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0.When sellers want to sell some items badly enough, they will lower their prices.

A When prices are low enough, they send a "buy" signal to buyers (consumers), who can now afford the things they want.

B If pork prices are high, people are tempted to shift away from pork to hamburger, and if pork prices are low, people are tempted to shift from hamburger to pork.

C Producers strive for efficiency as a way of increasing their profits.

D The same trip will cause a person with a high income to cut back on a very different set of options.

E Left shoes and right shoes are an example.

F Blue jeans were once another example-people with higher incomes bought them less frequently than people with lower incomes.

G To do this, we will assume that all other factors are held constant.

H The amount of this wage determines how much the worker has to spend.

IThe lessit costs to produce an item, the more likely it is that its producers will earn a profit.

JWhen the price of a product goes up, the amount of other things that a person must give up in order to buy the product rises.

Ex.22. Read the text and decide whether the following statements are true

(T)or false (F). Correct the false statements.

1.Prices are not very important in our economy.

2.Sellers always lower prices for the goods they sell.

3.Prices carry information to buyers and sellers.

4.When prices are low, buyers will buy less.

5.Sellers can earn profit when prices are high enough.

6.Prices encourage business people to produce less if the prices are low.

7.Efficient firms will produce less with fewer raw materials.

8.All of us will benefit if producers increase their profits through efficiency.

9.Prices tell who receives the economy’s output.

10.What the worker can buy will depend upon the economic situation in the country.

11.The amount of income a person receives doesn’t affect the cost of buying.

12.Increases in people's incomes raise consumption of most products. 13.Prices of related goods also influence how much of a product people buy.

14.Jeans were a symbol of "upper-class" clothes.

15.The number of consumers in the market and their expectations about future prices, incomes, and quality changes are other factors that influence the amount of a particular product that people are willing to buy.

Ex.23. Read the text again and answer the following questions.

1.Why is the US described as a price-directed economy?

2.What happens when prices go up?

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3.How can people get benefit from efficient work of some firms?

4.How can the prices determine who will receive the things produced?

5.What is the most obvious cost a person bears ?

6.Why does price reflect cost? Give an example.

7.In what way does the amount of income a person receives affect the cost of buying an item?

8.What are the normal goods and inferior goods? Give examples.

9.What is the difference between substitutes and complements?

10.What are some other factors that influence the amount of a particular product that people are willing to buy?

TEXT C: TWO FACTORS THAT AFFECT LABOUR SUPPLY AND

DEMAND

Before reading

If the price/cost factor is the main to affect supply and demand of commodity goods, how does it refer to the labour market? Can you think of any other factor?

Reading

Read an article from the website ehow.com and do the tasks following the text.

Know the factors that affect your labour supply and demand so your business can remain competitive.

(1)In every business that deals with a collection of employees, labour supply and demand must be a consideration by management or ownership. No business that requires additional employees can reach their potential without them; striking a balance between the labour available and the labour needed is always a concern that relates to productivity and to profits. Understanding the main factors that can sway labour supply and demand can help you to run a successful business.

(2)Before learning the factors that affect labour demand, you must first know exactly what is meant by the term. Simply put, labour demand is the amount of workers needed to get the job done. Labour demand is a decision by management or ownership concerning how many employees or labour hours to use to complete a necessary task. Usually, the decision is heavily influenced by money. It is in the company's best interests to use as little labour as necessary to save money while still accomplishing the workload that is required.

(3)On the opposite side of this carefully balanced scale is labour supply. Labour supply is simply the amount of workers available to a business at a given time. During times when labour supply is low, it can be tougher to retain employees because of other opportunities and fewer out-of-work people.

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(4)The wage factor is the most significant issue affecting labour supply and demand. People do not typically work for fun. They work for money and the amount they get paid is a central factor in deciding whether they will take a job or stay at a job when something else is available. Higher wages increase the labour supply for a company because it makes the job more attractive to more people. Lower wages, however, may increase the labour demand because companies can afford to hire more people at a lower rate than at a higher rate. This results in a constant tug of war in the delicate balance between supply and demand.

(5)Barriers to entry are a second factor that affects labour supply and demand. Demand from hiring companies may go up because the employees they seek are specialized in some particular skill or have many requirements of new hires. Meanwhile, the labour supply decreases significantly because of these barriers. If a company only considers master's degree holders for a position, the supply of candidates for the job drops significantly compared to a company seeking candidates with a bachelor's degree. In addition, companies that require complicated testing or that require new hires to "jump through hoops" to getthrough the interview process usually find that their labour supply drops off significantly because of other options in the market that are easier to nail down.

Task 1. Explain in your own words what labour demand and labour supply mean.

