Exercise 1. Change the sentences according to the model. 

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Exercise 1. Change the sentences according to the model.

Model: We use the safety deposit boxes (sometimes).

We sometimes use the safety deposit boxes.

1. All the banks provide credit services (usually).

2. Banks give investment advice (sometimes).

3. Banks charge interest (always).

4. You can borrow money quickly (rarely).

5. Businesses want to borrow money (frequently).

6. The amount of interest depends on the prime-rate (generally).

7. Companies need a line of credit (seldom).

8. A line of credit is available (occasionally).

Exercise 2. Change the sentences from active into passive according to the model.

Model: They use the safety deposit boxes very often.

Safety deposit boxes are used very often by them.

1. Federal government supervises and charters national banks.

2. This bank is asking ten percent interest.

3. The bank requests a financial statement of the company.

4. Their company takes a long-term loan from the Federal Bank.

5. The executive shows the company's expenses.

6. The manager is instructing the secretary.

Exercise 3. Answer the questions.

1. Is there a difference between banking systems in Ukraine and western countries? What is the difference?

2. What bank services are you familiar with?

3. Do the banks in this country have safety deposit boxes?

4. Whom do the banks make loans to in this country?

5. What kind of loan would you prefer, long-term loan or short-term loan?

6. What prime-rates are available in this country?

7. What does the line of credit of the enterprise depend on?

8. What is a credit letter written for?

9. What can one do with credit reference letter?

Exercise 4.

1. Speak about banking system in Ukraine.

2. Make up a dialogue between a bankman and a customer, who wants to take a long-term (short-term) loan.

Exercise 5. Translate into English.

1. Держава засновує комерційні банки.

2. Якщо ти хочеш купити товари за кордоном, ти повинен поміняти гроші у відділі обміну валют.

3. Я б хотів зробити кар’єру в банківській справі.

4. Всі банки встановлюють проценти на позику.

5. Наш банк має намір надати короткострокову позику цьому підприємству.

6. найменший процент з позики надається привілейованим клієнтам.

7. Банки можуть випускати акредитиви та рекомендовані кредитні листи.

8. Я маю намір позичити велику суму грошей.

9. Банк вважає, що це підприємство платеспроможне і йому можна надати позику.

Grammar Exercises

Exercise 1. Make the sentences negative.

Model: This commercial bank had already stopped to exist when the war started.

This commercial bank hadn't stopped to exist yet when the war started.

1. He had already changed currency when I rang him up yesterday.

2. They had already chartered the commercial bank when I organized my private cafe.

3. He had looked over the financial statement by five o'clock yesterday.

4. My brother had made a career in banking when he was 26.

5. He had put all his money on his savings account before the money reform was introduced.

Exercise 2. Put up four questions of different types (general, special, disjunctive, alternative) to each sentence.

Model: They had written a credit reference letter before he left abroad.

1. Had they written a credit reference letter before he left abroad?

2. What had they written before he left abroad?

3. They had written a credit reference letter before he left abroad, hadn't they?

4. Had they written a credit reference letter or a credit letter before he left abroad?

1 He had been a preferred customer for this bank till his business was successful.

2. My parents have settled everything connected with insurance before they retired on pension.

3. He had borrowed the money before I managed to find him.

4. The lawyer had given me investment advice before I asked him about it.

5. He had arrived to the conclusion to take a long-term loan when I met him yesterday.




The number of new products coming into the market of western countries every year is overwhelming. The major part of these products is not new, but adaptations. It means that these products are not new, they are existing items to which a modification has been made. Only few products are really original or innovations. For instance a clock-television is an adaptation, but TV-set itself, the refrigerator - each was an innovation. A great number of innovations and adaptations are designed, produced and marketed by small businesses. Very often a new product is formed on the basis of the new business. Sometimes there is a patent to make the business more successful. But it happens very often that market research hasn't been done carefully.

Even in case larger scale producers do more research and testing there is no sure success. A promising new product may be also robbed of success by unreasonable prices, inadequate promotion and poor selling methods. Generally less than one fifth of all new products turn out to be profitable.

