Cross-cultural Barriers to Business Communication

7. “The gap in our economy is between what we have and what we think we ought to have – and that is a moral problem, not an economic one.” (Paul Heyne)

8. “Economy is the method by which we prepare today to afford the improvements of tomorrow.” (Calvin Coolidge)

9. “Economics has never been a science – and it is even less now than a few years ago.” (Paul A. Samuelson)

10. “Economics is a subject that does not greatly respect one’s wishes.” (Nikita Khrushchev)

11. “People want economy and they will pay any price to get it.” (Lee Iacocca)

12. “Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.” (Lionel Charles Robbins)

13. “In economics, the majority is always wrong.”(John Kenneth Galbraith)

14. “Henry Ford was right. A prosperous economy requires that workers be able to buy the products that they produce. This is as true in a global economy as a national one.”(John J. Sweeney)

15. “It’s called political economy because it is has nothing to do with either politics or economy.” (Stephen Leacock)

16. “I am not an economist. I am an honest man!” (Paul McCracken)

Lesson 2

Task 1. a)Differentiate between the following words.

b)Explain the usage of the above adjectives in the following sentences.

1.Economic means “concerning economics”. 2.Economical is commonly used to mean “thrifty, avoiding waste”. 3.He’s rebuilding a solid economic base for the country’s future. 4.Small cars should be inexpensive to buy and economical to run. 5.The government’s economic policy is aimed at developing entrepreneurial culture. 6.It’s more economical to go by bus. 7.Many organizations must become larger if they are to remain economic. 8.The book gives some valuable ideas for economical housekeeping. 9.Though unpopular among citizens, Poland’s radical economic reforms achieved their goal.          10.Economical use of time may make you more productive. 11.The pace of economic growth is picking up. 12.She is a very economical cook. 13.Critics say that the new system may be more economic but will lead to a decline in programme quality. 14.Experts try to predict economic and social consequences of the forthcoming elections. 15.Economy goods are available in very large quantities at economical costs. 16.They gave up a large house for economic reasons. 17.If you don’t like to spend money unnecessarily, you may simply be economical, which means that you manage your finances wisely and avoid any unnecessary expenses. 18.Exports account for two-thirds of our economic activity. 19.We are looking for the most economical production methods. 20.He blamed the drop in sales on the global economic crisis.

Task 2. a)The words below often occur after “ECONOMIC”.

b)Which of the above word-combinations means:

1. Економічне диво;

2. економічний простір;

3. економічна грамотність;

4. економічна відсталість; економічне відставання;

5. економічна самостійність; економічне самозабезпечення;

6. економічний покупець, раціональний покупець (такий, що звертає увагу на ціну, якість, розмаїття товарів і простоту прийняття рішень щодо покупки);

7. господарник, хазяйський (дбайливий) керівник (керівник, який здійснює політику економічно ефективного управління, тобто досягнення максимально високих результатів при мінімальних ресурсних затратах);

8. економічний мігрант (той, хто переїжджає з однієї країни чи місцевості до іншої, аби покращити власний рівень життя); “ковбасний емігрант” (термін, який у колишньому Радянському Союзі вживався щодо емігрантів, які залишали країну не з політичних міркувань, а радше будучи невдоволеними власним рівнем життя через тотальний дефіцит, зокрема й продуктів харчування)?

с)Make up sentences with the above word combinations.

Task 3.Study the etymology of the word “ECONOMY”.

Task 4. a)The words below often occur with “ECONOMY”.

b)Which of the above word-combinations means:

1. (used especially in newspapers) a country whose economy is growing very fast;

2. a period when you try to spend less money than usual; an organized effort to reduce costs and avoid wasting money;

3. a temporary situation when businesses grow very fast, the prices of shares and homes, etc. rise and employment increases;

4. business activity or work that is done without the knowledge of the government or other officials so that people can avoid paying tax on the money they earn;

5. goods that are cheaper than normal goods usually because you are buying larger quantities;

6. most powerful countries of the West;

7. something that seems to save money but will really make you spend more;

8. the cheapest seats on a plane; the cheapest class of air travel; the part of a plane where people with the cheapest tickets sit?

c)In the sentences below find the English equivalents of the following terms:

· псевдо економія;

· тіньова економіка;

· товари за зниженою ціною;

· економ-клас, туристичний клас;

· західна держава; західна економіка;

· спекулятивна економіка (“економічна булька”);

· кампанія за економію; боротьба за режим економії;

· економіка країн, які динамічно розвиваються; економіка країн-“тигрів” (таких як Сінгапур, Тайвань чи Південна Корея).

1. I always fly economy class.

2. They’re on an economy drive.

3. We were in a bubble economy.

4. Buying cheap tools is false economy.

5. Fares start from €597 for economy class.

6. Singapore’s tiger economy is still expanding steadily.

7. Economy goods are commonly sold through the Internet.

8. Experts believe the black economy is 40% the size of the official economy.

9. There are a lot of opinions about why the Western economy has flourished.

10. The central bank failed to put up interest rates and a bubble economy developed.

Task 5. a)Differentiate between the following word combinations.

Task 6. a)Make up words using the productive word-building flexions (Table A) and the stems (Table B).

Table A

Table B

b) Learn some other word-building patterns.

Task 7. Match items in column A with their antonyms in column B.

Task 8.Open the brackets using the right word.

1. The Great Depression was a worldwide economic (downturn / upswing) starting in most places in 1929 and ending at different times in the 1930s or early 1940s for different countries.

