Федеральное

государственное образовательное бюджетное

учреждение высшего образования
“ФИНАНСОВЫЙ УНИВЕРСИТЕТ
ПРИ ПРАВИТЕЛЬСТВЕ РОССИЙСКОЙ ФЕДЕРАЦИИ”

ДЕПАРТАМЕНТ ЯЗЫКОВОЙ ПОДГОТОВКИ

Г.А. ДУБИНИНА, И.Ф. ДРАЧИНСКАЯ,

Н.Г. КОНДРАХИНА, О.Н. ПЕТРОВА

АНГЛИЙСКИЙ ЯЗЫК:
ЭКОНОМИКА И ФИНАНСЫ
Ч а с т ь 1

THRESHOLD
УЧЕБНИК
5‐е издание, исправленное и дополненное

Москва  2016
УДК 81(075.8)=111
ББК 81.2 Англ.
Д79

Р е ц е н з е н т ы:

доктор филологических наук, профессор Т.Д. Венедиктова

(МГУ им. М.В. Ломоносова)
кандидат филологических наук, доцент И.И. Воронцова
(Российский гуманитарный университет)
доктор экономических наук, профессор Н.Н. Котляров
(Финансовый университет)


Дубинина Г.А., Драчинская И.Ф., Кондрахина Н.Г., Петрова О.Н.
Д79 Английский язык: Экономика и финансы: учебник: в 4 ч. /
Г.А. Дубинина, И.Ф. Драчинская, Н.Г. Кондрахина, О.Н. Петрова. ‒
М.: Финансовый университет, 2016.
ISBN 978‐5‐7942‐1363‐8
Ч. 1: Threshold. ‒ 5‐е изд., испр. и доп. ‒ 256 с.
ISBN 978‐5‐7942‐1361‐4


“Threshold” ‒ первая часть серии учебников для студентов
финансово‐экономического профиля. Тематика учебника
связана с ключевыми экономическими понятиями и осно‐
вами экономической деятельности. Все разделы снабжены
грамматическими упражнениями, ролевыми играми и преду‐
сматривают использование мультимедийных технологий.

УДК 81(075.8)=111
ББК 81.2 Англ.




ISBN 978‐5‐7942‐1361‐4 (ч. 1) © Г.А. Дубинина, И.Ф. Драчинская,
ISBN 978‐5‐7942‐1363‐8 Н.Г. Кондрахина, О.Н. Петрова, 2016
© Финансовый университет, 2016
‒ 2 ‒
Federal State – Funded Educational Institution of Higher Education
“FINANCIAL UNIVERSITY UNDER THE GOVERNMENT
OF THE RUSSIAN FEDERATION”

THE DEPARTMENT OF FOREIGN LANGUAGES

GALINA A. DUBININA, IRINA F. DRACHINSKAYA,

NATALIA G. KONDRAKHINA, OXANA N. PETROVA

ENGLISH:
ECONOMICS & FINANCE
Part 1

THRESHOLD
TEXTBOOK

Fifth edition, revised and enlarged

Moscow  2016

‒ 3 ‒
UDC 81(075.8)=111

R e v i e w e r s :

Professor, DSc. (Philology) Tatiana D. Venedictova

(Moscow State University)
Associate Professor, PhD. (Philology) Irina I. Vorontsova
(Russian Humanitarian University)
Professor, DSc. (Economics) Nikolai N. Kotlyarov
(Financial University)


Galina А. Dubinina, Irina F. Drachinskaya,
Natalia G. Kondrakhina, Oxana N. Petrova
English: Economics & Finance: textbook: in 4 p. / Galina А.
Dubinina, Irina F. Drachinskaya, Natalia G. Kondrakhina, Oxana N.
Petrova. ‒ M.: Financial University, 2016.
ISBN 978‐5‐7942‐1363‐8
P. 1: Threshold. ‒ 5th ed., revised and enlarged. ‒ 256 p.
ISBN 978‐5‐7942‐1361‐4

Threshold is the first part of a series of English language

textbooks and is designed to begin English Language study for the
students of Economics and Finance. The textbook focuses on the
basic economic problems: goods and services; supply and demand;
opportunity costs and tradeoffs, utility and prices. Structure of the
textbook involves the use of such innovative foreign language
technologies as case analysis, cross‐cultural analysis, role playing,
multimedia presentations, the Internet research.
UDC 81(075.8)=111




ISBN 978‐5‐7942‐1361‐4 (р. 1) © Galina A. Dubinina, Irina F.
ISBN 978‐5‐7942‐1363‐8 Drachinskaya, Natalia G. Kondrakhina,
Oxana N. Petrova, 2016
© Financial University, 2016
‒ 4 ‒
 ВВЕДЕНИЕ

“Английский язык: экономика и финансы” ‒ это серия учебников,

целью которых является углубление и расширение языковых и
экстралингвистических знаний студентов в пределах тематики, пре‐
дусмотренной базовой частью дисциплины “Иностранный язык” для
бакалавров финансово‐экономического профиля.
Каждый из четырех разделов “Threshold”1, первого тома серии
учебников, рассчитан на шесть‐восемь аудиторных занятий и может
быть дополнен тестами текущего контроля и аудиоматериалами.
Материалы учебника содержат тексты, тематически связанные с
ключевыми экономическими понятиями, категориями и основами эко‐
номической деятельности, включая тенденции современной рыноч‐
ной экономики.
Разделы учебника имеют единую структуру:
 Lead‐in – вступительная часть.
 Language Input – словарь урока с примерами и переводом.
 Background Information – профессионально ориентированный
текст, дающий представление о проблематике одного из сегмен‐
тов финансово‐экономической сферы.
 Comprehension – упражнения, способствующие точному понима‐
нию текста и оснащенные речевыми формулами.
 Practice – упражнения, направленные на совершенствование
умения строить устную и письменную речь на английском языке
по тематике раздела, включая публичное выступление с исполь‐
зованием новейших информационных технологий.
 Dialogue – профессионально ориентированные диалоги по тема‐
тике раздела, предназначенные для развития дискурсивной ком‐
петенции, навыков ведения диалога и расширения терминологи‐
ческой базы.
 Reading for Cross‐cultural Associations – тексты о межкультурных
особенностях взаимодействия в финансово‐экономической сфере.
 Role‐play – ролевая игра по тематике, соответствующей учебно‐
познавательной и социально‐культурной направленности раздела.
 Grammar Back up – грамматические упражнения и комментарий
(существительное, артикль, прилагательное, наречие, система
времен глагола) на лексической основе материалов учебника.
Все разделы содержат задания, связанные с социологическим
анализом и предусматривающие интернет‐поиск.
1 Преддверие, отправной пункт, канун, начало.

‒ 5 ‒
 1  THRESHOLD OF ECONOMICS

Contents
1.1 Lead-in Section overview
1.2 Language Input Developing vocabulary
1.3 Background Information1 Economic Activity
1.4 Comprehension Understanding the reading
Reviewing the concept
1.5 Speaking & Writing
Language focus Saying numbers
Presenting information Summarising & Writing Essays
Communication skills Introducing people
1.6 Dialogue Oh, these expenses!
1.7 Reading for Cross-cultural
Associations Pocket money
1.8 Role-play Consumer skills: Making a
personal budget
1.9 Grammar Back Up Practice with Nouns & their
Determiners:
Nouns
Articles
Demonstratives
Other Determiners
Practice with Subjects
1 Исходная информация.

‒ 6 ‒
1.1 LEAD-IN
SECTION OVERVIEW
Your grandparents probably never attended a class called
economics. Yet, they had to think about how to meet their needs for
goods and services. Today’s world is more complex. A knowledge of
economics, the study of how people and countries use their resources
to produce, distribute, and consume goods and services, is important
to everyone now. Your understanding of economics will influence
how you earn a living and help you make better economic decisions.

Discuss the following questions, make use of the prompts in

brackets:
1. When did you make the first economic discoveries?
(to want, to have, to buy, to sell things; children, young people,
adults)
2. Why do the economic problems arise?
(unlimited wants and needs, to be limited, goods, services, to
have enough money, to earn)

1.2 LANGUAGE INPUT

allocate v распределять, ассигновать,
отчислять
One of the major economic Вопрос о том, как страна или
questions is how the nation or отдельный человек распреде-
individual will allocate лит ресурсы, является одним
resources. из важнейших экономичес-
ких вопросов.
allowance n денежное пособие, денежная
помощь, содержание
A university student at Oxford Студенту Оксфордского уни-
needs an allowance of at least верситета необходимо полу-
£250 a year. чать на расходы по крайней
мере 250 фунтов в год.
chart n схема, таблица, карта, график
consume v потреблять, расходовать
‒ 7 ‒
 consumer n, adj потребитель, потребительский
In the role of a consumer Выступая в роли
a person buys goods and services потребителя, человек
for personal use. покупает товары и услуги
для личного потребления.
Some consumer goods do not last Некоторые потребительские
a long time. товары недолговечны.
demand n спрос, требование
A demand for foodstuffs Спрос на продукты питания
is great. очень большой.
demand v требовать, нуждаться
The task demands skill Для выполнения этого задания
and thought. нужна сноровка и его нужно
обдумать.
develop v развивать, разрабатывать,
создавать
Complete the chart to help you Заполните таблицу, чтобы
develop useful budget. помочь себе разработать
пригодный бюджет.
earn v зарабатывать, получать доход,
to earn one’s living (by smth) зарабатывать (чем-либо) себе
на жизнь
He earns his living by selling Он зарабатывает на жизнь,
consumer goods. продавая товары широкого
потребления.
expense n расход, трата
I don’t want the expense of Я не хочу тратиться на эту
buying it. покупку.
expenses n расходы, издержки
I can’t increase my monthly Я не могу увеличить свои
expenses. ежемесячные расходы.

goods n товар, товары, изделия

consumer goods потребительские товары,
товары широкого
After the war there were потребления
shortages После войны не хватало
of food and consumer goods. продуктов и потребительских
товаров.
‒ 8 ‒
 capital goods средства производства,
товары производственного
назначения, инвестиционные
средства, основные средства
Capital goods are goods that are Средства производства – это
used to produce other items. то, с помощью чего произво-
дятся другие товары.
perishable goods скоропортящиеся товары
Perishable goods cannot be stored Скоропортящиеся товары
for any length of time without нельзя хранить как угодно
going bad. долго, так как они портятся.
income n доход, приход, поступление
need n надобность, нужда, нехватка;
потребность
to meet needs удовлетворять потребности
People have to think how to meet Людям приходится думать, как
needs for goods and services. удовлетворить потребности в
товарах и услугах.
produce n продукция, результат
produce v производить, вырабатывать
The company can produce only Компания может производить
products for which it has the только ту продукцию, для
right kind of resources. которой у нее есть
соответствующие ресурсы.
producer n производитель
provide v снабжать, обеспечивать,
предоставлять
A producer makes goods or Производитель производит
provides services that consumers товары или предоставляет
use. услуги, которые используют
потребители.
reduce v сокращать, уменьшать,
снижать
To reduce expenses one should Чтобы сократить расходы,
make changes in his budget. нужно внести изменения в
свой бюджет.
ant. increase v ант. увеличивать(ся),
возрастать
record n запись, регистрация, учет
Keep record of your actual Ведите учет (записывайте)
income and expenses for a ваших фактических доходов
month. и расходов в течение месяца.
‒ 9 ‒
record v
Record how much you have to
spend for food, entertainment,
clothing, college supplies, personal
care, transportation, and
miscellaneous items.
satisfy v
satisfy wants
satisfaction n
serve v
service n
settle v
That settles the matter.
settle into something
People settle into two major
economic roles: consumer and
producer.
supply n
No economy has an unlimited
supply of resources.
supply v
scarcity n
Scarcity sometimes results from
a rapid increase in demand.
‒ 10 ‒
записывать, регистрировать
Запишите, сколько вам
приходится тратить на еду,
развлечения, одежду, учебные
принадлежности, уход за
собой, транспорт и прочие
мелочи.
удовлетворять,
соответствовать
удовлетворять
потребности
удовлетворение
служить, обслуживать
услуга, обслуживание,
сфера деятельности
решать, договариваться,
устраивать(ся)
Это решает вопрос.
принимать какую-либо
форму, приобретать какое-
либо качество,
обосновать(ся)
Люди выступают в одной
из двух главных экономи-
ческих ролей: потребителя
или производителя.
поставка, снабжение;
предложение (товара)
Ни одна экономика не
снабжается ресурсами
бесконечно.
снабжать
нехватка, дефицит,
дороговизна
Дефицит иногда возникает
из-за резкого увеличения
спроса.
 DEVELOPING VOCABULARY

1.2.1 Consult a dictionary, write out the transcription and practise

the pronunciation of the following words:
a record
adjust
allowance
circumstances
commercials
consumer
determine
distribute
economic
economics
economist
finite products
income
infinite needs
item
necessity
optional
rely
require
resources
satisfy
scarcity
supply
the produce
to produce
to record
tuition
typical

‒ 11 ‒
1.2.2 Match the English word combinations in the left-hand сolumn
with the Russian equivalents in the right-hand column.
1. to consume miscellaneous
items
2. to reduce expenses
3. capital goods
4. to record the expense of
college supplies
5. to provide the produce
6. to keep record of the supply
7. to allocate part of the income
for
8. to figure out the expense
9. perishable goods
10. an item on the chart
11. to settle the problem
12. scarcity of resources
13. consumer goods
14. to meet needs for goods and
services
15. to reduce flexible expenses
16. to go bad
17. to supply something for resale
18. to allocate allowance
19. to increase the demand for
something
20. optional expenses
21. to adjust the budget
22. tuition
23. to be used up
24. to produce something for
personal use
25. to earn one’s living by
something
‒ 12 ‒
a. увеличить спрос на
что-либо
b. решить, урегулировать
проблему
c. отчислять часть дохода на
d. удовлетворять потребность в
товарах и услугах
e. недостаток ресурсов
f. портиться
g. распределять денежное
пособие (льготы, деньги на
содержание)
h. обучение; плата за обучение
i. снизить эластичные расходы
j. вести учет поставок
k. зарабатывать себе на жизнь
чем-либо
l. потреблять разные товары
m. быть изношенным
n. средства производства,
основные средства
o. снабжать продукцией
p. подсчитывать расходы
q. уменьшать расходы
r. корректировать бюджет
s. поставлять что-либо для
перепродажи
t. производить что-либо для
личного потребления
u. необязательные,
дополнительные расходы
v. пункт, статья таблицы
w. потребительские товары
x. записывать (вести учет) траты
на учебные принадлежности
y. скоропортящиеся
товары
1.3 BACKGROUND INFORMATION
ECONOMIC ACTIVITY

Your grandparents probably never attended a class called

economics. Yet, they had to think about how to meet their needs for
goods and services. Today’s world is more complex. A knowledge of
economics, the study of how people and countries use their resources
to produce, distribute, and consume goods and services, is
important to everyone now. Your understanding of economics will
influence how you earn a living and help you make better economic
decisions.
Even before people start school, they make two very important
economic discoveries. They find that there are lots of things in the
world they want. They also find that they cannot have them all.
There is a big gap between what they want and what they can have.
Later, young people learn another lesson. When they watch
television commercials, they discover that there are thousands of
things they or their parents could buy. Gradually, they settle into two
major economic roles: consumer and producer. In the role of
consumer, a person buys goods and services for personal use, not
for resale.
Consumer goods are products, such as food, clothing, and cars,
that satisfy people’s economic needs or wants. Some consumer
goods, such as food, do not last a long time. Other goods, such as
furniture, cars or computers, last longer. Sooner or later, though,
consumer goods are used up. Bananas are a typical example of
perishable goods, by “perishable” we mean goods which cannot be
stored for any length of time without going bad. Most foodstuffs are
in the perishable category.
Services are actions, such as haircutting, cleaning or teaching.
Services are used up at the time they are provided.
‒ 13 ‒
 A producer makes the goods or provides the services that
consumers use. A person who makes lemonade and then sells it is
producing goods. A person who shovels snow during the winter or
clerks in a store is providing a service. Students working after
school or during the summer earn money to buy some of the things
they want – books, computers, different gadgets, or a car. They are
learning about the role of the producer.
In order to produce something, however, a person must first have
right resources. Resources are the materials from which goods and
services are made. There are different kinds of resources: human
(people), natural (raw materials), and capital resources (capital, or
the money or property). If any of these resources is missing,
production will stop.
The economy as a whole, like an individual, can produce only
products for which it has the right kind of resources. No economy
can produce the things people want if it doesn’t have enough of the
right kinds of resources. And no economy has an unlimited supply
of resources. In other words, there is a scarcity of resources.
Scarcity is the situation that exists when demand for a good, service,
or resource is greater than supply. Human wants tend to be
unlimited, but human, natural, and capital resources are,
unfortunately, limited.
Every group of people, individuals and nations must solve basic
economic problems of daily living: What goods and services will be
produced? How will they be produced? Who will get them? How
much will be produced for now and how much for the future? The
answers to the questions depend on a country’s human, natural, and
capital resources, and also on its customs and values. Each country
will answer these questions in a different way.

‒ 14 ‒
1.4 COMPREHENSION
UNDERSTANDING THE READING
1.4.1 Give extensive answers to the questions. Use the following
expressions to start your answers:
In my opinion… As I see it…
From my point of view… It would seem to me that…
Personally, I think that… As far as I am able to judge…

1. What do young people discover while watching television

commercials? What economic roles do they settle into?
2. What can be said to prove that wants and needs are satisfied
through the consumption (use) of goods and services?
3. How to distinguish between goods and services?
4. What evidence suggests that human wants and needs are infinite
(unlimited) while our resources are finite (limited)?
5. What is the major difference between the roles of a consumer and
a producer?
6. What are the categories in which consumer goods can be
divided?
7. In what way is scarcity related to different types of resources?
8. What are the basic economic questions facing both nations and
individuals?
9. Is there a difference between how the government and how the
customers answer basic economic questions?
10. What is the basic service your educational institution provides
you and your community with? How does it answer each of the
four basic economic questions?

‒ 15 ‒
 REVIEWING THE CONCEPT

1.4.2 Say whether these statements are true (T) or false (F), and
why.
e.g.1 In my opinion it is true that... .
I’m afraid it is false that ... because... .

TF 1. People get acquainted with economics when they are still

very young.

TF 2. People make important economic discoveries only when

they are old.

TF 3. There is no gap between what people want and what they

can have.

TF 4. In the economy people perform a single role, the role of a

consumer.

TF 5. In the role of a consumer a person makes the goods or

provides the services.

TF 6. Consumer goods are products that satisfy people’s economic

needs or wants.

TF 7. All consumer goods last long.

TF 8. Most foodstuffs are in the perishable category.

TF 9. Students working after school or during the summer to

earn money are learning about the role of a producer.

T F 10. Outputs (goods and services) are produced from inputs

(resources) sometimes called factors of production. These
factors are land, labour and capital.

1 От exempli gratia (лат): “ради примера”, “например”.

‒ 16 ‒
1.5 SPEAKING & WRITING

Language focus
1.5.1 Saying or writing out numbers
In finance, whether it is accountancy, banking, broking,
investment, insurance, or whatever, one spends a lot of time dealing
with numbers.

a. The spoken form of 0 is nought (AmE zero) or oh. Mind that the
British say:

oh after a decimal point 11.059 eleven point oh five

nine
in telephone numbers 82 01 63 eight two oh one six
three
in bus numbers bus 104 I came by bus one oh
four.
in hotel room room 601 Where is room six oh
numbers one?
in years 1906 nineteen oh six
2009 twenty oh nin
in the 24 hour clock 09.03 nine oh three hours
nought before the decimal 0.09 nought point oh nine
point .07 point nought seven
zero for the number 0 the number zero
for temperature –5ºC five degrees below
zero
nil/nothing in football scores 2–0 France won two nil.
love in tennis 15–0 The score is fifteen
love.
‒ 17 ‒
b. Telephone numbers are written with gaps between each group of
numbers, not usually with dashes or full stops.
0 273 736344 oh two seven three, seven three six, three four four
344 can also be said as three double four
44 26 77 double four, two six, double seven
777 can be said as seven double seven, or seven seven
seven
c. Say the following:
1. The patient was born in 1908 and died in 2001.
2. I think the phone number is 187 02 06.
3. Room 1004 is on the tenth floor.
4. Why not go for a walk? It’s only 10 degrees below 0!
5. What’s the score? 3-0 to Real.
6. Mr. Ross is on the other line at the moment. Please call him on
8 910 300 55 80?
7. Today’s rate is 0.0357.
8. Have you got a pen? Their fax number is: 00 33 567 32 49.
9. Call me on 400 22 36 at 2.30 p.m.
10. Becker leads by 2-0.
d. What are these numbers in figures? Write them.
1. One million seven hundred and fifty four thousand three hundred
and twenty one.
2. Seventeen hundred and ninety five.
3. One billion.
4. Three point oh six six.
5. Ninety two.
6. Three thousand four hundred and two.
7. One hundred and ninety nine point nine.
8. Point nought two.
9. One point six.
10. Three-double oh-double five-seven-one.
11. Oh two three double six, five three seven, nine one eight
12. Two thousand and twelve
13. Nought point oh four five two
‒ 18 ‒
e. Use the model dialogue and messages taken by the secretary
from the boxes on the left and on the right to produce your own
telephone conversations.

To: Jock Williams Model Dialogue: To: Ms Langley

(away on business) (working at the back
From: Tom Cruise A. Hello! office)
Tel.: 668 34 34 B. Hello! George From: New World
Date: 12/04 Duncan speaking. Ltd. – Mr Kranz
Time: 12.20 p.m. Could I talk to Jock, Tel: 136 58 00
Message: Mr Cruise is ill please? Date: 2/10
and can’t go to the meeting. A. Hold the line please. Time: 10.15 a.m.
B. OK. Message: Leave your
A. I think he is at the fax number.
Board meeting.
To: T. Blake B. Could you take a To: Paula Swan
(in conference at the message? (on a leave)
moment) A. With pleasure. From: Scorpio
From: Mrs Blake B. Would you ask him Corp. ‒ Ms Fox
Tel.: 8 910 128 3344 to ring me when he gets Tel.: 8 926 456 8642
Date: 14/05 back? Date:23/10
Time: 13.42 p.m. A. Certainly. What’s Time: 17.45 p.m.
Message: Mrs Blake’s your number? Message: Would like
plane arrives at six o’clock. B. Two-double five- to see you.
seven-oh-nine.
A. Pardon, what’s the
To: Mrs Hudson To: Sales Manager
last figure?
(abroad & won’t be back From: Duncan
B. Nine.
until Monday) Enterprises Ltd. – Paul
A. Nine ... yes. Two-
From: Barklays Bank – Morgan
double five-seven-oh-
Mr Burton 8 916 528 38 88
nine.
Tel.: 278 30 08 Date: 2/12
B. Right. Thanks.
Date: 12/09 Time: 10.02 a.m.
A. You’re welcome.
Time: 3.45 p.m Message: Urgent: the
Message: Contact as soon desks have not been
as possible. delivered. Please ring
back.

‒ 19 ‒
WATCH OUT: translator's “false friends”
allowance grant scholarship stipend
1.5.2 a. Look up the dictionary to find the difference between the
words stipend, grant, allowance, scholarship. Match the
words with their meanings.
1. stipend A money that is given to someone, usually on a
regular basis, in order to help them pay for the
things that they need
2. grant B a grant or payment made to support a student's
education, awarded on the basis of academic or
other achievement
3. allowance C an amount of money that a government or other
institution gives to an individual or to an
organization for a particular purpose such as
education or home improvements
4. scholarship D a fixed regular sum paid as a salary or as expenses
to a clergyman, teacher, or public official

b. Fill in the blanks with stipend, grant, allowance or

scholarship.
1. They’ve got a special … to encourage research.
2. Claudia lives on a single parent's … of ₤70 a week.
3. She gets an … for looking after Lillian.
4. If teenagers are given a clothing …, they must buy their clothes
themselves.
5. If you get a … to a school or university, your studies are paid for
by the school or university or by some other organization on a
regular basis.
6. Teacher Alfred spends about a quarter of his … on rent.
7. We received a target … for research on human resources.
8. A … is a sum of money that is paid regularly, especially to a
magistrate1 or a member of the clergy, as a salary or for their
living expenses.
1 1) судья, мировой судья; 2) должностное лицо.

‒ 20 ‒
Presenting information
1.5.3 A. Think about economic goods and services, different
kinds of resources and the importance of scarcity. Write a
100-word abstract to cover the contents of the text
“Economic Activity”. Arrange the abstract with the topic
sentence, several developers and a restatement. Use the
following helpful phrases:
Topic sentence:
First of all, I’d like to focus Прежде всего хотелось бы
on ... остановиться на ...
The major point is ... Основной вопрос ...
Developers:
Let’s go point by point ... Давайте обсудим пункт за
пунктом …
First comes ... Прежде всего начнем с ...
In view of the above ... Ввиду вышеизложенного ...
We can now look at ... Теперь мы можем обсудить...
Restatement:
Now it is obvious that ... Теперь ясно, что ...
So, to make a long story Итак, если кратко изложить
short ... суть ...
B. Supply your abstract with the slides and make a 3-minute
Power Point presentation.
C. Comment on the presentations made by the students.
Make use of the following word combinations:
(Not) to be up to the mark (не) быть на хорошем уровне
To be quite at home in the Хорошо владеть предметом
subject
To be concise and to the point Быть кратким и точным по
сути
To be well-structured Быть хорошо спланированным
To have a good (poor) command Хорошо (неважно) владеть
of the language языком
All in all, my impression is ... В целом мое впечатление ...
‒ 21 ‒
Communication skills 
What to say and how to behave: Introducing people
1.5.4 Task 1. Read and memorize the following formulas of
etiquette.
Different countries have different ideas about what good behaviour
and good manners are. It’s really important to learn a little about
what to do and what not to do in a foreign country.
Greetings1 Replies
(I am) very well, thank you. And how are you?
(I am) fine, thanks. And you?
Hello, how are you? (I’m afraid) not so well, thank you. And you?
So-so. How about you?
More or less all right. And how are you?
Good morning. Good morning.
Good afternoon. Good afternoon.
Good evening. Good evening.
Hello (hullo, hallo)! Hello (hullo, hallo)! Nice to see you!
Hi! (coll.) Hi!
You should remember a few useful rules of introduction:
 men are usually introduced to women;
 young people to older ones;
 old friends to newcomers;
 a young girl to a married woman.
Socially women are never presented to a man unless he is a member
of the Royal family or he is the Head of State.
The simplest form of introduction is the pronouncing of the two
names:
Man to man Man to woman
(you should give her name first)
“Mr. Brown. Mr. Smith.” “Miss Stanley. Mr. White.”
“Mr. Brown, this is Mr. “Miss Stanley, this is John White.”
Smith.”

1 “How do you do?” is now only occasionally used in formal introductions, such
usage is old‐fashioned and not recommended.
‒ 22 ‒
The more formal forms of introduction are:
Man to man (Man to woman)
“Mr. Brown (Miss Stanley), may I introduce Mr. Smith?”
“Mr. Brown (Miss Stanley), I’d like you to meet Mr. Smith.”
The most formal form of introduction is:
“Mr. Brown (Miss Stanley), may I present Mr. White?”
(… allow me to present …)
The conversational forms of introduction are:
“Mr. Brown, have you met Mr. Smith?”
“Mr. Brown, do you know Mr. Smith?”
Usually when introducing you say something like: “Mrs. Hewitt,
may I introduce Mr. Archer?” Then you turn to Mr. Archer and simply
say: “Mrs. Hewitt.” That is all that is necessary, but you may add: “Mr.
Archer has just returned from London.” You may provide some other
bit of information to give the introduced people a chance to start a
conversation.
When you are introduced to people you may say: “How do you
do?”, “I am glad to meet you”, “Happy to meet you”, “Pleased to meet
you”, “Hello”. Moreover, it’s very polite to mention the name of the
person introduced: “I am very glad to meet you, Mr. Taylor.” If you
don’t remember the name you may simply ask “What was your name,
please?” or “Could you kindly repeat (give) your name?”
Men always stand when introduced, whereas ladies may remain
seated as a rule.
Mind that handshaking is rather rare in Britain and the USA but it’s
the correct thing to do on the Continent. When an Englishman passes a
friend in the street he usually only touches his hat. An Englishman
doesn’t shake hands when he stops to talk. Remember: the British
occasionally shake hands especially when they are formally introduced.
They don’t shake hands with people they see often, as a rule they just
‒ 23 ‒
smile and say: “Good morning”, “Good afternoon”, “Good evening” in
formal situations and “Hallo” in semi-formal and informal style. But
note that “Good day” is not used nowadays, either as a greeting or
when leaving someone.

Farewells Replies

Good-bye. Good-bye. It’s been nice to meet you.

(Bye.) (Good-bye. It’s been nice to have met you.)

Good-bye. Happy Good-bye. Hope to see you (again) soon.

to have met you.
You are very kind. (It’s very kind of you, thank you.)

So long! So long! See you later. (Hope to see you soon.)

Be seeing you!

Task 2. You (Student A) are a student on an exchange visit to a

university in Student B’s country. He/she greets you and asks
polite questions. Be ready to introduce yourself.

Task 3. A VIP from another country has arrived for a meeting

with your CEO. You have not met him/her before. You have
to greet him/her. Work in a team. Practise introducing each
other. Make a polite conversation before the CEO arrives.
For example:
How are you enjoying your stay?
Where are you staying?
What are you planning to do during your visit?
How do you find the weather here?

Task 4. You leave for an exchange visit to the US. Practise leave-
taking. Work in a team.
‒ 24 ‒
Task 5. Decide whether the response to each greeting is
appropriate (A) or inappropriate (I). Why?

a) Jack: Hi! I’m Jack.

