.

Деньги и денежный рынок

Язык: русский
Формат: реферат
Тип документа: Word Doc
46 789
Скачать документ

AeAIUeAE E AeAIAAEIUE

?UIIE.

Aaaaeaiea.

?aaeueiay yeiiiie/aneay aeeciue i?aaenoaaeyao niaie

aeaeaeaiea aeaiaaeiuo iioieia, iaano?a/o oiaa?iui. Ia i?aeoeea
eciaiaiea eiee/anoaa aeaiaa a ia?auaiee , niiniaia nouanoaaiiui
ia?acii iiaeeyoue ia o?iaaiue aeioiaeia e auionea i?iaeoeoeee.

Iiyoiio, iaiaoiaeeii a yeiiiie/aneii aiaeeca
o/eouaaoue aeaiueae, auyniyy i?e/eiu, ii eioi?ui iauanoai i?eiaiyao
aeaiueae, a oaeaea oo ?ieue, eioi?oth iie ea?atho a o?iaia auionea
i?iaeoeoeee, iauai o?iaia oeai e oaiiao eioeyoeee.

I/aiue aaaeiui i?aaenoaaeyaony e oio iiiaio , /oi a
nia?aiaiiii niciaiee > icia/atho i/aiue iiiai . Yoi e neiaie
iauanoaaiiiai iieiaeaiey , e oaeoi? iaoa?eaeueiiai aeaaininoiyiey , e
i?aaeiinueea aeooiaiiai ?acaeoey – e a oi aea a?aiy , – i?e/eia iiiaeo
i?anooieaiee e ii?aeueiiai aeaa?aaee?iaaiey . Iiyoiio acaeyaeu ia yoio
yeiiiie/aneee oaiiiai ?aaeeeaeueii i?ioeaiiieiaeiua – io inoaeaeaiey ,
iai?eia? , ii ?aeeaeiciui iioeaai , aei ainoeuaiey eo
ooieoeeiiaeueiinoueth . (A.Oio).

Enoi?ey aeaiaa ioee/aaony aeeeoaeueiinoueth ,
ni/aoaieai i?ioeaiiieiaeiuo oaiaeaioeee , i?iyaeaieai ia?aaeienia e
/a?aaeiaaieai i?iaeai , /oi naienoaaiii oaeaea e aeaiaaeiiio ?uieo .

Aicieeiiaaiea aeaiaa .

Ia i?ioyaeaiee anae enoi?ee /aeiaa/anoaa aeaiueae
i?eieiaee naiua ?aciiia?aciua oi?iu .A eiioea eiioeia au?aaioaeinue
ii?aaeaeaiea , iiae/a?eeaathuaa yoo iniaaiiinoue :aeaiueae – yoi ethaie
i?aaeiao , iau/ii i?eciaaaaiue e i?eieiaaiue a ea/anoaa n?aaenoaa
ieaoaaea ca oiaa?u e oneoae . A yoii niunea yeiiiie/aneoth enoi?eth
/aeiaa/anoaa iiaeii i?aaenoaaeoue eae aeaeaeaiea io iaiin?aaenoaaiiiai ,
aa?oa?iiai , oiaa?iiaiaia e aeaiaaeiiio ia?auaieth .

Ia ia?auo ii?ao /aeiaa/aneie enoi?ee ionoonoaoao
anaiauee yeaeaaeaio e iineaaenoaey yoiai y?ei iienaiu a eeoa?aoo?a .

I/aaeaeiui iineaaenoaeai noaiiaeeinue cao?oaeiaiea
iaiaia , eiaaea iaeiiio ec iieoiaoaeae ii?aaeaeaiiiai oiaa?a
i?eoiaeeeinue niaa?oaoue ianeieueei aeoia iaiaia , i?aaeaea /ai ii
auiaiyao iiaeoiaeyuee oiaa? .

A naith i/a?aaeue cao?oaeiaiea iaiaia naea?aeeaaao e
?acaeoea i?iecaiaenoaa .

Oaeei ia?acii , aicieeaao i?ioeai?a/ea iauanoaaiiiai
?acaeoey , eioi?ia ioaeaeaaony a naiai ?ac?aoaiee e iiaeiaiia ?ac?aoaiea
aicieeaao ni a?aiaiai , au?aaeaynue a auaeaeaiee ec anaai iiiaiia?aciiai
ie?a oiaa?ia iniaiai oiaa?a , eioi?ue i?eia?aoaao naienoaa anaiauaai
yeaeaaeaioa. ?acoiaaony , auaeaeaiea yoiai oiaa?a ia yaeyaony
?acoeueoaoii niaeaoaiey iaaeaeo ethaeueie eee /ueae-eeai aiee , oioy eo
aeeyiea a eaeie eeai noaiaie aiciiaeii aeiionoeoue . Iaeiaei i?eiyoi
n/eoaoue , /oi yoi a iniiaiii noeoeeiue i?ioeann , i?ienoiaeyuee
iacaaeneii io aiee ethaeae , i?aaaea , iaeuecy io?eoeaoue /oi iie
iuoathony ia iaai iiaeeyoue .

Eiaaea auaeaeyaony eaeie eeai oiaa? , oi ana
inoaeueiua oiaa?u au?aaeatho a iai naith noieiinoue , /oi iaeaa/aao
n?aaiaiea eo iaaeaeo niaie . Ethaee no?aiyony oaia?ue iaiaieaaoueny ia
yoio oiaa? , /oiau caoai aua?aoue n?aaee oiaa?iiai ie?a oio iaueaeo ,
eioi?ue i?aaenoaaeyaony /aeiaaeo eiia/iui , iaiaoiaeeiui aio i?aaeiaoii
iio?aaeaiey .

?ieue anaiauaai yeaeaaeaioa – aeaiaa – auiaaeaao
ia aeieth ii?aaeaeaiiiai oiaa?a ia neo/aeii . Caeanue anoue
ii?aaeaeaiiay caeiiiia?iinoue 1 . Aeaiueaaie noaiiayony aaaeiaeoea
oiaa?u , iieo/aaiua ecaia , io ae?oaeo ia?iaeia . A iaeioi?uo neo/ayo
aicieeatho ia?aaeienu :a /anoiinoe , caiaaeii-aa?iiaeneea na?aa?yiua
iiiaou ia auee a oneiaeyo enoi?e/anee iaiaa c?aeuo o?aaeeoeeiiiuo
iaiiauo ioiioaiee ia auee aeaiueaaie , a yaeyeenue iaeiei ec iiiaeo
oiaa?ia . Eo auiaieaaee ia aeey oiai , /oiau niiaa ionoeoue a
ia?auaiea ?aaee eaeiai-oi ae?oaiai aieaa ioaeiiai oiaa?a , a aeey oiai
, /oiau o?aieoue eo a ea/anoaa oe?aoaiey . I?aaaea , A.A.Aieeei ioia/aao
, /oi yoi – yecioe/aneea i?eia?u , yaeyaoeany eneeth/aieai a enoi?ee
aeaiaa .2

Eae i?aaeei , aeaiaaeiua ooieoeee cae?aieeenue ca
oiaa?ii , eioi?ue yaeyeny aaaeiui i?aaeiaoii i?iecaiaenoaa e a
cia/eoaeueiie noaiaie neoaeee i?aaeiaoii ?uii/iiai iaiaia a aeaiiie
ianoiinoe . Oae , a ae?aaiae Eneaiaeee o ia?iaea ii?aoiaeia e ?uaaeia ,
aeaiueaaie auea ?uaa : oeaiu oiaa?ia en/eneyeenue a oooeao o?anee . Ai
iiiaeo no?aiao , ia/eiay n ae?aaiaeoeo a?aiai , aeaiueaaie aue neio –
aieiau e?oiiiai ?iaaoiai neioa eee iaaoe . A ae?aaiae ?one eiyaeaneay
eacia iacuaaeanue neioieoeae , a eacia/ae – neioieeii , oioy a eacia
o?aieeenue oaea ia oieueei auee e ei?iau , a iaoa e neeoee na?aa?a .

Aeaiueae iaeiiai aeaea ni a?aiaiai auoanieee aeaiueae
ae?oaiai aeaea . Neio , iai?eia? , aeiaieueii ?aii aue caiaiai ae?oaeie
oiaa?aie , eae aieaa oaeiaiuie :iai?eia? , aaniaui eiee/anoaii niee .

A iaeioi?uo neo/ayo iiaeiaiua oiaa?u nio?aieee
ooieoeee aeaiaa a n?aaieoaeueii ?acaeoii iauanoaa , anee iii iaoiaeeony
a eaeeo-oi iniauo oneiaeyo . A Aia?eea XVIII aaea > aue ooio oaaaea , /oi a iauai-oi iiiyoii aeey oao , eoi
ia?aaeee aiaiiua e iineaaiaiiua a?aiaia a naiia iaaeaaiaa a?aiy . Eiaiii
a iiaeiaiua ia?eiaeu a?aiaie i?ienoiaeeo eiiaaea noeoeeiue aica?ao e
eniieueciaaieth oaeeo oiaa?ia a ea/anoaa yeaeaaeaioa a oiaa?iii iaiaia.