2. The economic crisis of 1929-1933 was the largest and most severe economic (boom / depression) in the 20^th century.

3. The Great Depression originated in the United States; historians most often attribute the start to the stock market (crash / take-off) of October 29, 1929, known as Black Tuesday.

4. The (development / depression) had devastating effects in virtually every country, rich and poor.

5. In the 19^th and early 20^th centuries, many financial crises were associated with banking panics, and many (recessions / advancements) coincided with these panics.

6. The late-2000s (development / recession) has changed to a sharp drop in international trade, rising unemployment and slumping commodity prices.

7. The United States is in an economic (strength / crisis) that may already be the worst since the Great Depression.

8. One thing seems clear: the recent period of unparalleled economic (growth / oppression) and prosperity has come to an abrupt end in most of the world.

Task 9. a)What happens to an economy? Distribute the following word combinations into three groups according to their meaning:

A.Positive state of the economy – growth and progress;

B.Negative state of the economy – crisis and stagnation;

C.Recovery of the economy after a period of stagnation.

b)Match the terms in column Awith the respective Ukrainian equivalents in column B.

Task 10.Characterize the current state of Ukraine’s economy using appropriate terms from Task 9. Give your reasons.

Task 11.Read and translate the passage.

An economic indicator (or business indicator) is a statistic about the economy. Economic indicators allow analysis of economic performance and predictions of future performance.

Economic indicators include various indices, earnings reports, and economic summaries, such as unemployment, housing starts, Consumer Price Index (a measure for inflation), industrial production, bankruptcies, Gross Domestic Product, retail sales, stock market prices, and money supply changes. Economic indicators are primarily studied in a branch of macroeconomics called “business cycles”.

An economic boom occurs when real GDP grows faster than the trend rate of economic growth (in the UK, the trend rate is around 2.5% per year).

Vocabulary Notes:

1. Economic performance – економічний показник; економічний результат;

2. earnings report – рахунок прибутків та збитків (компанії);

3. housing start – початок будівництва житлового будинку;

4. Consumer Price Index – індекс споживчих цін; індекс цін на споживчі товари;

5. Gross Domestic Product – валовий внутрішній продукт;

6. stock market price – курс цінних паперів на фондовому ринку;

7. money supply – грошова маса.

Task 12. a) Match the terms in column A with their definitions in column B:

b) Translate into Ukrainian:

1. Tourism contributes about 5% of GDP.

2. GDP grew by 0.5 per cent in the fourth quarter.

3. Today farming produces only about 2-4% of GNP.

4. The economy is now officially in recession.

5. The manufacturing sector is recovering slowly from last year’s recession.

6. The economic boom was fuelled by easy credit.

7. The consumer price index rose 0.3 per cent in May.

Task 13.Think and answer.

1. When does an economic boom occur?

2. What can cause an economic downturn?

3. What makes economies fall into stagnation?

4. Whose responsibility is it to shake the country out of stagnation?

5. What is to be done in this country to do away with its economic lag?

Task 14. a)Make the difference between the following words.

b)Make up sentences with the above words.

Task 15. Practice reading the following words.

Task 16. Read the text.

Economy

It is generally accepted that people worry about love, the weather, and the economy. Actually, not necessarily in that order.

In the 21^st century the economy is the foremost concern for most of us. Government deficits, taxes, unemployment, and rising prices are consistently at the top of our collective list of worries.

Interest in the workings of the economy intensifies when we have some immediate stake in its performance. The loss of a job, for example, can rivet one’s attention on the causes of unemployment. A tuition increase may start you thinking about the nature and causes of inflation. And high rents can start you thinking about the demand for housing in relation to its supply.

For many people, of course, concern for the economy goes no further than the price of tuition or the fear of losing a job. Many others, however, are becoming increasingly aware that their job prospects and the prices they pay are somehow related to national trends in prices, unemployment, and economic growth.

Despite the widespread concern for the economy, few people really understand how it works.

In seeking to figure out how the economy works, it is useful to start with a simple truth – namely, that the economy is us. “The economy” is simply an abstraction that refers to the sum of all our individual production and consumption activities. What we collectively produce is what the economy produces; what we collectively consume is what the economy consumes. In this sense, the concept of “the economy” is no more difficult than the concept of “the family.”

Thus, the economy is very much a part of our everyday lives. Hence, to understand it is to understand our own economic behaviour, both individually and collectively.

We spend much of our lives working to produce the goods and services that flow from our factories and offices. We spend a good part of the remaining time consuming those same goods and services. And during much of the time left over, we worry about what to produce or consume next. Even such simple things as reading books, going to school, and lying on the beach can be described as economic activities.

Economy is often defined as the relationship between production, trade and the supply of money in a particular country or region.

In more basic terms, an economy is a mechanism that allocates scarce resources among competing users.

This mechanism achieves three things:

· What (What goods and services will be produced and in what quantities?)

· How (How will the various goods and services be produced?)

· For whom (For whom will the various goods and services be produced?)

The way a society answers these basic questions is known as its economic system. Economic systems may be classified as traditional, command, or market systems. As the names suggest, resources are allocated (distributed) in a traditional economy according to tradition and in a command economy by government planners. Resources in a market economy are allocated according to the laws of supply and demand.

In many modern economies the what, how, and for whom choices are made by households, firms, and government, and they are coordinated through markets. Governments influence these choices by taxing, subsidizing, regulating, and lawmaking. In recognition of the role played both by command and market coordination mechanisms, these economies are referred as mixed economies.

