distinct – ясный, различимый

dominate – доминировать

effort – усилие

enrichment – обогащение

entrust – вверять, доверять

eventually – постепенно, шаг за шагом

giant – гигант; гигантский

homogeneous – однородные

individualism – индивидуализм

innovate – использовать инновации

interventionist – интервенционистская

law – закон

legal – законный

legitimate – законный, легитимный

loyalty – лояльность

luxury – роскошь, предмет роскоши

mutual – общий

necessity – необходимость, предмет (первой) необходимости

occur – случаться, происходить

performance – исполнение, работа, деятельность

proof – доказательство

protect – защищать

pursuit – следование, преследование

restrict – ограничивать

rival – соперник

rivalry – соперничество

security – безопасность

sophisticated – сложный, изощренный

term – термин

warranty – техническая гарантия

self-interest – личный, частный интерес

in this case – в этом случае

to a certain extent – до определенного предела

in terms – в терминах

small scale – малый масштаб; маломасштабный

cost-cutting – снижающий издержки

money-back guarantee – гарантия возврата денег

brand name – товарная марка

flesh-and-blood – «во плоти» (досл.: во плоти и крови)

microwave oven – микроволновая печь

videocassette recorder – видеомагнитофон

answering machine – автоответчик

personal computer – персональный компьютер

sophisticated camera – сложный фото(кино)аппарат

compact disc player – проигрыватель компакт-дисков

in exchange for – в обмен на

engage in– участвовать (в), быть задействованным (в)

large-scale – крупномасштабный

long-range – долговременный

Exercise 2

Answer the questions:

1. What assumption is capitalism based on?

2. What is the state's role under capitalism?

3. What decisions are people free to make within the capitalist system?

4. What is «pure» competition?

5. What are companies' aims under real competition?

6. What do competing companies undertake to attract customers?

7. What benefits of capitalism are based on such things as rivalry and product differentiation?

8. What is the main feature of modern capitalism?

9. Who do giant corporations attract funds from?

10. What role does a government play in national economies under capitalism?

1

A young man asked an old rich man how he made his money.

The old guy fingered his very expensive wool vest and said, "Well, son, it was 1932. The depth of the Great Depression. I was down to my last nickel.

"I invested that nickel in an apple. I spent the entire day polishing the apple and, at the end of the day, I sold the apple for ten cents.

«The next morning, I invested those ten cents in two apples. I spent the entire day polishing them and sold them at 5:00 pm for 20 cents. I continued this system for a month, by the end of which I'd accumulated a fortune of $1.37.»

«And that's how you built an empire?» the boy asked.

«Heavens, no!» the man replied. «Then my wife's father died and left us two million dollars.»

2

«My boy decided to go into business on a shoestring,» said George. «He's tripled his investments, but he's still not satisfied, can you believe it?»

«Why not?» asked his friend.

«He can't think of anything to do with three shoestrings.»

3

A businessman was leaving his office building and saw a little boy sitting on the curb with a dog. The boy yelled at the businessman, «Hey, how would you like to buy a dog?»

The man was intrigued by this sales approach and asked the boy, «How much do you want for your dog?»

The boy told him, «Fifty thousand dollars.»

«Fifty thousand dollars!» the man repeated in astonishment. «What special tricks does this dog do that he can earn enough money to be worth fifty thousand dollars?» the man asked the boy.