С О Д Е Р Ж А Н И Е

1^st Y E A R 4

PART ONE 4

Section I. TEXTS 4

Section II. WORD-BUILDING 15

Section III 34

PART TWO 49

TESTS 49

2^nd Y E A R 90

PART ONE 90

Section I. TEXTS 90

Section II. VOCABULARY 1 126

Section III. VOCABULARY 2. PHRASAL VERBS 140

PART TWO 147

TESTS 147

СПИСОК ИСПОЛЬЗОВАННОЙ ЛИТЕРАТУРЫ 197

1^st Y E A R

PART ONE

Section I. TEXTS

Use the words above the texts to complete the texts.

Text 1 board of directors board senior executives chief executive officer managing director company secretary chair

People at the head of an organization are ___ 1 ___ or senior managers. The ____ 2 ____ is the person who has overall responsibility for the day-to-day running of an organization. In the case of a limited company the CEO is normally the ____ 3 ____ , appointed by the ____ 4 ____ on the authority of its members. The same person is usually the ____ 5 ____ of meetings of the ____ 6 ____, i.e. the people who are legally responsible for a company. The person responsible for keeping the minutes of board meetings is the ____ 7 ____.

Text 2

Investment stock exchange go public investors invest

Some companies are publicly owned. The shares of public limited companies are tradeable on a ____ 1 ____. Shareholders or ____ 2 ____ buy the company’s shares and are the owners of the company. Other companies are privately owned, and there is no open market for their shares. This can be a problem when they need to raise finance, and for that reason they may choose to ____ 3 ____ or to make their shares available on the Stock exchange. Shareholders ____ 4 ____ their money in the stock market in the hope that their ____ 5 ____ will pay a good dividend or, in other words, that they will make a good profit.

Text 3

cost pricing strategies market price price-sensitive (x2)

discounting list price

Price is part of the marketing mix, and all businesses must decide how to price their products or services. This can be quite difficult, as consumers are heavily influenced by the ____ 1 ____ of something. A product may have a published ____ 2 ____ but this price may rarely be charged because of ____ 3 ____ by sellers. When a price has been “decided” by the market, it is known as the ____ 4 ____. The market for a particular product can be easily affected by changes in price, in which case it is ____ 5 ____, and consumers, too, if they are very aware of prices are also ____ 6 ____. If the company is able to set its own price there are several ____ 7 ____ or policies that it can choose.

Text 4

distribution network end users wholesalers factory shops distribution warehouse distributor agent

____ 1 ____ is concerned with getting a product to the customers (or, for technical products, ____ 2 ____). The ____ 3 ____ makes the product available to the customers through various retail outlets. Products may be distributed directly to retailers, or through a ____ 4 ____ to ____ 5 ____ who store the goods in a ____ 6 ____. The wholesalers then forward the products to the retailers or retail outlets. Some businesses use an ____ 7 ____ to bring buyers and sellers together, who works on a commission basis. Some products may be sold directly to the consumer. One British shoe shop, for example, has several ____8 ____ where goods are sold direct to the public.

Text 5

product range product portfolio global brands brands product mix brand product differentiation

The combination of products that a business sells is known as the ____ 1 ____. The American multinational McCann and Muir, for example, have pharmaceuticals, fragrances, consumer products, cleaning products and beauty care products in their ____ 2 ____. Their cleaning products include a ____ 3 ____ of soap powders including ____ 4 ____ such as Brash, Saturn and Brill. A ____ 5 ____ is a product which customers see as different from other similar ones available. McCann and Muir knows that different products satisfy different needs, and that’s why ____ 6 ____ is important. Their customers may choose Brill because it’s advertised as offering high quality at an affordable price, or Brash because it combines detergent and conditioner for convenience, for example. Many of their ____ 7 ____ are sold around the world, others are aligned to meet the needs of specific markets.

Text 6

free trade protectionism tariffs customs duties quotas imports exports exchange rates

The WTO was set up in 1995 to encourage free trade in the global marketplace. It is therefore designed to resist ____ 1 ____. No new barriers to trade can be set up, and governments cannot set new ____ 2 ____ or ____ 3 ____ or increase ones that already exist as these are really taxes that prevent ____ 4 ____. Similarly the WTO opposes the use of ____ 5 ____ since these limit the amount of ____ 6 ____ coming into a country. This may protect a country’s industry in the short term, but its trading partners reply with similar measures, then ____ 7 ____ will suffer. The WTO governs trade in many products and raw materials, but the world of finance is largely outside of its scope, therefore it has no control over ____ 8 ____.