- •English for future economists
- •N.A. Shpak
- •O.L. Shevchenko
- •Передмова
- •I. Practise the pronunciation of the following words.
- •II. Before you read answer the following questions.
- •III. Read and memorize the following words and word —combinations.
- •IV. Text а
- •V. Give the English equivalents of the following.
- •VI. Fill in the gaps with the words and expressions from the text a.
- •VII. Find pairs of words as they occur in the text.
- •VIII. Answer the following questions.
- •IX. Match the following terms with their definitions.
- •X. Fill in the gaps with the words from the list.
- •XI. Translate into English.
- •XII. Match the equivalents before reading.
- •XIII. Text b
- •XIV. Find in the text.
- •XV. Find the words in the text that mean.
- •XVI. Translate the following into Ukrainian.
- •XVII. Text c
- •XVIII. Answer the following questions.
- •XX. Add an appropriate preposition to each of the following sentences where indicated.
- •XXI. Study the following words and word-combinations. What are their Ukrainian equivalents?
- •XXII. Translate the following sentences into Ukrainian.
- •XXIII. Study the following words and word combinations. Make your own sentences to describe different trends of economic development.
- •Increase, raise, put up, step up, extend, expand, rise, grow, soar, boom;
- •II. Before you read answer the following questions.
- •III. Read and memorize the words and word — combinations.
- •IV. Text а Traditional Economy
- •V. Find English equivalents.
- •VI. Find the synonyms among the following words.
- •VII. Find the antonyms.
- •VIII. Complete the sentences:
- •IX. Describe the traditional economy.
- •X. Text в Command Economy
- •XI. Translate the following words and word-combinations:
- •XII. Find the equivalents in the text.
- •XIII. Read and translate the definitions.
- •XIV. Complete the sentences:
- •XV. Describe the command economy.
- •XVI. Text c Market Economy
- •XVII. Find the equivalents in the text:
- •XVIII. Complete the following sentences:
- •XIX. Fill in the gaps with the given words.
- •XX. Describe the market economy.
- •XXI. Text d
- •XXIV. Put questions to the sentences of the exercise XXIII.
- •XXV. Answer the questions.
- •I. Practise the pronunciation of the following words.
- •V. Answer the following questions.
- •VI. Give English equivalents for the following Ukrainian words and word-
- •VII. Match the term from the left-hand column with its definition from
- •VIII. What kind of industry do you work in?
- •IX. A) What kind of service do you render?
- •X. Choose one or more of the following products and describe (in as much
- •XI. Read a magazine article about James Dyson's product and complete it with suitable words from the box.
- •XII. Read the sentences and supply the missing vowels for each adjective.
- •XIII. Complete the text with the best word. The life cycle of a product
- •XIV. Listen to a sales manager presenting a product to some buyer. Which of
- •XV. Presenting a product. Complete the text with words from the box.
- •XVI. Look at these advertisements. Correct any mistakes in the order of the adjectives.
- •Items for sale
- •XVII. Translate into English.
- •XVIII. Text в Factors of production
- •XIX. Answer the following questions.
- •XX. Join the halves.
- •XXI. Read the following sentences and say if they are true or false.
- •Unit IV
- •I. Practise the pronunciation of the following words.
- •II. Before reading the text answer the following questions.
- •III. Read and memorize the following words and word- combinations.
- •IV. Text а Demand
- •V. Match the terms on the left with their Ukrainian equivalents on the right.
- •VI. Answer the following questions.
- •VII. Make up your own 5 sentences using word combinations from Ex.VI
- •IX. Choose the correct answer.
- •X. Translate into English.
- •XI. Text в Supply and market price
- •XII. Answer the following questions.
- •XIII. Re-read the text to find out which of the following statements are correct.
- •XIV. Match the following English word combinations with their Ukrainian
- •XV. Choose the correct answer.
- •2. When university students leave for the summer holiday, the demand for meals at the local cafe declines. This results in:
- •4. A shift of supply is defined as a change in the:
- •XVI. Text c Why prices are important in a market economy
- •XVII. Match the synonyms.
- •XVIII. Find Ukrainian equivalents for the following phrases.
- •XIX. Act as an interpreter for a. And b.
- •IV. Text a
- •VI. Find in the text the English equivalents of the following.
- •VII. Fill the gaps with the words from the list.
