Self-study 1 Task Fill in the blanks with an appropriate answer
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SELF STUDY (1)
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- Task 1.2. Read and write the summary to the given text Stockbroker
- Task 1.3. Letter writing
- Task 1.4. Speaking.
- Task 2.2 . Read and write the summary to the given text How the market works
- Task 2. 3. Letter writing
- Task 2.4. Speaking.
- Task 3 . 2. Read and write the summary to the given text Inflation
- Task 3.3. Letter writing
- Task 3.4. Speaking.
- Task 4.2. Read and write the summary to the given text A Private enterprise economy
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Self-study 1 Task 1.1. Fill in the blanks with an appropriate answer 1. When you ... older, you'll change your mind about this. a) will grow c) have grown b) grow d) grew 2. By the time the police get there, the burglars ... . a) vanish c) will have vanished b) will vanish d) vanished 3. As soon as the taxi arrives, I ... you know. a) let c) had let b) have let d) will let
a) sends c) will send b) has sent d) sent
a) is leaving c) leaves b) will be leaving d) left
a) had been finished c) will be finished b) was finished d) finishes
a) lose c) had lost b) lost d) was losing
b) have lost d) lose 9.1 ... for this bank for five years already but I have decided to change my job. a) am working c) have been working b) has worked d) worked
a) bought c) will buy b) had bought d) would buy
a) pulls down c) is being pulled down b) is pulled down d) pulled down
a) have c) had had b) was having d) had
a) will begin c) had begun b) would begin d) began
b) may d) as to 15. The last film I saw was ... frightening than this one. a) little c) least b) less d) the least 16. Someone is calling you. Will you answer ... phone? a) a c) - b) the d) these 17. To tell the truth I don't like ... pair of trousers that I bought last month. a) those c) that b) this d) a
a) my c) her b) mine d) our 19. Today is ... cold than yesterday. So, I'm wearing my shorts.
a) little c) least b) less d) the least 20. "Come home ... Christmas Day, we'll be waiting for you", my mother always says to me. a)in c) - b) on d) at Task 1.2. Read and write the summary to the given text Stockbroker Investors who want to buy or sell stocks, bonds, or mutual fund shares cannot actually trade in those items. They must work through registered traders or brokers, who set the complicated market machinery in motion to make a trade. Brokers charge a fee or commission for making trades. Some brokers also advise customers on which stocks to buy or sell. Brokers often help their customers plan an entire financial package that may include securities investments, life insurance, and other investments. Other brokers may offer no services other than making the trade a customer orders. These brokers, called discount brokers, do not offer any advice. However, they do charge less for each trade Brokers can act either for individuals or for institutions. An institutional broker carries out buy and sell orders for insurance companies, pension fund managers, and other organizations that invest millions of dollars. While a college education is not a requirement for a stockbroker, it is becoming increasingly important. An understanding of how the stock market works is also necessary. Courses in business administration, economics, and finance are helpful. Good communications skills and a strong desire to succeed are also important. Most large firms train beginning brokers to help them pass licensing tests. The need for stockbrokers will remain strong because turnover is heavy in this highly competitive field. Task 1.3. Letter writing You saw an advertisement for a tennis course in England but you have one or two problems and can’t stay the whole course. Write a letter to the course director. In your letter,
explain your interest in the course describe your problems find out if a refund is possible Begin your letter as follows: Dear Sir or Madam, Task 1.4. Speaking. “What a Stockbroker Does and How to Become One” Self-study 2 Task 2.1. Fill in the blanks with an appropriate answer 1. If I ... some fish, will you cook it for me? a) will catch c) caught b) catch d) am catching 2. She said that she ... her present flat. She tried to find another one. a) doesn't like c) didn't like b) won't like d) likes 3.1 saw you yesterday from the bus. Where ... you ... at that time?
a) was hurrying c) had hurried b) were hurrying d) did hurry 4.1 found that everything I said on the phone ... to the police. a) report c) was reported b) is reported d) had been reported
a) laughed c) will laugh b) was laughing d) laugh
a) serves c) has been serving b) is serving d) have served
a) try c) will try b) is trying d) are trying
a) was being built c) is built b) is being built d) builds 9. Two terrorists ... in New York some days ago. a) are arrested c) were arrested b) have been arrested d) will be arrested
a) mustn't c) may not b) can't d) shouldn't 11. Diana's parents don't let her go to late-night disco. She ... be at home at 9 o'clock in the evening. a) must c) may b) can d) have to 12. Henry ... apologize for his bad behaviour yesterday. a) have to c) had to b) may d) is to
a) good c) best b) better d) the best
a) more interesting c) most interesting b) the most interesting d) not interesting 15. ... old, ... sick, ... unemployed need our special care. a) - c) the b) an d)everybody
b) a d)those 17. According to this song ... we need is love. a) all c) each b) every d) some 18. We wished the bride and groom happiness in ... new life together. a) there c) theirs b) their d) these 19. Excuse me, but does this umbrella belong ... you? a) to c) at b) for d) with 20. I listened to the radio every day to know the weather forecast but I can never rely ... it. a) at c) in b) to d) on
A market is any place where individuals buy and sell goods and services. There are all kinds of markets in our economic world. All markets, though, have some common economic principles. The price is what you have to pay for something in order to get it. Consumers are the ones who provide the demand for an item. Demand is the amount or quantity of goods and services consumers are willing and able to buy at various prices. Generally, the higher the price, the less consumers will buy of an item. The opposite of this principle also applies: The lower price, the more consumers will buy. At the higher price some consumers will simply decide not to buy. Others will buy less of the item still others may try substitutes. The law of demand states that consumers will generally buy less of an item at a higher price than at a lower price. Producers are influenced to supply goods or services by the prices in the market. The supply is the amount or quantity of goods and services that producers will provide at various prices. Producers must receive a price for their goods and services that will cover their costs and provide a profit in order to stay in business. They look at price as a barometer that tells them how much of a good or service to produce. Producers will generally produce less of an item at a lower price than they will at a higher price. The law of supply states that the higher the price, the more producers will supply; the lower the price, the less they will supply. It should be clear by now that in the marketplace, both consumers and producers follow their own self-interests. Consumers want to get as much as possible at the lowest possible price. And producers want to make as much profit as possible. The price for all goods and services sold are determined through the actions of buyers and sellers. There is a surplus, or oversupply. Evidently the consumer demand is less the amount supplied. The price – at a point where the amount supplied equals the amount demanded – is called the equilibrium price. Equilibrium, then, is the point at which supply and demand meet, or come together. The equilibrium price is the price at which supply and demand meet. Consumers` and producers` activities not only affect price, but those activities are also affected by the price. Changes in the market come about automatically as a result of producers and consumers following their own self-interests.
You have seen an advertisement for a community college that needs teachers for night classes. Write a letter to the community college. In your letter: • say which advertisement you are answering • describe which course(s) you want to teach, and what it/they would be about • explain why you would be a suitable teacher Begin your letter as follows: Dear Sir or Madam, Task 2.4. Speaking. “What are the components of market structure?” Self-study 3 Task 3.1. Fill in the blanks with an appropriate answer 1. It's 11 o'clock so I ... to bed now. a) go c) will go b) am going d) have gone
a) sell c) are sold b) was sold d) won't be sold
b) are invited d) had been invited 4. The baby ... because it is hungry now. a) crying c) cries b) is crying d) cried 5. There ... a lot of people waiting in the station yesterday evening. a) is c) was b) are d) were 6. Some people ... on the benches waiting for their trains. a) was sleeping c) have slept b) were sleeping d) had slept 7. By the time the train arrived, Susan ... to push her way to the front of the crowd. a) managed c) had managed b) has managed d) would manage
a) Did ... see c) Will ... see b) Have ... seen d) Had ... seen 9. Не ... the text before I decided to help him. a) translated c) has translated b) had translated d) will translate 10. It ... in London this morning that the British Oil Corporation had discovered oil under the sea near the Welsh coast. a) announced c) had been announced b) would be announced d) was announced
a) sleep c) will sleep b) will be sleeping d) is sleeping
