1
Read the text
Goods which are wanted for their own sake, because they provide immediate satisfaction, are described as consumer goods.
Capital goods are not wanted for their own sake, but because they help firms to increase their outputs of consumer goods.
Whether a good is classed as a consumer good or a capital good sometimes depends upon its use. A sewing machine used only in the home, for making and repairing clothes is a consumer good. A sewing machine used in a clothing factory is a capital good.
Businesses usually describe their capital as eitherfixed capital orworking capital.
Fixed capital is long lasting and consists of things which do not change their form in the process of production. A manufacturing firm would describe its factory buildings and machinery as fixed capital. For a farmer, fixed capital would comprise assets such as barns, cowsheds, milking machines and tractors.
Working capital includes those things which are 'used up' in the process of production; that is, they are changed into some other form. A farmer's seeds and fertilizers and a furniture maker's supplies of timber are good examples of working capital. Firms also include in their working capital the stocks of money they hold for 'running expenses' (e.g. buying materials and paying wages).
I. Answer these questions:
1. What is described as consumer goods?
2. What do capital goods help firms to increase?
3. What does the class of goods depend on?
4. Which groups is capital classed in?
5. What is included in working capital?
II. Put the verbs in brackets in Continuous Tense-forms and translate the following sentences.
1. A branch of this company (to produce) these goods.
2. What company you (to work) for?
3. When I came, they (to interview) a young applicant.
4. A group of businessmen (to leave) for London tomorrow.
5. Where Mr. Snow (to go) on business?
III. Complete the sentences using these words:
working, running, goods, fixed, manufacturing
1) expenses include those for buying materials, paying wages etc.
2) Capital help firms to increase their outputs of consumer goods.
3) One of the types of industries is industry.
4) capital includes things which are used in production.
5) capital consists of things which do not change their form in the process of production.
IV. Translate the 1, 2 and 3 abstracts of the text into Russian.
V. Retell the text in English and give your opinion.
2
Read the text.
In economics, the word investment does not mean buying shares on the Stock Exchange or putting money into a savings account. The word is used to describe the production of real capital goods. Investment takes place when capital goods are produced. Gross investment is the total output of capital goods during a given period- of time, usually one year.
But capital goods are always wearing out or becoming out of date. Some part of the total output of capital goods, therefore, will be required to replace the worn-out and outdated equipment.
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Depreciation describes the extent to which a stock of capital loses its value owing to wear and tear and obsolescence.
Net investment is the annual increase in the total stock of capital. This will obviously be less than gross investment, because some of the new capital will be required to replace the outdated and worn-out capital. Therefore Gross investment minus Depreciation = Net investment.
The rate of net investment in a country is a very important item. It tells us the rate at which that country's stock of capital is increasing. Future productivity depends very much on the present rate of net investment.
I. Answer these questions:
1. When does investment take place?
2. What is gross investment?
3. How is the annual increase in the total stock of capital described?
4. Is net investment more or less than gross investment?
5. What does future productivity depend on?
II. Put the verbs in brackets in Continuous Tense-forms and translate the following sentences.
1. When they returned we (to work) over the new business plan.
2. What kind of job you (to look) for?
3. Our accountant (to make) trial balance tomorrow morning.
4. Is Mrs. Brown in? No, she (to speak) to the deputy director.
5. Tomorrow at five they (to discuss) capital investment.
III. Complete the sentences using these words:
investment, gross, goods, depreciation, productivity
1) Future depends very much on the present rate of net investment.
2) In economics, the word is used to describe the production of real capital goods.
3) investment is the total output of capital goods during a given period - of time.
4) is the extent to which a stock of capital loses its value owing to wear and tear and obsolescence.
5) Capital are wearing out or becoming out of date.
IV. Translate the 1 and 2 abstracts of the text into Russian.
V. Retell the text in English and give your opinion.
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- Raymond Murphy English Grammar in Use. Second Edition. Cambridge, University Press, 2012.
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- "Speakout" 2010 - 2014.
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1. : [ ]. URL:http://www.englishhobby.ru/ ( : 12.09.2014).
2. : [ ]. URL:http://www.hidden-england.netfirms.com/ ( 25.09.2014).
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