5. Recruitment. The letter of application. Cv.

When a company needs to recruit or employ new people, it may advertise the job or position in the newspaper. Then people who are interested can apply for the job by sending in a letter of application and curriculum vitae containing details of their education and experience. The company will then make a list of candidates, who are invited on an interview.

The most important thing when interviewing a candidate is his character, his ability to react, his intelligence and his suitability for the position for which he is interviewed. It is important that the person is well presented, neat and tidy, and that he or she has a good manner. Normally the candidate has few interviews with junior members of the staff before he gets to the personnel manager, and then the person has a good knowledge of what the company does, what he’s expected to do.

The major way a candidate goes wrong is by basically becoming a yes-man or a yes-woman and agreeing with everything you say. Candidates should listen, ask right questions and create an adult-to-adult relationship with the the interviewer.

The letter of application normally contains 3 or more paragraphs in which you should confirm that you wish to apply and where you learned about the job, say why you are interested in the position, show your most relevant skills and experience and express your will to attend an interview.

To apply for a job you need to write a curriculum vitae.

You should give the general information about you: your name, address, telephone, date of birth and marital status. In graph called “Education” you should list all schools and colleges you graduated from.

The next section should be filled with all the qualifications you have got.

The section “Experience” requires listing all the jobs you’d had before applying for new one.

It is also necessary to give other information such as your knowledge of foreign languages and other activities or interests.

6. Markets and monopolies. Markets. Competition. Monopoly.

In a market economy the actions of buyers and sellers set the prices for goods and services. The prices determine supply and demand. Supply, the quantity of a product that suppliers will provide, is the seller’s side of a market transaction. They usually want the price that allows them to make the most money. Demand, the quantity of a product that consumers want, is the buyer’s side of a market transaction. Buyers want the price that gives them the most value for the least cost.

When people who are willing to sell a commodity contact people willing to buy it, a market for that commodity is created. In a perfect market, there is 1 price for a commodity and competition is unrestricted. However, in a real market competition influences the prices. They fluctuate and such fluctuations are affected by current supply and demand.

In some markets there may be only one seller or a cartel of sellers. This is called a monopoly. Different kinds of monopoly arise when a country has control over major natural resources or important services. Such monopolies are called natural.

Legal monopolies occur when the law of a country permits certain producers a full monopoly over the sale of what it products. This differ from sole trading opportunity when certain companies obtain complete control over particular commodities. This action is called cornering the market and is illegal. In the USA anti-trust laws operate to restrict such activities, while in Britain the Monopolies Commission examines arrangements, mergers, takeovers.

In the market systems, competition answers the basic questions of what, how, for whom and how much. Competition among producers is for the highest profits. Competition among consumers is for the best goods and services at the lowest prices. Obtaining the highest profits and the best goods at the lowest price are the only motives the market system considers.

In a market economy three basic resources – land, labour and capital – are bought and sold for the best price. Market for labour is constantly changing. Producers are in competition with one another to hire the best workers for the lower wages. Workers compete with one another to get the best jobs at the highest wages. Producers’ needs for workers change, so young people train for a career, then they need to consider what types of workers will be needed in future. Planning a career requires careful study of statistics showing which jobs are growing. Workers need to be able to learn new skills to remain competitive in the market.