Fill in the gaps with the words and expressions from the text.

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C: Mixed economics

Command and market economies both have significant faults. Partly because of this, an intermediate system has developed, known as mixed economies. A mixed economy means very much what it says as it contains elements of both market and planned economies. At one extreme we have a command economy, which does not allow individuals to make economic decisions, at the other extreme we have a free market, where individuals exercise considerable economic freedom of choice without any government restrictions. Between these two extremes lies a mixed economy. In mixed economies some resources are controlled by the government whilst others are used in response to the demands of consumers.

Technically, all the economies of the world are mixed: it is just the balance elements between market and planned elements that alters. Some countries are nearer to command economies, while others are closer to free market economies. So, for example, Hong Kong has some state - controlled industry, while Cuba has some privately owned and controlled firms.

The aim of mixed economies is to avoid the disadvantages of both systems while enjoying the benefits that they both offer. So, in a mixed economy the government and the private sector interact in solving economic problems. The state controls the share of the output through taxation and transfer payments and intervenes to supply essential items such as health, education and defense, while private firms produce cars, furniture, electrical items and similar, less essential products.

The UK is a mixed economy: some services are provided by the state, while a range of privately owned businesses offer other goods and services. The Conservative government under Margaret Thatcher switched many businesses from being state - owned and controlled to being privately owned as part of its privatization programme. This has taken the UK economy further away from the planned system.

1. Command and market economies both have ____________ .

2. __________ contains elements of both market and planned economies.

3. __________ we have a command economy, which does not _________ , __________ we have a free market, where individuals without ___________ .

4. Some countries are _________ to command economies, while others are ________ to free market economies.

5. It is just _________ between market and planned element that __________ in all the economies of the world.

6. The aim of mixed economies is ___________ the disadvantages of both systems while __________ the benefits that they both offer.

7. In a mixed economy the government and the private sector ________ in _______ .

8. The state controls ____________ through _________ , and _________ , and intervenes to supply _________ .

9. The Conservative government switched many state - owned businesses to being privately owned as part of its ___________ .

2. Find in the text English equivalents for:

избегать недостатков;  частный сектор; налогообложение;

централизованно принимать экономические решения; на одном

полюсе…, на другом .... ; без ограничений; взаимодействовать в решении проблем; пользоваться благами; правительство, возглавляемое.

Emphatic construction: It is (was) ... that (who)

3. Translate the sentences:

It is the intention of the planners that there should be enough goods and services for all.

It is these disadvantages that have led to many countries abandoning planned economies.

It is customers who decide what is to be produced.

It is just the balance between market and planned elements that alters.

4. Rewrite the following sentences using the emphatic construction

1. Television was invented in this century.

2. Mathematicians have solved complicated problems with the help of computers.

3. I first saw this play on TV.

4. Two doctors made this discovery.

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