VOCABULARY
Core
ядро
, суть; главная,
центральная
ясас, баш, мяркяз, мащиййят
Maximize
оптимизировать
Сямяряляшдирмяк
Guide
гид
, проводник;
вести
, направлять
бялядчи,
апармаг,истигамятляндирмяк
Invisible
Невидимый
Эюрцнмяйян
Return
возвращение
,
прибыль
гайытма, эялир
Return on
прибыль
(с,от)
эялир (дан
2
)
Productive
продуктивный
,
производственный
Мящсулдар
Input
ввод
, вводимый
ресурс
фактор
производства
дахили вясаит, ещтийат
Gratification
вознаграждение
мцкафат, мцкафатландырма
Save
спасать
, экономить
гянаят етмяк, хилас етмяк
Savings
Сбережения
сахлама, йыьма, топлама,
гянаят
Yield
урожай
, прибыль;
получать
прибыль
мящсул, эялир, эялир эютцрмяк,
ялдя етмяк
Consumption
Потребление
истещлак, ишлятмя, сярф етмя
Occur
случаться
,
происходить
баш вермяк
137
Underground
подземелье
;
подземный
Йералты
Miner
Шахтер
Шахтачы
Safe
безопасный
Тящлцкясиз
Occupation
занятие
, профессия
професийа, мяшьулиййят, вязифя
Venture
рискованное
предприятие
тящлцкяли мцяссися
Conservative
консервативный
мцщафизякар (кющнялик
тяряфдары)
Invent
изобретать
ихтира, ижад етмяк
Delivery
доставка
, поставка
чатдырма, йетирмя
Generate
производить
,
вырабатывать
щасил етмяк, йаратмаг,
истещсал етмяк
Mousetrap
мышеловка
тяля, сичан тяляси
Interest
интерес
, процентная
ставка
;
интересовать
(ся)
фаиз, фаиз гоймаг
Earning
заработок
газанж, ямяк щаггы
Lender
заимодавец
,
кредитор
кредитор, борж верян
Lending
ссуда
, заем, кредит
истиграз, борж (пул), кредит
Entail
влечь
за собой,
вызывать
юз цзяриня эютцрмяк
Core aim
центральная
,
главная
цель
ясас мягсяд
Invisible hand
невидимая
рука
эюрцнмяйян ял
Put bluntly
Грубо
говоря
кобуд десяк
Take risks
рисковать
, брать на
себя
риск
риск етмяк, риски юз цзяриня
эютцрмяк
Risk taking
риск
, принятие
риска
рискли, тящлцкяли
A savings and
loan
association
кредитно
-
сберегательный
союз
кредит яманят бирлийи
Go broke
терпеть
финансовый
крах
малиййя ифласына таб эятирмяк,
малиййя итэиси йашамаг
Get paid
получать
выплаты
щагг алмаг, юдяниш
On average
В
среднем
орта щесабла
Rate of return
on
уровень
прибыли
(с,от)
эялир нормасы (щарданса)
138
Exercise 1. Answer the Questions:
1.What is the core aim of economic activity in a market
economy?
2.Where are the highest profits to be found?
3.Where do the capitalists invest a part of today’s
income?
4.Why do people take risks?
5.Why do some investors prefer to invest in risky
ventures?
6.Why are people willing to pay entrepreneurs?
Exercise 2. Бурахылмыш сюзляри мятндян тапыб йериня гойун:
Заполните
пробелы словами из текста:
1.
In a market economy, profits are the _________ aim
of economic activities.
2.
Those who organize production efforts do so to
_________ their income.
3.
Their search for profits is _________ by the famous
“invisible hand” of capitalism.
4.
The highest profits are to be found in ___________
the goods and services
that potential buyers most want.
5.
Capitalists earn _________ on their efforts by
providing three productive inputs.
6.
Capitalists are willing to _____ their own personal
gratification.
7.
Instead of consuming all their ___________ today,
they save some of today’s income.
8.
They invest those _________ in activities that will
yield goods and services in the future.
9.
These future goods and services will _________
profits that can then be used.
139
10.
This money can be used to finance ___________ or
additional investment.
Exercise 3. Give the Azerbaijan and Russian equivalents of
the phrases
1.
the core aim of economic activities
2.
to try to do sth.