Task 2. Paraphrase the following sentence: Striking a balance between the labour available and the labour needed is always a concern that relates to productivity and to profits. (para.1)

Task 3. Why is it more difficult to retain employees when labour supply is low? (para.3)

Task 4. Explain what consequences changes in wages have. (para.4)

Task 5. Expression “jump through hoops” means

a)to do smth too soon, before the right time;

b)to do smth difficult in order to achieve smth;

c)to enthusiastically accept an opportunity or offer. (para.5)

BUSINESS COMMUNICATION

MAKING AN APPOINTMENT

1.Are you busy this week?

2.What are you doing tonight?

3.Where are you having lunch tomorrow?

4.What plans do you have for the next seven days?

5.What is your next appointment?

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Ex.1. Read the definitions from Longman Dictionary of Contemporary English.

ap point ment

1 [countable] an arrangement for a meeting at an agreed time and place, for a particular purpose

You can say: have an appointment, make an appointment, an appointment to do something, book an appointment (BrE), schedule an appointment (AmE), cancel an appointment, miss an appointment, doctor’s/dentist’s/dental appointment.

She has an appointment with a client at 10.30.

You should phone his secretary if you want to make an appointment. I have an appointment to see the doctor.

Please give us two days’ notice if you have to cancel an appointment. I was already forty-five minutes late for mydental appointment.

keep an appointment (go to an appointment you have arranged): For the third time in a row, she had failed to keep her appointment .

by appointment only (only if you make an appointment in advance): All consultations are by appointment only.

Ex.2. Replace the underlined expressions with appropriate forms of the verbs from Ex.1 above.

1.An appointment with John Smith was organized for 1 February.

2.But not everyone could go to it.

3.Even John Smith could not attend it.

4.So it was decided not to have the appointment at all.

5.It was arranged for 1 March.

6.She arranged an appointment for her son to see the doctor.

7.I've got a dental appointment at 3o'clock.

8.He failed to go to the appointment he had arranged.

9.Visiting the castle is only at the time that has been arranged in advance.

10.You should phone his secretary if you want toput an appointment in your diary.

Ex.3. Questions for discussion.

1.What are typical problems of business appointments?

2.How can you explain the aim of business appointments?

3.Have you ever forgotten an appointment?

4.How do you remember your appointments?

5.Making an appointment can be complicated if two people are very busy. How do you find time that is convenient for both of you?

6.Imagine you are making a telephone call. This time you are arranging an appointment to see someone. What phrases might you use or hear?

Ex.4. Read a sample telephone conversation.

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Michelle: Mr Hibberd’s office.

Peter: Hello, can I speak to Brian Hibberd, please?

Michelle: I’m afraid he’s in a meeting until lunchtime. Can I take a message?

Peter:

Well, I’d like toarrange an appointment to see him, please. It’s Peter

 

Jefferson here.

Michelle: Could you hold on for a minute, Mr Jefferson. I’ll just look in the diary. So when’s it convenient for you?

Peter: Some time next week if possible. I know he’s away the following week. Michelle: Yes, that’s right, he’s on holiday for a fortnight.

Peter:

Well, I need to see him before he goes away. So would next

 

Wednesday be okay?

Michelle: Wednesday. Let me see. He's out of the office all morning. But he's free in the afternoon, after about three.

Peter:

Three o'clock is going to be a little difficult. But I could make it after

 

four.

Michelle: So shall we say 4.15 next Wednesday, in Mr Hibberd's office?

Peter:

Yes, that sounds fine. Thanks very much.

Michelle: Okay, then. Bye.

Ex.5. Read and study useful phrases.

-I’d like to make an appointment with you.

-Could we meet to discuss...

-What day will be convenient for you?

-What time would be convenient?

-How about...?

-I’ll look forward to seeing you.

Asking to meet

-Are you available on the 17th?

-Can we meet on the 16th?

-How does the 3rd sound to you?

-Are you free next week?

-Would Friday suit you?

-Is next Tuesday convenient for you?

-What about some time next week?

Responding to an appointment:

Agreeing on a date

-Yes, Thursday is fine.

-Thursday suits me.

-Thursday would be perfect.

-Yes, Monday would be fine.

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Suggesting a different date

-I'm afraid I can't on the 3rd. What about the 6th?

-I'm sorry, I won't be able to make it on Monday. Could we meet on Tuesday instead?

-Ah, Wednesday is going to be a little difficult. I'd much prefer Friday, if that's all right with you.

-I really don't think I can make it on the 17th. Can we meet up on the 19th?

Setting a time

-Is 3pm a good time for you?

-If possible, I'd like to meet in the morning.

-How does 2 pm sound to you?

Changing the arrangement

-We were going to meet next Friday but something urgent has come up. I'm very sorry.

