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Pic. 6

Pic. 5

Pic. 7 Pic. 8

37. Match the beginnings (1-6) with the endings (a-f).

1.An advantage of the euro is that you don’t need to order foreign ……

2.I’d like to know how much I have in my bank ……

3.What’s the dollar-euro exchange ……

4.Don’t worry if the bank is closed; there’s a cash ……

5.When I travel on business, I always use a credit ……

6.Your bank ……

a)… rate today, please?

b)… machine where you can take out some money.

c)… statement gives details of all the money going in and out of your account.

d)… currency or traveller’s cheques when traveling in most of Europe.

e)… account, please.

f)… card to pay restaurant and hotel bills.

38. Do you know what the Euro is? What do you know about it?

Pic. 9

39. Are the statements true or false?

1.The euro is Europe’s first single currency since the Roman Empire.

2.More than 300 million people live in the *Eurozone.

3.The Italian lira was Europe’s oldest currency. It ended with the euro.

4.Northern Ireland is part of the Eurozone.

41.Work in groups. What do students in your group think of the Euro? How has it affected your business / personal lives? If your country is not in a common currency zone, would it be a good idea to join one? Let one of the students report your ideas to the rest of the group.

42.Complete the text for the Australian dollar against the euro. Try to use all the words from the box at least once.

Let’s look back for a moment at how the dollar has performed against the euro ¹…… the last six months. It stayed steady for the first month of the year at around 0.93 euros to one dollar. 2 …… February however, its value fell 3 …… two points 4 …… 0.93 5 …… 0.91 euros. 6 …… the second half of February the dollar rose 7 …… almost 0.96 euros, where it remained stable for the first half of March. 8 …… the next six weeks, it dropped 9 …… almost 10 points 10 …… 0.86 euros. It then increased again slowly 11 …… May and June.

from: ProFile1

43. Look at the verbs in italics in the text above, and put them in the table.

44. Answer the clues to complete the crossword. Seven across has been done as an example.

Across

2. ‘Oh no! We are in the …… (colour) again this month. How do we spend so much money?’ 4. Metal money.

7. ‘What’s the exchange rate between the euro and the dollar this week?’

11.A printed list of the money going into and out of account every month.

12.Something which tells you what you have to pay for services or goods.

14.‘Great! There’s more money in my bank …… than I thought!’

Down

1.VISA, Mastercard, etc. (two words)

2.A piece of paper which shows what you bought, and proves how much you paid for something.

5.‘You ……. me Є50, when are you going to pay me back?’

6.The official money of a country or region, e.g. US dollar, the euro.

8.Paper money.

9.The noun from ‘to pay’

10.Where to keep your money safe.

13.‘I didn’t have enough money to buy car so I asked my brother for a …… .’

Pic. 10

45.What is the secret word?

46.Complete the text with words from the box.

If we consider the long history of mankind, 1money hasn’t been around very long at all. The first 2…… appeared in Turkey in around the 7th century BC; and the first paper money, which is what we call 3……, appeared in China in the 14th century. The Italians invented modern 4…… and book-keeping around the same time. Most royal heads of Europe had a 5…… from a Lombard banker. Until fifty years ago very few people had a personal bank 6…… . Nowadays, most of us have one to receive our salaries andwrite 7…… for everyday 8…… such as paying bills. In some countries, people walk round with large amounts of 9……, but in Britain and the States 10…… are more popular, and they are even used in public telephones and parking meters.

from: ProFile1

47. Match the phrasal verbs (1 – 5) in italics to their meanings (a-e).

1.Please make out your cheque to Hannah Green and associates. ……

2.It takes my bank two working days to carry out even a simple transaction. ……

3.Could you fill in this form with your personal details, please. ……

4.I’d like to pay this cheque into my savings account, please. ……

5.We need to take out lots of cash to pay the workmen. …….

a)to make a deposit;

b)to perform;

c)to remove / take away;

d)to complete with information;

e)to write the name of a person or business on a cheque.

48. Some key banking words are built around the verb draw. Study the words in context in the sentences (1-3), then choose the correct alternative in the sentences (a-c) below.

1.Good morning, I’d like to withdraw Є1,000 in cash from my current account, please.

2.Oh no, look at this letter from the bank. We are Є300 overdrawn. How has this happened?

3.Good news … the bank has agreed to increase the firm’s overdraft.

a)If you are overdrawn, your account is negative / positive.

b)If you have an overdraft, the bank owes you money / you owe money to the bank.

c)If you withdraw money from your account (make a withdrawal) you put money in / take money out.