Iaeiaei iaaeno?aeueiue iooue ?acaeoey aeaiaa eiie .
Aeaei a oii , /oi o oiaa?a , niiniaiiai auiieiyoue ooieoeee aeaiaa,
aeieaeiu auoue ii?aaeaeaiiua naienoaa . Ai-ia?auo , yoi iaeii?iaeiinoue
e ?aaiiea/anoaaiiinoue . Ai-aoi?uo , i?i/iinoue e nio?aiyaiinoue
.A-o?aoueeo , yeiiiie/aneay aeaeeiinoue .A-/aoaa?ouo, eiiiaeoiinoue ,
ii?oaoeaiinoue , aunieay noieiinoue a aaeeieoea aana eee n/aoa . A-iyouo
, aeaiaaeiue oiaa? aeieaeai iaeaaeaoue n?aaieoaeueii iinoiyiiie
noieiinoueth , ia neeoeii caaenyueo io eai?ecia iiaiaeu e ae?oaeo
neo/aeiuo niauoee .

O oao aeaiaa , eioi?ua oaea oiiieiaeenue , ana yoe
naienoaa ionoonoaiaaee . Yoi ianoiyoaeuenoai nicaeaaaei aieueoea
cao?oaeiaiey . Iii i?aiaeieaaaeinue auaeaeaeaieai ia ?ieue aeaiaa
iaoaeeia . Ecaanoiu iaaeiua aeaiueae . Eiathony naaaeaiey e i ieiayiiuo
aeaiueaao . Ii yoe iaoaeeu a naienoaao aeaiaa ai iiiaii onooiatho
aeaiueaai ec ae?aaioeaiiuo iaoaeeia . I?e/ai iie iaeaaeatho aua e oaeei
naienoaii , eae ynoaoe/iinoue .

Iaaeaeo oai , yoo oi/eo c?aiey eiiaaea ii?iaa?aatho .
iiae/a?eeaay , /oi eiaiii ii i?e/eia naiae oaoie/aneie e oaoiieiae/aneie
aaniieaciinoe cieioi e na?aa?i noaee aeaiueaaie. Iaeiaei i?ioea yoiai
noaeaeaiey oaeaea auneacuaathony aic?aaeaiey .1 Ie iaeei oiaa? ia iiaeao
noaoue aeaiueaaie , anee ii ia iaeaaeaao iieaciinoueth ,
iio?aaeoaeueneie noieiinoueth .A yoii ioiioaiee cieioi e na?aa?i eiaee
oeaiiinoue oaeiai ?iaea i?e i?iecaiaenoaa ?aciiai ?iaea oe?aoaiee e
i?aaeiaoia ?ineioe . Iaeiaei caeanue niiaa aicieeaao ia?aaeien – iaeuecy
ia aeaeaoue eiio?anoa iaaeaeo iaia?aie/aiiie e anaiiae/eiythuae
aeanoueth , eioi?oth i?eia?aoaao cieioi , e ia?aie/aiiinoueth aai
iio?aaeoaeueiie noieiinoe . Cieioi ia oaeiaeaoai?yao ia iniiaiua
iio?aaiinoe /aeiaaea . Yoio eiio?ano iuouaaony oaea a ae?aaiae eaaaiaea
i o?eaeeneii oea?a Ieaeana , eioi?iai aiae iiea?aee ?ieiaui aea?ii :ana
, e /aio ii i?eeanaeny , i?aa?auaeinue a cieioi . Noaa iaaiia?aceii
aiaaoui , ii, iaeiaei , ieue , e aiciiaeiinoe iieueciaaoueny ae?oaeie
i?aaeiaoaie iio?aaeaiey .

Oai ia iaiaa , eiaiii yoi – oi , /oi aauanoaaiiay
oi?ia yoeo iaoaeeia au?aaeaeanue a ecaeaeeyo ia ia?aie iaiaoiaeeiinoe ,
– i?aaeiieaaaao ioiineoaeueii eaaeee ia?aoiae a aeaiaaeioth oi?io . I?e
iaaeinoaoea aeaiaa iiaeiaiiai oeia a ia?auaiee , iie ia?aieaaeythony ec
ecaeaeee a iiiaou . I?e ecauoi/iii aeaiaaeiii ia?auaiee aeaai?iaeiua
iaoaeeu ia?aoiaeyo ec oi?iu aeaiaa a thaaee?ioth noa?o . Iiaeiaiui
ia?acii iaania/eaaaony yeanoe/iinoue aeaiaaeiiai ia?auaiey , /oi
yaeyaony i/aiue aaaeiui ea/anoaii n oi/ee c?aiey yeiiiie/aneiai ?acaeoey
.

Aeaai?iaeiua iaoaeeu iicaieytho ia?aeoe e aaniaiio
oeio aeaiaa . Yoi iaeaa/aaony anoanoaaiiui oece/aneei naienoaaie cieioa
– eaaeinoueth , eiaeinoueth , niiniaiinoueth i?eieiaoue ethaoth oi?io .

Iaeiaei nai iaoa?eae aua ia ?aoaao anao i?iaeai .
Iaiaoiaeeii oi/ii ii?aaeaeeoue eiee/anoai aeaai?iaeiiai iaoaea, oaeaea
aaaeii ii?aaeaeyoue e aai ea/anoai . Eia/a , aiai?y i?iaeaia ninoieo a
oii /oi ecia/aeueii a oicyenoaa ionoonoaotho aeaai?iaeiua iaoaeeu a
aeaea aioiauo oaeinoiaa?aiiuo e aa?aioe?iaaiiuo eai-eeai , eaeei-oi
aaoi?eoaoiui i?aaiii aaniauo eiee/anoa . Yoa i?iaeaia ?ac?aoaaony
aeaaiaea?y aaaaeaieth /aeaiiuo iiiao eioi?ay , i?aaenoaaeyao niaie
iaeioi?ia aa?aioe?iaaiiia eiee/anoai iaoaeea .

Ieiei 500 eao aei iaoae y?u ia?neaeneee oea?ue Aea?ee niaa?oee
yeiiiie/aneoth ?aaiethoeeth a naiai ainoaea?noaa , aaaaey a ia?auaiea
iiiaou 1 . Aicieeiiaaiea e ?acaeoea iiiaou caiyei a iauae neiaeiinoe
i?iaeieaeeoaeueiia a?aiy .

Cieioi e na?aa?i a iiiaoao yaeythony
i?aeiouanoaaiiie oi?iie aeaiaa a ?aiiai eaieoaeecia .

Au?aaeaiea noieiinoe aeaiaa a ii?aaeaeaiiuo
eiee/anoaao eae cieioa , oae e na?aa?a , iieo/eei iacaaiea
aeiaoaee/aneee noaiaea?o . Aai ooieoeeiie?iaaiea eiaao iniaaiiinoe ,
io?aaeaaiua caeiiii A?aoaia 2 .

Yoio caeii a iiioey?iie oi?ia cao/eo oae :> . I?e
aeiaoaee/aneie iiiaoiie nenoaia > yaeythony oa aeaiueae ,
noieiinoue eioi?uo ia ?uiea oeaiiuo iaoaeeia ieaea eo ioeoeeaeueiie
aeaiaaeiie noieiinoe , a > yaeythony oa aeaiueae , eioi?ua
noiyo aei?iaea naiae ioeoeeaeueiie oeaiu . Oae, anee ia?eoao ( iiae
iiiaoiui ia?eoaoii i?e aeiaoaee/aneii noaiaea?oa iiieiaaony ioiioaiea
ioeoeeaeueiie noieiinoe aaniaie aaeeieoeu cieioa e ioeoeeaeueiie
noieiinoe oaeie aea aaeeieoeu na?aa?a ) onoaiiaeai 16 e 1 , ii ?uii/iay
iaiaiiay i?iii?oeey ana aua inoaaony ?aaiie 15,5 e 1 , oi oaeoe/anee
onoaiaaeeaaaony cieioie noaiaea?o e noieiinoue cieioa a oi?ia aeaiaa
aoaeao i?aauoaoue aai noieiinoue a eiuo oi?iao , /ai aeaiueae , iiyoiio
na?aa?yiua iiiaou ia/ioo en/acaoue ec ia?auaiey , oi anoue ethaee eo
i?ei?y/oo , ia?aieaayo eee yenii?oe?otho .

A ia?aie iieiaeia aeaayoiaaeoeaoiai aaea n/eoaeinue ,
/oi yienney iiiao n ?aaeueiui iaoaeee/aneei niaea?aeaieai iaiueoei , /ai
iiieiaeueiay noieiinoue – yoi iaiai . N/eoaeinue , /oi eacia ia aeieaeia
iieo/aoue i?eauee io yiennee iiiao . Oa?iei iaicia/athuee oaeoth
i?eaueue – naiuei?aae – iiyaeeny a n?aaeiea aaea . Iiyaeaiea
iieiioeaiiuo iiiao – iiiao niaea?aeaueo ae?aaioeaiiue iaoaee a
eiee/anoaa , niioaaonoaothuai aa iiieiaeueiie noieiinoe – iaaeaeo oai
ii?iaeaeaao ii?aaeaeaiiua i?iaeaiu 3 .

.