- •Inefficient and frustrating, commodities, inventions, money, coincidence, shapes and sizes, overcome, precious metals.
- •VIII. Match the following words with their definitions.
- •IX. Answer the following questions.
- •X. Read and memorize the words and word-combinations.
- •XI. Text b
- •XII. Match the equivalents of the following words.
- •XIII. Find the English equivalents of the following.
- •XIV. Complete the sentences.
- •XV. Answer the following questions.
- •XVI. Read and memorize the following words.
- •XVII. Text c
- •XVIII. Match the equivalents of the following words.
- •XIX. Find the word with opposite meaning.
- •XX. Match the synonym.
- •XXI. Put the words in correct order and make the sentences.
- •XXII. Complete the sentences with the words from the list.
- •XXIII. Choose the correct alternative to complete the sentences:
- •I. Practise the pronunciation of the following words.
- •II. Before reading the text answer the following questions.
- •III. Read and memorize the words and word-combinations.
- •IV. Text a
- •VI. Match the equivalents of the following words.
- •VII. Fill the gaps with the words from the list.
- •VIII. Answer the following questions.
- •IX. Read and memorize the words and word-combinations.
- •XI. Text b
- •Investment Banks
- •XI. Translate the words and word-combinations according to the text.
- •XII. Match the equivalents of the following words.
- •XIII. Match the synonyms.
- •XIV. Complete the sentences.
- •XV. Answer the following questions.
- •XVI. Read, translate and memorize the following statements.
- •Unit VII
- •IV. Answer the following questions.
- •V. Give English equivalents for the following Ukrainian words and word-combinations.
- •VI. Find equivalents.
- •VII. Complete the sentences with words from the box.
- •VIII. Translate into English.
- •IX. Practise the pronunciation of the following words.
- •X. Before you read the text answer the following questions.
- •XI. Read and memorize the words and word-combinations.
- •XII. Text b What is accounting
- •XIII. Answer the questions on the text above.
- •XV. Match the following terms with their definitions.
- •XVI. Fill the blanks with proper prepositions or adverbs if necessary.
- •XVII. Write derivatives of the following verbs.
- •XVIII. Act as an interpreter for s. And a.
- •XIX. Translate into English.
- •XX. Before reading and translating the text memorize the following words and
- •XXI. Text c The work of accountants
- •XXII. Find the equivalents.
- •XXIII. Fill in the blanks from the words below. Translate the sentences into Ukrainian.
- •XXIV. Text d What is auditing
- •I. Practise the pronunciation of the following words.
- •II. Before you read answer the following questions:
- •III. Read and memorize the words and word —combinations:
- •IV. Text а Management and Managers
- •VI. Match the word — combinations with their translations.
- •VII. Fill in the gaps according to the text principals.
- •VIII. Read and translate the following statements.
- •IX. Answer the following questions.
- •X. Translate into English.
- •XI. Make your own plan of the text.
- •XII. Text в Kinds of Managers
- •XIII. Complete the sentences according to the text.
- •XIV. Match the following terms with their definitions.
- •XV. Put the words in order and make the sentences.
- •XVI. Answer the following questions:
- •XVII. Text c Management Skills
- •XVIII. Translate the following words and word-combinations.
- •XX. Complete the following sentences according to the text.
- •XXI. Translate into English.
- •Unit IX
- •I. Practise the pronunciation of the following words.
- •II. Before you read answer the following questions.
- •III. Read and memorize the following words and word- combinations.
- •IV. Text а What is marketing
- •V. Give the English equivalents of the following.
- •VI. Match the following terms their definitions.
- •VII. Answer the following questions.
- •VIII. Use the following phrases to complete the conversation.
- •IX. Translate into English.
- •X. Text в Universal marketing functions
- •XI. Tick t (true) or f (false) sentences.
- •XII. Work out the table to show basic marketing functions.
- •XIII. Fill in the gaps with words from the list.
- •XIV. Find words in the text above which go with these definitions.
- •XV. Translate into Ukrainian in written form. Production Life Cycle
- •Can you give any example illustrating four stages of product life?
- •XVI. Text c
- •XVII. Answer the following questions.
- •XVIII . Explain, in your own words, the following terms.
- •XX. Think of the nouns that are commonly used with the following verbs.
- •XXI. Logically organize the following sentences to make up the text. The first sentence is given to you.
- •I. Practise the pronunciation of the following words.
- •II. Before you read the text answer the questions.
