UNIT 3. THE FACTORS OF PRODUCTION
1. Прочтите следующие слова: reason, consumer, incentive, efficiency, available, measure, average, feature, obviously, employment, eligible, equal, decline, relationship, quantity, apparent, relatively, therefore 2. Прочтите и переведите следующие группы слов: human effort, goods and services, a factor of production, in terms of efficiency, additional considerations, the average number of hours, the size of the total population, full-time employment, legally controlled, an important determinant of the supply of labour, the gradual reduction, an extension of the annual holiday period, for the time being 3. Запомните следующие слова и словосочетания:
consideration (п.) — рассмотрение consumer (п.) cost (п.) define (п.) demand (п.) determinant (n.) direct (v.) efficiency (n.) eligible (adj.) embrace (v.) engage in (v.) extention (n.) fall («.) firm (n.) full-time employment goods (n.) gradual (adj.) hence (adv.) human (adj.) incentive (n.) income (n.) important (adj.) labour (n.) leisure (n.) mean (v.) measure (n.) mental (adj.) number (n.) obviously (adv.) offer (n.) output (n.) own (v.) point (n.)
- потребитель - себестоимость; стоимость - определять - решающий, определяющий ~ направлять, управлять - производительность, про - годный, подходящий - охватывать - быть занятым в - увеличение - падение - фирма — полная занятость - товары - постепенный - следовательно - человеческий - побуждение, стимул; - доход, заработок - важный - рабочая сила, труд - свободное время, досуг - означать - мера - умственный - ряд,число - очевидно - предложение - выпуск (продукции) - владеть - точка
—население —цена —количество —поднимать —диапазон —ставка —причина —сокращение —связь —относительно —оплата труда —повышать —услуга —размер —исключительно —подвергать —предложение —принимать во внимание —принимать участие —термин, язык —трактовать —зарплата 4. Определите, к какой части речи относятся следую legal, necessary, solely, community, composition, retirement, extension, annual, apparent, attractive 5. Образуйте существительные от следующих гла direct, apply, cost, depend, fall, measure, offer, supply, operate, consider, compose, engage, retire, mean, reduce, decline, improve, increase Text A Labour Labour is human effort — physical and mental — which is directed to the production of goods and services. But labour is not only a factor of production, it is also the reason why economic activity takes place. The people who take part in production are also consumers, the sum of whose individual demands provides the business person with the incentive to undertake production. For this reason when we are considering real-world economic problems it is necessary to treat labour somewhat differently from the other factors. There are social and political problems which have to be taken into account. For example, the question of how many hours per day a machine should be operated will be judged solely in terms of efficiency, output, and costs. The same question applied to labour would raise additional considerations of individual freedom and human rights. It must be borne in mind that it is the services of labour which are bought and sold, and not labour itself. The firm cannot buy and own labour in the same way that capital and land can be bought and owned. The supply of labour The supply of labour available to an economy is not the same thing as the number of people in that community. The labour supply is a measure of the number of hours of work which is offered at given wages over some given period of time. It is determined, therefore, by the number of workers and the average number of hours each worker is prepared to offer. Both of these features are subject to change and, at any moment of time, they will depend upon a number of things. 1. The size of the total population. This is 2. The age composition of the population. 3. The working population. In many countries The working population may be defined as the number of people who are eligible for work and offer themselves for employment. 4. The working week and holidays. The number of people who work (or are available for work) is an important determinant of the supply of labour, but so is (he average number of hours each person works, The supply of labour provided by 20 people working for 40 hours is the same as that provided by 40 people working for 20 hours. Other things being equal, the shorter the working week, the smaller the supply of labour. The gradual reduction in the working week has been accompanied by an extension of the annual holiday period. Again this amounts to a reduction in the supply of labour. It must not be assumed, however, that a fall in the supply of labour implies a reduction in the output of goods and services. In spite of the decline in the average number of hours worked by each person, output per worker has continued to rise because of improved technology. 5. Renumeralion. The relationship between quantity supplied and price is discussed at length later in this book, but for the time being it should be apparent that there will be a relationship between the amount of work offered and the price paid for that work. Generally speaking, when wage rates are relatively low, increases in wages will tend to lead to an increase in the supply of labour, but there comes a point when higher incomes make leisure more attractive. When incomes are relatively high, therefore high wage rates may reduce the amount of labour offered by the individual worker.
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