Discussion of the text

1. Speak about international trade and its components.

2. Explain the essence of the theory of comparative advantage.

3. Speak about the balance of trade and the balance of payments.

4. Speak about the terms of trade and the ways to improve them.

MODULE CONTROL ASSIGNMENTS FOR SELF-WORK

Assignment 1. Use the verb in brackets in the proper tense form.

1. He thought that they (to finish) that export operation. 2. It was clear that we (to lose) much money as our sales (to decrease). 3. He knew that he (to be) right, (to be) right from the very beginning. 4. I saw that he (to try) to explain why he (to refuse) to cooperate with us. 5. The manager announced that the members of the board of directors (to come) to visit our enterprise next week. 6. We knew that he (to be) back from his business trip by Monday. 7. I thought that she (to study) financial management before she (to get) that job. 8. The Buyers stated that the goods (to meet) their requirements. 9. We were sure that our transaction (to be) a success. 10. They expected that the reconstruction of that enterprise (to require) five to six months.

Assignment 2. Write the following dialogue in reported speech.

Uncle: Let us see whether you are smart at mathematics, Charley! I had twenty dollars and borrowed fifty from your aunt and twenty from your dad. What does that make?

Charley: To my mind, that makes debts.

Assignment 3. Rewrite the following passage in direct speech as a dialogue.

Peter met George in the street and after the usual greeting asked him whether he had really decided to get a new job. George said that he had found a job with one of the companies that engaged in international trade. Peter asked whether that was a firm decision. George answered that it was, because he had studied international business at college and he was interested in gaining practical experience in that field.

Assignment 4.Match the definition on the right with the word on the left. Compose 5 sentences of your own with the words defined.

Absolute advantage -	the direct exchange of goods and services for other goods and services.
Balance of trade -	the things we buy that do not involve the production of physical things, such as legal advice or education.
Barter -	an institution through which buyers and sellers interact and engage in exchange.
Market -	the advantage in the production of a product enjoyed by one country over another when it uses fewer resources to produce that product than the other country.
Services -	a country’s merchandise exports minus its merchandise imports.

Assignment 5. Read and translate the text.