49. Read the article and match the underlined words and expressions (1-6) to definitions (a-f) below.

Pic. 11

Credit card inventor dies at 88

The man who millions of shoppers have to thank – or blame – for the state of their finances has died aged 88. In 1958, during the US post-war 1consumer boom, American bank executive Joseph Williams invented an early version of the modern-day Visa card. The Diners Club card already existed and allowed shoppers to make 2cash-less transactions. But the 3balance had to be paid off in full within 30 days. Some banks offered credit on their bank cards, but these could not be used nation-wide. Williams saw 4a gap in the market for a card that could be used across the country. He and his team began distributing the BankAmerica card in California. Over the next ten years the card was 5licensed by other banks, before it was finally renamed the Visa card in 1970. Now, there are an estimated 785m major credit cards in circulation in the US. The average US credit card debt carried over each month per 6household last year was nearly $9,000 (£5,500), triple the average of $3,000 (£1,800) in 1990. In Britain, the average UK household today owes more than £6,000 on credit and *store cards.

*store card = a kind of credit card which you can use to buy goods in the department store which issued it. (from ProFile1)

a)a home;

b)paying for things without handling real money;

c)a missing service / product which is identified as a business opportunity;

d)a period when business is good because people are spending more;

e)the final amount owing in an account;

f)given permission to do something in return for money.

50. Complete the table about the cards which are mentioned. CARD ADVANTAGES DISADVANTAGE

S / CONDITIONS

51. Label the timeline with key details about the evolution of the credit card, taken from the text. 1958 1960s 1970 Nowadays

Card was licensed by the banks

52. Read the text below and answer the questions.

1.Which is more important to you: your time or your money?

2.The following daily activities all take up important time. Which one would you pay someone to do?

Economics professor, Ian Walker, of Warwick University, has written a mathematical formula so that we can calculate how much time costs. For example, the average British minute is worth about £0.13. Brushing your teeth for three minutes uses up £0.4 in ‘lost’ time, and washing a car by hand has a cost of £4.50. The study found that the typical cost of cooking dinner (the value of time spent + the value of the ingredients) was £15.43!

from: ProFile1

53. Read what four people said about their time at work and answer the questions below.

Who:

1)must finish his / her work on time? ……;

2)has found a way to do something more quickly? ……;

3)has spent time and money on improving the business? ……;

4)thinks he / she uses his / her time badly? …… .

55. Read the text below about a German electronics wholesaler and his problems with time. Match the words in italics in the text below to the definitions (1-6).

1)time from the customer’s order to delivery ……;

2)when something is late ……;

3)arrival of goods at a person’s or company’s address ……;

4)sending products from the factory ……;

5)all the stages leading to a result ……;

6)the latest time for completing a task …… .

Pic. 12

Getting our products to our customers is a long and difficult process. Our main problem is time. Customers order our printers and then we have to arrange delivery to their offices. The problem is that we make the printers in the UK and it can take a long time for our factory to dispatch the printers to our customers in Germany. This can take a long time. Sometimes we miss deadlines: we say we want the printers with the customer in two weeks, but they often get them four weeks later! There are many reasons for the delays: the factory is too busy, problems with the paperwork, etc. To be successful, we need to keep our lead time short – it shouldn’t take longer than two weeks from the customer’s order to the moment the printer arrives at their office.

from: ProFile1

56.Look at the title of the article below. What do you think it will be about?

57.Read the article to find out:

1.What problems did this company have?

2.What did they decide to do?

Invest in time!

When Peter Fenn started Fenn Tool Ltd in 1982, there were only three employees based in an old church hall. They designed special tools for the telecommunications and aerospace industries. The company’s suppliers in Austria and Switzerland made the tools, which they then dispatched by lorry to Fenn Tool Ltd in the UK.

However, the problem was that supply took six to ten weeks, and Fenn Tool Ltd couldn’t meet their customers’ urgent deadlines.

So they decided to buy a computer design and manufacturing package so that they could do the whole job themselves. They went ahead and spent £250,000. It was a big financial risk, but it has really changed the business.

Fenn Tool has cut the lead time down to only 48 hours from order to finished product.

In January this year, the company won a £30,000 prize as Small Business of the Year and now has a client list that includes Rolls-Royce, Marconi and BAE Systems. Financial Director, Sarah Potter, says that she would advise other small businesses to take the risk and in vest in new technology.

from: ProFile1

58. Look at these four scenes from the article (Ex. 57) and put them in the correct order.

Pic. 13

Pic. 14

Pic. 15

Pic. 16

59. Read the text, written by an economist, about employment costs. Decide if statements 1-6 are true or false.

For many businesses ‘time (in particular the workers’ time) equals money’ – this is why businesses in developed economies with high employment costs are always searching for ways to cut their costs.

Two main approaches are open to businesses: to invest in technology and reduce the number of man hours spent on the various tasks of the job, or to relocate production to countries with lower labour costs.