-I'm afraid that I'm not going to be able to meet you after all. Can we fix another time?

-Something has just come up and I won't be able to meet you this afternoon. Can we make another time?

-Unfortunately, due to some unforeseen business, I will be unable to keep our appointment for tomorrow afternoon. Would it be possible to arrange another time later in the week?

-I’m afraid that I have to cancel our meeting on Wednesday, as something unexpected has come up.

-I'm afraid that I'm not going to be able to meet you after all. Can we fix another time?

Ex.6. Read and translate the dialogue.

Ann: Hello.

Serge: Hi, Ann. It’s Serge. I’m calling to make an appointment for LeeAnn. She wants to meet Miles next week sometime.

Ann: Let me take a look at his appointment schedule. Let’s see, can LeeAnn be here on Tuesday at 2 pm?

Serge: No, she’s tied up all Tuesday afternoon, but I could shuffle around some of her commitments to free her up on Tuesday morning, if that helps.

Ann: Unfortunately, Tuesday morning is out. I could bump someone on Wednesday afternoon at 3 pm. Can LeeAnn be here at that time?

Serge: She has an appointment at 2:30 in this office, but it shouldn’t last more than a half hour. She should be able to make it by 3 o’clock if she’s not running late. Better yet, I may be able tochange something, maybe push back that appointment until she gets back to the office. Why don’t you pencil her in for now?

Ann: Okay, I’ll do that, but can you confirm with me by Monday?

Serge: Sure, I’ll give you a heads up no later than noon on Monday if I can’t push back her other appointment.

Ann: Okay, sounds good. Tell me, do you ever feel like we’re spinning our

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wheels, spending our days making, changing, and canceling appointments? Serge: Yeah, every single day!

Ex. 7. Role-play the dialogue.

Rachel: Hello, my name is Rachel Jones and I'd like to make an appointment to speak to Mr. Smith.

Secretary: Can I ask you what is the purpose of the appointment?

Rachel: Of course. I met him at a luncheon last week and he asked me to call him to make an appointment to talk about a job.

Secretary: Okay. Mr. Smith has an appointment available on Monday June 10th at 4 pm or Thursday June 13th at 2 pm. Which one would be better for you?

Rachel: Monday at 4pm would be perfect.

Secretary: Excellent. I've got you down for that day and time. Can I have your phone number just in case something comes up and he needs to reschedule?

Rachel: Yes, certainly. It is 085-897-9393.

Secretary: (repeats the phone number to make sure it's correct) 085-897-9393. Rachel: That's it. Thank you so much. I'll see you on Monday June 10th at 4 pm. Secretary: Have a nice day!

Ex.8. Complete the dialogue with the words and word combinations from the box.

A)

are you free, fine, I'll see you, I'm calling about, speaking, visiting

Pam: Hello. Pam Robertson __________ . Bob: Oh hello, Pam. It's Bob here.

Pam: Hello Bob. How can I help you?

Bob: _______ the new advertising budget meeting. ______ on Tuesday afternoon? Pam: Let me see. Sorry I'm __________ the new factory all day on Tuesday. How about Wednesday at two p.m.?

Bob: I'm meeting a customer in the morning, but the afternoon is __________ . Pam: Good. So __________ on Wednesday then. Good bye.

Bob: Good bye.

B)

call me, can I help you, cannot leave, could you come, how about a little later,

I’d like to make an appointment, is that OK with you, may not be able to arrive, will be seen, work

A:Good morning. Dr. Brown's office. __________?

A:Good morning. I __________with Dr. Brown.

B:Ok. Just a minute. __________on Monday at 1:00 pm?

A: No. Monday is a busy day for me. I __________until 9:00 pm. I

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__________the office early.

B: What about Wednesday at 6:00 pm? __________?

A:__________? You know how heavy the traffic is at 6. I __________on time.

B:OK. You __________by Dr. Brown on Wednesday at 7. OK? If you can't come

for any reason, please __________and I will try to set another time. B: OK. Thanks.

Ex.9. Work with a partner.

Your partner wants to arrange a meeting next week. However, you're very busy! Think of three reasons why you are busy.

1)

2)

3)

Role-play the conversations with your partner:

1.Your partner will suggest a time. Say you are busy, and use one of the above reasons.

2.Your partner will then suggest a different time. Accept the second time.

Ex.10. Work in pairs. Practice making and changing an appointment.You are going to role-play five situations. Refer to Ex. 5 for useful phrases.

1. A. You're a chemical engineer who works in the company's R&D labs. You're attending a conference on a new chemical processing technology. A friend from college (who is now a professor doing research in the same area) will be attending the conference. You want to schedule some time to talk to him and get his perspective on recent developments in the field. But he is hard to reach.