Thus, a mixed economy is one that uses both market and command mechanisms to coordinate economic activity.

Economic systems can also be classified as closed and open.

A closed economy is one that has no links with any other economy. The only truly closed economy is that of the entire world.

An open economy is one that has economic links with other economies. Firms in an open economy export some of their production to other countries, rather than selling only to households within their own country.

Vocabulary Notes:

1. generally accepted [`Gen<sup>ə</sup>rəli ək`septıd] – загальноприйнятий; звичний; традиційний;

2. not necessarily [ֽnesə`serəli] – не обов’язково;

3. foremost [`fO:məust] / [`fO:rmoust] – найголовніший;

4. concern [kən`sə:n] – турбота; хвилювання; занепокоєння;

5. government deficits [`gAv<sup>ə</sup>nmənt] / [`gAv^ərnmənt] – дефіцит державного бюджету;

6. taxes [`tæksız] – (державні) податки; мито;

7. unemployment [ֽAnım`plOımənt] – безробіття;

8. rising prices [`raızıŋ `praısız] – зростаючі ціни;

9. consistently [kən`sıstəntli] – послідовно; повсякчас;

10. at the top (of) [tOp] / [tα:p] – на першому місці;

11. collective list [kə`lektıv] – спільний перелік; колективний список;

12. workings (of the economy) [`wə:kıŋz] – функціонування; робота;

13. to intensify [ın`ten^tsıfaı] – посилюватися; ставати більш інтенсивним, напруженим;

14. immediate [ı`mi:diət] – безпосередній; поточний; такий, що відбувається зараз;

15. stake [steık] – зацікавленість; участь; частка; відсоток (у якомусь підприємстві);

16. performance [pə`fO:mən<sup>t</sup>s] / [p<sup>ə</sup>r`fO:rmən^ts] – функціонування; показник (результат) діяльності;

17. loss of a job [lOs] / [lO:s] – втрата роботи;

18. to rivet [`rıvıt] / [`rıvət] – зосереджувати, привертати (погляд, увагу);

19. cause [kO:z] – причина; підстава; привід, мотив;

20. tuition [tju`ı∫<sup>ə</sup>n] / [tu`ı∫^ən] – навчання; плата за навчання;

21. increase [`ıŋkri:s] – зростання, ріст; приріст; збільшення;

22. to start (smb. thinking) [stα:t] / [stα:rt] – змушувати (когось думати);

23. high rents [haı rents] – висока рента;

24. demand (for) [dı`mα:nd] / [dı`mænd] – попит (на); вимога; запит; потреба;

25. housing [`hauzıŋ] – житло; житлові умови;

26. in relation (to) [rı`leı∫^ən] – відносно; стосовно; по відношенню (до);

27. supply [sə`plaı] – пропозиція; постачання; поставка;

28. to go no further (than) [`fə:ðə] – не йти далі (ніж); не перевищувати;

29. to become aware [ə`weə] – усвідомлювати; розуміти; сприймати;

30. increasingly [ıŋ`kri:sıŋli] – все більше й більше; у більшій мірі; у зростаючій кількості;

31. job prospects [`GOb `prOspekts] – перспективи на отримання роботи;

32. somehow related (to) [`sAmhau rı`leıtıd] – так чи інакше (у той чи інший спосіб) пов’язаний (з);

33. national trend [`næ∫^ənəl] – національна тенденція (курс; напрямок);

34. despite smth. [dı`spaıt] – незважаючи на;

35. widespread concern (for) [`waıdspred kən`sə:n] – широко розповсюджена (масова) стурбованість (заклопотаність);

36. seeking (to do smth.) [`si:kıŋ] – прагнення; намагання (щось зробити);

37. to figure out [`fıgə<sup>r</sup> `aut] / [`fıgj<sup>ə</sup>r `aut] – розуміти; усвідомлювати; вирахувати; розгадувати;

38. a simple truth [tru:θ] – суто правда; чиста правда;

39. namely [`neımli] – а саме; тобто;

40. abstraction [ֽæb`stræk∫^ən] – абстрагування, абстракція; узагальнення;

41. to refer (to) [rı`fə:] – відсилати (до чогось); давати посилання, посилатися (на щось);

42. collectively [kə`lektıvli] – колективно; разом; у збірному значенні;

43. hence [hen^ts] – отже; відтак; звідси;

44. economic behaviour [ֽi:kə`nOmık bı`heıvjə] – економічна поведінка;

45. to flow (from – to) [fləu] / [flou] – текти, литися (від – до);

46. remaining time (the time left over) [rı`meınıŋ] – решта часу; час, що залишився;

47. relationship (between) [rı`leı∫^ən∫ıp] – спорідненість; зв’язок; взаємини, стосунки (між);

48. supply of money – грошова маса;

49. in more basic terms [`beısık] – узагальнюючи;

50. to allocate [`æləkeıt] – розміщувати, призначати (to); локалізувати; асигнувати, розподіляти (кошти тощо);

51. economic system – економічна система; економічний устрій;

52. traditional economic system – традиційна економіка;

53. command economic system [kə`mα:nd]– адміністративно-командна система;

54. market economic system – ринкова економіка;

55. to suggest [sə`Gest] – передбачати; пропонувати, радити; навіювати, наводити на думку;

