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UNIT 2ECONOMIC SYSTEMS
READING COMPREHENSION
Read the text and make comments, i.e. agreeing or disagreeingwith the ideas presented in the text. Give arguments for youropinions.
Products such as bread, meat, clothing and houses are produced and
sold in every country of the world today. The production methods and
resources are often very similar in different countries and productsare sold in stores which, at least superficially, can look very much
alike. But countries may have very different kinds of economic
systems, despite those apparent similarities. On the other hand, the
basic economic problems confronting human beings in all nations are
similar, irrespective of the economic system they live in.
Economic systems are accepted ways of organising production and
they are concerned with the ownership and control of resources.
Economic activity is conducted in an environment that reflects the
political framework of society. In all nations, economic activity
developed originally in a framework of free enterprise where little
interference was made in the activities of those engaging in it.
In a market economy, sometimes called a free-enterprise economy,
resources are allocated through the price mechanism and the
ownership and control of such important resources as land and capital
are in the hands of private firms and individuals. Property laws give
the owners the right to make decisions concerning access to these
resources and to determine the purpose for and manner in which they
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are to be used. The market solves most of the economic problems and
a system of prices, markets, profits and losses, incentives and rewards
establishes what , how and for whom to produce. The United States,
the countries of the European Union (EU) and Japan (where the
majority of companies are privately owned and controlled) are, to alarge extent, market economies. Market economies are not perfect.
Sometimes, the economy of free enterprise leads, regrettably, to
abuses. In particular, it leads to inequalities of incomes and to various
types of monopoly practices.
The extreme form of the market economy, in which the state has
practically no economic role, is the so-called liberal economy,
subscribing to the political-economic philosophy of "laissez-faire ".
In a command economy, also called a centrally-planned economy,
politically appointed committees plan production and manage the
economy to achieve political goals . Resources are allocated by a
central planning authority. Key industries and resources are owned
and controlled by the state. This system is associated with government
ownership of productive resources and central planning. The state
solves all major economic issues such as creating jobs, managing the
branches of the economy and deciding where the production of goods
and services should go. A command economy differs from a market
economy in two important ways:
the state owns productive resources, including natural resources,
land, factories, financial institutions, retail stores etc.;
authoritarian methods are used to determine resource use and
price.
Modern economies are quite complex and varied and they cannot be
included in the economic systems mentioned above. In fact, most
countries are to some extent mixed economies, with elements
belonging to both the free enterprise and the command economy.
Some free enterprise and market exchange exist in many economies
that define themselves as centralised economies and, at the same
time, many free market economies have government sectors that
provide goods and services, run railroads and other enterprises and
employ a significant percentage of the labour force. In the USA for
example, the market takes decisions but the state plays an important
role regarding the regulation of the markets and the economy in
general.
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VOCABULARY PRACTICE
I. Choose the correct word for the following sentences:
1. Production methods and resources are often very …………………
in different countries.
1. similar 3. rare2. different 4. many
2. Countries may have very ………………. kinds of economic systems.
1. similar 3. identical2. diversified 4. different
3. The United States, the countries of the European Union (EU) and
Japan where the majority of companies are privately owned and
controlled are, to a large extent, …………………………. economies.
1. market 3. command
2. centralised 4. strange
4. Economic systems are accepted ways of ………………… production
and are concerned with the ownership and control of resources.
1. marketing 3. organising2. producing 4. destroying
5. In a ……………economy, a central planning authority allocates
resources.
1. market 3. command2. central 4. global
6. Most countries are to some extent…………………, with elements
belonging to both the free enterprise and the command economy.
1. market economies 3. command economies2. central economies 4. mixed economies
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7. The …………….economic problems confronting human beings in all
nations are similar, irrespective of the economic system they live in.
1. new 3. basic2. central 4. global
8. In the USA, the market takes decisions but the ………….pla ys an
important role regarding the regulation of the markets and the
economy in general.
