Task 2. Match each of the words or phrases on the left to an appropriate definition
| 1 bargan h | a) an amount of money that sb/a bank, etc. lends you |
| 2 brand-conscious f | b) a person who is paid to work for sb else |
| 3 competitive j | c) a formal discussion at which people try to decide or agree sth |
| 4 employee b | d) a system in some companies in which the profit the company has made, for example in one year, is shared out between its directors, shareholders, etc. |
| 5 loan a | e) a person who owns part of company and receives part of the company's profits |
| 6 negotiation c | f) aware of the different types of product made by different companies and what each one represents |
| 7 profit share d | g) a person or a company that provides sb/sth with the things that he/she/it needs or wants |
| 8 shareholder e | h) to discuss prices, conditions, etc. with sb in order to reach an agreement that suits each person |
| 9 supplier g | i) the buying or selling of goods or services between people or countries |
| 10 trade i | j) able to be as successful as or more successful than others |
Task 3. Fill in the blanks using the word combinations given below, translate the letter .
Letter 1.
Thank you for ordering 15 cases of premium paper from Imperial Stationery Ltd. Your order has been shipped and ( d ) within the next five business days.
( e ) your total bill for the above order amounting to $794,85 and the check for $23,85 is ( b ). ( a ), we are giving you 3 percent cash discount and we also are paying for shipping and handling.
Imperial Stationery is pleased to ( c ). We look forward to ( f ).
a) because you paid in advance
b) your refund
c) add you to its list of customers
d) should reach you
e) find enclosed
f) your next order
Letter 2.
( e ) that you have placed for the full team kit. ( a ) the order will consist of 12 red and white striped jerseys (size large), 12 white shorts (size large) and 12 pairs of red socks with white trim (size 6-12). We envisage that ( d ) on this order will be approximately 3 weeks from the date of this letter, however please ( b ) we have experienced a slight delay on recent similar orders and there is a possibility that the order may take an additional 2 weeks ( f ).
We can confirm that you will be invoiced for the full amount of £ 195 plus VAT after the order has been received.
Once again we thank you for your custom and should there be any problems with your order then please ( c ) during office hours on 01303 123456.
a) we wish to confirm that
b) be aware that
c) do not hesitate to contact me
d) the delivery time
e) thank you for the order
f) beyond the expected date
Task 4. Choose the correct variant.
1.Our … is broad enough. There is no need to expand it.
a) research
b) segment
c) share
d) part
2. The retailer is the most expensive link between a producer and a….
a) a seller
b) a consumer
c) a wholesaler
d) people
3.She is the … manager I have ever known.
a) good
b) best
c) better
d) most
4. We … to arrange a meeting next Monday.
a) will
b) are going
c) were going
d) is going
5. The conference … from 18th March to the 20th.
a) hold
b) held
c) is holding
d) will be held
6.This delay … some inconvenience once again.
a) cause
b) has caused
c) would cause
d) causing
7.If you … further information do not hesitate to contact us.
a) can
b) need
c) must
d) will need
8. He said he … the work in time.
a) does
b) has done
c) had done
d) will do
9.If it happens, more Cooler’s products … from the USA.
a) will be exported
b) are exported
c) were exported
d) would be exported
10.The quality of the goods leaves much ….
a) to desire
b) to be desired
c) desiring
d) to have been desired
LESSON 4
Task 1. Complete the text with the words in the box.
| 1. desire | 5. profits | 9. defense | 13.intervention | 17. to make money |
| 2. a free market | 6. competitive | 10. creating new jobs | 14. changing demands | 18.consequences |
| 3. investment | 7. private enterprise | 11. the opportunity | 15.management | 19. ownership |
| 4. spending | 8. more resources | 12. employers | 16. alters | 20. Consumers |
Market economy
In a true market economy the government plays no role in the ( 15 ) of the economy, the government does not intervene in it.
The system is based on ( 7 ) with private ( 19 ) of the means of production and private supplies of capital, which can be defined as surplus income available for ( 3 ) in new business activities.
Workers are paid wages by ( 12 ) according to how skilled they are and how many firms wish to employ them. They spend their wages on the products and services they need.
( 20 ) are willing to spend more on products and services, which are favoured.
Firms producing these goods will make more ( 5 ) and this will persuade more firms to produce these particular goods rather than less favoured ones.
Thus, we can see that in a market economy it is consumers who decide what is to be produced. Consumers will be willing to pay high prices for products they particularly ( 1 ).
Firms, which are privately owned, see ( 11 ) of increased profits and produce the new fashionable and favoured products. Such a system is, at first view, very attractive.
The economy adjusts automatically to meet ( 14 ). No planners have to be employed, which allows ( 8 ) to be available for production. Firms tend to be highly
( 6 ) in such an environment. New advanced products and low prices are good ways to increase sales and profits.
Since all firms are privately owned they try to make the largest profits possible. In ( 2 ) individual people are free to pursue their own interests. They can become millionaires, for example.
Suppose you invent a new kind of car. You want ( 17 ) out of it in your own interests.
But when you have that car produced, you are in fact moving the production possibility frontier outwards.
You actually make the society better off by ( 10 ) and opportunities, even though you become a millionaire in the process, and you do it without any government help or ( 13 ). Not surprisingly there are also problems. Some goods would be under purchased if the government did not provide free or subsidized supplies. Examples of this type of good and service are health and education.
There are other goods and services, such as defense and policing that are impossible to supply individually in response to consumer ( 4 ).
Once ( 9 ) or a police force is supplied to a country then everyone in this country benefits. A cornerstone of the market system is that production ( 16 ) swiftly to meet changing demands. These swift changes can, however, have serious ( 18 ).