Предмет: Методические указания

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Production

1.  The  econ omy  is  employing  its  resources  to  produce  goods  and services. That is why these resources — land, capital, labour, and entrepreneurial ability —are called the factors of production.

2. There are several ways to define production. One definition is that it is any activity that creates present or future utility. Production may be equivalently described as a process that transforms inputs (factors of production) into outputs. The two description s ar e equivalent because output  is  something  that  cr eates  present  or  future  utility.  Among  the inputs into production, economists have traditionally included land, labour, capital,    and    the    more    elusive    category    called    en trepreneurship.

Entrepreneurship is defined as «the process of organizing, managing, and assuming responsibility for  a  business enterprise*.  An  entrepreneur  is thus, by definition, a risk-taker.

3. To the above list (land, labour, capital, and entrepreneurship), it has become increasingly common to add such factors as knowledge or technology, organization, and energy.

4. A production function is the relationship by which inputs are combined to produce output. Schematically, it may be represented as a box. Inputs are fed into it, and output is discharged from it.

5. A production function may also be thought of as a cooking recipe. It lists the ingredients and tells you, say, how many pancakes you will get if you manipulate the ingredients in a certain way. In some recipes, the ingredients must be mixed in fixed proportions. Other recipes allow substitution between the ingredients, as in a pancake recipe that allows milk and oil to be substituted  for eggs. Production functions can be of either of these two types.

Translate the following sentences into English:

1.         Способность  к  предпринимательству –  это  один  из  факторов производства.

2.         Технологии играют важную роль в процессе производства.

3.         Предприниматель     организует      бизнес и          несет   за         него ответственность.

4.         Производство – процесс преобразования вводимых мощностей

(факторов производства) в продукцию.

To get a higher mark, be ready to translate the sentences into English:

1.         Индивидуальный предприниматель вынужден рисковать.

2.         Для производства товаров и услуг необходимы ресурсы.

3.         Выпуск  продукции  должен  соотноситься  с  затрачиваемыми факторами производства.

4.         Современный   бизнес   приносит   большую   выгоду,   так   как ориентирован на повышение производительности.