Control №6 English, option 2

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Uploaded: 07.08.2013
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Control task number 6
OPTION II
I. Read the text and translate written text. Locate and highlight the text predicate verb in the passive voice of one feature, modal verbs - two traits.
THEORY OF SUPPLY
The theory of supply is the theory of how much output firms choose to produce. The principal assumption of the supply theory is that the producer will maintain the lever of output at which he maximizes his profit.
Profit can be defined in terms of revenue and costs. Revenue is what the firm earns by selling goods or services in a given period such as a year. Costs are the expenses which are necessary for producing and selling goods OR services during the period. Profit is the revenue from selling the output minus the costs of inputs used.
Costs should include opportunity costs of all resources used in production. Opportunity cost of a commodity is the amount an input can obtain in its best alternative use (best use elsewhere). In particular, costs include the owner's time and effort in running a business. Costs also include the opportunity cost of the financial capital used in the firm.
Aiming to get higher profits, firms obtain each output level as cheaply as possible. Firms choose the optimal output level to receive the highest profits. This decision can be described in terms of marginal cost and marginal revenue.
Marginal cost is the increase in total cost when one additional unit of output is produced.
Marginal revenue is the corresponding change in total revenue from selling one more unit of output.
As the individual firm has to be a price-taker, each firm's marginal revenue is the prevailing market price. Profits are the highest at the output level at which marginal cost is equal to marginal revenue, that is, to the market price of the output. If profits are negative at this output level, the firm should close down.
An increase in marginal cost reduces output. A rise in marginal revenue increases output. The optimal quantity also depends on the output prices as well as on the input costs. Of course, the optimal supply quantity is aftected by such noneconomic factors as technology, environment, etc.
Making economic forecasts, it is necessary to know the effect of a price change on the whole output rather than the supply of individual firms.
Markel supply is defined in terms of the alternative quantities of a commodity all firms in a particular market offer as price varies and as all other factors are assumed constant.
Explanation of the text:
1. to be a price-taker - take current market prices
2. etc - and so on and so forth

II. Answer the questions in the text.
1. What is the principal assumption of the supply theory?
2. What is the difference between profit and revenue?
3. What is included in costs of production?
4. How do firms get maximum profits?
5 When are profits the highest?
6. When should firms close down?
7. What is the relationship between marginal revenue, marginal cost and output?
8. What is market supply? What is market supply important for?

III. Translate the following sentences into English.
1. Market demand - is the total demand for goods in the society.
2. Not all partners in the valley to take an active part in the management of the firm.
3. It is not easy to calculate the revenue, costs and profits for big business.
4. The farmer - a person who owns and operates the farm.
5. When the price rises above the marginal costs, every manufacturer wants to produce more.
6. Even if the zero generation firm should pay some of the costs.
7. The costs should include the opportunity cost of the resources used in production.

Additional information

IV. Rewrite the following sentences. Emphasize in each predicate verb and determine its species-temporal form and deposit. Turn suggestions on the Russian language. Pay attention to the translation of passive revolutions.
I. Roman law is one of the greatest system that has ever existed.
2. I'm meeting Joe in town and we're going to the theatre.
3. Take these tablets, and in twenty - four hours the pain will have gone.
4. The gate is locked at 6 o'clock every night.
5. Dozens of trees were destroyed.

Rewrite V supply. Emphasize Infinitive. Set it functions: determining fact of the predicate verb. Turn suggestions on the Russian language.
1. The plan of our work will be discussed at the muting to be held on May 25.
2. The goods to be loaded on this steamer consist of different kinds of machinery.
3. The first lot is ready for shipment but to economize on freight we have decided to ship it with the second lot.
4. To make mistakes is easy.
5. He's looking for a place to live in.
6. Do not likes to read English
7. His task was to complete the work in time.

VI. Rewrite the following sentences. Emphasize modal verbs and their equivalents. Turn suggestions on the Russian language.
1. As he received a bad mark, he had to go over the material again.
2. We were to send his letter of recommendation by air mail.
3. Could you speak English a year ago.
4. You may open a window, it's hot here.
5. The experiment should be finished today.

VII. Put the verbs in the brackets in the required sense of time.
1. I can not show you my written work as it not (to return) by my teacher.
2. The documents not (to sign) get by the manager. They (to check) now.
3. She (to frighten) by a loud noise in the street.
4. The goods not (to examine) get at the custom - house.

VIII. Translated into English.
1. When he arrived in London, he could not negotiate with the companies without an interpreter.
2. I had to stay home yesterday.
3. They may be at home right now.
4. He was able to translate the text without a dictionary.

IX. Translated into English, using the appropriate forms of the infinitive.
1. He wants the cargo was insured.
2. To understand the importance of this event, you should know all the facts.
3. They expect that the ship will depart tonight.

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