Assignments

1. Подберите к существительным в правой колонке соответствующее прилагательное слева и переведите сочетания:

financial customer word-of-mouth long-term price sensitive market

losses implications opportunities advertising loyalty investment competition

2. Укажите номера пропущенных слов, данных под чертой и переведите на русский язык следующие предложения.

1. One of the aims of successful business is … and … customers. 2. Managers are usually carried away … prices, … orders, … products. 3. A lot of companies have never calculated the amount of their … customers. 4. Every defecting customer brings the company thousands of dollars in … . 5. There exists a direct dependence between customer retention and … . 6. All the consumers provide … advertising. 7. Due to the clients it is difficult for other … to enter the market. 8. According to the ladder of customer loyalty the last level is … to persuade others.

1. defecting; 2. competitors; 3. profitability; 4. to attract, to retain; 5. word-of-mouth; 6. negotiating, securing, delivering; 7. an advocate; 8. potential revenue.

3. Ответьте на следующие вопросы:

1. What is success in business based on? 2. What do the managers of some companies sometimes forget? 3. What do customers do if they are badly and unqualitatively served? 4. Who costs more for any company: established customers or new ones? Why? 5. What are the levels of the ladder of customer loyalty?

4. Объясните на английском языке:

1. почему вы покупаете продукты (промышленные изделия в одном и том же магазине) супермаркете или в разных;

2. что нужно/можно сделать, чтобы увеличить/усилить «customer loyalty».

5. Прочитайте текст в5 без словаря и найдите абзац, который дает определение рыночной экономики.

6. Объясните на основе текста b5, как вы понимаете слова «экономическое чудо» (economic miracle).

Text B₅ ECONOMIC ORDER, NOT CHAOS

Before people study the way the market works, they see only a jumble (беспорядочная смесь) of different firms and product. Few of us stop to wonder how it is that food is produced in suitable amounts, gets transported to the right place; and arrives in a palatable form at the dinner table. But a close look at market system is convincing proof that is does not produce chaos and anarchy. A market system contains an internal logic.

A market economy is an elaborate mechanism for the coordination of people, activities, and business through a system of prices and markets. It is a communication device for pooling the knowledge and actions of millions of diverse individuals. Without information or computation, it solves a problem that the largest supercomputer could not solve today, involving millions of unknown variables and relations. Nobody designed the market; yet it functions remarkably well.

History’s most dramatic example of the effectiveness of market economy came in West Germany after World War II. In 1947, production and consumption had dropped to a low level. Price controls¹⁾ and thorough government regulation hobbled²⁾ markets. Money was worthless; factories closed down for lack of materials; trains could not run for lack of coal; coal could not be mined because miners were hungry; miners were hungry because peasants would not sell food for money and no goods were available for them to purchase in return. Markets were not functioning properly. People could not buy what they needed or sell what they produced at free–market prices.

Then in 1948, the government freed prices from controls and introduced a new currency³⁾, quickly putting the market mechanism back into effective operation. Very quickly production and consumption; rapidly rose once again what, how, and for whom were being resolved by markets and prices. People called it “an economic miracle”, but the recovery was in fact largely the result of a smoothly running market mechanism.

The point to emphasize is that markets perform similar miracles around us all the time-if only we take care to observe our economy carefully. Moreover, history records that economic and political crises often occur when the market mechanism breaks down.

¹⁾ controls – зд. ограничения

²⁾ to hobble – хромать, спотыкаться (напр. о характере развития экономики)

³⁾ currency – валюта, деньги

Письменно переведите текст С₅.

Text C₅ MARKET EQUILIBRIUM

At every moment, innumerable factors affect economic activity. Some people are buying while others are selling; firms are inventing new products while governments are passing laws to regulate pollution; foreigners are invading markets while domestic firms are moving their plants abroad. Yet in the midst of all this turmoil, markets are constantly solving the what, how, for whom.

As the markets balance all the forces operating on the economy, they are finding an equilibrium of supply and demand.

What is market equilibrium? It represents a balance among all the different buyers and sellers. Households and firms all want to buy or sell certain quantities depending upon the price that just balances the desires of buyers and sellers. Too high a price would mean a glut¹⁾ of goods with too much output; too low a price would produce long lines in stores and a deficiency of goods. Those prices for which buyers desire to buy exactly the quantity that sellers desire to sell yield an equilibrium of supply and demand.

¹⁾ glut – затоваривание (рынка); избыток