6. Express your attitude towards the following proverbs and sayings:

• “A bargain is a bargain”;

• “Business before pleasure”.

TERM I

Variant IV

1. Match the terms in column a with its definitions in column b:

A	B
economic system	An economic system that allocates scarce resources according to custom.
traditional economy	Place where buyers and sellers come together to conduct transactions.
command economy	An economic system in which major decisions concerning the allocation of resources are made by agencies of the government.
business	An economy in which the What, How and For whom questions concerning resource allocation are primarily determined by supply and demand in markets.
consumer	The approach a country uses to deal with scarcity and achieve its economic goals.
competition	The production, distribution, and sale of goods and services for a profit.
market	An economy in which some decisions about the allocation of resources are made by private firms and households and some by the government.
profit	The rivalry among buyers and sellers in the purchase of resources and products.
marker economy	A person who buys and uses goods or services.
mixed economy	The difference between revenues and operation costs incurred by a business.

2. Replace the underlined words by synonyms

• significant faults;

• a range of products;

• whilst others are used in response to the demands of consumers;

• to run businesses;

• private ownership.

3. These pairs of words often cause problems. Choose the correct alternative for each:

   1. ECONOMICAL/ECONOMIC

1. We sometimes call a person’s work his ___ activity.

2. People should be very ___ with the money they earn.

2. ECONOMICALLY/ECONOMY/ECONOMIC

   1. The ___ system of a country is usually called the national ___.

   2. The people in that town live very ___.

3. PRODUCT/ PRODUCE

   1. The company ___ a new ___ every year.

   2. The company’s newest ___ is a high-speed computer.

3. Suggest Ukrainian equivalents:

• to match supply and demand;

• government spending;

• to cut profit margins substantially;

• to cut expenditure on luxury items;

• to cut across the large number of subject groupings cited about;

• products which are favoured.

5. A) Read and translate the text in a written form:

PACKING AND MARKETING

Packing goods for export is a highly specialized job. If the goods are improperly packed and marked, the carrier will refuse to accept them, or will make qualifications about the unsatisfactory condition of packing in the Bill of Loading.

Packing can be external and internal in which the goods are sold. In case of consumer goods packing has a double function. On the one hand, it is for protection. On the other – it serves to advertise a product and attract a customer. Marking should be in indelible paint with recognized kind of marks.

Extract from a contract.

1. The packing is to secure full safety of the goods from any kind of damage and corrosion during transportation by sea, railway and combined transport. The packing shall be suitable for loading by crane, by autocars, by trucks and manually in case the weight and volume of individual packages allow.

2. Before packing, the equipment is to be protected with anticorrosive coating to protect it from any damage and corrosion in transit and to ensure storage during hot summer and cold winter.

b) Answer the following questions:

1. What will the carrier do if the goods are improperly packed and marked?

2. What function does packing have in case of consumer goods?

3. Who will be responsible for any damage of the goods that may be caused by poor packing?