56. to distribute [dı`strıbju:t] – розподіляти, роздавати; поширювати;

57. government planner [`plænə] – державний планувальник;

58. supply and demand [sə`plaı ænd dı`mα:nd] – попит і пропозиція;

59. household [`haushəuld] – домашнє (хатнє) господарство; сім’я, родина; домочадці;

60. taxing [tæksıŋ] – оподаткування;

61. subsidizing [`sAbsıdaızıŋ] – субсидії; фінансування; асигнування; надання дотацій;

62. regulating [ֽrekəg`nı∫^ən] – регулювання; регламентування;

63. lawmaking [`lO:meıkıŋ] – видання законів;

64. in recognition (of) [`regjuleıtıŋ] – в знак визнання чогось;

65. mixed economy [mıkst] – змішана економіка; економіка змішаного типу;

66. closed economy [kləuzd] – закрита, ізольована економіка; автаркічна економіка; автаркія;

67. open economy – відкрита економіка.

Task 17.Choose the correct option to complete the sentences.

1.It is generally accepted that people worry about …

A.love;

B.the weather;

C.the economy;

D.all the above;

2.In the 21^st century the economy is the foremost concern for …

A.economists;

B.most citizens;

C.governments;

D.individual households;

3.“The economy” is simply an abstraction that refers to the sum of all our individual …

A.production activities;

B.distribution activities;

C.consumption activities;

D.production and consumption activities;

4.An economy is a mechanism that gives answers to three questions:

A.What? Whose? How long?

B.What? How? For whom?

C.What? Where? When?

D.What? Who? Why?

5.A mixed economy is one that uses …

A.market and command mechanisms;

B.traditional and market mechanisms;

C.traditional and command mechanisms;

D.traditional, market and command mechanisms;

Task 18. Agree or disagree with the following statements. Correct false statements.

1. Our interest in the workings of the economy intensifies when we have some immediate stake in its performance.

2. For most people concern for the economy goes further than the price of tuition or the fear of losing a job.

3. Our job prospects and the prices we pay are related to national trends in prices, unemployment, and economic growth.

4. Most citizens are quite aware of how economy works.

5. The concepts of “the economy” and “the family” have much in common.

6. The economy is just an abstraction that has no impact on our everyday lives.

7. There are three types of economic systems: traditional, command, and market systems.

8. Resources in a command economy are allocated according to the laws of supply and demand.

9. There are several closed economies in the world.

10. Firms in an open economy export some of their production to other countries.

Task 19. Match the words in column A with their antonyms in column B.

Task 20.Find pairs of synonyms among the words below.

1.Immediate; 2.consistently; 3.to allocate; 4.an abstraction; 5.to be aware; 6.constantly; regularly; 7.to be common knowledge; 8.direct; primary; 9.to be concerned; 10.increasingly; 11.interest; share; 12.to be generally accepted; 13.lawmaking; 14.concept; idea; notion; 15.to distribute; 16.legislation; 17.to figure out; 18.more and more; 19.to understand; 20.performance; functioning; 21.primary; leading; 22.to work out; to understand; 23.stake; 24.the foremost; 25.to worry; 26.workings.

Task 21.Make up the gerund forms. In the text “Economy” (Task 16) find and translate the sentences which contain the derived gerunds.

Task 22. Some words can be used both as a noun and as a verb. Complete the table with the appropriate words from the text “Economy” (Task 16).

Task 23. Use the prepositions from the box in the following phrases. Refer to the text “Economy” (Task 16) to check your answers.

Task 24.“Odd man out.” In each line cross out a word that in its meaning differs from the others. Explain your choice.

1. production – trade – supply;

2. When? – How? – For whom?

3. selling – regulating – lawmaking;

4. the family – the economy – a country;

5. high rents – demand for housing – tuition increase;

6. closed economy – mixed economy – open economy;

7. mixed economy – traditional economy – market economy;

8. traditional economy – closed economy – market economy;

9. national trends in unemployment – job prospects – high rents;

10. the law of supply and demand – government planners – command economy.

Task 25.Translate into English.

1.У 21 столітті люди хвилюються через дефіцит державного бюджету, податки, безробіття та зростаючі ціни. 2.Інтерес до функціонування еко-номіки зростає, якщо маєш безпосередню частку в її роботі. 3.Зростання плати за навчання може змусити вас задуматись про природу та причини інфляції. 4.Звісно, для більшості людей інтерес до економіки не сягає да-лі, ніж ціна за навчання та побоювання втратити роботу. 5.Усе більше й більше громадян усвідомлюють, що перспективи їхнього працевлаштуван-ня та ціни, які вони сплачують, пов’язані із загальнонаціональними економічними тенденціями. 6.Мало хто справді розуміє, як функціонує економіка. 7.Істинною правдою є те, що економіка – це ми.

8.Економіка – це значною мірою частина нашого повсякденного життя.  9.Розуміти економіку – це розуміти власну економічну поведінку. 10.Ми витрачаємо значну частину нашого життя, виробляючи товари й послуги. 11.Економіку часто визначають як взаємозв’язок між виробництвом, торгівлею та грошовою масою у конкретній країні чи регіоні. 12.Еконо-міка – це механізм, який розподіляє дефіцитні ресурси між конкуруючими користувачами. 13.Те, яку відповідь суспільство дає на питання Що? Як? Для кого? (виробляти), визначає його економічну систему. 14.Економічні системи можуть класифікуватися як традиційні, адміністративно-командними та ринковими. 15.Ресурси в ринковій економіці розподіляються відповідно до законів попиту та пропозиції. 16.Уряд впливає на економіку через податки, субсидії, нормативні акти та законодавство. 17.Змішана економіка використовує ринкові та адміні-стративні механізми для координації економічної діяльності. 18.Існують закриті та відкриті економічні системи. 19.Єдиною справді закритою економікою є економіка усього світу. 20.У відкритій економіці компанії експортують частину своєї продукції.

