds to the highest standards and to the highest level of technology.
VI. Перепишите предложения и переведите их на русский язык, обращая
внимание на различное значение выделенных слов.
1.
Total spending declines as income falls and unemployment rises.
2.
Because of the reorganization of our production we cannot use the ordered material.
3.
These are agreements for merchant firms and sales agents.
4.
Since we have gone over the budget, we cannot buy any computers.
VII. Прочитайте текст. Письменно переведите на русский язык.
Ответьте письменно на следующие вопросы:
1.
What is a wage rate?
2.
What is the most important form of income?
3.
Do people always receive what they are worth?
*****
finished goods – произведенные товары
in dispute – обсуждается
… would ensure his receiving all he is worth – … придаст уверенности, что он обязательно получит все, что заслуживает
Wages
A wage rate is the price paid for human effort. A wage may be called a salary, a commission, a stipend, or any other term particular to specific types of work. Regardless of its name, every wage is a cost to the employer and an income to the worker. Wages still represent the largest share of all production costs and the most important form of income. Unless rising productivity permits better utilization of human labor, increases in labor costs are likely to be reflected in higher prices for finished goods. A rise in a worker’s income adds to satisfaction, but it does so only if the higher income buys more goods. Both aspects of wages – cost and income – are forcefully argued about by employers and workers when wage rates are in dispute.
We shall make the unrealistic assumption here that both employers and workers know of all alternative opportunities and are ready to make a switch for a better offer. In such a situation, the lowest wage at which a worker would become available would be determined by his contribution to the production process. If one employer should try to pay less, he could not find people to work for him, since the worker knows where he can receive higher pay and is willing to take advantage of it. The competition of employers for his services would ensure his receiving all he is worth.
Вариант IV
I. Перепишите следующие предложения, определите в каждом из них
видо-временную форму и залог глагола-сказуемого. Переведите
предложения на русский язык.
1.
According to the data of 1991, nearly 64% of GDP (внутренний национальный продукт) was devoted to private consumption.
2.
In the ladies’ department, dresses have been reduced to prices as low as half price and some have been reduced even lower.
3.
When a card is presented anywhere in payment for goods or services, the place of business must accept the card without questions.
4.
The price was not accepted by the buyers.
II. Перепишите следующие предложения и переведите их на русский язык,
обращая внимание на различное значение слов to be, to have, to do.
1.
General Electric has renewed their efforts to help women reach higher levels because they believe that it is good for their profits.
2.
If the parties do not come to an agreement, all the disputes are to be submitted for Arbitration.
3.
The seller is to take care of and cover expenses for insurance of the equipment under the contract.
4.
The contract had to be discussed before the director’s departure.
III. Перепишите предложения и переведите их на русский язык, обращая
внимание на функцию инфинитива.
1.
We have the right to claim a penalty.
2.
We’ll also send you some documents to facilitate customs clearance.
3.
We plan to compensate you for your losses.
4.
The seller is to inform the buyer by fax regarding the date of shipment.
IV. Перепишите и письменно переведите на русский язык следующие
предложения. Помните, что объектный и субъектный инфинитивные
обороты соответствуют придаточным предложениям.
1.
They expected the manager to talk to them.
2.
I wanted him to be invited to the negotiations.
3.
He seemed to have absolutely forgotten about his obligations.
4.
She appeared to be the best book-keeper in our company.
V. Перепишите и письменно переведите на русский язык следующие
предложения, обращая внимание на разные значения слов it, that, one.
1.
It is generous of you to take so much interest in our work.
2.
At one extreme we have a command economy; at the other extreme we have a free market.
3.
We have no doubt that we shall find a satisfactory market for our goods in your country.
4.
It is consumers who decide what is to be produced.
VI. Перепишите предложения и переведите их на русский язык, обращая
внимание на различное значение выделенных слов.
1.
Since there is not enough of everything, everyone – individuals and business firms need to make choices from among the things they want.
2.
He signed neither the contract nor the payment orders.
3.
You are right, as usual.
4.
Our competitors are discounting 22% of their list price, due to immediate delivery.
VII. Прочитайте текст. Письменно переведите на русский язык.
Ответьте письменно на следующие вопросы:
1.
What is personal income?
2.
What are transfer payments?
3.
Do people receive all incomes earned in the nation?
*****
as a practical matter – практически, на практике
transfer payment – трансферные платежи
tax payers – налогоплательщики
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