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Glossary: competitiveness конкурентоспроможність

mixed private- and економіка, заснована на

public-enterprise economy державній і приватній власності

in growth rates за темпами зросту

publicly owned corporations державні корпорації

adjustment of interest rates регулювання відсоткової ставки

direct personal taxation пряме оподаткування фізичних осіб

share holdings акції

exposure неприйняття захисних мір

utilities комунальні послуги

revenue прибуток

fall short of expenditures не вистачати

excises акциз

graduated income tax прогресивний прибутковий податок

offset by public borrowing покритий державним займом

Unit 7. Economic Policy of the usa

I. Words and word combinations to remember:

District of Columbia округ Колумбія

scientific науковий

diversity різноманітність

to outstrip перевершувати (когось у чомусь)

cast iron чавун

the Great Lakes Великі Озера

primary sector добувна галузь промисловості

secondary sector обробна галузь промисловості

tertiary sector виробництво послуг

forestry лісове господарство

fishing рибні промисли

mining гірничодобувна галузь

annual GDP (Gross Domestic річний ВВП

Product)

processing переробка

construction будівництво

approximately приблизно

wholesale trading оптова торгівля

retail trading роздрібна торгівля

competition конкуренція

opportunity можливість

free enterprise вільне підприємство

prosperous заможний, багатий

I I. Read the text and be ready to do the tasks:

The USA is one of the largest countries in the world. Its area is more than 9.3 mln. sq. km. The population of the country is about 250 mln people. The USA is made up of 50 states, with Washington D.C. (District of Columbia) as its scientific and cultural centre.

The USA is the country of great diversity. No general statement can be made about the weather, the landscapes or the climate, because the country occupies nearly half of the continent and each region has its own characteristics.

The south of the country has been an agricultural centre for hundreds of years. Cotton, oranges, lemons, are transported all over the USA and to the other parts of the world. Wheat and corn are grown in the central part of the country.

Economically the USA has outstripped many other countries of the world. It extracts oil, gas and coal in enormous quantities. The country is a great producer of cast iron, steel and other metals. Most of the factories and plants are located in the north-west and near the Great Lakes. The largest financial, industrial, transport and trade centre of the country is New York.

The US economy consists of three main sectors: primary, secondary and tertiary.

Primary economic activities are those directly involving the natural environment, including agriculture, forestry, fishing and mining, and usually contribute about 4% of the annual GDP.

Secondary economic activities involve processing, or combining materials into new products and include manufacturing and construction. This sector accounts for approximately 23% of the GDP.

Tertiary economic activities involve the output of services rather than goods. Examples of tertiary activities – wholesale and retail trading, banking, communications, entertainment and recreation, government. The tertiary sector is the most important one and accounts for almost 73% of the annual GDP.

Although the American economy is not perfect, it does what is expected of marketplace competition – gives the Americans the opportunity to compare quality and prices and to decide what they really want to buy. As a result of creativity, initiative and hard work, which are encouraged by free enterprise, the USA has become one of the most prosperous countries in the world.

III. Match the following English words and word combinations with their Ukrainian equivalents:

scientific and cultural centre складати

great diversity в економічному плані

cotton Великі озера

economically фабрики та заводи

to extract центр торгівлі

factories and plants науковий і культурний центр

trade centre велика різноманітність

the Great Lakes видобувати

to account for бавовна