Translate the following sentences into English. 1) Конкуренция определяет доходы и распределе­ние товаров

1) Конкуренция определяет доходы и распределе­ние товаров.

2) Конкуренция действует как кнут и пряник эко­номической жизни.

3) Все мы, как работники, можем быть заменены теми, кто способен и желает делать работу луч­ше или с меньшими затратами.

4) Если мы делаем нашу работу хорошо, мы, всего вероятнее, получим хорошее вознаграждение.

5) Успешный производитель имеет больше потре­бителей и увеличивает свою прибыль.

6) Продуктивный рабочий получает более высокую зарплату и несёт большую ответственность.

7) Рынок создаёт конкуренцию.

8) Конкуренция создаёт мотивацию.

9) Производительность труда создаёт более высо­кие прибыли для производителя и более высо­кое вознаграждение для работников.

10) Поэтому уровень компетенции выше в странах с рыночной экономикой.

III Translate the following dialogues from Russian into English:

Test Paper №1.

Variant 4.

I Read the following text and translate it in writing:

PRIVATIZATION

Privatization is the process by which the production of goods or services is removed from the government sector of the economy. This can be done either by the public sale of shares in a previously state-owned enter­prise, or by the use of private businesses to do govern­ment work under contract.

The leader in this strategy was the Thatcher gov­ernment of Great Britain from 1979 to 1990. Previous governments had tried limited denationalization (the restoration of nationalized enterprises to their previ­ous owners), but with limited success. Privatization in­volved totally new owners. In some cases the state en­terprises that were "privatized" had never been in the private sector.

Because state-owned companies have no profit mo­tive, they have no incentive to produce goods that con­sumers want, and to do so at low cost. In addition, even if they want to satisfy consumer demands, they have no idea of what consumers want.

The result is misallocation of resources. Management responds to political, rather than to commercial, pres­sures. The capital assets of state businesses are often of poor quality because the governments are not interested in the renewal of capital equipment.

Before the British water industry was privatized in 1989, it was undercapitalized by over $11 billion. As the result the water supply failed to meet European standards for quality and safety. Similarly, the post of­fice had cut back its services. First telegrams disap­peared, then Sunday collection, then Saturday second delivery. These changes made life easier for producers at the expense of service to consumers. Most serious of all, the losses of state industries consume funds that are needed for private investment.

The British privatization of nearly four dozen ma­jor businesses and several hundred small ones was a suc­cess. Privatized British industries outperformed the mar­ket average once they entered the private sector, and the privatized stocks rose in value faster than the stock market average.

Following the collapse of communism in eastern and central Europe, first Poland, Hungary, and Czechoslova­kia, then Romania and several of the former Soviet re­publics began to privatize. The problems in these econo­mies were very different from those faced by the ad­vanced economies. Decades of low wages meant that little wealth was available for investment, and no stock markets existed on which to make sales. Very often, there were no laws to protect or even permit private own­ership, much less the supporting infrastructure of con­tract law and financial support services such as banks and accountants.

For this reason the formerly socialist economies found themselves forced to blaze a new trail of privati­zation, sometimes using the distribution of "coupons" to the population as a means of spreading ownership. Very often some degree of "informal" privatization was per­mitted, in which management effectively expropriated what had been state property. Unlike Britain, which had about 10 percent of its economy in state hands and had sold three-fifths of it over ten years, the socialist coun­tries were now faced with privatizing 60 to 80 percent of their economies within half that time.

Still new capitalist countries learned from the expe­rience of their early leaders. These included the tech­niques of writing off past debts, allocating shares to workers, splitting monopolies into competing elements, and establishing new regulatory agencies to calm public fears about the behaviour of the newly privatized opera­tions.

By restoring market incentives and commercial real­ity, privatization revived state-owned industries. It di­verted billions of dollars from the support of loss-mak­ing government concerns into the expansion of wealth-creating private businesses.

II Do the following tasks to the text given up: