1. I said to him: Open the door, please.
2. The manager said to the secretary: Copy the letter.
3. She asked: Dont be late.
4. Buy some meat in the shop, said my wife to me.
5. The boss said to them: Dont leave the office until I come back.
VII. , II, .
1. The question discussed at a number of meetings last month has been now decided.
2. Sent to the wrong address the letter didnt reach him.
3. The captain informed us of the quantity of wheat loaded.
4. Part of the cargo was placed on deck.
VIII. . (Complex Object).
1. I would like the secretary to make an appointment with the marketing manager.
2. Our manager heard Mr. Brown promising to deliver the machines promptly.
3. You expect the compressors to be shown in operation, dont you? Yes, we do. But Im afraid that wont be shown.
4. When do you want the goods to be delivered? By the end of the year.
IX. .
An Offer, its Kinds
An offer (a quotation) is a statement by the Sellers usually in written form expressing their wish to sell the goods. But it is not legal document i.e. if the Sellers for this or that reason decide not to sell, the Buyers have no legal remedy. An offer is only the first step in a contract.
Offers (quotations) will as a rule include the following information:
a) the description of the goods offered (their quality, quantity)
b) details of prices, discounts and terms of payment
c) the date or the time and place of delivery
There may be different kinds of offers.
Sometimes the Sellers may offer their goods to their regular customers without waiting for an inquiry or they may be forced to take the initiative under present competitive conditions and to send their quotation to those who may be interested in their goods. These are voluntary offers of sometimes they are called free offers. They were formerly called offers without obligations. In this case there must be an indication in the offer that it is made subject to the goods being unsold (available) when the order is received. The opening phrases in voluntary offers may be: We think you will be interested in our quotation for the goods or We have pleasure in enclosing our latest catalogue (or the price-list of our products).
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- , .
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1. What is an offer?
2. What information is usually included in an offer?
3. What kinds of offers do you know?
4. What is a free offer?
5. When are free offers made?
6. What qualifying words in an offer indicate that it is a voluntary one?
7. What are the usual opening phrases in voluntary offers?
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X. .
Theory of the Consumer
The individual consumer or household is assumed to possess a utility function which specifies the satisfaction which is gained from the consumption of alternative bundles of goods. The consumers income or income-earning power determines which bundles are available to the consumer. The consumer then selects a bundle that gives the highest possible level of utility. With few exceptions, the consumer is treated as a price taker that is, the consumer is free to choose whatever quantities income allows but has no influence over prevailing market prices. In order to maximize utility the consumer purchases goods so that the subjective rate of substitution for each pair of goods as indicated by the consumers utility function equals the objective rate of substitution given by the ration of their market prices. This basic utility maximization analysis has been modified and expanded in many different ways.
Theory of the Producer
The individual producer or firm is assumed to possess a production function, which specifies the quantity of output produced as a function of the quantities of the inputs used in production. The producers revenue equals the quantity of output produced and sold times its price, and the cost to the producer equals the sum of the quantities of inputs purchased and used times their prices. Profit is the difference between revenue and cost. The producer is assumed to maximize profits subject to the technology given by the production function. Profit maximization requires that the producer use each factor to a point at which its marginal contribution to revenue equals its marginal contribution to cost.
Under pure competition, the producer is a price taker who may sell at the going market price whatever has been produced. Under monopoly (one seller) the producer recognizes that prices the price paid for an input increases as purchases are increased.
