III. Agree or disagree with the statements:

1. All products and services have prices.

2. A price depends on two factors: credit terms and delivery.

3. Prices were set by sellers and banks.

4. Through deal- making process sellers and buyers settled a reasonable price.

5. The necessity of setting one price for all buyers arose with the development of large- scale retailing at the end of the 19^th century.

6. Companies handle pricing in a variety of ways.

7. Prices play an important role in all economic markets.

8. In industries where pricing is a key factor, companies often establish a pricing department to set prices or assist others in determining appropriate prices.

9. Prices are fixed in most economic systems.

10. Sales managers, production managers, finance managers and accountants influence the pricing.

IV. Answer the questions:

1. Which factors does a price depend on?

2. How were prices set long ago?

3. Why did the necessity of setting one price for all buyers arise?

4. How do companies handle pricing?

5. What role do prices play in all economic markets?

V. Match the first part of the sentence (1-5) with the second one (a-e).

1	In small companies prices are often set by top management	a	with the development of large-scale retailing.
2	Companies handle pricing	b	for example, credit terms, delivery, trade-in-allowance, quality etc.
3	The necessity of setting one price for all buyers arose	c	in a variety of ways.
4	Prices were set by buyers and sellers	d	rather than by the marketing or sales department.
5	A price depends on different factors,	e	communicating with each other.

VI. Make up a plan of the text.

VII. Retell the text in a written form (in English or Ukrainian). Text 78. Taxes in ukraine

I. Read and memorize the following words and word combinations:

Obligatory payment – обов’язковий платіж, payment/fee – плата, to impose a tax – обкладати податком, direct/indirect tax – прямий/непрямий податок, customs duty – митний збір, property tax – податок на власність, excise tax – акцизний збір, income tax – податок на прибуток, value added tax (VAT) – податок на додану вартість.

II. Listen to the text: Taxes in Ukraine

There are different terms for obligatory payments to the state, among them “tax”, “duty”, “payment”, “fee”. A “tax” is a compulsory charge imposed upon persons and businesses for public purposes. Many persons today pay from 25 to 50 percent of their incomes in direct or indirect taxes. “Duty” means payment for import, export, manufacture or sale of goods, customs duties, for transfer of property or for legal recognition of documents. “Fee” is known as a payment for the services of a professional man (for example, a lawyer) or a public body. “Payment” is a paying for work, services or goods bought (payment for land, payment for special use of mineral resources).

In general, there are two kinds of taxes, direct and indirect. The property taxes are direct, as are also income taxes and inheritance taxes. A direct tax is one that cannot be shifted from the person upon whom it is levied to somebody else; it’s a charge on a person’s income or property. An indirect tax is one that may be shifted from the person upon whom it is levied; it’s a charge on the price of goods sold. The excise tax on wines, spirits, and cigarettes is a "hidden" or indirect tax.

The income tax is a direct tax. It is progressive in character, which means that the rate is higher on the higher incomes. It is also an elastic tax. The rates can be quickly changed if the government needs more money. Excise duty is levied on certain consumer goods: petrol and other minerals oils, tobacco products, cars, furs, certain food products, alcohol and alcoholic beverages. Like VAT excise duty is included in the price paid by consumers for these goods. Income tax is a tax on the annual income of individuals, which is at a progressive rate. Import duty is levied on imported goods. Various rates are used: for minerals or raw materials the rates are usually low, but they are higher for finished products. Value added tax is a general consumer tax included in the price paid by consumers for goods and services.