Philip: Hi there! My name is Green.
b) Bob: It’s a real pleasure to meet you.
Philip: Nice meeting you, too.
c) Luke: How are you doing, Philip?
Philip: Better now. I had a cold the first two days.
d) John: How do you do? I’m John Carstairs from the London
office.
Philip: I’m fine. Thanks. I’m Philip Green.
e) Gloria: Hi, there! Nice meeting you. I’m Gloria. Gloria Sanchez.
Philip: Nice to meet you, too. I’m Philip Green, but please call
me Philip.
f) Linda: How are you?
Philip: So-so, could be worse.

‒ 25 ‒
1.6 DIALOGUE 
a. Complete the dialogue by using the following word combinations
from the box.
b. Be ready to sum up the point of view of each of the
speakers.
(1) college supplies, (2) to develop a useful budget, (3) optional
expenses, (4) miscellaneous items, (5) to adjust the budget, (6) to
allocate part of the income, (7) to figure out the weekly expenses,
(8) to reduce expenses, (9) to keep record
A.: Hello, there. What luck running into you, George!
G.: Hello, old man. What’s up?
A.: Oh, these expenses, ...! I am deeply worried by the problem.
Don’t you think we bought too many ________ last week. I tried
__________, and I’d like to point out that we’ll have _________.
G.: I’m afraid I know next to nothing about the way to use money
effectively.
P.: Fair enough! It’s not wise to spend money that way. But neither
George nor me can keep track of our actual income and
expenses. We want to have so many things and money is so
scarce. Possibly the way out will be to make our personal budget.
G.: Come off it! You can’t be serious! This decision _____________
is a big waste of time for very little money!
P.: I’m not sure I quite agree. When I was in Germany, I noticed
that the Germans _____________ of how much they spend for
food, entertainment, clothing, _____________, personal care,
transportation, etc. It will be impossible for us _____________ if
we do not know what changes to make in the budget.
A.: On balance, we should list all the sources of money and see that
expenses match the income.
P.: Perhaps, but don’t you think that some expenses are set in
advance and must be paid regularly, others change with
circumstances, and, of course, we should _________________ for
_____________, such as entertainment, personal care and so on.
G.: That may well be true. I am bound to agree. Let’s try. In for a
penny, in for a pound1.
1 “Назвался груздем – полезай в кузов”.

‒ 26 ‒
c. Make use of the expressions in italics1, the chart below and
communication skills to imitate the situation in which Paul
gets acquainted with a family from Germany and discusses
their personal budget.

CHART 1
PERSONAL EXPENSE CHART
ITEM PERCENTAGE OF TOTAL EXPENSES
Entertainment 35
Food 29
Clothing 11
College supplies 10
Savings 5
Personal care 4
Transportation 3
Other 3

d. Discuss the following chart in your own dialogues. Make use of

the expressions in italics from the dialogue above.

CHART 2
YOUR MONTHLY BUDGET
Monthly Monthly fixed Monthly flexible Monthly
sources of expenses expenses optional
income expenses
type amount type amount type amount type amount
1.
2.
3.
4.
…
total

1 Выражение, данное курсивом.

‒ 27 ‒
1.7 READING FOR CROSS-CULTURAL
ASSOCIATIONS
Read the excerpt below about the problem of pocket money in
British families. Discuss how it compares with the situation in
Russia. Make use of the information in the role-play.
British parents take money seriously. Children from age of 5 or 6
are normally given weekly “pocket money” – a few pence at first,
increasing as they get older. Pocket money is often related to household
chores. “Now you are old enough to help me, you are old enough to
have some money of your own.” Pocket money is not considered to
be a payment for work, but a right.
Teenage children are often given a clothing allowance; they must
buy their own clothes and budget accordingly. If they spend too
much on a small jacket or a fashionable dress, they will have no
money for shoes. They are being taught “the value of money”.
Children from the age of 13 often take part-time jobs to pay for
electronic gadgets and so forth. Parents, on the one hand like to see
their children being practical and enterprising. On the other hand
they fear that school work will suffer. Teachers do protest that
children are working too hard outside school and falling asleep in
classes.
Meanwhile, the teenagers who go to university and spend several
years as students did not start full-time earning at sixteen, and their
student grants (from 18 to 21) are very small. So although they, too,
want the gargets, they wear much cheaper clothes and depend more
on student allowance. In the vacations they look for part-time jobs,
and because they are intelligent and literate they can find more
skilled, better-paid work, even part-time.
And here is another dilemma for prosperous parents of university
students: should they insist that their children learn to live on their
student grants plus whatever they can earn during the holidays – or
do they give them money to buy the clothes and electronic equipment
they want?
‒ 28 ‒
1.8 ROLE-PLAY  

Consumer skills
MAKING A PERSONAL BUDGET
Situation:
You develop a useful personal budget in order to make choices
and clear out alternatives.

What you must decide:

Find out the way to use money most effectively.

Cast
Student A
Student B
Student C
Student D
Student E
Student F
Student G

Enact the general talk between:

Student A
This is your first year on your own as you have entered a higher
educational institution. You speak to your fellow-lodgers1 because
something should be done with your unlimited wants and limited
resources. You come to the conclusion that you must develop a
useful personal budget. You think that to begin with you should keep
track of your actual income and expenses for a month. You want to
clear out what should be recorded.
1 Сосед по комнате, общежитию и пр.

‒ 29 ‒
Make use of the helpful phrases:
 I’m afraid I know next to nothing about ... .
 Wouldn’t you agree that … ?
 That may well be true ... .
 Surely you’d admit that ... .
 The point is ... .
 On balance ... .

Student B
You agree that you should use your income as effectively as
possible. Choices must be made concerning spending and saving.
You never know whether you can afford another outing1, or a disco,
or a concert. What is more, you do not know if you can afford not to
save. You have learnt from the lecture on economics that money
resources may include allowance, part-time jobs, baby-sitting,
errands, interest on savings. Figure out your sources of income and
find out your interlocutors’ opinions about listing them. You remind
your partners of the chart you completed at your seminar in economics.
You decide to use it. You are enthusiastic about making use of your
knowledge. You also try to focus your partners’ attention on the
difference between fixed, optional and flexible expenses.

Make use of the helpful phrases:

 Don’t you think ... ?
 If you ask me ... .
 Fair enough, ... .
 Perhaps, but don’t you think that ... ?
 Why (In what way) do you think I should ... ?
 I see your point.

1 Загородная прогулка, экскурсия, пикник.

‒ 30 ‒
Student C
You also think that you must list all sources of income you can
rely upon: allowance, your income from a part time job as an errand-
boy (girl). In addition to allowance you are engaged in occasional
baby-sitting, and your grandparents presented you with a sum of
money on an account with a bank, so you can rely on interest on
savings. It comes to your mind that you should record only your take-
home pay as income. You should note all deductions1 from your pay-
cheque. Your second step should be to record how much you spend for
food, entertainment, clothing, college supplies, personal care,
transportation, and miscellaneous items. You wonder in which of the
categories you spend the most, the least. You think that you should
decide what changes to make in the budget if you want to reduce
your expenses.
Make use of the helpful phrases:
 I’d agree with you to a certain extent ... .
 Wouldn’t you say ... ?
 I take your point.
 I’m not sure I quite agree ... .
 I see what you mean, but ... .
 Come off it! You can’t be serious.
Student D
You remind your partner that fixed expenses are set in advance
and must be paid regularly (e.g. rent payments, tuition, higher
purchase installments). Flexible expenses are necessary but change
with circumstances (food, clothing, college supplies). Optional
expenses vary and are not always necessary (entertainment, personal
care). You suggest making an expense chart and figuring out what
percentage of your income is allocated for each item in the chart.
Thus you can compare your income and expenses. A consistent item
of overspending means that the budget should be readjusted or
followed more closely. Obviously expenses should not be higher
than income.
1 Вычеты.

‒ 31 ‒
Make use of the helpful phrases:
 Let me remind you that ... .
 Isn’t it( also) true to say (to assume)that ... .
 OK.
 I am bound to agree.
 Personally, I think that ... .

Student E
You point out that a personal budget is a finance plan that
allocates future personal income towards expenses, savings and debt
repayment. Past spending and personal debt are considered when
creating a personal budget. There are several methods and tools
available for creating, using and adjusting a personal budget.
A simple budget can be written on a piece of a paper with a
pencil, and optionally, a calculator. Several websites, such as
Mint.com and Thrive, have been devised to help manage personal
finances.

Make use of the helpful phrases:

 I’d like to point out that ... .
 Possibly (maybe so) ... .
 Well, to put it in simple terms, … .
 Moreover, … .

Student F
You insist that your budget should be flexible; you should expect
that a budget will change from month to month, and will require
monthly review. Cost overruns in one category of a budget should in
the next month be accounted for or prevented.
For example, if you spend €40 more than you planned on food in
spite of your best efforts, next month's budget should reflect an
approximate €40 increase and corresponding decrease in other parts
of the budget.
‒ 32 ‒
Make use of the helpful phrases:
 I am sure and it’s my strong position, that ... .
 Look here, … .
 To speak plainly … .
 Please, do consider my words carefully.
Student G
You are certain that special precautions need to be taken for
operating on an irregular income, especially spending more than
your average income, and running out of money even when income
is on average. Spending, which will be relatively constant, needs to
be maintained below that amount. You suggest that expenses should
be kept 5% or 10% below the estimated income. To avoid running
out of money because expenses occur before the money actually
arrives (known as a cash flow problem in business jargon), a “safety
cushion” of excess cash (to cover those months when actual income
is below estimations) should be established.
Make use of the helpful phrases:
 Mind that you should be very careful if ... .
 You should keep … in mind, when … .
 It’s a silly fish that is caught twice with the same bait1.
 A need for… is paramount; … .

Making a Decision
In coming to a decision, consider the following points:
 Your regular and irregular income.

 Your fixed, optional and flexible expenses.

 Consider common major pitfalls.

What other factors should be discussed?

Your decision:

1 Глуп тот, кто дважды попадается на ту же удочку.

‒ 33 ‒
1.9 GRAMMAR BACK UP 
PRACTICE
WITH NOUNS & THEIR DETERMINERS

LEAD-IN
Exercise 1
Task 1. Familiarize yourself with the text and fill in the chart
below with the italicized words from the text. Consult the
Grammar notes below. Translate the text into Russian.
Supply it with the suitable title.
The company of Harper & Grant Ltd. was started forty-two years
ago by two men: Ambrose Harper and Wingate Grant. Wingate Grant
died many years ago, and his son Hector, who is in his fifties (aged
between fifty and sixty) is the present Managing Director, Ambrose
Harper is the Chairman. He is now an old man, semi-retired, but he still
comes in to the office regularly to attend the board meetings and keep an
eye on the business.
The company started by making steel wastepaper bins for offices.
With the increase in smoking, these were considered much safer than
the old type of basket made of cane and straw, because there were
less likelihood of fire. Old Mr. Grant, the Managing Director’s
father, put the business on its feet when he captured a big contract to
supply government offices with steel wastepaper bins. He always
said that luck, or happy coincidence, turned a business into success
or failure. He was rather like Napoleon, who always asked if an
officer was lucky before giving him a higher command. Mr. Grant
Senior used to tell the story that, in the week before he landed his
contract, a cane wastepaper basket had caught fire in a government
department, the fire had spread rapidly and destroyed a number of
irreplaceable documents.
From wastepaper bins, Harper & Grant began to manufacture
other items of office equipment: desks, chairs, cupboards, filing
cabinets and smaller objects, such as filing trays, stapling machines
and so on, until now when there are fifty-six different items listed in
their catalogue. Today, nearly all the items produced by this
company are made of pressed steel. The steel arrives in sheets from a
‒ 34 ‒
steel works in South Wales. It is then cut by machinery into the
required pieces; these pieces are then pressed into shape and fixed
together by welding (joining two metal parts by heating so that the
metals flow together), or by drilling holes in the metal and securing
the two pieces with a bolt or a rivet.
Countable Countable plural Collective Non-count Proper
singular nouns nouns nouns nouns
nouns
regular irregular abstract material
1 2 3 4 5 6 7
basket bins men group luck steel Hector

‒ 35 ‒
Exercise 2
A. Consult a dictionary and underline the syllable that you will
stress when speaking1:
1. John needs a permit to go on an expensive fact-finding tour.
2. Mr. Grant can’t permit you to waste money for very little profit.
3. Will they increase exports next year?
4. Mr. Martin is looking for an increase in exports.
5. We must export more.
6. You know what the boss thinks about exports.
7. He objects to the attempt to break into the new market.
8. Don’t treat me as if I were an object.
9. What’s his record in business?
10. The firm recorded a loss after a disastrous attempt to export to
South America.
11. Our imports have increased.
12. The developing countries import too much.
13. Some goods do not require resources to produce them.
14. Winter produce will cost more for the next few weeks.
15. Within a free market system, new businesses find easy access to
the economy and opportunities to succeed.
16. Total group sales and trading surplus were lower than the previous
year largely because of the transfer of special steels.
17. The payments were transferred to reserves for putting back into the
business.
18. What is the difference between the subjects of microeconomics and
macroeconomics?
19. Each commodity market is subject to special conditions.
20. In the USA anti-trust laws subject activities aimed at cornering the
market to special anti-trust laws that restrict such activities.
1 With some words, when the stress is on the first syllable, the word is a noun.

When the stress is on the second syllable, it is a verb. Sometimes the meanings
are related (progress – to progress), they can also be quite different (conduct – to
conduct).
‒ 36 ‒
21. Improvements in the methods of processing food have repeatedly
allowed the suppliers to raise the supply at a given cost.
22. They offer services for those who need buildings but are unfamiliar
with the processes and economics of construction.
23. The letter was abstracted from the filing tray.
24. Arrange the abstract with the topic sentence, several developers
and a restatement.
25. Go back to the shop, cancel a purchase and ask for a refund.
26. All money will be refunded if the goods are not satisfactory.
27. Refunding is funding of a debt again by the government.
28. We paid a charge on our excess baggage.
29. The demand for goods was in excess of the actual need.
30. If you need the expert advice you will consult the specialist.
31. The Congress advised the President against signing the treaty.
32. After the QUIZ the teacher proceeded to explain the mistakes to
the class.
33. He sold his shop and invested the proceeds in a computer repair
business.
34. In most firms the relationship between management and unions
is good, but sometimes a labour dispute occurs.

B. Note the pronunciation of the following pairs of words.

Transcribe them and submit the examples of your own.
Translate the words into Russian.

elaborate adj [ɪ'læb(ə)rɪt] elaborate v [ɪ'læb(ə)reɪt]

coordinate n, adj coordinate v
associate n, adj associate v
estimate n estimate v
graduate n graduate v

‒ 37 ‒
 PRACTICE WITH NOUNS

Ask yourself these questions when checking nouns.

1. What kind of noun is it? Is it a count or noncount?

Countable nouns can have singular or plural forms and take singular
or plural verbs. You can put a number before this kind of noun and
a/an .

People do not settle into one role, the role of a consumer; they settle
into two major roles : of a consumer and a producer.
A producer makes the goods or provides the services that consumers
use.

Noncount nouns refer to general things such as qualities, substances,

or topics. They cannot be counted and have only a singular form. We
do not normally use a/an or a number directly before uncountable
nouns.

You may have several resources ‒ time, energy, money, talent,

knowledge and skills, charm, intelligence, imagination. Yet your
resources are limited.

2. Is there a quantifier1 with the noun that can be used to

identify the nature of the noun?

a. Some quantifiers are used with both plural count nouns and
noncount nouns.

all a lot of most

any plenty of some
enough more lots of

1 A quantifier is a word that indicates an amount or quantity.

‒ 38 ‒
 Goods which cannot be stored for any length of time without
going bad are called “perishables”.
Any scarcity forces you to decide
what you want most.
Children find that there are a lot of things in the world they
want in early childhood.
A lot of money is needed to meet
personal needs.

b. Some quantifiers are used only with

noncount nouns.
a little much a large / small amount of a bit of
Too much money is needed to satisfy
non-essential wants.

c. Some quantifiers are used only with plural

count nouns.

both a few a couple of the majority of/a majority of

many several a number of dozens of/hundreds of

You probably want many things ‒ clothes, entertainment,

money for travelling.

d. Some quantifiers are used only with singular

count nouns.
another each every

Later young people learn another lesson.

Every country will answer three major economic questions
in a different way.
‒ 39 ‒
 Nouns not normally countable in English
accommodation countryside hair1 machinery scenery
advice courage happiness meat shopping
assistance cutlery harm money smoking
baggage damage help mud spelling
behavior dancing homework music strength
bread education hospitality news stuff
business2 equipment information nonsense timber
capital3 evidence jealousy parking traffic
cash food jewelry permission transport
chaos fruit knowledge poetry travel
chess fun laughter post/mail4 underwear5
china furniture leisure produce wealth
clothing garbage linen progress weather
conduct gossip luck rubbish work6
cookery grass luggage safety

3. Is the form of a noun correct?

The plural form for most nouns has an -s or (after -o;-s;-x;-ch;-sh)
-es ending.
a. Some nouns form their plurals with a vowel change or an ending
change (man/men). Penny can have a regular plural pennies when
we are referring to separate coins (ten pennies) or a collective
plural, pence, when we are referring to a total amount (ten pence).
Note the following nouns, which have irregular plural:
1 All the hairs on the head.
2 Trade.
3 Money.
4 Letters.
5 Jeanswear, etc.
6 Housework, etc.

‒ 40 ‒
 Singular Plural
alumna [ə'lʌmnə] бывшая студентка alumnae
[ə'lʌmni:]
alumnus бывший студент alumni
analysis анализ (разбор) analyses
bacterium бактерия bacteria
basis базис bases
bureau [bjuə'rəu] бюро, отдел, управление, bureaus/bureaux
комитет
′caput голова (на душу населения) capita (per capita)
crisis кризис crises
criterion критерий criteria
curriculum курс обучения, учебный план curricula
datum данная (величина) data1
formula формула; формулировка; formulae/formulas
рецепт
honorarium гонорар honoraria
medium средство media
memorandum меморандум memoranda
phenomenon явление phenomena
précis ['preɪsi:] краткое изложение, конспект, précis ['preɪsi:z]
резюме
sanatorium санаторий sanatoria
synopsis конспект, краткий обзор; synopses
[sɪ'nɔpsɪs] синóпсис [sɪ'nɔpsi:z]
stratum слой (общества) strata
trivium пустяк, мелочь trivia
b. Some nouns form their plurals by changing a consonant before
adding -s or -es, (wolf – wolves; leaf – leaves; wife – wives) or by
changing -y into -ies (country – countries); except -ay, -ey, -oy,
-uy (boy ‒ boys).

1, 2
Is used with a singular or plural verb (L.G. Alexander, “Longman English
Grammar”).
‒ 41 ‒
c. Some nouns form their plurals by adding an ending.
(child – children, ox - oxen)
d. Some have the same plural and singular forms.

bison deer offspring series means (средство)

corps fish spacecraft species works (завод)
 Exports, imports (количество или стоимость вывезенных или
ввезенных товаров) take a plural verb but export, import (про‐
цесс ввоза или вывоза) are singular.
 Note that dozen and score have the same plural and singular form
if they go after the numeral: two dozen (of ) eggs, three score (of )
years (but scores / dozens of people)

e. When a noun is used as an adjective, it takes a singular form.

The goods can be stored for two weeks. (noun)
This is a two-week store of goods.
We also use – ’s with (or – s’ with plural words) periods of time.
I’ve got a week’s / three weeks’ sick leave.

f. Collective nouns (crowd, firm, team, group, etc.) refer to an entire

group. When these are groups of people we often think of them as
a number of people (=”they”), not as one thing (=”it”). So we
often use a plural verb:
The staff at the firm (=they) are not happy with outside consultants.
When a collective noun indicates a period of time, a sum of
money, or a measurement, it takes a singular verb.
Two weeks is enough time to provide goods.
Ten dollars is not enough to meet the needs of a family.
g. Some nouns end in -s but are actually singular and take singular
verbs: economics, statistics, politics (academic subjects); news.
Economics if studied thoroughly influences how you earn a living.
But when the reference is specific, the verb must be plural.
Their statistics are extremely helpful (статистические данные).
‒ 42 ‒
 Nouns like crossroads, headquarters, kennels, series, species,
works (=factory) are singular when they refer to one:
John has just read a series of articles about the discovery of oil.
They are plural when they refer to more than one:
There are a lot of TV series about turning a business into success.

h. Many compound nouns are formed by using one noun (as an

adjective) in front of another noun. When this happens, the first
noun is almost always singular (even if the meaning is plural):
a shoeshop (a shop which sells shoes)
We normally form plurals of compound nouns by adding -(e)s to
the second word.
Foodstuffs belong to the category of perishable goods.
But note that compounds ending in -in-law, -in-chief and -by add
-s to the first word:
one brother-in-law ‒ two-brothers-in-law
a passer-by ‒ some passers-by
editor-in-chief ‒ editors-in-chief
But where men or women is prefixed both parts are made plural:
men drivers women drivers

i. Goods (товар), clothes (одежда), riches (богатство), proceeds

(выручка), wages (заработная плата), contents (содержание)
normally1 occur only in the plural and are followed by a plural
verb.
By “perishable” we mean goods which cannot be stored for any
length of time without going bad.
j. We use only plural verbs with nouns people, the police, note that
peoples means “national populations”.

1 But in modern English one may come across the following:

Scarcity is the situation that exists when demand for a good, service or resource is
greater than supply.
‒ 43 ‒
Exercise 1
Choose the correct form.
e.g. There were / was some imported goods in the store.
1. Economics is / are the study of how people use their resources to
produce, distribute and consume goods.
2. The news that he was enable to earn a living was / were quite
surprising.
3. Two weeks isn’t/ aren’t a very long time to become used up, is it /
are they?
4. Money isn’t / aren’t the most important thing in life, is it / are
they?
5. Seven pounds is / are an average weight for a new-born.
6. Politics is / are Professor Brown’s speciality.
7. The knowledge gained from the experience was / were invaluable.
8. Several Japanese was / were reported to complain that the fish had
gone bad.
9. The imports has / have greatly increased which may influence the
supply.
10. A knowledge of statistics, the analysis of how people and countries
use their resources to produce, distribute, and consume goods and
services is / are so important.
11. Sooner or later even very expensive clothes is / are used up.
12. What is / are his politics as to breaking into the South American
market?
13. Most people hire / hires people they like, rather than the most
competent person.

Exercise 2
Choose the correct form.
e.g. I’d like some data / datums about the supply of goods.
1. Sue is a woman with blond hair / hairs who lives opposite.
2. Did you have a good travel / journey from Switzerland ?
3. We have the problem of scarcity and we’d like some advice /
advices.
‒ 44 ‒
 4. The supply of a bread/some bread did not correspond with the
demand for it.
5. I’d like to find out the cost of tuition, have you got an
information / any information?
6. He is trying to find a work / job at the moment, he must do it to
earn a living.
7. Economists studied different phenomenon / phenomena in
order to solve the problem of scarcity.
8. Foodstuff / foodstuffs belong to the category of goods that go
bad if are stored too long.
9. Pennies / pence are made of nickel or cupronickel.
10. The tin of cola costs 90 pennies / pence and you won’t
economize much.
11. Mass medium / media are a good source of job openings.
12. In the English speaking countries eggs are sold in dozen /
dozens.

Exercise 3
Choose the underlined word combination that is incorrect.
1. Hair found on the victim’s jacket were studied by the police,
A B C
which helped them to find the criminal.
D
2. The knowledge of economics was passed from one generation
A B C
to another generations.
D
3. One series of statistical booklet that was used at the seminar
A B C
was written by the students themselves.
D
4. Examples of fixed expense are rent payments, hire purchase
A B C
installments, tuition.
D
‒ 45 ‒
 5. Make a family budget with your adult childs identifying its
A B
monthly income and expenses.
C D
6. There are the data of our field survey on the files cabinet.
A B C
They are very important.
D
7. It was so difficult for a poor man to earn his living because he
A B
had to provide for his numerous son-in-laws and other relatives.
C D
8. John Martin has just read an article in “The Times” about the
A B
recent discovery of a large number of oil in the North Sea.
C D
9. There have never been any woman-managers at this works.
A B C D
10. The contents of the letter were not made public, but bad news
A B C
travel fast.
D
11. The Managing Director stopped to cool his temper and the three
A
stood motionless, like sheeps in the stare of a python.
B C D
12. Tony’s FBI criminal file described him as five-feet-eight,
A B
medium build, a hundred and forty-six pounds, black hairs,
C D
strong nose, brown eyes, charged with a bank robbery.

Exercise 4
Render the following into English:
1. Содержание письма было совсем неожиданным, и Том
решил выяснить, возможно ли экспортировать (продукцию)
в столицу.
‒ 46 ‒
 2. Его зарплата очень высокая, но и его потребности велики.
3. В этой статье вы найдете свежие данные о том, как за
последние месяцы изменился доход на душу населения, а
также экспорт и импорт Италии.
4. Экономика труда занимается проблемами рынков труда,
исследует данные о деятельности предприятий, их
сотрудников и общества в целом.
5. – Производитель сообщает, что на экспорт этого товара тре-
буется лицензия. – Не думаю, что это очень приятные новос-
ти для потребителей.
6. Студенты, которые работают после занятий или во время
каникул, зарабатывают деньги, чтобы затем потратить их на
свои нужды. Причем во многих странах даже в обеспе-
ченных слоях общества родители за то, чтобы их дети шли
своим путем.
7. Этот скоропортящийся товар еще не поставлен потреби-
телю, а ведь он может испортиться.
8. Экономические кризисы – это одно из явлений, которые изу-
чают экономисты и постоянно освещают средства массовой
информации.
9. Статистика утверждает, что в последнее время уменьшилось
количество семей с двумя детьми, ряд семей вообще не
имеет детей по материальным соображениям (for money
reasons).
10. Хорошо известно, что бывшие студенты нуждаются в
советах и помощи при поисках работы (job-hunting).
11. – Вы отдаете всю эту одежду? – Нет, бо́льшая часть ее
выглядит превосходно.
12. Я купил эти часы в Гааге. Они очень хорошие, но дорогие.
Оправданы ли эти расходы? Будут ли они облагаться тамо-
женным сбором?
13. – В целом эти новости очень интересные. А Вы узнали, кому
принадлежат эти деньги? – Бюрократические преграды оста-
вили мне мало шансов.
‒ 47 ‒
Exercise 5
CONTEXT
Read the text below. In most of the lines there is one wrong
word or word combination. Some lines, however, are correct.
 If a line is correct, put a tick () in the space in the right-hand
column.
 If there is a mistake in the line, write the correct word in the
right-hand column.

1. The firm has a history of slow, steady growth. Hector Grant ...…
2. firmly believes that he knows the best way to run firm. a firm
3. However, his nephew Peter Wiles (son of the Mr. Grant’s
4. sister), who joined the company six years ago and is
Production
5. Manager, and John Martin, appointed two years ago to be Sales
6. Manager, is more adventurous. They want to treble Harper &
7. Grant’s business over the next a few years and are certain that,
8. with modern businesses techniques and increased exports, they
9. can achieve this. A small firm cannot possibly afford to have
10. on its staff experts in all modern management technique.
11. It usually hires expert advise from outside consultants and
12. bureaux. On the other hand, it is important that members of the
13. firm’s management are aware of the more sophisticated
14. techniques. It’s a common knowledge that, while this change-
15. over from the old way to the new is taking place, there are
16. often difficulties and conflict. But Harper & Grant Ltd., like
17. the majority their rivals, must get right up-to-date and
18. enlarge their business, or they will be outpaced by a firm
19. whose business organization is better than their own.

 In what way do the managerial methods differ among the

officials in Harper & Grant Ltd.?
 What are the peculiarities of running a small business?
‒ 48 ‒
 PRACTICE WITH ARTICLES,
DEMONSTRATIVES
AND OTHER DETERMINERS

Ask yourself these questions when checking articles and

demonstratives and note some aspects of the subject.
1. Should an indefinite article (“a” or “an”) be used?
a. before singular count nouns mentioned for the first time.
Your grandparents probably never attended a class of Economics.
b. when the singular form is used to make a general statement about
all people or things of that type.
A producer makes the goods or provides the services.
( All producers make goods or provide services.)
c. in expressions of price, speed, and ratio.
60 miles an hour / four times a day / 50 pence a dozen
half a pound of tea / a half pound of tea
a quarter of a pound of coffee / a quarter pound of coffee
“A” or “an” are not used:
d. before plural nouns.
Services are actions, such as haircutting, cleaning or teaching.
e. before non-count nouns.
A person who makes pizza and then sells it is producing goods.
2. Should the definite article “the” be used?
“The” is used:
a. before adjectives used as nouns:
The poor have to think hard about how to meet their needs for
goods and services.
b. before some nationality words e.g. the English (the people of
England), the Dutch (the people of Holland), ... etc.
Note that these words all end in -sh (the English), -ch (the French),
or -ese (the Japanese).
With other nationalities we use a plural noun ending in -s with or
without the (e.g. (the) Italians, (the) Germans).
‒ 49 ‒
c. with canals, deserts, forests, oceans, rivers, seas, and plural
islands, lakes and mountains (the Suez Canal, the Black Forest,
the Hawaiian Islands, the Atlantic Ocean).
d. when the name of a country, or state includes the word “of”, the
type of government, or a plural form.
The Republic of Ireland, The United Kingdom, The Philippines.
e. with the following states, cities, and places.
(the Netherlands, the Argentine (but Argentina), the Vatican, the
Crimea, the Caucasus, the Hague, the City (of London).
f. with the names of hotels, cinemas, museums, clubs, restaurants,
pubs: the Plaza Hotel, the Odeon Cinema, the Swan Restaurant.
g. before names with of: the Bank of England (but: Barkley’s Bank),
the University of London (but: London University).
h. with the names of newspapers/journals: The Times, The Guardian.
“The” is not used with:
a. planets and singular islands, lakes, mountains, and parks: Central
Park, Fiji Island, Lake Baikal, Mount Everest.
b. the names of countries and states, continents and cities, streets:
Japan, Russia, Africa, Chicago, Mexico City, Oxford Street
3. Which article, if any, should be used?
a. The expression “a number of” means “several” or “many” and
takes a plural verb.
The expression “the number of” refers to a group and takes a
singular verb.
A large number of producers suffer a loss when goods go bad.
The number of producers has fallen because of the economic crisis.
b. Sometimes an article is used to show a specific meaning.
A knowledge of economics is important to everyone now.
4. Are the demonstratives this, that, these, those used correctly?
If the demonstrative is followed by an adjective, “one”, or
“ones” must be used.
I need a job. I’ll get this part-time one.
But: We do not say my one(s), your one(s), etc. Instead we say mine, yours, etc.
Your car isn’t fast enough. Let’s take mine.
‒ 50 ‒
5. What should be used in front of abbreviations?
a. We make abbreviations with the first letters of the most important
words. We then treat these abbreviations like ordinary nouns and
use them with a/an, the or zero.
I’ve just bought a DVD.
We use an + vowel sound (an E.D.P. = Electronic Data
Processing) and a + consonant sound (a VW = a Volkswagen).
b. We use a/an and full stops with titles: She is an M.A. (= Master
of Arts).
c. We use the in front of institutions when we can’t say them as
single words. We don’t use full stops:
I listen to the news on the BBC
(=the British Broadcasting Corporation).
We are members of UNESCO
(=the United Nations Educational, Scientific, and Cultural
Organization).