3.
invisible hand of capitalism
4.
to be found in producing the goods
5.
a potential buyer
6.
to earn a return on one’s efforts
7.
to save income
8.
to invest the same savings in activities
9.
to finance additional investment
10.
to make a profit
11.
to loose one’s wealth
12.
to invest in risky ventures
13.
the better delivery of old product
14.
to generate profits
15.
to invent a “better” mousetrap
16.
to require profit
17.
to generate responsibility
Exercise 4. Match the definitions of the words
1. core a. a the money that you earn for the work
that you do
2. potential
b. to produce or design smth that has not
existed before
3. savings
c. a business project or activity, especially
one that involves taking risks
4. risky
d. a person or an organization that lends
money
5. venture
e. money that you have saved, especially
in a bank
6.invent
f. the central part of an object
140
7. lender
g. that can develop into smth or be
developed in the future
8. earnings
h. involving the possibility of
smth bad happening
Exercise 5. Цч вариантдан (а, б, ж) дцзэцн оланы сечин:
Из
трех вариантов продолжения предложения (a, b, c )
выберите
правильный:
1. Those who organize production efforts do so a) to
finance consumption; b) to maximize their income; c) to
perform a dangerous job.
2.When sold, these future goods and services will yield
profits that a) lose their wealth and become poorer; b) mean the
payment for delayed gratification; c) can then be used to
finance consumption or additional investment.
3. The entrepreneur, by inventing a new product or
process, or by organizing the better delivery of old product a)
generates profits; b) provides capital by not consuming; c)
generates responsibility.
Exercise 6. Translate the text
SHARE CAPITAL AND DEBT
Capital is the money that a company uses to operate and
develop. There are two main ways in which a company can
raise capital, that is find the money it needs: it can use share
capital or loan capital,from investors. These are people or
organizations who invest in the company: theyput money in
hoping to make more money.
Share capital is contributed by shareholders who put up
money and hold shares in the company. Each share represents
ownership of a small proportion of the company.
141
Shareholders receive periodic payments called dividends,
usually based on the company’s profit during the relevant
period. Capital in the form of shares is also called equity.
A venture capitalist is someone who putsup money for a
lot of new companies.
Loan capital.Investors can also lend money,but then they
do not own a small part of the company. This is loan capital,
and an investor or a financial institution lending money in this
way is a lender. The company borrowing itis the borrower and
may refer to the money as borrowing or debt. The total amount
of debt that a company has is its indebtedness.
The sum of money borrowedis the principal. Thecompany
has to payinterest, a percentage of the principal, to the bor-
rower,whether it has made a profitinthe relevant period or not.
Security.Lending to companies is often in the form of
bonds or debentures, loan with special conditions. One
condition is thatthe borrower must have collateral or security:
that is , if the borrower cannot repay the loan, the lender can
take equipment or property, and sell it in order to get their
money back.. Thismay be anasset whichwas bought with the
loan.
Leverage.Many companies have both loan and share
capital. The amount of loan capital that a company has in
relation to its share capital is its leverage. Leverage is also
called gearing inBrE. A company witha lot ofborrowing in
relation to its share capital is highly leveraged or highly geared.
A company that has difficulty in making payments on its debt
is overleveraged.
142
It is interesting to know.
Which word? Actual /current/ present/affect/effect
Actual does not mean current or present. It means “real” or
“exact”
For ex. I need the actual figures, not an estimate
Present – ‘existing or happening now’.
For ex. How long have you been in your present job?
Current also means existing or happening now; but can
suggest that the situation is temporary:
For ex: The factory can’t continue its current level of
production.
Affect verb= to have an influence on smb /smth
For ex. Does television affect children’s behavior?
Effect noun= result, influence
For ex. Does TV have an effect on children’s behavior?
Effect verb is formal and means “to achiever produce”.
143
LESSON 19
PROFITS(continue)
The fruit of successful market competition takes the form
of profits. By introducing new goods, new technology, or new
forms of organization, or by finding new markets or new
sources of raw material, entrepreneurs can earn profits. The lure
of profits inspires alertness, creativity, judgment, and risk
taking. Similarly, workers who perform better will, all other
things being equal, get bigger raises and more promotions.