Anee oeaia iaoaeea , ec eioi?iai naeaeaiu iiiaou , ?anoao , oi a
?acoeueoaoa eo eiee/anoai noaiiaeoueny ia?aie/aiiui , oae eae /anoiua
eeoea eniieuecotho eo aeey oiai , /oiau ecaea/ue i?eaueue , e a eoiaa a
ia?auaiee inoaaony eeoue iiiaeanoai eiino?aiiuo iiiao n iaiueoei
iaoaeee/aneei niaea?aeaieai .

Aoiaaeiua aeaiueae iiyaeeenue a Eeoaa a VIII aaea
iaoae y?u (aoiaaa oai auea i?iecaaaeaia i?eaeeceoaeueii a 100 a.i.y.) 1
.Iaeaieaa ?aiiee oei aoiaaeiuo aeaiaa a Eeoaa i?aaenoaaeye niaie
aeaiaaeiua ?anienee , auioneaaiua eeai iiae oeaiiinoe , naeaaaaiua ia
o?aiaiea a niaoeeaeueiua eaaee , eeai a ea/anoaa naeaeaoaeuenoa ia
oiea/aiiuo iaeiaao , o?aiyueony ia n/aoao a oeaio?ao i?iaeioeee . Ia?ei
Iiei ienae , /oi auione aoiaaeiuo aeaiaa – yoi iiaue niinia aeinoeaeaiey
oie oeaee , e eioi?ie oae aeaaii no?aieeenue aeoeieee .2 A XIII aaea
i?aaeoaeuenoai *eiaec – Oaia naiaiaeii iaiaieaaei aoiaaeiua aeaiaaeiua
ciaee ia cieioi , iiyoiio iiaeaeaeea aoiaaeiuo aeaiaa auea niiniaia
i?eianoe aieueoea aeioiaeu , ii n/eoaeanue aiueoei i?anooieaieai .

Iaeiaei caeii A?aoaia aeaenoaoao ia oiia aeeeoaeueiie
oaiaeaioeee , eioi?ay eiaao , i?ioeaiiieiaeiia aeaeaeaiea : aieaa
oeaiiue iaoae auoaniyao iaiaa oeaiiue3 . Nia/aea aeaiueaaie ia?anoaea
neoaeeoue iaaeue , caoai na?aa?i . Ai aoi?ie iieiaeia aeaayoiaaeoeaoiai
– ia/aea aeaaaeoeaoiai aaea cieioi noaei aaeeiiee/iui aeiieie?othuei
iaoaeeii , onoaiiaeeanue nenoaia cieioiai noaiaea?oa .

Ii /ai aieueoa oe?aieyeinue cieioi a ?iee
aeaiaaeiiai iaoaeea , oai aa?iaa neeaaeuaaeenue oneiaey aeey aai
auoaniaiey.?a/ue eaeao i auoaniaiee cieioa e?aaeeoii-aoiaaeiuie
aeaiueaaie .

Aeaei a oii , /oi a ?acaeoee aeaiaa nouanoaoao e?iia
?anniio?aiiie e ia?aoiay oaiaeaioeey : io cieioa e aeaoaaui y?caoeai ,
niiniaiinoue eioi?uo iaiaieaaoueny ia ana i?i/ea oiaa?u auoaeaao ia ec
eo aioo?aiiae noieiinoe , a eo ia?aie/aiiuo ?acia?ia auionea e
i?eaeaaaaiiai ei ainoaea?noaaiiie aeanoueth noaoona .

Ii oi?ia yoi aeaiueae ciaee , aeaiueae neiaieu .Oaeiaa aea ii naiae
nouiinoe iniiaa ia?auaiey ?aciaiiuo iiiao ec iaaeaai?iaeiuo iaoaeeia –
iaaee , ieeaey , aethieiey : eo i?eieiatho ia ?aaee oeaiiinoe iaoaeea ,
a ii oie i?e/eia /oi ainoaea?noai iinoaaeei ia ieo naie ooaiiaeue .

Ana aeaeu aeaiaa , ia eiathueo aioo?aiiae oiaa?iie
noieiinoe , iaicia/athony ?iaeiaui iiiyoeai e?aaeeoii-aoiaaeiuo aeaiaa .
Eiiaaea eo iacuaatho oeaeooeea?iuie (o.a. iniiaaiiuie ia aeiaa?ee
)aeaiueaaie . Iie aunooiatho ia?aiia/aeueii eae caianoeoaee eee
i?aaenoaaeoaee cieioa . Iaeiaei a aeaaaeoeaoii naycue
e?aaeeoii-aoiaaeiuo aeaiaa n cieioii auea iieiinoueth ?aci?aaia .

Iinoiyiiui niooieeii e?aaeeoii-aoiaaeiiai ia?auaiey
ieacuaaaony eioeyoeey . Eiaaea yoe aeaiueae ia ?aciaiiu ia cieioi ,
i?ienoiaeeo ecauoi/iue auione aeaiaa a ia?auaiea , eioi?ue a naith
i/a?aaeue aaaeao e iiauoaieth oiaa?iuo oeai , /oi ?aaiicia/ii
iaanoeaieaaieth aeaiaa , eee eioeyoeee .

Ooieoeee aeaiaa .

Ooieoeee aeaiaa i?iyaeythony oaeaea enoi?e/anee.
Iaeaieaa iieiia ?acaeoea anao ooieoeee aeaiaa i?ienoiaeeo a oneiaeyo
iaoaeee/aneiai aeaiaaeiiai ia?auaiey .Auaeaeythony neaaeothuea ooieoeee
:

aeaiueae eae n?aaenoai ia?auaiey

aeaiueae eae ia?a noieiinoe

aeaiueae eae n?aaenoai iaeiieaiey

ooieoeey ieaoaaeiiai n?aaenoaa

ooieoeey ie?iauo aeaiaa

Aii?in i auaeaeaiee ii?aaeaeaiiuo ooieoeee aeaiaa e eo ea?a?oee iiaeii
ioianoe e /eneo aeeneonneiiiuo . Ii iauay eiioeaioeey ia yoio n/ao
?ac?aaioaia . I?e/ai a ii?aaeaeaiee ooieoeee aeaiaa ?ane?uaaao ,
niaea?aeaiea nenoaiu , a eioi?ie niaea?aeeony ii?aaeaeaiea aeaiaa eae
iauanoaaiiiai oaiiiaia .

Aeaiueae eae n?aaenoai ia?auaiey. Cia/aiea aeaiaa eae
n?aaenoaa ia?auaiey iaoneiaeaii , oai /oi iie iicaieytho ioeacuaaoueny
io aa?oa?iie oi?aiaee eae ianniaiai i?ioeanna 1 . A?iiicaeeee i?ioeann
aa?oa?a ia iicaieyao ?acaeaeeoue aeo iieoiee e aeo i?iaeaaee .

No?oeoo?a aeaiaa eae n?aaenoaa ia?auaiey aeeth/aao
iiiaou , aoiaaeiua aeaiueae e /aeiaua aeaiiceou .Yoi naiay oceay ec
iauaoiio?aaeiuo eaoaai?ee aeaiaa , iaicia/aaiay iau/ii neiaieii I 1. Ana
aeaiueae ec yoie eaoaai?ee iiaoo eniieueciaaoueny eae n?aaenoai iaiaia 1
.

Ni?in ia aeaiueae aeey niaa?oaiey naeaeie a ia?aoth
i/a?aaeue caaeneo io oaeeo oaeoi?ia , eae iaueai niaa?oaaiuo iieoiie ,
/anoioa auieaou ca?aaioiie ieaou , a?aiy , ioaaaeaiiia aeey oieaou ii
n/aoai , ?aaoey?iinoue i?aaeueyaeaiey yoeo n/aoia e iieaoa e
aeinooiiinoue caaiiuo aeaiaaeiuo n?aaenoa .

Iaueai niaa?oaaiuo iieoiie caaeneo io o?iaiy ?acaeoey
oi?aiaee e niaoeeaeecaoeee . Eiaaea aieueoeinoai naiae aaaeoo
iaoo?aeueiia oicyenoai e ii/oe ia o/anoaotho a oi?aiaea , oi iie ia
ioaeaeathony a n?aaenoaao ia?auaiey . Ii ia?a ?acaeoey eiiia?oeee e
i?iiuoeaiiinoe oneeeaaaony e niaoeeaeecaoeey , /oi aaaeao e
cia/eoaeueiiio ?inoo iaueaia caeeth/aaiuo naeaeie .

Caiaia iaoaiecia aa?oa?iuo naeaeie iaoaieciii ,
eniieuecothuei aeaiueae eae n?aaenoai ia?auaiey , i?eaiaeeo e nieaeaieth
ecaea?aeae ia?auaiey . Aeaiaaeiue iaiai o?aaoao ai?acaei iaiueoeo
oneeee e a?aiaie , /ai aa?oa? .Nieaeay ecaea?aeee ia?auaiey , aeaiueae
noeioee?iaaee ?acaeoea niaoeeaeecaoeee e oi?aiaee , e oaeei ia?acii ,
niinianoaiaaee iauaio ?inoo aeaaininoiyiey iauanoaa . ?acaeoea iaaueia
e ?acaeoea oaeaioia , yaeeenue ?acoeueoaoii ?inoa niaoeeaeecaoeee ,
cia/eoaeueii iiaeeyee ia ?ino iauaai aeeciaiiiai o?iaiy .

