2. Now say what you know about demand and supply.

to represent

Translate into English paying attention to the meanings of the Russian word «представлять»:

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1) Какую компанию вы представляете?

2. Позвольте мне представиться.

3. Позвольте представить вам моего друга.

4. Предложение этой компании представляет для нас большой интерес.

to face

1. Answer the questions:

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1. Do you agree that, as a rule, people face lots of problems in their life (earning money, making a career, bringing up children)?

2. Do people sometimes face problems when they travel?

3. Do countries face difficulties in different periods of their development? For example, unemployment, inflation, low productivity, poverty, slow pace of economic growth, low investment activity.

1. Make up sentences of your own using:

   1. to face danger;

   2. to face a dilemma;

   3. to face difficulties;

   4. to be faced with.

4

price ^ -

The verbs frequently used with the word "price "are: to change, to cut, to reduce, to lower, to increase, to raise, to pay, to charge (взимать), to rise, to go up/down. Translate into English: Л) На прошлой неделе цены на потребительские товары выросли. X) За последнее время цены значительно выросли.

3. Некоторые компании решили поднять/снизить свои цены.

4. Покупатели были готовы заплатить более низкую цену. ;5) Поставщики начали взимать более высокие цены.

•V

Ex. 7. a) Find evidence in Text В to support these statements:

1. The backbone of any economy are producers.

2. ... the imbalances in the market... tend to be corrected by changes in prices.

b) Develop the idea of how buyers and producers respond to changes in the price of a good.

Ex. 8. a) Read the text, b) What dcfyou think profit depends on? c) State the factors affecting the price.

Factors That Affect Price

Managers of corporations have a duty to earn a profit. They are hired for that purpose by the firm's shareholders. In addition, managers of all firms must earn profits if they want to stay in business.

Profits, among other things, depend on prices. The first factor affecting price is demand. The demand for a product means the amount customers are willing and able to buy at a given price. The lower the price, the more units of a product will be bought. Demand is not the only thing that counts in setting a price. Cost must also be kept in mind.

General economic rules say that a firm will usually be forced to raise its prices when its costs rise, even though doing so will reduce sales volume. Any reduction in costs, on the other hand, gives the firm a chance to lower prices, increase sales, and improve profits.

Competition is a third factor that .affects pricing. The more competitors a firm has, the greater the chance that customers will turn elsewhere if the firm raises its prices.

Words and word combinations yon may need hire — нанимать cost - себестоимость

count - иметь значение, идти в расчет sales volume - объем продаж

set a price - устанавливать цену keep in mind - иметь в виду

е-;

Ex. 9. Sum up Text В (orally/in writing). ___ -

Situation: Imagine you have bought a consumer product and it has not satisfied you. What, in your opinion, was the origin of the problem? Do you think the product was not described accurately when it was sold to you? Do you know the firm whose product you bought? Who are the firm's competitors in the market? Discuss the situation with your friend.