Ex. 19. Finish the following sentences.

1. The higher price …

2. At lower prices less …

3. It takes two parties …

4. If produces expect prices to increase in the future, …

5. Shifts in demand or supply …

6. A shortage exists in the market if …

7. When the market is cleared it means …

 

 

Ex. 20. Answer the questions.

1. What is supply?

2. Why do producers supply things?

3. What are the changes that can affect the quantities supplied?

4. What is the effect of changing in the technology on producing goods?

5. If producers expect prices to increase in future why do they increase their production now?

6. What is market equilibrium?

7. How do shifts in demand or supply affect market price?

8. When does a shortage exist in a market?

9. What does a surplus in a market imply (подразумевает)?

10. When are there no surpluses and shortages in a market?

QUESTIONS FOR DISCUSSION

1. What effect do consumers have on the economy when they increase or decrease the amount of their purchases?

2. Companies watch for changes in lifestyle of people having in mind (иметь в виду) that people today place value on doing things quickly and easily. Give examples of such goods.

3. The more goods producers sell in a market, the better off (богаче) are consumers.

4. Often shops reduse their prices at certain times of the year. Why do they do this?

5. The price of a product varies at different times and places. Using the law of supply and demand, explain the difference in prices between the paired goods.

 

a) Melons in January are more expensive than melons in July.

b) Bread baked this morning is more expensive than bread baked yesterday.

c) A can of cola on the beach is more expensive than a can of cola in the local supermarket.

d) Winter clothes on the store rack in November is more expensive than it is in March.

 

 

 

UNIT 4 TYPES OF BUSINESS ACTIVITY

 

Text 1

WHY IS BUSINESS ACTIVITY NEEDED?

VOCABULARY

 

Physical items – материальные предметы

shareholder – акционер

business activity – деловая активность, коммерческая деятельность

self-sufficient – самодостаточный

basic existence – примитивное существование

traded those goods for others – обменивали одни товары на другие

businesses – зд. предприятия

At the previous lessons we have discussed the following issues:

- People have unlimited wants.

- The four factors of production – the resources needed to make goods – are in limited supply.

- Scarcityresults from limited resources and unlimited wants.

- Choice is necessary when resources are scarce. This leads to opportunity cost.

- Specialization improves the efficiency with which resources are used.

So far, we have hardly mentioned businesses. Where does business activity fit into the ideas we have already looked at?

The aim of all business is to combine the factors of production to make products which will satisfy people’s wants. These products can either be goods– physical items such as cars and shoes which we can touch and see – or they can be services, such as insurance, tourism or banking.

Businesses can be small – just one person, for example – or large. Some businesses employ thousands of people with operations in many different countries. Businesses can be privately-owned or owned by the state. They can be owned by one person or by thousands of shareholders. Whatever their size and whoever owns them, all businesses have one thing in common – they combine factors of production to make products which satisfy people’s wants.

What would life be without business activity? In simple, undeveloped societies, businesses do not exist. Everybody attempts to do everything for themselves – they are self-sufficient. With their own plot of land and by their own efforts, such as hunting, they attempt to survive and produce enough for their own needs. This is a very basic existence. By a gradual process of specialization, people began to concentrate on what they were best at. They then traded those goods for others made by people who had skilled in other areas. In this way, businesses began to be formed, and trade and exchange of goods expanded. In today’s world, most people work in one job for a weekly wage. With this money, they are able to purchase a wide range of goods and services produced by many different businesses.

Business activity therefore:

- combines scarce factors of production in order to produce goods and services

- produces those goods and services which are needed to satisfy the needs and wants of the population

- employs people as workers and pays them wages to allow them to consume products made by other people.

WORD STUDY

 

Ex. 1. Study the different meaning of the word business and use it to translate the

Sentences.

 

business n 1) дело, занятие; работа

2) бизнес, предпринимательская деятельность

3) предприятие; фирма, компания

4) торговля

 

business adj 1) деловой; коммерческий

 

Study different collocations with the word business.

 

be in business be out of business business partner domestic business foreign business get down to business go into business go out of business go on business international business monkey business profitable business put out of business run a business set up a business wind up a business

- заниматься делами, быть в деле – обанкротиться, выйти из дела - партнер по бизнесу, компаньон - отечественный бизнес, отечественное предпринимательство - иностранный бизнес, иностранное предпринимательство – заняться делом, приступить к делу - заниматься торговлей - прекратить свою деятельность; обанкротиться – ездить по делам (в командировку) - международная торговля - дурачества,"фокусы", "штучки", жульничество, афера - доходное дело, выгодное дело – разорить - вести дело, управлять предприятием - учредить предприятие - ликвидировать (свернуть) предприятие, дело

 

Informal English

 

I'm tired (sick)of the whole business. You've no business doing that. Mind your own business.   What's your business here? It's a nasty business. I'll shoot you if you try any monkey business.   He can argue like nobody's business. A pretty business!

- Мне все это порядком надоело. - Ты что тут вытворяешь? - Занимайся своим делом / Не лезь не в свое дело. - Ты какого черта сюда притащился? - Это скверная история - Если будешь дурака валять, то я тебя пристрелю - Он может спорить до потери сознания. - Хорошенькое дело!

 

 

Ex. 2. Translate into Russian.

1. She's in New York this week on business

2. His business is poultry farming.

3. They don't know how to run a business.

4. The company began as a small family business

5. We do business with a number of Italian companies.

6. “Who's that girl you were with?” – “Mind your own business.”

7. We can't afford to employ someone who isn't good at the job - business is business.

8. Big businesses are growing so powerful it is difficult to regulate them effectively.

9. He wanted to ask my advice on a business matter.

10. Okay, let's get down to business.

11. He has bought his uncle's business.

12. What a business it is to run a government!

13. If he wants to make a success in life it's about time he get down to business.

Ex. 3. Give the English equivalents to the following words and phrases. Find the

Sentences in the text where they were used.

обсуждать вопросы _________________________________________________________ страхование _______________________________________________________________

широкий ассортимент товаров и услуг _________________________________________

выживать _________________________________________________________________ ограниченные ресурсы ______________________________________________________ коммерческая деятельность __________________________________________________

платить зарплату ___________________________________________________________

неразвитые общества ________________________________________________________

улучшать эффективность ____________________________________________________

самодостаточный ___________________________________________________________

альтернативные издержки ____________________________________________________

предоставлять работу (нанимать) ______________________________________________

обмениваться товарами ______________________________________________________

 

Ex. 4. Find synonyms for the words in italics.

 

1. to make products which will satisfy people’s wants _____________________

2. physical items such as cars and shoes ________________________________

3. businesses employ thousands of people _______________________________

4. factors of production _____________________________________________

5. plot of land _____________________________________________________

6. basic existence __________________________________________________

7. to trade goods for others ___________________________________________

8. people who are skilled in other areas _________________________________

9. to purchase a wide range of goods and services _________________________

10. Everybody attempts to do everything for themselves ____________________

 

 

COMPREHENSION

Ex. 5. Match questions with their answers.