3. Answer the following questions:

1. Why must all societies deal with scarcity?

2. What is one common definition of economics?

3. What are individuals, families and firms limited by?

4. What is microeconomics?

5. Define the term macroeconomics.

6. What is rent?

7. Characterize the term “wages”.

8. What is interest?

9. What questions must every society provide answers to?

10. How do you understand the term “factors of production”?

4. Read and translate the international words:

Economics, social, to distribute, to analyze, individual, to limit, personal, business, firm, product, service, problem, alternative, subject, career, democracy.

5. Match the synonyms:

1 to define 1 solution

2 among 2 to divide

3 person 3 chance

4 firm 4 to buy

5 income 5 merchandise

6 to purchase 6 profit(s)

7 goods 7 company

8 opportunity 8 individual

9 to share 9 between

10 decision 10 to determine

6. Explain the word building:

economy – economic – economics – economist – economical – to economize;

to satisfy – satisfaction – satisfactory;

to limit – limited – limitation;

to borrow – borrower – borrowings;

to produce – producer – product – production.

7. Make up the sentences:

1. Why, study, we, should, economics?

2. The study of, will help, economics, you, a fuller life, to live.

3. Economics, the study of, is, a living, make, how, people.

4. The use of, rent, paid, is called, the price, for, land.

5. A whole, the study, macroeconomics, of the economy, is, as.

8. Translate into English:

1. Заробітна плата – це винагорода, яку отримують робітники за свою працю.

2. Перед кожним суспільством постає проблема нестатку.

3. Ресурси, необхідні для утворення товарів і послуг, називають чинниками виробництва.

4. Економіка – це наука про те, як люди заробляють на життя.

5. Купуючи фабрики, машини та інші засоби виробництва, ділові люди часто вживають термін «капітал».

6. Бажання людини безмежні, а кошти, необхідні для здійснення цих бажань, надто обмежені.

Unit 2. Marketing

1. Remember the words:

- producer

- consumer

- distribution

- storage

- promotion

- trend

- marketing research

- to predict

- advertising

- consumption

- to provide

2. Read and translate the text:

Marketing includes all the business activities connected with the movement of goods and services from producer to consumer. Sometimes it is called distribution. On the other hand marketing is made up of such activities as transporting, storing and selling goods and on the other hand a series of decisions you make during the process of moving goods from producer to user. Marketing operations include product planning, buying, storage, pricing, promotion, selling, credit, traffic and marketing research.

The ability to recognize early trends is very important. Producers must know why, where, for what purpose the consumers buy. Marketing research helps the producer to predict what the people will want. And through advertising the producer attempts to influence the customer to buy. Marketing operations are very expensive. They take up more than half of the consumer’s dollar. The trend in the USA for example has been to high mass consumption. The construction of good shopping centres has made goods available to consumers. It provided a wide range of merchandise and plenty of parking facilities.

3. Answer the following questions:

1. What does marketing mean?

2. What activities does marketing consist of?

3. What do marketing operations include?

4. Why is it so important for the producer to predict the trends?

5. How was mass consumption possible in the USA?

4. Read and translate the international words:

Marketing, business, active, service, transporting, process, operation, product planning, credit, producer, dollar, mass, construction, centre, parking.

5. Give synonyms to the words:

Business, goods, consumer, storing, purpose, to want.

6. Give antonyms to the words:

Producer, to sell, early, to know, expensive, wide.

7. Give English equivalents:

Виробник, збут, продаж, споживач, складування, розробка нових продуктів, діяльність, транспортування, планування, ринок.

8. Make up the sentences:

a) is, called, marketing, sometimes, distribution.

b) the business, all, includes, marketing, activities.

c) is, to recognize, the ability, important, very, trends, early.

d) in the USA, has been to high, the trend, consumption, mass.

e) expensive, are, marketing, operations, very.

9. Choose the necessary word and fill in the gaps:

PREDICT INFLUENCE PROMOTE MARKETING TRENDS DISTRIBUTION MARKET RESEARCH PRODUCT PLANNING CONSUMER

1. One of the aims of market research is to indicate new ... among people.

2. Advertising must ... the consumer and make him buy the goods produced.

3. Marketing is often called ... .

4. In order to sell a new product a producer has to consider how to ... it.

5. The goods of this company are not sold very well, they must think about ... .

6. Sometimes it is difficult to influence a ... through advertising.

7. If you want to produce something new you should start with ... .

8. A producer wants to ... the new trends and then tries to influence them.

9. ... includes product development and pricing among other things.