Aeaiueae , /oiau iie oi?ioi auiieiyee ooieoeeth
ia?auaiey , aeieaeiu n aioiaiinoueth , aani?aiyonoaaiii i?eieiaoueny
eaaeaeui noaueaeoii iaiaia . I?eaieaiinoue aeaiaa caaeneo io aioiaiinoe
e aeaeaiee ianaeaiey eo eniieueciaaoue2 . Ecaanoiu neo/ae , eiaaea
aaaaeaiea iiauo oeiia iaee/iuo aeaiaa a aeaai?iaeiuo oeaeyo oiaiueoeoue
o?aicaeoeeiiiua ecaea?aeee ii niaaaeaieth ianaeaiey aeaiueaaie
ieii/eeenue iaoaea/ae 3 . Ooiy i?e iaueyniaiee yoie iaoaea/e ia i/aiue
/aoei auyaeyaony acaeiinaycue i?e/eiu e neaaenoaey . Oae ,
ooaa?aeaeaaony , /oi iaeiie ec i?e/ei iaoaea/e auei oi , /oi iiaua
aaieiiou eaaei auei niooaoue ni noa?uie e /oi , ethaee i?aaeii/eoatho
aaieiiou n aieueuae ?acieoeae iiieiaeia , /ai i?aaeiieaaaeinue a aeaiiii
neo/aa ( 1aeieea? ) . Iaeiaei i?aaenoaaeyaony /oi , iaueyniaiea aiiaua
ia aeinoeaaao o?iaiy iinoaaeaiiie i?iaeaiu , oeene?oy ii?aaeaeaiiua
aiaoiea aa i?iyaeaiey , iaiaeiaaaeiua , ii oai ia iaiaa , i?iecaiaeiua
aieaa aeoaieeo iniiaaiee . Yoi noaiiaeony ynii , eiaaea ia?auaaoueny
ei aoi?iio iaueyniaieth : /oi iiiaea ii/aio-oi n/eoatho , /oi iiaua
-aeaooaeieea?iaua aaieiiou i?eiinyo ian/anouea 1 .

Iaaeaeo oai , i?aaenoaaeyaony , /oi i?aaeaea anaai
neaaeoao ioeacaoueny i?e aiaeeca iiaeiaiuo oaiiiaiia io aano?aeoiiai
iiieiaiey > . Eae ieieioi yoo ianno , neaaeoao ?acaeaeeoue ia
i?iaeaaoeia e iieoiaoaeae . A oiaaea , noaiao ia iiiyoiui , ii/aio aea
iieoiaoaeae ia ono?aeaaei oi , /oi iie iiaee au iieo/eoue auaiaeo ,
iaiaiya ii ioeaea , aaieiioo iaiueoaai iiieiaea ia aaieiioo aieueoaai
iiieiaea . Auaiae iiaeao auoue oieueei iaeei – aeaiiay no?oeoo?a ia
oaeiaeaoai?yea ia aiiaua ethaeae , a i?iaeaaoeia , eiiia?naioia ,
eioi?ua aeaenoaeoaeueii , a neo/aa ioeaee , iiaee iiianoe iioa?e , aieaa
iuooeiua , iaaeaee iio?aaeoaeae a ioaeaeueiinoe

Oai aieaa , /oi e aiciiaeiinoae aeey iinoaiiaee aa?uea?ia ?aoi?iai ,
ionoue e ia noieue ianooaaiui , e eioi?ui i?eaueee a ?innee , o
i?aaei?eieiaoaeae aieueoa , /ai o iio?aaeoaeae-iieoiaoaeae , oioy e
aiciiaeiinoe iineaaeieo a aeaea ?acee/iuo aeaeaeaiee e i?aaiecaoeee ia
neaaeoao i?aoiaiueoaoue .

Ai-aoi?uo , i?aaenoaaeyaony , /oi anee eiiia?/aneay
?aeeaia iiaeao iaieioee?iaaoue auai?ii oiaa?ia , a ecae?aoaeueiay –
auai?ii i?aceaeaioia e aoaa?iaoi?ia , oi aeaeeii , i?aaiecaoi?u
iiaiaaaaeaiey iineoieeenue ia i?iaeaeaeaiea naiaai i?iaeoa , /oi
iniaaiii aaaeii , oae eae ia?aoiae e nenoaia en/eneaiey io aeanyoe/iie
e aeaie/iie ( aaaaeaiea eoith?u aeinoieinoaii a 2 aeieea?a )
ii?iaeaeaao i?aae?annoaeee , eae yoi i?ienoiaeeo /anoi a ioiioaiee
a?aiaie , eiaaea a /ana ia 100 , a 60 ieioo , ii aae?oa yoi i?eau/iia
ianoiyoaeuenoai noaiiaeony iaiaeeaeaiiui ioe?uoeai .

Oai aieaa , /oi oniaoiua neo/ae oaeiai ?iaea
ia?ii?eyoee i?aaeiieaaatho aaeieieno?aoeaiua aeaenoaey . Oae ,
a?eoaineia i?aaeoaeuenoai , auioneay a ia?auaiea iaeaiueeoth iiiaoo
aeinoieinoaii a iaeei ooio noa?eeiaia , i?ae?aoeei auione
niioaaonoaothueo aaieiio , e ianaeaieth inoaaaeinue auneacuaaoue eeoue
iaiaeia?eoaeueiua iocuau1 .

Aeueoa?iaoeau aeaiaaeiiio ia?auaieth , iaaeaeo oai ,
iinoiyiii nouanoaoao a ?aca?aiii ninoiyiee . Oae , aa?oa? ia oieueei
nio?aiyaony , ii e aic?iaeaeaaony . Iai?eia? , a no?aiao n
eneeth/eoaeueii aunieei o?iaiai eioeyoeee , oi?aiaey n iiiiuueth aa?oa?a
iiaeao auoue aieaa i?aaeii/oeoaeueiie , /ai eniieueciaaiea aeaiaa . E
aa?oa?iui oi?iai ioiinyo aeiiieieoaeueiua auieaou e ?acee/iua eueaiou ,
i?iaeeeoiaaiiua aaaaeaiea aeaaii?eyoiiai iaeiaiaiai ?aaeeia . Ecaanoii ,
/oi a iaeioi?uo ?aeiiao NOA nouanoaotho oae iacuaaaiua aa?oa?iua neoaeau
, caieiathueany i?aaiecaoeeae aa?oa?iuo naeaeie , eniieuecoy aeey yoiai
nia?aiaiiua eioi?iaoeeiiiua oaoiieiaee , oai aieaa , /oi aiciiaeiinoe
eo ooieoeeiie?iaaiey iaoneiaeaiu eiaiii i?eiaiaieai eiiiuethoa?iie
ia?aaioee eioi?iaoeee , iicaieythuae ?aaeeeaeueii nieceoue ecaea?aeee
ia?auaiey , aiiaua ia i?eaaaay e iiiiue aeaiaa 2 .

Ae?oaei aeueoa?iaoeaiui aeaiaaeiui ia?auaieth
aa?eaioii yaeyaony i?eaaaaiea i?aaeoaeuenoaa e ?ani?aaeaeaieth oaeiiia .
?acoiaaony , o?oaeii ?ani?aaeaeeoue oaeiiu ia ana aeaeu i?iaeoeoia
i?iecaiaeeiua a nia?aiaiiii iauanoaa . E?iia oiai , iiaeiaiia
?aoeeiie?iaaiea ia?aie/eaaao iio?aaeoaeueneee auai? e oi?acaeiyao
aii?in i ee/iuo i?aaeii/oaieyo . A i?aeoeea ?uii/iie yeiiiieee
?aoeeiie?iaaiea i?eciaaony eae , ninoaaiay /anoue i?aaeoaeuenoaaiiie
iieeoeee ii oaea?aeaieth oeai ia ieceii o?iaia a ia?eiae , eiaaea
oeiaine?iaaiea aiaiiuo ?anoiaeia i?eaiaeeo e ?inoo eioeyoeee3 . Aac
oaeiai ?aoeeiie?iaaiey oeaiiaie eiio?ieue i?eaae au e anoanoaaiiiio
iiyaeaieth aeaoeoeeoa . N iiiiuueth iieeoeee ?aoeeiie?iaaiey
i?aaeoaeuenoai eiio?iee?oao iaueaiu ?aoeeiie?iaaiuo iinoaaie . N/eoaaony
, /oi ai a?aiy Aoi?ie ie?iaie aieiu a NOA ?aoeeiie?iaaiea
aeaenoaiaaei aiieia yooaeoeaii , oae eae ianooaau /a?iuo ?uieia auee
iaaaeeee4 . Aiaeec iiaeiaiie iieeoeee a Niaaoneii Nithca a iaaeaaiai
i?ioeii i?eaiaeeo e auaiaeo i neaaeothueo i?iaeaiao 5 . Ai-ia?auo ,
/?acau/aeii o?oaeii aeiaeoueny oiai , /oiau eiee/anoai oaeiiia a
oi/iinoe niioaaonoaiaaei eiathuaiony eiee/anoao oiaa?a .

