52548

Capital

Конспект урока

Педагогика и дидактика

One of the factor of production which we are going to study is capital.The word "capital" refers to all tools, machines, buildings, and other goods which are not consumed directly for the satisfaction of the buyer, but which are used to produce or manufacture other goods and services which are consumed by the buyers. In modern civilization, the use of capital has become inevitable.

Английский

2014-02-16

35 KB

2 чел.

Unit 5

Text 1:          Capital

One of the factor of production which we are going to study is capital.The word "capital" refers to all tools, machines, buildings, and other goods which are not consumed directly for the satisfaction of the buyer, but which are used to produce or manufacture other goods and services which are consumed by the buyers. In modern civilization, the use of capital has become inevitable. Almost everything that we use is produced with the help of capital. If we destroy all capital like the railways, the motor car and other vehicles, factories, bridges and every other instrument of production, we shall become primitive again. Capital is not an article of consumption, but without capital very few consumption goods can be produced.

Capital Formation. From this description of capital, you can well understand that some effort or expenditure must be first devoted to the creation of capital itself. If you think that you will catch more fish by going a bit farther into the sea, you must first make a boat to sail in. If you think that more fish will be caught with the help of a net, you must then make a net. Thus the net and the boat will become your capital. You will spend a few days in making them, or if someone else has to make it for you, he will be paid for doing that work. Thus the creation of capital is a "round about" method of production. We have to save money, again, in order to create capital. Thus the creation or formation of capital will depend upon our capacity to save. Rich people can save a lot and therefore they will invest a lot of money and become richer. The more you save, the more you can

invest; and the larger the investment, the greater would be the rate of capital formation.

Capital Depreciation. Every form of capital depreciates in the long run. Machines in the factory, buildings, tools and instruments - all wear out while they are used. Therefore, even if new capital is not formed some of the current income will be saved in order to keep the capital intact. It must be repaired and replaced from time to time. For this purpose the owners of capital are required to maintain a depreciation or replacement fund, out of which, they spend to keep the capital intact or replace it in course of time.

Fixed and Circulating Capital. For the sake of convenience, the factory owners and other industrialists classify capital as fixed and circulating capital. By "fixed" capital they mean the factory building, machinery and other goods which, once purchased, remain with them for many years, and help production. "Circulating" capital means the raw materials, lubricating oils, fuel and other goods, which, though they also help production, are used up at short intervals and therefore will be purchased anew from time to time. From the point of view of economic theory, this classification is meaningless. Sometimes it becomes difficult to know whether something should be regarded as fixed or circulating capital. A large number of screws, nuts, etc. are used everyday in various factories. As they are required frequently, they may be called circulating capital, but in as much as they form a part of machines etc. they may be called fixed capital. If, again, an employer gives food to a labourer as part of his wages it is called circulating capital, but if he eats it himself it is not circulating capital. Thus we may explain that whether something is fixed capital or circulating capital or a consumption goods depends upon how it is used.

Vocabulary

circulating   capital   -   оборотный   капитал   (часть капитала компании, которая задействована в ее торговой деятельности)

depreciate - 1) изнашиваться; 2) обесцениваться

destroy - разрушать

devote - посвящать

expenditures - траты

fixed  capital  -  основные  средства  (капитал,  вложенный в основные фонды предприятия, т.е. землю, здания, оборудование)

lubricating oils - смазочные масла

machinery - оборудование

maintain - сохранять, поддерживать

nut - гайка

raw materials - сырье

screw - винт

tools - инструменты

vehicle - транспортное средство

Exercises

Exercise 1. Suggest the Russian equivalents for the words and word-combinations given below.

Factor of production, article of consumption, therefore, thus, in the long run, wear out, for this purpose, for the sake of convenience, from the point of view, a large number of, current income, from time to time, frequently.

Exercise 2. Match the words with their definitions.

1.capital a) to make or to produce large quantities of goods to be

sold, using machinery

2.circulating capital     b) a thing, such a car, bus, etc, that is used for carrying people or things from one place to another

3.to  manufacture     c) someone whose work needs strength rather than skill,    especially someone who works outdoor

4.vehicle d) the money, stock of goods etc, that are used to run a business, pay employees and produce and sell more

                                   goods

5.fuel e) stock of equipment, inventory, and other resources of production useful for more than one year

6)   labourer        0 a substance such as coal, gas or oil, that can be burned to produce heat or energy

Exercise 3. Fill in the gaps with the words and expressions from Exercise 2.

  1.  This farm ... has been working in this farm for ten years.
  2.  Coal is one of the cheapest ....
  3.  "Is this yoursir?" asked the policeman.
  4.  We have to reduce our... in order to pay off some the debts.
  5.  The factors of production include natural resources, human resources and ....
  6.  They ... industrial products in this area.

Exercise 4. Answer the questions.

  1.  What is capital?
  2.  How is capital formed?
  3.  How can you classify capital?
  4.  Give the description of fixed and circulating capital.

Check your grammar: Future Tenses.

Exercise 5. Find in the text some examples of Future meaning.

Exercise 6. Choose the correct item.

  1.  Don't phone me tonight.  I ... for my English exam.

a) will study b) will be studying        c) study

  1.  By the time we arrive home, she ... cooking.

a) will have finished        b) is going to finish       c) will have been finishing

  1.  Now that I've got a job, I ... a car.

a) will buy b) am going to buy        c) am buying

  1.  The train ... Moscow at nine o'clock.

a) leaves b) is leaving c) will leave

  1.  By the end of the day, she ... for ten hours.

a) will be working b) will have worked      c) will have been working

  1.  The time next week, we ... on the beach.

a) will lie b) will have been lying   c) will be lying

  1.  ... help you with the shopping, Mum?

a) Will I b) Would I c) Shall I


 

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