Unit 3

Theory of Demand

Грамматика :

1. Причастие II в постпозиции

2. Глаголы, выражающие долженствование

3. Временные формы глаголов и причастий I и II ( повторение)

Задание на дом № 1

1. В разделе «Грамматика и словообразование» проработайте § 4 и 8.

2. Переведите следующие предложения на русский язык, обращая внимание на способы выражения долженствования:

As the price of one good rises, the consumer has to buy another good, whose price has not risen.

Government regulations should be in the interests of society.

The buyers have to reconcile what they want to do and what the market will allow them to do.

We ought to answer the question what should be done now to prepare managers on whom we'll be able to rely in the year 2010.

A foreign company in Great Britain must give certain information about itself to the government offices. It must also write its name and country of registration on all its documents.

The limited supply of energy in some sectors of the US economy is to lead to changes in the economic situation as a whole.

Making a decision, the economist should rely on all the information that he can find.

You ought to have the firm re-registered as soon as possible or you may have trouble.

3. Переведите следующие предложения на русский язык, обращая внимание на употребление причастия в постпозиции.

The economist is investigating how an increase in the price of one good influences the quantity of another good demanded.

When all goods are normal, a reduction in income will reduce the quantity demanded of all goods.

As incomes rise, the quantity of food bought will rise but only a little.

Demand is the quantity needed of a good.

As the quantity supplied increases with an improvement in technology, firms seek to produce more at the same price level.

Production is the entire quantity of the goods produced.

The quantity demanded is influenced by changes in consumers' incomes.

4. Переведите текст Theory of Demand и отработайте его чтение.

5. Найдите в тексте:

1) причастия II в постпозиции;

2) глаголы, выражающие долженствование.

TEXT

Theory of Demand

Consumer demand is the quantities of a particular good that an individual consumer wants and is able to buy as the price varies, if all other factors influencing demand are constant.

That is, consumer demand is the relationship between the quantity demanded for the good and its price. The factors assumed constant are prices of other goods, income, and a number of noneconomic factors, such as social, physiological, demographic characteristics of the consumer in question (о котором идет речь).

The theory of demand is based on the assumption that the consumer having budget constraint seeks to reach the maximum possible level of utility, that is, to maximize utility, but he usually prefers to obtain more rather than less. The consumer has to solve the problem of choice. Provided he is to maintain a given level of utility, increases in the quantity of one good must be followed by reductions in the quantity of the other good. The consumer has to choose the specific goods within the limits imposed by his budget.

The concept of marginal utility is of great importance for solving the utility maximization problem. The marginal utility of a good is the additional utility obtained from consuming an additional unit of the good in question. The marginal utility from consuming a good decreases as more of that good is consumed. The income should be allocated among all possible choices so that the marginal utility per dollar of expenditure on each good is equal to the marginal utility per dollar of expenditure on every other good.

A price increase will result in a reduction in the quantity demanded. This relationship between the quantity demanded of a good and its price is called the law of demand. As the marginal utility from each additional unit of the good consumed decreases, the consumer will want to buy more of this good only if its price is reduced.

Market demand is the quantities of a good that all consumers in a particular market want and are able to buy as price varies and as all other factors are assumed constant. Market demand depends not only on the factors affecting individual demands, but also on the number of consumers in the market. The law of demand also works with market demand.

Словарный минимум к тексту

consumer demand – потребительский спрос

particular adj конкретный, частный, отдельный

vary v меняться, изменяться, варьировать

constant adj постоянный, неизменный; непрерывный

that is – то есть

relationship и отношение; взаимоотношения; связь

assume v предполагать, допускать

assumption и предположение, допущение

number и количество, число

a number of – некоторое количество, ряд

budget constraint – бюджетное ограничение (различные наборы товаров, которые могут быть куплены при данном размере дохода по средним рыночным ценам)

budget n бюджет

maximum n максимум, максимальное значение, высшая степень

maximize v доводить до максимальной величины, увеличивать до предела, максимизировать

maximization n максимизация

utility n полезность

marginal utility – предельная (маржинальная) полезность (дополнительная полезность, получаемая от потребления дополнительной единицы товаров или услуг)

prefer v (smth to smth) предпочитать(что-л. чему-л.), отдавать предпочтение

obtain v получать, добиваться

rather than – а не…; скорее (что-то, чем что-то другое)

choice n выбор, отбор

choose (chose, chosen) v выбирать; предпочитать

provided cj часто

provided that при условии что, в том случае если, если

maintain v поддерживать, сохранять

follow v (smb/smth) следовать (за кем-л., чём-л.), придерживаться (чего-л.), соблюдать(что-л.) within prep в, в пределах, в рамках

additional adj дополнительный, добавочный

unit n единица

per на в (указывает на количество, приходящееся на определенную единицу)

per capita, per head – на человека, на душу населения

expenditure n расходы; сумма, израсходованная для оплаты товаров или услуг

result in v (smth) приводить к (чему-л.), кончаться(чем-л.)

market demand – рыночный спрос, требования рынка; общий объем товара, который требуется по конкретной цене в конкретный момент времени

depend v (on, upon) зависеть (от); обусловливаться

affect (smth) воздействовать, влиять (на что-л.)

