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Английский перевод
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Text 2.1 Economy, Economic Systems, and Economic
1 Introduction. Human existence can hardly be imagined without consumption. People have to consume things goods and services in order to satisfy their wants and needs. But most of the things that people wish to have in order to meet their needs and wants seldom can be found in Nature in a ready-made form. More often than not, people have to produce them using available resources.
2 Economy versus economics. A bad thing about it is that resources used in the production of goods and services are scarce or limited finite, while peoples wants are, on the contrary, unlimited infinite. As a result, the number of goods which can be produced at a given time from available resources is limited too. It is for this reason that a system of distribution based on certain principles must exist in a community to efficiently allocate the available resources and goods among those who want to have them. Consequently, a system of managing the production, distribution, and consumption of goods and services under scarcity is normally called economy or economic system, while a social science involved in studying such systems is called economic theory or economics for short.
3 Economy types. Any economic system refers to the organizational arrangements and processes through which a society makes its production-, distribution-, and consumption decisions as to what to produce, how to produce it, and who gets what is produced. Different economic systems answer these questions differently.
Depending on whether individual economic agents or gove
ment make decisions on the matters of production, distribution, and consumption, market-type and command-type economies may be distinguished. However, in the mode
world neither of the two economy types mentioned above exists in its pure form. All what exists in reality is the mixed-type economy, since economic decisions in a mode
society are actually made by both individual economic agents and...
1 Introduction. Human existence can hardly be imagined without consumption. People have to consume things goods and services in order to satisfy their wants and needs. But most of the things that people wish to have in order to meet their needs and wants seldom can be found in Nature in a ready-made form. More often than not, people have to produce them using available resources.
2 Economy versus economics. A bad thing about it is that resources used in the production of goods and services are scarce or limited finite, while peoples wants are, on the contrary, unlimited infinite. As a result, the number of goods which can be produced at a given time from available resources is limited too. It is for this reason that a system of distribution based on certain principles must exist in a community to efficiently allocate the available resources and goods among those who want to have them. Consequently, a system of managing the production, distribution, and consumption of goods and services under scarcity is normally called economy or economic system, while a social science involved in studying such systems is called economic theory or economics for short.
3 Economy types. Any economic system refers to the organizational arrangements and processes through which a society makes its production-, distribution-, and consumption decisions as to what to produce, how to produce it, and who gets what is produced. Different economic systems answer these questions differently.
Depending on whether individual economic agents or gove
ment make decisions on the matters of production, distribution, and consumption, market-type and command-type economies may be distinguished. However, in the mode
world neither of the two economy types mentioned above exists in its pure form. All what exists in reality is the mixed-type economy, since economic decisions in a mode
society are actually made by both individual economic agents and...
Text 3.1 The Problem of Scarcity
1 Introduction. Economists argue that people are never satisfied with what they have, and practically everyone wants more of something. If we interview people to find out what they think they need, or want, or desire, the list will be very long indeed. It will include all material desires plus non-material desires, such as love, affection, companionship, power, prestige, and leisure. In contrast to our wants and desires, the resources such as time, money, or goods we have at hand to satisfy our desires or achieve our goals are scarce otherwise, finite or limited.
2 Scarcity is universal. Because wants are unlimited, and resources are not, scarcity exists everywhere and at any point in time. Scarcity is an inescapable fact of our life, like gravity. Neoclassical economists argue that it is scarcity that makes the world go round. In a world without scarcity, there would be no economics!
3 What, exactly, is scarcity? The word scarcity comes from the word scarce, which means the amount available is limited or, alte
atively, the available amounts are not completely unlimited. Consequently, scarcity, in the economic sense, means not having sufficient resources to produce enough to fulfill unlimited subjective wants. Both of the following qualifications, thus, must be met if something is going to be called scarce in terms of economics: a people must want it, and b the amount of it must be limited.
4 Scarcity is a relative concept. Whether a thing is scarce or free is not an inherent characteristic of the thing itself. Its scarcity is relative to how much it is wanted by people, and how much of it is available at a given time. Scarcity can thus be defined as the condition that exists whenever the things resources, goods, and services available to people are limited relative to the wants and desires for them.
5 A measure of relative scarcity is price. The signal that indicates the relative scarcity of the resources necessary to...
1 Introduction. Economists argue that people are never satisfied with what they have, and practically everyone wants more of something. If we interview people to find out what they think they need, or want, or desire, the list will be very long indeed. It will include all material desires plus non-material desires, such as love, affection, companionship, power, prestige, and leisure. In contrast to our wants and desires, the resources such as time, money, or goods we have at hand to satisfy our desires or achieve our goals are scarce otherwise, finite or limited.
2 Scarcity is universal. Because wants are unlimited, and resources are not, scarcity exists everywhere and at any point in time. Scarcity is an inescapable fact of our life, like gravity. Neoclassical economists argue that it is scarcity that makes the world go round. In a world without scarcity, there would be no economics!
3 What, exactly, is scarcity? The word scarcity comes from the word scarce, which means the amount available is limited or, alte
atively, the available amounts are not completely unlimited. Consequently, scarcity, in the economic sense, means not having sufficient resources to produce enough to fulfill unlimited subjective wants. Both of the following qualifications, thus, must be met if something is going to be called scarce in terms of economics: a people must want it, and b the amount of it must be limited.
4 Scarcity is a relative concept. Whether a thing is scarce or free is not an inherent characteristic of the thing itself. Its scarcity is relative to how much it is wanted by people, and how much of it is available at a given time. Scarcity can thus be defined as the condition that exists whenever the things resources, goods, and services available to people are limited relative to the wants and desires for them.
5 A measure of relative scarcity is price. The signal that indicates the relative scarcity of the resources necessary to...
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