Exercise 1
Write the correct article (“a”, “an”, or “the”). If no article is
needed, write “o”.
1. ... John Martin, ... Sales Manager, is discussing ... article he has just
read in ... Times newspaper about ... recent discovery of oil in ...
Abraca.
2. I decided to compare my monthly expenses with ... expense chart
of my friend.
3. ... young, like everyone else, have unlimited wants and limited
recources.
4. Ambrose Harper is ... old man, but he still comes to ... office
regularly to ... board meetings.
5. ... number of irreplaceable documents were destroyed when ... cane
wastepaper basket caught fire in ... government office.
6. I decided to convince my relative, ... clerk at ... Bank of Scotland,
to lend me ... money to cover ... cost of my further education.
‒ 51 ‒
 7. I’ve been thinking of that scheme of yours to sell our products to ...
Netherlands. They say ... Dutch are going to raise their imports
rapidly.
8. ... number of sources of money you can rely upon is decreasing.
9. A lot of goods are transshipped via ... Hague, which is more
expensive.
Exercise 2
If the underlined word or words are used incorrectly, make
correction.1
1. More people are involved in silk production than in any another
activity in the district.
2. One of the two major economic roles is that of a consumer and
other is that of a producer.
3. Some consumer goods last long, other goods go bad and become
used up soon.
4. Another goods, such as furniture, or refrigerators, last longer.
5. Teaching is yet another action called service.
6. Some goods are bought for personal use while another are
bought for resale.
7. People make other economic discoveries when they are still
young.
8. Another advice will help you to develop a useful personal
budget.
9. One expense may turn higher than planned while another may be
lower.
Exercise 3
Choose the correct form, checking demonstratives.
1. I was shocked by that / those news.
2. There is all this / these red tape involved in getting an import
licence.
3. A field survey shows why that / those specimen of goods is
attractive.
4. I know this / that manager over there.
1 The other means different from the first of the two subjects or objects.

‒ 52 ‒
 5. That / those economics courses offered at the university are very
elementary.
6. This / these expenses are to be reduced with effective economic
decisions.
7. The consumers buy this / these cotton shirts more than these /
those silk ones.
8. Our expenses are much higher than your former one / ones.
9. She presented him with the French watch, but he wanted the
Swiss one / ones.
10. Perishable goods can be stored less than non-perishable - / ones.

Exercise 4
Possessives usually replace articles before nouns. We can say the car
or Peter’s car, but not Peter’s the car or the Peter’s car. But a
possessive word can have its own article: the boss’s car, the Browns’
house. Note also: that car of Peter’s, a friend of Peter’s (like a friend
of mine).
Put  for correct sentences; rewrite the incorrect ones.
1. Is Peter the Grant’s nephew?
2. Consumer goods are products, such as food, clothing, and cars,
that satisfy people’s economic needs or wants.
3. Is this the manager’s file?
4. Do you know John’s last name?
5. Here is the Harper’s address.
6. The answers to the questions depend on a country’s human,
natural, and capital resources, and also on its customs and values.
7. You also try to focus your partner’s the attention on the
difference between fixed, optional and flexible expenses.
8. That overspending of John’s reached the peak of 1.5% .
9. What is the general relationship between a person’s education
and that individual’s earning power?
10. The consumer’s desire for a commodity tends to diminish as he
buys more units of it.
11. What’s the Wilsons’ number?
12. It’s a crazy idea of John Martin.
13. Where is that uncle of Peter’s?
14. We can say that the utility of a commodity decreases as the
consumer’s stock of that commodity increases.
‒ 53 ‒
Exercise 5
Supply a/an, the or “-”.
1. Mr. Buckhurst is … F.C.A. (= Fellow of the Institute of
Chartered Accountants).
2. John got … B.Sc. (= Bachelor of Science) from Durham
University in 1988.
3. Do you know how much … MP (Member of Parliament) earns?
4. We studied …BASIC (= Beginners’ All-purpose Symbolic
Instruction Code) at the computer class.
5. Does Ukraine belong to … NATO (= North Atlantic Treaty
Organization)?
6. The shareholders are invited to attend … A.G.M. (= the Annual
General Meeting).
7. … NASA (=National Aeronautics and Space Administration)
had a setback in1986.
8. … I.Q. is a common abbreviation for an Intelligence Quotient.
9. … EEC (=the European Economic Community) established
common tariffs against products from non-EEC nations.
10. … GATT (=General Agreement on Tariffs and Trade)
encompassed 22 countries in 1947, later the group expanded to
somewhat about 100 countries.
11. The annual report contains a letter to the stockholders from ...
CEO (the Chief Executive Officer) of the corporation.

Exercise 6
Choose the word or word combination that is incorrect.
1. Goods that have to be transshipped via Netherlands turn to come
A B
sooner than the other ones.
C D
2. When they go to college, young want to use their income
A B
effectively and learn to economise on every twopence to keep
C D
the budget thoroughly.
‒ 54 ‒
3. Those consumers, who drink tea four times in a day usually buy
A B
not less than a half pound of tea and often of the best quality.
C D
4. Producers like these are one pence a dozen, you’d better look for
A B
some other ones.
C D
5. Germans, Italians as well as Dutch use English to communicate.
A B C D
6. Milk belongs to the category of perishable goods, the shoes do not,
A B C
as they can be stored for a long time without going bad.
D
7. The number of rich among the Italians does not vary much
A B C
from that among other nations.
D
8. Nakamurasan is a Japanese. Having studied his preliminary
A
desk research, the manager made a conclusion that Japanese are
B C D
very hard-working people.

9. Mr. Denis Stocks, a Harvard alumnus, has just been given a B.Sc.
A B
for twelve years’ research into an ancient Egyptian industrial
C D
methods.

‒ 55 ‒
 PRACTICE WITH SUBJECTS

Ask yourself these questions when checking nouns.

1. Does the sentence contain a subject?
All complete sentences contain a subject. Exception: the command
form, in which the subject is understood. (“Buy some tea”).
a. Various structures may be used for subjects.
 Noun
The subject may consist of one or more nouns:
A producer makes goods or provides services.
People or businesses can produce goods.
 Pronoun
You find that there are lots of things in the world you want.
 Clause (contains noun + verb)
The first Persian carpet I bought was very expensive.
Several different clause structures can be used for subjects.
Wh-structures:
Where we go depends on the job opportunities.
Yes/no structures
Whether I develop a personal budget or not doesn’t matter.
“The fact that” structures (“the fact” is frequently omitted in these
structures):
The fact that he pays his expenses regularly is a miracle.
That he pays his expenses regularly is a miracle.
 -ing forms
Working became hard.
Working ten years on the mine was enough.
 Infinitive and Infinitive phrase
To save is important.
To save on optional expenses is the only way out.
2. Does the subject agree with the verb?
The subject (S) and the verb (V) must agree in person and number.
____S____ _____V______
Entertainment, personal care, or college supplies are optional
expenses for a student.
Note the following subject-verb agreement rules:
‒ 56 ‒
a. A prepositional phrase does not affect the verb.
____S____ _____V______

All sources of money in the budget have been listed.

b. The following expressions do not affect the verb:

accompanied by along with among

in addition to together with as well as
___S____ _____V______

Allowance and part-time jobs, along with interest on savings,

are money resources.
c. Subjects joined by “and” or “both ... and ...” take a plural verb.
Both rent payment and hire purchase installments
are fixed expenses.
d. When several, many, both and few are used as pronouns, they
take a plural verb. Word combinations the majority, the rest are
also plural.
Many people keep track of their actual income and expenses
for a month.
e. When the following phrases are used, the verb agrees with the
subject that is closer to the verb in the sentence: either ... or,
neither ... nor, not only ... but also.
Neither rent nor taxes have been put into the list of spending.
Neither taxes nor rent has been put into the list of spending.
f. When a word indicating nationality refers to a language, it is
singular. When it refers to people, it is plural.
Japanese was a difficult language for me to learn.
The Japanese are very inventive people.
g. When clauses, infinitives or gerunds are used as subjects, they
usually take a singular verb.
What it takes is not worth money or effort.
Investing in capital resources is wise.
‒ 57 ‒
h. Some words are often confused by students as being plural. The
following words must be followed by singular verbs and
pronouns in formal written English.
any no some every/ each
anybody nobody somebody everybody
anyone no one someone everyone
anything nothing something everything
Either and neither are singular if they are not used with or and nor.
Everybody who has not sorted an import licence should apply for it.
If either of you takes a leave now, we will not be able
to complete the task.

3. Have “it” and “there” been used correctly?

We use there + be to say that something exists; we use it, they +
be to give more details.
a. Sometimes a speaker wants to focus on the type of information
that is expressed by an adjective. Since an adjective cannot be
used in a subject position, the word “it” is used as the subject:
It was late and nobody could use the lost money.
Sometimes a speaker wants to emphasize a noun and its relative
clause. The speaker uses “it” in the subject position followed by
the verb “be”:
It is my mother who makes the family budget.
b. The word “there” is used as the subject and agrees with the
nearest noun or noun phrase.
_S_ _V_ _____________ N PHR ________
There are very high tariffs and duties on certain products.
“There” can be an adverb which tells where something is. (2)
“There” can also be used to fill the subject position. (1)
There (1) is my preliminary desk research over there (2) on the shelf.

Exercise 1
Write “R” (right) if the subject agrees with the verb, and “W”
(wrong) if it does not.
‒ 58 ‒
 1. Sam, along with other students, plans on protesting the change in
academic requirements.
2. Neither her sons nor her daughter know what their annual
income is.
3. Accumulating play money are what seems to be the attraction of
many board games.
4. What was decided during the meeting has been well documented.
5. The chairmen, together with the Board members, are meeting the
partners.
6. Two weeks is plenty of time to finish the course.
7. Peter Wiles, who joined the company six years ago and is
Production Manager, and John Martin, appointed two years ago
to be Sales Manager, are very adventurous.
8. Modernizing a business to increase its profits are a complicated
affair.
9. Tom Douglas together with some critics of the new export
markets ask whether the field survey will actually do any good.
10. Several theories on this subject have been proposed.
11. The view on these management techniques vary from time to
time.
12. The General Manager as well as his staff are trying to sort out
the import licence.
13. Anybody who have lost his ticket should report to the desk.
14. Nobody works harder than John does.
15. Everybody who have labour trouble can’t meet the delivery
dates.
16. There are some people at the Board of Trade who has a different
way of looking at things.
17. Every forward-looking manager’s convinced it’s quite the right
time for this probe now.
18. There are tariffs on certain goods, but the Board of Trade assure
me that our office equipment would not be liable for duty.
19. After he had received a reservation for a first-class return flight,
John decided that everything were in order.
20. There are a couple of likely competitors for this project. The rest
of the firms are indifferent.
‒ 59 ‒
Exercise 2
Choose the correct subject from the possible choices.
1. Even though 26% of Californian residents do not speak English
in their homes, only _____ do not speak English at all.
(A) that 6% of them
(B) those of the 6% of them
(C) to the 6% of them
(D) 6% of them
2. _____ are effective means of communication.
(A) Theatre, music, dance, and folk tales
(B) That theatre, music, dance, and folk tales
(C) To use theatre, music, dance, and folk tales
(D) Using theatre, music, dance, and folk tales
3. When China’s dramatic economic reforms began to encourage
private enterprise, _____ began to set up a variety of businesses
immediately.
(A) that entrepreneurs
(B) to be an entrepreneur
(C) entrepreneur
(D) entrepreneurs
4. _____ is a big waste of time and money for very little profit.
(A) The firm breaks into the new market
(B) Breaking into the new market
(C) Break is taken into the new market
(D) The new markets
5. In the city centre _____ noisy market stalls set in narrow alleys.
(A) it
(B) it is
(C) there
(D) there are
6. In America, _____ a growing demand for Indonesian food.
(A) there is
(B) it is
(C) it
(D) there
‒ 60 ‒
 7. Nowadays people in most countries use money because _______
impossible to carry on trade in the modern world without it.
(A) it
(B) there
(C) there is
(D) it is
8. ________ unnecessary red tape and promote research were the
main objectives of the committee.
(A) To stop
(B) That to stop
(C) The stop of
(D) Stopping
9. When we want to economise, ________ that helps us to spend
money more effectively.
(A) that the personal budget
(B) it is the personal budget
(C) the personal budget
(D) there are personal budgets
10. ________ were produced because of the scarcity of resources.
(A) The number of goods
(B) A number of goods
(C) Number of
(D) Number of a good
11. ________ next to nothing about the difference between fixed,
flexible, and optional expenses.
(A) Both you and Alex knows
(B) Both Alex and you know
(C) Both you know
(D) You and Alex knows
12. Either Sara or the Seddons ______ how much is spent on tuition.
(A) knows
(B) is knowing
(C) know
(D) are knowing
‒ 61 ‒
 REVISION 
Exercise 1
Below are some flashes of conversation in which different
students speak about their life at college. Tick () the correct
words or word combinations. Use the patterns in the role-play
“Making a personal budget”.
Roger:
I’m in my third year at  college | the college| a college on the
computer course and I have already learnt how to programme
computers using a BASIC| an BASIC| BASIC .
Most of work| a work| the work is practical with a lot of time
spent at the keyboard. I’m looking forward to getting the my own|
my own| my the own car soon. At present a taxi transport| the
transport| transports me between home and college and this is a bit
expensive.
Keith:
This is my second year at college.
I am on a “sandwich” course involving three years of theory|
three years theory| three year of theory and a year spent in industry. I
do part-time job| a part-time jobs| a part-time job at weekends –
except when I have to play in a football match – working in a hotel.
The means| These means| This means that, with pocket money from
my parents, I’ve usually got enough to do the things I want.
David:
Most higher education students receive| student receive| student
receives some financial support from LEAs (local education
authorities) with the rest their money| rest of their money| the rest of
their money made up through parental support or through the Student
Loans Company set up by central government to provide subsidized
loans for students.
Frank:
Over 90 per cent of students on their first degree receive| receives| a
receive awards covering tuition fees and maintenance. Parents also
contribute, the amount| the number| a number depending on their
income. In addition, students are eligible for an interest-free loan.
‒ 62 ‒
Linda:
And here is another| the other| other dilemma for prosperous
parents of university students: should they insist that their children
learn to live on their student grants plus whatever they can earn
during the holidays – or do they give them money to buy that| the|
another clothes and electronic equipment they want?

Exercise 2
Do it in English:
Государства и отдельные граждане сталкиваются с одними и
теми же экономическими вопросами:
1. Какие товары и услуги производить?
2. Каким образом их производить?
3. Кто их будет потреблять?
4. Сколько производить для насущного потребления, сколько –
на будущее?
Продукция (товары и услуги) вырабатывается в результате
потребления вводимых факторов (ресурсов), которые иногда
называют факторами производства. Этими факторами являются
земля, рабочая сила и капитал. Проблемы возникают из-за того,
что наши желания и потребности беспредельны, а ресурсы
ограничены. Распределение ресурсов связано с конкретным
использованием земли, рабочей силы и капитала.
Студентам также приходится делать выбор относительно
личных расходов и сбережений. Разумные молодые люди учатся
вырабатывать приемлемый личный бюджет. Для начала они
записывают свои реальные ежемесячные доходы и расходы. К до-
ходам причисляются различные пособия, временные доходы от
выполнения каких-либо поручений, проценты от сбережений и
т.д. Очень важно учесть, сколько тратится на еду, развлечения,
одежду, учебные принадлежности, личную гигиену, транспорт и
прочие мелочи. Следует помнить о разнице между постоянными,
колеблющимися и необязательными расходами, чтобы иметь воз-
можность корректировать бюджет, если значительный перерасход
средств будет обнаружен.
‒ 63 ‒
 Glossary 
allocate v distribute (resources or duties) for a particular
purpose
allowance n 1. the amount of something that is permitted,
especially within a set of regulations or for a
specified purpose
2. a sum of money paid regularly to a person to
meet needs or expenses
3. a small amount of money given regularly to a
child by its parents
chart n a sheet of information in the form of a table,
graph, or diagram
consume v 1. eat, drink, or ingest (food or drink)
2. use up (a resource)
3. buy (goods or services)
consumer n a person who purchases goods and services for
personal use
demand n 1. an act of demanding; claim
2. the desire of people for particular goods or
services; the ability and willingness of people to
pay for them
demand v 1. to ask for firmly and not be willing to accept a
refusal; claim as if by right
2. 2. to need urgently
develop v to come or bring gradually to a larger, more complete
or more advanced state; (cause to) grow or increase
earn v to get (money) by working
expense n cost in money, time or effort
expenses n the money used or needed for a purpose
goods n articles for sale
consumer goods goods that are used for personal use
capital goods goods that are used to produce other items
perishable goods goods cannot be stored for any length of time
without going bad
income n money which one receives regularly, usually as
payment for one’s work or interest from
investments
‒ 64 ‒
need n 1. the condition in which something necessary,
desirable or very useful is missing or wanted
2. a necessary duty; what must be done; obligation
3. something one wants or must have
4. the state of not having enough food or money
to meet needs to satisfy wants
produce n something that had been produced
produce v to make (goods for sale) especially in large
quantities
producer n a person, company or country that produces goods,
foods or materials
provide v to cause or arrange for (someone) to have or use
(something useful or needed); supply
reduce v to make less in size, amount, price, degree, etc.
record n a written statement of facts, events, etc.
record v to write down (a description or piece of
information) so that it will be known in the future
satisfy v 1. to please (someone) esp. by giving them enough
2. to be or give enough for; fulfill
satisfy wants to meet needs
satisfaction 1. (something that gives) a feeling of happiness or
pleasure
2. fulfillment of a need, desire, etc.
serve v 1. to do work (for); give service (to)
2. to provide with something necessary or useful
service n 3. attention to customers in a shop or esp. to quests
in a hotel, restaurant etc.
4. (the operation) of a business or organization
doing useful work or supplying a need
settle v 1. to decide on; fix; make the last arrangements
about
2. to bring (a matter) to an agreement
settle into to get used to (new surroundings,
something a new job, etc.)
supply n 1. an amount for use
2. (a system of) the supplying of something needed
supply v 1. to provide (something that is needed)
2. to provide things to (a person) for use
scarcity n a state of being scarce; lack
‒ 65 ‒
 Topics for the Power Point presentations
1. Economic environment. Goods and services.
2. Economic activity. Producers and consumers.
3. Major economic questions.
4. Different kinds of resources and the importance of scarcity.
5. Communication skills: formulas of etiquette.
6. A personal expense chart.
7. A personal budget.
8. A monthly budget.
9. Regular and irregular income.
10. Fixed, optional and flexible expenses.
11. The problem of pocket money in British versus Russian families.
12. Who control the money coming into the families?
13. Money management in Russian versus foreign households.

‒ 66 ‒
2 OPPORTUNITY
COSTS & TRADEOFFS

Contents

2.1 Lead-in Section overview

2.2 Language Input Developing vocabulary
2.3 Background Information Opportunity Costs
and Tradeoffs
2.4 Comprehension Understanding the reading
Reviewing the concept
2.5 Speaking & Writing
Language focus Saying numbers
Presenting information Evaluating tradeoffs
Communication skills Agreeing / disagreeing / saying
you partly agree
2.6 Dialogue Sixteen is a crucial age
2.7 Reading for Cross-cultural The British Educational System
Associations
2.8 Role-play Consumer skills: The Value of
College Education
2.9 Grammar Back Up Practice with Verbs (I):
Present Simple and Present
Continuous
Past Simple and Past Continuous
Practice with Quantity
‒ 67 ‒
 SECTION OVERVIEW
This section will help you understand that every economic choice
involves opportunity cost. You will learn to evaluate tradeoffs
involved in your economic decisions.

2.1 LEAD-IN
Discuss the following questions in pairs or groups; make use of
the prompts in brackets.
1. Why must people make choices about what they want most?
(limited resources, to be scarce, limited supply, the best alternative)
2. What happens when you choose between buying a laptop or a
mobile?
(to want, to give up, to make a choice, to make a decision)

2.2 LANGUAGE INPUT

assume v принимать; предполагать,
допускать
He assumed responsibility Он принял на себя
for the costs. ответственность за издержки.
assumption n предположение, допущение
on the assumption исходя из предположения
The choice depends on the Выбор зависит от
assumptions made about предположений, сделанных
real costs. исходя из реальных затрат.
available adj доступный; имеющийся в
распоряжении, наличный
Any resources used for one Какие бы то ни было ресурсы,
thing are then no longer использованные по одному
available for something else. поводу, уже отсутствуют в
наличии для использования
по-другому.
cost v стоить
cost n цена, стоимость, себестоимость
real cost чистая (действительная)
стоимость (за вычетом потерь)
‒ 68 ‒
 We try to assume the real cost
of building this bridge.
opportunity cost
Every economic choice
involves opportunity cost.
costs n
real costs
The various resources used in
producing a good or a service
are the real costs of that
product.
count v
to be counted in terms of ...
All production involves a cost
which is counted not only in
terms of money but also in
terms of resources used.
cover v
to cover the cost
Assume you could obtain a
loan to cover the cost of your
further education.
convince v
Think about the economic
reasons you could use to
convince a banker to lend you
the same sum of money now
instead of financing your
college education.
Мы пытаемся предположить,
какова будет стоимость этого
моста за вычетом потерь.
цена альтернативного
использования
Любой экономический выбор
влечет за собой утрату возмож-
ности альтернативного
использования.
расходы, издержки (в том числе
судебные)
затраты производства
в натуральном выражении
Разнообразные ресурсы,
используемые для производства
товара или услуги, – это
затраты на производство в
натуральном выражении.
считать, подсчитывать
исчисляться в ...
Любое производство имеет
себестоимость, которая
исчисляется не только в
денежном выражении, но и в
использованных ресурсах.
покрывать, охватывать,
предусматривать, обеспечить
покрытие (денежное)
покрывать стоимость
Представьте, что вы могли бы
получить ссуду, чтобы покрыть
стоимость вашего дальнейшего
образования.
убеждать, уверять
Подумайте о том, какие эконо-
мические причины вы могли бы
использовать, чтобы вместо фи-
нансирования учебы в колледже
убедить банкира одолжить вам
ту же сумму денег сейчас.
‒ 69 ‒
evaluate v
You will learn to evaluate
tradeoffs involved in your
economic decisions.
fit v
When the society understands
the true costs of making one
decision rather than another, it
can make the decision that
best fits its values and goals.
give up v
The value of time, money,
goods and services given up
in making a choice is called
opportunity cost.
gain v
to gain advantages
The tradeoffs involved in
going to college include
using time and money now to
gain greater advantages in the
future.
improve v
Opportunities are chances to
improve our situation.
involve v
Each choice involves
opportunity cost.
‒ 70 ‒
оценивать, определять стоимость
Вы научитесь оценивать
альтернативы принятия того
или иного экономического
решения.
соответствовать, приводить
в соответствие
Когда общество поймет
реальные издержки принятия
именно данного решения, оно
сможет принять решение,
которое будет лучше
соответствовать его ценностям
и задачам.
оставить, отказаться, бросить
Стоимость временных затрат,
денежных средств, товаров и
услуг, от которых пришлось
отказаться при выборе,
называется ценой
альтернативного использования.
получать, приобретать,
извлекать прибыль
получить преимущества
Если вы делаете выбор в пользу
учебы в колледже, вы тратите
время и деньги сейчас, чтобы
получить большие
преимущества в будущем.
улучшать, совершенствовать,
с толком использовать
Возможность – это шанс
совершенствовать нашу
действительность.
включать в себя, содержать,
предполагать, вовлекать
Любой выбор включает в себя
цену альтернативного
использования.
job n
full-time job
part-time job
The opportunity costs of
going to college involve a
loss of income from a full-
time job and a loss of
practical job experience.
level n
The chart shows lifetime
earnings estimates for
Americans based on their
levels of education.
lose v
loss n
opportunity n
obtain v
(training, loan)
Some young people will
choose to go to college; some
will want to get full-time jobs;
others will decide to obtain
technical job training.
power n
lifetime earning power
‒ 71 ‒
дело, работа, заказ, профессия
работа с полным рабочим
днем работа с неполным
рабочим днем, неполная
занятость
Цена альтернативного выбора в
пользу колледжа включает в
себя потерю дохода от работы с
полным рабочим днем и отсут-
ствие практического опыта.
уровень
В таблице дана оценка
пожизненных доходов
американцев исходя из их
образовательного уровня.
терять, утратить, лишиться, не
воспользоваться, нести убыток
потеря(и), убыток, утрата,
ущерб
удобный случай, благоприятная
возможность
получать, приобретать
(подготовку, ссуду)
Некоторые молодые люди
выберут учебу в колледже,
другие – работу с полным
рабочим днем, еще кто-то
решит получить
профессионально-техническую
подготовку.
способность, возможность,
право;
сила, мощность, производительность
(возможный) пожизненный
доход
reason v
reasoning
Economic reasoning helps
young people make better
choices.
require v
Since every economic
decision requires a choice,
economics is a study of trade-
offs.
return n
investment return
Could you invest $30,000
now forego a college
education, and with your
investment returns still have
the same lifetime earning
power as a college-educated
person?
seek v
to seek solutions
tradeoff n
tradeoff v
When choices are made to
accept having less of one
thing in order to get more of
something else, the results are
called tradeoffs.
рассуждать (логически), делать
выводы; урезонивать;
обосновывать
аргументация, доводы,
объяснения
Экономические доводы
помогают молодым людям
делать более удачный выбор.
требовать, приказывать;
нуждаться в чем-либо
Поскольку каждое экономичес-
кое решение требует выбора
(оптимального варианта),
экономика – это наука об
альтернативном выборе.
доход, прибыль, выручка; возврат
прибыль на капиталовложение,
на инвестицию
Могли бы вы сейчас
инвестировать во что-либо
$30000 вместо того, чтобы
потратить их на получение
высшего образования, и
получить такой же пожизненный
доход, как человек с высшим
образованием?
искать, добиваться, просить
искать приемлемые решения
компромисс, альтернатива,
выбор
поступиться чем-либо
Когда вы решаете получить
меньше чего-либо одного для
того, чтобы иметь больше чего-
либо другого, результатом
является компромисс.
‒ 72 ‒
value n ценность, оценочная стоимость,
цена, величина
value v оценивать, ценить
vary v менять, разнообразить;
variety n отличаться
разнообразие, множество,
разновидность
various adj
различный, разнообразный,
разносторонний, неустойчивый
worth n ценность, цена, стоимость
worth adj имеющий ценность, стоящий,
приносящий доход
Make sure whether college Убедитесь, что высшее
education is worth the образование стоит затрат,
expense taking into если сравнить положение и
consideration immediate and благосостояние человека сразу
future personal growth, после школы и в перспективе,
economic well-being and а также его пожизненный
projected lifetime earnings. доход.