- •III. Read and memorize the words and word combinations.
- •IV. Text а Advertising
- •V. Read the statements and decide if they are true or false or if the statement gives information that is not provided in the text.
- •VI. Look at the words in the box below. Label each item: 1 - for advertising media, 2 - for method of advertising , 3- for verbs to do with advertising:
- •VII. Choose the most suitable word from the words in brackets to complete these sentences:
- •IX. Read, translate and learn by heart 10 phrases very often used in the
- •X. Read some catchphrases from advertising and identify which of the
- •XI. Translate into English.
- •XII. Complete the following sentences.
- •XII. Text b Consumer behaviour from the advertising perspective
- •XIII. Answer the following questions.
- •XIV. Study the following word-combinations. What are their Ukrainian equivalents?
- •XV. Translate the sentences into Ukrainian.
- •XVI. Text c Public relations
- •XVII. Read the following passage attentively. Fill in the gaps with the words:
- •XVIII. The key-words of the following text are the derivatives to the word
- •XIX. Make up the sentences. The first word of each sentence is given to you.
- •XX. Translate into Ukrainian in written form.
- •Part two
- •Texts for supplementary reading
- •The Field of International Business
- •Types of International Business
- •International Managers
- •Text 4 recruiting
- •Text 5 employee motivation
- •Text 6 case analysis
- •Text 7 problem solving
- •Text 8 meetings
- •During the meeting:
- •Text 10
- •International marketing
- •Text 11 cultural environment
- •Alternatives for international operations
- •Text 13 designing an international marketing program
- •Text 15 bretton woods
- •Text 16 how does a swiss bank account work?
- •Text 17 career opportunities in banking
- •Text 18
- •The role of banks in theory
- •Text 19
- •Text 20 Money Laundering
- •Types of loans made by banks
- •Text 22 careers in finance
- •Part three
- •I. Present Simple or Present Continuous
- •1. Choose the correct form of the verb.
- •II. Present Perfect
- •1. Put the verbs in brackets into Present Perfect.
- •3. Choose the correct form of the verb.
- •III. Present Perfect or Past Simple
- •1. Choose the correct form of the verb.
- •IV. Past Perfect
- •1. Make questions and negative sentences.
- •2 . Make sentences into Past Perfect using the following words.
- •3. Put the verbs in brackets into Past Perfect or Past Indefinite.
- •4. Link parts of the sentence using the words in brackets.
- •5. Put the verbs in brackets into Past Simple, Present Perfect or Past Perfect.
- •V. Future Perfect
- •VII. Past Perfect Continuous
- •1. Put the verbs in brackets into Past Perfect or Past Perfect Continuous.
- •2. Put the verbs in brackets into Present Perfect, Past Perfect, Present Perfect Continuous or Past Perfect Continuous.
- •VIII. Future Perfect Continuous
- •1. Put the verbs in brackets into Future Continuous or Future Perfect Continuous.
- •2. Put the verbs in brackets into Future Perfect or Future Perfect Continuous.
- •IX. Modal Verbs
- •1. Match halves of sentences using can.
- •If you you can
- •2. Put the words in order to make questions.
- •3. Make sentences with may or might using words in brackets.
- •4. Make questions using may, can or could.
- •5. Complete the sentences using must or have to (has to, had to, will have to).
- •6. Using have to, don’t have to, must not complete the sentences which are true
- •А) for your work:
- •Б) for your country:
- •7. Give recommendations or advice using should, shouldn’t or ought to with
- •8. Complete the sentences with appropriate modals.
- •1. Link together the halves and make sentences using Present Participle.
- •2. Rewrite the sentence using Past Participle.
- •3. Choose the appropriate form of the Participle.
- •XI. Gerund
- •1. Use Gerund with an appropriate proposition instead of the verb into brackets.
- •2. Fill the gaps with an appropriate form of the verb.
- •XII. Infinitive
- •2. Put the sentences into Present Perfect.
- •3. Rewrite the sentences using Objective Infinitive Complex.
- •4. Rewrite the sentences using Subjective Infinitive Complex.
- •XIII. Conditionals
- •1. Match the sentence halves 1-8 and a-h using Conditionals.
- •2. Make the sentence using Conditional I (What will you do?).
- •3. Imagine future situation using Conditional II (What would happen).
- •4. Put the verbs in the brackets into correct form using Conditional II.
