Which word?

SUPPLY v, n vs. SUPPLY adv

[sə`plaı] [`sAp^əli]

SUPPLY [sə`plaı] An amount or quantity of something that is available to use: пропозиція; постачання; поставка; To provide someone or something that they need or want: постачати; поставляти, доставляти; давати

SUPPLY [`sApəli] Supple adj + ly → supply in a supple manner: гнучко; піддатливо; поступливо; підлесливо

b) Use the above words in the sentences of your own.

Task 31. Answer the questions.

1. The word market today is used in a number of ways, isn’t it?

2. How are markets in which goods are exchanged illegally called?

3. What kind of market does eBay represent?

4. Can there be markets under a command economy?

5. How can a market be defined?

6. Can a market be defined as the demand made by a certain group of potential buyers for a good or service?

7. Can the terms “market” and “demand” be used interchangeably? Can they also be used jointly?

8. What is the historical origin of markets?

9. Does a market emerge more or less spontaneously or is it constructed deliberately by human interaction?

10. What is the historical origin of markets?

11. Who participates in the market in order to achieve certain goals?

12. What is market participation motivated by?

13. What two distinct markets are there?

14. What is a factor market?

15. What is known as a product market?

16. Is a factor market or a product market a single, identifiable structure?

17. The term “market” simply refers to any place where a buyer and seller interact, doesn’t it?

18. How can the exchange between a buyer and seller take place?

19. Do all markets need to have a fixed geographical location? Explain your answer.

20. What is direct contact as the main link between buyers and sellersreplaced by in the modern world?

21. What does the market facilitate?

22. The market enables the distribution and allocation of resources in a society, doesn’t it?

23. How do markets reallocate commodities?

24. How are the two sides of each market transaction called?

25. What is supply?

26. What is the total amount of a type of goods or services that people or companies buy at a particular time and place known as?

27. Which factors determine the price in any market?

28. What does the market mechanism move price to?

29. Under what conditions do surpluses appear?

30. What do sellers do to get rid of the surplus?

31. Do buyers purchase more at lower prices?

32. What occurs if the market price is below equilibrium price?

33. Till what time do price and production rates change?

Task 32. Translate the following sayings. Choose one to comment on.

1. “Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.” (Warren Buffet)

2. “I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.” (Warren Buffet)

3. “A nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people.” (John F. Kennedy)

4. “A market is never saturated with a good product, but it is very quickly saturated with a bad one.” (Henry Ford)

5. “Apple’s market share is bigger than BMW’s or Mercedes’s or Porsche’s in the automotive market. What’s wrong with being BMW or Mercedes?” (Steve Jobs)

6. “The most important single central fact about a free market is that no exchange takes place unless both parties benefit.” (Milton Friedman)

7. “The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.” (Milton Friedman)

8. “Underlying most arguments against the free market is a lack of belief in freedom itself.” (Milton Friedman)

9. “To me, America is just another market.” (Quentin Tarantino)

10. “The salary of the chief executive of a large corporation is not a market award for achievement. It is frequently in the nature of a warm personal gesture by the individual to himself.” (John Kenneth Galbraith)

11. “The main purpose of the stock market is to make fools of as many men as possible.” (Bernard Baruch)

12. “We don’t have a monopoly. We have market share. There’s a difference.” (Steve Ballmer)

13. “We have to choose between a global market driven only by calculations of short-term profit, and one which has a human face.” (Kofi Annan)

14. “Let me say again that the relationship is asymmetrical: there’s no democracy without a market economy, but you can have a market economy without democracy.” (Peter L. Berger)

15. “The market came with the dawn of civilization and it is not an invention of capitalism. If it leads to improving the well-being of the people there is no contradiction with socialism.” (Mikhail Gorbachev)

16. “If stock market experts were so expert, they would be buying stock, not selling advice.” (Norman Ralph Augustine)

17. “Every market is in transition.” (Kenneth Lay)

18. “One of the very nice things about investing in the stock market is that you learn about all different aspects of the economy. It’s your window into a very large world.” (Ron Chernow)

19. “When the market is just going up, up, and up, we all tend to be blind to the holes in the market. They’re all papered over by the rise.” (Ron Chernow)

20. “Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see until the bear market comes.” (Ron Chernow)

21. “Capitalism and the market are presented as synonymous, but they are not. Capitalism is both the enemy of the market and democracy.” (David Korten)

22. “The E.U. is more than just a trade organization or a common market; it is a guarantee of democracy, freedom, justice, and human rights. Nations cannot stay in the E.U. if they do not respect these guarantees.” (John Bruton)

23. “The free market economy is supposed to be the only path leading to the happiness of humanity by promoting wealth and prosperity, power and influence of nations.” (Omar Bongo)

24. “Market segmentation is a natural result of the vast differences among people.” (Donald Norman)

25. “A market that’s as open as possible is the precondition for a successful economy, and a successful economy is the precondition to being able to pay for social security.” (Gerhard Schroder)

26. “You can’t fatten the pig on market day.” (John Howard)

27. “The invisible hand of the market always moves faster and better than the heavy hand of government.” (Mitt Romney)

28. “Teach a parrot the terms “supply and demand” and you’ve got an economist.” (Thomas Carlyle) 

UNIT 2. MARKETING & ADVERTISING