| 1. insurance | a. money provided by a bank or other institution to help buy or do something |
| 2. finance | b. protection against something bad happening |
| 3. decision-making | c. someone who buys goods or services |
| 4. customer | d. an advantage, improvement, or help that you get from something |
| 5. benefit | e. the process of making important decisions |
.
| 1. | 6. |
| 2. | 7. |
| 3. | 8. |
| 4. | 9. |
| 5. () | 10. |
.
| 1. external shock | 6. business cycle |
| 2. macroeconomic instability | 7. undermine markets |
| 3. wage rates | 8. consumption |
| 4. information asymmetry | 9. restraint on producers |
| 5. second hand car market | 10. good quality |
.
1. is a situation where buyers and sellers do not know enough about each other's positions to price goods and services properly.
a) business cycle b) competition c) incomplete market
2. . occur where there are significant social costs or benefits from production or consumption that are not reflected in market prices.
a) emission fees b) externalities c) wage rates
3. is a prime source of market failure.
a) macroeconomic instability b) consumption c) restraint on producers
4. . arise where one party has more or better information than the other.
a) information asymmetries b) external shocks c) restraint on producers
5. are goods which are undersupplied in a typical market.
a) private goods b) personal goods c) public goods
.
1. When does market failure happen?
2. What is information asymmetry?
3. What is cost-benefit analysis?
4. What are public goods?
5. What is incomplete market?
6. 3 Progressive (Continuous), Present Progressive (Continuous) Tense, Past Progressive (Continuous) Tense.
Part 2
.
break even - ,
throw in ,
2. Street Market ( , Ctrl, ).
: http://esl-lab.com/flea/fleard1.htm
.
1. Why did the man not buy the ring for sale?
A. He doesn't think it is very special
B. Someone else bought it before him
C. He has no need for a ring
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|
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D. The ring is too small
2. What is the problem with the CD player?
A. The buttons are scratched
B. The CD casing is chipped
C. The handle is damaged
D. The display is loose
3. The man is not interested in the leather jacket because:
A. it is stained
B. he already has one
C. its too expensive
D. the seams are coming undone
4. What is the customer's initial counter offer for the records?
A. $25
B. $28
C. $30
D. $35
5. From the conversation, what does the customer probably purchase from the merchant in the end?
A. only records
B. only a vase
C. some records and a vase
D. nothing
.
1. What is a market? What other meanings does this word have?
2. What is market economy? Is Russia a market economy?
3. Imagine you are a product manager of a fast food company. Your company possesses 5% of the fast food industry market share. What can you do to increase your market share?
:
| To my mind | In my experience |
| In my opinion | As far as I understand |
| On the one hand, on the other hand | From my point of view |
| If my memory serves me right | If I am not mistaken |
| It seems to me that | Personally, I think |
| My personal view is that | I am sure/certain/convinced that |
| The fact is that | This proves that |
| It is obvious that | There is no doubt that |
Part 3
- . .
You have received goods from your supplier.
a) write confirmation letter;
b) confirm receiving the goods;
c) thank Mr. Farley for goods delivery.
| 16th March 2010 The Secretary Security Inc. 15, South Street, New-York, USA Dear Mr. Williams, In accordance with our shipment agreement we have delivered 300 units of our surveillance cameras on 18.04.2011. Please confirm receiving the purchases upon delivery. Best regards, Nick Farley |
Unit 5
Part 1