b) may d) should 13. My ... brother studies at college. a) old c) older b) elder d) the eldest 14. This is ...film I have ever seen. a) good c) worse b) the best d) better 15. ... Hyde Park is a very large park in central London. a) - с) а b) the d) an 16. My friends tell me that professors are people who think a lot, but say ... . a) little c) a few b) few d) some 17. These books cost ... than my friend wants to pay. a) more c) most b) much d) the most 18. He has earned so ... money that he has decided to help the poor. a) much c) little b) many d) few 19. They go to work by car and come home ... foot. a) by c) with b) on d) in 20. The bus from Glasgow arrives ... the Central bus station. a) at c) in b) to d) for Task 3.2. Read and write the summary to the given text Inflation A period of increased sending that causes rapid rises in price is referred to as inflation. This is not necessarily a part of the business cycle. Rather, it is a kind of weakness in an economic system. When your money buys fewer goods so that you get less for the same amount of money as before, inflation is the problem. There is a general rise in the price of goods and services. Your money buys less. Sometimes people describe inflation as a time when "a dollar is not worth a dollar anymore." One major cause of inflation is a rising demand for goods and' services. As people spend more money, their rate of spending may increase faster than the goods and services available. More and more people are willing and able to pay more for the fewer things that are available. As a consequence, the prices keep going up. A second cause of inflation is a rise in the cost of the factors of production. Prices are pushed up by costs. For instance, if the labor cost of producing a good or service goes up, so will the price of the good or service. A third cause of inflation is a lack of competition. If sellers have little or no competition, they are free to set prices as they want. If there is little competition, buyers must buy from businesses that are selling, and they must pay the price asked. Inflation is a problem for all consumers. People who live on a fixed income are hurt the most. Retired people, for instance, cannot count on an increase in income as prices rise. Elderly people who no longer can work face serious problems in stretching their incomes to meet their needs in times of inflation. Retirement income or any fixed income usually does not rise as fast as prices. Even for working people whose incomes are going up, inflation can be a problem. The cost of living goes up, too. People who work must have even more money just to keep up their standard of living. — natural resources, labor, capital goods, and entrepreneurship. All countries must make decisions about how these factors of production will be used to provide goods and services for its people. Let's take another look at these factors of production. Natural resources are all the things like trees water, minerals, and fish that come from the land or the sea. Labor is the work done by people to produce goods and services. Through their work, people change the raw materials taken from the land and the sea. Another factor of production is capital goods, the machines, buildings, and equipment used to produce goods and services and to move them to the consumer. Capital goods are also made by labor. Entrepreneurship is provided by individuals who are willing to take the risk of starting and managing businesses. The wants people have for goods and services are unlimited. However, each country has a limited amount of resources from which to provide goods and services. Suppose you live in a country in which everyone does what his or her mother or father does. If your father is a farmer, you become a farmer. If your mother weaves baskets, you weave baskets. An economic system in which people do things the way they have always done them is called a traditional system. The same tools and methods used by parents and grandparents are used by people today. Most traditional economic systems have found it hard to grow. They fall behind other countries. They use their resources as they always have because they value their traditional ways of living. New methods and products are not accepted, so the system does not grow. Sometimes the government of a country — and the government alone — gives the answers to what kind of economic system the country will have. The government owns the resources and employs the workers. It decides what workers will do, what goods and services they will produce, how much will be produced, and what income they will receive. This type of economic system is called a command system. In a command system, the government decides what will be produced. In a command economy, a central planning committee sets the goals. The committee may also decide who will use the goods and services. In many command economies, consumer goods and services rank low on the priority list. A market system is an economic system in which the interaction between buyers and sellers determines what is bought and sold. In a market system the questions are answered through the market, which is made up of all individuals' buying and selling decisions put together. The market is not a place; it is a concept. In a market system, the consumer is all-important. Every time a consumer buys a product, he or she is telling the market to supply more of that product. Interaction of consumers and producers is what makes a market system work. However, everyone has certain needs such as food, clothing, and shelter that must be satisfied. The economic system that does the best job of satisfying those needs obviously is the most successful. No economic system is perfect… Most economic systems in the world today are mixed systems. Mixed systems combine some parts of other systems. They may be a mixture of traditional, command, and market economic systems. Task 3.3. Letter writing You are interested in attending a language course in England next summer. You have seen the advertisement below. You have also talked to your English teacher and she has suggested some things that you should check before you register. Write to the language school, asking for information about the points mentioned by your teacher, and anything else that you think is important. It’s a great idea for you to do a language course in England. Be careful to choose a good school. When you write, ask about these things: - Student numbers, ages - Details of sports program, etc - Local facilities - Teachers’ facilities
