81.2.-3-923
, 2010
PART I
ECONOMY
UNIT 1 INTERNATIONAL, BRITISH AND BELARUSIAN TRADE
TEXT 1
Word List
| Nouns | Adjectives | Verbs |
| currency | artificial better off diverse , | consume plumper retaliate , |
I. Give the words with the similar meaning to the following:
basic, vacation, produce, consume, foreign, border, global, involve, various, funds, nation, erect
II. What are the opposites?
Import, pay, international, difference, minimum, better off, consumer, best, local, enter, decline.
III. Using a dictionary add as many words as possible to the table.
| Verbs | Adjectives | Nouns |
| use | ||
| investment | ||
| produce | ||
| consume | ||
| global | ||
| various | ||
| diverse | ||
| nation | ||
| economy |
IV. Look through the text and find international words.
What Is International Trade?
When Honduras exports bananas to Switzerland, they can use the money they earn to import Swiss chocolate or to pay for Kuwaiti oil or a vacation in Hawaii. The basic idea of international trade and investment is simple: each country produces goods or services that can be either consumed at home or exported to other countries.
The main difference between domestic trade and international trade is the use of foreign currencies to pay for the goods and services crossing international borders. Although global trade is often added up in U.S. dollars, the trading itself involves various currencies. Japanese TV set is paid for in euro in Berlin, and German cars are paid for in U.S. dollars in Boston. Indian tea, Brazilian coffee, and American films are sold around the world in currencies as diverse as Turkish liras and Mexican pesos.
Whenever a country imports or exports goods and services, there is a resulting flow of funds: money returns to the exporting nation, and money flows out of the importing nation. Trade and investment is a two-way street, and with a minimum of trade barriers, international trade and investment usually makes everyone better off.
In an interlinked global economy, consumers are given the opportunity to buy the best products at the best prices. By opening up markets, a government allows its citizens to produce and export those things they are best at and to import the rest, choosing from whatever the world has to offer.
Some trade barriers will always exist as long as any two countries have different sets of laws. However, when a country decides to protect its economy by erecting artificial trade barriers, the result is often damaging to everyone, including those people whose barriers were meant to protect. The Great Depression of the 1930s, for example, spread around the world when the United States decided to erect trade barriers to protect local producers. As other countries retaliated, trade plumpered, jobs were lost, and the world entered into a long period of economic decline.
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V. Answer the following questions to the text:
1. What is the basic idea of international trade?
2. What is the main difference between domestic and international trade?
3. How can you consider trade barriers?
4. What is the difference between trade and investment?
5. What were the consequences of the Great Depression of the 1930s?
VI. Find key words, phrases and topical sentences which best express general meaning of each paragraph.
VII. Speak about international trade.
TEXT 2
