Ціна.

• Prices play an important role in all economic markets.

• Price perform two important economic functions: the rationscarce resources and thev motivate production.

• If there were no price system would be impossible to determine a value for ny goods or services.

• A high price, tor example is a signal for producers to produce more and for consumers to buy less.

• A low price is a signal for producers to produce less and for consumers to buy more.

• The price- result of a competition between the buyers and sellers.

• In economic markets buyers and sellers have exactly the opposite hopes and intentions.

• Market equilibrium- a situation where prices arc relatively stable and there is neither a surplus nor a shortage in the market.

• The process ot regulation exists then, when the sellers and buyers come to the market together.

• The price system in a market economy is surprisingly.

Фактори виробництва

• There are four factors of production: land, labour, capital and entreprenuership.

• Factors of production provide the means for a society to produce and distribute its goods and services.

• As an economic term land means the gifts of nature or natural resources not created by human efforts.

• Labour means human resources or people with all by their efforts and abilities necessary for producing the goods and senrvices.

• Unlike land, labour is a resource that may vary in size overtime.

• Сapital is unique in that, it is the result ol production.

• Capital- the tools, equipment and machines used in production of goods and services.

• Financial capital refers to money that business people use to buy buildings, machinery, tools and other productive resources used in the process of creating goods and setvices.

• Entrepreneurship the managerial or organizational skills needed by most firms to produce goods and services.

Праця

• In order for many country to grow, it must have a skilled labour force.

• There are four major categories of labour that are based on the general level of skills: unskilled, semiskilled, skilled and professional or managerial.

• Labour as the factor of production are the people, which take participation in production activity.

• The size of labour force is related to total population.

• The decrease or increase of total of the population influences the size of a labour force.

• Workers who have machanical abilities to operate any not very complex equipment fall into the category of semiskilled labour.

• Workers with high level skills fall into the category of professional labour.

• Workers who do not have the training to operate machines and equipment fall into the category ot unskilled labour.

• Most occupations have wage rate.

• Wage- rate a standard amount of pay given for work performed.

Попит

• Most people think of demand as being the desire for certain economic product.

• The desire for certain economic product must be coupled with the ability and willingness to buy it.

• In economics, the relationship of demand and price is expressed by the Law of Demand.

• The demand for an economic product varies inversely with its price.

• If prices are high the quantity demanded will be low.

• When the prices fall, the consumers buy more goods and services.

• The demand curve is a graphic representation of the relationship between price and demand.

• The demand curve shows how many certain economic product would be bought for the different prices.

• Demand influence not only price, but also such factors as profit of the consumers and price for goods- substitutes.

• In the economic theory there are two kinds of demand: elastic and inelastic.

Гроші

• Money can be any substance that functions as a Medium of Exchange, a Measure of Value and a Store of Value.

• The different forms of money are in use in the USA. Store of Value means, that the goods or services can be converted in money.

• As a Measure of Value money expresses worth in terms that most individuals understand.

• The most familiar forms of money are coins and currency.

• Modern money has several characteristics: роrtability, durability and divisibility.

• The durability means, that money can be used the long period of time.

• The term “currenty” refers to paper money and coins refers to metallic form of money.

• The value of money or the purchasing power of money is

• not stable, it can change.

Eкономіка Yкраїни

• Thе government of Ukraine see the way out ot the crisis in realization of the programme of economic reforms.

• The loss of system of traditional economic links with the states of former Soviet Union has resulted economy of Ukraine in crisis.

• Modern independent Ukraine has large potential for development of economy.

• Reforms are aimed at the establishment of an open, effective market type economy.

• One of directions of the program of economic reform is creation of a condition for gradual integration of Ukraine with world economy.

• There are two main branches of agricultural production in Ukraine: crop production and animal husbandry.

• The most widespread branches of animal husbandry are: dairy and beef cattle breeding, pig rasing.

• Today’s industries are unable to satistfy the consumers wants in Ukraine.

• Black metallurgy, chemical industry mechine-buildmg and light industry- basic industries of Ukraine.

• Ukraine has good conditions for development of agricultural production..

Економіка Великобританії

• Great Britain is a highly developed naval and industrial power.

• The main sectors ot British economy are manufacturing services and agriculture.

• Coal mining, metallurgy, textile shipbuilding are oldest industries of Great Britain.

• British agriculture is efficient tor it is based on modern technology and research.

Економіка США

• USA has a developed free enterprise economy.

• The USA is extremely rich in such mineral as coal, oil, natural gas iron ore and non- ferrous metals.

• The structural composition of tht US industry shows a marked predominance of heavy industry.

• Agriiculture is one of the most important sectors ol the US economy.

• American agriculture produces more food products than any others capitalist country.

Що таке економіка

• Economics was defined as the study of mankind in the evervday business life.

• Economists study of human efforts to satisfy what seems like unlimited competing wants through the careful use of relatively scarce resources.

• The economy deals with production distribution exchange and consumption.

• To understand economy it is necessary to know its basic terms needs wants demands.

• Need is basic requirement for survival and want is a means of expressing a need.

• The term goods and services are used to describe many things people desire.

• Consumer goods are intended for final use by individuals ty satisfy their wants and needs.

• Economic products are scarce in an economic sence.

• In economics the term value means something having a worth that can be expressed in dollars and cents.

• The wealth - the sum of those economic products that are tangible scarce, usetul and transferable from one person to another.

Банки

• The banks provide a safe place for people to deposit their money.

• The bancs lend excess funds to individuals and businesses temporarily in case of need.

• Bank’s assets are the properties possessions and claims on others.

• Bank’s liabilities are the debts & obligations to others.

• Tne balance sheet condensed statement showing all assets & liabilities at a given point of time.

• The liquidity adds to the bank’s ability to serve its customers.

• Bank's act as financial institutions that bring savers and borrowers together.

• The bank can use some of excess funds to buy the state or local bonds.

• Once the bank attract more funds it can make more loans and more profits.

ПРОПОЗИЦІЯ

• The supply means the amount of the goods or services, that producers wish to sell in the market at the price, which will be on that time.

• In economics the relationship of supply and price is expressed by the Law of Supply.

• The Law of Supply says that the quantity of an economic product offered for sale varies directly with its price.

Оподаткування

• There are three types of taxes in the US: progressive, regressive and proportional.

• A proportional tax takes the same percentage of all incomes, regardless of size.

• A regressive tax is one that takes a higher percentage of a low income and a lower percentage of a high income.

• A progressive tax takes a larger percentage of a higher income and a smaller percentage of a lower income.

• The sale tax is imposed almost all goods.

• The property tax is a basic source of the income.

• In order to have an effective tax system, government must have criteria or standards.

• There are two principles of the taxation: the benefit-received principle and abillity-to-pay ptinciple.

• The people should pay the taxes proportionally up to amount of services and privileges, which the have received. Sole means, which the people have to pay the taxes as a profit, which they receive.