‒ 73 ‒
 DEVELOPING VOCABULARY

2.2.1 Consult a dictionary, write out the transcription and practise

the pronunciation of the following words:
advantage
assume
assumption
available
bachelor
certificate
concept
convince
curriculum vitae
economic
economy
evaluate
experience
iron ore
machine
maintenance
opportunity
per annum
percentage sign
philosophy
postgraduate
projected lifetime earnings
qualification
reasoning
require
resources
society
ten per cent
to estimate
tuition
variety
various
vary
‒ 74 ‒
2.2.2 Match the English word combinations in the left-hand
column with the Russian equivalents in the right-hand
column:
1. on the assumption a. исчисляться в ...
2. to be available b. убедить кого-либо ссудить деньги
3. to assume the real cost of c. (ожидаемая) прибыль на
something инвестированный капитал
4. opportunity cost d. отказаться от чего-либо
5. the real costs of the e. работа полный рабочий день
product
6. to be counted in terms of f. образовательный уровень
something
7. to cover the cost g. потеря дохода
8. to convince somebody to h. исходя из предположения
lend money
9. to evaluate tradeoffs i. оценивать альтернативы
10. to fit values and goals j. возможный пожизненный доход
11. to obtain practical job k. затраты производства,
training выраженные в ресурсах
(в неизменных ценах)
12. to give up something l. требовать разных решений
13. to gain advantages m. альтернативная стоимость
14. to improve the situation n. искать приемлемые решения
15. full-time job o. неполная занятость
16. level of education p. ценить опыт работы по
специальности
17. loss of income q. стоить затрат на что-либо
18. lifetime earning power r. иметься в наличии
19. economic reasoning s. улучшить положение
20. investment returns t. соответствовать ценностям и целям
21. to require various u. экономические доводы
decisions
22. to seek solutions v. покрывать стоимость
23. to be worth the expense of w. получить профессионально-
something техническую подготовку
24. part-time job x. получить преимущества
25. to value practical job y. предположить стоимость чего-
experience либо за вычетом потерь
‒ 75 ‒
2.3 BACKGROUND INFORMATION
OPPORTUNITY COSTS
Opportunities are chances to improve your situation.
Opportunities, however, may cost you something. If you spend time
watching television, you cannot spend the same time in the gym. If
you buy a bicycle, you cannot spend the same money for a car.
All production involves a cost. This cost is not counted simply in
terms of money but also in terms of resources used. The various
resources used in producing a good or a service are the real costs of
that product. In building a bridge, for example, the real costs of the
bridge are the human, capital, and natural resources it consumes. To
build a bridge requires the labour of many people, including
engineers and construction workers. The capital resources these
people use include a variety of tools and machines. Building a bridge
also requires natural resources, such as iron ore and coal. These
natural resources are used to make the steel that is used in
constructing the bridge.
Since resources are limited and human wants are unlimited,
people and societies must make choices about what they want most.
Each choice involves costs. The value of time, money, goods and
services given up in making a choice is called opportunity cost.
When steel is used to make a bridge instead of a hospital, the loss
in hospitals is the opportunity cost of making the bridge. In fact, any
resources used for the bridge are then no longer available for
something else. When people make a choice between two possible
uses of their resources, they are making a trade off between them.
To make choices that best satisfy human wants, people must be
aware of all the tradeoffs. Then, society will understand the true
costs of making one decision rather than another, and can make the
decision that best fits its values and goals.
How can the concepts of opportunity costs and tradeoffs be used
to help explain how the economy works? One way is to construct a
simple plan of the economy called an economic model. The simple
plan helps economists to analyse economic problems, seek solutions,
and make comparisons between the economic model and the real
world. An economic model is a little bit like a model aeroplane. It
‒ 76 ‒
helps to explain how the real thing works, even if it doesn’t fly.
When models are used to help solve economic problems, their
usefulness depends on the assumptions made about the world.
One of the most important choices a society makes is between
producing capital goods and producing consumer goods. If a nation
increases its production of consumer goods, its people will live better
lives today. However, if a nation increases its production of capital
goods, its people may live better in the future.
Choosing between home computers and industrial robots is an
example of a choice a society must make. Society must decide what
it wants and what it is willing to give up to get it. The same applies
to you individually. Since every economic decision requires a choice,
economics is a study of tradeoffs. When you analyse each side of a
tradeoff, you can make better decisions.

2.4 COMPREHENSION
UNDERSTANDING THE READING
2.4.1 Give extensive answers to the questions. Use the following
expressions to start your answers:
I assume that ...; To my mind ...; There is no doubt that ...;
True enough it’s ...; Briefly, …; That goes without saying ...;
It seems to me there can be no two opinions about this ...;
1. Why must people make choices about what they want most?
What does each choice involve?
2. What is the link between economic choice and opportunity cost?
3. In what terms are the production costs counted?
4. What must people have knowledge of to make choices that best
satisfy human wants?
5. Why are economic choices necessary?
6. What is the difference between real costs and opportunity costs?
7. Why is it important for the society to be aware of tradeoffs when
making economic choices?
‒ 77 ‒
 8. When can a society make the decision that best fits its values and
goals?
9. Why is it necessary for a nation to make careful decisions about
how to allocate its resources?
10. Why is it necessary for an individual to make careful decisions
about how to allocate personal resources?
11. What does the usefulness of economic models depend on?

REVIEWING THE CONCEPT

2.4.2. Say whether these statements are true (T) or false (F),
and why.
e.g. True enough ... .
I assume it is false that ... because ... .
TF 1. All production involves a cost. This cost is counted only in
monetary terms.
TF 2. The various resources used in producing a good or a service
are the real costs of that product.
TF 3. In building a bridge the real costs of it are only natural
resources it consumes.
TF 4. Since resources are limited and human wants are unlimited,
people and societies must make choices about what they want
most.
TF 5. The value of time, money, goods and services given up in
making a choice is called opportunity costs.
TF 6. Any resources used for one thing now are then no longer
available for something else.
TF 7. To make choices that best satisfy human wants, people have
no need to take into consideration any tradeoffs.
TF 8. When people are aware of all the tradeoffs a society will
understand the true costs of making one decision than another,
and can make the decision that best fits its values and goals.
TF 9. One way of using the concepts of opportunity costs and
tradeoffs to explain how the economy works is to construct a
simple plan of the economy called an economic model.
TF 10. A simple plan of the economy called an economic model is
absolutely useless for the economists.
‒ 78 ‒
2.5 SPEAKING & WRITING

Language focus
2.5.1 Saying or writing out numbers
a. PER CENT

Find out about any bank, firm or educational institution. Answer

questions about percentages, like those below.
manual workers?
office workers?
What percentage of workforce are people under 30?
men and women?
people in their fifties?
Mind that the stress is on the cent of per cent : 10% – ten perCENT
% is “the percentage sign”.
We say ten per cent for 10% or 10pc.
10% p/a is read ten per cent per annum.
We say three and a half per cent for 3½%.
3.5% is read three point five per cent.
Notice the following when talking about interest rates:
 0.5% a half of one per cent
 0.25% a quarter of a percentage point
e.g. The Bank of England raised interest rates this morning by a
quarter of a percentage point (процентный пункт).
Say the following:
1. John’s overspending reached the peak of 1.5% .
2. Did you mention an increase of 0.5 per cent over last year?
3. They have put the rate up by another 0.5%.
4. 0.75% won’t make a lot of difference.
5. We spent 35% of total expenses on entertainment and only 29%
on food.
‒ 79 ‒
6. The expenses on my college supplies increased by 2% and
amounted to 10% of total expenditures.
7. What’s 3pc of 1360?
8. We’ll be able to give you a 2% discount off the value of the
contract.
b. HUNDREDS, THOUSANDS, AND MILLIONS
The words hundred, thousand, million, dozen, score, when
used of a definite number, are never made plural: ten thousand
dollars, two dozen eggs, three score businessmen.
If however, these words are used loosely, merely to convey the
idea of a large number, they must be made plural: hundreds of
people, dozens of times. In this case the preposition of is placed after
hundreds, thousands, etc.
A score of men lost their lives in the battle.
He sent scores of enthusiastic letters to friends
Of is not used with definite numbers except before the/them/
these/those or possessives: ten of these files, four of the manager’s
assistants, two of the new ones.
In British English you hear a hundred and twenty three
In American English you a hundred twenty three
usually hear
The number 1,999 is said one thousand nine hundred and
ninety nine
The year 1999 is said nineteen ninety nine
The year 2000 is said the year two thousand
The year 2001 is said two thousand and one
The year 2015 is said two thousand and fifteen or twenty
fifteen
Remember that 1066 is always referred to as ten sixty six – not one
thousand and sixty six.
1,000,000 is a million or ten to the power six (106)
1,000,000,000 is a billion or ten to the power nine (109).
This is now common usage. British English used to be that a billion
was ten to the power twelve (1012), but now everyone has accepted
the current American usage.
‒ 80 ‒
Say the following:
1. When we say 20 hundredweight1 it means one ton.
2. I know that you say 231 in Britain. In the States we say 231.
3. He gave 1001 explanations of the delay.
4. Output will have doubled by the year 2015.
5. Your advice is priceless. You’re one in 1,000,000!
6. Say it again! It’s 10,000,000,000 not 10,000,000!
7. He was born in 1900 and died in 1969.
8. For numbers between 1,000 and 1,900 it is common to say eleven
hundred instead of one thousand one hundred.
2.5.2 This table shows how words are formed from the stem
var-. List the words, look up the dictionary for their
meaning and transcription, and then use them to complete
the sentences.

y verb
able
ed adjective
var i ous
ety noun
ation
a. Conditions on that market are stable and do not ... very much
from year to year.
b. That seller handles a very ... selection of products, including
apples, toys and cars.
c. It is often difficult to classify the ... types of economic systems in
the world, because they tend to be mixed so often.
d. The managers of that company hope to increase the ... of products
which they offer for sale to the public.
e. There has been little ... in price levels over the last five years.
f. Because prices on that market fluctuate considerably from week
to week, we say that they are ... .
1 Хандредвейт, центнер:

‒ short hundredweight (about 45.4 kg) американский (короткий) центнер;

‒ long hundredweight (about 50.8 kg) ‒ большой (английский) центнер;
‒ metric hundredweight (in the metric system) equal to 50 kg.
‒ 81 ‒
2.5.3 Practise these words and word combinations. Fill in the
blanks with possibility, opportunity, chance1.
1. We do not often have ... of making the right choice.
2. I had ... to work as a baby-sitter or waiter, the problem was to
evaluate tradeoffs.
3. The Dean announced that Professor Forester didn’t feel well and
there was a ... that the lecture would be cancelled.
4. Believe it or not, but David’s English is so poor that he has no ...
of passing the exam.
5. Have you ever considered ... of changing the title?
6. Everybody knows that ... may cost you something.
7. If a person has more than two choices, then more than one ... cost
also exists.
8. The ... of writing a thesis and becoming a PhD never came to his
mind.
9. We are pleased to give you the … of tasting Fine Asian Cuisine
at our Rickshaw Restaurant.
10. Equality of … is a political ideal that is opposed to caste hierarchy.
11. That was a golden … for Harper & Grant Ltd., and of course the
Managing Director couldn’t pass it up.
12. I met the careers adviser by … .
13. I advise you to accept the offer. It is the … of a lifetime.
14. The best graduates had an … to go to one of the Ivy League1
Universities and study full-time.

1 Possibility is hardly ever used with the verb have, it is simply something possible.

Opportunity means a favourable moment or occasion. It is often used:

a) in the constructions: the / an opportunity of doing something / to do something
an opportunity for smb. to do something / an opportunity for something equality of
opportunity;
b) with the verbs: have, find, get, take, make the most of, miss, waste, give, provide,
afford, offer;
c) with the following adjectives: good, excellent, wonderful, golden, welcome, rare,
unique. Chance is often used in the same sense as “opportunity” in informal style.
‒ 82 ‒
Presenting information
2.5.4 Consider the following situations. Think about opportunity
costs. Write two paragraphs to explain that these choices
involve tradeoffs. Use the phrases:
I’d like to focus your attention to ... . Хотелось бы обратить ваше
внимание на ... .
If to put it in a nutshell ... . Короче говоря, ... .
There is another point I should Хотелось бы еще сказать
like to make ... . следующее ... .
On the whole ... . В целом ... .

a. A worker is currently earning $400 for a 40 hour week. The

management offer a 12% wage increase or a basic wage of $410
and a reduction in the working week to 38 hours. What is the
opportunity cost if the worker chooses a 38 hour week?
(A) 2 hours
(B) 38 hours
(С) $38
(D) $48
b. A woman bought a car for $7000 but would like a new model
costing $8200. She could obtain $5900 if she sold her car. What
is the opportunity cost of her owning her current car?
(A) $1100
(B) $1200
(С) $5900
(D) $8200

1 “Лига плюща” ‒ группа самых престижных частных колледжей и универ‐

ситетов на северо‐востоке США: Йельский университет (Yale University),
Дартмутский колледж (Dartmouth College), Колумбийский университет
(Columbia University), Пенсильванский университет (University of Pennsylvania),
Принстонский университет (Princeton University), Корнелльский универ‐
ситет (Cornell University), Гарвардский университет (Harvard University) и
Университет Брауна (Brown University), известные высоким уровнем обу‐
чения и научных исследований. Название связано с тем, что по английской
традиции стены университетов ‒ членов Лиги увиты плющом.
‒ 83 ‒
Communication skills
ANNEX
Some useful hints on agreeing / disagreeing / saying you partly agree.
Style Agreeing Disagreeing Saying you partly agree
Yes, I agree... (Oh), I don’t agree... I don’t entirely agree
True enough. I’m not at all sure, … with...
That’s right. Actually / in fact … I see your point, but...
I can’t help thinking Not really. I see what you mean, but...
the same. I disagree (I’m afraid). To a certain extent, yes,
How true. That’s not right, but...
Neutral

I couldn’t agree more. surely. There is a lot in what you

How right that is. I can’t agree with... say, but...
Oh, definitely. I can’t help thinking... That’s one way of looking
Couldn’t put it better But isn’t it more a at it, but...
myself. matter of...? Yes, but on the other
Do you really think... hand...
? Up to a point I agree with
you, but ...
Well, that’s the thing. (Oh), surely not. Could be, but...
Well, this is it, isn’t it? I don’t see why. OK, but...
Too true. I can’t go along with Yes, but...
Informal

I’d go along with you ... Mm, but...

there. (Oh), come off it. I’d go along with most of
That’s a wonderful Nonsense! that, but...
idea! Rubbish! No way!
That would be You must be joking.
marvellous! You can’t mean that!
Oh, I agree entirely. I really must take Well, while I agree with
I absolutely agree issue with you (there). you on the whole, ...
with... (I’m afraid) I can’t There is some / a lot of
My own opinion accept... truth in what you say.
exactly. I can’t say that I share Still / however, ...
I’m of exactly the your view. I agree in principle, but...
same opinion. I’m not at all That may be so, but...
Formal

I don’t think anyone convinced. Granted, but...

could / would I see things rather Personally, I wouldn’t go
disagree with... differently myself. so far as (to say) that ... .
I agree with you I can’t quite go along I appreciate your point of
most strongly. with you there. view, but ...
I really must object to
that comment you
know.
‒ 84 ‒
2.6 DIALOGUE
a. Replace the Russian words and phrases by suitable English
equivalents in the appropriate form.
Mr. Ward: Happy birthday, Alan, and many happy returns of the
day! I say, dear, sixteen is a crucial age. This is when you have to
decide whether to stay at school, to go on to college, to look for
(работа с полным рабочим днем), or to start a Youth Training
Programme. This should be a decision that will best (соответст-
вовать ценностям и целям).
Alan, his son: That’s right. I can’t help thinking the same. Our
school careers adviser spoke to us about gaining employment and
said that more and increasingly skilled workers would be
(требоваться) in a job market.
Mr. W.: Oh, definitely. You’d better ask your tutor for advice. The
decision you make will affect the rest of your life. It’s very
important (оценить) time and money you (отказываться) in
making a choice. By the way, what does your school careers
adviser teach you?
A.: We learn to fill out a CV (curriculum vitae)1, write letters
applying for a job, because for most of my schoolmates this is
uncharted territory2. He also teaches us (искать приемлемые
решения) and apply economic (доводы) about (цена) and
(альтернатива) to possible decisions.
Mr. W.: I see what you mean, but there is another point I should like
to make. Does your adviser think that everyone should attend
college or somehow (улучшать) their (образовательный
уровень)? Why or why not?
A.: He says that the proportion of young people entering university
and other advanced education (предположительно) will reach 1
in 3 in the near future. But while attending college I’ll get neither
income nor (опыт практической работы). Won’t it be (потеря)
of time for very little money?

1 Автобиография.
2 Область непознанного.

‒ 85 ‒
Mr. W.: No way! Going to college means using time and money
now (получить большие преимущества) in the future. Besides,
I know that some of the students receive awards (покрывать
стоимость) tuition and maintenance. Also parents usually
contribute if they can afford it.

A.: They say students can (получить) interest-free loans1 through

the Students Loans Company.

Mr. W.: How right that is! I know that the Government also
guarantees a place on the Youth Training Programmes to those
who are not in (работа с полным рабочим днем) or education.

A.: It reminds me of the proverb: “We should live and learn, but by
the time we’ve learned, it’s too late to live”.

Mr. W.: That’s one way of looking at it, but there is another proverb
which is more (убедительный): “Money spent on the brain, is
never spent in vain”.
b. Read the dialogue again and find out the facts about
 the work of school careers advisers
 the sources of income for the students
 the value of education
 the ways for the parents to contribute to their children’s choice
of future profession

c. Make your own dialogue and compare the information

contained in the dialogue with your present day life. Look at
the British academic qualifications below. Are qualifications
similar in your country? Use the helpful phrases given in
italics.

1 Беспроцентная ссуда.

‒ 86 ‒
WATCH OUT: translator's “false friends”.
high school – higher school
d. Look up the dictionary to find the difference between the
word combinations high school and higher school. Match the
words with their meaning.
1. high A Universities and colleges which provide education
school beyond high school.
2. higher B In the UK the term is used chiefly in names of
school grammar schools or independent fee-paying
secondary schools.
C Universities or similar educational establishments,
especially to degree level.
D In the United States, it is a school for children
usually aged between fourteen and eighteen.
e. Fill in the blanks with high or higher.
1. It was an 18-year-old inner-city1 kid who dropped out of …
school.
2. An understanding of opportunity costs and tradeoffs is
especially important to … school students when they are in
grades 9 through 12.
3. Sooner or later … school students must make choices about
what to do after the secondary school.
4. According to the UNESCO definition, any institution of …
learning which prepares specialists on the basis of a complete
secondary education, regardless of the volume of knowledge or
level of qualification it gives its students, is considered a …
school.
5. The term “… school” includes universities, polytechnical and
branch institutions (of engineering, agriculture, economics,
medicine, law, pedagogy, art, and others), academies, and other
institutions.
1 Район трущоб (“город в городе”) ‒ бедный район, обычно в центральной

части крупного промышленного города.

‒ 87 ‒
f. Make a sociological investigation of inequality in educational
attainment1. What explains the persistence of class inequality
in educational attainment? Cover the following points in your
3-minute Power Point presentations:
1. Social background and school continuation decisions.
2. Educational attainment and social mobility.
3. Gender-specific trends in the value of education and the emerging
gender gap in college completion.
4. The growing female advantage in college completion.
5. The role of family background and academic achievement.

2.7 READING FOR CROSS-CULTURAL 

ASSOCIATIONS
Read the excerpt below. Discuss how it compares with the situation
in Russia. Search the Internet for further information.
The British educational system has much in common with the
European system, e.g.:
 There are three main stages of schooling:
1) primary school (infant schools are for children between the ages
of 5 and 7; junior schools for those between the ages of 8 and 11);
2) secondary schools are for pupils between the ages of 11 and 18;
3) further and higher education (colleges of further education,
technical colleges, colleges of higher education, universities).
 Full-time education is compulsory for all children.
 Compulsory education is free of charge.
But parents may choose a private school and pay for educating
their children. According to the statistics 93% of British pupils
receive free education, the others attend independent schools
financed by the fees made by their parents.
 The academic year begins at the end of the summer.

1 Уровень образования; образовательная подготовка.

‒ 88 ‒
 There are two routes young people can follow after the age of 16:
one is based on school and college education, whereas the other is
work-based learning. About 70% of young people choose to continue
in full-time education after the age of 16. Broadly speaking, they
may decide in favor of further (vocational) or higher education.
Vocational courses are concerned with the teaching of job-related
skills, while the higher education sector provides a great variety of
courses up to degree and postgraduate degree level, as well as carries
out research. As for the government its major objective is to increase
the number of students who enter into higher education: it is assumed
that the more young people study at degree level, the more likely the
nation will succeed economically.
The British academic year at university is divided into three
terms, roughly eight to ten weeks each. The British students have
their vacations at Christmas (one month), at Easter (one month), and
in summer (three or four months). The courses are “full-time” which
really means full-time, i.e. the students are not supposed to take a job
during term time.
Students studying for the first degree are called undergraduates.
At the end of the third (fourth) year undergraduates sit for their
examinations to take the bachelor’s degree. The students engaged in
the study of history, languages, economics and law (arts subjects)
take Bachelor of Arts (BA). Students studying medicine, dentistry,
technology or agriculture (pure or applied sciences) get Bachelor of
Science (BSc). When students are awarded the degree, they are
known as graduates. Those who get their Bachelor degree can apply
to take a further degree course. It involves a mixture of exam courses
and research.
There exist two types of postgraduate courses:
1) the Master’s Degree (MA or MSc). It takes one or two years;
2) the higher degree of Doctor of Philosophy (PhD). It takes two or
three years. Funding for postgraduate courses is so limited that
even students who obtain first class degrees may be unable to get
a grant. As a result a great number of postgraduates have heavy
bank loans or are working to pay their way to higher education.
‒ 89 ‒
Table 1

Secondary School Qualifications

Secondary school (at age 16): GCSEs1, usually in six or more
subjects.
Secondary school (at age 18): A levels2, usually in three subjects.
University Degrees
First Degrees:
B.A. BA /A.B. (Bachelor of Arts)3
B.Sc./B.S. (Bachelor of Science)4
B.F.A. (Bachelor of Fine Arts)5
B.B.A. (Bachelor of Business Administration)6
Higher Degrees:
MA (Master of Arts) / MSc (Master of Science)/ M.F.A (Master of
Fine Arts)
PGCE (Postgraduate Certificate of Education)
MBA (Master of Business Administration)
MEd (Master of Education)
PhD (Doctor of Philosophy, doctoral degree/doctor’s
degree/doctorate)7
D.Sc. (Doctor of Science, also abbreviated Sc.D., S.D.)8

1 Для экзаменов на общее свидетельство о среднем образовании – GCSE и

свидетельство о среднем образовании продвинутого уровня – GCE A‐levels
многие школы предлагают на выбор не менее 20 предметов.
2 Сокр. от Advanced Level – экзамен по программе средней школы второго

уровня сложности – на повышенном уровне (сдается по окончании шестого

класса; результаты этого экзамена учитываются при поступлении в уни‐
верситет).
3 Гуманитарные науки.
4 Естественные науки.
5 Искусство.
6 Управление.
7 Присуждается как в области естественных, так и гуманитарных наук, cлово

Philosophy означает “наука вообще”. Принято считать, что степень доктора

философии соответствует русской ученой степени кандидата наук.
8 Не требует проведения специальных исследований или написания диссер‐

тации и присуждаются по совокупности заслуг известным деятелям науки:

D.Sc. (естественные науки); Doctor of Letters, сокр. Lett.D. (гуманитарные
науки); Doctor of Laws, сокр. L.L.D. (юриспруденция). Сочетание senior
doctorate может передавать русское понятие степени доктора наук.
‒ 90 ‒
2.8 ROLE-PLAY
Consumer skills
THE VALUE OF A COLLEGE EDUCATION
Situation
You consider the costs and tradeoffs connected with a decision to go
to college.
What you must decide:
Make sure whether college education is worth the expense taking
into consideration immediate and future personal growth, economic
well-being and projected lifetime earnings.
Cast
Student A
Student B
Student C
Student D
Split into groups of four students.
Student A
You assume that an understanding of opportunity costs and tradeoffs
is important personally to high school students, as well as everyone
else. Sooner or later high school students must make choices about
what to do after graduation. The questions you try to clear out are:
What is the general relationship between a person’s education and
that individual’s earning power? What is a college degree worth?
How valuable is post-college schooling? Remind your partner of a
proverb: “Easier said than done”.
Make use of the helpful phrases:
 I say, ... .
 To put it briefly, ... .
 You have a point there, but ... .
 Frankly speaking, I assume that ... .
 It’s an open secret that ... .
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Student B
You think that the proverb “Easier said than done” is just your case.
Every year millions of students graduate from high school. The
decisions they make will affect the rest of their lives. Some will
choose to go to college; some will want to get full-time jobs; others
will decide to obtain technical job training. In every case, economic
reasoning will help students make better choices. You are convinced
that your further education is worth the time and money involved,
moreover, the higher education sector provides a great variety of
courses. Give at least two reasons to support your decision.
Make use of the helpful phrases:
 I can’t help thinking the same.
 How right that is!
 By the way, ... .
 To put it another way, ... .
 No, I don’t think ... .
 Anyway, … .
Student C
You see what your interlocutor means, but you want to know what
would happen if the actual tuition and other costs of a college
education were invested now. Try to find out if you could invest
$30,000 now, for instance, forego a college education, and with your
investment returns still have the same lifetime earning power as a
college educated person. You decide to consider the costs and
tradeoffs connected with a decision to go to college. Is a college
education worth the expense in terms of immediate and future
personal growth and economic well-being? It leaps to your eye that
the opportunity costs of going to college involve a loss of income
and a loss of practical job experience while attending college. Your
parents warned you that the trade-offs involved in going to college
include using time and money now to gain greater advantages in the
future.
‒ 92 ‒
Make use of the helpful phrases:
 I see what you mean, but ... .
 To put it mildly, ... .
 I really must take issue with you (there).
 Dead right.
 I believe ... .

Student D
You suggest using the chart, which shows lifetime earnings estimates
for Americans, based on their levels of education from the print-out
of Census Bureau. The chart compares the effect of education on
projected lifetime earning for males and females. Discuss how much
more a male school graduate can expect to earn than a male who
does not graduate.
Find out how much more a female high school graduate can expect
to earn than a female who does not graduate. Discuss the tradeoffs.
Make use of the helpful phrases:
 I’d like to focus your attention on ... .
 That’s one way of looking at it, but ... .
 To speak plainly, ... .
 That’s not the way I see it.
 I guess … .

Education and Earning Power1

Education Level Projected Lifetime Earnings
Males Females
Less than 12 years $845,000 $500,000
High school $1,041,000 $634,000
1–3 years college $1,155,000 $716,000
4 years college (degree) $1,392,000 $846,000
5 or more years college $1,503,000 $955,000

1 Source: Census Bureau.

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 Making a Decision
In coming to a decision, consider the following points:
 The interconnection between a person’s education and that
individual’s earning power.
 The costs of getting higher education.
 Tradeoffs connected with a decision to go to a higher
educational institution.
What other factors should be discussed?

Your decision:

Key to 2.5.4
a. Answer C
12-процентное увеличение заработной платы при 40-часовой
рабочей неделе даст увеличение на $400  12 : 100 = $48.
Поэтому рабочий, который выберет 40-часовую рабочую
неделю, будет зарабатывать $400 + $48 = $448. Таким обра-
зом, если рабочий выберет 38-часовую рабочую неделю и
зарплату в $410, он теряет $38.

b. Answer C
Цена альтернативного использования в данном случае – это
цена упущенной возможности. Оставив свой собственный
автомобиль, женщина теряет возможность получить за него
$5900.

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2.9 GRAMMAR BACK UP
PRACTICE WITH VERBS (I)

LEAD-IN
Verbs indicate a point in time or period of time in the past, present or
future. Verbs must agree in number and person with the subject. The
verb may consist of a single word or a main verb with one or more
auxiliary words.
Exercise 1
a. Familiarize yourself with the text and use the present simple
of the verbs in brackets. Consult the Grammar notes below.
b. Translate the text into Russian.
Today Mr. Grant’s secretary, Elizabeth Corby, (to get) a
telephone call from a man called George Duncan. He (to have) an
introduction to Harper & Grant from a mutual acquaintance, Jock
Macpherson. Mr. Duncan is only staying in London for a few days
and he (to telephone) to fix an appointment to see Mr. Grant.
Elizabeth (to tell) him that Mr. Grant is very busy and (to suggest) a
later date. But Mr. Duncan, who is rather short-tempered, (to expect)
that he can have an appointment whenever he (to want) one. He also
(to ask) if he can see over the factory itself to see how some of the
office furniture is made. Elizabeth (to have) a good secretary’s sixth
sense that this might be a valuable customer, so she finally (to fix) an
appointment for him at half past three this afternoon. When Mr.
Grant (to come) into the office she tells him about the appointment.
As Mr. Grant (to be) so busy, she (to suggest) that she herself should
show Mr. Duncan round the factory. Mr. Grant reluctantly (to agree)
to see him. He also (to remember) that the mutual acquaintance, Jock
Macpherson, is a great talker who in the past has wasted a lot of time
and then bought very little. He (to think) that perhaps his friend, Mr.
Duncan, will be the same, so he (to warn) Elizabeth to interrupt the
interview after a short time with the excuse that there is someone
else waiting to see him.
‒ 95 ‒
c. Write positive or negative short answers.
1. – Does Elizabeth get a telephone call from a – Yes, she
man called George Duncan? does.
2. – Doesn’t Mr. Duncan have an introduction to – Yes, he does.
Harper & Grant from a mutual acquaintance? (Mr. Duncan
has an introduc-
tion to Harper
& Grant)
3. – Is Jock Macpherson a mutual acquaintance of – No, he isn’t.
Mr. Duncan and Elizabeth Corby?
4. – Isn’t Mr. Duncan staying in London for a – No, he isn’t.
long time?
5. – Does Mr. Duncan telephone to fix an – …
appointment to see Mr. Grant?
6. – Doesn’t Elizabeth suggest him a later date – …
because Mr. Grant is very busy?
7. – Is Mr. Duncan rather short-tempered? – …
8. – Can Mr. Duncan have an appointment with – …
H. Grant whenever he wants one?
9. – Can’t Mr. Duncan see over the factory to see – …
how some of the office furniture is made?
10. – Does Elizabeth fail to have a good – …
secretary’s sixth sense that this might be a
valuable customer?
11. – Doesn’t she finally fix an appointment for – …
him at half past six this afternoon?
12. – When Mr. Grant comes into the office does – …
she tell him about the appointment?
13. – As Mrs. Corby is so busy, does she suggest – …
that Mr. Grant should show Mr. Duncan round
the factory?
14. – Is Mr. Grant happy to see Mr. Duncan? – …
15. – Isn’t Jock Macpherson a great talker? – …
16. – Does H. Grant forbid Elizabeth to interrupt the – …
interview after a short time even with the excuse
that there is someone else waiting to see him?
‒ 96 ‒
Exercise 2
Show polite interest in what your partner says:
M o d e l:
– Jock Macpherson has wasted a lot of time and then bought very little.– Has he?
– Mr. Duncan isn’t a great talker like his friend Jock Macpherson. – Isn’t he?