In the first approach, equipment replaces human labour. Machines and robots can work twenty-four hours a day, don’t go on strike, and never take time off for lunch or holidays! In the second, labour-intensive jobs, such as in the clothing or footwear industries, are exported to countries as factories are moved to countries where wages are lower.

Relocation to other countries is also affecting service industries. In Britain, jobs in some call centres have vanished down cables to English-speaking workers in India or the Philippines.

Western society could eventually end up with a few highly-trained and well-paid workers in technical fields, with armies of low-skilled workers struggling to make a living in the minimum wage service industries.

from: ProFile1

1.Business are always looking for ways to cut costs.

2.There are a large number of ways to cut labour costs.

3.Investing in machines and equipment can reduce the need for human labour.

4.Social protection can lead to job losses.

5.Service industries are protected from these changes.

6.A lot of people may be condemned to working in low-paid jobs.

60.Complete the notes to produce a summary of the article you have just read.

TIME = MONEY

▼

In developed countries labour costs are high because

……………………………………………………………………………

▼

Two ways of reducing costs;

▼

first way:

…………………………………………………………………………….

▼

second way:

…………………………………………………………………………….

▼

Long-term consequences:

…………………………………………………………………………….

61.Read the extract and answer the questions after it.

More than one in seventeen British workers work from home, with the level rising every year.

However, Mr Evans, 41, who works for IBM, decided he would prefer to go back to an office after spending several months working from home. He thought it would be better for his career, ‘The coffee machine chats are an important part of working life’, he says.

from: ProFile1

1.What technology do you think Mr Evans needed to work from home?

2.Why did he want to go back to work in an office?

3.Do you ever work from home?

4.If you had the choice, would you work from home or in an office? Why?

62. Read the text below and match the words in italics to the definitions (1-4).

UR Fashion plc began as a shop and it has now decided to enter the world of e-commerce and to sell over the Internet as well. It has set up a website and, in future, UR Fashion customers will be able to access the website to place orders. The website is user-friendly, so it will be easy for customers to understand, and to find what they are looking for.

from: ProFile1

1)easy for people to use;

2)to make a place on the Internet you can put information about yourself;

3)doing business electronically by using the Internet;

4) enter.

63. Complete sentences 1-3 below with the words from the box.

1.If you have no time to go to the shops, you may prefer to …… online.

2.To make an online ……, you type in your credit card details.

3.Many businesses now include online……

64. Look at the pictures (pic. 17 – 22). Which of the products and services do you think would/wouldn’t be sold well online?

Pic. 19

Pic. 20

Pic. 21

Pic. 22

65.Read the article in Ex. 66. Were your predictions in Ex. 64 right?

66.Are the following statements true or false? Read the article and check your answers.

1.Companies which have mail order catalogues should sell online.

2.Office supplies are good products for an online business.

3.Busy people are good online customers.

4.It is bad news if your competitors are online.

5. Niche products are never successful online.

If you are unsure whether your business can sell successfully online, consider the following questions:

What do you sell?

Products sold through catalogues and other direct channels usually do well on the web too. Some services, such as travel planning, are also suitable for online sales. Below is a list of types of products and services that might sell well online and those that may not.

Easy to sell online:

Products which can be sent easily through the post.

Services or goods which customers don’t need to see or touch before buying.

Things you need and have to buy often.

Technology products.

Difficult to sell online:

Products that are difficult to ship.

Services that can only sell in a local market.

Products which customers may want to customize to their own tasted / needs.

Are your customers online?

The most important e-commerce question to ask is: Do your customers use the Internet? Do they go online to buy the kind of products and services you plan to sell? For example, if your customers have busy lifestyles, the timesaving advantages of shopping online may appeal to them.

Are your competitors online?

It’s a good sign if your main competitors are already online. But you need to make your website different! For instance, if you want to sell children’s toys online, it may be difficult to complete against the e-commerce efforts of national toy store chains. Look for a niche market such as educational toys, or toys based on book characters – you may be able to compete more successfully.

from: ProFile1

67. Search the square and find words connected with business online (30 words). The letters which are left make a secret word which is repeated. What is the word?

Make the correct word boundaries and you will know the answers.

GOOGLESEARCHCOMPUTERSCROLLECOMMERCESCREENMOUSELOGONBUSINESSONLINEEMAILCU RSORWEBDIGITALCLICKMODEMWEBSITENETWORKOFICESURFUSERFRIENDLYACCESSRAWSLOTD OWNLOADLINKICONINTERNETHOMEPAGECRASH

Rearrange the letters and you will know a secret word.

SORADWSP

68. Match the words from the square in Ex. 67 to the definitions (1 – 14).

1.Another name for the web. _ _ _ _ _ _ _ _

2.A message sent electronically by computer. _ _ _ _ _

3.What you look at when you work at your computer. _ _ _ _ _ _