Ai-aoi?uo , aieueoeinoai oaeei nenoai ?aoeeiie?iaaiey a eoiaa
?ac?ooaaony , ia niioaaonoaoy ee/iui iio?aaiinoyi , a oaeiiu oa?ytho
naie niaoeeoe/aneee oa?aeoa? e noaiiayony aua iaeiei aeaeii aeaiaa ,
/oi icia/aao oo?aoo i?aeiouanoa ?aoeeiie?iaaiey e onoaoaeaiey iaoaeianoa
aeaiaaeiiai ia?auaiey .

Aeaiueae eae ia?a noieiinoe . Ii yoiio aii?ino
nouanoaoao iaiaeiicia/iua o?aeoiaee . N iaeiie noi?iiu , ?a/ue eaeao i
oii , /oi iai?eia? , cieioi e na?aa?i naie yaeythony oiaa?aie e
noieiinoue eioi?uo nicaeaaony o?oaeii e ii?aaeaeyaony eiee/anoaii
iaiaoiaeeiiai aeey eo i?iecaiaenoaa o?oaea 1 . Yoi iicaieyao ecia?eoue
eie noieiinoue ae?oaeo oiaa?ia . Niioiioaiey , ii eioi?ui ana yoe
oiaa?u iioaioeeaeueii iaiaieaathony ia ae?aaioeaiiua iaoaeeu , nooue
eo oeaiu . I?e yoii ioia/aaony , /oi aeaiueae auiieiytho oaeaea
oaoie/aneoth iiaeooieoeeth ianooaaa oeai , aeaaay eae au oeaeo
aeey au?aaeaiey aaniauo eiee/anoa iaoaeea .

Ae?oaea iiaeoiaeu iiaeiaioth i?iaeaio o?aeootho
eae ooieoeeth aeaiaa a ?iee n/aoiie aaeeieoeu 2 , eee n?aco a iau/iii
iiieiaiee i ianooaaa oeai3 . Iiaeii i?aaenoaaeoue naaa neooaoeeth,
eiaaea iniiaiie aeaiaaeiie aaeeieoeae a ia?auaiee yaeyaony iaeia
aaethoa , a ?aaeueiue ianooaa oeai ecia?yaony a aaeeieoeao ae?oaie
aaethou .I?e/eiie yoiio , e?iia iayeiiiie/aneeo oaeoi?ia , iiaeao noaoue
eioeyoeey e iiaeiaiia ?acaeaeaiea ooieoeee ia?u noieiinoe e n?aaenoaa
ia?auaiey ?anoeaieaathony eae aeiaieueii ino?ioiiue iooue i?eniiniaeaiey
e auno?ie eioeyoeee . Oeaiu ia ?ano?nu , au?aaeaiiua a eioeyoeeiiiuo
aeaiaaeiuo aaeeieoeao , oa?yee niune , oae iie oeene?iaaee ia naiii
aeaea a?aiy i?eia?aoaiey ?ano?nia , /ai eo ioiineoaeueioth noieiinoue .
A ae?oaeo aea – iaeioeyoeeiiiuo – ia?ao noieiinoe aieaa oi/ii
au?aaeaeenue ioiineoaeueiua oeaiu ?acee/iuo ?ano?nia .

I?aaeoaeuenoai ethaie no?aiu iiaeao onoaiiaeoue
ii?aaeaeaiiue ianooaa oeai , i?iaaaey aeaiaaeioth ?aoi?io . I?aeoeea
i?iaaaeaiey oaeeo ?aoi?i aiai?eo i oii , /oi iie inouanoaeythony a
oeaeyo nieaeaiey eioeyoeee aei ?acoiiiai o?iaiy . I?aaeoaeuenoai i?e
yoii ecuiaao /anoue aeaiaa ec ia?auaiey . Aaaeii i?e yoii
niaethaeaiea eioa?ania ianaeaiey .

Oeaeaniia?acii n yoie oeaeueth aeiee?iaaoue ii?aaeaeaiiua noiiu ia
n/aoao n auaea/ae oeooeia nianoaaiiinoe ia yoe n/aoa , ii aac i?aaa
i?eia?aoaoue ia ieo oiaa? e oneoae1 . A ae?oaeo neo/ayo ?aoi?ia
iai?aaeaia i?ioea /a?iiai ?uiea e oaiaaie yeiiiieee, iineieueeo
i?eieiaaony , /oi aieueoia eiee/anoai noa?uo aaieiio ia oaeia aea
eiee/anoai aaieiio n iiaui iiieiaeii iaiaiyoue a onoaiiaeaiiua aeey
i?iaaaeaiey ?aoi?iu n?iee ia oaeanony .

E iiaeiaiiai ?iaea ia?ii?eyoeyi iaiaoiaeei
eiiieaeniue iiaeoiae , eia/a iiaua aeaiueae i?eaaaeoo e iiaiio anieaneo
eioeyoeee .

Aeaiueae eae n?aaenoai iaeiieaiey .

Yoa ooieoeey iiae?acoiaaaao , /oi aeaiueae i?aaenoaaeytho niaie
niaoeeoe/aneee aeoea , nio?aiyaiue iinea i?iaeaaee oiaa?ia e
oneoa , e iaania/eaathuee aai aeaaeaeueoeo iieoiaoaeueioth
niiniaiinoue a aoaeouai . Iaeiaei ni?aaaaeeeai ooaa?aeaeaiea , /oi
ethaia eiouanoai i?e niioaaonoaothueo ianoiyoaeuenoaao iiaeao auoue
iaiaiaii ia ae?oaea aeaaa1 .

Iaeiaei aeaiueae iaeaieaa iiaeoiaeyo aeey yoie
ooieoeee iineieueeo iie ioee/athony eeeaeaeiinoueth . Aeaiueae – yoi
eeeaeaeiia (eaaei?aaeecoaiia) eiouanoai . Iie ii ii?aaeaeaieth
iaeaaeatho niaa?oaiiie eeeaeaeiinoueth2 .

Iie iiaoo auoue eniieueciaaiu eae n?aaenoai ieaoaaea e iineieueeo iie
auiieiytho ooieoeeth ia?u noieiinoe , oi ia eciaiytho naiae nianoaaiiie
iiieiaeueiie noieiinoe a oa?ieiao ianooaaa oeai . Anai inoaeueiui aeaeai
aeoeaia eeeaeaeiinoue i?enoua eeoue a aieueoae eee iaiueoae noaiaie .3

Iaeiaei ianiio?y ia naith niaa?oaiioth eeeaeaeiinoue,
aeaeathooth aeaiueae eaeaaeueiui n?aaenoaii iaeiieaiey , iie a yoii
ea/anoaa eiatho e iaaeinoaoie. Yoi eo

naienoai yooaeoeaii ia i?ioyaeaiee ei?ioeeo ia?eiaeia a?aiaie . A oi
a?aiy eae aeaaeaeueoeu aeaiaaeiuo aeoeaia /anoi i?eoiaeeony aea?oaiaaoue
oai aeioiaeii , eioi?ue iia au auoue iieo/ai i?e eniieueciaaiee iaiaa
eeeaeaeiiai aeoeaa . Aeaiueae iiaoo i?eiineoue aeioiae , anee
?aniieaaathony ia aaieianeeo n/aoao , ii a oi aea a?aiy aeioiae iiaeao
auoue auoa ii ae?oaei aeaeai aeoeaia – iaeeaaoeeyi , aeoeeyi e.o.i. A
oao no?aiao aaea aaeeea eioeyoeey ( aeia?eioeyoeey , eiaaea aiaeiaay
ii?ia eioeyoeee i?aainoiaeeo o?iaaiue 1000% )1 , ianoiay aaethoa iiaeao
/anoe/ii ia eniieueciaaoueny eae n?aaenoai iaeiieaiey , a oaeaea eae
ia?a noieiinoe .

A ea/anoaa ieaoaaeiiai n?aaenoaa aeaiueae aunooiatho
eae i?oaeea i?aaeinoaaeaiey e?aaeeoia e iiaaoaiey aeieaia ,
inouanoaeaiea anyeiai ?iaea ioeiaeaiiuo ieaoaaeae . Iaeiaei yoa
ooieoeey aeaiaa ia yaeyaony noieue nouanoaaiiie , iineieueeo ?acia?
ieaoaaea ii aeiaiai?o iiaeao auoue onoaiiaeai a oi?iao ia aeaiaaeiuo .

Ooieoeey ie?iauo aeaiaa au?aaeaaony /a?ac i?oaeey
iaaeaeoia?iaeiuo ?an/aoia , ia?aianaiea noieiinoe ec iaeiie no?aiu a
ae?oaoth .

Aeaiaaeiue ?uiie .