1. Elizabeth shows the visitor round the works.

2. Mr. Duncan visits different departments of the factory, or shops
as they are called.
3. After the visit to the factory Mr. Duncan goes to see Mr. Grant.
4. Mr. Duncan has indicated that he wishes to place a large order
for office furniture for his new office block which is completing
construction in Scotland.
5. As agreed, after a short time Elizabeth interrupts the interview.
6. Mr. Grant is no longer interested in escaping from his visitor.
7. Elizabeth is not at all surprised by H. Grant’s sudden change of
attitude.
8. Elizabeth knows her boss very well.
9. Harper & Grant Ltd. have all the administrative departments in the
office block: Sales, Accounts, Personnel, and so on.
10. Larger items of office equipment are stored in the warehouse.
11. The firm keeps a stock of the faster-moving items so that urgent
orders can be met quickly form the stock.
12. Mr. Grant assures M. Duncan that they make the best furniture
on the market.
13. Mr. Duncan wonders if the production of Harper & Grant Ltd is
the cheapest on the market.
14. Harper & Grant Ltd have a wide range of prices.
15. Mr. Grant thinks their prices compare favourably with anything
on the market.
16. The prices depend on the lines the customers choose.
17. We can’t supply you from the stock.
18. I am the Managing Director of G.P. Duncan & Company.
19. We make artificial fertilizers.
20. I want our new office block furnished.
21. We can give you a quotation, including delivery charges.
22. Two months is our deadline.
23. I never like promising a date until I know I can honour it.
‒ 97 ‒
 PRACTICE WITH PRESENT SIMPLE
AND PRESENT CONTINUOUS
Look up a Grammar book and find answers to the following questions:
 What does the Present Simple denote?
 What does the Present Continuous denote?

1. Is the verb used in the continuous form? What is the difference

between stative and dynamic verbs?
We call a few verbs like love stative because they refer to
“states”. A state has no beginning and no end. We don’t “control“
it, so we don’t normally use stative verbs in continuous (progressive)
tenses.
I think you are right.

We can describe three classes of verbs:

 Dynamic verbs which have simple or progressive forms (most
verbs in English):
I often speak to our Works Manager. I’m speaking to him now.

 Verbs which are always stative:

This quotation belongs to me.

Verbs that have stative or dynamic uses:

They are looking (a deliberate action) at her in anger
because she looks (a state) awful.
Society sees the true costs of making one decision rather than
another. (see = understand)
There are five groups of stative verbs referring to:
 Feelings (like, love, hate,…)
 Thinking/believing (think, understand, believe, mean, suppose,
know, remember, denote, assume, forget, realise,…)
 Perception (hear, see, smell, sound, taste,…)
 Wants (want, prefer, need, desire,…)
 Being/having/owning (appear, seem, belong, possess, owe,
own, … etc.)
‒ 98 ‒
Note! Some of the above verbs have more than one meaning: we can
see these verbs in the continuous when they describe actions:

Simple uses: Continuous uses:

I think (=believe) you are right Sch! I’m thinking! (think=use the
mind)
Do you see what I mean? Are you seeing the doctor today?
(=understand)

Note! Verbs of physical feeling (feel, ache, hurt, etc.) can be used
in either the continuous or simple forms.
I feel ill. I am feeling ill.

Exercise 1
Complete the sentences. Use the present simple of the verbs in
brackets:
1. Jet engines (make) a lot of noise.
2. She (work) from Monday to Friday. She (not / work) at
weekends.
3. We (not/come) from Canada. We (come) from the USA.
4. All production (involve) a cost.
5. The capital resources (include) a variety of tools and machines.
6. A producer (to make) the goods or (to provide) the services that
consumers (to use).
7. Scarcity (to force) you to decide what you want most.
8. When a person (to make) a choice between two possible uses of
his resources, he is making a tradeoff between them.
9. If a nation (to increase) its production of consumer goods, its
people will live better today.
10. Since every economic decision (to require) a choice, economics
is a study of tradeoffs.
‒ 99 ‒
Exercise 2
Complete the questions in the present simple. We use do/does to
make questions and negative sentences. Mind that there is no
inversion in subject-questions and they have the same word order
as the statement (e.g. Who knows how to write an abstract?).
1. If you need money, why ... (you / not / get) a job?
2. I don’t understand the word “tradeoff”. What ... (tradeoff /
mean)?
3. This decision is perfect. Why ... (you / not / evaluate) my choice?
4. Who ... (understand) the true costs of making one decision rather
than another?
5. Since resources are limited and human wants are unlimited, who
... (make / choices) about people’s wants?
6. If you make choices that best satisfy your wants, what ... (you /
to be aware of)?
7. As each choice involves costs, how ... (we / call) the value of
time, money, goods and services given up in making a choice?
8. If a person has a lot of choices, then how many ... (opportunity
costs / exist)?
9. If economic models are used to help solve economic problems,
what ... (their usefulness / depend on)?

Exercise 3
Choose the correct form.
e.g. We produce / are producing capital goods and consumer goods.
1. We use various resources when we produce / are producing
goods or services.
2. They count / are counting the costs not only in terms of money,
but in terms of resources used.
3. We always make / are making choices between people’s wants
and needs.
4. When people make a choice between two possible uses of their
resources they make / are making a tradeoff between them.
5. We always require / are requiring natural resources when we
are building a bridge.
‒ 100 ‒
 6. Everybody assumes / is assuming that this decision is the best to
fit the goal.
7. Economists always seek / are seeking solutions and make / are
making comparisons between the economic model and the real
world.
8. My friend makes / is making careful decisions now because he
knows how to allocate personal resources.
9. When we talk about “the national labour force” we think / are
thinking of all those people available for work within the nation.
10. People always lose / are losing their money when they start their
own business without special education.
11. He is trying / tries to find a job at the moment, he must do
something to earn a living.
Exercise 4
Translate the following sentences:
1. Мы всегда вычисляем стоимость производства в денежном
выражении, а также учитываем использованные ресурсы.
2. Существует разрыв между тем, что люди хотят иметь и мо-
гут иметь.
3. Экономист всегда подсчитывает издержки производства в
денежном выражении и соотносит их с использованными
ресурсами.
4. Когда мы начинаем какое-то строительство, то всегда нуж-
даемся в определенных ресурсах.
5. Экономическая модель помогает специалистам анализиро-
вать экономические проблемы, искать и находить решения.
6. Я не знаю человека, который разговаривает с директором-
распорядителем.
7. Поскольку принятие каждого экономического решения тре-
бует выбора, мы рассматриваем науку экономику как изуче-
ние компромиссов.
8. Секретарь не видит, что я на нее смотрю, так как читает что-
то с большим интересом. Она выглядит такой занятой.
9. Позвоните ему сейчас. Я думаю, что он еще не беседует с
клиентом.
‒ 101 ‒
10. Это склад, где обычно содержится крупногабаритное обору-
дование. Сейчас мы держим там запас товаров, пользую-
щихся повышенным спросом, чтобы можно было выполнять
срочные заказы со склада.
11. Количество студентов, получающих различные пособия или
временные доходы от выполнения каких-либо поручений,
постепенно (gradually) возрастает.
12. Он слушает аудиозапись в наушниках (to wear earphones),
поэтому больше никто ее не слышит.
13. Сколько я Вам сейчас должен?
14. Посмотри! Этот раздел состоит из целого ряда граммати-
ческих упражнений.

PRACTICE WITH THE PAST SIMPLE

AND THE PAST CONTINUOUS
1. Is the past simple used correctly?
a. We use this tense to talk about actions and situations in the past.
The development committee arranged everything.
He decided to invest his capital in the new
enterprise two years ago.
b. The past simple denotes an action performed within a period of
time which is already over. The time of action may be indicated
by adverbial of past time (yesterday, a week ago, last year, ...
etc.)
Some years ago my parents couldn’t afford a loan
to cover my education.
c. The past simple denotes a succession of past actions.
The buyers saw the display of the machines and sent
an inquiry to the firm.
d. When “who”, “what”, or “which” is the subject of a past simple
question, we do not use “did”.
Who made a choice between two possible uses of resources?
‒ 102 ‒
2. Is the past continuous used correctly?
a. The past continuous is often used after such phrases as “the whole
day“, “all day long”.
They were discussing a very important project the whole day.
b. The past continuous is used to denote an action thought of as a
continual process. In this case the adverbs “always”, “ever”,
“constantly” are used. The past continuous is to be found in
emotional speech.
The prices were constantly rising!
One couldn’t keep up with them!
Exercise 1
Choose the correct form.
e.g. They opened / were opening a new account last week.
1. The capital resources included / were including a variety of
tools and machines.
2. The society understood / was understanding the true costs of
making one decision rather than another.
3. He was always losing / always lost his money when he provided
capital for new businesses.
4. Formally the term “market“ denoted / was denoting a place set
aside for buying and selling.
5. He realised / was realising the real costs of things and found the
right solution.
6. When John studied / was studying at college he had to make
very important decisions.
7. People who were willing to sell a commodity contacted / were
contacting people who were willing to buy it.
8. The engineers discussed / were discussing the scheme at the
meeting the whole day.
‒ 103 ‒
 9. The manager of the repair department explained / was explaining
the poor quality of the work by the lack of the qualified
workmen.
10. He spoke / was always speaking too fast. I could hardly
understand half of what he said then.
11. When she read / was reading a new labour contract, she found it
necessary to increase wages.
12. Mother stared / was staring out of the window; she seemed
deep in thought.
Exercise 2
Look at the underlined verbs in each sentence. Choose the form
of the verb that is incorrect.
1. Several thousand workers at the plant were threatening to go on
strike unless the company was improving its latest pay offer.
2. We were listening to the sound of voices in the corridor, then the
door opened and Mr. Dent was appearing.
3. When the society was understanding the true costs of making one
decision rather than another it could make the best decision.
4. This section helped us to understand that every economic choice
was involving opportunity cost.
5. These students worked the whole summer and earned enough
money to satisfy their wants in clothes and leisure.
6. Since we had limited resources and unlimited wants people and
societies had to make choices about what they were wanting
most.
7. They drew the family budget with their adult children and the
younger children tried to make choices about what they were
needing most.
8. If your coat was wearing out in a year, it certainly wasn’t good
value.
Exercise 3

Identify the one underlined word or phrase that must be

changed in order for the sentence to be correct.
‒ 104 ‒
1. They both studied the quotation carefully; so was the man
(A) (B)
three tables away, who was watching them both carefully.
(C) (D)
2. If you are desiring to buy a new house, give up all the needless
(A) (B) (C) (D)
expenses.
3. You always buy a lot of essential goods from us. Can we assume
(A) (B)
that we sold them more cheaply than other shops?
(C) (D)
4. As John wrote the report, Peter was looking for more precise
(A) (B) (C) (D)
information.
5. A mixed economy is one with a combination of nationalism and
(A) (B) (C)
private enterprise and fit the goals of many producers.
(D)
6. When I worked for the Japanese I always was making silly mistakes.
(A) (B) (C) (D)
7. The supporters of this economic model are assuming that the
(A) (B)
principle of supply and demand is more effective than
(C)
government control in regulating the economy.
(D)
8. This company was producing a wide range of high-quality
(A) (B)
leather goods which are always available to customers and fit the
(C) (D)
customers’ values.

9. Many companies are trying to cut labour costs and gradually

(A) (B)
reduce their work force now.
(C) (D)
‒ 105 ‒
10. The manager’s eyebrows were moving up and down like the
(A) (B)
Dow-Jones index in an election year – he was always sounding
(C) (D)
like a textbook.

Exercise 4
Render the following into English:
1. Гектор Грант понимал важность внедрения на новый рынок,
но он тогда боялся потерять время и потратить деньги, а
получить очень незначительную прибыль.
2. Стоимость жизни повышается по мере того, как растут
цены, а также увеличивается плата за квартиру (rents) и
проезд в транспорте (fares).
3. Старый мистер Грант основал дело, и фирма крепко встала
на ноги, когда ему удалось заключить крупный контракт на
поставку оборудования для правительственных офисов.
4. Гектор Грант внимательно слушал своего коммерческого ди-
ректора, но не спешил принимать решение. Он всегда коле-
бался, когда дело касалось больших затрат.
5. Когда я работал в коммерческом отделе, я вечно делал
ошибки.
6. Резюмируя сказанное (короче говоря), разнообразные ресур-
сы, используемые для производства товара или услуги, – это
затраты на производство в натуральном исчислении.
7. – Наш школьный советник по профориентации разговаривал
с нами о том, как найти работу. – Это было бы великолепно!
8. Не могу сказать, чтобы я разделял твою точку зрения. Твои
родители предупреждали тебя, что если пойти в колледж, то
ценой этого будут затраты денег и времени в данный момент
для получения больших преимуществ в будущем.
9. Все утро, когда Том обслуживал клиентов, он думал о том,
сколько он может заработать.
10. – Пока я разговаривал с миссис Саймон, кто-то вошел в мой
офис и украл компьютер. – Ты шутишь!
‒ 106 ‒
 PRACTICE WITH QUANTITY

When we talk about quantity we use such words as:

some , any all, every, each
much, many, a lot, (a) little, (a) few both, either, neither
no, none more, most, half
Ask yourself these questions when checking quantity words:
1. Is the word order correct?
a. We can use these words (except “none”, “a lot”, “half”) directly
before a noun.
Have you got any money?
Both choices are equal.
There are some expenses involved.
b. We can use these words (except “no”, “every”) before of + the,
her, your, this, etc. + noun.
Either of the choices will satisfy human wants.
Neither of them accepted the offer. Both the partners were busy.
Half (of) my friends earn their living.

After “all”, “half” and “both” we can leave out “of” before
“the”, “her”, “my”, “your”, “this”, etc.
Both of the tradeoffs were evaluated.

But after “all”, “half”, and “both” we can’t leave out “of”
before an object pronoun.
– Have you counted the opportunity costs? – Not all of them.
2. Should “some” or “any” be used?
a. We use any after the words with a negative meaning (without any,
hardly any).
You can’t make a choice between two possible uses of your
resources without any opportunity cost.
‒ 107 ‒
b. We normally use any in “open” questions ( we don’t expect a
particular answer).
Have you got any information?
But we use some in questions when expect people to say “yes”.
Have you got some information? (I think you have it).
We also use some in questions when we want to encourage
people to say “yes” (in requests and commands).
Can you lend me some money?

3. Should “many”, “much”, “a lot (of)”, “(a) little”, or “(a) few”

be used?
a. We use much and (a) little with uncountable nouns, and “many”
and “(a) few” with plural countable nouns.
much information many tradeoffs
(a) little money (a) few problems
We use “a lot of”, “lots of” with both uncountable and plural
countable nouns.
a lot of money a lot of choices
lots of milk lots of questions
plenty of time plenty of jobs
(a lot / lot = a great quantity or number;
plenty = more than enough)
b. We use much and many mostly in questions and in negative
sentences.
How much work do you have?
Has he got many problems?
I haven’t got much money.
But we often use “much” and “many” after “too”, “as”, “so”,
“very”.
I’ve spent too much money.
I’ve got so many jobs today.
Note: The plan is much too complicated.
c. A little and a few are positive ideas. A little means a small
amount, but some; a few means a small number, but some.
I’ve got a little money, so I could lend you some if you want.
I think he cashed a check a few minutes ago.
‒ 108 ‒
d. Little and few, without a are more negative ideas. Little means not
much or almost no; few means not many, almost no.
It is an extremely poor country: it has few natural resources and
little good agricultural land.
e. Little and few, without a are rather formal. In everyday speech, it
is more common to use “not much”; “not many”, “only a little (a
few)”, or “hardly any” (= “almost no”).
I’ve got very little money.
I’ve got not much money.
Hardly any students passed the exam.

4. Should “no” or “none” be used?

a. “None” is a pronoun, we use it alone, without a noun.
– How many concepts of opportunity costs are used to explain
how the economy works? – None.
b. Before “my”, ”this”, ”the”, etc. or an object pronoun (“us”,
“them”) we use none of.
None of the problems were serious enough.
None of us have any money.
c. When we use “none of” with a plural noun, the verb can be
singular or plural. A singular verb is more formal.
None of the costs is / are counted in terms of money.

5. Are “all” and “whole” used correctly?

“Whole” means “complete” or “every part of it”. It is normally
used with singular countable nouns.
I’ve spent the whole day trying to catch him, but he wasn’t
available.
We can use “the”, ”my”, ”this”, etc. with “all” and “whole”, but
the word order is different.
Compare: all day – the whole day; all my life – my whole life.
We can use “a whole” before a singular noun.
We spent a whole day together.
But we don’t use “whole” with uncountable nouns.
All the future personal growth is taken into consideration.
(Not: The whole growth ...)
‒ 109 ‒
6. Should we use “both”, “either”, or “neither”?
a. “Both” = “the two together” or “one and the other”. We use
“both” before a plural countable noun.
Both concepts seemed deep and right.
We use “both of” before “the”, “your”, “these”, etc. + plural
noun and we often leave out “of”.
Both (of) these choices involve costs.

Note: We cannot leave out “of” before the plural object

pronouns: you, us, them.
Both of them have to earn their living.
We can use “both” after an object pronoun.
I consider them both very skilled workers.
b. “Either” / “neither” are used before a singular countable noun.
“Either” = “one or the other”; “neither” = “not one or not the other”
Either production involves costs.
Neither choice is justified.
“Either of” / “neither of” are used before your, these, the, etc.+ a
plural countable noun or before the pronouns you, us, them.
Either of these producers makes goods and provides services.
Neither of them could answer major economic questions.
Note: After “neither of” we can use a singular or a plural verb.
Neither of the costs is / are counted in terms of money but
also in terms of resources used.
Neither of the resources used for the bridge is / are available
for something else.
But: A singular verb is more common in a formal style.
c. We use “both”, “either”, “neither” to link the ideas in the structures:
both ... and ...
either ... or ...
neither ... nor ...
This cost is counted both in terms of money and in terms of resources
used.
We can either buy a car or spend our money for a stereo.
Neither land nor water belongs to consumer goods.
‒ 110 ‒
Exercise 1
Choose the correct pronoun and complete the sentence.
1. People and societies don’t have much / many natural resources
and must be aware of all the trade-offs.
2. Every / each opportunity cost is the value of time, money,
resources and labour.
3. All / every people make choices about what they want most.
4. We have got all the / the whole information about the construction
of this plant.
5. Another / other natural resources are available and used by
construction workers.
6. Unfortunately, a few / few economic models help economists to
analyse economic problems and solve them.
7. Nothing / none of the decisions were correct and justified.
8. Don’t you have little / a little money to lend me?
9. There are hardly some / any students in your group who need
financial help to attend college.
10. One can’t make a choice between two possible uses of resources
without some / any opportunity cost.
11. No / neither of these economic models fits our goals. Try to find
a better one.
12. The managers made quite a number of promises before the
meeting, but haven’t kept either / kept none.
13. The two workshops look very much alike but frankly speaking I
don’t like both of them / either.
14. I have telephoned Mr. Grant three times this week and I reckon
I’ve mentioned Mr. Macpherson’s reference every / each time.
Exercise 2
Fill in the blanks. Complete the sentences using the following
quantity pronouns (Some of them can be used twice.):
‒ 111 ‒
A. any D. plenty of G. some (2) J. (a) little
B. a few E. a lot of (2) H. others/other K. both ... and
C. neither (of) F. either I. both (of) L. some other
1. After graduation from high school _____ young people choose to
go to college; _____ want to get full-time jobs, _____ decide to
obtain a technical job training.
2. What are _____ considerations in making a choice?
3. You can’t make a choice between two possible uses of your
resources without _____ opportunity cost.
4. _____ decision school graduates make affects the rest of their
lives.
5. I know that you’ve got _____ money. Could you lend me _____?
6. Young people have _____ opportunities today to earn their
living, but they don’t always make the most of them.
7. _____ of us has any chance for research in our new jobs.
8. _____ the concepts of opportunity costs and tradeoffs are used to
explain how the economy works.
9. If a person has _____ choices then more than one opportunity
cost exists.
10. The capital resources these people use include _____ a variety of
tools _____ machines.
11. If you spend _____ time watching TV you cannot spend the
same time at the library.
Exercise 3
CONTEXT
Task 1
a. Read the conversation between Mr. Ward and his son Alan. In
eight of the lines there is one wrong word or word
combination. Other lines, however, are correct.
 If a line is correct, put a tick () in the space in the right-
hand column.
 If there is a mistake in the line, use the correct word.

‒ 112 ‒
Ward: I say, dear, sixteen is a crucial age. This is when every young 1
man and girl have to decide whether to stay at school, to go on to 2
a college, to look for a job, or to start a Youth Training Programme. 3
Alan: Well, that’s the thing! Our tutor says that every have to think 4
about gaining employment in a job market which demands 5
more and increasingly skilled workers. 6
Ward: In my youth little young people studied for “A” and “AS” level 7
qualifications. I hear it is a more frequent practice nowadays. 8
Alan: True enough. These are two-year courses in single subjects. 9
Students
will usually take either two nor three subjects which may be 10
combined
with one or two “AS” courses. These are offered by both schools and 11
colleges. 12
Ward: Yes, but on the other hand, if you need some advice, ask a School 13
careers adviser. Some advisers teach much useful skills: e.g. filling 14
out a curriculum vitae, writing letters, applying for a job, because 15
for many young people this is unchartered territory. 16
Alan: Yes, but on the other hand, higher education is attractive, too. 17
I have heard that the proportion of young people entering 18
university and
other advanced education is expected to reach 1 in 3 in the near 19
future.
But while attending college I’ll get no income and no any practical 20
job
experience, and lose some time and a lot of money. 21
Ward: No way! Going to college means using time and money now 22
to gain greater advantages in the future. I know that any 23
students on first degree and comparatively advanced courses 24
receive both awards covering tuition and maintenance. 25
Alan: How right that is! Most parents also contribute, but that depends on 26
their income. They say students are granted some interest-free loans 27
through the Student Loans Company. Besides, the Government 28
guarantees a place on the Youth Training Programmes to every of us 29
who is not in full-time education or in work. 30
Ward: On balance, to a certain extent education is worth the expense, 31
especially, if the objective is to gain greater advantages in the future. 32
‒ 113 ‒
b. Look back at 2.6. Say in what way the information given in
these exercises differs.
Exercise 4
Change the words in italics into plural references. Mind that we
use they, them without a plural meaning to refer to both sexes.
M o d e l:
Everyone knows whom he reports to, doesn’t he?
Everyone knows whom they report to, don’t they?

1. Anyone planning to furnish his office should give some idea of his
requirements, shouldn’t he?
2. We knew that no one had met his delivery dates.
3. If anybody wants to get the details of the contract he can ask the
Sales Manager.
4. Everyone gets what he deserves, even if he doesn’t like what he
gets.
5. One must spend money if he wishes to make money.
6. Everybody knows that urgent orders can be met from stock, doesn’t
he?
7. Ask anyone you know who he thinks makes the best furniture on
the market and he’ll say it’s our firm.
8. If anyone wants a quotation he can dial 946 88 62.
9. Nobody wants to be told that he is going to be dismissed.
10. The best investment anyone starting out in business could make is to
give all his time, all his energies to work, just plain, hard work.
Exercise 5
Fill in the gaps with the suitable word combinations from the
box.
a a little c a few e many g both i some k any
b a lot of (2) d few f much h no j anything l little
‒ 114 ‒
 Two years ago I moved to a new neighbourhood. There seem to
be very ... (1) ... people in this area who are without telephones, so I
expected to get a new phone quickly.
I applied for one as soon as I moved into my new house, “We
aren’t supplying ... (2) ... new phones in your area,” an engineer told
me. ... (3) ... people want new phone at the moment and the company
is employing fewer engineers than last year so as to save money. A
new phone won’t cost you ... (4) ... money, but it will take ... (5) ...
time. We can’t do ... (6) ... for you before December. You need ...
(7) ... patience if you’re waiting for a new phone and you need ... (8)
... friends whose phones you can use as well.
Fortunately, I had ... (9) ... . December came and went, but there
was ... (10) ... sign of a phone. I went to the company’s local office
to protest. “They told me I’d have a phone by December,” I
protested. “Which year?” the assistant asked.

1 2 3 4 5 6 7 8 9 10

Glossary
assume v 1. to believe (something) to be true without actually
having proof that it is; suppose
2. to take or claim for oneself; begin to have or use
assumption n 1. something that’s is taken as a fact or believed to
be true without proof
2. the act of assuming
available adj able to be had, obtained, used, seen, etc.
cost v to have an amount of money as a price
cost n the amount of money paid or needed for buying,
doing, or producing something
real cost the worth of something after all losses have been
deducted
‒ 115 ‒
opportunity cost the amount that a factor of production could have
earned if put to another us
costs n the cost of taking a matter to a court of law, esp.
as ordered to be paid by the side that lost the case
to the side that won it
real costs various resources used in producing a good or a
service
count v 1. to say or name the numbers in order, one by one
by groups
2. to name or take note of (all the units belonging to
a group) one by one in order to find the whole
number in the group; total
cover v 1. to place something upon or over (something) in
order to protect or hide it
2. to deal with or take into account
3. to be enough money for
convince v to make someone completely certain about
something; persuade
evaluate v to calculate or judge the value or degree of
fit v 1. to be the right size or shape (for)
2. to be suitable (for)
give up v 1. to stop having or doing
2. to stop attempting something; admit defeat
gain v to obtain (something useful, advantageous, wanted,
profitable, etc.)
improve v 1. to make better; bring to a better or more
acceptable state
2. to get better
involve v 1. to cause (someone or oneself) to become
connected or concerned
2. to have as a necessary part or result; entail
job n 1. regular paid employment
2. a piece of work
3. something hard to do
4. one’s affair; duty
full-time job a job when a person works during the whole of the
usual working period
part-time job a job when a person works during only a part of the
regular working time
level n a general standard of quality or quantity
‒ 116 ‒
loss n 1. the act or an example of losing or failing to keep
something
2. the amount by which the cost of an article or
business operation is greater than the income it
produces
lose v 2. to no longer have (something) as a result of
carelessness or accident
3. stop possessing
4. to fail to keep; not to continue to have
opportunity n a favourable moment or occasion
obtain v to become the owner of , esp. by means of effort or
planning
power n 1. control over others; influence
2. right to act, given by law, rule, or official position
3. ability to have physical effect; force; strength
lifetime earning possible income a person can earn during his or her life
power
reason v 1. to use one’s reason
2. to form an opinion based on reason
3. to persuade (someone) to do/not to do
reasoning the use of one’s reason
require v 1. to need or make necessary
2. to demand by right; give an order (for or to), with
the expectation that it will be obeyed
return n 1. the act or an example of returning
2. the act of giving, putting, or sending something
back
3. an amount of money produced as a profit
an amount of money earned from the purchase of
investment return materials, machines, property, securities, etc
seek v 1. to make a search for; try to find or get something
2. to ask for; go to request
3. to try; make an attempt
tradeoff n a balance between two (opposing) situations or
qualities, intended to produce an acceptable or
desirable result
tradeoff v to exchange one thing for another
‒ 117 ‒
value n 1. the usefulness, helpfulness, or importance of
something, esp. in comparison with other things
2. the worth of something in money or as compared
with other goods for which it might be exchanged
3. worth compared with the amount paid
value v 1. to calculate the value, price or worth of
2. to consider to be of great worth; esteem
vary v 1. to be different; have qualities that are not the
same as each other
2. to (cause) to become different; change, esp.
continually
3. group to which it belongs
variety n 1. the fact of varying; difference in quality, type, or
character
2. a number or collection of different sorts of the
same general type
3. a particular type that is different from others in
various adj different from each other; of (many) different kinds
worth n value
worth adj 1. having the stated value
2. having possessions of the stated value
3. deserving of

Topics for the Power Point presentations

1. Opportunity costs and tradeoffs.
2. Economic choices a society makes.
3. Class inequality in educational attainment.
4. British academic qualifications.
5. British educational system.
6. Secondary School Qualifications.
7. University Degrees.
8. Education and Earning Power.
9. Social background and school continuation decisions.
10. Gender-specific trends in the value of education.
‒ 118 ‒
3 UTILITY, PRICES &
MARKETING STRATEGY 

Contents
3.1 Lead-in Section overview
3.2 Language Input vocabulary
3.3 Background Information Utility, Prices & Marketing
Strategy
3.4 Comprehension Understanding the reading
Reviewing the concept
3.5 Speaking & Writing
Language focus Saying numbers
Presenting information Letter-writing
Communication skills Envelope & a Letter Layout
3.6 Dialogue Pricing policies
3.7 Reading for Cross-cultural Shops, shopping and pricing
Associations policies in different cultures
3.8 Role-play Consumer skills: Comparing
prices
3.9 Grammar Back Up Practice with Verbs (II):
– Present Perfect
– Present Perfect Continuous
– Past Perfect
– Past Perfect Continuous
Practice with Adjectives
‒ 119 ‒
 SECTION OVERVIEW
According to our basic needs and additional individual wants we
require different kinds of commodities. The concept of satisfying a
want is known as “utility”. It is related to the number of factors and a
utility change is concerned with the consumer’s relation to a
commodity.

