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Factors of Production: Capital and Labour
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- 2016 год
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Factors of Production: Capital and Labour.
1. Factors of production are resources used by firms as inputs for a good or service to be produced. Factors of production are as follows: capital, labour, and natural resources.
2. In economic theory, the term "capital" refers to goods and money used to produce more goods and money. Classifications of capital vary with the purpose of the classification. The most general distinction is the one made between physical, financial, and human capital.
3. Physical capital is land, buildings, equipment, raw materials; bonds, stocks, available bank balances are included in the financial capital. They both make a great contribution to production.
4. To group capital into fixed capital and circulating capital is common practice. The former refers to means of production such as land, buildings, machinery and various equipment. They are durable, that is, the participate in the production process over several years. Circulating capital includes both non¬renewable goods, such as raw materials and fuel, and the funds required to pay wages and other claims against the enterprise. Non-renewable goods are used up in one production cycle and their value is fully transferred to the final product.
5. Human capital is knowledge that contributes "know-how" to production. It is increased by research and disseminated through education. Investment in human capital results in new, technically improved, products and production processes which improve economic efficiency. Like physical capital, human capital is important enough to be an indicator of economic development of a nation.
6. It is common, in economics, to understand labour as an effort needed to satisfy human needs. It is one of the three leading elements of production. Labour has a variety of functions: production of raw materials, manufacturing of final products, transferring things from one place to another, management of production, and services like the ones rendered by physicians and teachers.
Пояснения к тексту.
Resource - ресурс
Equipment - оборудование
Participate - принимать участие
Disseminate - распространять
Efficiency - эффективность
I. Перепишите и письменно переведите на русский язык следующие предложения. Помните, что объектный и субъектный инфинитивные обороты соответствуют придаточным предложениям.
II. Перепишите и письменно переведите на русский язык следующие предложения. Обратите внимание на перевод зависимого и независимого (самостоятельного) причастных оборотов.
III. Перепишите и письменно переведите на русский язык следующие предложения. Обратите внимание на перевод условных предложений.
IV. Прочитайте и устно переведите с 1-го по 5-ый абзацы текста. Перепишите и письменно переведите 1, 2, 3, 4, 5-й абзацы.
V. Прочитайте 6-й абзац текста и ответьте письменно на следующий вопрос: Which functions does labour have?
выполнена контрольная работа № 4 по английскому языку (вариант 1), состоящая из 5 заданий, среди которых текст на перевод Factors of Production: Capital and Labour
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