1. world 3. universe2. state 4. Europe
9. In a market economy, resources are allocated through the
…………. mechanism.1. global 3. cost2. state 4. price
10. In a ……………….economy, the state owns productive resources.
1. command 3. free2. market 4. mixed
II. Match the English words and expressions with their
Romanian equivalents.
1. command economy a) pe de altă parte
2. economic system b) magazin de desfacere
3. environment c) economie mixtă
4. framework d) mediu
5. market economy e) practic
6. mixed economy f) economie de piaţă
7. on the other hand g) proprietar
8. retail store h) economie centralizată
9. owner i) sistem economic
10. virtually j) cadru
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III. Match the following Romanian terms with their English
equivalents and make sentences with them:
1. agent economic 2. cumpărător 3. cheltuială 4. echilibru 5.pierdere
6. preţ 7. preţ de echilibru 8. stimulent 9. vânzător 10. venit
IV. Match the words in the left-hand column with the correct
definitions from the right hand column. Use a dictionary if
necessary.
1. economies of
scale
a) the total well-being of a community
2. equilibrium price b) Gross National Product
3. incentive c) what must be given in exchange for
something usually expressed in terms of a
quantity of money
4. market d) legal right of possession
5. GDP e) a system of government-financed income
transfers to perform a distribution of income
considered desirable
6. GNP f) whenever potential sellers of a good or
service are brought into contact with
potential buyers and a means of exchange is
available
7. ownership g) the price at which a market is in
equilibrium
8. price h) factors that cause the average cost of
producing a commodity to fall as output of
the commodity rises.
9. social security i) something that stimulates someone to act in
a certain way (work harder for example)
10. social
welfare
j) Gross Domestic Product
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V. Read this article from The Economist and then discuss with a
partner the impact of an economic downturn on national
economies.
The economic downturn
Checking the depth gauge
Which of the big rich economies has fared best and worst during the crisis?
FINANCIAL markets and headline-writers pay a great deal of attention to
quarterly GDP growth rates. Forexample, figures released over the pastcouple of weeks have shown thatgrowth has slowed sharply in Americaand Europe in the second quarter,while Japan’s economy has continued
to contract. For citizens of thecountries themselves, however, thelevel of output (and hence income)relative to that before the crisis is whatreally matters, rather than the rate of
growth.
If countries are ranked according to thechange in real GDP since the end of
2007, Canada tops the league, with output in the second quarter estimated to bealmost 3% higher than it was before the crisis. But Canada, like the United States, hasa fast-growing population thanks to immigration, whereas the number of Germans andJapanese has started to shrink. GDP per person is therefore a better measure ofrelative performance.
By this gauge, Canada is still 1% below its pre-crisis level and America is almost 4%down (see chart). Even worse hit are Britain, Italy and Japan, where average income per head was 5-6% below its peak. In contrast, China’s GDP per person rose by animpressive 35% in the same period and India’s was up by 22%. Of the G7 countries
only Germany has managed to get back to where it was at the end of 2007, but eventhere the second-quarter numbers were very disappointing: GDP growth slowedsharply to an annual rate of only 0.5%.
Most economies still have a lot of lost ground to regain, but comparing output nowwith its level before the crisis understates the true depth of their slump. An alternativeyardstick is to compare GDP per person now with what it would have been if it had
continued to grow at the same pace as during the ten years before the crisis. On this basis, not even Germany has yet caught up: it is almost 4% below its trend. America’s
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GDP per person has fallen by 10% relative to trend, but by far the worst hit among theG7 is Britain, with a 13% shortfall. Even that looks mild compared with Ireland,where income per head is now about 25% below its previous (and clearlyunsustainable) trend.
If the shortfall in GDP relative to trend in each year since 2007 is totted up, Americahas suffered a cumulative loss of $4 trillion, equivalent to a stunning $13,000 for each
person. Stock markets and newspapers will cheer when growth rates eventually pickup, but most of the income that has been lost since the crisis began will never berecouped.
The Economist, August 20th 2011
TALKING POINT
1. What do you think economic systems should be concerned with?
2. What type of economic system does Romania have? Give
arguments.
