- •The Interaction of Demand and Supply.Their Influence the Market Prices.
- •1. A. Think about the items youbought during the past twomonths.
- •2.Study key terms and their definitions.
- •3. To make the concept of demand clearer, entitle the following examplesof the main economic concepts concerning it. Answer the questions.
- •4. Match the terms with their definitions.
- •5.While reading the text match the questions to the answers.
- •Why is Demand Important?
- •Vocabulary practice
- •Find in the text English equivalents for the following word combinations. Write your own sentences using them.
- •Give Ukrainian equivalents for the following word combinations.
- •A. The italicized words in the sentences below are found in this unit. Study the sentences. Then identify the part of the speech and write your own definition for the words on the line provided.
- •IV. A. Study the difference between such nouns asamount, number and quantity.
- •In each set of words, cross out the words that does not have a similar meaning to the first. Compare your answers with another student. Discuss why the words are similar.
- •A. Expand your knowledge of non-price determinants of demand. Fill in the missing words in the sentences below. Choose from the box. Translate the sentences into Ukrainian.
- •Write one word in each gap to complete the sentences.
- •A. Read the text. Number the following words with their underlined equivalents in the text.
- •Read the following text. For each gap, choose the best words a, BorC.
- •Understanding main points of the text.
- •A. Which of these statements gives the best summary of the ideas in the text?
- •McMakeover Deluxe
- •B. Which of these statements gives the best summary of the ideas in the text?
- •Netflix, Blockbuster Battle It Out
- •Read the text and be ready to do the following assignments.
- •Scan the next article for the answers to the following questions:
- •Read the text written above. Title it and prepare a brief summary of the text.
Vocabulary practice
Find in the text English equivalents for the following word combinations. Write your own sentences using them.
Включати лише дві змінні;величина попиту; рух вздовж кривої попиту;зміщуватися вправо;показати зниження попиту; детермінанти (визначники) попиту;реагувати на зміну в ціні; щоб визначити еластичність; вплив зміни ціни на загальні витрати;шляхом множення ціни продукту на величину попиту; будь-яка точка на кривій попиту; спостерігаючи зміну в загальному обсязі видатків; зниження в ціні від $ 3 до $ 2; впливати на загальні витрати;залежати від еластичності; рухатися в протилежних напрямках; надзвичайно важливі для більшості підприємств; підвищувати доходи;попит на обидва продукти;представляти новий продукт на ринку;збільшити загальний дохід; відкласти покупку продукту;щоб скористатися найкращою ціною; сума доходу необхідна, щоб зробити покупку.
Give Ukrainian equivalents for the following word combinations.
Quantity of aspecific product at a given point in time; to cause a change in quantity demanded; to buy at the same prices; an entire demand curve; a price of related goods; bychanging the quantity demanded; at a particular price; to determinetotal expenditures; to test for elasticity; to stay open longer; in order to increase sales; to be tempted to raise theprice of a product; to increasetotal revenue from sales; consumer expenditures; to go down instead of up; to adjust prices repeatedly; to respond to new prices; to determine a new product’sdemand elasticity; to give a reasonably goodidea about smth; to tend tomake demand inelastic; adequate substitutes; to switch back and forthbetween the product and its substitute; a large portion of income.
A. The italicized words in the sentences below are found in this unit. Study the sentences. Then identify the part of the speech and write your own definition for the words on the line provided.
There is an inverse relationshipbetween the price of an item and the quantitydemanded.
inverse (___)________________________________________________
Higher prices are associated withsmaller amounts demanded.
prices (___)________________________________________________
To get the market demand curve, all wedo is add together the number of CDs thatMike and Julia would purchase at everypossible price.
add (___)________________________________________________
Then, we simply plot theprices and quantities on a separate graph.
plot (___)________________________________________________
The market demandcurve shows the demand for everyone inthe market.
market (___)________________________________________________
The reason we buy something in the firstplace is because we feel that the product isuseful and will give satisfaction.
product (___)________________________________________________
When the price of a product drops, consumerspay less and, as a result, have someextra income to spend.
extra (___)________________________________________________
A change in demand occurs when people decide to purchase different amounts of aproduct at the same price.
decide (___)________________________________________________
When we plot the numbers from the demand schedule,we get two separate demand curves.
numbers (___)________________________________________________
An increase in demand appears as a shift ofthe demand curve to the right.
shift (___)________________________________________________
B. Define the part of speech of the following words and translate them into Unikrainian without a dictionary.
1) to limit, limited, unlimited, limit, limitation;
2) to change, changing, changed, unchanged, change;
3) to affect, affected, unaffected, affecting.