The pursuit of profits, in the two hundred years since the
industrial revolution, has changed the world in many respects. The
horse and wagon have been replaced by the railroad, the
automobile, and the airplane. The open-hearth fire has yielded to
the electric stove and microwave oven. The telephone wire and the
electromagnetic wave transmit news that previously traveled by
ship or pony. The competitive process that has brought about these
enormous changes is governed by rules that, taken collectively, are
called the market economy or the system of private property. This
system recognizes the right of each person to use his property as he
sees fit, and to keep the fruits of his labor. This leaves the worker
free to pursue the occupations for which he thinks himself or herself
best suited. It leaves the entrepreneur free to explore new forms of
production.
Despite its importance to modern economic life, competition
is not the be-all and end-all of economic activity. The modern
market economy is as much a system of cooperation as it is a
system of competition. Within the family and within the firm,
between the customer and the supplier, we cooperate to achieve our
ends. This cooperation is as vital as competition to a productive
economy.
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VOCABULARY
Fruit
фрукт
, плод
мейвя, бящря
Raw
сырье
; сыревые
(
материалы)
хаммал
Lure
приманка
тяля йеми (мяж)
жазибя
Inspire
вдохновлять
рущландырмаг,
щявясляндирмяк
Alertness
бдительность
,
внимательность
диггят, етина, илтифат,
сайыглыг, айыглыг
Creativity
творческие
способности
йарадыжылыг
габилиййяти
Perform
совершать
, действовать
ижра етмяк, фяалиййят
эюстярмяк
Promotion
продвижение
(товара; по
службе
)
ирялиляйиш, ирялилямя
(ярзаг, хидмятдя)
Pursuit
преследование
(цели)
тягиб етмя, далынжа
дйшмя, чатма
(мягсядя)
Respect
отношение
, уважение
мцнасибят, щюрмят
Replace
заменять
, замещать
дяйишмяк,
йерляшдирмяк
Hearth
очаг
ожаг (мяж) мянбя,
йува
Wave
волна
Дальа
Transmit
передавать
вермяк, ютцрмяк,
кечирмяк
Enormous
огромный
бюйцк, чох
Govern
управлять
идаря етмяк
Rule
правило
, закон
гайда, ганун
Fit
соответствовать
,
подходить
;
соответствующий
,
подходящий
йарашмаг, уйьун
эялмяк, мцнасиб
Pursue
следовать
, преследовать
излямяк, далынжа
дцшмяк
Vital
жизненно
важный
мцщцм ящямиййятли
Raw material
сырье
хаммал
Taken
взятые
вместе
бирэя эютцрцлмцш,
145
collectively
гябул едилмиш
Keep the fruits
хранить
плоды
бящрясини горуйуб
сахламаг, мцщафизя
етмяк
Leave free
оставлять
возможность
сярбяст бурахмаг
Best suited
лучше
всего
соответствующий
ян йахшы уйьун
эялян, яла
уйьунлашдырылмыш
Be-all
суть
мащиййят, мяьз
End-all
главная
цель
ясас мягсяд
Exercise 1. Answer the Questions:
1.
What form does the fruit of successful market competition
take?
2.How can entrepreneurs earn profits?
3.What do workers who perform better, get?
4.What have the horse and wagon been replaced by?
5.What has the open-hearth fire yielded to?
6.What does the system of private property recognize as
the right of each person?
7.What is the worker left free to pursue?
8.Why cannot competition be called the be-all and end-all
of economic activity?
9.Why do we cooperate?
10.
Why is cooperation vital to a productive economy?
Exercise 2. Бурахылмыш сюзляри мятндян тапыб йериня гойун:
Заполните
пробелы словами из текста:
1.
By introducing new goods or new forms of
organization entrepreneurs can _________ profits.
2.
The lure of profits ________ alertness, creativity,
judgment, and risk taking.
3.
Similarly, workers who perform better will, all other
things being ____, get bigger raises and more promotions.
4.
The pursuit of profits has changed the world in many
__________ .
146
5.
The horse and wagon have been ________ by the
railroad and the automobile.
6.
The open-hearth fire has _________ to the electric
stove and microwave oven.
7.
The competitive process has brought about these
_______ changes.
8.
This system ____ the right of each person to use his
property as he sees fit.
9.
This leaves the worker free to pursue the occupations
for which he thinks himself best __________.
10.
It leaves the entrepreneur free to __________ new
forms of production.
Exercise 3. Give the Russian and Azerbaijanequivalents of
the phrases.