3. What is, in your opinion, the best economic system for a developing
country?
4. What will be the economic systems of the third millennium? Does
technology have any impact on economic systems?
GRAMMAR FOCUS
SUBSTANTIVUL (I)
Substantivul are categoriile gramaticale de gen, număr şi caz iar în
cadrul propoziţiei poate îndeplini funcţia sintactică de subiect, nume
predicativ, apoziţie, atribut sau complement.
In funcţie de diverse criterii , substantivele pot fi clasificate în diverse
moduri. Astfel, după modul de percepere ele pot fi concrete (luăm
cunoştinţă de existenţa lor prin intermediul simţurilor: man ,
university, London, water ) sau abstracte (luăm cunoştinţă de
existenţa lor prin intermediul minţii: beauty, peace, choice, youth,
weather).
După criteriul capacităţii lor d e individualizare , substantivele sunt
substantive comune (denumesc un obiect ca reprezentant al unei
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categorii de exemplare de acelaşi fel: book, bank, friendship ) şi
substantive proprii (denumesc un anumit obiect deosebindu-l de
celelalte exemplare din aceeaşi categorie sau specie: John, Europe,
Romania, the English Channel, the Alps, Thursday, July, the Times ). Inlimba engleză, substantivele proprii se scriu cu literă mare.
Sunt considerate substantive proprii substantivele care denumesc:
a) nume, prenume de persoane Smith, William etc
b) denumire geografice:
- nume de continente Asia, Europe
- nume de ţări the UK, France, Holland- naţionalităţi, limbi Englishman, Pole, Dutch,
Romanian
- teritorii, regiuni, provincii Yukon Territory, Bukovina, the
Lake District
- oraşe, străzi London, New York, Oak street
- insule, peninsule The Canary Islands, the Balkan
Peninsula, Cape Cod
- ape (oceane, mări, fluvii,
lacuri), golfuri, canale,
strâmtori, cascade, curenţi
maritimi
The Indian Ocean, The North Sea,
The Nile, Lake Ontario, The Bay
of Biscay, The Suez Canal, The
Bosphorus Strait, Gulf Stream,
Niagara Falls, The Mariana
Trench
- forme de relief (munţi,
dealuri, câmpii), trecători,
văi, deşerturi, mlaştini
The Himalayas, Chiltern Hill, The
Great Plains, Mont Blank Peak,
The Thames Valley, The Kalahari
Desert, The Marston Moor
- alte denumiri geografice Tropic of Cancer. The Arctic
Circle, The North Pole
c) constelaţii, planete, stele The Milky Way, Mars, The
Morning Star
d) denumiri diverse
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- epoci, etape istorice The Stone Age, The Renaissance
- monumente, obiective
istorice
The Great Wall of China, Saint
Paul Cathedral, Solomon's
Temple- evenimente istorice The Massacre of St.
Bartholomew, The Second World
War, The Chartist Movement, The
Peace of Paris
- alianţe, partide istorice Labour Party, Liberal Party, The
Treaty of Dresden
e) diviziuni ale timpului- timpul standard Atlantic Time, Central European
Time
- lunile anului May, December
- zilele săptămânii Tuesday, Wednesday
- sărbători istorice,
religioase, comemorări
Independence Day, Christmas
Day, Labour Day, Ash
Wednesday
f) nume de instituţii
- teatre, cinematografe The Old Vic Theatre, Covent
Garden, The Capitol Cinema
- hoteluri, restaurante The Ritz, The Savoy
- muzee, biblioteci,
obiective cultural ştiinţifice
The British Museum, The Library
of Congress, Metropolitan
Museum of Art, Academy of
Science
g) edituri, cărţi, reviste, ziare,
publicaţii
Oxford University Press, Critique
of Pure Reason, Economics and
the Banks' Role, The Financial
Times, The Wall Street Journal
h) organizaţii, instituţii,
asociaţii, ligi
World Health Organisation,
Romanian Banking Institute, The
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British Council, Council of
Europe, The League of Arab
States
i) nume de vase maritime Titanic, Queen Elisabeth
Clasificarea substantivelor se poate face şi după ideea de număr. In
acest sens, substantivele din limba engleză se împart două clase,
respectiv în substantivele numărabile şi substantive nenumărabile.