Naoue einoeoooia , iaania/eaathueo acaeiiaeaenoaea
i?aaeeiaeaiey e ni?ina ia aeaiueae , iau/ii iacuaaaony aeaiaaeiui ?uieii
. Iaeiaei eniieueciaaoue yoio oa?iei neaaeoao n iaiai?eaie . Aeaei a oii
, /oi oa?iei > icia/aao ?uiie e?aoein?i/iuo
aunieieeeaeaeiuo oeaiiuo aoiaa. Ai-aoi?uo , neaaeoao iiae/a?eiooue , /oi
aeaiueae , > e > a oii aea niunea ,
/oi i?iaeathony e iieoiathony oiaa?u . I?e naeaeeao ia ?uiea aeaiaa ,
aeaiueae iaiaieaathony ia ae?oaea eeeaeaeiua aeoeau ii aeueoa?iaoeaiie
noieiinoe , ecia?aiiie a aaeeieoeao iiieiaeueiie ii?iu i?ioeaioa . Eae e
ia ethaii eiii ?uiea , ?aaiiaanea ia aeaiaaeiii ?uiea eiaao ianoi a
ia?ana/aiee e?eauo ni?ina e i?aaeeiaeaiey . ?aaiiaanea ia ?uiea aeaiaa
icia/aao , ?aaainoai eiee/anoaa aeaiaa , eioi?ua aaaiou oioyo nio?aieoue
a naieo ii?ooaeyo aeoeaia , eiee/anoao aeaiaa , i?aaeeaaaaiiio
Oeaio?aeueiuie aaieaie , i?e inouanoaeaiee oaeouae aeaiaaeii-e?aaeeoiie
iieeoeee .

I?aaeiieiaeei , /oi ?aaiiaanea i?e caaeaiiii
aeaiaaeiii i?aaeeiaeaiee aeaiaa eiaao ianoi i?e iiieiaeueiie ii?ia
i?ioeaioa ?aaiie 10% , oiaaea i?e i?ioeaioiie noaaea 8% nio?aiyaony
aeueoa?iaoeaiay noieiinoue o?aiaiey aeaiaa e oicyenoaaiiua aaaiou
ia/ioo i?iaeaaaoue naie aeueoa?iaoeaiua aeaiueaai aeoeau -oaeaea , eae
iaeeaaoeee – no?aieeenue oaaee/eoue naie aeaiaaeiua naa?aaeaiey a eo
/enoii aeaea . Iinooiay oaeei ia?acii , iie iiieaeatho ?uii/iua oeaiu ia
yoe aeaeu aeoeaia , e aianoa n oai , oaaee/eaatho iauee aeioiae io
?uii/iuo i?iaeaae. Anee i?aaeiieiaeeoue , /oi ii?ia i?ioeaioa
iiaeiyeanue aei 12,5% , oi oicyenoaaiiua aaaiou i?aaeii/ee au
aea?aeaoue iaiueooth noiio a oi?ia aeaiaa ec iauae aaee/eiu naieo
ii?ooaeae aeoeaia , oioy nouanoaiaaee au aeaiaaeiua ?aca?au . Iie iiaee
au auoue aeoeaece?iaaiu ?anoe?aieai ianooaaia e?aaeeoiuo iia?aoeee
iin?aaenoaii i?aaeeiaeaiee caaiueeai aieaa i?eaeaeaoaeueiie ii?iu
nnoaeiiai i?ioeaioa .

Ia?ana/aiea e?eauo i?aaeeiaeaiee e ni?ina ia ?uiea
aeaiaa oeacuaaao oi/eo ?aaiiaaney ?uiea , a eioi?ie oicyenoaaiiua
aaaiou aeaeatho o?aieoue a naieo ii?ooaeyo aeoeaia eae ?ac oi
eiee/anoai aeaiaa , eioi?ia niiniaia i?aaeeiaeeoue aaieianeay nenoaia
i?e i?iaaaeaiee oaeouae e?aaeeoii-aeaiaaeiie iieeoeee . Anee ii?ia
i?ioeaioa i?aauoaao o?iaaiue ?aaiiaaney , oicyenoaaiiua aaaiou ia
caoioyo aea?aeaoue a naieo ii?ooaeyo oi eiee/anoai aeaiaa , eioi?ia a
yoio iiiaio i?aaeeaaaaony aaieianeie nenoaiie . Aeaenoaey ,
i?aaei?eiyoua oicyenoaaiiuie aaaioaie e aaieaie n oeaeueth
i?eniiniaeaiey naieo ii?ooaeae aeoeaia e eciaieaoeiny oneiaeyi ,
iiieaeatho ii?io i?ioeaioa aei aeinoeaeaiey ?aaiiaaniiai iieiaeaiey , e
iaiai?io .

.

Aeey inouanoaeaiey ii?aaeaeaiiie
aeaiaaeii-e?aaeeoiie iieeoeee iaiaoiaeeii i?iaaaeaiea ecia?aiey
aeaiaaeiie iannu . Iaeiaei ecia?aiea eiee/anoaa aeaiaa – aanueia
iai?inoia aeaei . I?iaeaia ninoieo a oii , /oi a nia?aiaiiie yeiiiieea
?acee/iua aeaeu aeoeaia iaeiia?aiaiii a oie eee eiie oi?ia auiieiytho
ana ooieoeee aeaiaa . Iiyoiio ia eiaaony /aoeeo iniiaaiee aeey oiai ,
/oiau i?iaanoe a?aieoeo aeey, oiai /oiau iiaanoe a?aieoeo iaaeaeo
nianoaaiii aeaiueaaie e ae?oaeie eeeaeaeiuie aeoeaaie . Ia?yaeo n oaea
oiiieiaaoeiny aa?aaaoii I1 , iaiaoiaeeii auaeaeeoue ia?aiao? I2 ,
eioi?ue aeeth/aao a naay ianeieueei aeaeia aeoeaia , yaeythueieny
eeeaeaeiuie n?aaenoaaie iaeiieaiey .

Iiaeaea?aeaiea i?aaeeiaeaiey aeaiaa a no?aia ia oaeii
o?iaia /oiau, ia aucaaoue ie yeiiiie/aneee niaae , ie eioeyoeeth,
yaeyaony ooieoeeae oeaio?aeueiuo aaieia (Oaaea?aeueiie ?aca?aiie nenoaiu
a NOA) . Aicaeaenoaoy ia yeiiiieeo iin?aaenoaii ?anoe?aiey eie
nie?auaiey iaueaia aeaiaaeiie iannu (i?aaeeiaeaiey aeaiaa) yoe i?aaiu
inouanoaeytho e?aaeeoii-aeaiaaeioth (iiieoa?ioth) iieeoeeo .

Oeaeue e?aaeeoii-aeaiaaeiie iieeoeee ninoieo a oii ,
/oiau nicaeaoue ia aeaiaaeiii ?uiea oneiaey aeey oiai , /oiau a
yeiiiieea iinoiyiii nouanoaiaaea oaeay ianna aeaiaa e e?aaeeoia, eioi?ay
iaiaoiaeeia aeey ?acaeoey , a oai naiui iaania/eoue no?aio ?anoouei
eiee/anoaii oiaa?ia , oneoa , ?aai/eo iano . N ae?oaie noi?iiu
oeaio?iaaiee aeieaeiu neaaeeoue , /oiau a ia?auaiee ia ieacaeinue
neeoeii iiiai aeaiaa e e?aaeeoia , iioiio /oi oaeea eceeoee anaaaea
i?eaiaeeee e eioeyoeee .

Ia iooe inouanoaeaiey e?aaeeoii-aeaiaaeiie iieeoeee
nouanoaotho neiaeiinoe . Iai?eia? , eiaaea iaueai aeaiaaeiie iannu
oaaee/eaaaony e a ia?auaiea iinooiaao aieueoa aeaiaa , oi iie aeaoaaatho
e aaiee iiaoo nieceoue i?ioeaioioth noaaeo ii e?aaeeoai. Ii ?anoouaa
i?aaeeiaeaiea aeaiaa ia ?uiea iiaeao iiaea/ue ca niaie oaaee/aiea
?anoiaeia e oai naiui iiauneoue o?iaaiue eioeyoeee . A ia?eiaeu
eioeyoeee oa aeaiueae , eioi?ua caaiueee auiea/eaatho e?aaeeoi?ai ,
eiatho aieaa ieceoth iieoiaoaeueioth niiniaiinoue , /ai oa , eioi?ua
auee , a naia a?aiy acyou a aeiea . *oiau eiiiaine?iaaoue iioa?th
iieoiaoaeueiie niiniaiinoe , e?aaeeoi?u aeieaeiu aeiaaaeoue
ii?aaeaeaiiue i?ioeaio (niioaaonoaothuee o?iaith eioeyoeee) e oai
noaaeai , eioi?ua iie iacia/eee au a ae?oaie neooaoeee . Iiyoiio anee
?ino eioeyoeee iaoneiaeai ?inoii aeaiaaeiie iannu , oi oaeoe/anee iiaeao
i?eaanoe e iiauoaieth i?ioeaiiuo noaaie .

Aeey i?iaaaeaiey iiiaoa?iie iieeoeee a oneiaeyo NOA
Oaaea?aeueiay ?aca?aiay nenoaia ?aniieaaaao /aou?ueiy iniiaiuie
eino?oiaioaie :

— eciaiaiea o?iaiy ?aca?aiuo o?aaiaaiee ;

— eciaiaiea i?ioeaioiuo noaaie , eioi?ua aeieaeiu ieaoeoue aaiee ,
aa?y e?aaeeou o oeaio?aeueiiai einoeoooa (o/aoiay noaaea)

— iieoiea e i?iaeaaea ainoaea?noaaiiuo oeaiiuo aoiaa (iia?aoeee ia
ioe?uouo ?uieao)

— ii?aaeaeaiea oneiaee aeey ?acee/iuo aeaeia caeiia (auai?i/iue
e?aaeeoiue eiio?ieue) .

