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As we have learnt, firms appear when team effort can produce goods and services at a lower cost than an individual producer. This occurs because of the increased efficiency that may be gained when labour and capital are coordinated by managers’talents. Let us consider the varying sizes of firms and the advantages and disadvantages of various ways that the firms can be organized.
The most efficient size for firms (the size that performs at the lowest cost of production) varies greatly. The most efficient scale of production (1) can be as small as a hot dog stand on a street corner or as large as a General Motors assembly plant.
A firm’s scale of production affects the amount of capital equipment it needs. Owners of firms that require large-scale production (2) have to make large expenditures on buildings, machines, raw materials, etc. These expenditures can amount to millions of dollars. The larger the scale of production, the larger the amount of funds which the owners need to buy capital equipment.
Generally, there are three categories of ownership (3): a proprietorship (4), a partnership (5), and a corporation.
A proprietorship is a firm that has a single owner who is legally responsible for all the debts of the firm. More often than not, the sole proprietor (6) also works in the firm as a manager or an employee.. Most single-owner firms are small. Many small retail establishments are proprietorships. The primary disadvantage of the proprietorship is that the welfare of the firm largely depends on one person. Proprietorships are the dominant form of business organization in the American economy.
A partnership has two or more co-owners. These partners share financing of capital investments and profits. Partnerships suit well to lines of team production that involve creative or intellectual skills, areas in which monitoring is difficult. The partnership also has certain limitations. Individual partners cannot get their share of the partnership without the approval of the other partners. The partnership needs costly reorganization each time a partner dies or sells its share. Each partner is legally responsible for all the debts to the full extent of the individual partner’s wealth. Because of these limitations partnerships constitute a small percentage of firms and business revenues in the US economy.
Corporations. While corporations are not the most numerous form of business organization in the United States, they account for nearly 90% of total business revenues. What is a corporation? Corporation is a firm which belongs to one or more individuals who hold shares of stock (7) that indicate ownership but who have limited liability (8).
Пояснения к тексту:
1. scale of production масштаб производства;
2. large-scale production крупносерийное производство
3. ownership собственность, право собственности
4. proprietorship единоличное право собственности, единоличное
частное предприятие
5. partnership товарищество
6. a sole proprietor единоличный частный предприниматель
7. shares of stock aкции
8. limited liability ограниченная ответственность
V. Ответьте на вопросы письменно:
1.
What occurs when good managers coordinate labour and capital?
2.
What are the main categories of ownership?
3.
Which form of business organization accounts for the greatest
portion of the total business revenue in the US economy?
Контрольная работа № 3
Изучите следующие разделы грамматики по учебнику:
1.
Видо-временные формы глагола. Пассивный залог: формы Indefinite (Present, Past, Future); Continuous (Present, Past); Perfect (Present, Past, Future).
2.
Функции глаголов to be, to have, to do.
3.
Неопределенная форма глагола. (the Infinitive)простые и сложные формы (Passive, Perfect). Функции инфинитива в предложении:а) подлежащего; б) части сказуемого; в) дополнения; г) определения; д) обстоятельства.
4.
Обороты, равнозначные придаточным предложениям, объектный инфинитивный оборот, субъектный инфинитивный оборот.
5.
Грамматические функции и значения слов that, one, it.
6.
Различные значения слов:as, because, because of, due to, for, since, both... and, either... or, neither... nor.
Вариант I
I. Перепишите следующие предложения, определите в каждом из них
видо-временную форму и залог глагола-сказуемого. Переведите
предложения на русский язык.
1.
The members of the board of directors are nominated by the management.
2.
The need for efficiency in management has been magnified.
3.
A large share of income will be given to schools.
4.
All the stocks of the company were held by family members.
II. Перепишите следующие предложения и переведите их на русский язык,
обращая внимание на различное значение слов to be, to have, to do.
1.
A partnership is an agreement between two or more individuals to own and operate a business together.
2.
The owners are usually the managers of partnerships.
3.
The only feature all business has in common in a free enterprise economy is the search for profit.
4.
The men who currently occupy positions at the top have to learn that an arsenal of new technology makes it possible to talk on the phone, receive faxes, look through newspapers, and use computers at the same time.
III. Перепишите предложения и переведите их на русский язык, обращая
внимание на функцию инфинитива.
1.
If a single owner plans to spend the entire income of his firm for his own personal use, he will not want to use the corporate form.
2.
There is plenty to be done.
3.
To understand reports of market behaviour you have to study economics thoroughly.
4.
Representatives of consumers need to be present in decision–making procedures.
IV. Перепишите и письменно переведите на русский язык следующие
предложения. Помните, что объектный и субъектный инфинитивные
обороты соответствуют придаточным предложениям.
1.
We expect the contract to be signed immediately.
2.
We haven’t received the shipment which was supposed to arrive two weeks ago.
3.
I want you to go to the office and speak to the manager about it.
