Unit 5. Free-enterprise system
TEXT A: What is free enterprise? TEXT B: Role of government in a free-enterprise economy TEXT C: Invisible hand BUSINESS COMMUNICATION: At the airport GRAMMAR: Future Tenses. The Imperative Mood
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Everything that is really great and inspiring is created by the individual who can labor in freedom.
Albert Einstein (1879 - 1955),
a German theoretical physicist
Lead-in
1. Do you feel free? What freedoms do you enjoy? What freedoms are guaranteed in a democratic society? How do you understand economic freedom?
2. If you are free, it means that it is no one but you who makes decisions. What motivates you in decision-making? What motivates people in making economic decisions?
3. While the pure market economy does not imply government’s interference at all, the free enterprise economy does. In what spheres do you think government can perform better than private companies?
PRE-TEXT EXERCISES
A. Reading drills
Ex.1. Read the words with the following letter combinations.
ou [au] output, account, household
[ʌ] country, double, nourish
ea [i:] each, deal, feature, increase, mean, means
[e] health, wealth, measure, instead
[ei] great, break
ow [au] how, now, power
[ou] low, own, slow
au [ɔ:] because, automatic, automobile
ch [t∫] search, purchase, choose, exchange, channel
[k] mechanism, chemical, character
[∫] machine, chef, brochure
Ex.2. Read the following words with the letter c in different positions.
[k] economy, Cuba, occur, considerable, sector, country, occupation
[s] produce, service, difference, resource, society, decide, incentive, necessary, receive
[k]-[s] scarce, consequence, success, coercive
[∫] socialist, efficiency, beneficial, financial, artificial
[t∫] which, China, purchase, choose, exchange, channel
[k] mechanism, school, chemistry, chronicle
Ex.3. Read the words in the groups bellow. Pay attention to the word stress.
a) words with the stress on the first syllable:
mechanism, utilize, private, enterprise, difference, social, value, motivate, consequence, innovator, satisfy, borrow, voluntary, contract, surplus, shortage, rationing, indicate;
b) words with the stress on the second syllable:
identical, produce (v), unique, involve, considerable, occur, component, economy, resource, society, objective, creative, productive, pursue, decision, determine, incentive, consumer, possess, potential, competitive, maintain, abundant;
c) polysyllabic words with the main and secondary stress:
economic, manufacturing, beneficial, occupation, inability, artificial, interference.
Ex.4. Practice reading the following words.
Identical, mechanism, utilize, occur, private, creative, highly, efficiency, pursue, beneficial, artificial, determine, extremely, reward, consequence, scarce, purchase, sovereignty, entrepreneur, necessarily, interference, coercive, guide.
B. Word formation
Ex.5. Study the following typical endings of nouns. Using one of them, change each of the following words into a noun.
Membership; socialism; sadness; information; government; beauty; marriage; excellence.
Kind, real, move, human, elect, intelligent, permanent, confuse, leader, improve, equal.
Ex.6. Make up adjectives from the following verbs as in the model.
Model: verb + - ive → adjective
e.g. to invent → inventive; to produce → productive
Create, decide (d→s), innovate, protect, impress, attract.
Ex.7. Form adjectives adding prefix in- (im- before p, il- before l, ir- before r) as in the model. Explain what new meaning the prefix adds to adjectives.
Model: possible → impossible
Complete, capable, correct, definite, sensitive, patient, perfect, legal, logical, liberal, regular, rational, relevant.