Substantivele numărabile sunt nume de persoane şi lucruri care pot
fi numărate şi care pot fi folosite cu determinanţi ce indică numărul.
Aceste substantive au anumite caracteristici:
a) au forme deosebite pentru
singular şi plural
bank/banks - bancă/bănci
man/men - bărbat/bărbaţi
shelf/shelves - raft/rafturi
b) acordul cu verbul se face în
număr
The child is playing. - Copilul se
joacă.
The children are playing. - Copii
se joacă.
c) pot fi precedate de
determinanţi care indică
numărul (numerale, articolul
nehotărât, articolul zero,
adjective posesive şi
demonstrative)
a/this/that student -
un/acest/acel student
two/several/many books -
două/câteva/ multe cărţi
Substantivele nenumărabile denumesc lucruri sau noţiuni
percepute ca un întreg care nu pot fi prin urmare numărate şi nu pot
fi precedate de determinanţi care indică numărul. O parte din
substantivele nenumărabile însă pot fi uneori măsurate sau pot
deveni substantive numărabile.
Substantivele nenumărabile au următoarele caracteristici:
a) au formă invariabilă paper, tea, news, information,
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Tot din punctul de vedere al ideii de număr , substantivele din limba
engleză se împart în mai multe categorii care la rândul lor se împart
în sub-categorii, conform tabelului de mai jos:
- substantive individuale substantive individuale propriu-zise; substantive individuale
defective
- substantive unice substantive echivalente ale
numelor proprii; nume de
materie; substantive abstracte
unice
- substantive colective substantive colective propriu-zise; substantivele pluralităţii;
substantive individuale ale
pluralităţii
Substantivele individuale propriu- zise au câteva caracteristici:
a) au forme deosebite pentru
singular şi plural
table/tables - masă/mese
child/children - copil/copiib) se pot număra (sunt
numărabile)
a man - un bărbat
three men - trei bărbaţi
c) se acordă în număr cu
predicatul şi cu ceilalţi
determinanţi ai propoziţiei
This book is interesting. - Această
carte este interesantă.
These books are interesting. -
Aceste cărţi sunt interesante.
d) folosite în sensul lor cel maigeneral sunt precedate de :
- articolul hotărât sau
nehotărât la singular;
The/A noun is a part of speech. -
Substantivul este o parte de
vorbire.
- articolul zero la plural Nouns are a part of speech. -
Substantivele sunt o parte de
vorbire.
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NOTĂ
Fac excepţie:
- substantivele man ,woman
Man is a superior being. - Omul
este o fiinţă superioară.
- anotimpurile Summer is the warmest season. -
Vara este cel mai cald anotimp.
- mesele zilei We have breakfast every morning
at home. - Luăm micul dejun
acasă în fiecare dimineaţă.
Substantivele individuale defective au fie doar formă de singular
fie doar formă de plural.
A. Substantive individuale defective cu formă doar de PLURAL
Ele pot denumi:
a) articole de îmbrăcăminte
alcătuite din 2 părţi
trousers - pantaloni
slacks - pantaloni sport
pyjamas - pijama
b) obiecte şi ustensile alcătuite
din 2 părţi
binoculars - binoclu
compasses - compas
scales - cântar, balanţă
scissors - foarfece
tongs/pliers - cleşte
B. Substantive individuale defective cu formă doar de SINGULAR
Sunt de diverse categorii advice - sfat/sfaturi
furniture - mobilă
information - informaţie/informaţii
luggage - bagaj/bagaje
NOTE
1. Substantivele defective
pot fi numărate prin
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asocierea cu un
numerativ de tipul:
- a pair of = o pereche de
-
a piece of = un/o - an item of = un/o
(pentru substantivele
din categoria B)
a pair of spectacles - o pereche de
ochelaria piece of advice - un sfat
an item of information - o
informaţie
2. Substantivele defective se
acordă cu predicatul în
număr (cele cu formă desingular cu verbul la
singular iar cele cu formă de
plural cu verbul la plural)
Where are my binoculars? - Unde
îmi este binoclul?
