Контрольні питання
* Другий рівень – середній. Знати слова та словосполучення з теми та вміти використовувати в реченнях; знати основні поняття та правила.
** Третій рівень – достатній. Знати основні визначення, поняття та правила. Вміти використовувати їх в зв’язному мовленні. Відповідати на питання.
*** Четвертий рівень – високий. Визначати проблемні питання. Вміти логічно та вільно висловлюватися в межах вивчених тем.
Lesson 2.
Supply and Demand. The Use of Participle.
*Task I. Learn the new vocabulary:
Transaction – угода, справа, ведення справи
Cost – вартість, витрати
Price – ціна
Buying intentions – намір придбати
Determinants – фактори, що визначають
Expectations – очікування
Impose – оподатковувати
Taxes on income – податки на прибуток
To be willing to do smth – бажати виконувати якусь дію
To be influenced by – мати вплив
То be worth – бути вартим
Task II. Suggest the Ukrainian equivalents for the following:
Market transaction, supply and demand, to supply resources to the market, to look for a job, goods and services, to demand goods, to supply goods and services, to be willing to buy certain goods, expression of consumer’s buying intentions, statement of actual purchases, respective tastes, desire for goods, collective behavior, to be influenced by, to impose taxes on income, to earn income, to be worth the hassle, to withdraw the goods from the market
Task III. Make up sentences using the construction like this:
The + comparative … the +comparative
e. g. the sooner the better
much money to invest – a high return
The more money to invest, the higher the return you can expect.
to produce goods and services – to enjoy a high standard of living
wide advertising – high sales
high prices – for some goods – low sales
a great demand – high prices – much profit
the severe inflation – the rise in the general price level – the fall in the purchasing power
hard work – much money receive
**Task IV . Read and translate the text:
Supply and Demand
Activities involved in getting goods from the producer to the consumer are called Marketing. The producer is responsible for the design and manufacture of goods. In large corporations the marketing operations precede the manufacture of a product. They involve market research and product development, design and testing. Marketing concentrates primarily on the buyers, or consumers, determining their needs and desires.
The two sides of each market transaction are called supply and demand. We are supplying resources to the market when we look for a job — that is, when we offer our labor in exchange for income. But we are demanding goods when we shop in a supermarket — that is, when we are prepared to offer money in exchange for something to eat. Business firms may supply goods and services in product markets at the same time that they are demanding factors of production in factor market.
A demand exists only if someone is willing and able to pay for the good - that is, exchange money for a good or service in the marketplace.
Demand is an expression of consumer buying intentions, of a willingness to buy, not a statement of actual purchases. The market demand is determined by the number of potential buyers and their respective tastes, incomes, other goods, and expectations. A consumer's willingness and ability to buy a product at various prices depend on a variety of forces. The determinants of demand include tastes (desire for this and other goods), income (of the consumer), other goods (their availability and price), expectations (for income, prices, tastes). The law of demand says that the quantity of a good demanded in a given time period increases as its price falls.
The market supply of a good reflects the collective behavior of all firms that are willing and able to sell that good at various prices. The determinants of market supply include technology, factor costs, other goods, taxes, and expectations, number of sellers. In the real world, the decision to supply goods and services is also influenced by the long arm of the state. Federal, state, and local governments impose taxes on income earned in the marketplace. When tax rates are high, people get to keep less of the income they earn. Some people may conclude that some goods are no longer worth the hassle and withdraw from the market. Expectations are also important on the supply side of the market.
Task V. Give the English equivalents to the following word – combinations:
Рівень податків, оподатковувати доход, постачати товари на ринок, купівельні наміри споживача, заробляти гроші, платити за товар, закон попиту, пропонувати гроші в обмін на товар, обмінювати гроші на товари та послуги, зважаючи на смаки, бажання купити, залежати від доходу, виводити товари з ринку, залежати від ціни, продавати товар за різними цінами залежати від великої кількості чинників
** Task VI. Answer the questions on the text.
What are the sides of market transaction?
What is demand?
What is demand determined by?
What do the determinants of demand include?
What does the law of demand say?
What is the market demand determined by?
What does the market of supply reflect?
What are the determinants of supply?
***Task VII. Explain the given below schemes. Mind the economics abbreviation. Solve the following tasks.
Task one.
The 4 % increase in prices for foods made the consumer to reduce the consumption in 2 %. Define the rate of demand elasticity according to the price. Give the characteristic of demand.
The further 3 % increase in prices caused the 8 % decrease the amount of demand.
Define the new rate of elasticity, give the characteristic of consumer’s demand.
Task two.
The increase in consumer’s income from 400 hr to 550 hr caused the increase in demand for the certain group of goods from 70 hr to 350 hr. Define the demand elasticity according to the income. Characterize the category these goods belong to.
Task three.
As the family income increase from 470 hr to 550 hr in a month the family demand for the certain group of goods decreased from 200 hrs to 75 hrs in a month.
Define the elasticity rate of demand according to the income. Live the characteristic of these goods.
Task four
The shop has 2 grades of balls on sale. They are A grade and B grade. A – grade ball costs 2 hr, B – grade ball costs 4 hr.
Show the graph of productive capacity of the shop, if the total price of ball is 120 hr.
After the A – grade balls were sold, their price increased to 4 hr. How will the productive capacity graph change?
**Task VIII. Shorten the following sentences without changing their meaning, like this:
Nobody likes prices, which are constantly rising.
Nobody likes constantly rising prices.
* A demand curve, which slopes.
* John is a person who works very hard.
* We must develop a policy, which fixes prices better.
* Interest rates, which rise will damp down demand.
* An economy, which is rapidly expanding can get out of control.
* Let's look at the information, which corresponds to this in tabular form.
The quantity, which we require is 5000 units.
The required quantity is 5000 units.
* A demand curve, which has been drawn inaccurately.
* A price, which has been fixed.
* We can see changes in the price of goods, which are related to each
other.
* Ours is a company, which is managed well.
* An economy, which is poorly run leads to problems in society.
* That is a theory, which is now out of date.
* On the evidence available, that is a conclusion, which is not justified.