Understanding a printed text what

Listed below.

WORD-STUDY

Unit XIII

55 – 56

Exercise 1. Check the translation in a dictionary, read and translate the words

Nouns

quota, subsidy, desire, restriction, quantity, sacrifice, apartheid.

Verbs

suffer, impose, feud, include.

Adjectives

inefficient, expensive, competitive, dubious, responsible, temporary.

Adverbs

artificially, rarely, temporarily, widely, unilaterally.

Exercise 2. Make up different parts of speech using the prefixes, translate them:

en-: courage, title, close, circle, code.

dis-: mantle, courage, like, count, agree, ability, advantage.

Exercise 3. Match the Russian equivalents to the given English collocations.

a) to bring about; in the long run; trade restrictions; to impose quota; goods and services; poorly made; to make the sacrifice; to be of dubious economic value; to be responsible for

b) в конечном результате; вызвать; ввести квоту; плохо сделанные; торговые ограничения; товары и услуги; принести в жертву; быть ответственным за; иметь сомнительную экономическую ценность.

ARE QUOTAS, TARIFFS, AND SUBSIDIES?

Like most wars, a trade war may bring about desired economic or political changes, but in the long run almost everyone suffers, including those whom trade war was meant to help.

An inefficient car maker, for example, may ask for limits on foreign imports, hoping to keep its prices high without improving the quality of its product. In the end, however, other countries may retaliate with trade restrictions of their own. Consumers and businesses in both countries are then forced to buy poorly made and expensive domestic products. Trade restrictions might protect a few jobs in inefficient industries, but the whole economy often suffers by becoming less competitive on the international markets.

The most common tools for limiting imports or foreign goods and services are quotas, tariffs, and subsidies. When a country imposes a quota, it limits the quantity of certain foreign products that can be imported. A tariff is a tax placed on goods entering a country, raising the price of imported goods. A government can also use the taxpayers' money to provide a subsidy to local producers, making the price or local goods artificially lower than imported goods.

Trade barriers, like walls between feuding neighbors, are usually imposed unilaterally by one country acting on its own to limit the amount of foreign products available to local consumers. These barriers are often designed to temporarily protect local producers from foreign competition and allow them time to improve productivity. The problem is that local producers rarely make the sacrifices to improve their product, or lower their prices as long as they are protected from foreign competition by trade barriers.

Although trade restrictions are of dubious economic value, they have been shown to be effective in bringing about political or social change. The refusal of countries to trade and do business with South Africa for example, was widely seen to be responsible for the decision to dismantle the system of apartheid. Trade blockades can be useful in forcing countries to change policies that violate human rights or international treaties, but only as long as a sufficient number of countries join in the blockade to make it effective.

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