I?eioeeieaeueiue iaoaieci yoeo o?aaiaaiee i?aaenoaaeai ia noaia .

Aeey oaaee/aiey EINO?OIAIOU Aeey nie?auaiey

aeaiaaeiie iannu
aeaiaaeiie iannu

Oiaiueoeoue ?aca?aiua o?aaiaaiey Oaaee/eoue

Nieceoue O/aoiay noaaea
Iiauneoue

Iieoiaoue Iia?aoeee ia
I?iaeaaaoue

ioe?uoii ?uiea

Ineaaeoue Auai?i/iue Oneeeoue

e?aaeeoiue

eiio?ieue

Ninoaaeaii ii : Nia?aiaiiue aecian .N.268.

Ia?aue eino?oiaio i?aaeiieaaaao , /oi ana aaiee e
oeiainiaua einoeooou nicaeatho ?aca?au , oi anoue ioeeaaeuaaee
ii?aaeaeaiioth noiio aeaiaa , ?aaioth eaeie oi i?ioeaioiie aeiea eo
aeaiiceoia . Aeiey aeaiiceoia , eioi?oth aaiee aeieaeiu ioeeaaeuaaoue a
ea/anoaa ?aca?aia , iacuaaaony ?aca?aiuie o?aaiaaieyie .

Anee oeaio?aeueiue einoeooo i?eoiaeeo e auaiaeo , /oi
ioaeaeueiua iio?aaeoaee e oe?iu neeoeii iiiai iieoiatho e /oi eioeyoeey
iaae?aao neeo , ii iiauoaao ?aca?aiua o?aaiaaiey . Eiaaea iie aic?anooo
, oi aaiee ia niiaoo auaeaaaoue ii -i?aaeiaio nnoaeu naiei eeeaioai e
iaiai?io .

Aaiee iiaoo acyoue aeiiieieoaeueiua n?aaenoaa aeey
e?aaeeoiaaiey naieo eeeaioia , acya aeaiueae a aeiea o ?aaeiiaeueiiai
ioaeaeaiey oeaio?iaaiea , eioi?ue a oeao?aeueiii niunea ea?aao ?ieue
aaiee?a aaieia . I?ioeaioiay noaaea ii e?aaeeoai , eioi?ay
onoaiaaeeaaaony a yoii neo/aa , iacuaaaony o/aoiie (aeeneiioiie) noaaeie
. Oaeea aeeneiioiua iia?aoeee i?eaeaeatho aaiee , eiaaea iie iiaoo
aceiaoue ni naieo eeeaioia aua aieaa aunieee i?ioeaio ca e?aaeeou .

Cia/eo , anee oeaio?aeueiue einoeooo n/eoaao
iaiaoiaeeiui , /oiau auaeaaaeinue aieueoa e?aaeeoia , oi ii nieaeaao
o/aoioth noaaeo e iaiai?io . A oeaeii n/eoaaony , /oi aicaeaenoaea
i?ioeaioiie noaaee ia yeiiiieeo aaaeao e oiio /oi oneeeaaaony
yeiiiie/aneee ?ino . Oae , nieaeaiea n?aaeiae noaaee ia 1% aeaao
i?eaaaeo aaeaaiaeiiai yeiiiie/aneiai ?inoa no?aiu ia 1\ 3 i?ioeaioa .

Iia?aoeee ia ioe?uoii ?uiea inouanoaeythony
iin?aaenoaii eoiee-i?iaeaaee ainoaea?noaaiiuo iaeeaaoeee , eioi?ua
i?aaeoniao?eaatho iaycaoaeuenoai auieaoeoue aeiea n i?ioeaioaie .
Iineieueeo a iiaeiaiii neo/aa ainoaea?noaaiiua iaeeaaoeee iiaeao eoieoue
ethaie aeaeathuee , yoa i?aeoeea iieo/eea iaeiaiiaaiea iia?aoeee ia
ioe?uoii ?uiea .

Anee oeaio?aeueiue oeiainiaue einoeooo iianaaony
eioeyoeee e oi/ao oiaiueoeoue iaueai aeaiaa a ia?auaiee , oi ii
i?iaeaao ainoaea?noaaiiua iaeeaaoeee aaieai e ianaeaieth . Aeaiueae ,
iieo/aiiua ca iaeeaaoeee iiaoo iaiaaeeaiii ecuiaoueny ec iai?ioa . E
iaiai?io , eiaaea yoio einoeooo aiiaue niae?aaony noeioee?iaaoue
iaeeaeaiea a yeiiiieea , ainoaea?noai aueoiaao naie iaeeaaoeee ,e
iiaeiaiui ia?acii a yeiiiieeo iinooiaao aeiaieueii aieueoia
aeiiieieoaeueiia eiee/anoai iaee/iinoe . Ii ia?a oaaee/aiey
i?aaeeiaeaiey aeaiaa nieaeaaony i?ioeaioiay noaaea , e eiiiaiee aa?oo
e?aaeeou a aieueoeo iaueaiao , /oi ?anoe?yao aeey ieo aiciiaeiinoe ?inoa
e oneeeaaao eiieo?aioeeth iaaeaeo ieie .

Iaaeaeo ioaeaeueiuie naeoi?aie ?uii/iie
yeiiiie/aneie nenoaiu nouanoaoao e?oaiiai?io (caieiooue iioie )
aeioiaeia e i?iaeoeoia . A iai a ea/anoaa iaeiae aeeaeeinoe a?auathony
aeaiueae . Caaeneiinoue iaaeaeo aeaiueaaie e e?oaiiai?ioii au?aaeaaony
o?aaiaieai iaiaia :

IV = Py , aaea I – eiee/anoai aeaiaa , iaoiaeyueony
a ia?auaiee , V – nei?inoue ia?auaiey aeaiaa (n?aaeiaaiaeiaia
eiee/anoai ?ac , eiaaea eaaeaeay aeaiaaeiay aaeeieoea eniieuecoaony aeey
i?eia?aoaiey aioiauo oiaa?ia ) , P – o?iaaiue oeai ( ?ann/eouaaaony
ii ioiioaieth e aaciaiio aiaeiaiio cia/aieth , ?aaiiio 1 ) , o –
?aaeueiue aeioiae , oi anoue aeioiae ?an/eoaiiue n o/aoii , aeeyiey
eioeyoeee .

Caaea/e aeaiaaeiuo ?uieia ninoiyo a oii , /oiau
ia?ai?aaeyoue naa?aaeaiey ec ?oe oao yeiiiie/aneeo aaeeieoe , eioi?ua
ca?aaaouaatho aieueoa /ai o?aoyo , a ?oee aaeeieoe eioi?ua o?aoyo
aieueoa /ai ca?aaaouaatho . Ia yoeo ?uieao ooieoeeiie?otho i?yiua eaiaeu
oeiaine?iaaiey , ii eioi?ui n?aaenoaa ia?aoiaeyo iaiin?aaenoaaiii e
caaiueeai a iaiai ia aeoeee e aeieaiaua iaycaoaeuenoaa , eee einaaiiua ,
aaea n?aaenoaa i?ioiaeyo /a?ac oeiainiauo iin?aaeieeia – aaiee ,
acaeiiua oiiaeu , no?aoiaua eiiiaiee .

Oaeoe/anee naaiaeiy nouanoaoao ianeieueei oai?ee
ooieoeeiie?iaaiey aeaiaaeiiai ?uiea . Iaeiie ec ieo yaeyaony
iiiaoa?enoneay oai?ey aeaiaaeiiai ?uiea I.O?eaeiaia e A.Oaa?oea . A oi
a?aiy eae a yeiiiie/aneie iunee aiciaeaaeaei iiaiea , /oi aeaiueae yoi
ia aeaaiia a yeiiiieea , oi I.O?eaeiai naeaeae ae?oaie auaiae :
ai-ia?auo , yoa oai?ey ?anniao?eaaao nei?inoue ia?auaiey aeaiaa eae
ia?aiaiioth aaee/eio , a ia eiinoaioo . Ai-aoi?uo , iiieoa?iay oai?ey
aeiioneaao ianiaiaaeaiea iaaeaeo aeaiaaeiie iannie , iieacaoaeyie
aaeiaiai iaoeeiiaeueiiai i?iaeoeoa e aaniethoiui o?iaiai oeai . Iniiaiay
?aeiiaiaeaoeey a no?aoaaee aeaiaaeii-e?aaeeoiie iieeoeee iiiaoa?enoneie
oai?ee ninoieo a niya/aiee iaaaoeaiuo iiiaioia a oa/aiee aeaeiaiai
oeeeea e oeaio?aeueiua oeiainiaua einoeooou aeieaeiu i?iaiaeeoue a
aeeciue iinoiyiii i?aaeneacoaioth aeaiaaeioth iieeoeeo . Iinoiyiiue ?ino
aeaiaaeiie iannu iaoiaeyuaeny a ia?auaiee , i?eia?ii ?aaiue
o?aoi?ioeaioiiio o?iaith ?inoa ?aaeueiiai iaueaia i?iecaiaenoaa ,
oa?aeoa?iiio aeey aeieain?i/iuo a?aiaiiuo eioa?aaeia , i?aaenoaaeyao
niaie iao/ioth n oi/ee c?aiey aieueoeinoaa iiiaoa?enoia aeaiaaeioth
iieeoeeo .

