Translate the phrases into English and compose sentences with them.

1. люди, зарабатывающие деньги; деньги, заработанные людьми;

2. клиент, открывающий счет в банке; счет, открытый в банке;

3. покупатель, приобретающий товар; товар, приобретенный покупа­телем;

4. покупатель, оплачивающий товар; товар, оплаченный покупателем;

5. лицо, берущее деньги взаймы; деньги, взятые взаймы;

6. лицо, погашающее ссуду; ссуда, погашенная клиентом.

Answer the questions on the text.

1. What economic agents interact in the market?

2. What is the main purpose of the economy?

3. How do consumers spend the income they earn?

4. How do prices influence consumers' decisions?

5. How does a rise in real income affect consumers' decisions?

6. Is it reasonable to use the terms "necessities" and "luxuries" analyzing consumer expenditure?

7. Why does consumer expenditure have a big impact on the level of eco­nomic activity?

 

Read the text. Fill in the correct form of the participle. Say how the business started. Explain the success of the business.

Three years ago my aunt died... (leaving/left) me some money in her will. I borrowed some money from my friend... (promising/promised) to return it as soon as possible. I turned to the bank... (asked/asking) them to lend me some money. Besides, I had a saving account with the bank... (bringing/brought) me interest on my savings. The new shares... (offered/offering) to me by my agent gave me good results that year. The dividends... (paid/paying) to me were more than I expected.

So having collected the money I was able to start my own business, mak­ing leather goods. I worked like a slave, but it was worth it. Now my business is doing quite well.

I'm competing quite successfully with other firms... (established/estab­lishing) in the market. To be a success you must be ahead of your competitors. So I try to understand the people buying my leather goods and to study the market. I think that customers are always looking for new products... (based/ basing) on new technology I'm sure I have the capability to produce the... (needing/needed) product.

 

11. Most often goods are classified as consumer goods (basic, durable, non-durable, luxury) and industrial goods. Give examples of each class.

12. Answer these questions:

1. Have you (your family) bought any durable goods lately?

2. Are you satisfied with them?

3. Have any goods you bought lately disappointed you? What goods have been the greatest disappointment to you? Describe the problem.

4. Does the purchase of durable (luxury) goods reflect the rising incomes of the population?

 

Translate into English.

1. Потребители покупают товары, чтобы удовлетворить свои потреб­ности.

2. Потребители — это домашние хозяйства.

3. Если цены растут, то потребление товаров, как правило, снижается.

4. Несмотря на рост цен, потребление товаров длительного пользова­ния выросло в последнее время.

5. Потребительские товары высокого качества пользуются спросом.

6. Сейчас многие семьи потребляют больше товаров высокого качества.

7. Личное потребление товаров и услуг возросло.

8. Производители потребительских товаров должны изучать рынок, вкусы и предпочтения потребителей.

9. Когда эта фабрика начала выпускать потребительские товары?

10. Что производит эта компания?

11. Компания увеличила производство легковых автомобилей.

12. Эта компания производит товары, которые пользуются большим спросом у населения.

13. Производство товаров длительного пользования значительно вы­росло в прошлом году.

Translate into Russian.

1. The money was distributed fairly.

2. The company distributed the annual profits to the employees.

3. Who distributes books to the students at your university?

4. How do people distribute their incomes?

5. This decision will affect his choice.

6. The goal of all producers is to affect buyer behavior.

7. Price rises affect sales.

8. How does competition affect the market?

9. Advertising affects consumers in different ways.

10. Low incomes affect people.

11. Changes in wealth can affect current consumption.

12. The pattern of consumption expenditure is affected by income.

13. Smith's ideas had an impact on the development of economics as a sci­ence.

14. Political events have an impact on the development of business and inter­national trade.

15. Reduction in bank credits has a big impact on the country's economy.

16. Economic growth has an impact on consumption, production and the current standards of living.

Comment on the statements.

1. Political events have an impact on the development of business and inter­national trade.

2. Economic growth has an impact on consumption, production and the current standards of living.

Find evidence in the text to support these statements.

1. There are different factors affecting consumer decisions and spending.

2. The amount of money spent on goods and services has a big impact on the level of economic activity.

 

Sum up the text and discuss with your partner the factors affecting your decisions as consumers (prices, your income, quality, availability of imported goods).

 

Eight Steps to Getting Your Finances in Order

Develop a family budget. Instead of budgeting what you’d like to spend, use receipts to create a budget for what you actually spent over the last six months. One advantage of this approach is that it factors in unexpected expenses, such as car repairs, illnesses, etc., as well as predictable costs such as rent.

Reduce your debt. Generally speaking, lenders look for a total debt load of no more than 36 percent of income. Since this figure includes your mortgage, which typically ranges between 25 percent and 28 percent of income, you need to get the rest of installment debt—car loans, student loans, revolving balances on credit cards—down to between 8 percent and 10 percent of your total income.

Get a handle on expenses. You probably know how much you spend on rent and utilities, but little expenses add up. Try writing down everything you spend for one month. You’ll probably see some great ways to save.

Increase your income. It may be necessary to take on a second, part-time job to get your income at a high-enough level to qualify for the home you want. Multiple unrelated cash flows are a vital part of creating the security against losing a job, or a company going out of business.

Save for a down payment. Although it’s possible to get a mortgage with only 5 percent down—or even less in some cases—you can usually get a better rate and a lower overall cost if you put down more. Shoot for saving a 20 percent down payment.

Create a house fund. Don’t just plan on saving whatever’s left toward a down payment. Instead decide on a certain amount a month you want to save, then put it away as you pay your monthly bills.

Keep your job. While you don’t need to be in the same job forever to qualify, having a job for less than two years may mean you have to pay a higher interest rate.

Establish a good credit history. Get a credit card and make payments by the due date. Do the same for all your other bills. Pay off the entire balance promptly.

Vocabulary

instead of – вместо

receipts – чеки по платежам

advantage – преимущество, достоинство

approach – подход принцип, способ

to factor - учитывать

predictable - предсказуемый

costs – издержки, затраты, расходы

generally speaking – говоря вообще

to look for – искать, ожидать

total debt load – общая долговая нагрузка

mortgage – залог, ипотека

installment debt – очередной взнос

to get down – снижать, спускать

total income – общий доход

to get a handle on – разобраться, понять

utilities – коммунальные услуги

to qualify – отвечать требованиям, делать способным

down payment – первая выплата, взнос, аванс

down – первоначальный, наличный, в качестве первонач. взноса

overall cost – полная стоимость

to shoot for - добиваться

monthly bills – ежемесячные счета

interest rate – процентная ставка

to establish – создать, установить, заводить

due date – установленная дата платежа

to pay off – расплачиваться

promptly - аккуратно, своевременно, быстро