3.1 LEAD-IN
Discuss the following questions, make use of the prompts in
brackets.
1. What is the difference between our basic needs and our additional
wants?
(to satisfy a want, limited, unlimited, to be scarce, resources)
2. Is it possible for an individual to change prices of the goods he
wants?
(Stable / fixed prices, to gain advantages, to seek solutions, to be
worth the expense)

3.2 LANGUAGE INPUT

accept v принимать, допускать,
соглашаться
I don’t think the customer will Не думаю, что клиент согла-
accept the time limit in the сится на предельный срок,
contract. обозначенный в контракте.
advance n аванс, ссуда
to do something in advance делать что-либо заранее,
заблаговременно
Planning their expenditure, the Планируя свои расходы,
customers must accept fixed потребители должны прини-
prices since they are set in мать твердые цены, так как
advance. они устанавливаются заранее.
advertise v (for) рекламировать, делать
объявление о чем-либо
‒ 120 ‒
advertisement n
You should keep in mind that
advertisements usually
emphasize only the good
qualities of a commodity.
appropriate adj
Have we charged the
appropriate price this time?
bargain n
pl (bargains)
bargain v
bargain over something
In some cases it is possible for
a buyer to bargain over prices.
commodity n
The consumer’s desire for a
commodity tends to diminish
as he buys more units of it.
concern v
confuse v
Two economic notions, such as
utility and usefulness, should
not be confused.
consider v
After deciding what bread to
buy, consumers generally
consider price.
реклама, объявление
Следует помнить, что реклама
обычно подчеркивает только
хорошие качества товара.
соответствующий, подходящий,
уместный
Назначили ли мы в этот раз
подходящую цену?
сделка, соглашение, выгодная
покупка, дешевая покупка
сделки, проводимые на
бирже
торговаться о цене
договориться о чем-либо
В некоторых случаях у
покупателя есть возможность
торговаться по поводу цен.
товар, продукт
Желание потребителя иметь
товар уменьшается по мере
того, как он покупает больше
единиц этого товара.
касаться, иметь отношение
к чему-либо
смешивать, спутывать
Не следует смешивать два
таких экономических понятия,
как полезность и польза.
обсуждать, рассматривать, пола-
гать, взвешивать, учитывать
Приняв решение, какой хлеб
покупать, потребители
обычно рассматривают цену.
‒ 121 ‒
diminish v
The Law of Diminishing
Marginal Utility reflects the
relationship between the
consumer’s desire for a
commodity and its quantity
that the consumer already
possesses.
emphasize v
emphasis n
price emphasis
de-emphasis
evaluate v
Smart buyers must obtain
product information and then
compare and evaluate that
information.
excess n
In case there is an excess of
merchandise the relative
demand for it will diminish.
expenditure n
In case we always plan our
expenditure, it helps us not to
throw good money after bad.
interfere v (in)
It is possible to interfere in
market prices through price
controls and ration stamps.
‒ 122 ‒
уменьшать(ся)
Закон об убывающей
предельной полезности
отражает взаимоотношение
между желанием потребителя
иметь товар и тем количест-
вом этого товара, которым
уже владеет потребитель.
подчеркивать, придавать
особое значение
ударение, акцент, подчеркивание
политика акцентирования
цен для стимулирования
сбыта
ценообразование на основе
ощущаемой ценности товара
оценивать, давать оценку
Опытные покупатели должны
получить информацию о
товаре, а затем сравнить и
оценить ее.
избыток, излишек, превышение
При наличии избытка товара
относительный спрос на него
уменьшится.
расход(ы), затрата, трата
Если мы всегда планируем
свои расходы, это помогает
нам не выбрасывать деньги на
ветер.
мешать, вмешиваться
Существует возможность
вмешиваться в рыночные
цены посредством контроля
цен и введения продуктовых
карточек.
margin n
marginal adj
obtain v
Smart buyers must obtain
product information and then
compare and evaluate that
information.
option n
Consider the options available
when buying a loaf of bread.
pricing
loss-leader pricing
off-even pricing
Loss-leader and off-even
pricing (e.g. $49,95 instead of
$50,00) can produce a
favourable psychological effect
and make a consumer obtain a
product.
purchase n
purchase v
With each successive purchase
the consumer’s satisfaction
compensates less for the loss of
money.
‒ 123 ‒
разница (между себестоимостью
и продажной ценой), маржа
предельный
получать, добывать,
приобретать
Опытные покупатели должны
получить информацию о
товаре, а затем сравнить и
взвесить ее.
выбор (имеющихся в наличии
вариантов)
Покупая буханку хлеба,
рассмотрите имеющиеся в
наличии варианты.
ценообразование, система
ценообразования
установление очень низкой
цены на товар (“убыточного
лидера”) для того, чтобы
привлечь покупателей
установление цены, чуть
меньше круглой
Установление предельно
низкой цены или цены чуть
меньше круглой (т.е. $49,95
вместо $50,00) может
произвести благоприятный
психологический эффект и
заставить потребителя
приобрести товар.
покупка
покупать
С каждой последующей
покупкой удовлетворение
покупателя все меньше
компенсирует потерю денег.
quality n качество
quality level уровень качества
The quality level of a product Уровень качества товара
influences its price: the higher влияет на его цену: чем выше
the quality, the higher the качество, тем выше цена.
price.
quantity n количество, большое
количество
Buying in quantity can help us Покупка в больших количест-
spend less, as the larger the вах может помочь нам тратить
quantity, the less per unit cost. меньше, так как чем больше
количество, тем меньше цена
на единицу товара.
quote v назначать цену, котировать
rate n ставка; валютный курс;
уровень, темп роста
rate v оценивать
Vegetarians rate the utility of fruit Вегетарианцы очень высоко
and vegetables very highly. оценивают полезность фруктов и
овощей.
relate v устанавливать связь или
отношение между чем-либо;
относиться, иметь отношение,
касаться
Utility is related to our Полезность связана с нашими
decisions about priorities in решениями о приоритетах в
production. производстве.
relation n отношение, связь, зависимость
sacrifice v жертвовать
sacrifice n жертва, убыток
A point in time comes when Наступает момент, когда
the financial sacrifice is greater удовлетворение от потребле-
than the satisfaction of ния товара уже не оправды-
consuming the goods. вает финансовый убыток.
‒ 124 ‒
shortage n
In times of shortages the
governments can use price
controls to regulate the prices
for such items as foodstuffs
and gasoline.
stock n
The utility of a commodity
decreases as the consumer’s
stock of it increases.
surplus n
Equilibrium price is the point
when there is no surplus or
shortage so there is no
pressure on price.
tend v
unit n
Some stores indicate the unit
price for the items on the
shelves.
per unit cost
usefulness n
utility n
‒ 125 ‒
дефицит, нехватка, недостаток
Во времена дефицита
правительство может
применять ценовой контроль,
чтобы регулировать цены на
такие товары, как продукты
питания и горючее.
запас; акция
Полезность товара
уменьшается по мере того, как
его запас у потребителя
увеличивается.
излишек, избыток, прибыль
Равновесная цена – это такое
положение, когда нет ни
излишка, ни дефицита, а зна-
чит, нет и давления на цену.
иметь тенденцию
единица (товара)
Некоторые магазины указыва-
ют штучную цену на товары,
находящиеся на полках.
цена на единицу продукции
польза
полезность, практичность,
выгодность
 DEVELOPING VOCABULARY

3.2.1 Consult a dictionary, write out the transcription and practise

the pronunciation of the following words:
access
argument
characteristic
commodity
confuse
desire
determine
diminish
economical
economics
economists
economy
evaluate
excess
expenditure
gimmick
majority
marginal
medicine
minority
priority
purchase
quantity
relate
relative
relatively
sacrifice
submarine
successive
Switzerland
the increase
to bargain
to decrease
vegetarian
‒ 126 ‒
3.2.2 Match the English word combinations in the left-hand
column with the Russian equivalents in the right-hand
column.
1. to fix something in advance a. свободно иметься в наличии
2. to quote an appropriate price b. получить наилучший результат
3. advertising gimmicks c. покупать по действующей цене
4. to be freely available d. планировать расходы
5. an excess of a commodity e. получить информацию о товаре
6. to consider the options f. рассматривать имеющиеся в
available наличии варианты
7. to rate something highly g. покупать в больших количествах
8. to indicate the unit price for h. закон об убывающей предельной
the items полезности
9. to result in the best deal i. уменьшить запас
10. to evaluate the quality level j. политика акцентирования цен для
of a product стимулирования сбыта
11. to buy at the current price k. последующая покупка
12. to bargain over prices l. рекламные уловки
13. The Law of Diminishing m. вмешиваться во что-либо
Marginal Utility посредством чего-либо
14. price emphasis n. дефицит, нехватка, недостаток
15. to plan expenditures o. назначить соответствующую цену
16. to interfere in something p. установление низкой цены на
through something товар для привлечения
покупателя
17. to obtain product information q. указывать цену единицы товара
18. loss-leader pricing r. цена на единицу продукции
19. a successive purchase s. договориться о чем-либо заранее
20. to buy in quantity t. оценить уровень качества
продукции
21. per unit cost u. торговаться по поводу цен
22. to vary in relation to v. установление цены чуть меньше
something круглой
23. to decrease the stock w. изменяться по отношению к
чему-либо
24. shortage x. оценивать что-либо высоко
25. off-even pricing y. избыток какого-либо товара
‒ 127 ‒
3.3 BACKGROUND INFORMAITON
UTILITY, PRICES & MARKETING STRATEGY
According to our basic needs and additional individual wants we
require different kinds of commodities. Our basic needs are simple,
but our additional individual wants are often very complex.
Commodities of different kinds satisfy our wants in different ways.
A cake, a bottle of medicine and a textbook satisfy very different
wants. This characteristic of satisfying a want is known in economics
as “utility”. It is related to the number of factors and a utility change
is concerned with the consumer’s relation to a commodity.
Utility, however, should not be confused with usefulness. For
example, a submarine may or may not be useful in time of peace, but it
satisfies a want. Many nations want submarines. Economists say that
utility determines “the relationship between a consumer and a
commodity”.
Utility varies between different people and between different
nations. A vegetarian does not want meat, but may rate the utility of
bananas very highly, while a meat-eater may prefer steak. A
mountain-republic like Switzerland has little interest in submarines,
while maritime nations rate them highly.
Utility varies not only in relation to individual tastes and to
geography, but also in relation to time. In wartime the utility of bombs
is high, and the utility of pianos is low. Utility is therefore related to
our decisions about priorities in production. The production of pianos
falls sharply in wartime.
The utility of a commodity is also related to the quantity, which is
available to the consumer. If paper is freely available, people will not
be so much interested in buying too much of it. If there is an excess
of paper, the relative demand for paper will go down. We can say
that the utility of a commodity therefore decreases as the
consumer’s stock of that commodity increases.
In most economic systems, the prices of the majority of goods
and services do not change over short periods of time. In some
systems it is of course possible for an individual to bargain over
prices, because they are not fixed in advance. In general terms,
however, the individual cannot change the prices of the commodities
‒ 128 ‒
he wants. When planning his expenditure, he must therefore accept
these fixed prices. He must also pay this same fixed price no matter
how many units he buys. A consumer will go on buying bananas for
as long as he continues to be satisfied. If he buys more, he shows that
his satisfaction is still greater than his dislike of losing money. With
each successive purchase, however, his satisfaction compensates
less for the loss of money.
A point in time comes when the financial sacrifice is greater
than the satisfaction of eating bananas. The consumer will therefore
stop buying bananas at the current price. The bananas are unchanged:
they are no better or worse than before. Their marginal utility to the
consumer has, however, changed. If the price had been higher, he
might have bought fewer bananas; if the price had been lower, he
might have bought more.
It is clear from this argument that the nature of a commodity
remains the same, but its utility changes. This change indicates that a
special relationship exists between goods and services on the one
hand, and a consumer and his money on the other hand. The
consumer’s desire for a commodity tends to diminish as he buys
more units of it. Economists call this tendency the Law of
Diminishing Marginal Utility.
The interaction of buyers and sellers determines the price for
goods and services. If the price is too low, a shortage will develop,
thereby driving up the price. If the price is too high, a surplus will
develop and move the item’s price down. A society may interfere in
market prices by means of price controls and ration stamps. Price
controls are often used in times of severe shortages to make sure that
the prices for important items, such as food and gasoline, do not go
too high. The price of rental housing is controlled by law in some
American cities today. During World War II, people were issued
ration stamps for meat, butter, sugar, canned goods, shoes and
gasoline. Such a person was thus able to get the minimum amount of
these goods needed to survive. Price controls and ration stamps were
also discussed in recent years as a way of dealing with temporary
shortages in gasoline and heating oil.
In a market economy, prices are the result of the needs of both
buyers and sellers. The sellers will supply more goods at higher
prices than at lower ones. The buyers will buy more goods at lower
‒ 129 ‒
prices than at higher ones. Some price is satisfactory to both buyers
and sellers. At that price the supply – quantity offered for sale –
equals the demand – quantity people are willing to buy. Since no
surplus or shortage exists, there is no pressure on price to change.
This point is called an equilibrium price. At the equilibrium price,
the amount producers will supply and the amount consumers will
buy are the same.

3.4 COMPREHENSION
UNDERSTANDING THE READING
3.4.1 Give extensive answers to the questions. Use the following
expressions to start your answers:
The way I see it ...;
From what I know ...;
It’s absolutely true that ... ;
If I remember correctly …;
I’m sorry I don’t know much about it, but ...; .
1. What two ways are there of describing utility?
2. What example is used to show that utility varies from person to
person, from nation to nation and from time to time?
3. In what way is utility related to quantity?
4. What is the individual generally unable to change? Why?
5. Why does a customer go on buying a commodity? What happens
with each successive purchase?
6. At what point will the consumer stop buying the commodity at
the current price? What has changed when this point is reached?
7. What does a utility change indicate?
8. What tendency is called the Law of Diminishing Marginal
Utility?
9. Does a society interfere in market prices?
10. What is the reason for the introduction of price controls and
ration stamps?
‒ 130 ‒
 REVIEWING THE CONCEPT
3.4.2 Explain why these statements are true (T) or false (F).
e.g. I reckon it is true, since ... .
I am inclined to think it is false that ... because ... .

TF 1. The utility of a commodity is also related to the quantity

which is available to the consumer.
TF 2. The sellers will supply more goods at lower prices than
at higher ones.
TF 3. At the equilibrium price, the amount producers will
supply and the amount consumers will buy are different.
TF 4. Price controls are often used in times of severe
shortages to make sure that the prices for important
items, such as food and gasoline, do not go too high.
TF 5. If the price is too high, a surplus will develop and move
the item’s price up.
TF 6. Utility varies not only in relation to individual tastes
and to geography, but also in relation to time.
TF 7. If there is a shortage of paper, the relative demand for
paper will go down.
TF 8. If the price is too low, a shortage will develop, thereby
driving up the price.
TF 9. A society may interfere in market prices by means of
equilibrium prices.

3.4.3 Practise these words and word-combinations. Replace the

Russian words and phrases by suitable English equivalents
in the appropriate form. Translate the sentences into
Russian.
‒ 131 ‒
1. A product’s (полезность) may be very high in a certain part of
the world, while in a different part of the world the same product
isn’t (оценивать высоко).
2. (Закон об убывающей предельной полезности) is the name
which economists give to (тенденция к уменьшению) for a
consumer’s desire as he buys more units.
3. In the majority of systems prices are (твердые) but in the
minority it is possible (торговаться).
4. We know that a consumer’s (удовлетворение) is greater than his
(финансовая жертва) if he goes on buying a product (по
текущей цене).
5. Our wants are not (удовлетворять) in much the same way by all
goods.
6. When a consumer (планировать расходы), he must accept
(твердые цены).
7. With each (последующая покупка) however, the consumer’s
satisfaction compensates less for (потеря денег).
8. (Финансовая жертва) becomes too great when the quality of the
commodity gets worse.
9. The demand for the commodity goes down if (количество) of the
commodity increases.
10. Buyers must (получить) product information and then compare
and evaluate that information.

3.5 SPEAKING & WRITING

Language focus
3.5.1 Saying numbers
a. THE DECIMAL POINT
We separate large numbers with commas not stops. Commas may be
omitted from four figure numbers, but they are important in numbers
‒ 132 ‒
with five or more figures, since they make the structure of large
numbers clear.
2,075 or 2075 is two thousand and seventy five
1,225,375 is one million two hundred and twenty-five thousand three
hundred and seventy five
Decimals are indicated by a point (.) and not a comma (,)
Commas are used in figures only when writing thousands.
10,001 is ten thousand and one
10.001 is ten point oh oh one
A zero after a decimal point is often read “nought”, “zero” would
also be possible.
8.04 is eight point nought four or eight point zero four

NB! When accounts are prepared on computer, commas are not

used. The number appears as 82103.
In English all the numbers after a decimal point are read separately:
20.66 twenty point six six Not twenty point sixty six
0.774 nought point seven seven four
0.001 nought point oh oh one or 10–3 , ten to the power
minus three
You will also hear people say:
0.05 zero point oh five or oh point oh five
But if the number after the decimal point is a unit of money, it is
read like a normal number:
$12.50 twelve dollars fifty €2.95 two euros ninety five

NB! This is very important. When you do business on the

phone, say nought point three seven five (0.375) and not
nought point three hundred and seventy five. If the listener
missed the word point you might lose a lot of money. Say
the digits separately after the point.
‒ 133 ‒
Say the following:
1. He paid € 1234.90 in advance.
2. This shop quotes $79.90 instead of $80.00 per each dress. It’s
called off-even pricing.
3. It’s somewhere between 3.488 and 3.491.
4. Look, it’s less than 0.0001! It’s hardly worth worrying about.
5. I changed all those Indian rupees into pounds and I only got
13.60!
6. That’s about 14.50 in Swiss franks.
7. Did you say 0.225 or 0.229?
8. The dollar is at 1.95.
9. No, I meant 15.005 not 15,005.
10. The unit price for the items is $19.50.
What are these numbers in figures? Write them.
1. nought point one nought five of a metre
2. two point one eight pounds
3. one seven (or seventeen) point five six two tons
4. nought point two five (point two five) of a gram
5. one point two five tons
6. fourteen point one nought five meters
7. one point two five centimetres
8. one point three seven five kilograms
9. ten point two million barrels
10. nought point one six two five of a centimetre

b. NUMBERS AS ADJECTIVES
When a number is used before the first noun in the noun + noun
structure – like an adjective – this noun is always singular.
We say:
a fourty-five-minute lesson not a fourty-five minutes lesson.
‒ 134 ‒
Also:
a twenty-pound increase a five-dollar note
a fifteen-minute break a two-week waiting list
a sixteen-week semester a two litre bottle
a six billion dollar loss a two and a half litre engine
The number one is often left out
a pound note
In fractions, the plural -s is not dropped.
A two-thirds share
Note the use of the -s structure before worth.
A pound’s worth (£1’s worth) of apples.
Three dollars’ worth of grapes.

Say the following:

M o d e l:
– We had a break which lasted 10 minutes. – We had a ten-minute
break.

1. The period lasted 30 weeks. It was a ________________.

2. Our house is 200 years old.
3. We lost $50,000. (loss)
4. The fish weighed 15 pounds!
(weight)
5. We considered a margin of $45.
6. They lent us $25,000. (loan)
We bought a ____________.
We made a _____________.
I caught a _______________.
We considered a _________.
They gave us a __________.

‒ 135 ‒
Presenting information 
Communication skills
Business Letter Writing
Letters are still used, particularly by law firms and businesses, for
official (public) notifications, sometimes advertising. This is because
of three main advantages:
 No special device needed ‒ almost everybody has a residence
or other place at which he or she can receive mail. A mailbox is
all that the intended recipient needs, unlike e-mail or phone
calls, where the intended recipient needs access to a computer
and an e-mail account or a telephone respectively.
 “Catch-all” advertising ‒ unlike e-mails, where the recipient
needs an individual e-mail address to receive messages,
mailing shots can widely cover many or all addresses in a given
locality.
 Physical record ‒ important messages that need to be retained
(e.g. invoices; government notification such as tax or
immigration) can be kept relatively easily and securely.

3.5.2 a. Letter-writing: Envelope

You may prefer to send invoices in manila envelopes1, for
example, or mailshots2 in window-envelopes3 so that addressees can
be easily checked by the mail room. There used to be a certain
etiquette attached to the use of white or manila/brown envelopes, but
this has largely disappeared. Generally:
 Letters to businesses or job applications may be better received
in quality white envelopes.
 Letters of condolence or expressing bad news should be sent in
plain white envelopes.
 Decorated envelopes should be used only for friendly, personal
correspondence.
1 Конверт из желто‐коричневой оберточной (манильской) бумаги.
2 Рассылка рекламных материалов.
3 Конверт с прямоугольником из прозрачной бумаги (через который виден

адрес, напечатанный на письме).

‒ 136 ‒
How to address an envelope?
 Always type or write neatly.
Special Delivery
Do not use block letters other
than for the post town and
postcode.
Mrs J. Frost
84 New Lane  Always use a courtesy title –
KINGSTON Mr, Messrs, Mrs, Ms, Miss,
Middlesex
or other appropriate title, such
TW9 6AE
as Dr, Sir, etc.
 Start writing the name and
address about halfway down
and one-third of the way
across, leaving sufficient room
Sender’s address for postage stamps.
…………………..  Clearly mark any classification
………………..… (“Personal”, “Confidential”) or
Receiver’s address
despatch instruction (“Airmail”,
……………..……..
………………..….. “Special Delivery”) in the top
left corner.

b. Letter-writing: Letter Layout

Business letters should be typed and printed out on standard white
paper. The form of opening greeting (or salutation) should be:

Letter to: Start with:

Someone, whose name you don’t “Dear Sir”, “Dear Madam” or “Dear Sir
know, or whom you are addressing in or Madam”
their professional capacity
An entire company or department “Dear Sirs” or “Dear Mesdames” if all
the staff are female, otherwise “Dear
Sirs”
A named individual whom you do not “Dear Mr Jones” (or Mrs, Miss, or Ms),
know personally or “Dear Janet Smith”
A colleague, relative or friend “Dear Arthur” or “Dearest Angela”
‒ 137 ‒
Exhibit 1
Business name, Great West Road Directors:
or London W25 Ambrose Harper
Telephone 01-567-1112
Sender’s address
Telex 80153
(Chairman) HARPER &
or Hector Grant
Printed letter Telegrams Harp LON (Managing Director) GRANT LTD
heading William Buckhurst,
FCA (Secretary)
Margaret Wiles
Reference code Your ref;
Our ref: LW/MG

Date 18th October, 20…

Recipient’s name A. Mahawi

Recipient’s The commercial
address attaché,
British Embassy,
Avenue Liberty,
Djemsa, ABRACA.

Opening greeting Dear Sir,

Subject heading Special offer

Main body of the Find enclosed a copy of our latest catalogue and pricelist.
letter May I draw your attention to our new range of products
illustrated on page 21.
We are offering a special discount of 5 per cent on all orders
received before 1 March. Please use the special order forms at
the back of the catalogue and deduct 5 per cent from the prices
on our list.
We hope that you will be pleased with the catalogue and look
forward to receiving your order.
Complementary Yours faithfully,
close
Signature and John Martin
sender’s name
John Martin,
Sender’s position / Sales Manager
department name
Enclosures line Encl: 1

‒ 138 ‒
c. Write a letter to your teacher informing him/her that you
have studied Unit 3 carefully and made the summary of the
contents.
Put it into a suitable envelope and address it.
Render the text below to enclose it as your summary.
Исходя из материалов Раздела 3, основные нужды людей
очень просты: крыша над головой, еда, одежда. Но наши
индивидуальные дополнительные потребности достаточно
сложны. Согласно нашим основным нуждам и индивидуальным
потребностям нам необходимы различные виды товаров,
которые удовлетворяют наши потребности по-разному.
Экономисты определяют способность товара удовлетворять
желания как его полезность. Также экономисты считают, что
полезность определяет “взаимосвязь между потребителем и
товаром”. В основном покупатель не может изменить цены на
товары, которые он хочет купить. Эти цены установлены
заранее, что делает невозможным попытки торговаться по их
поводу. Планируя свои расходы, мы должны принимать эти
цены как данность. Быть мудрым покупателем и принимать
разумные решения о покупке продуктов никогда не бывает
легким делом. Разнообразие сортов, размеров, цен, рекламных
уловок оказывает на нас влияние, когда мы ходим в магазин и
выступаем в роли покупателя.
Итак, вывод:
1. Для того чтобы покупка товаров была для нас как для
покупателей успешной сделкой, нужно овладеть экономикой,
и эти умения будут служить нам всю жизнь.
2. Многие факторы влияют на наши решения по поводу
покупок.
3. Опытные покупатели должны собрать всю информацию о
товаре, сравнить и оценить эти данные, а также учесть, что
чем выше качество, тем выше цена.
‒ 139 ‒
3.6 DIALOGUE
3.6.1 a. Complete the text by using the following word
combinations from the box:

(1) to determine the number of sales, (2) to concern, (3) to

emphasize low prices, (4) off-even pricing, (5) to encourage sales,
(6) to increase the demand for, (7) stock, (8) to advertise, (9) price
de-emphasis, (10) to introduce new items of goods, (11) to charge
the appropriate price, (12) “loss leader” pricing, (13) to produce
a favourable psychological effect, (14) price emphasis

Brendon (B.) made a tradeoff between college education and

immediate economic well-being in favour of the latter and started the
business of his own, but he still needs advice from his friend Mary
(M.) who decided that further education is worth money and effort.
They are discussing a new line of products in Brendon’s shop.
B.: You know, the shop has been selling well since I started, but I
reckon that consumers may stop buying things if I don’t
________.
M.: Cor! Hasn’t your new line of merchandise ________ goods in
your shop?
B.: That’s what I wanted to talk to you about. I wonder if this time
we ________. Previous time the demand for the new ________
of merchandise dropped very quickly. Can you give some ideas
how to charge prices?
M.: If I remember correctly, there are two types of pricing policies:
________ and ________.
B.: Can you explain the difference?
M.: From what I know the price emphasis policy________. This
________ . But it has a weak point, I mean that low prices don’t
give extra services.
B.: True enough. With a really low price the customer will have no
credit, home delivery, repair, installation and other services.
‒ 140 ‒
M.: That’s what I mean. But many people are interested only in the
low price and not in the extra services.
B.: That’s one way of looking at it, but I have to think thoroughly
about it, because the price ________.
M.: You have my full support! A good example of price emphasis is
________ . It means that you choose one item and sell it at a
very low price. The customers who buy this “loss leader” can
decide to buy a few other things they need.
B.: It sounds interesting. What other things can you tell me about
pricing policy?
M.: There is also ________. For example, you sell cameras for
$79.95 instead of $80.00. Though it is in fact about the same, the
low price can ________.
B.: What are the other ways to attract the customers?
M.: You must start with especially low prices to compete with well-
known goods. Mind that it’s important ________ this. Please,
do consider my words carefully. You should use newspaper ads,
maybe do a big window and floor display.
B.: It makes sense. But I wonder if I can raise the price when my
customers get accustomed to a new brand.
M.: Yes. They will continue to buy it.
B.: I see. And what about the price de-emphasis?
M.: It ________ high quality expensive items. You don’t call
attention to the price at all.
B.: I take your point. I’m so grateful to you for your professional
hints. Don’t forget you have a discount on any shopping you do
in my shop.

b. Sum up different types of pricing policies:

a. “loss-leader” pricing
b. “off-even” pricing
c. price emphasis
d. price de-emphasis
‒ 141 ‒
c. Consider the letter below. Split into several groups and
comment upon the policy which the management of Corinthia
Palace Hotel adhere to. Make use of the italicised helpful
phrases from the dialogue.

Exhibit 2

CORINTHIA
PALACE HOTEL

*****
Dear Guest,

Special offer

On Wednesday, 2nd February, we are pleased to give you the
opportunity of tasting Fine Asian Cuisine at our Rickshaw
Restaurant when we will be offering you a menu, normally
priced at €35, at no supplementary charge to guests booked on
Half Board Basis.
Guests on Bed and Breakfast may opt for the same Set‐Menu or
the a la Carte Menu.
May we also take the opportunity to remind you that every
evening in the Caprice Lounge Bar, we hold a “Happy Hour”
between 18.00 and 19.00, during which all drinks, excluding
Champagne, are available at 30% discount.

We wish you an enjoyable experience,

The Management

‒ 142 ‒
WATCH OUT: translator's “false friends”
bribe-charges-commission-dues-fare-fee-honorarium-interest-
premium-rent-retainer-salary-toll-tuition-wage-ransome
3.6.2 a. Look up the dictionary to find the difference between
the words bribe, charges, commission, dues, fare, fee,
honorarium, interest, premium, rent, retainer, salary, toll,
tuition, wage. Match the words with their meanings.
1 bribe A 1. sum of money paid to a salesperson for every
sale that he or she makes
2. a fee for a providing a service, for example for
exchanging money or issuing an insurance policy
2 charges B sums of money that you give regularly to an
organization that you belong to, for example, a
social club or trade union, in order to pay for
being a member
3 commission C sum of money or something valuable that one
person offers or gives to another in order to
persuade him or her to do something
4 dues D money paid for a journey on public transport
5 fare E amount of money that a person or organization is
paid for a particular job or service that they
provide.
6 fee F 1. payment given for professional services that
are rendered nominally without charge
2. a fee that someone receives for doing
something which is not a normal part of their job,
for example giving a talk
7 honorarium G extra money that you receive if you have invested
a sum of money, it is also the extra money that
you pay if you have borrowed money or are
buying something on credit.
8 interest H 1. an amount to be paid for a contract of
insurance
2. a sum added to an ordinary price or charge
9 premium I amount of money that you pay regularly to use a
house, flat, or piece of land
‒ 143 ‒
10 rate J amount of a charge or payment with reference to
some basis of calculation
11 rent K fee that you pay to someone in order to make sure
that they will be available to do work for you if
you need them to
12 retainer L fixed regular payment, typically paid on a
monthly basis but often expressed as an annual
sum, made by an employer to an employee,
especially a professional or white-collar worker
13 salary M charge payable to use a bridge or road
14 toll N amount of money that you have to pay for being
taught particular subjects, especially in a
university, college, or private school
15 tuition O fixed regular payment earned for work or
services, typically paid on a daily/weekly basis
16 wage P amount of money you have to pay for a service.
17 ransom Q money that has to be paid to someone so that they
will set free a person they have kidnapped (a
captive).

b. Fill in the blanks in the text with bribe, charges, commission,

dues, fare, fee, honorarium, interest, premium, rate, rent,
retainer, salary, toll, tuition, wage. Translate the text into
Russian.
Price is all around us. You pay (1) … for your apartment, (2) … for
your education, and (3) … to your doctor or dentist. The airline, taxi,
and bus companies charge you a (4) … , the local services call their
price a (5) …; and the local bank makes you pay (6) … and (7) … for
the money they borrow. The price for driving your car on a
motorway is a (8) … and the company that insures you charges a (9)
… . The guest speaker charges you an (10) … to tell you about the
government official who took a (11) … to help some character steal
(12) … collected by the trade union. Your regular lawyer may ask
for a (13) ... to cover his/her services. The price of an executive1is a
(14) … , the price of a salesperson may be a (15) … , and the price of
a worker is a wage.
1 Должностное лицо, руководитель, администратор.

