The production possibility frontier

Негосударственное образовательное учреждение высшего  профессионального образования

МОСКОВСКАЯ  АКАДЕМИЯ  ПРЕДПРИНИМАТЕЛЬСТВА

при Правительстве  Москвы

(НОУ ВПО  МосАП)

Мурманский филиал

 

Факультет Внешнеэкономическая деятельность

Кафедра Мировой и региональной экономики

Специальность Мировая экономика

 

 

 

КОНТРОЛЬНАЯ РАБОТА

 

по дисциплине «Профессиональный английский язык»

                   по теме THE PRODUCTION POSSIBILITY FRONTIER

 

 

 

• Выполнила:  студентка 4 курса

• факультета заочного обучения

•   Кузнецова Л.О. 

•       Шифр:ВС-Д31.

Специальность: Мировая экономика.

 

                                                                               Проверил:

 

 

 

 

 

 

 

 

 

 

 

 

 

Мурманск - 2013

 

CONTENT

I. Suggest the Russian equivalents……………………………………………….3

II. Fill in the gaps with the words and expressions from the text……….3

III. Draw a figure, complete it, mark all the points (from A to G) and              

explain it in English making use of the following phrases………………3

IV. Find English equivalents……………………………………………...4

V. Explain in English……………………………………………………...4

VI. Answer the question…………………………………………………..5

VII. Translate into English using all the active possible…………………6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I. Suggest the Russian equivalents

Самый важный инструмент для экономиста; граница производственных возможностей; максимальное сочетание продукции; привлечь перевод работников

 

 

 

II. Fill in the gaps with the words and expressions from the text

 

1. The production possibility frontier is the most important tool for an economist.
2. This frontier shows the maximum combinations of output that the economy can produce, if it uses all its available scarce resources.
3. To complete a figure of we need to draw together.
4. The line drawn is not, it's. It is this concave curve that is called.
5. The production possibility frontier represents.
6. More of one, food or film, means of the other, and this is because of.
7. It states that if, in, one is increased while the other factors are kept, the stage will be reached where to the increasing factor will produce.
8. The number of workers in the film industry, and so does the film, but on the whole each worker produces additional film.
9. Each transfer in the film industry.
10. That's why a society faces the problem of between, as does not allow it the production of one good without the production of the other.

 

 

III. Draw a figure, complete it, mark all the points (from A to G) and explain it in English making use of the following phrases

 

In this case, the points A, B, C, D, E - points belonging to the CPV. Point G in graphics CPV means incomplete or inefficient use of available resources. Point F (above the curve) is unattainable for a given amount of resources and available technology. To get to this point you can, if you increase the amount of resources used or improve the production technology (for example, to replace manual labor to machine). When driving on the curve can only be one, the best option of motion, which gives the best results at the lowest cost. Production possibility curve shows the set of points or decisions within which you should choose the best option. All other points are missed opportunities or alternative costs.

 

 

 

 

 

 

 

 

 

IV. Find English equivalents

straight line; concave (convex) curve; the curve is said to be the production possibility frontier; alternative choice; the law of diminishing returns; increase (decrease) the output per person; vertical axis; identify; horizontal axis; draw a line connecting all these point; the production factor;  a factor of production; include, imply movement; an additional output

 

V. Explain in English

A trade-off

Economic trade-offs - the category used in the decision making process on the complex issues of business. It is expressed in the calculation to reflect the interests of the various departments of both firms and all companies - participants of the logistics process. However, when the decision is influenced by many variables, the harmonization of interests is achieved not by calculation, but by comparing the qualitative characteristics of firms. 
          Since the distribution of products (transportation, loading, unloading, storage, etc.) are at different points in the supply chain, is based on the theory of compromise, as noted above in order to make the right decisions must take into account the needs of the partnership on the related functions. This means that factors such as, for example, the amount and frequency of deliveries, the size of the forwarding zone and the cost of delivery of materials on a "just in time", should not be considered in isolation.

 

          The law of diminishing returns

 

The law of diminishing returns - the economic law, which states that above certain values ​​of the factors of production (land, labor, capital) increase in one of these factors provides an equivalent increase in income, is income is growing slower than the factor. 
            The law of diminishing returns determines the relationship between the cost in production and manufacturing. In other words, the law of diminishing returns reflects the relationship between the release of additional products and a change in one factor of production for a fixed amount of other factors.

            Explanation of the meaning of the law of diminishing returns would be: additional costs apply one factor (labor) are combined with the same amount of the other factor (land). Consequently, the new additional costs give all less additional output. For example you have an office, where a clerk. Eventually, if you increase the number of clerks, without increasing the size of the room, they will get in the way of each other and possibly costs will exceed revenues.

 

VI. Answer the question

What does the production possibility frontier show?

           The central economic problem - the problem of choosing business solutions in the context of limited resources. The simplest model of the economy - Production possibility frontier - helps to illustrate solutions to key choices: what, how and for whom to produce, as well as to introduce a number of fundamental economic concepts. 
            The production possibility frontier shows the maximum possible output of the two goods, with full use of all available resources. 
            Each point on the curve (the border) production capacity characterizes a combination of the two products. 
            Since resources are limited, and apply the whole, the economy is facing a choice between alternatives. Any increase in production of one commodity demand shift of resources from the production of other goods, is entails a reduction of its production. 
            In economic terms, all have opportunity costs. Opportunity cost of a product or service - the cost, measured in terms of lost opportunities to engage the best available alternative activities that require the same time or the same resources. 
            Increase the opportunity cost of additional units of the goods due to the lack of absolute interchangeability (elasticity) of resources. Due to the fact that the resources do not have the same performance in all possible during their use, there is a need for more resources, to switch from the production of one product to another production.

 

VII. Translate into English using all the active possible

 

 

1. The production possibility frontier - is the limit to make full use of society's resources at the current level of technology, where an increase in the production of one good requires the reduction of the production of another. 
2. This state of the economy can be shown on the graph in the form ¬ de curve representing different combinations of production of goods to the maximum of available resources and the current level of technology. 
3. The graph shows the curve every point of which shows the amount of one good produced by making full use of all the resources in exchange for another benefit. 
4. Point outside the boundaries of production possibilities show the level of production, not achievable with a given amount of resources and available technology. 
5. Point within the boundaries show that production is organized effectively and there are unused resources, such as labor. 
6. It follows the natural conclusion that in today's economy, when unlimited resources, there is little, the development of technology and the significant role of great importance for the economy as a whole.