Аудиторная работа № 1

6. Переведите следующие прилагательные

а) с отрицательными приставками:

ineffective – effective (эффективный); inactive – active (активный); irregular – regular (регулярный); improper – proper (правильный);

б) образованные от существительных при помощи суффиксов – fid (обозначает наличие качества) и – less (обозначает отсутствие качества):

landless, fruitful, fruitless, endless, resourceful

7. Напишите русские эквиваленты следующих интернациональных слов. Сгруппируйте слова по частям речи.

reserve, traditionally, to finance, industrialization, to exploit, textile, politician, quota, strategy, exports, imports, tariff, protectionism, statistics, licence, energy, dynamic, equivalent, dividend, subsidy, corruption, specific, special, partner, to calculate, calculation, migration, investment, rent, real, indicator, privatization, standard

8. Назовите номера предложений, в которых причастие в функции определения употреблено в постпозиции.

1. Reductions in income increase the quantity demanded if a good is inferior.

2. There is an assumption that the consumer chooses the good having the greatest utility for him.

3. The entire quantity produced does not have to be sold at once.

4. The utility depends on the quantities of the goods consumed.

5. Marginal utility is the utility obtained from that unit of a good that a consumer thinks is important for him to obtain.

6. As consumers prefer more to less, an increase in the amount of a good bought increases utility.

7. The consumer will always prefer buying the good that gives him more marginal utility per dollar spent.

9. Переведите следующие предложения на русский язык, обращая внимание на глаголы, выражающие долженствование.

1. The consumer has to decide by how much the good A is preferred to the good B.

2. A great increase in the supply of money in the form of bank notes and bank credit is to result in inflation, that is, a rise in the general level of prices.

3. If prices change, the consumer will have to change the quantities demanded if he is to maintain utility at the same level.

4. Not all partners in a firm must take an active part in management.

5. The economist should be able to say which factors affect the allocation of resources for producing a particular good.

6. He ought to take a more active part in decision making on the exports strategy of the company.

7. Provided additional inputs are to be obtained, producers must have smaller risks of a fall of price between the time of making a decision and the time of selling their products.

8. Having the aim to maximize profit, the producer should make a decision how to reduce inputs.

10. Замените русские слова в скобках их английскими эквивалентами.

1. Large quantities of one good may be needed for compensating small reduction in the other good if a (постоянный) level of (полезности) is (должен поддерживаться).

2. In a free market it (предполагается) that every producer seeks to (максимизировать) profits by selling the product at the highest possible price, and every buyer seeks to (максимизировать полезность) by obtaining the product at the lowest possible price.

3. Consumer demand is not the quantity that the consumers would like to have but the quantity that they want to pay for, (то есть), demand in the economic sense (смысл).

4. Economic system is the (конкретный) way in which the economic activity in a country is organized, such as capitalism or socialism.

5. The model of consumer (расходы) on different goods (зависит от) the level of consumer income.

6. Increases in the quantities demanded typically (изменяются) with different goods as incomes rise.

7. Energy demand will increase at about 3.6 percent (в год) (в) the coming ten years in the USA

11. Выберите правильную форму причастия из предлагаемых в скобках вариантов.

1. Market is an (organizing / organized) group of buyers and sellers of a particular good who are in contact with each other and who know the level of demand and supply so that there is only one price (calling/called) the market price.

2. Changes in prices of the products (producing/produced) with the same resources will change the supply.

3. The economist is interested in factors (affecting/affected) the allocation of resources for producing particular goods.

4. Excess supply is a situation in which, at a certain price, the quantity of a particular product (demanding/demanded) by buyers is less than the quantity (supplying/ supplied) by industry.

5. Improvements in technology may be a factor (leading to / led to) changes in supply

6. At constant prices, an increase in income leads to an (increasing/increased) consumption.

7. Every day in thousands of markets, consumers show which goods they prefer (making/made) practical choices and (spending/spent) money on some particular goods rather than others.