Your piece of information has been very helpful. - Informaţia ta mi-a
fost de mare folos.
3. Substantivele defective
sunt precedate de articolul
zero dacă sunt folosite în
sensul lor general.
Tails are worn on special
occasions. - Fracul se poartă în
ocazii deosebite.
Useful information is always
appreciated. - O informaţie utilă
este întotdeauna apreciată.
Substantivele unice cuprind substantive nenumărabile pentru că o
parte dintre ele denumesc substantive bine individualizate iar altele
nume de materii şi substanţe.
e.g. the Cosmos – cosmosul, silver – argint, the Government –
guvernul, nitrogen - azot
Substantivele echivalente ale numelor proprii se comportă ca şi
substantivele proprii, ele fiind substantive percepute ca "unicat". Au şi
ele o serie de caracteristici:
a) sunt substantive comune,
numărabile
the Earth - pământul
the world - lumea
the present/past/future -
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prezentul/trecutul/viitorul
nature - natura
paradise - paradisul
the east - estulb) au doar formă de singular
deci nu pot reprezenta o clasă
de obiecte
The earth is round. - Pământul
este rotund.
Hell is paved with good
intentions. - Iadul este pavat cu
bune intenţii.
c) se acordă cu predicatul la
singular
Nature is ours and we must
protect it. - Natura este anoastră şi trebuie să o protejăm.
Substantivele nume de materii
Această categorie include substantivele care denumesc nume de
materii sau substanţe care nu pot fi numărate ci doar apreciate
cantitativ. Au următoarele caracteristici:
a) sunt substantive comune
nenumărabile, cu formă doar de
singular
coffee - cafeasalt - sarepaper - hârtiecotton - bumbac
b) nu se pot număra, se pot
doar aprecia cantitativ
much coffee - multă cafea
little sugar - puţin zahăr
c) se acordă cu predicatul la
singular
This meat is lean and tender. -
Carnea aceasta este slabă şi
fragedă.
d) folosite în sens general sunt
precedate de articolul zero
Honey is good for health. -
Mierea este bună pentru
sănătate
NOTE
1. Câteva substantive nume de
materii au doar formă de plural
şi deci verbul se acordă la
plural
lees - drojdie
dregs - sedimente
sweepings - gunoaie
Spirits are not on my taste. -
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Băuturile tari nu sunt pe gustul
meu.
2. În următoarele cazuri unele
nume de materii se pot folosi şi
la plural, cu verbul tot la plural:
- când sunt percepute ca
varietăţi, feluri, soiuri
Romanian wines are famous for
their quality. - Vinurile
româneşti sunt vestite pentru
calitatea lor.
- când se pune accentul pe
cantitate urmărindu-se
obţinerea unor efecte stilistice(plurale stilistice)
The waters of the lake were
calm.
Substantivele abstracte unice sunt substantive percepute ca o
singură noţiune şi abstracţiunile (denumesc o calitate, acţiune sau
stare la treapta sa cea mai înaltă de generalizare sau abstractizare).
Au următoarele caracteristici:
a) sunt un grup mare de
substantive care pot denumi:
- noţiuni unice music - muzică
philosophy - filozofie
art - artă
- calităţi, însuşiri swiftness - iuţeală idleness - leneblackness - calitatea de a fi negrukindness - amabilitate
- stări, acţiuni coming - venire
thinking - gândire
expectation - aşteptare
tranquillity - calm
- sentimente pity - milă
mercy - îndurare
patriotism - patriotism
cowardice - laşitate
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b) când se face referire la
varietăţile, felurile respectivului
substantiv
the philosophies of the ancient
world - filozofiile lumii antice
the joys of life - bucuriile vieţii
2. Un număr relativ restrâns desubstantive abstracte unice au
doar formă de plural, dar acordul
cu verbul se face la singular. Ele
denumesc:
a) unele boli cum sunt:
mumps - oreion
measles - pojarrickets - rahitism (cu verbul la
singular sau plural)
Mumps is a contagious and
infectious viral disease. -Oreionul este o boală virală,
infecţioasă şi contagioasă.
b) unele jocuri precum:
bowls/skittles - popice
dominoes - domino
marbles - bile
cards - joc de cărţi
billiards - biliard
Marbles is a game for children.
