- •1 Structure of a business letter
- •1 This is how a business school teacher is explaining the parts of a business letter to a student:
- •2 Now read the letter and name its elements:
- •Grammar: The Sequence of Tenses – Узгодження часів
- •2 Writing a business e-mail
- •1 Why do people use e-mail in business? Make a list of reasons.
- •2 Read some 'rules' for writing good business e-mails. Which rules do you follow?
- •3 Read the e-mail below from a student to a company about their work experience programme. Which rules in ex 2 does he break?
- •4 Look al the phrases in italics (1-6) in the e-mail. Match them with the formal phrases (a-f) below:
- •5 Here are some phrases to use in e-mails. Write starting (s), ending (e), saying why you are writing (w) or requesting (r) after each one and the ones in ex 4:
- •6 Rewrite Luigi’s e-mail using the rules in ex 2 and some of the phrases in ex 5. Grammar: Reported Speech (statements) – Непряма мова (стверджувальні речення)
- •3 Doing Business on the Internet
- •1 Match words that have a similar meaning:
- •Grammar: Reported Questions, Requests, Orders – Непрямі питання, прохання, накази
- •4 Business across Cultures
- •1 Match words that have a similar meaning:
- •2 Match the words and phrases in the box with the correct definition:
- •5 Put these statements about customs and culture into the correct order. Translate the sentences:
- •Grammar: First Conditional – Умовні речення і типу
- •5 What is Economics About?
- •1 Read the following words and try to guess their meaning. Mind the stress!
- •2 Match English and Ukrainian equivalents:
- •3 Choose the correct word:
- •4 Complete the sentences:
- •Grammar Second Conditional – Умовні речення іі типу
- •6 Products, Goods and Services
- •1 Match words that have a similar meaning:
- •3 Match the words and phrases in the box with the correct definition:
- •Grammar: Third Conditional – Умовні речення ііі типу
- •7 Markets
- •I. Give English equivalents of the following:
- •III. Answer the questions:
- •IV. Translate into English:
- •Grammar: Modals – Модальні дієслова (1) Ability (здатність, спроможність): can, could, be able to
- •Permission (дозвіл): can, could, may, be allowed to
- •8 Export and Import
- •1 Match words that have a similar meaning:
- •4 Fill in the missing prepositions: (of (2), in, at (2), by (3), on (2), for, through, to)
- •5 Translate into English:
- •Grammar: Modals – Модальні дієслова (2)
- •9 Money and its functions
- •1 Match words that have a similar meaning:
- •2 Translate the sentences into Ukrainian. Define the part of speech of the underlined words:
- •3 The words in the box frequently occur before "money". Find combinations that mean:
- •4 Match the words and phrases in the box with the correct definition:
- •Grammar: Modals with the Perfect Infinitive – Модальні дієслова з перфектним інфінітивом
- •10 Aggregate supply
- •I. Find equivalents:
- •II. Match the synonyms:
- •III. Fill in the blanks with prepositions or adverbs if necessary:
- •IV. Match the terms with their definitions:
- •V. Define which of the following items best completes the statement:
- •VI. Complete the following sentences:
- •VIII. Translate into English:
- •Grammar: The Infinitive – Інфінітив
- •11 Aggregate demand
- •I. Match the antonyms:
- •V. Complete the following sentences:
- •VI. Translate into English:
- •VII. Replace the Ukrainian words and phrases by their English equivalents in the correct form:
- •Grammar: The Gerund – Герундій
- •(12) Grammar: The Participle – Дієприкметник
7 Markets
tangible - відчутний на дотик; матеріальний to satisfy desires - задовольнити потреби intangible - невідчутний на дотик; нематеріальний goods, commodity - товар service - послуга to adjust - відрегулювати |
demander — споживач supplier — постачальник market allocation — місце на ринку excess supply — перевищення пропозиції to decrease — знижуватися, зменшуватися to eliminate — ліквідувати, знищувати |
A market is a set of transactions in which a particular kind of commodity is exchanged, and in which the transactions for this commodity among different individuals and firms are related.
Product markets are divided into two classes: goods and services. A good is something tangible that is produced, and consumed. For example, when you buy an automobile, you are purchasing a good. A service is something intangible that is produced and consumed. When you have someone adjust a carburettor, you are purchasing a service.
Resources are things used to produce goods, services and capital. People come to a market because they want to buy (demanders) or to sell (suppliers). The interaction of demanders and suppliers determines a market price and a market allocation of a particular commodity.
Demand is all combinations of relative price and the quantity of a particular commodity that individuals or firms (demanders) want to purchase in a market.
Excess supply occurs when, at a particular market price, the quantity that suppliers want to provide to the market exceeds the quantity that demanders want to purchase. And excess demand occurs when this quantity is less than the quantity that demanders want to purchase. In an open or free market, the relative price for a commodity will generally decrease when there is excess supply and increase when there is excess demand. Excess demand will be eliminated if the relative price is free to increase.
A market is equilibrium when the quantity that suppliers want to provide to the market at a specific market price is exactly equal to the quantity that demanders want to purchase in the market at the same market price. The importance of equilibrium is that the equilibrium relative price is the only price at which the interests of demanders and suppliers coincide.
I. Give English equivalents of the following:
взаємодія споживачів і постачальників; надмірна(ий) пропозиція/попит; виробляти товари та надавати послуги; розміщення ринку; набір угод; набір стимулів; перерозміщувати товари; задовольняти потреби; значення рівноваги; купувати товар; поділятися на класи; впливати на ринок
II. Fill in the gaps with: excess demand; are divided into; purchasing a service; the importance of equilibrium; the interaction of demanders and suppliers; excess supply; decreases; increases
1. Product markets ... two classes: goods and services. 2. When you have someone adjust a carburettor, you are... . 3. ... determines a market price and a market allocation of a particular commodity. 4. ... occurs when, at a particular market price, the quantity that suppliers want to provide to the market exceeds the quantity that demanders want to purchase. 5. ... occurs when, at a particular market price, the quantity that suppliers want to provide to the market is less than the quantity that demanders want to purchase. 6. When there is excess demand, the relative price ... and when there is excess supply the relative price ... . 7. ... is that the equilibrium relative price is the only price at which the interests of demanders and suppliers coincide.