Задание на дом № 2

12. Вставьте в предложения следующие слова и словосочетания в соответствующей форме:

choice, to obtain (2), number, that is, within (2), to maintain, constant, rather than, per (4), provided, to result in, to assume, to choose

1. We assume that the consumer prefers to have more of a good….. less.

2… the good whose price has risen is a normal good, the economist can… that the demand for it will fall.

3. A constant level of utility is… through correct choice of goods or services that can be… at one time.

4. The lower price….. additional demand.

5. People must often make a… between two or more goods. They usually… the good with the highest utility… the limited budget, choose the cheapest good.

6. Income is usually counted… year, but sometimes also… month or even… week.

7. The man having a credit card has to pay… a certain… of days for everything that he has bought with its help during the month.

8. We do not assume that… acre productivity will remain… as modern agricultural technology allows farmers to… better results.

13. Образуйте подходящее по смыслу причастие I или причастие II от глаголов, данных в скобках. Переведите предложения на русский язык.

1. The theory of consumer choice (to base) on individual utility shows how different tastes result in different demands for the same goods.

2. The theory of supply assumes that the producer (to depend) on a production technology wants to maximize profit.

3. A subsidy is money (to give) by a government to some producers, for example farmers, to help them to produce at a low price the goods or services (to need) by the public.

4. In a dynamic economy, the factors (to influence) the level of demand and supply, are changing.

5. Expenditure is an amount of money (to spend).

6. The price of land (to call) rent depends on supply and demand.

14. Вставьте пропущенные предлоги, где это необходимо.

1… Russia, real income… capita fell… 57 percent… 1998.

2. People must keep their purchases… their incomes, often making hard choices… small budgets.

3. The consumption… ice-cream… Russia is… five times lower than… the USA

4. The sales… the Hungarian drug maker Gedeon Richter fell… $78 million… 1997… $40 million… 1999 as the incomes… Russian people fell dramatically… the crisis… 1998.

5. An increase… the price… an input will result… a reduction in the quantity… that input demanded.

6. How much can be produced… week… each industry depends… how workers are allocated… the industries.

7. The economist is to explain what demand is and how it affects… the market price and quantity.

8. It is not always easy to explain why consumers prefer one good… another, but producers have to examine consumer preferences carefully as they depend… them.

9. We need… a number… elementary things… life, such as food, water and housing. It is veiy difficult to decrease… their consumption when the price increases, that is, demand… them is inelastic.

Аудиторная работа № 2

15. а) Ответьте на вопросы к тексту Theory of Demand.

1. What is consumer demand?

2. What factors influencing consumer demand are assumed constant?

3. What is the principal assumption of the demand theory?

4. Which choice does the consumer have to make?

5. What is marginal utility?

6. How should the consumer allocate his income?

7. How does the marginal utility change as the consumption of a good increases?

8. In what way is the marginal utility connected with price?

9. What is market demand?

10. In what way does market demand differ from individual demand?

б) Подумайте и скажите:

1. In what situation can a buyer prefer to have less rather than more? Has it ever happened to you?

2. Supply an example of marginal utility decreasing as the quantity consumed grows.

16. Выберите подходящее по смыслу слово из предлагаемых в скобках вариантов.

1. An increase in food prices greatly (affects /follows) consumer real income because food is a large part of consumer {expenditure/ budget).

2. An increase in the price of the good j increases the quantity demanded of the good; when the two goods are (substitutes / normal) but reduces the quantity demanded of the good i when the two goods are (additional /complements).

3. We (prefer/ assume) that the consumer always decides that one good is better than, worse than, or as good as another.

4. This model of consumer (expenditure /relationship) can show different behaviour (поведение) of different consumers.

5. The demand theory assumes that the consumer (following/depending) on a budget constraint wants to (vary/ maximize) utility.

6. Importers often must first (follow/obtain) an import licence.

7. Economic development is the process of raising the income (per/within) head of the people of a country.

8. If the level of imports is high, great parts of incomes are spent on the goods produced abroad (that is/rather than) on the goods produced at home.

9. Statistics show that (the budget constraint / the number) of working women with young children is constantly growing in the USA today.

10. Ai increase in consumer expenditure usually (follows/results in) an equivalent rise in the income of consumers.

17. Составьте все возможные словосочетания из слов в левой и правой колонках и переведите их.

1

Традиционно существительное goods в значении «товар, товары» употребляется только во множественном числе, напр. goods and services. В специальных экономических текстах это слово используется и в единственном числе, как обычное исчисляемое существительное.

2

Встречается как слитное написание слова процент – percent, так и раздельное – per cent.

3

each price – зд. любая цена.

4

other things equal – при прочих равных условиях.

5

are assumed – рассматриваются, принимаются.