Task 26. Answer the questions.

1. What do people usually worry about? Has it always been so? Why?

2. Why is the economy the foremost concern for most of people in the 21^st century?

3. Has the interest in the workings of the economy recently intensified? Why?

4. Do national trends in prices, unemployment, and economic growth affect job prospects of average citizens?

5. Do the majority of people really understand how the economy works?

6. How can the concept of “the economy” be explained in simple terms?

7. Is the economy very much a part of our everyday lives?

8. Is understanding of economic behaviour of citizens in a society important for understanding the economy as a whole? Why?

9. How is economy often defined?

10. What mechanism allocates scarce resources among competing users?

11. What things does this mechanism achieve?

12. What is known as an economic system?

13. How can economic systems be classified?

14. What is a mixed economy?

15. Are there many closed economies in the world?

Task 27. Say what you know about:

1. The foremost concerns of people living in a modern society.

2. Changes in people’s interest in the workings of the economy.

3. The economy as the sum of all our individual production and consumption activities.

4. The what, how, and for whom choices made in modern economies.

5. Major types of economic systems.

Task 28.Comment on the following sayings.

1. “Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it.” (Ronald Reagan)

2. “True individual freedom cannot exist without economic security and independence. People who are hungry and out of a job are the stuff of which dictatorships are made.” (Franklin D. Roosevelt)

3. “Every boom must one day come to an end.” (Ludwig von Mises)

4. “These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again.” (John D. Rockefeller about the Great Depression)

5. “The main vice of capitalism is the uneven distribution of prosperity. The main vice of socialism is the even distribution of misery.” (Sir Winston Churchill)

6. “Agriculture, manufacturers, commerce, and navigation, the four pillars of our prosperity, are then most thriving when left most free to individual enterprise.” (Thomas Jefferson)

UNIT 2. TRADE

Lesson 1

Task 1. a)The word “TRADE” has a wide range of meanings:

b) Which meaning of the word is revealed in the following sentences?

1. Global trade in manufactured goods has increased dramatically.

2. The two leaders signed agreements on trade and sporting links.

3. Both countries are willing to develop trade with each other.

4. Butchers are doing a roaring trade these days.

5. The trade could do more to help its workers.

6. I have been in jewelry trade for 20 years.

7. He learned his trade in the 1980s.

Task 2.Study the etymology of the word “TRADE”.

Task 3. a)Study the synonyms of “TRADE”.

b) In the sentences below substitute the words in italics for their synonyms in a).

1.Tom was forty and he was sorry that he hadn’t learned a trade in due time. 2.They’ve completely ruined the tourist trade for the next few years. 3.Trade between the two countries has increased. 4.He learnt his trade as a diver in the North Sea. 5.He’s a designer by trade. 6.They introduced novelties for the tourist trade. 7.The US was accused of unfair trade practices. 8.I think our products will appeal to your trade. 9.Ukraine conducts trade with many countries. 10.It has been a bad year for the retail trade. 11.His father was in trade. 12.I am willing to make a trade with you. 13.They represent the wool-len trade. 14.Our company has a lot of trade. 15.He is a jeweller by trade.

Task 4. Make the difference between the following words.

Task 5. a)The words below frequently occur after “TRADE”.

b) Which of the above word combinations means:

· a disagreement between countries in which they take action to damage each other’s trade;

· a name that is used by a particular company; a name that a company gives to a product; a word that is used for something within a particular industry but is not well known outside the industry;

· a piece of information, for example the method of making a product, that a company does not want other companies to know;

· a situation in which the value of a country’s exports is greater than the value of its imports;

· a situation in which the value of a country’s imports is greater than the value of its exports; the amount by which the two values are different;

· a wind blowing obliquely (під кутом) towards the equator either from the northeast in the northern hemisphere or the southeast in the southern hemisphere, approximately between latitudes 30° N and S, forming part of the planetary wind system;

· an action by a government that makes free trade between its own country and other countries more difficult or impossible (e.g. tariffs, quotas, embargoes, and sanctions);

· an event at which many different companies producing related products show and sell their products?

Task 6.Give the English equivalents for:

1. Пасат (вітер);

2. торгова війна;

3. зовнішньоторговельний дефіцит;

4. фірмова (торгівельна) назва товару; назва фірми;

5. виробничий секрет; професійна таємниця; “секрет фірми”;

6. активне сальдо торговельного балансу; активний торговельний баланс;

7. торговий бар’єр, торговельні обмеження; перепони на шляху розвитку торгівлі;

8. торговельний ярмарок; виставка-продаж (демонстрація різноманіт-них товарів на ярмарку, після завершення якого всі виставлені зразки, як правило, розпродуються);

Task 7. Translate into Ukrainian.