- •5. Put the verbs in the brackets into correct form using Conditional III.
- •6. Choose the correct form of the verb.
- •XIV. Passive Voice
- •1. Link together appropriate parts of the sentence.
- •3. Put the verbs in brackets into the Simple or Continuous Passive.
- •4. Put the verbs in brackets into the Perfect Passive.
- •5. Rewrite these sentences in Passive.
- •XV. Reported Speech
- •1. Write the reported sentences.
- •2. Make the sentences using the following words.
- •3. Complete the reported sentences.
- •4. Make the reported questions.
- •5. Choose the correct form the verb.
- •Level а2
- •Test 1
- •Test 2
- •Test 4
- •Test 5
- •Test 6
- •Test 7
- •Test 8
- •Test 10
- •Test 11
- •Test 12
- •Test 13
- •Test 14
- •Test 15
- •Test 16
- •Test 17
- •Test 18
- •Test 19
- •Test 20
- •Part four
- •Successful writing
- •Techniques to begin your story
- •Techniques to end your story
- •Useful Vocabulary
- •English for future economists
Types of International Business
Merchandise exports are goods sent out of a country whereas merchandise imports are goods brought in. Since these are tangible goods that visibly leave and enter countries, they are sometimes referred to as visible exports and imports. The terms exports or imports are used frequently yet in reality the reference is only to the merchandise exports or imports.
Exporting and importing of goods are the major sources of international revenue and expenditure for most countries. Among companies engaged in some form of international business, more are involved in importing and exporting than in any other type of transaction.
Importing and/or exporting is usually but not always, the first type of foreign operations in which a firm gets involved. This is because at an early stage of international involvement these operations usually take the least commitment and least risk of a firm's resources Exporting or importing are not typically abandoned when firms adopt other international business forms. Although this may sometimes occur, exporting and importing usually continue, either by business with other markets or to complement the new types of business activities.
Service exports and imports refer to international earnings other than those from goods sent to another country. Receipt of these earnings is considered a service export, whereas payment is considered a service import. Services are also referred to as invisibles. International business comprises many different types of services.
Travel, tourism, and transportation. Earnings from transportation and from foreign travel can be an important source of revenue for international airlines, shipping companies, reservations agencies, and hotels. On a national level, such countries as Greece and Norway depend heavily on revenue collected from carrying foreign cargo on their ships. The Bahamas earns much more from foreign tourists than it earns from exporting merchandise.
Performance of activities abroad. Fees are payments for the performance of certain activities abroad, such services as banking, insurance, rentals (e.g., the Star Wars film), engineering, and management. Engineering services are often handled through turn-key operations, contracts for the construction of operating facilities that are transferred to the owner when the facilities are ready to begin operations. Fees for management services are often the result of management contracts, arrangements through which one firm provides management personnel to perform general or specialized management functions for another firm.
Use of assets from abroad. Royalties are the payment for use of assets from abroad, such as for trademarks, patents, copyrights, or other expertise under contracts known as licensing agreements. Royalties are also paid for franchising, a way of doing business in which one party (the franchisor) sells an independent party (the franchisee) the use of a trademark that is an essential asset for the franchisee's business. In addition, the franchisor assists on a continuing basis in the operation of the business, such as by providing components, managerial services, or technology.
Firms often move to foreign licensing or franchising after successfully building exports to a market. This move usually involves a greater international commitment than in the early stages of exporting. The greater involvement occurs because the firm commonly has to send technicians to the foreign country to assist the licensee or franchisee in establishing and adapting its production facilities for the new product.
Direct investments. Direct investment takes place when control follows the investment. This can amount to a small percentage of the equity of the company being acquired, perhaps even as little as 10 percent. The ownership of a controlling interest in a foreign operation is the highest type of commitment to foreign operations in the given country. Direct investment operations may be set up in order to gain access to certain resources or access to a market for the firm’s product.
When two or more organizations share in the ownership of a direct investment, the operation is known as a joint venture. In a special type of joint venture, a mixed venture, a government is in partnership with a private company.
The multinational enterprise, or MNE, has a worldwide approach to foreign markets and production and an integrated global philosophy encompassing both domestic and overseas operations. The term multinational corporation, or MNC, is also quite common in the literature of international business. Another term sometimes used interchangeably with MNE, especially by the United Nations, is transnational corporation, or TNC.
TEXT 3