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                  1. Make up your own dialogue using the following expressions:

to levy protective tariffs to place a quota

to benefit from the transaction to exchange things

to specialize in the production of to be concentrated

to limit the amount of foreign to restrict trade

competition

                  1. Put questions to the italicized words:

Model: Our nations will be trading with one another when governments of the two countries limit quotas. When will our nations be trading with one another?

1. They will be exchanging their products at the international fair at this time tomorrow. 2. Our company will be manufacturing new devices from September to November the following year. 3. The factory will be specializing in the production of automobiles when they change the management. 4. The government of the country will be promoting trans-portation facilities for a number of reasons. 5. Using the expect subsidy, the government will be affecting the flow of trade among nations.

XI. Change the following sentences from direct into indirect speech:

Model: He said: «They will be producing machines during the next two years».

He said that they would be producing machines during the next two years.

1. He said: «They will be growing vegetables the whole season». 2. The manager said: «From now on we shall be promoting the development of certain industries in particular regions». 3. She remarked: «We shall be specializing in the production of new products from October this year to October next year». 4. The President said: «We shall be restricting trade in a number of ways from now on». 5. He said: «We shall be limiting the amount of foreign competition during the following years».

  1. XII. Translate into English using the Future Continuous Tense (the Active Voice):

1. Ми будемо спеціалізуватися з виробництва певних видів товарів упродовж кількох наступних років. 2. Ця краї­на з початку й до кінця наступного року обмежуватиме зовнішню торгівлю. 3. Це фермерське господарство виро­щуватиме овочі впродовж усього року. 4. Вони застосо­вуватимуть квоту на деякі види імпортних автомобілів з наступного місяця цього року до червня наступного року. 5. Тарифи захищатимуть вітчизняну промисловість протя­гом певного часу.

  1. XII. Communicative situations:

  1. Trade among people and nations has occured for thousands of years. What are the advantages of trade? Why do many people seem to fear trade with other countries?

  2. American steel production is down. Many steelworkers are unemployed. The equipment sits idle. A bill before Congress proposes high tariffs and quotas to protect the steel industry from imported steel.

    1. Explain how each of the following parties might respond to the issue.

Steel industry Iron and steelwokers Consumers Auto industry

    1. Considering the position of different groups in the economy, do you believe it would be a wise or unwise economic decision to protect the steel industry from foreign producers? Explain your position.

  1. Describe the position you would take on high tariffs, quotas or voluntary restraints on automobiles manufactured in Japan if you were:

    1. the owner of an American automobile company;

    2. a worker in that automobile plant;

    3. a consumer interested in buying a new automobile;

    4. an American manufacturer of computer parts to be sold in Japan.

Lesson 12

OTHER ECONOMIC SYSTEMS

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