‒ 144 ‒
3.7 READING FOR CROSS-CULTURAL
ASSOCIATIONS
Read the excerpt below about shops, shopping and pricing
policies in different cultures. Make use of the information in the
role-play.
It’s very important to know where, how, and why people shop the
way they do. A special science teaches how to lure shoppers into the
high-margin1 areas of the shop, whose layouts, colour schemes, and
background music will most effectively hypnotize the ordinary
browser2 into a helpless purchaser.
Most of us do our food shopping in the supermarket. Americans
and many people throughout the world take supermarkets for
granted. Supermarkets are so much more than a convenient way to
shop. Certain products (typically staple3 foods such as bread, milk
and sugar) are occasionally sold as loss leaders. To maintain a profit,
supermarkets attempt to make up for the lower margins by a higher
overall volume of sales, and with the sale of higher-margin items.
Customers usually pay for the merchandise at the check-out. At
present, many supermarket chains are attempting to further reduce
labor costs by shifting to self-service check-out machines, where a
single employee can oversee a group of four or five machines at
once, assisting multiple customers at a time.
Most supermarkets are similar in design and layout due to trends
in marketing. Fresh produce tends to be located near the entrance of
the store. Milk, bread, and other essential staple items are usually
situated toward the rear of the store and in other out-of-the-way
places, purposely done to maximize the customer's time spent in the
store, strolling past other items and capitalizing on4 impulse buying.
Supermarkets, in general, tend to narrow the choices of fruits and
vegetables by stocking only varieties with long storage lives.
In the United States, major-brand supermarkets often demand
slotting fees5 from suppliers in exchange for premium shelf space
1 Прибыль, разница между покупной и продажной ценой; маржа.
2 Посетитель, разглядывающий товары, перелистывающий книги.
3 Главный продукт или один из главных продуктов, производимых в данном

районе.
4 Наживаться, наживать капитал.
5 Плата за торговое место.

‒ 145 ‒
and/or better positioning (such as at eye-level, on the checkout aisle
or at a shelf's “end cap”). This extra supplier cost (up to $30,000 per
brand for a chain for each individual SKU1) may be reflected in the
cost of the products offered. Some critics have questioned the ethical
and legal propriety of fee payments and their effect on smaller
suppliers.
In Britain supermarkets have been accused of squeezing prices to
farmers, forcing small shops out of business, and often favouring
imports over British produce.
In New Zealand, supermarkets have been accused of buying fresh
produce from growers at low prices and selling with ridiculously
high mark-ups, sometimes as high as 500%.
When you shop in a Dutch supermarket, the cashier may
routinely ask you, ‘Do you have a bonus card? Do you save air
miles, stamps? Do you participate in our saving scheme?’ Trying to
bind increasingly opportunistic and less loyal younger customers to
their brand with discounts, air miles and saving funds is a popular
ploy of supermarkets, department stores and petrol stations these
days. Other retailers have customer cards entitling the holder to
reductions and special shopping evenings.
a. List advantages and disadvantages of shopping in super-
markets.
b. Analyze marketing techniques used in shopping.
c. List the ways shops lure an ordinary browser into a helpless
purchaser.
d. Account for ethical and legal propriety of fee payments.
e. Dwell upon high margin and low margin areas in the shops.
f. Draw the parallel between the information above and the
situation in Russia.
g. Comment upon the newspaper heading “Creaming2 or
Skimming3?
h. Search the Internet for the term BTI (Best Traded Item) and
report on it.
1 Stock‐keeping unit – единица учета.
2 Добавление сливок.
3 Снятие сливок, стратегия высоких цен (установление высокой цены на
новый продукт с целью получить большую прибыль на начальном этапе,
пока конкуренция недостаточно высока, а затем постепенное снижение
цены) Syn: high‐price strategy, skim pricing, skimming pricing, price skimming.
‒ 146 ‒
3.8 CASE STUDY & ROLE-PLAY

Consumer skills
COMPARING PRICES
Situation:
Learning to make informed decisions about buying food will result
in economic skills that last a lifetime. You consider the options
available when buying food.
What you must decide:
Learn to make informed buying decisions resulting in the best deal
for you as a consumer. Single out the steps in decision-making.

Cast
Student A
Student B
Student C
Student D

Work in groups (Students A , B, C, D).

Student A
To understand how buying decisions are made you were asked at
your seminar in economics to make a shopping list of 10 basic food
items, then go to several shops and find out the range of unit cost
for each item. You consult your mother (or any other relative, or any
experienced friend, etc.). You think that to begin with you should
consider the first step “What kind?” The variety of bread available in
the super-market is confusing – French, rye, white, fancy or plain.
Brands A, B, C, X, Y, Z! The next step under discussion should be
“How much?”. After deciding what kind of bread to buy, consumers
‒ 147 ‒
generally consider the price. Point out that another consideration
figuring into what we buy is the quality of the product. Suggest that
the next step can be: “How good?”. Sometimes evaluating the quality
of a product can be difficult for the customer. For instance, most
food products list natural as well as artificial ingredients. Some
provide nutritional information.

Make use of the helpful phrases:

 You will agree that ... .
 I’d like to raise the subject of ... .
 I would find it difficult to accept it.
 At the same time ... .
 Please do consider my words very carefully.
 That’s what I wanted to talk to you about.

Student B
You help your partner make a shopping list of basic food items.
Being a wise consumer is never easy. A wide variety of prices,
brands, sizes, and advertising gimmicks influence you when you
enter a store. Consider the options available, when buying a loaf of
bread. First you have to decide what kind of bread you need. The
occasion or purpose can determine the kind of bread you will buy. If
you know that your grandmother, who loves rye bread, is coming to
visit you, you might want to get some for her. Eventually there are
many things that influence what you buy. You attract your partner’s
attention to the point that some stores indicate the unit price for the
items on the shelves. Ask your partner to take into consideration that
although quality or kind of bread contributes to the price, generally
the larger the quantity, the less per unit cost. Buying in quantity can
often help us spend less.

‒ 148 ‒
Make use of the helpful phrases:
 That’s one way of looking at it, but ….
 Not exactly what I had in mind, but ….
 Could I come in here?
 I am in favour of it.
 In all senses of the word, stay cool.
 Could I just correct one small detail?

Student C
Focus your interlocutor’s attention on a very important factor
influencing buyer’s decision – advertising. Brands A, B, C have been
around for a long time and you trust their names. Brand X, however,
has just sponsored a sport event on local television, so you may be
more aware of that product. Brand Z is a newcomer, maybe you want
to try it. Assure your partner that advertising also influences what
you think about various products. Also the consumer’s decision is a
matter of personal taste. However, you are quite sure that the higher
the quality, the higher the price. You reckon that in the end, the
decision what to buy and at what price and quality level is a personal
one.
Make use of the helpful phrases:
 I’m sorry I don’t know much about it, but ... .

 I’m inclined to think that ... .

 I’m not sure you are right about it.
 You have my full support.
 May I add something to that ?
Student D
Still you assume that you are a smart consumer and know how to use
advertising for your purposes. You keep in mind that ads are usually
‒ 149 ‒
one-sided and emphasize only the good qualities of a product.
Explain how ads try to attract consumers by appealing to their
emotions. For instance, diet bread ad shows thin people playing at
the beach. Give other examples. From what you know many factors
influence buying decisions, and choices are not simple for
consumers. It’s absolutely true that smart buyers must obtain product
information and then compare and evaluate that information.
Make use of the helpful phrases:
 My personal opinion is ... .
 I cannot approve of it.
 No, it bears no relation to ... .
 I am all for it.
 I am giving it my backing.
 May I take a point?
 Don’t let them draw the wool over your eyes1.

Making a Decision
In coming to a decision, consider the following points:
 How to make informed buying decisions.

 Different advertising gimmicks.

 Factors that influence buying decisions.

What other factors should be discussed?

Your decision:

1 Не позволяйте втирать вам очки (вводить в заблуждение).

‒ 150 ‒
3.8 GRAMMAR BACK UP
PRACTICE WITH VERBS (II)

LEAD-IN
Exercise 1
a. Familiarize yourself with the text.
b. Rephrase the word combinations in bold type, supplying them
with the appropriate determiners from the box. You may use
some of them more than once or not at all.
c. Consult the Grammar notes below.
d. Translate the text into Russian.
unfortunately already just now yet
reluctantly at last also just
recently lately always usually

AN EMERGENCY
IN THE SALES OFFICE
John Martin is due back from his trip to Abraca today and there is
a pile of work on his desk. Unfortunately, there is also an unpleasant
surprise waiting for him. His very efficient secretary, Sally Langley,
has telephoned to say that she is ill and cannot come into the office
today. Elizabeth Corby, Mr. Grant’s secretary, copes with the
emergency by going to see the Chief Clerk in the General Office and
asking him if he will lend Mr. Martin one of his shorthand-typists
while Sally is away.
The Chief Clerk, Mr. Baker, has agreed to lend Fenella, who is
inexperienced but willing. Elizabeth has told her where to find the
stationery, given her a few helpful hints and then left her to her fate.
Mr. Martin has a much bigger emergency to cope with as soon as he
arrives. Thirty desks have failed to arrive in Holland, and the agent
there, Mr. Van Eyck, rings Mr. Martin in a panic because he is
‒ 151 ‒
responsible for seeing that they are delivered by a certain date to the
Dutch customers. The firm use forwarding agents to clear the goods
through customs, transport them and deliver them. But something
has gone wrong somewhere along the line. Apart from this, and
many other jobs which need his attention. John has got to report to
Mr. Grant on his trip to Abraca. They haven’t discussed the chances
of opening up a new market there, who they will use as an agent and
how the money to pay for the goods will be transferred to Britain.
Mr. Grant is likely to decide he wants an irrevocable letter of credit.
A letter of credit is sent by a bank to an exporter informing him that
payment for goods is at the bank. When the exporter proves that the
goods have left the country (by showing a copy of a bill of lading
with the signature of the captain, or person responsible, proving that
the goods have been loaded on to the ship) the money is then paid to
the exporter. The buyer – say in Abraca – tells his own bank to send
a letter of credit to the exporter’s bank in London. It is therefore a
promise to pay as soon as the exporter has shown proof that he has
sent the goods. At the end of the day John has cleared up some of
his work, but poor Fenella is nearly at her wits’ end.

PRACTICE WITH THE PRESENT PERFECT

Look up a Grammar book and find answers to the following
questions:
1. What kind of action does the Present Perfect form denote?
The Present perfect form denotes an action completed before the
present moment and connected with it. It is formed by means of the
auxiliary verb to have in the Present tense and Participle II of the
notional verb.
I’ve already answered four telephone calls.
It’s the third time that they have raised the rent.
The production of furniture has fallen sharply this year.
(It is still this year.)
‒ 152 ‒
Exercise 1
a. Complete the sentences using the Present Perfect of the verbs
in brackets.
b. Give a short summary of what each of the speakers has said.
Supplier (S.): All right, gentlemen. Shall we start? You ... (study)
our offer, ... (have) you?
Customer (C.): Yes, we ... carefully (examine) it. In principle we ...
(find) the terms and conditions quite acceptable.
S.: Good. If you agree to our proposal it won’t take us long to
finalise the matter.
C.: We hope not, but we’d like to clarify some points. The major
point is the equipment cost. We rate your models’ quality and
reliability highly but you ... (quote) a very high price, I’m afraid.
Our firm would find it difficult to accept it.
S.: I’m not sure you are right about it. $50 per unit is quite a
reasonable price. You see, the total cost may seem a bit high, but
it is fully justified. As you know we ... (improve) the model
lately. The alterations we ... just (make) cover the resources,
power cost, the amount and the quality of the product.
C.: It sounds convincing. As I ... (hear) for a few months already the
consumer’s desire for your production tends to increase, but,
probably, this is no reason for raising the cost so much. As to our
firm, with each successive purchase the financial sacrifice
becomes greater than the satisfaction of getting your equipment.
We are inclined to bargain over prices.
S.: Yes, that is one way of looking at it, but I’d like to point out that
there is a current annual rise in world prices for this particular
type of equipment and materials. And we can hardly ignore it.
C.: Well, I think we’ll have to look into the matter again. Our
Consultant Company ... (present) to us their competitors’
materials this week. They are the latest. I hope our experts ...
already (compare) the technological characteristics.
S.: Well, I ... (think over) your reasons. My opinion is that we can
make the only concession for you, as we ... (be) good partners for
a long time. As I see it we’ll be able to give you a 2% discount
off the value of the contract.
‒ 153 ‒
C.: All right. But I think we need a couple of days to discuss what
you ... just (say) and to give our final reply.
S.: Fine. We are ready to resume the talks at your convenience.

2. Do we use any particular words to modify the Present

Perfect?
John came in with the air of someone who has just finished the task.
Mr. Worthing, I suppose, has not returned from town yet.
It’s nearly 10 o’clock. Has Andrew got the necessary data yet?
– Could you make a shopping list for me? – I have already made it.
I have written six letters this morning. (It is still this morning.)
Exercise 2
Write “R” (right) if the tense is used correctly, and “W” (wrong)
if it is not.
1. The production of chemical equipment has fallen sharply 2 years
ago. There was no demand for it.
2. We have never planned our expenditure before.
3. Tom has been hearing for three days already that the government
is inclined to control the prices for major consumer goods and
services.
4. This black evening dress was sold at $100 for a long time, but
today the sellers have changed the price.
5. The utility of meat has changed for my friend greatly, since he
made a decision to become a vegetarian.
6. Today I stopped buying tomatoes at the current price as my
financial sacrifice is greater than the satisfaction of eating them.
7. Did you ever see our assembly shop? You can see the finished
products here. Look, here is the latest model of pumps. We
modified it lately.
8. Have you seen the latest ads of diet bread yet? It’s very attractive
and emotional.
‒ 154 ‒
Exercise 3
a. Fill in the blanks. Choose from the following: for, since, yet,
ever, never.
1. The prices for goods have changed a lot … you provided us with
your quotations.
2. Mr. Cooper, I have known you now … something like four years.
3. He has been here … a long time.
4. Is the Sales Manager here? No, he hasn’t arrived … .
5. The suppliers haven’t changed their prices … May.
6. She has worked in London … six months. (= She still works
there now.)
7. What’s the best marketing strategy you have … seen?
8. He has … rated meat highly.
9. Have we … rated this firm as sound?

b. Render the following into English:

1. В этом месяце статистика показала, что потребительский
спрос на нашу продукцию имеет тенденцию к уменьшению.
Но, насколько нам известно, наши эксперты еще не изучили
это явление детально.
2. Ведущие фирмы уже прекратили производство товаров, тре-
буемых в военный период, так как их предельная полезность
в последнее время изменилась.
3. В этом году мы купили квартиру по текущей цене. Это была
финансовая жертва, но покупка была успешной. В последнее
время цены на квартиры колебались от высоких до очень вы-
соких. Они никогда не имели тенденции к понижению.

Exercise 4
a. Translate the following sentences into Russian. Comment
upon the use of the Present Perfect or the Past Simple.
1. I have lived in York for ten years.(= I still live in York now).
2. He has rated meat very highly for several years. (= He rates it
highly now.)
‒ 155 ‒
3. She has bought vegetables at the current price for a long time.
4. I paid by cash for 5 years. (= I do not pay by cash now.)
5. He rated meat very highly for several years but now
he does not eat it at all.
6. She bought vegetables at the current price but at the moment she
can’t afford it.

b. Render the following into English:

1. Вмешивалось ли когда-либо правительство в политику
рыночных цен посредством ценового контроля и карточек
для того, чтобы быть уверенным, что цены на важнейшие
потребительские товары не поднимутся слишком высоко?
2. С тех пор как этот товар стал свободно доступен, спрос на
него резко упал. Его полезность изменилась. А я никогда
прежде не задумывался, что полезность товара напрямую
связана с тем его количеством, которое имеется в наличии
для нужд потребителя.
3. – В последнее время появилось много разнообразных
косметических товаров. Ты когда-либо пыталась оценить
качество этой продукции, сравнивая цены?
– Да, конечно. Но, кроме того, я никогда не покупала товар,
не изучив информации, данной фирмой-производителем и
специалистами в этой области.
4. – Алиса, ты уже составила список основных продуктов
питания, которые нам необходимы на неделю?
– Нет еще. Я обдумываю его уже 30 минут, но еще не
приняла окончательного решения. Я только что слышала
рекламу нового сливочного масла и хочу его попробовать.
– Я никогда не верила рекламе. Но эта звучит убедительно.
Давай рискнем!
5. Ты видел чек из супермаркета? Я не вижу записи о яблоках
на сумму три доллара.
‒ 156 ‒
 PRACTICE WITH THE PRESENT PERFECT
CONTINUOUS
Look up a Grammar book and find answers to the following
questions:
1. What action does the Present Perfect Continuous denote?
What words, if any, are used to identify the Present Perfect
Continuous?
I have been working all day.
You are not well today. You look distressed. You have been weeping.
I have been buying pictures since then.
I suppose you have been telling lies again.
I have been looking out for your white dress for the last ten minutes.

Exercise 1
Choose the correct form.
1. – Can I have a look at your intake for the month? – Certainly.
You can keep it if you like. I have been reading / have read it.
2. They have been paying / have paid through a London branch
this month, but we haven’t received the payment yet.
3. I’m very sorry, but 30 desks have failed / have been failing to
arrive in Holland.
4. Eve has been saving / has saved nearly two thousand pounds so
far this year.
5. What’s the matter? Has something been going / has something
gone wrong along the line?
6. I have always been paying / have always paid by sight draft.
I’m against irrevocable letter of credit. Why do you insist on it?
7. John has been ringing / has rung you up for 2 hours. He is on
the line.
8. Something has happened / has been happening to our
forwarding agent in Rotterdam. I can’t locate him.
9. Sally Langley has telephoned / has been telephoning to say that
she is ill and cannot come to the office.
‒ 157 ‒
10. John has tried / has been trying to find the file under Bills of
Lading concerning consigned motor vessel “Kelpie”, date of
clearance London Docks, 12th September for 2 hours.
2. Is it possible to use the Present Perfect Continuous with the
verbs not admitting of the continuous form?
With the verbs not admitting of the continuous form the Present
Perfect is the only tense possible.
“She’s dead – has been dead for hours”, said the doctor.
I’ve heard for a long time already that there is an excess of bicycles
on the home market but our experts keep silence.
3. Which tense is used with non-terminative verbs?
With certain non-terminative verbs, such as to live, to work, to
study, to teach, to travel, etc., both the Present Perfect and the
Present Perfect Continuous are used.
We have worked at the problem for several months.
(The fact is emphasized).
We have been working and working at the problem for months
and I don’t think we are likely to solve it.
(The process is emphasized).

4. Should the Present Perfect or the Present Perfect Continuous

be used?
a. The Present Perfect denotes a completed action while with the
Present Perfect Continuous there is an implication of
incompleteness.
He has made some payments. Now he has to save.
John is out of money. He has been making some payments.
b. We use the Present Perfect Continuous to talk about how long
something has been in progress.
We have been planning our expenditure since 12 o’clock.
How long have you been typing letters?
‒ 158 ‒
 We use the Present Perfect to talk about what has been achieved
in a period of time.
I’ve typed four letters so far this morning.
We have planned the greater part of our expenditure since 12
o’clock.
c. We use the Present Perfect Continuous for situations which are
more temporary (continuing for a short period).
He has been living there for just a few weeks.
We have been buying milk at the current price for just two days.
We use the Present Perfect for situations which are more
permanent (continuing for a longer time).
You have worked hard all your life.
Exercise 2
Complete the sentences using the appropriate tense of the verbs
in brackets.
1. I’m sorry, I’m late. ... (you / wait) long?
2. We ... (plan) our expenditures since early morning but we are
still in the process.
3. Our specialists ... (study) the relative demand for office furniture
for 3 months and now they can demonstrate the results of their
survey.
4. They ... (advertize) the new type of shampoo everywhere for a
month.
5. – How long ... you (look for) the shipping documents for the
thirty M-type desks? – I ... (try) to find them since morning, but I
think it’ll take me the whole day.
6. ... (clear up) some of Sally’s work ? It has been a hectic day.
7. Mr. Best, the Sales Clerk, ... (record) the invoiced sales and order
intake for the month since January 3.
8. I ... (dial the number direct) for half an hour, but in vain. Let’s do
it through the operator.
9. The National Bank ... (rate) this agent as sound since they got a
more detailed report on his performance.
10. These agents ... (make) the long – term assessment for a week.
Do you think we should hire some more specialists?
‒ 159 ‒
 PRACTICE WITH THE PAST PERFECT
Ask yourself these questions when checking the Past Perfect Tense.
1. What kind of action does the Past Perfect denote?
After she had cried out, she felt easier.
Fortunately, the hold-up had been investigated before we started.
By that time he had given the exact date of clearance.
2. Are any words used to underline the meaning of the Past
Perfect?
They had no sooner sent a letter of credit to an exporter than
the goods were loaded on to the ship.
Nell had scarcely set a note with the memo when the manager
asked her to bring it.
For the sake of emphasis the word order may be inverted.
No sooner had she set a note with the letter than she heard
the trill of the bell.
Hardly had I touched the pillow when I fell asleep.

Exercise 1
a. Complete the sentences using the past perfect of the verbs in
brackets.
1. – Why were you so angry when I saw you yesterday? – Oh, I ____
(just / have) a big argument with my parents.
2. I tried contacting my pen pal when I was in the US, but she ____
(change) her address and no one knew where she _____ (move) to.
3. He was very nervous when he first drove in Britain because he
_____ (not / drive) on the left before.
4. When I heard his voice on the phone, I knew I _____ (speak) to
him before. Then I remembered I _____ (already / meet) him. I
also remembered that I _____ (not like) him very much.
b. Put one verb in each sentence into the past perfect and the
other into the past simple.
1. I _____ (not / laugh) at the joke because I _____ (hear) it before.
2. Andy _____ (do) the test before, so he _____ (find) it very easy.
‒ 160 ‒
3. – Did you catch the train yesterday? – No, it _____ (already /
leave) when we _____ (get) to the station.
4. We _____ (leave) the restaurant when we _____ (have) dinner.
5. When I found my wallet I _____ (discover) that somebody _____
(take) the credit cards out of it.
Exercise 2
Choose the correct tense.
1. Suddenly I realized that the financial sacrifice ... greater than my
satisfaction of buying video films at the current price.
(A) became
(B) had became
(C) has become
(D) had become
2. This year Bob Hardiman ... yet the time to be qualified for the
full pension.
(A) has not completed
(B) does not completed
(C) has completed
(D) had not completed
3. No sooner ... Peter and Yan the case to H.G. than Mr. Grant
understood that he had to change his decision.
(A) explained
(B) had explained
(C) has explained
(D) have explained
4. Everybody noticed how upset she was. She ... ration stamps for
meat, butter and sugar.
(A) looses
(B) has lost
(C) lost
(D) had lost
5. A consumer, who ... already enough items of a commodity, was
not interested in getting more of it.
(A) bought
(B) has bought
(C) have bought
(D) had bought
‒ 161 ‒
 6. They ... the prices in advance that’s why when planning our
expenditure we must accept these fixed prices.
(A) fixed
(B) have fixed
(C) ‘d fix
(D) had fixed
7. Hardly Elizabeth ... with the emergency, when she saw a pile of
work on Mr. Bell’s desk.
(A) coped
(B) has coped
(C) had cope
(D) had coped
8. The clerks ... the envelopes with all order acknowledgements and
delivery notes but the monthly statements of accounts were still
untouched.
(A) already had franked
(B) had already franked
(C) franked already
(D) already franked
9. When the exporter ... that the goods … the country the money is
then paid to the exporter.
(A) proved … had already left
(B) had prove … had already leaved
(C) had proved … already left
(D) had to prove … have already leaved
10. A letter of credit is a promise to pay as soon as the exporter …
proof that he ... the goods.
(A) has shown … had sent
(B) has shown … sent
(C) shown … has send
(D) has showed … has sent already
11. Simon wasn’t at home when I phoned. He ... out .
(A) had went
(B) had gone
(C) has gone
(D) gone
‒ 162 ‒
12. Sally was at the General Office when we arrived, but she ... out
soon afterwards to cope with the emergency in the Sales Office.
(A) had gone
(B) went
(C) has gone
(D) had go
13. When John Martin cleared some of his work, Fenella ... the
copies of the shipping documents for the thirty M-type desks
sent to the Netherlands.
(A) brought
(B) had brought
(C) have to bring
(D) has brought
14. A letter was sent by the bank to the exporter informing him that
payment for goods ... .
(A) made
(B) was made
(C) had been made
(D) has been made

Exercise 3
Translate into English.
1. Когда я обнаружил, что цены не были установлены заранее, я
стал торговаться.
2. К определенному моменту предельная полезность этих
товаров изменилась, и потребители прекратили покупать их
по текущей цене.
3. После того, как мы спланировали расходы, мы решили не
выбрасывать деньги на ветер. Мы купили дачу, но были
вынуждены принять цену продавца, так как она была
назначена заранее.
4. Едва потребители получили компьютеры в избытке, как
спрос на них упал.
5. После того как запас товара увеличился, полезность этого
товара снизилась.
‒ 163 ‒
 PRACTICE WITH THE PAST PERFECT
CONTINUOUS
Ask yourself these questions when checking the Past Perfect
Continuous.
1. What kind of action does the Past Perfect Continuous denote?
We couldn’t go out because it had been raining since early
morning.
We couldn’t find this letter in the “in” tray because Sally
had not been sorting the letters for four days and
it was due to come the day before yesterday.
___ earlier past ____
George Duncan had been waiting for an hour, when Mr. Grant
__ past__
agreed to see him.
The consumers had been bargaining over prices for a long
time when the seller made a discount at last.
Bob Hardiman had been working for “Harper & Grant Ltd.”
for 30 years when he had to leave the company.
2. Which tense is usually used with the verbs not admitting of
the continuous form?
With the verbs not admitting of the Continuous the Past Perfect is
the only tense possible.
The reception girl had seen the stranger for five minutes
already before that man noticed her.
3. Which tense do we usually use with non-terminative verbs?
With certain non-terminative verbs, such as to live, to work, etc.
both the Past Perfect and the Past Continuous are used.
He said he had worked for twenty
years. (The fact is emphasized).
He said he had been working for a long time without
achieving final results. (The process is emphasized).
‒ 164 ‒
Exercise 1
Complete the sentences using the correct tense.
1. Our company _____ (produce) office equipment for nearly 2
years when we _____ (realize) that the consumers demand for it
_____ (go) down.
2. Before John Martin _____ (go) to Abraca, he _____ (disccuss)
his preliminary desk research with H. Grant and finally he _____
(get) a reservation for a first-class return flight to Abraca.
3. The managing director _____ (examine) the data provided by the
Consultant company since he arrived. And now he _____ (be
busy) with them as well, he is going to discuss the results with the
specialists.
4. John Martin _____ (argue) with H.G. for an hour, when he _____
(decide) to leave the firm.
5. I _____ (know) about a first-class reputation of the manufacturing
plant for several years before I _____ (make) a decision to place
an order with it.
Exercise 2
Translate into English.
1. Долгое время я ценил мясо очень высоко, до того как я стал
вегетарианцем и предпочел овощи и фрукты мясу.
2. Мы выпускали новую модель подводной лодки в течение
двух лет, когда спрос на нее неожиданно упал.
3. Агенты не могли поднять цену на квартиру, потому что цена
на аренду жилья в некоторых городах Америки находилась
под контролем законодательства со времен нехватки жилья.
4. Потребитель покупал товар по текущей цене в течение не-
скольких недель, когда, наконец, он понял, что его финан-
совая жертва была больше, чем его удовлетворение от
покупки данного товара.
5. Участники встречи обсуждали проблему контроля цен и
введения карточек в течение двух часов, прежде чем они
пришли к выводу, что это единственный путь борьбы с
временными нехватками продуктов.
‒ 165 ‒
 PRACTICE WITH ADJECTIVES

Ask yourself these questions when checking adjectives.

1. What is the place of an adjective in English?
a. An adjective can come in two places in a sentence:
– before a noun.
According to our basic needs and additional individual wants
we require different kinds of commodities.
– after the verbs be, become, look, appear, seem, feel, taste, smell,
sound, ... etc. when we describe the subject of a sentence.
Our wants are very complex.
The price seems high.
The soup smells good, but tastes awful.
b. A few adjectives can come after a verb, but not before a noun:
asleep, alone, alive, awake, afraid, ill, well.
He is asleep. (not: an asleep man)
Before nouns we use:
sleeping instead of asleep (a sleeping man)
living instead of alive (a living habit)
frightened instead of afraid (a frightened animal)
sick instead of ill (a sick child)
healthy instead of well (healthy people)
c. In expressions of measurement, the adjective normally comes
after the measurement noun.
He’s eighteen years old.
I’m 1.80 metres tall.
Exercise 1
Open the brackets and complete each sentence using the most
suitable adjectives.
1. Peter Wiles was worrying about the future of the company
because old Ambrose Harper was seriously ____. He was a very
_____ person. (sick / ill).
‒ 166 ‒
2. The deep and ______ influence which he exerted upon society is
highly appreciated. (healthy / well).
3. You look ______ .You are so pale and tired. (sick / ill).
4. He was ______ (afraid / frightened). Suddenly he saw ______ (a
sleeping / an asleep) man in the dark room.
5. The little boy was ______ (alone / a lonely) in the whole world.
He resembled ______ (a frightened / an afraid) bird.
6. In some of Canadian provinces it is ______ (a living / alive)
tradition to give Christmas “boxes” of gifts on December 26th to
those, who have served the family throughout the year and also
among the family and children.
7. Nurses look after ______ (sick / ill) people.
8. I am (afraid / frightened) that if there is an excess of consumer
goods, the relative demand for them will go down.

