3. Read the text again and find the word that means:
1) Money or property used to produce wealth. (p.1)
2) The amount of goods, services, energy used in a particular period of time. (p.1)
3) The amount of money something is worth. (p.3)
4) Something that has been produced in order to be used or sold. (p.3)
5) Continuing to be successful for a long time. (p.4)
4. Fill in the gaps with the appropriate words:
Property statutory obligation
balance sheet retailer
1) State bank of Germany has … to fight inflation.
2) The furniture company blamed … on poor retail trade.
3) VDA company has a healthy … with a good amount of money.
4) … prices have increased recently.
5) The new law would hold dealers of certain firms … responsible for their deeds.
6) Importers of cars have to get an import … which is never granted.
7) Johns & Marshal Co., a home furnishing …, said May sales rose 10 %.
8) Some companies … high-quality childcare facilities.
9) NYT has completed its conversion from a partnership to ….
10) The two insurance companies agreed to form ….
5. Choose the correct form of the verb:
1) We … equipment yet.
a. did not order b. haven’t ordered c. hasn’t ordered
2) Don’t worry, the documents … by messenger soon.
a. will be delivered b. were delivered c. had been delivered
3) I …news last night, I wrote my report to the conference.
a. hasn’t watched b. didn’t watch c. wasn’t watching
4) They … the contract about the merger of two companies now.
a. were preparing b. is preparing c. are preparing
5) This patent … only in new department.
a. gives b. is given c. was being given
6. Put the questions to the underlined words:
1) The quantity of firms was fixed by the government last month. (When…?)
2) The producer will be satisfied by this price. (Who…?)
3) They live not far from the Commercial Banking Division. (Where…?)
4) Our secretary has already sent these contracts to our subsidiary in Kyiv. (What…?)
5) Norton is an economist in our new department. (Who…?)
7. Write the letter in the appropriate order, use notes in box to complete the letter:
You work at the Organizing Committee of International Finance Conference which will take place in Kyiv, July 25-30, 2006. Write the letter of invitation to the participants of the conference.
Zepter Inc., Kyiv branch,
63, Volodymirska Str,
2) Yours sincerely,
3) June 2nd, 2006
4) United States Department of Commerce
International Finance Conference
5) Dear Professor Ivanov:
1. Translate the marked part of the text:
(1) In the past years, interest in privatization has been growing in developed and developing countries. There are many reasons for this, but the most important have to do with a combination of growing pressures on public budgets and mounting evidence that the competitive discipline of private markets increases efficiency, producing greater quality at a lower cost.
(2) The popularity of privatization has different hopes that its proponents have for it. Many proponents emphasize efficiency. They see privatization as a means to increase output, improve quality, and reduce unit costs. Others hope it will curb the growth of public spending and raise cash to reduce government debt. Others like its general emphasis on private initiative and private markets as the most successful route of economic growth and human development.
(3) Privatization is the transfer of assets and service functions from public to private hands. It includes, therefore, activities that range from selling state-owned enterprises to contracting out public services with private contractors. The issues related to privatization are many. Besides broad issues of economics, privatization raises issues of finance, property rights and law, tax structure, and especially politics.
(4) Worldwide interest in reducing the role of the public sector in national economies is a phenomenon of the past four to six years. The growing movement to privatize industries, services, and agencies and the changed conception of government's role are products of pragmatism: the state-owned sector is not working, and enormous subsidies to maintain money-losing enterprises and services only get bigger. The conviction is growing that private entrepreneurs can manage industries more effectively and operate services more efficiently and at lower cost to the public than can the government.
2. Read the text and choose the correct answer:
1) What is the most important reason for growing interest in privatization?
a. The most important reason for growing interest in privatization is the instability of the world economy.
b. The most important reason for growing interest in privatization is the growing pressures on public budgets.
c. The most important reason for growing interest in privatization is the decreased efficiency of the private markets.
2) How do many proponents see privatization?
a. Many proponents see privatization as a means to increase output, improve quality, and reduce unit costs.
b. Many proponents see privatization as a means to decrease output and increase unit costs.
c. Many proponents see privatization as a means to attract new investors.
3) What is privatization?
a. Privatization is the transfer of capital and service functions from public to private hands.
b. Privatization is the transfer of assets and service functions from private to public hands.
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