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IV. Test
1. Выберите из колонки справа по смыслу слова, пропущенные в предложениях.
| 1) At the London Stock Exchange stockbrokers ... business on behalf of clients. 2) When supply is much greater than demand traders cut prices until the ... price is reached. 3) To understand how a market works in practice, we must study the interaction of ... and supply. 4) When the quantity demanded ... the quantity supplied, the sellers may run out of stock. 5) ... supply happens when the price of a commodity is too high. 6) At high prices it becomes very ... to supply the goods. 7) To balance the market, the traders must ... intermediate price. 8) At the auctions buyers ... against each other with the seller taking a passive role. 9) Some markets do not bring buyers and sellers together and operate through ... . 10) When the price is too low, there is no ... to supply the commodity. | a) exceeds b) lucrative c) transact d) bid e) intermediaries f) equilibrium g) underlie h) incentive i) demand j) charge k) capacity l) excess |
2. Выберите существительное, которое может следовать за данным глаголом:
| 1) to bring together a) the buyers; b) the prices; c) the sales. | 2) to charge a) spaces; b) stocks; c) prices. |
| 3) to exceed a) the goods; b) the quantity; c) the quality. | 4) to increase a) the intermediary; b) the supply; c) the equilibrium. |
| 5) to adopt a) a definition; b) an allocation; c) an auction. | |
3. Выберите из приведенного списка термины, соответствующие данным определениям.
| а) gathering of buyers and sellers to exchange commodities or services; space or building used for it; b) the quantity of commodities sellers wish to sell at each possible price; c) the quantity of commodities buyers wish to purchase at each possible price; d) amount or number being measurable; e) state of balance; f) buying and selling transaction. | 1. demand; 2. equilibrium; 3. sale; 4. market; 5. supply; 6. quantity. |
Unit 8
I. Information for Study.
Text A
Прочтите следующую информацию и запишите на полях основные термины, связанные с тематикой текста.
THE PRICE OF RELATED GOODS
Suppose, we study the demand for tube travel. A rise in bus fares or petrol prices would increase the quantity of tube travel demanded at each possible price. In everyday language, we think of buses and private cars as
substitutes for the tube. Loosely speaking, this means that a journey may be made by bus or car instead of by tube. More precisely, an increase in the price of buses or cars will lead to an increase in the demand for tube travel. Economists use an even more precise definition of substitutes but everyday language gives the right idea of what we mean. Similarly, everyday language suggests that petrol and cars are complements because you cannot use a car without also using petrol. A rise in the price of petrol tends to reduce the demand for cars.
How do these ideas about substitutes and complements relate to the demand for chocolate bars? Clearly, other sweets (mint drops and jelly babies) are substitutes for chocolate. We expect an increase in the price of other sweets to increase the quantity of chocolate demanded at each possible chocolate price, as people substitute away from other sweets towards chocolate. If people buy chocolate to eat at the cinema, films would be a complement for bars of chocolate. A rise in the price of cinema tickets would reduce the demand for chocolate since fewer people will go to the cinema. Nevertheless, it is difficult to think of a lot of goods that are complements for chocolate. This suggests, correctly, that most of the time goods are substitutes for each other. Complementarity, while present in many instances, is usually a more specific feature (record players and records, coffee and milk, shoes and shoelaces).
Before we leave the influence of prices of related goods on the demand for a particular commodity, it should be noted that the development of new products can be viewed within this framework. Technological advances that make possible hand calculators, low fuel consumption cars, or low-calorie beer affect the demand for related goods. One way to think about this is to say that the new product had always been available, but previously its price had been prohibitively high so that nobody could afford it. The technological advance enables the new product to be made available at a much lower price. This will stimulate demand for goods that are complements to the new product (video games may increase the demand for televisions on which they can be played in the home) but reduce the demand for substitutes for the new product (being able to watch films on a home video reduces the demand for going to the cinema).
CONSUMER INCOMES
Demand is also influenced by consumer income.When incomes rise, the demand for most goods increases. Typically, consumers buy more of everything. However, there are exceptions.
A normal good is a good for which demand increases when incomes rise. An inferior good is a good for which demand falls when incomes rise.
As their name suggests, most goods are normal goods. An example of an inferior good might be cheap but nasty cuts of meat. As household incomes rise, households spend absolutely less on cheap cuts and more on better cuts of meat such as steaks. Inferior goods are typically cheap but low-quality goods which people would prefer not to buy if they could afford to spend a little more.
TASTES
We must also consider consumer tastes or preferences. In part, these are shaped by convenience, custom, and social attitudes. When the Beatles and the Rolling Stones first became popular, the demand for haircuts suddenly fell. The fashion for the mini-skirt reduced the demand for textile material. More recently, the emphasis on health and fitness has increased the demand for jogging equipment, health foods, and sports facilities while reducing the demand for cream cakes, butter, and cigarettes.
II. Exercises
1. Переведите текст на русский язык, используя словарь в конце урока, обращая внимание на перевод терминов.
2. Найдите в тексте ответы на поставленные вопросы и запишите их.
1) What three “other” things are relevant to demand curves?
2) What is the relation between bus fares or petrol prices and the quantity of tube travels?
3) What is the relation between buses and private cars and the tube?
4) Why is petrol a complement for a car?
5) What are substitutes for chocolate bars?
6) Why can films be a complement for chocolate bars?
7) How do technological advances affect the demand for complements to a new product?
8) How do technological advances affect the demand for substitutes for a new product?
9) What happens to the demand for normal goods when consumer incomes rise?
10) What happens to the demand for inferior goods when consumer incomes rise?
11) What do consumer tastes depend on?
3. К выделенным жирным шрифтом словам в тексте подберите близкие по значению слова из следующего списка:
position, habit, user, preferences, low-quality good, exact, equivalent.