Jocul cu bile este un joc pentru
copii.
c) ştiinţe şi obiecte de studiu
terminate in -ics
economics – ştiinţa economică
cybernetics - cibernetică
mechanics - mecanică
mathematics – matematică
Economics was my favourite
subject in school. - Economia a
fost materia mea favorită la
şcoală.
N.B.
Unele nume de ştiinţe se pot
folosi şi cu verbul la plural
atunci când se are în vedere
latura lor concretă, practică
The acoustics of this concert hall
are excellent. - Acustica acestei
săli de concert este excelentă
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Substantivele colective include substantivele care sugerează prin
conţinutul lor lexical o totalitate de elemente componente de acelaşi
fel.
Substantivele colective propriu zise au formă de singular, darconţinutul lor lexical sugerează ideea de plural prin elementele
componente (fiinţe umane). Ele au următoarele caracteristici:
a) au formă de singular dar
exprimă ideea de plural
crew - echipaj
family - familie
assembly - adunare
crowd - mulţime
committee - comitetgovernment - guvern
party - partid
jury - juriu
people - popor
b) acordul cu verbul se face la
plural accentul punându-se pe
elementele alcătuitoare, nu pe
întregul în sine (nu pot fi însă
însoţite şi de determinanţi la
plural)
The audience have never
forgotten Pavarotti's concert at
Covent Garden. - Spectatorii n-au
uitat niciodată concertul lui
Pavarotti la Covent Garden.
NOTĂ
La origine, majoritatea acestor
substantive sunt substantive
individuale; când sunt văzute ca
un întreg iar substantivul
respectiv devine numărabil, se
pot acorda cu verbul la singular
sau plural
My family is made up of five. -
Familia mea este compusă din
cinci membri.
The two governments have
reached an agreement. - Cele
două guverne au ajuns la un
acord.
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Substantivele pluralităţii (Nouns of multitude) au formă de
singular dar conţinutul lor lexical sugerează ideea de plural. Au
următoarele caracteristici:
a) sunt folosite numai cu înţelesde plural
people - lume, oameninobility - aristocraţie
police - poliţie
infantry - infanteria
clergy - clerici
cattle - vite
b) se acordă la plural cu verbul
şi cu determinanţii lor
The police have not arrested the
burglars. - Poliţia nu i-a arestatpe hoţi
many clergy - mulţi clerici
c) pot fi precedate de numerale four hundred cavalry - patru
sute de cavalerişti
Substantivele individuale ale pluralităţii pot urma fie regimul
substantivelor individuale fie pe cel al substantivelor pluralităţii. Au
următoarele caracteristici:
a) au formă de singular dar, în
funcţie de context, înţelesul lor
poate fi singular sau plural deşi
le lipseşte marca formală
pentru plural
fish - peşti
trout - păstrăv
salmon - somon
swine - porcine
sheep - oi
deer - căprioare
pair - pereche
head - cap
b) se acordă în număr cu verbul
şi determinanţii, în funcţie de
intenţiile vorbitorului
That sheep does not belong to
this flock. - Această oaie nu
aparţine acestei turme
Thirty sheep are grazing in the
field. - Treizeci de oi pasc pe
câmp.
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NOTE
1. Unele au şi o formă de
plural, marcat prin -s dar se
folosesc rar
deer - deers
trout - trouts
pike - pikescod - cods
2. Adesea pluralul în -s indică
specii sau varietăţi ale genului
We studied the herrings of the
North Atlantic Ocean. - Am
studiat varietăţile de heringi din
Atlanticul de Nord.