1.1 found my lost pen while I ... for my pencil sharpener. a) look c) was looking b) looked d) am looking 2. When my friend studied abroad, his parents ... him every week. a) phone c) had phoned b) was phoning d) phoned
a) lose c) had lost b) lost d) has lost
b) will go d) would go 5. The man ... by the police yesterday, but he denies robbing the bank. a) arrest c)is arrested b) was arrested d) had been arrested 6. It's raining, but if you take your umbrella, you ... wet. a) don't get c) won't get b) didn't get d) doesn't get
a) repaired c) was repaired b) was being repaired d) had been repaired 8. Cars are fast and convenient. On the other hand they ... problems in cities. a) cause c) has caused b) caused d) will cause 9. When I ... up yesterday, I was told this good news. a) wake c) woken b) woke d) has woken 10. We ... come to your party, but it depends on our finding a babysitter. a) may c) has to b) couldn't d) mustn't 11. Our teacher is a reliable person, we ... trust everything to her. a) shouldn't c) is able b) can d) must 12. I'll feel ... when my exams are over. a) happy c) more happily b) happily d) happiest 13. I felt ... because I had fever. a) badly c) worse b) bad d) the worst 14. Have you ever seen a film at ... Embassy cinema? a) - c) an b)a d)the 15. I don't like to have ... animals in my flat. a)the c) an b) — d) some 16. Excuse me, could you move. I can't see ... . a) something c) nothing b) anything d) none 17. ... is at home and no one knows where they are. a) Anybody c) Everybody b) Somebody d) Nobody
a) in c) at b) on d) with
a) to c) for b)in d)on
a) mouse c) the mice b) mice d) a mouse Task 4.2. Read and write the summary to the given text A Private enterprise economy The United States has a private enterprise economy. We also call it a free enterprise system, or simple capitalism. Individuals - not the government - are primarily responsible for running it. And it's an enterprise or undertaking. So a private enterprise economic system is a kind of "people-run" undertaking a people-run economy. Most goods and services are produced by business firms. People own those business firms, as well as land, houses, and all kinds of property. We regard it as a right to have private ownership and to run our own businesses. Free enterprise is another term used to describe this economic system. You are free to buy-whatever you want as long as you have the money to pay for it, it is legal, and it is available! You are free to work where you want, or to start your own business. If you do start a business, you are free to produce any legal goods and services. There is a need for a great deal of capital, the money or other material wealth needed to run businesses. Private enterprise, free enterprise, and capitalism all describe the economic system. Some other features of the private enterprise system include an emphasis on consumer goods, freedom of choice, high productivity, the profit motive, and competition. Consumer goods - the products that all of us want or need. Natural resource will not last forever. Many of them cannot be renewed, cannot be re-created. We have to plan, we have to conserve, and we have to use natural recourses carefully. Using capital goods makes it possible for businesses to make the products we want much faster and more efficiently. It is a system in which there is much freedom for the consumer to choose goods and services and much freedom for the worker to start and run businesses. Anyone can start a business. There is no guarantee that the business will be a success, but the opportunity to start one is provided. We have the freedom of choice to produce almost anything we like. There are a few exceptions to that freedom, of course. None of us can freely buy anything that is not legal. Basically, though, we have the freedom of choice to produce, buy, and sell what we like. People are the most important resource in our private enterprise system. Natural resources and machinery are important, but they cannot meet our needs if we do not have people, too. Because of their skill and technology, our workers produce more in less time. The rate at which goods and services are produced is called productivity. If a business produces goods and services, it expects to be paid for them. Profit is the amount of money left over after a business has paid for the cost of producing its goods or services. The profit motive is the intention to still have something left after paying the costs of making a product. Profit is the reason a person takes the risk of starting a business. It is the reward for taking that risk. The concept of profit is an energizing force in our economy. It encourages people to develop new products and services in the hope of making a profit. The contest to win customers, competition, is another feature of economic system. Competition is one of the important features of the free enterprise system. Because of competition, businesses are forced to be efficient and to keep their prices low. Competition certainly helps the consumer. If consumers have choices about where to buy, they often choose the firm with the lowest prices for the highest quality of goods and services. Download 60.22 Kb. Do'stlaringiz bilan baham: 
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