1.The country posted (оголосила) a trade deficit of $1.5 billion in January.     2.The company uses the trade name Marubeni in the US. 3.The recipe [`resəpi] for the drink is a closely guarded trade secret. 4.They have managed to maintain a large trade surplus. 5.The European Commission called for talks to try to avert a trade war with the US. 6.Antitrades (антипасати – у тропічних широтах перенесення повітря в західному напрямку поверх шару східних вітрів) are winds in the upper atmosphere blowing in the opposite direction from and above the trade winds. 7.The international trade fair was a great success. 8.The most common trade barriers include tariffs, quotas, embargoes, and sanctions.  

Task 8.Think and answer.

1. Do trade winds blow in Ukraine?

2. Have you ever visited trade fairs?

3. How can a country reduce its trade deficit?

4. Why do exports from developing countries face higher trade barriers than products from developed countries?

5. What makes countries agree to lower trade barriers to some imports?

6. Have you ever played Trade Wars, the pre-eminent BBC game, played by tens of thousands of computer enthusiasts around the world?

7. Do you think trade wars are productive and increase the economic welfare and total social surplus of all nations involved?

8. Can the threat of a trade war be helpful in winning a concession of some sort from the other side?

9. Why do companies typically invest money, time and energy (work) into generating and keeping trade secrets?

Task 9. a) Match the terms in column A with their definitions in column Bpaying attention to the underlined words.

b) Which of the above terms means:

1. постачальник;

2. роздрібний торговець;

3. крамар; власник магазину;

4. оптовик, оптовий торговець;

5. дистриб’ютор, агент з продажу;

6. торговець, продавець; ходовий товар;

7. купець; торговець, крамар (особл. оптовий);

8. торговець, дилер, посередник, розповсюджувач;

9. трейдер; торговець (особливо оптовий); біржовий маклер;

10. продавець, торговець, рознощик (морозива, газет); торговельний апарат?

Task 10.Translate into Ukrainian:

1. He’s a dealerin second-hand cars.

2. Return the unit to your dealer for repair.

3. Contact your dealer for more information.

4. She set up in business as an antiques dealer.

5. She’s a dealer in the financial futures market.

6. Being a sole traderis a risky venture.

7. Numerous risks are taken every day by currency traders.

8. Many of the small local traders have been forced to close.

9. They are a leading supplier of computers in the UK.

10. You will need to be able to deal with both customers and suppliers.

11. The law is intended to protect both the buyer and the seller.

12. She stopped to buy a bunch of violets from a flower seller in the market square.

13. Venice [`venıs] was once a city of rich merchants.

14. He was the eldest son of a wealthy wine merchant.

15. They are one of the country’s largest food retailers.

16. Jewellery, leather and clothes are offered by street vendors at every corner.

17. The cost to the vendor of selling land by auction is normally higher than by private treaty.

18. Get a list of vendors who deliver frozen food.

19. They are Japan’s largest software distributor.

20. The majority of stock is bought through wholesalers, before being repackaged for retailing to the public.

21. He is a village shopkeeper.

Task 11. Study the following words.

Task 12. a) Define the meaning of the word “трейдер” in Ukrainian. Let the following headlines from Ukrainian mass media be your clues.

1. “Американські трейдери зайнялися високошвидкісною торгівлею.” 2. “Йде постійне витіснення незалежних трейдерів.” 3. “Трейдер – шкідлива робота?” 4. “Чого не знають трейдери.” 5. “У країні дорожчає цукор. Прем’єр звинувачує міністрів, а ті – трейдерів.” 6. “Думка трейдера не завжди правильна.” 7. “Європейська пшениця: На думку трейдерів, фундаментальних передумов для зростання цін немає.”       8. “МВФ вселив упевненість у трейдерів.” 9. “Найкращий Інтернет-трейдер заробив майже 65% за місяць.” 10. “Змова вітчизняних трейдерів не дозволяє агропромисловому комплексу отримати добрий прибуток.” 11. “Провідний трейдер нержавіючої сталі відновив обсяги продажу.” 12. “Антимонопольний комітет звинуватив нафтотрейдерів у змові.” 13. “Газові трейдери задоволені ситуацією на ринку.”

b) Think and answer.

1. What do traders usually deal in? Are they involved in production?

2. Do governments supervise their activities? Why?

3. Can traders affect prices in the markets? In what way?

4. In what markets are traders most active these days? Why?

5. Do traders contribute to the social welfare?

Task 13. Practice reading the following words.

Task 14. Read the text.

What is Trade?

Trade is the willing exchange of goods, services, or both. Trading is not a new phenomenon – we’ve been doing it for centuries! Trade originated with the start of communication in prehistoric times. It was the main facility of prehistoric people, who bartered goods and services from each other before the invention of the modern day currency.

The trade that occurred among the most primitive humans has evolved considerably over time, and the word “trade” has come to include the complex and varied activity that occurs in the 21^st century. However, the basic elements haven’t changed a bit – trade still involves giving one thing in exchange for another.

The original form of trade was barter, the direct exchange of goods and services. Modern traders instead generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade.

Trade exists for many reasons. Due to specialization and division of labour, most people concentrate on a small aspect of production, trading for other products. Trade exists between regions because different regions have a comparative advantage in the production of some tradable commodity, or because different regions’ size allows for the benefits of mass production. As such, trade at market prices between locations benefits both locations. A mechanism that allows trade is called a market.

Trade comprehends every species of exchange or dealing, either in the produce of land, in manufactures, in bills, or in money; but it is chiefly used to denote the barter or purchase and sale of goods, wares, and merchandise, either by wholesale or retail.

