Grammar practice
V. Find in the text some sentences in the Active Voice, copy them into your exercise books, give simple grammar analysis of these sentences.
VI. Find in the text sentences with the Gerunds and define their forms and functions. See Grammar in Use section if necessary.
VII. Find in the text sentences with the Infinitives and define their forms and functions. See Grammar in Use section if necessary.
VIII. Find in the text sentences with the Participles and define their forms and functions. See Grammar in Use section if necessary.
LANGUAGE PRACTICE
IX. Answer the following questions for general understanding
1. What is a definition of a market?
2. What are the types of markets?
3. What is the function of a market?
4. What is a major motive for consumers to buy?
5. What are the essential features of a market?
X. Match the word and the definition
|
1. Market |
a) one that offers for sale |
|
2. Buyer |
b) the act or process of substituting one thing for another |
|
3. Seller |
c) the creation of utility; esp: the making of goods available for use |
|
4. Production |
d) the area of economic activity in which buyers and sellers come together and the forces of supply and demand affect prices |
|
5. Exchange |
e) an individual acquiring possession, ownership, or rights to the use by payment |
XI. Translate into Russian
a) A market is a set of arrangements by which buyers and sellers are in contact to exchange goods or services.
b) Different markets perform the same economic function.
c) Consumption or demand is primarily, but not exclusively, a function of price.
d) Markets determine prices that ensure that the quantity people wish to buy equals the quantity people wish to sell.
e) A consumer buys more, not less, of a commodity at higher prices when a negative income effect dominates over the substitution effect.
f) Prices guide society in choosing what, how, and for whom to purchase.
g) We require a model of a typical market to understand price determination.
h) Inferior goods are those goods and services bought in smaller amounts as consumer incomes rise.
i) In an uncertain economy, especially an inflationary one, price expectation can affect demand.
XII. Translate from Russian into English
1. Рынок – это механизм, посредством которого цены управляют распределением ресурсов.
2. Некоторые рынки способствуют личной встрече покупателей и продавцов.
3. На других рынках посредники действуют от лица клиентов.
4. Экономической функцией рынков является определение цен, гарантирующих, что количество людей, желающих купить равно количеству людей, желающих продать.
5. Цена и количество всегда рассматриваются вместе.
XIII. Write a summary to the text «Market»
Tip:
SPEAKING
XIV. Work in small groups. Think of the model of any market, say fast food, fashion goods or pharmaceutical goods, study the features of that market and see how it works in practice
Tip:
SECTION 4.2. DEMAND, SUPPLY, AND EQUILIBRIUM
KEY VOCABULARY
I. Read and remember the following words
conceivable [ken'sɪ:vәbl] – постижимый, мыслимый, возможный, вероятный
instant ['ɪnstәnt] – мгновение, момент
bar [ba:] – плитка
assume [ә'zjum] – предполагать, допускать
incentive ['ɪnsәntɪv] – стимул, побуждение
lucrative ['lu:krәtɪv] – прибыльный
distinction [dɪs'tɪnkʃn] – различие, отличие
adjust [ә'ʤʌst] – приспосабливаться
decay [dɪ'keɪ] – разрушение
relevant to ['relɪvәnt tu] – уместный, относящийся к делу
be frustrated [bɪ: frʌstreɪtɪd] – быть расстроенным
shortage ['ʃɔ:tɪʤ] – нехватка, недостаток, дефицит