International trade

International trade is the exchange of goods and services between different countries. Depending on what a country produces and needs, it can export – send goods to another country and import – bring in goods from another country.

Governments can control international trade. The most common measures are tariffs or duties and quotas. A tariff is a tax on imported goods, and a quota is the maximum quantity of a product allowed into a country during a certain period of time. These measures are protectionist as they raise the price of imported goods to ‘protect’ domestically produced goods. Protectionism is no longer the order of the day in most places; even if some developing countries argue that protectionist measures are the way to get their economies going, they avoid using the term.

Over the last 50 years trade barriers have been coming down and free trade, open borders and deregulation now form the ideal for almost all nations, even if the situation is far from one of complete laisser-faire, with no government intervention.

Of course, there are trading blocks with no trade barriers at all such as the single market of the European Union (EU). The WTO, North American Free Trade Organization or NAFTA (the US, Canada and Mexico), EFTA, their equivalents in Asia – ASEAN, Latin America – MERCOSUR regulate tariff walls, customs duties and reduce trade restrictions between member countries.

II. Выберите правильный вариант ответа на вопросы к тексту.

1. What is foreign trade?

a) foreign trade is barter

b) foreign trade istheexchange goods and services between nations

c) foreign tradeisthetrade without restrictions

2. What are the advantages of international free trade?

a) open borders, deregulation, laisser-faire, single market, trading blocks

b) protectionism, intervention, dumping, quotas, tariffs

c) trade restrictions

3. How is named the trading block in North America?

a) EFTA

b) NAFTA

c) WTO

III. Закончите предложения по содержанию прочитанного текста.

4. The restriction of imports into a country by imposing duties or quotas, designed ___.

a) to protect domestic industries against overseas competition

b) to protect foreign companies

c) to improve connections between countries

5. Some developing countries argue that protectionist measures are _________.

a) the way to know countries better.

b) the way to get their economies going, they avoid using the term.

c) the way to cooperate with different countries.

6. There are trading blocks _________.

a) with trade barriers

b) with duties and tariffs

c) with no trade barriers at all

IV. Подберите эквивалент к данному русскому слову или словосочетанию.

7. транспортная накладная

a) bill of exchange b) bill of landing c) shipping note

8. невмешательство в экономику

a) protectionism b) intervention c) laisser-faire

9. счет-фактура

a) invoice b) proforma c) insurance

10. товарооборот

a) revenue b) benefit c) turnover

11. партия товаров

a) goods b) consignment c) products

12. торговыеограничения

a) limits b) restrictions c) rules

13. таможенная пошлина

a) duty b) tariff c) tax

V. Выберите соответствующее определение данным словам и терминам.

a) protectionism b) quota c) free trade d) subsidy e) laisser-faire f) trade barriers g) tariff h) international trade

14. a policy advocating the minimization of government intervention in a market economy

15. a limit on the quantity of imports

16. a tax on goods coming into a country or going out of it

17. trade without restrictions on the movement of goods across borders

18. external trade or foreign trade

19. the restriction of imports into a country by imposing duties or quotas, designed to protect domestic industries against overseas competition

20. money that is paid by a government or organization to make something cheaper to

buy, use or produce

21. something that makes trade between two countries more difficult or expensive

VI. Прочитайте предложения и укажите соответствует ли данное утверждение действительности: если соответствует напишите после предложения T- true, если не соответствует то F- false, при этом письменно подтвердите ваш ответ примером из текста.

22. Protectionist measures raise the price of imported goods to ‘protect’ domestically produced goods.

23. Over the last 50 years trade barriers have been coming up.

24. In foreign trade there are trading blocks so the countries can trade without restrictions.

VII. Выберите правильную видовременную форму глагола.

25. As we ……… an inventory control, there is a backlog in processing orders.

a) have carried out b) had been carrying out c) have been carrying out

26. We …. just …… an invoice for the goods we wanted.

a) have received b) has received c) had received

27. ….. you …….. Mr. Lee while you’re in Singapore?

a) Are … seeing b) Will … be seeing c) Is … seeing

28. Our recommendations about trade are going …… by the board.

a) to reject b) to be rejecting c) to be rejected

29. Austria and Finland ………… into the European Union in 1995.

a) are accepted b) were accepted c) was accepted

VIII. Заполните пропуски предлогами.

30. The cargo consists …….. four one-ton crates.

a) on b) with c) of

31. It is important to comply …….any special Customs regulations.

a) with b) about c) at

32. Goods are shipped …… sea.

a) of b) on c) by

IX. Заполните пропуски прилагательным или наречием в нужной форме.

33. It now has a …… sales office in Bangalore.

a) little b) smaller c) less

34. India is one of …… exciting long-term market opportunities in the world.

a) the most b) more c) less

35. Company can …… set up a local subsidiary …… a joint venture with a local partner.

a) as ……. as b) so ……. as c) either …… or

X. Переведите текст письменно.