Английский для экономистов (учебник английского языка)

We need to take firm action, now, on the reduction in our market share – before matters get worse.

11. In the course of the next day or so, we shall be taking steps to put our plans into action.

12. For this job, we’re looking for someone with a go-ahead attitude, a self-starter, someone who’s prepared to take and maintain the initiative.

13.

Ex. 10. Look at the following Latin words. They may be helpful in your work with the texts on Economics and Business.

e.g. exempli gratia for example

i.e.

id est that is

etc. et cetera and so on

viz. vide licet namely

c circa about, around (time)

v vide see

et al et ali and others

per se in itself

qua as

vice versa the reverse

ad hoc for this particular purpose

vs versus opposed

via 1.through

2.with the help of

per capita per head

ceteris paribus other things equal

ad valorem according to value

Ex. 11. What do the following words have in common and what do they differ in?

Matter, problem, dilemma, trouble, alternative, predicament, difficulty.

Ex. 12.Translate into Russian in written form.

In 1776, the Scottish professor of philosophy, Adam Smith, published The Wealth of Nations. In this book, the first systematic study of capitalism, Smith described his principle of the “invisible hand”. This principle states that each person, pursuing his or her self-interest without interference by government, will be led, as if by an invisible hand, to achievethe best good for society.

Self-interest drives people to action, but alone it is not enough. People must understand the effects of their decision and their economic well-being. They must think rationally if they are to make the right decisions.

Because of this, economists long ago introduced the concept of economic man. This notion holds that each person is motivated by economic forces. In other words, each person will always attempt to obtain the greatest amount of satisfaction for the least amount of sacrifice or cost.

This satisfaction may take the form of greater profits for a businessperson, higher wages or more leisure time for a worker, and greater pleasure from goods purchased for a consumer.

Of course, these assumptions are not entirely realistic. People may be motivated by forces other than self-interest. Nevertheless, the idea of economic man does deserve as a reasonable approximation of the prevailing pattern of economic behaviour in a capitalistic society.