Active Vocabulary

product development розвиток виробництва

adaptation щось перероблене, пристосоване

modification модифікація, видозміна

innovation нововведення

patent патент

large scale producer крупний виробник

promising product перспективний продукт

unreasonable price непродумана ціна

inadequate недостатній, той що, не відповідає вимогам

Comprehension Questions

1. How can you explain the term adaptation?

2. What is an innovation?

3. Give your own examples of innovations and adaptations.

4. Why are many innovations and adaptations manufactured and marketed by small businesses?

5. Why is it so important to obtain a patent?

6. Why does the failure of a new product take place?

Vocabulary Practice

Exercise 1. Choose the necessary word and put it in the sentence.

1. Though market research tries to predict the trends, there is no sure... 1 adaptation

2. This product isn't original, it is an... 2 innovation

3.... office receives applications from many young inventors. 3 inadequate

4. If the price is..., the product won't be sold out. 4 patent

5. A clock-television is an adaptation but the television itself is an... 5 failure

6. If a sure... is stopped, money and time I can be saved. 6 success

7. They failed because of... promotion campaign. 7 unreasonable


(Dick and Jack are having lunch. Dick is Vice President in charge of Product Development. And Jack is Vice President in charge of the Legal Department).

Dick How are the things?

Jack Great. We are busy with a new line of clock-television.

Dick Sounds interesting. Are you going to apply for a patent soon?

Jack Yes, we are. We are preparing the necessary papers now.

Dick And what did the Market Research say by the way?

JackThey think there is fair market for the product at the moment but it will take a

few years to catch on.

Dick I see. We'll have to turn a good promotional campaign.

JackWithout doubt.

Dick Well, it will be our advantage to have the patent on it as well. You have decided on the size, haven't you?

Jack We'll start with a small screen model. It will have a wake-up button and go-to-sleep button with timers. Market Research says that the automatic go-to-sleep button may be the bigger selling point.

Dick Yes. The idea of a set that turns itself off is great. To tell you the truth I'm always falling asleep in the middle of the show. Now it can be done.

JackWell. In future we'll probably expand the line to include different size screens and colour.

Dick That's good.

Jack I think we are close to a big success.

Dick That is why we must be very careful. Before we begin to market television we must fulfil the most complete testing.

Jack You are right.

Dick What about the pricing? Has it been worked out?

Jack Not completely. Market Research Department says we can't have too high price on this kind of item.

Dick It's evident we must be very careful. Maybe this time consumers will really surprise us.

Jack Let's hope for the best.

Active Vocabulary

to apply for a patent - подавати заяву на патент

fair market - сприятливі ринкові умови

to catсh on - стати модним

to be a big selling point - бути привабливим для покупців

to fulfil the testing - закінчити дослідження

to market - продавати

Vocabulary Practice

Exercise 1. Change the sentences according to the model.

Model: We must fulfil complete testing.

Complete testing must be fulfilled.

1. They must expand the line.

2. You could apply for a patent.

3. They should work out the details. 4.1 must develop a new trend.

5. We should design a line of clock-television.

6. You should start market research.

Exercise 2. Answer the questions.

1. Why is it so important for a producer to apply for a patent?

2. How much time does it usually take for a new product to catch on?

3. What is a big selling point of the items which you produce?

4. In what way can a consumer surprise the producer?

5. Would you like to produce something original or an adaptation? Explain why.

6. What are the conditions of successful product development?

7. What products are the market conditions fair for in this country?

Exercise 3. Translate into English.

1. Цей продукт-модифікація старого.

2. Дрібні виробники випускають більшу кількість товару.

3. Вам необхідно отримати патент на виробництво даного товару.

4. Ретельне дослідження ринку необхідне, щоб гарантувати успіх.

5. Необхідно п’ять років на те, що ваш продукт отримав визнання.

6. Пристрій з таймером, який відключається – саме те, що зацікавить споживача.

7. Треба закінчити всі дослідження, перш, ніж ми почнемо продавати наш продукт.

8. Нам необхідно розширити лінію.

Exercise 4. Speak about product development of your business. Ask your colleague how he would plan product development.

Grammar Exercises

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