4. Подчеркните в тексте A предложения, соответствующие по смыслу данным ниже:
1) Увеличение платы за автобус или цены на бензин приводит к увеличению спроса на метро.
2) Автобусы и частные машины являются заменителями метро.
3) Машины и бензин дополняют друг друга, т.к. нельзя использовать машины без бензина.
4) Многие вещи взаимно дополняют друг друга, как, например, проигрыватели и пластинки, кофе и молоко, ботинки и шнурки, так что это явление очень часто встречается.
5) Так как цены на сопутствующие товары влияют на спрос на определенный товар, то разработки новых товаров можно рассматривать с этой точки зрения.
6) Когда доходы потребителей растут, увеличивается спрос на хорошие товары.
7) На товары низкого качества спрос падает при росте доходов потребителей.
8) Потребительские вкусы зависят от удобств, обычаев и общественного положения.
5. Образуйте наречия от данных прилагательных. Переведите их.
previous, prohibitive, possible, correct, particular, usual, typical, technological, normal, recent.
6. Изложите краткое содержание текста А на английском языке в письменной форме.
7. Прочтите список ключевых слов к тексту В:
shifts - сдвиги, изменения
underlying factors - основополагающие факторы
to draw (drew) - чертить
to shift - сдвинуться
to sketch - рисовать
transition - переход
to put upward pressure - оказывать давление снизу вверх
to single out - выделить
TABLE 3. ICE-CREAM PRICES AND CHOCOLATE DEMAND
| Price of | Demand for chocolate | ||||
| Chocolate | Low ice-cream price | High ice-cream price | |||
| (£/bar) | (million bars/year) | (million bars/year) | |||
| 0.00 | 200 | | 280 | | |
| 0.10 | 160 | | 240 | | |
| 0.20 | 120 | | 200 | | |
| 0.30 | 80 | | 160 | | |
| 0.40 | 40 | | 120 | | |
| 0.50 | 0 | | 80 | | |
FIGURE 4. ICE-CREAM PRICES AND CHOCOLATE DEMAND
8. Прослушайте 2-3 раза и постарайтесь понять текст В на кассете. Обратите внимание на таблицу 3 и рисунок 4.
9. Дайте краткое изложение текста на русском языке.
10. Выберите утверждения, которые соответствуют содержанию текста Вх) :
1) Ice-cream could not be a substitute for chocolate.
2) At each chocolate price there is a larger quantity demanded of chocolate when ice-cream prices are low.
3) When the price of ice-cream rises people substitute chocolate for ice-cream and we have excess demand for chocolate.
4) The effect of excess demand is that the price of chocolate bars rises until it reaches a new equilibrium price.
5) The higher price reduces the quantity demanded.
6) A normal good is a good for which demand reduces when incomes rise.
7) People always tend to buy cheap goods if their incomes are low.
8) When incomes rise, the demand for most goods falls.
III. Vocabulary to Text A1
| attitude | - | позиция, положение |
| available | - | доступный |
| complement | - | дополнение |
| complementarity | - | свойство товаров быть дополнением друг к другу, взаимодополнение |
| custom | - | обычай |
| cut | - | кусок (мяса) |
| to depict | - | описывать |
| to encounter | - | встретить |
| exception | - | исключение |
| fitness | - | здоровье (хорошее состояние) |
| framework | - | рамки |
| fuel | - | горючее |
| heading | - | заголовок |
| inferior | - | низкокачественный |
| loosely speaking | - | проще говоря |
| nasty | - | плохой |
| previously | - | ранее |
| prohibitive | - | препятствующий |
| related goods | - | сопутствующие товары |
| to shape | - | формировать |
| substitute | - | заменитель |
| to substitute | - | заменять |
| taste | - | вкус |
IV. Test
1. Выберите из колонки справа по смыслу слова, пропущенные в предложениях.
| 1) This table ... the relation between bus fares and petrol prices. 2) Cars and buses can be ... for the tube. 3) If people buy chocolate to eat at the cinema, films would be a ... for bars of chocolate. 4) If you look at this Figure you will see that the increase in ice-cream prices leads to the ... in the demand curve. 5) In the following unit you will ... more examples of complements. 6) When their incomes rise, ... buy more of everything. 7) An example of an ... good can be nasty cuts of meat. 8) ... depend on convenience, custom, and social attitudes. 9) People would prefer not to buy inferior goods if they could ... to spend a little more. 10) Technological advances enable the new product to be ... at a much lower price. | a) shift b) consumers c) inferior d) depicts e) afford f) substitutes g) tastes h) available i) complement j) encounter k) precise l) exception |
2. Выберите существительное, которое может следовать за данным глаголом:
| 1) to stimulate a) demands; b) customs; c) substitutes. | 2) to afford a) a product; b) an effect; c) an advance. |
| 3) to watch a) incomes; b) films; c) tastes. | 4) to shape a) substitutes; b) consumers; c) tastes. |
| 5) to encounter a) tastes; b) definitions; c) health. | 6) to shift a) a quantity; b) a price; c) a curve. |
3. Выберите из приведенного списка термины, соответствующие данным определениям.
| a) a good for which demand increases when incomes rise; b) a good for which demand falls when incomes rise; c) a thing performing some function instead of another thing; d) a thing which cannot be used without the other one; e) personal preference for a particular good; f) to be able to spend money for something you are willing to buy. | 1. a substitute; 2. to afford; 3. a normal good; 4. an inferior good; 5. a complement; 6. taste; |
Unit 9
I. Information for Study.
Text A
Прочтите следующую информацию и запишите на полях основные термины, связанные с тематикой текста.
OUTPUT SUPPLY
REVENUES, COSTS, AND PROFITS
A firm’s revenue