Trade is also called commerce. Commerce is a division of trade or production which deals with the exchange of goods and services from producer to final consumer. It comprises the trading of something of economic value such as goods, services, information or money between two or more entities.

Commerce primarily expresses the fairly abstract notions of buying and selling, whereas trade may refer to the exchange of a specific class of goods (“the sugar trade”, for example), or to a specific act of exchange (as in “a trade on the stock-exchange”).

Vocabulary Notes:

1. willing [`wılıŋ] – добровільний; охочий; готовий щось зробити;

2. phenomenon [fə`nOmınən] – явище; рідкісне явище, феномен;

3. to originate [ə`rıGəneıt] – брати початок, походити, виникати (від чогось – from, in; від когось – from, with);

4. prehistoric times [ֽpri:hı`stOrık] – доісторичні часи;

5. facility [fə`sıləti] – здатність; уміння; вправність; можливості, сприятливі умови; умови діяльності;

6. to barter(for) [`bα:tə] / [`bα:rt^ər] – міняти, обмінювати (на); торгуватися;

7. innovation [ֽınəu`veı∫] – винахід; інновація; новація;

8. currency [`kArənsi] / [`kə:rənsi] – валюта, гроші;

9. to occur [ə`kə:^r] – траплятися; відбуватися; зустрічатися, мати місце;

10. to evolve [i`vOlv] / [i`vα:lv] – розвивати(ся); еволюціонувати; розгортати(ся);

11. varied [`veərid] – різний, різноманітний; мінливий, що змінюється;

12. to negotiate [nı`gəu∫ieıt] – вести переговори; домовлятися; продавати, реалізувати; вести справу;

13. medium of exchange[`mi:diəm] – засіб обміну; засіб міжнародних розрахунків;

14. simplify [`sımplıfaı] – спрощувати;

15. specialization[ֽspe∫əlaı`zeı∫<sup>ə</sup>n] / [ֽspe∫ələ`zeı∫^ən]– спеціалізація;

16. division of labour [dı`vıჳ<sup>ə</sup>n əv `leıbə] – розподіл праці (спосіб організації праці декількох людей, ґрунтований на диференціації трудових завдань і розподілу їх між людьми, групами людей, регіонами, країнами тощо);

17. abstract [`æbstrækt] – абстрактний; розм. теоретичний;

18. advantage [əd`vα:ntıG] / [əd`væntıG] – перевага (над – of, over); вигода, користь;

19. comparative [kəm`pærətıv] – порівняльний, відносний;

20. comparative advantage [kəm`pærətıv əd`vα:ntıG] – порівняльна перевага (здатність виробника – країни, регіону, фірми, індивіда і т.д. – виготовляти певне благо з меншими альтернативними затратами, ніж інший виробник);

21. tradable (= tradeable) [treıdəb^əl] – ходовий (про товар); такий, що є предметом обігу; товарний; ринковий; оборотний; обіговий;

22. to allow for [ə`lau] – враховувати; вводити поправку (на який-небудь ефект);

23. benefit [`benıfıt] – користь; вигода; прибуток; benefits (pl) – сумарні вигоди; загальний корисний результат; економічний ефект;

24. location [ləu`keı∫<sup>ə</sup>n] / [lou`keı∫^ən] – місцевість; поселення; розміщення; дислокація; місце проживання;

25. to comprehend [ֽkOmprı`hend] / [ֽkα:mprı`hend] – охоплювати, включати (в себе);

26. species (of exchange or dealing) [`spi:∫i:z] – вид; різновид; порода;

27. dealing[di:^əlıŋ]– розподіл (чого-небудь серед когось); роздача; торговельні справи; дружні або ділові відносини;

28. the produce[`prOdju:s] / [`proudu:s] – продукція, вироби, продукт; випуск (продукції), обсяг випуску; результат;

29. manufacture [ֽmænju`fækt∫ə] / [ֽmænjə`fækt∫^ər] – виріб; фабрикат;

30. bill[bıl] – рахунок; вексель; грошовий документ;

31. to denote [dı`nəut] – позначати; означати; значити; вказувати на;

32. ware(s) [weəz] / [we^ərz] – вироби; товар(и), продукти виробництва;

33. merchandise [`mə:t∫əndaız] – товари; торгівля;

34. wholesale [`həulseı^əl] – оптова торгівля; оптовий;

35. retail [`ri:teı^əl] – роздрібний продаж; роздрібний; вроздріб;

36. commerce [`kOmə:s] / [`kα:m^ərs] – (оптова) торгівля, комерція; комерційна діяльність;

37. primarily [praı`merəli] – спершу, спочатку, перед усім; головним чином, першочергово;

38. fairly [`feəli] / [`ferli] – досить, цілком; амер. безумовно, фактично;

39. entity [`entəti] – суб’єкт; юридична особа; самостійна правова одиниця; особа; підприємство; організація; органзізація-суб’єкт права;

40. stock-exchange [`stOk ıks`t∫eındჳ] – фондова біржа.

Task 15. a)Fill in the blanks with verb or adjective forms. Use your dictionary if necessary.

b) Use the correct verb or adjective forms in the sentences. Change the grammatical form of the words if necessary.

Compare

a) The research aims to _____ and contrast policies in British, American, and Japanese firms.

b) The two of them are in a _____ financial situation.

Considerable

a) It is a matter of _____ importance to all of us.

b) He is _____ whether to accept another job offer.

Reason

a) I tried to _____ with her, but without success.

b) It seems _____ to expect rapid urban growth.