Unele substantive provin din alte părţi de vorbire, respectiv dinadjective sau participii verbale.
Substantive provenite din adjective :
an Asian/ Asians - un asiatic /asiatici
a native /natives - un băştinaş/băştinaşi
a sweet/sweets - o bomboană/bomboane
Spanish - limba spaniolă
the beautiful - frumosul
the young - tineretul
the public - publicul
the present - prezentul
the good - cei răi
the rich - cei bogaţi
the poor - cei săraci
the needy - cei nevoiaşi
Substantive provenite din participii verbale :
the injured - răniţii
beginning - început
the accused - acuzaţii
the unemployed – şomerii
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EXERCISES
I. Give the plural of the following nouns:
1. analysis 2. bank 3. phenomenon 4. datum 5. salmon 6. child
7. curriculum 8. people 9. advice 10. editor-in-chief 11. series
12. mouse 13. money 14. water 15. information 16. economics
17. hair 18. account 19. economy 20. banknote 21. man 22.
roof 23. damage 24. life 25. tooth 26. coffee 27. weather 28. ox
29. institution 30. coin 31. looker-on 32. fish 33. business 34.
goose 35. misunderstanding 36. woman 37. calf 38.unemployment 39. potato 40. basis 41. nucleus 42. criterion 43.
portfolio 44. crisis 45. bread 46. glass 47. swine 48. wife 49.
ladybird 50. loan
II. Translate into English the following nouns and give the
plural where possible:
1. bani 2. şomer 3. consum 4. roşie 5. păstrăv 6. mediu 7. teză
8. oaie 9. poliţie 10. hoţ 11. oreion 12. familie 13. sănătate 14. aur
15. ştiinţa economică 16. fruct 17. roman 18. cifră 19. conţinut 20.
vara 21. pantaloni 22. bagaj 23. ochelari 24. pământ 25. frumosul
26. juriu 27. şah 28. limba engleză 29. sediu 30. carusel 31.
jumătate 32. fiu 33. munca 34. ţară 35. zăpadă 36. busola 37.
secol 38. mobilă 39. căprioară 40. vamă 41. afacere 42. creştere
43. teorie 44. echilibru 45. preţ 46. fluctuaţie 47. monedă 48. pian
49. lucrător 50. timp
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III. Read the text below and underline all the nouns:
As the Bretton Woods system of fixed exchange rates began to show
signs of strain in the late 1960s, many economists recommended thatcountries allow currency values to be determined freely in the foreign
exchange market. When the governments of the industrialised
countries adopted floating exchange rates early in 1973, they viewed
their step as a temporary emergency measure and were not
consciously following the advice of the economists then advocating a
permanent floating-rate system. So far, however, it has proved
impossible to put the fixed-rate system back together again: the dollarexchange rates of the industrialised countries have continued to float
since 1973.
The advocates of floating saw it as a way out of the conflicts between
internal and external balance that often arose under the rigid Bretton
Woods exchange rates. By the mid-1980s, however, economists and
policymakers had become more sceptical about the benefits of an
international monetary system based on floating rates. Some critics
describe the post-1973 currency arrangements as an international
monetary “nonsystem”, a free-for-all in which national macroeconomic
policies are frequently at odds. Many observers now think that the
current exchange rate system is badly in need of reform.
(International Economics, Paul R. Krugman, Maurice Obstfeld, 2000, New
York, Addison Wesley Publishing Company)
IV. Explain the meanings of the following nouns:
1. colours 2.glasses 3.spirits 4.spectacles 5.quarters 6.compasses
7.customs 8.effects 9.forces 10.grounds 11.letters 12.manners
13.pains 14.returns 15.premises 16.minutes.
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V. In groups of four give as many nouns as you can think of and
say which category they belong to, according to the idea of
number.
VI. Form abstract nouns from the following words:
selfish
cautious
polite
modestscarce
coward
guilty
cruelly
brave
destroy
obey
choose
tempt
deduct
WRITING TASK
VII. Write a short composition on any topic and use as many
nouns as possible. Underline all the nouns in your work.
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