4. Ask questions to these answers (work in pairs).

Organization has two principal aspects.

One relates to the establishment of so-called lines of responsibility.

An organization chart designates the executives of the business.

Yes, it does.

Planning has.

The third aspect relates to the establishment of standards of work in all departments.

Yes, it is.

A distinction is made between top management and operative management.

Control involves the use of records and reports.

The American engineer Frederick Taylor.

It was adopted to the employment of qualified workers, and wage incentive programs.

5. Translate the following into Russian:

Characteristics of Economic Markets

III. Grammar Exercises

6. Write down the following verbs in the form of Participle II:

to go, to increase, to begin, to buy, to sell, to make, to play, to write, to bring, to specialize, to operate, to understand, to expand.

7. Put the words in brackets in the Passive Voice:

1. Every society (to face) with the identical problem, the problem of scarcity.

2. The need to chose (to impose) on us all by our income, wealth and ability to borrow.

3. Individuals and families (to limit) by the size of their personal income, savings and ability to borrow.

4. In a free market economy, prices (to determine) by the interaction of the forces of supply and demand.

5. When two goods satisfy similar needs, they (to describe) as substitutes.

8. Turn the following from Active Voice into Passive Voice:

1. Profits, savings and borrowing power limit business firms.

2. Frederick Taylor provided a notable impetus to industrial management.

3. Keynes wrote many books.

4. The competitive system will determine business ethics.

5. Great complexity of organization and administration characterize the operation of large business firms.

6. Two or more persons own a business organization.

7. Sir Joseph Binks gives Tom a small cheque.

8. They gave Uncle Tom a cheque and a railway carriage.

9. Translate the following sentences into Russian paying attention to the functions of Participle II:

1. Salaries refer to earnings paid on a weekly or monthly basis.

2. The term «wage» typically refers to the earnings of workers paid by the hour or unit of production.

3. Used in certain ways, wealth can earn income.

4. Natural resources are the things provided by nature that go into the creation of goods and services.

5. Nearly 90 percent of goods and services produced in the U.S. each year come from privately owned firms.

6. Shares are traded in organized markets such as the New York Stock Exchange.

10. Express the following in Russian:

1. The more you know about the subject, the better career decisions you will be able to make.

2. For their part, entrepreneurs seek as much profit as they can extract from their operations.

3. As a rule, the more scarce something is the higher its price will be, and the fewer people will want to buy it.

4. The higher the price, the greater the incentive to produce and sell the product.

11. Form adjectives with the help of suffixes:

-al: economic, nation, production, education, profession.

-able: to change, to exchange, to read, fashion, mistake.

12. Form adverbs with the help of the suffix «-ly»:

economical, political, different, rapid, definite, historical, complete, formal, practical, particular.

13. Read the text and retell the contents in Russian:

William Gates

Gates, William Henry, III (1955- ), American business executive, chairman and chief executive officer of the Microsoft Corporation, born in Seattle, Washington. Gates cofounded Microsoft in 1975 with Paul Allen, his high school friend and partner in computer language development from 1967. Fascinated by computers by the age of 12, Gates had been involved with various programming projects throughout high school. While attending Harvard in 1975, Gates teamed with Allen to develop a version of the BASIC computer programming language for the MITS Altair, the first personal computer. This work on BASIC for the Altair led Gates to drop out of Harvard in 1977 to pursue full-time his vision of «a computer on every desk and in every home,» the idea behind the Microsoft Corporation. In the early 1980's, Gates led Microsoft's evolution from a developer of computer programming languages to a diversified computer software company producing computer operating systems and applications software as well as programming tools. This transition began with the introduction of MS-DOS, the operating system for the new IBM Personal Computer in 1981. Gates took a personal role in convincing other computer companies to standardize on MS-DOS, fueling computer industry growth in the 1980's through software compatibility. Gates also pushed Microsoft toward the introduction of application software such as the Microsoft Word word processing software for the IBM-PC. A key strategic move by Gates was to agree to develop application software for the Apple Macintosh prior to the release of the first Mac in 1984. This led to a strong position for Microsoft in applications that take advantage of the graphical user interface (GUI).

Much of Gates' success rests on his ability to translate technical visions into market strategy, and to blend creativity with technical acumen. His willingness to bet on new technologies such as Microsoft Windows, Windows NT, and workgroup applications has paid off in keeping Microsoft at the forefront of computer hardware and software evolution.

Unit 6