Negotiable

a) The two sides have yet to show their willingness to _____.

b) Terms and conditions are _____.

To profit

a) Some of their new electronic products are highly _____.

b) I think we have reached an agreement which not only _____ management but also labour.

Variable

a) Winds will be _____.

b) The details may _____, but all of these savings plans have the same basic goal.

To trade

a)These middlemen are _____ in luxury goods.

b)A _____ good or service can be sold in another location distant from where it was produced.

Separable

a) They are _____ by thousands of miles.

b) Character is not _____ from physical form but is governed by it.

Task 16. Match items in column A with their synonyms in column B.

Task 17. a)The word “ТОРГУВАТИ(ся)” has a range of English equivalents:

b)Translate into Ukrainian paying attention to the words in italics.

1.They are still arguing over the details of the contract. 2.The women in the market often bargain away for hours. 3.Shop in small local markets and don’t be afraid to bargain. 4.The government will vigorously pursue individuals who traffic in drugs. 5.The store is open day and night. 6.The shop carries only name brands. 7.The company deals in computer software. 8.Who do you do business with in Manila? 9.Let’s not haggle over (about) a few dollars. 10.Ella showed her the best places to go for a good buy, and taught her how to haggle with used furniture dealers. 11.He denied burglary but admitted handling stolen goods. 12.The company markets a range of clothing, mainly through independent stores. 13.The company developed a plan to merchandise Mexican food products in grocery stores. 14.I don’t think dealers sell these cars at much of a profit. 15.They are middlemen trading in luxury goods. 16.They may refuse to trade, even when offered attractive prices. 17.They had years of experience of trading with the West. 18.He has been trading in antique furniture for 25 years. 19.The two sides have spent most of their time wrangling over procedural [prəu`si:G^ərəl] problems. 20.A group of MPs is still wrangling with the government over the timing of elections.

c)Make up your own sentences with the following words and phrases:

Task 18. Translate into English.

1.Торгівля – це добровільний обмін товарів та послуг. 2.Торгівля виникла з початком спілкування в доісторичні часи. 3.Термін “торгівля” включає в себе комплексну та розмаїту діяльність. 4.Базові елементи торгівлі не змінилися з доісторичних часів – це обмін однієї речі на іншу.               5.Початковою формою торгівлі був бартер. 6.Купівля може бути відокремлена від продажу завдяки засобу обміну – грошам. 7.Винахід грошей суттєво спростив торгівлю. 8.Торгівля існує з багатьох причин. 9.Завдяки спеціалізації та розподілу праці більшість людей можуть зосередитися на конкретному аспекті виробництва. 10.Різні регіони мають відносну перевагу у виробництві товарів, які є предметом обігу. 11.Як така, торгівля між різними територіями приносить користь обом територіям. 12.Механізм, який робить можливим торгівлю, називається ринком. 13.Комерція – це підрозділ торгівлі або виробництва, що має справу з обміном товарів та послуг від виробника до кінцевого споживача. 14.Комерція в першу чергу виражає достатньо абстрактні поняття купівлі і продажу. 15.Торгівля зазвичай стосується обміну конкретного класу товарів або конкретного акту обміну.

Task 19. Answer the questions.

1. What is trade?

2. Is trading a new phenomenon? Give your reasons.

3. When did trade originate?

4. What was the main facility of prehistoric people who bartered goods and services from each other before the invention of the modern day currency?

5. Have the basic elements of trade changed over time?

6. What was the original form of trade?

7. What is barter?

8. How did invention of money affect trade?

9. Does trade exist for many reasons? What are they?

10. What mechanism allows trade?

11. What does trade comprehend?

12. What is the difference between trade and commerce?

Task 20. Say what you know about:

1. The origin of trade.

2. Peculiarities of trade in the 21^st century.

3. Mediums of exchange and their effect on trade.

4. Benefits of trade.

5. The difference between trade and commerce.

Task 21.Comment on the following sayings.

1. “Twenty years from now you will be more disappointed by the things that you didn’t do than the ones you did do. So throw off the bowlines. Sail away from the safe harbour. Catch the trade winds in your sails. Explore. Dream. Discover.” (Mark Twain)

2. “Who has a trade may go anywhere.” (Spanish proverb)

3. “Writing is a difficult trade which must be learned slowly by reading great authors; by trying at the outset to imitate them; by daring then to be original; by destroying one’s first productions.” (Andre Maurois)

4. “Eat and drink with your friends but do not trade with them.” (Turkish proverb)

5. “Many have made a trade of delusions and false miracles, deceiving the stupid multitude.” (Leonardo da Vinci)

6. “A society that will trade a little liberty for a little order will lose both, and deserve neither.” (Thomas Jefferson)

Lesson 2

Task 1. a)Study the etymology of the word “COMMERCE” and its meanings.

Etymology:	COMMERCE
Latin commercium – “trade, trading” – from com- “together” + mercium (from merx, merc- “merchandise”) → Middle French → English(1537 in sense “dated social dealings between people”) Дата добавления: 2018-06-27; просмотров: 1142; Мы поможем в написании вашей работы! Поделиться с друзьями: ⇐ Предыдущая12345678910 Мы поможем в написании ваших работ! . . © 2014-2024 — Студопедия.Нет — Информационный студенческий ресурс. Все материалы представленные на сайте исключительно с целью ознакомления читателями и не преследуют коммерческих целей или нарушение авторских прав (4.568)