B.An old friend from college (who is doing research work in the same field as you in the R&D labs of a large corporation) wants to get together and talk. You try to find some time for him in your busy schedule.

2.A. You sell expensive medical equipment. You have to make an appointment to talk with a doctor who is very influential at a hospital where you're trying to close a sale. You want to get him in the right mood so you invite him to play a round of golf at an expensive country club.

B.You're a doctor at an important university hospital. A salesman selling cancer treatment equipment has been hounding you trying to get some time to talk with you. Now he wants to meet over golf which doesn't seem too bad to you. You try to find some time for him in your busy schedule.

3.A. You own 20% of a company and feel that your ideas about where the company should be heading aren't being taken into account by the company's management. You schedule a meeting with the CEO to talk about this.

B.You are the CEO of a company. A major stockholder in the company has called you up repeatedly trying to get some time to talk to you about his vision of the future for the company. His ideas aren't really compatible with yours but you think it judicious to hear him out. You schedule some time for him over lunch.

4.A. Your friend has a job providing tech support to sales reps at a promising software startup. You've heard that there's an opening and you want to

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talk to your friend about the possibility of you landing the job. You suggest lunch or beer after work.

B.One of your best friends has just arrived back from his adventures in Asia. He's trying to find a job again and thinks you can help him to talk to your boss into giving him a job in customer support. You both decide to meet over lunch.

5.A. You're an investment banker visiting Jakarta to set up some merger and acquisition deals. A reporter wants to interview you.

B.You're a reporter who wants to write an insider story on the corporate reorganizations that are taking place in the wake of the Asian financial crisis. You make an appointment to talk with an investment banker (a friend of a friend) to talk about what's going on.

Ex.11. Imagine and name a company you’d like to work for. Design your own “business card”.

Fill theblank weekly planner with as many appointments as possible. Play a role of a business person arranging meetings during work hours.

Agree on when to meet, where to meet, and what to discuss. You cannot meet the same person twice.

Possible reasons why two people might have a business meeting: buying or selling, cooperating, asking advice, discussing a legal issue, etc.

9am

2pm

6pm

M

T

W

T

F

S

S

Ex.12. Arrange personal meetings with your friends, outside work hours.

You might meet, for example to eat a meal, climb a hill, watch TV, go dancing, go shopping, play sport, etc.

You cannot meet the same person twice. Sentences appropriate to use with friends: Do you want to meet some time?

When are you free? OK, see you then!

GRAMMAR

PAST PERFECT

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Ex.1. Read the sentences and define the tense forms. Translate the sentences into Ukrainian.

1.They had completed all the preparations for the fancy-dress ball by 5 o’clock.

2.The man thanked the doctor who had cured him of his disease.

3.Hardly had he touched the pillow when he fell asleep.

4.He made great progress last year and could read the texts without a dictionary. He had worked at his language very hard.

5.In the morning, the passengers felt good after the night they had spent on the train.

6.Last night he completed the experiment he had begun some months before.

7.No sooner had she opened the drawer than she found the copy of the document.

8.They had been partners for some 10 years before I met them.

Ex.2. Complete the sentences in the Past Perfect.

1.Without any reason, the customer returned the goods that we ________(deliver) . 2.Before Ellen could say anything, Cindy _______(hang up) the phone.

3.When William was employed, I ______(work / already) here for three years. 4.I______ (start / just) to type the letter, when the phone rang.

5.When I sent the mail, I realised that I ______(forget) to attach the file.

6.Sue and Tom are best friends, though before the meeting last month they

_______(know / not even) each other.

7.Catherine _______(meet / not) Phil Brown before the trade fair in May. 8.We spoke about the conference that _______(take place) the week before. 9.After the meeting I thanked Misses Last, who _______ (manage) everything.

10._______(you / gain) experience in that field before you started to work for us?

Ex. 3. Write the verbs in the Past Perfect. Use the negative form.

1.In the shopping centre, I met a friend who I (see / not) for ages.

2.The burglar could walk right into the house because you (lock / not) the door.

3.We lost the match because we (practise / not) the days before.

4.The secretary quickly copied the papers that she (read / not) .

5.We ate at a restaurant last night because I (buy / not) anything for dinner.

6.When we came back, it was cold in the house because Alice (close / not) the windows.

7.Margaret was angry with me all day long just because I (greet / not) him first.

8.When I met Jane at eleven o’clock, she (have / not) breakfast yet.

9.I couldn’t go to the cinema with my friends last night because I (finish / not) my homework yet.

10.Fred answered my question although I (ask / not) him.

Ex. 4. In pairs ask and answer questions in the Past Perfect.

1.(what / Bob / do) that he was kept in after his lectures? - What had Bob done that he was kept in after his lectures?- He had missed more than 10 seminars.

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