4.
He proved to be a very experienced worker.
V. Перепишите и письменно переведите на русский язык следующие
предложения, обращая внимание на разные значения слов it, that, one.
1.
In middle-income countries the income per head is 840 pounds, that is in countries like Thailand and Brazil.
2.
A scarce resource is one for which the demand at zero price would exceed the available supply.
3.
It is likely that unemployment figures will rise.
4.
That is one possibility, but there is another one: unemployment benefit can reduce incentives to work.
VI. Перепишите предложения и переведите их на русский язык, обращая
внимание на различное значение выделенных слов.
1.
Since all firms are privately owned they, try to make the largest profits possible.
2.
Because these people help to coordinate the company’s advertising program with its sales program, they must have an aptitude for both advertising and management.
3.
Many firms are investing funds because they expect high sales.
4.
The economic environment alters as the economy moves into a recession.
VII. Прочитайте текст. Письменно переведите на русский язык.
Ответьте письменно на следующие вопросы:
1.
What is national income?
2.
What does the nation’s income consist of?
3.
What is government income?
*******
yardstick – критерий
proprietors – частные предприниматели
flow concept – изменяющиеся понятия
gross national product (GNP) – валовой национальный продукт
The Nation’s Income
What is national income?
National income in its broadest sense measures the total activity of a country over a period of time. This yardstick calculates the current flow of incomes earned by such owners of resources as workers, proprietors, and business firms; it is a flow concept and not a catalog of accumulated wealth. Income is not a measure of the value of oil in the ground, but of the gallons of oil pumped, refined, and sold to the consumer during a current year.
National income differs sharply from government income, the amount collected by the Internal Revenue Service to pay for federal expenditures. The income of the federal government, large as it is, represents only one small share of the total economic effort of the nation. Government income is a part of the national income.
The nation’s income of all final goods and services produced during a given period of time is often referred to as the gross national product (GNP). It is the nation’s output calculated at market prices and provides the most popular yardstick of economic performance. Consumers as a whole cannot possibly buy more than total output even if their incomes were to increase overnight, like manna from heaven.
Вариант II
I. Перепишите следующие предложения, определите в каждом из них
видо-временную форму и залог глагола-сказуемого. Переведите
предложения на русский язык.
1.
Markets can be traced back in history to the earliest periods of mankind and have been rearranged over the centuries to fit changing economic conditions.
2.
Only when the opposition is led by very wealthy men it has a reasonably good chance of victory.
3.
The maximum tax will be effectively reduced by more than 16 percent.
4.
All income, losses and deductions were carried directly to the individual tax return for each shareholder.
II. Перепишите следующие предложения и переведите их на русский язык,
обращая внимание на различное значение слов to be, to have, to do.
1.
A single owner of a business is responsible for the entire activity of his firm.
2.
The stockholders have limited liability and are not responsible for corporate actions.
3.
When they did not like the management they held a meeting and voted for a change.
4.
It all depends on the preferences of the society that has to make this choice.
III. Перепишите предложения и переведите их на русский язык, обращая
внимание на функцию инфинитива.
1.
Planners* are likely to underproduce some items as they cannot predict changes in demand.
2.
It is important to devote scarce resources to improving the environment.
3.
To avoid this the computer warns the operators about excessive purchasing.
4.
In the event of a delay in delivery of the equipment the seller is to pay the buyer a penalty.
* planners – сторонники плановой экономики, плановики
IV. Перепишите и письменно переведите на русский язык следующие
предложения. Помните, что объектный и субъектный инфинитивные
обороты соответствуют придаточным предложениям.
1.
There seems to be a great difference between these two samples.
2.
He happened to be at the office at that time.
3.
I know her to be a very skilled worker.
4.
Communication is supposed to have no limits nowadays.
V. Перепишите и письменно переведите на русский язык следующие
предложения, обращая внимание на разные значения слов it, that, one.
1.
You have an annual income: that is what you earn in a year.
2.
It’s commonly asserted that high tax rates reduce the incentive to work.
3.
Investors want management to make financial decisions that will boost sales, profits and returns on their investments.
4.
A good manager is one who can persuade people that his way is right.
VI. Перепишите предложения и переведите их на русский язык, обращая
внимание на различное значение выделенных слов.
1.
We have to raise our price for item because of increased raw material costs.
2.
He did as he was requested.
3.
I find your position absolutely necessary for the agency.
4.
The boss is either at the office or in the bank.
5.
I have lived in this city since we moved here three years ago.
VII. Прочитайте текст. Письменно переведите на русский язык.
Ответьте письменно на следующие вопросы:
1.
What is capital in an economic discussion of productive factors?
2.
What is capital to most people?
3.
Is capital an elusive concept in the classification of productive factors?
*****
share – акция
boom town – популярный, быстроразвивающийся город
to stay alive – остаться в живых
capital good – средство производства
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