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V. Translate the following terms into English:

1. законное платежное средство

2. дорожный чек

3. коммерческий банк

4. выплатить по чеку

5. финансовый агент правительства

6. выпускать банкноты

7. льготный заем

8. заемщик

9. закладная на имущество

10. ссудный процент

Test 7 (Market Research, Marketing, Consumer Choice)

I. Match the terms with their definitions:

1. Market research

A. relates quantity demanded of one good to its own price

2. Secondary data

B. the process of gaining information about customers, competitors and market trends through collecting primary and secondary data

3. Engel curve

C. maps quantity demanded of one good against changes in income

4. Objects of consumer

D. finding out information from secondary data choice

5. Desk research

E. information which already exists

6. Consumer tastes

F. goods and services, yielding utility which can be ordered and measured

7. Field research

G. the process of collecting primary data

8. Demand curve

H. can be represented by a map of non-intersecting indifference curves

9. Marketing

I. the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.

II. Put the words in the correct order:

1. Prefers, since, the, more, consumer, to, indifference, less, must, downwards, curves, slope.

2. Sale, in, every, a, random, respondent, an, potential, has, of, chance, chosen, equal, being.

3. Reflect, curves, the, indifference, of, principle, a, marginal, diminishing, of, substitution, rate.

4. Can, information, business, which, collect, is, from, sources, available, the, outside, business.

5. Are, goods, if, the, quantity, normal, will, demanded, increase.

6. May, data, collected, primary, be, observation, survey, through, experiment, and.

III. Fill in the gaps with the words or word combinations in italics:

Substitute, accounts, tastes of preferences, equilibrium, budget constraint, primary data, observation, marketing, force, market research

1. The way in which the consumer ranks the alternatives available is called the consumer’s … .

2. The consumer’s … shows how the upper limit on consumption may be allocated among consumption patterns or goods at given prices.

3. Marketing is a … within the organization that encourages socially and ethically responsible behaviour in the market place.

4. There is little universal agreement on the best or right definition of … .

5. Finding out about what consumers want and need, and what makes them buy, is called … .

6. …will give information about the value of sales and costs of production.

7. …are collected through direct investigation.

8. In a two-good world, a good whose quantity purchased moves together with the changes in the price of the other good is called … .

9. Maximizing consumer utility generates an … where the budget constraint and the highest possible indifference curve are tangential.

10. …can’t tell the supermarket anything about why shoppers are behaving in this or that way.

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