1.
the fruit of successful market competition
2.
to earn profit
3.
an open-hearth fire
4.
electromagnetic wave
5.
to recognize the right of each person
6.
to keep the fruits of one’s labor
7.
to leave smb. free
8.
to explore new forms of production
9.
to be the be-all and end-all of economic activity
10.
to be a system of cooperation and competition
11.
to cooperate to achieve one’s ends
12.
to inspire creativity
13.
to perform better will
147
Exercise 4. Match the definitions of the words
1. raw
a. the act of doing smth. together or of
working together towards a shared aim
2.
alertness
b. to pass smth from one person to another
3. pursuit
c. the quality of being important
4. transmit
d. in its natural state; not yet changed,
used or made into smth, else
5. importance e. the act of following or chasing smb.
6. cooperation f. aware of smth, especially a problem or
danger
Exercise 5. Цч вариантдан (а, б, ж) дцзэцн оланы сечин:
Из
трех вариантов продолжения предложения (a, b, c )
выберите
правильный:
1. By introducing new goods or new forms of orga-
nization, entrepreneurs a) can earn profits; b) have been repla-
ced by the railroad; c) keep the fruits of his labor.
2. This system recognizes the right of each person a) to
explore new forms of production; b) to use his property as he
sees fit; c) to travel by ship or pony.
3. The modern market economy is as much a system of
cooperation as it is a) the electric stove and microwave oven; b)
the form of profits; c) a system of competition.
Exercise 6. Жцмляляри Инэилис дилиня тяржцмя един
Переведите
предложения на Английский язык
1. Сходным образом рабочие, которые лучше рабо-
тают
, станут, при прочих равных составляющих, получать
более
высокие прибавки.
2. Приманка, которую представляет собой прибыль,
пробуждает
внимание, творческие способности, способ-
ность
к суждению и принятию рискованных решений.
3. Плоды успешной рыночной конкуренции обретают
форму
прибыли.
148
4.
Эта система признает право каждого человека исполь-
зовать
свою собственность так, как он считает необходимым.
5. Огонь в открытом очаге уступил место элект-
рической
плите и микроволновой печи.
6.
Эта система предоставляет рабочему свободу искать зан-
ятие
, к которому, как он полагает, он более всего приспособлен.
7. Эта система дает предпринимателю возможность
исследоваь
новые способы производства.
8. Телефонный провод и электромагнитная волна
передают
новости, которые до этого путешествовали с по-
мощью
кораблей или лошадей.
9. Несмотря на свою важность для современной
экономической
жизни, конкуренция не является сутью и
конечной
целью экономическойдеятельности.
10.
Эта кооперация столь же жизненно важна для
продуктивной
экономики, как и конкуренция.
***
1.
Ейни цсулла йахшы ишляйян ишчиляр даща йцксяк ялавя
эялир алажаглар.
2.
Мянфяяти юзцндя ифадя едян жялбедижилик, йарадыжылыг
габилиййяти, рискли гярарларын мцзакиря едилмяси вя гябулу
габилиййяти, мараг ойадыр.
3.
Мцвяффягиййятли базар рягабятинин бящряси мянфяят
формасыны ялдя едир.
4.
Бу систем щяр бир инсанын юз мцлкиййятиндян юзцнцн
истядийи кими истифадя етмяк щцгугунун важиблийини тясдиг едир.
5.
Ачыг ожагда олан од юз йерини електрик плитясиня вя
микродальалы собайа верди.
6.
Бу систем ишчийя юзцнцн щесаб етдийи, даща чох
вярдиш етдийи иш ахтармаг цчцн сярбястлик верир.
7.
Бу систем сащибкара истещсалын йени цсулларыны
ахтарыб тапмаг имканы верир.
8.
Телефон мяфтили вя електромагнит дальасы йени
хябярляр верир, щансы ки, индийядяк эямилярин йахуд атларын
кюмяйи иля мейдана эялирди.
9.
Мцасыр игтисади щяйат цчцн важыб олмасына бахмайараг
рягабят игтисади фяалиййятин мащиййяти вя сон мягсяди дейилдир.
149
10.
Бу кооперасийада рягабят кими мящсулдар игтис-
адиййат цчцн щяйат гядяр важибдир.
It is interesting to know.
Describing organizations
An organization may be a business, a company, an
institution, a club or a group of people who work together for a
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