Английский язык: Аннотирование и реферирование текста

42 are united in a common cycle, developed and shown for first time in 1758 by the French economist Fran з ois Koenski; this cycle is based on the principle of the blood cycle in the human body. This model can be extended by including the bank system and the government sector. The savings and their investment are supervised by the bank system. The role of the government sector is to distribute the income. The international trade supports the growth of the economic processes and in this way serves as a catalyst for the national production. • National product The total production of a country is called national product. The gross national product consists of the money value of the total annual flow of goods and services in the national economy. It can serve as a measure of the whole economic growth and as a basis for comparison of the economy of different countries. • Free competition In a free market economy, the competition plays an important role as a regulator of all economic activity; in other words, the supply and demand are regulated by the price differences which arise as a re- sult of price differences among manufacturers of goods and suppliers of services. One of the first and most important requirements for the exis- tence of free market competition is the freedom of people to make deci- sions concerning the economy. The country’s constitution and special- ized legislation guarantee the freedom of manufacturing, trade and con- sumption, the right to choose field of realization and work place. The law for protection of competition prohibits all activities which would lead to limitation of the competition in the country. There is a special legal organization – Committee for protection of the competition. The law specifies many illegal activities such as unlawful mo- nopolistic actions, e.g. restriction of the free entry of third Unities in the market, monopoly pricing and etc.