Iiiaoa?eci yoi oieueei iaeii ec iai?aaeaiee aiaeeca
aeaiaaeiiai ?uiea . Aaaeiue aeeaae a ?acaeoea iiieiaiey aai aii?inia
aianei o/aiea Ae.I.Eaeina e aai iineaaeiaaoaeae , eioi?ia iiaeii
n/eoaoue aeueoa?iaoeaie iiiaoa?ecio .

Aeey oai?ee eceiaeaiiie Ae.Eaeinii a iao/iie ?aaioa
>, aaaeiu acaeyaeu i
iayooaeoeaiinoe aeaiaaeiie iieeoeee e iaiaoiaeeiinoe ?aaoeyoeee e
noeioee?iaaiey yeiiiieee iin?aaenoaii eciaiaiey iaeiaiaie nenoaiu e
no?oeoo?u ainoaea?noaaiiuo ?anoiaeia . Ia naaiaeiyoiee aeaiue eiaao
ianoi neioace?iaaiea , aeeth/athuaa iauea aeey iaaeo oai?ee yeaiaioia .
Niaeanii nia?aiaiiiio eaeineainei-iaieeane/aneiio neioaco ,
aeaiaaeii-e?aaeeoiay iieeoeea e oeneaeueiay iieeoeea , i?iaiaeeiay
oeaio?aeueiui i?aaeoaeuenoaii e aai oeiainiauie einoeoooaie ,
i?aaeinoaaeyao ei cia/eoaeueiua aiciiaeiinoe a iaeanoe eiio?iey ca
iaee/iui AII . Iaaeaeo oai , yoio iiaue iiaeoiae ia iiaeoaa?aeaeaao
oaa?aiiinoe niiniaiinoe iaania/eoue i?ioeaaoaiey yeiiiieee e iiaaaeeoue
eioeyoeeiiiua i?ioeannu .

A ia/aea 80-o aiaeia i?eia?aea cia/eoaeueiia aeeyiea
> , aeeceay e eiina?aaoeaiiio iai?aaeaieth
, aeinoaoi/ii aeecei naycaiiiio n iiiaoa?eciii. Iniiaiay eaeay
naycaia n oai /oi iaaei oaaee/eaaoue i?aaeeiaeaiea , oaaee/eaaoue
o?iaaiue ?aaeueiiai iaueaia i?iecaiaenoaa , iin?aaenoaii oiaiueoaiey
i?aaeaeueiuo iaeiaiauo noaaie , /oi aeieaeii auei au i?aiaeieaoue
o?aoi?ioeaioiia ia?aie/aiea , i?aaeeiaeaiiia iiiaoa?enoaie .

Caeeth/aiea

Aeaiaaeiue ?uiie oi?ie?oaony e ooieoeeiie?oao a
nayce n aeaiaaeii-e?aaeeoiie iieeoeeie . Aicaeaenoaea ia aeaiaaeiue
?uiie i?aaenoaaeyao ea?a?oeth oeaeae , i?eiaieiuo a eaaeaeiaeiaaiuo
iia?aoeeyo ia ioe?uoii ?uiea eee aieaa aeieain?i/iua aicaeaenoaey ia
oaeea ia?aiao?u , eae eiee/anoai aeaiaa , iaoiaeyueony a ia?auaiee .

Aeaiaaeii-e?aaeeoiay iieeoeea ieacuaaao naia
aicaeaenoaea ia yeiiiie/aneoth nenoaio n iaeioi?ui caiacaeuaaieai .
O?aaiaiea IV = Py ecaanoii eae o?aaiaiea iaiaia , eioi?ia au?aaeaao a
aeaiiie oi?ia iaeia ioiioaiea o/aoa , inoathuaany ni?aaaaeeeaui aethauo
oneiaeyo , /oi aeinoeaaaony aaaaeaieai a iaai nei?inoe aeaeaeaiey aeaiaa
.

Eiee/anoai aeaiaa ecia?yaony n iiiiuueth a?oiie?iaee
ii?aaeaeaiiuo eeannia eeeaeaeiuo aeoeaia a aeaiaaeiua aa?aaaou , e
eioi?ui ioiineony ia?aiao? I1 , aeeth/athuee iaee/iua aeaiueae e
o?ainaeoeeiiiua aeaiiceou , e ia?aiao? I2 , aeeth/athuee ianeieueei
aeaeia aeoeaia , yaeythueony eeeaeaeiuie n?aaenoaaie iaeiieaiey ii
?aaeei eniieuecoaiuo a ea/anoaa n?aaenoa ia?auaiey .

Aeaiaaeiue ?uiie oi?aaeyaony oeaio?aeueiui
oeiainiaui einoeoooii iin?aaenoaii iia?aoeee ia ioe?uoii ?uiea ,
eciaiaiea o/aoiuo noaaie , o?iaiy iaycaoaeueiuo ?aca?aia , /oi ii
?aciiio ioeaieaaaony a oai?eyo .

Eeoa?aoo?a .

Aieeei A.A .Cieioi :iaaeaeoia?iaeiue yeiiiie/aneee
aniaeo . I.1986

Aeieai Y.Aeae , Eaiiaaee E.Ae., Eaiiaaee ?.Aeae .
Aeaiueae , aaieianeia aeaei e aeaiaaeii-e?aaeeoiay iieeoeea .I.-NIA
.1993

Eueaia TH.A.Iniiau yeiiiieee e i?aaiecaoeee aeciana
.NIA .1992.

Nia?aiaiiue aecian :O/aa.A2-o OO\?a/iaii Ae.,
Ianeii I.O., Aioae E.E ., Oei Aeae.A. I.1995

Oeoa? N., Oiaeaice ?. Yeiiiieea .I. 1993 .

Ni.Oeoa? N. Aei?uaoo ?. Oiaeaice ?. Yeiiiieea I.1993. N.471

Ni.:Nia?aiaiiue aecian \Aeae. ?a/iai e ae?.\ I.1995 O.2. N.245.

Ni.: Aieeei A.A. Cieioi: iaaeaeoia?iaeiue yeiiiie/aneee aniaeo. I.1986.
N.24.

1

2

1 Ni.: Aieeei A. A. Oeeo. Ni/. N.29.

1 Ni. : Aeieai Y. E ae?. Aeaiueae E.1911.N.35.

2 Ni.: oai aea.

3 Ni.: Aeieai Y. E ae?. Aeaiueae .E.1991N.34.

1 Ni.: Aeieai Y. E ae?. Aeaiueae. E. 1991.N.34.

2 Ni.: Oeeianiee A. Ia?ei Iiei I.1968. N.73

3 Ni.: Aieeei A.A. Oeeo. Ni/. N.37.

1 Ni.: Aeieai Oeeo. Ni/. N.26.

1 Ni.: Nia?aiaiiue aecian O.2.N.246.

2 Ni.: Aeieai Y. E ae?. Oeeo ni/. N.26

3 Ni.: oai aea.

1 Ni.: Aeieai Y. E ae? . Oeeo. Ni/. N.26.

1 Ni.: Aeieai Y. E ae?. Oeeo .ni/. n.27

2 Ni.: oai aea.

3 Ni.: oai aea.

4 Ni.: oai aea.

5 Ni.: oai aea N.27.

1 Ni.: Aieeei A.A. Oeeo. Ni/. N.34.

2 Ni.: Oaeia I. Yeiiiie/aneee iaci? iuoeaiey I.1993. N. 28.

3 Ni.: Aeieai Y. Oeeo. Ni/. N. 28.

1 Ni.: Aeieai Y. E ae?. oeeo. Ni/. N. 30

1 Ni.: Oaeia I. Oeeo. Ni/. N.539

2 Ni.: Aeieai Ae. E ae?. Oeeo.ni/. N. 30.

3 Ni.: Aeieai Y. E ae? . Oeeo.ni/. N. 30.

1 Ni.: Oeoa? N. E ae?. Oeeo .ni/. N.645.

NI.: Oeoa? N. E ae?. Oeeo. Ni/. N. 475.

Ni.: Eueaia TH.A. Iniiau yeiiiieee e i?aaiecaoeee aeciana. NIa. 1992.
N.247.

Ni.: Aeieai Ae. E ae?. Oeeo. Ni/. N.23.

NI.: Nia?aiaiiue aecian. N. 267.

Ni.: Nia?aiaiiue aecian N.269.

Ni.: Aeieai Ae. E ae?. Oeac. Ni/. N.247.

Ni.: Aeieai Ae. E ae?. Oeac. Ni/ .N.360

Нашли опечатку? Выделите и нажмите CTRL+Enter

Похожие документы
Обсуждение

Ответить

Курсовые, Дипломы, Рефераты на заказ в кратчайшие сроки
Заказать реферат!
UkrReferat.com. Всі права захищені. 2000-2020