2. What is the order of adjectives when we use two or more

adjectives together?

a. When we use two or more adjectives together, “opinion”

adjectives (nice, beautiful) normally go before “fact” adjectives
(sunny, blue).
a nice sunny day a beautiful blue dress
b. When two or more fact adjectives come before a noun, they
normally go in the following order:
size + age + shape + colour + origin + material + purpose +
NOUN
a large plastic box (size + material)
a young Russian girl (age + origin)
a tall thin man (size + shape)
a black plastic shopping
bag (colour + material + purpose)
‒ 167 ‒
Exercise 2
Put the words in the right order:
e.g. is / a / generous / Kate / woman / very. – Kate is a very generous
woman.
1. There was an excess of (spiral / thin / writing / imported) blocks,
but we needed the thick ones.
2. We tried to bargain over two (round / expensive / wooden / large)
tables.
3. For him the purchase of a pair of (leather / costly / black) shoes is
a financial sacrifice.
4. blue / seen / have / my / you / T-shirt ?
5. I’m afraid customers will soon stop buying (red / those / plastic /
cheap) raincoats.
6. People with lower incomes rate the utility of (Japanese / tiny) TV
sets very highly.
7. I cannot approve of buying too much (French / fancy / white)
rolls.
8. My son is inclined to think that (black / high / English / leather /
new) boots are a must for a teenage boy.

Exercise 3
Look at the underlined parts in each sentence. Choose the one
that is incorrect.
1. I’m afraid we should have a two-weeks field survey to find out
A B
the relative demand for these nine-pound T-shirts outside the UK.
C D
2. If a period of employment is interrupted for more than six
A
months, the employee has to work a further period to be
B C
entitled to a full pension. The period is five year long.
D
‒ 168 ‒
3. Price controls and ration stamps have been also discussed during
A
a two-day summit as a well-known way of dealing with
B C
temporary shortages of gasoline and heating oil.
D
4. It’ll be half an hour walk. The distance is only a two miles long.
A B C D
5. Our customers are usually offered a ten pages catalogue
A B
containing information about our firm’s products.
C D
6. Peter Wiles, Production Manager, and John Martin, Sales

Manager, are young and very adventurous. H. Grant is only

A
ten year older, but he is inclined to be cautious and firmly
B C
believes that he knows the best way to run a business.
D
7. When Henryk was fourteen years old he was interesting in the
A B
control of the underground school market.
C D
8. At last Tom saw the new coloured book he was looking for, the
A B
price was $15. And he had only five-dollar note for his needs.
C D

‒ 169 ‒
 PRACTICE WITH COMPARATIVES AND
SUPERLATIVES
Ask yourself these questions about comparatives and superlatives.
1. Is the comparative or superlative form correct?
Irregular comparatives and superlatives are as follows:
good adj better best
well adv better best
bad adj worse worst
badly adv worse worst
little adj/adv less least
many adj more most
much adj/adv more most
far adj/adv farther, further farthest, furthest1
late adj/adv later last (final)
latest (most recent)
old adj older, elder oldest, eldest2

2. Is the comparative or superlative used correctly?

a. Comparatives and superlatives are used to modify a noun or after
a verb.
The higher price would discourage the customers.
The lowest price I can afford is $47 per unit.
A point in time comes when the financial sacrifice
is greater than the satisfaction of eating bananas.
b. Before a comparative we can use (very)much, a lot, a little, a bit,
rather or far: very much taller, a lot more important, a little
cheaper, a bit more expensive, rather colder, far more
interesting.
1 Note that further (but not farther) can mean “more” or “in addition”. [e.g. Stop

doing it if you have any further complaints. (=any more complaints)].

2 We use older/oldest but not elder/eldest in comparisons. [e.g. My sister is
older than me. (not elder than me)]. We use elder/eldest mostly to talk about
members of a family. (my elder sister).
‒ 170 ‒
 Before a superlative we often use by far or easily: by far the
cheapest, easily the most attractive.

c. The superlative is used in the following structures:

After superlatives we use in to show what place we are talking
about. Of is not normally used, but it is possible in expressions
the happiest day of my life, the hottest day of the year and after a
superlative without a noun:
This is the least expensive of the butcher’s products.
3. Is the parallel comparison used correctly?
When a two-clause sentence begins with a comparative, the
second clause also begins with a comparative.
The higher the price is, the fewer bananas we’ll buy.

Exercise 1
Maria is slightly fat. She is speaking about the problems of losing
weight. Complete what Maria says using comparatives of the
adjectives in brackets; add than where necessary.
“Oh, why is bread such a tasty thing! I think it’s much more difficult
(much / difficult) to do without bread than any other food.
Sometimes I feel that my waist is getting ___1___ (fat), not ___2___
(thin)!
When you first start dieting, it seems ___3___ (a lot easy) doing
exercises and cutting down on bread looks ___4___ (much /
simple).
However, when you become ___5____ (a little / advanced), it gets
___6__ (a lot / complicated).
There are also so many brands at the baker’s!
My will appears to be _7_ (far/ too/ weak)!
I’m already looking for something __8__ (rather / efficient) cutting
down bread.”
‒ 171 ‒
Exercise 2
Underline any comparative that is used incorrectly.
e.g. Northern Mexico generally receives less rain than does Central
Mexico.
1. Fancy bread is the more tasty and popular of all kinds of bread in
the shop.
2. Iowa produces the more feed corn than any other state.
3. The cheaper of the two suitcases was more suitable for short trips.
4. The other side of the settlement has a better supply of foodstuffs.
5. Waiting to be reduced is highest of the two prices.
6. Evaluating the quality of a product can be difficult for a customer.
The higher the quality, the higher the price.
7. Choices are not simpler for consumers because many factors
influence buying decisions.
8. More often than not a smart buyer makes best buying decisions
than an inexperienced one.
Exercise 3
Make sentences using the structure:

the + comparative clause , the + comparative clause

e.g. (small) a purchase is / (easy) it is to adjust the budget.
The smaller a purchase is, the easier it is to adjust the budget.
1. (complicated) the problem / (hard) it is to find a solution.
2. (wise) the choice is / (good) the quality of a product is.
3. (big) a car is / (expensive) it is to run.
4. (bad) the weather / (dangerous) it is to drive on the roads.
5. (old) he gets / (thoughtful) he becomes.
6. (fast) he tried to work / (little) he was able to accomplish.
7. (many) advances and improvements are made in technology,
(convenient) the banking transactions become.
8. (much) populated the area becomes, (much) noise one has to
contend with.
‒ 172 ‒
Exercise 4
Put  for correct sentences; rewrite the incorrect ones.
1. This is one of most expensive restaurants in Milton.
2. Let your child choose the most and the least expensive ways to
purchase goods.
3. Only a smartest consumer knows how to use advertising for his
purposes.
4. The better educated one is, the less likely is one to be
unemployed.
5. I think that was one of the worse days of my life.
6. Today there are less and less jobs which require unskilled labour.
7. My neighbour is one of the boringest people I know.
8. What is the most popular brand of beer in your pub?
9. Tell me if you have any farther problems. (= any more problems)
10. The eldest customer was given a free basket of food.

Exercise 5
Fill in the blanks with a or the whenever necessary.
1. Don’t you know that in … most of London buses fares depend
on the distance travelled.
2. When offering a new job, … most firms select from the total
number of applicants a small number who they think have …
best qualifications on paper.
3. This is … most efficient way of improving the sales.
4. This is not surprising that … most of … English regard
themselves as sportsmen.
5. When he was in prison they fed him on thin soup and dry bread
… most of which was mouldy.
6. … Most of all, yuppies are Professional: they can be seen setting
off to work every day in … most elegant business suits and
pretentious dresses.
7. This has been the best year in the company's history, … most
productive in output and certainly less hard than the previous
one.
‒ 173 ‒
 8. Who were you given this information by? It sounds … most
interesting and convincing.
9. The experts gave us … most (чрезвычайно) important advice.
Very vital indeed!
10. We already know that … most foodstuffs are in the perishable
category.
11. You see, … most important thing when interviewing a candidate
is his character, his ability to react, his intelligence and his
suitability for the position.
12. Find out the way to use money … most effectively.
13. Thank you for … most impressive preliminary report.

Exercise 6
Render the following into English:
1. – Посмотри! Это новый сорт хлеба, его рекламируют по ТВ
каждый день. Эта цена мне кажется высокой... .
– Да, совершенно верно, но этот хлеб пахнет и вправду
хорошо и выглядит восхитительно! Я за то, чтобы его
купить.
2. Пожалуйста, прислушайся к моим словам внимательно: вот
эта большая черная кожаная сумка чуть-чуть дороже, но я
думаю, что ее качество гораздо лучше, чем у той сумки из
искусственной кожи. Общеизвестно, что чем выше качество,
тем более высокую цену вы должны заплатить за товар.
3. Во времена дефицита контроль над ценами так же важен, как
и введение карточек на продукты питания и потребительские
товары.
4. Научные исследования подтверждают тот факт, что чем
больше единиц товара покупает потребитель, тем меньше
становится его желание иметь этот товар. Экономисты
называют эту тенденцию “Закон об убывающей предельной
полезности”.
5. – По-моему, разнообразие потребительских товаров на рынке
делает проблему выбора нужного вам товара более сложной.
– Я полностью согласен с тобой, но думаю, что выбрать
товар не так сложно, как оценить качество продукта.
‒ 174 ‒
 Glossary 
accept v 1. to take or receive (something offered or
given), esp. willingly
2. to take or receive as satisfactory or reasonable,
often unwillingly
3. to recognize as being true or right
advance n 1. forward movement
2. money provided before the proper time
3. loan
in advance ahead in time; beforehand
advertise v (for) to make (something for sale, services offered, a
room to rent, etc) known to the public, e.g. in a
newspaper or on TV
advertisement n something used for advertising things, such as a
notice on a wall or in a newspaper, or a short film
shown on TV
appropriate adj correct or suitable for a particular situation or
occasion
bargain n 1. an agreement, made between two people or
groups, to do something in return for
something else
2. something for sale or bought for less than its
real value
pl(bargains) transactions carried out on a stock exchange
bargain v to talk about the conditions of a sale, agreement,
or contract; negotiate
commodity n an article of trade or commerce, esp. a mineral or
farm product
concern v to be about
confuse v 1. to cause to be mixed up in one’s mind;
bewilder
2. to mix up in one’s mind
consider v 1. to think about, esp. in order to make a decision;
examine
2. to take into account
3. to regard as
‒ 175 ‒
diminish v to (cause to) become or seem smaller
emphasize v to place emphasis on
emphasis n special force or attention given to something to
show that it is particularly important
price emphasis a policy that gives attention to prices on order to
promote sales
de-emphasis a pricing policy on the basis of the perceived
value of a commodity
evaluate v to calculate or judge the value or degree of
excess n 1. something more than is reasonable; more than
a reasonable degree or amount
2. an amount by which something is greater than
something else
expenditure n spending or using up
interfere v (in) to enter into or take part in a matter which does
not concern one, and in which one is not wanted
margin n 1. an amount by which one thing is greater than
another
2. part of the total cost of a product or service that
represents the producer’s profit, usually
expressed as a percentage of revenue
marginal adj in economics, means resulting from the addition
of one more unit
obtain v to become the owner of , esp. by means of effort
or planning
option n 1. the freedom to choose
2. one of a number of courses of action that are
possible and may be chosen
pricing method used to set a price, specifically by
equating supply with demand

loss-leader pricing selling a popular product at a loss, hoping to attract

customers who will also buy other products
‒ 176 ‒
off-even pricing selling items for 99.99 dollars, for example,
instead of100 dollars
purchase n an act of buying
purchase v to buy
quality n the degree to which something is excellent;
standard of goodness
quantity n the fact of being measurable; amount
quote v to state a price, e.g. for services offered
rate n 1. a quantity such as value, cost, or speed,
measured by its relation to some other amount
2. a charge or payment fixed according to a
standard scale
rate v to have the stated opinion about; value
relate v 1. to concern; be about or be directed towards
2. to have a connection with
relation n relationship
sacrifice v to lose or give up, esp. for a good purpose or to
gain a desirable effect
sacrifice n loss or giving up of something of value, esp. for
what is believed to be a good purpose

shortage n a condition of having less than is needed; an

amount lacking
stock n 1. a supply of something for use
2. money lent to a government or company, on
which interest is paid
surplus n (an amount) additional to what is needed or used
tend v to have a tendency; be likely (to do or be)
something; do or be often or usually
unit n a single complete thing
per unit cost an amount of money spent to produce one item
usefulness n effectiveness in use
utility n characteristic of a commodity to satisfy a want
‒ 177 ‒
 Topics for the Power Point presentations
1. Utility & Usefulness.
2. The Law of Diminishing Marginal Utility.
3. The Basics of the Pricing Policy.
4. “Loss-leader” pricing.
5. “Off-even” pricing.
6. Price emphasis.
7. Price de-emphasis.
8. How to make informed buying decisions resulting in the best deal
for a consumer (Role-play).
9. How to lure an ordinary browser into a helpless purchaser.
10. Marketing strategies.
11. Rules of letter-writing.

‒ 178 ‒
 LABOUR MARKETS,
4 EMPLOYMENT & SOURCES
OF INCOME

Contents 

4.1 Lead-in Section overview

4.2 Language Input Developing vocabulary
4.3 Background Information Income and Employment
4.4 Comprehension Understanding the reading
Reviewing the concept
4.5 Speaking & Writing
Language focus Saying numbers
Presenting Summarising Talks
Information
Communication skills Letter of Application
4.6 Dialogue Recruitment
4.7 Reading for Cross-cultural Labour problems in Russia and
Associations the UK
4.8 Role-play Consumer skills:
Finding a Job
4.9 Grammar Back Up Practice with verbs: Future (III)
Practice with Adverbs
‒ 179 ‒
SECTION OVERVIEW
You will earn money in several ways throughout your life. Part-time
jobs are a major source of income for many high school students. In
addition, young people often receive income from their parents or
interest on a savings account. Understanding how people earn money
will help you consider ways to increase your own income. In this
section you will learn about different ways to analyze the various
sources of income and how income and wealth are distributed in the
market.

4.1 LEAD-IN
Discuss the following questions, make use of the hints in brackets:
1. In what way does your family allocate its income?
(optional expenses, to reduce, to develop a useful budget, to
figure out expenses)
2. Do the income and spending of the family resemble those of the
nation?
(to keep record, to meet needs, to adjust the budget, to evaluate
tradeoffs)

4.2 LANGUAGE INPUT

account n
Savings accounts and
corporation stocks are types of
wealth that usually produce
income.
account v
The salaries Marc and Claire
earn account for most of their
income each year.
‒ 180 ‒
счет, отчет, расчет по сделке
Сберегательные счета и акции
предприятий – это виды
активов, которые обычно
приносят доход.
объяснять, считать;
отчитываться; приводить
к чему-либо
Зарплата Марка и Клер
составляет бо́льшую часть
их ежегодного дохода.
accountant n
syn book-keeper
Mary Farrar took a job as a
book-keeper for a firm that
constructed steel-frame
buildings.
amoun n
amount v
The expenses increased by 2%
and amounted to 10% of total
expenditures.
apply v
People can apply for the job by
sending in a letter of
application and curriculum
vitae containing details of their
education and experience.
бухгалтерский работник
син. счетовод, бухгалтер
Мэри Фаррар стала работать
бухгалтером на фирме,
строившей железобетонные
здания.
количество, сумма, итог, объем
составлять сумму, достигать,
равняться, быть равным
Издержки возросли на 2%
и составили сумму около 10%
всех расходов.
подавать заявление; применять
Просить о приеме на работу
можно, послав заявление и
автобиографию с данными об
образовании и опыте работы.

application n заявка, заявление, применение

applicant n заявитель, кандидат,
претендент, соискатель
compensation n возмещение, компенсация,
платеж, пособие;
амер. жалованье, доход

Employee compensation is the Жалованье наемных

income earned by working for работников – это доход от
others. работы на других лиц.
debt n долг, задолженность,
обязательство
An individual’s debts are Из личного капитала
subtracted from personal физического лица вычитаются
wealth. долги.
determine v определять, устанавливать
Clarify the way you determine Поясните, каким образом вы
goods as satisfactory. определяете, что товары вас
удовлетворяют.
‒ 181 ‒
employ v нанимать на работу,
задействовать
employer n работодатель, наниматель
Usually the employer asks you Обычно наниматель просит вас
to fill out an application. заполнить заявление о приеме.
employee n лицо наемного труда, служащий
unemployment n безработица
estimate v оценивать, предварительно
подсчитывать, составлять смету
estimate n оценка, подсчет, смета
Government economists must Экономисты в правительстве
estimate some information. должны дать оценку кое-какой
информации.
fringe n дополнение, придаток
Employee compensation Платежи служащим включают
includes wages and fringe в себя зарплату и дополнитель-
benefits such as health and ные выплаты, например,
accident insurance. страхование от болезней и
несчастных случаев.
Pl fringes дополнительные льготы
interest n процент; проценты, процентный
доход; доля, участие
Interest is the money received Проценты – это доход,
by people and corporations for полученный частными лицами
depositing their money in или организациями за
savings accounts or lending it размещение их денег на
to others. сберегательных счетах или за
дачу их в долг другим лицам.
interview v проводить собеседование, опрос
interviewer n интервьюер
interviewee n интервьюируемый
It is important to create the Важно создать правильные,
right kind of relationship, an взрослые взаимоотношения
adult-to-adult relationship with между интервьюируемым
the interviewee or the и тем, кто проводит
interviewer. собеседование.
‒ 182 ‒
own v
owner n
ownership n
Rental income is connected
with ownership of a property.
payment n
In economic theory, “labour”
is any work undertaken in
return for payments of fixed
or regular nature.
payroll n
She soon progressed from
keeping payroll and other
accounts to proof-reading
architects plans for a building.
possess v
possessions n (pl)
A person with many valuable
possessions but many debts
may have no more wealth than
a person with a few
possessions but no debts.
property n
Rent is income from allowing
others to use one’s property
temporarily.
‒ 183 ‒
иметь в собственности, владеть
собственник, владелец
собственность; владение;
имущество; право
собственности
Доход от аренды связан с
правом собственности на это
имущество.
платеж, оплата, погашение
Согласно экономической
теории “труд” – это любая
работа, выполненная в обмен
на фиксированную или
регулярную оплату.
общая сумма заработной платы;
платежная ведомость;
списочный состав
Вскоре она стала заниматься
не только платежными
ведомостями и другими
счетами, но и составлением
сметы архитектурных проектов
зданий.
обладать, владеть (имуществом)
имущество, собственность
Человек, у которого много
ценного имущества, но и
много долгов, может иметь не
больший капитал, чем человек,
у которого собственность
невелика, но и долгов нет.
имущество, собственность
(в том числе земельная); право
собственности; свойство
Арендная плата (рента) – это
доход от предоставления
другим лицам права временно
использовать чью-либо
собственность.
proprietor n
During economic crisis even
proprietors learn to turn out
lights, when they are not in
use, to cut business costs.
recruit v
When a company needs to
recruit or employ new people,
it may advertise the job or
position in the appointing page
of a newspaper.
recruitment n
reward n
The surplus received from
business is the reward of
private enterprise known as
“profit”.
repay v
Much of the income of the
Lorraines is used to repay the
loan on their house.
source n
Children got a task to define
the sources of income in the
family and to estimate what
percentage of the income
comes from each source.
wealth n
собственник, владелец
Во время экономического
кризиса даже собственники
учатся выключать горящий
без надобности свет, чтобы
уменьшить деловые
издержки.
принимать на работу
Когда компании нужно нанять
новых людей, она может
рекламировать работу или
должность в газете в разделе
рекламы рабочих мест.
наем на работу,
комплектование
поощрение, вознаграждение
Излишек, полученный от
бизнеса, – это вознаграждение
за частное
предпринимательство,
известное как прибыль.
возвращать деньги, отдавать
долг, погашать, возмещать
Бо́льшая часть дохода семьи
Лоррейн уходит на погашение
кредита на дом.
источник
Дети получили задание
определить источники дохода
в семье и оценить, какой
процент дохода исходит из
каждого источника.
материальные блага,
богатство
‒ 184 ‒
 DEVELOPING VOCABULARY

4.2.1 Consult a dictionary, write out the transcription and practise

the pronunciation of the following words:
a resume
a transfer payment
adult-to-adult relationship
allowance
blue-collar workers
changes throughout the economy
colour
curriculum vitae
debt
determine
employee
inheritance
interviewee
interviewer
janitors
jewelry
major source
measure
medical practitioners
paycheque
personnel manager
plumber
possession
proprietor compensation
proprietorship
purchase
receipt
recruitment
refuse of daily existence
reward
solicitor
to recruit
to transfer
utilise
wealth
‒ 185 ‒
4.2.2 Match the English word combinations in the left-hand
column with the Russian equivalents
1. transfer payments
2. to be self-employed
3. to buy into the firm
4. fringe benefits
5. to pay a fixed wage
6. interest on savings
7. the month’s rent and
utilities
8. to cut down on something
(heat waste)
9. to subtract debts from
personal wealth
10. expenses of a business
11. health and accident
insurance
12. to utilise the refuse of daily
existence
13. to provide something for a
reward
14. corporation stock
15. employee and proprietor
compensation
16. to earn something as a
return on something
17. to own the property
18. to possess the assets
19. to send a letter of applica- s. подать заявление о приеме на
tion and curriculum vitae
20. to interview junior
members of the staff
a. снизить расходы на что-либо
(обогрев)
b. утилизировать ежедневные
отходы
c. проценты по сбережениям
d. предоставить что-либо за
вознаграждение
e. заработать что-либо в качестве
прибыли
f. деловые издержки
g. купить часть фирмы
h. владеть средствами, фондами,
активами
i. послать заявление о приеме на
работу и автобиографию
j. владеть собственностью
k. дополнительные выплаты,
льготы
l. платить фиксированную
заработную плату
m. страхование от болезней и
несчастного случая
n. работать на себя, не по найму
o. квартплата и коммунальные
платежи за месяц
p. акционерный капитал корпора-
ции/ корпоративная акция
q. вычесть долги из личного
капитала
r. доход служащих и
предпринимателей
должность
t. работать в “подсобке” (оформ-
лять операции, вести счета и пр.)
‒ 186 ‒
21. to be a back-room
employee
22. to apply for the position
23. to recruit personnel
u. набирать штат
v. проводить собеседование с
нижестоящими сотрудниками
w. передаточные/трансфертные
платежи

BACKGROUND INFORMATION
INCOME AND EMPLOYMENT
People’s incomes determine how many of the economy’s goods
and services they can purchase. Income is the money a person
receives in exchange for work or property. There are five basic types
of income:
Employee compensation is the income earned by working for
others. It includes wages and fringe benefits such as health and
accident insurance.
Proprietor compensation is the income that self-employed
people earn.
Corporation profit is the income corporations have left after
paying all the expenses.
Interest is the money received by people and corporations for
depositing their money in savings account or lending it to others.
Rent is the income from allowing others to use one’s property
temporarily.
The total income is the sum of employee and proprietor
compensation, corporation profit, interest and rent. In each category,
people receive this income in return for providing goods or services.
One other type of income is a transfer payment – money one
person or group gives to another, though the receiver has not
provided a specific good or service. Gifts, inheritances, and aid to the
poor are three examples of transfer payments.
During the past century, the percentage of people who work for
themselves has generally declined. Increasingly, people are
employees and not self-employed.
By the type of work people do workers fall into one of four broad
categories:
‒ 187 ‒
1. White-collar workers are people who do jobs in offices, such as
secretaries, teachers, and insurance agents.
2. Blue-collar workers are people who do jobs in factories or
outdoors. Artisans, such as carpenters and plumbers, are blue-
collar workers.
3. Service workers provide services to other individuals or
businesses. Janitors, barbers, and police are service workers.
4. Farm workers are people who work on their own farms or those
of others.
In the market system a person’s income is determined by how the
market values that person’s resources and skills. Individuals, such as
doctors, whose skills society values, receive high incomes. People
who own valuable resources, such as capital to invest or land to
develop, also receive high incomes.
Income is not the same as wealth. Wealth is any resource that can
be used to produce income. An individual’s possessions, such as a
house, a car, or jewellery, are part of that person’s wealth. Each of
these could be sold to produce income. Savings accounts and
corporation stocks are types of wealth that usually produce income.
Labour skills are not counted because they are difficult to measure.
In addition, an individual’s debts are subtracted from personal
wealth. A person with many valuable possessions but many debts
may have no more wealth than a person with a few possessions but
no debts.
People with similar incomes may have very different amounts of
wealth. Consider two women who receive an income of $25,000 a
year. One earns all of her income working at a bank. The other
receives her $25,000 income from dividends on stock worth
$250,000. Aside from the stock the second woman owns, the
possessions and debts of the two are similar. The difference in stock
ownership, though, is large. The second woman is much wealthier
than the first woman.
When individuals receive any income, whether as allowance,
paycheque, or gift, most of that income is spent. Spending becomes
‒ 188 ‒
income for someone else. The money each individual spends
multiplies throughout the economy as others receive and spend parts
of it. In addition, the choice you and others make can lead to
investment spending. More things are made and more places are
built. Thus spending results in changes throughout the economy.

4.4 COMPREHENSION
UNDERSTANDING THE READING
4.4.1 Give extensive answers to the questions. Use the following
expressions to start your answers:
I have no doubts that …; It’s absolutely necessary to mention that …;
I dare say …; Frankly speaking I have no idea …;
As a matter of fact … ; I think the main reason for that is …;
No doubt …; To make a long story short …;
1. What is the difference between employee and proprietor
compensation?
2. How does a corporation determine the amount of its profit?
3. What is understood by interest income?
4. Why is rental income connected with ownership of a property?
5. How does a transfer payment differ from all other sources of
income?
6. What are the four types of work people do?
7. What is the difference between a blue-collar worker and a white-
collar worker?
8. What are the basic sources of people’s incomes?
9. What determines how income is distributed in a market system?
10. What evidence shows that a gap exists between the rich and the
poor?
11. What is the multiplier effect of spending?
12. What effect would an increase in demand for shoes have on total
investment spending?
‒ 189 ‒
 REVIEWING THE CONCEPT
4.4.2 Say whether these statements are true (T) or false (F), and
if they are false say why.
e.g. I believe it is true that… .
I strongly doubt that … because… .
T F 1. Proprietor compensation is the income that people working
for themselves and not on the payroll of a company earn.
T F 2. The income earned by working for others includes wages
and fringe benefits such as health and accident insurance
and is called proprietor compensation.
T F 3. Money paid as income on investments or loans is called
interest.
T F 4. Money paid to use an office or house or factory for a
period of time is rent.
T F 5. The total income is the sum of employee and proprietor
compensation, corporation profit, interest and rent
excluded.
T F 6. Gifts, inheritances, rent and aid to the poor are examples of
transfer payments – money one person or group gives to
another, only if the receiver has provided a specific good or
service.
T F 7. At present most people are employees and not self-
employed.
T F 8. A house, a car, a debt, allowance, a paycheque, a gift, or
jewelry, are not only a part of an individual’s income but
also of any resource that can be used to produce income.
T F 9. Most of an individual’s income is spent and thus becomes
income for someone else or, in other words, multiplies
throughout the economy as others receive and spend parts
of it.
T F 10. On the evidence to date spending has resulted in changes
throughout the economy.
‒ 190 ‒
4.4.3 Change the italicised expressions by the synonyms from
the box
(a) interest; (b) employee compensation; (c) to be self-employed;
(d) transfer payment; (e) rent; (f) wage; (g) corporation profit (2);
(h) proprietor income
Nothing in the economy can change without causing changes
throughout the entire economy. Think of what happens when
workers receive a (1) pay raise. As consumers, these individuals
have more money to spend. As they increase their spending,
corporations receive greater (2) income.
There are five basic types of income in the USA: (3) the income
earned by working for others; (4) income earned by people who work
for themselves; (5) the income that a corporation has after paying all
of its expenses; (6) money paid or received for lending money; (7)
income from fees charged to people for the privilege of using
property temporarily. The distribution of income between the five
categories changes over time. During the past century, the percentage
of people (8) who work for themselves has generally declined.
Increasingly, people are employees and not employers.
One other type of income is (9) money that one person or group
gives to another even though the receiver has not provided a specific
good or service. Gifts, inheritances, and aid to the poor are examples
of this type of income.
1 2 3 4 5 6 7 8 9

4.4.4 Replace the Russian word combinations by their English

equivalents. Summarise the dialogue.
A.: I dare say that the good news is that thanks to the bad news of the
energy crisis and sky-high (цены), the habit of mindless waste is
replaced with the intention to cut down everything possible.
B.: My attitude from the beginning of the energy crisis has been that
to begin with we should apply common sense to cut down on heat
waste.
C.: I know that to avoid (долги) more people are scheduling meatless
meals. Some are raising vegetables for reasons other than taste.
‒ 191 ‒
A.: Of course if the government doesn’t supply people with (допол-
нительные выплаты), cuts aid for the poor, the signs of thrift and
prudence1 are seen all over the country. For example, families are
turning to the second-hand markets for things like bikes, people
are taking more shoes to shops for repair.
C.: You may well be right, people are eager to find (временную
работу) mending goods like handbags, belts and golf bags.
B.: You have a point here, the do-it-yourself trend in carpentry,
plumbing, auto repair, where people (работать на себя, не по
найму) is expanding. I have also noticed that solid citizens have
taken to buying used clothes, and garage sales and tag sales are
popular in many neighbourhoods.
A.: I see what you mean, also those who (владеет собственностью)
seem increasingly willing to utilise the refuse of daily existence –
cans, bottles, newspapers – into recycling systems. Some
restaurants report more calls for doggie bags for taking home left-
overs.
C.: I agree completely. Even proprietors are learning to turn out lights,
when they are not in use, to cut (деловые издержки).
4.4.5 Render the following into English:
A.: Насколько мне известно, в настоящее время доходы студен-
тов разнообразны, поскольку они часто получают средства
либо от родителей, либо стипендию в вузе. Меньше студен-
тов имеют сберегательный счет в банке и получают процен-
ты по нему.
B.: Я абсолютно с Вами согласен. К тому же сегодня большин-
ство студентов заняты на временных работах, получая
определенные выплаты, и эта заработная плата позволяет
им расширить источники доходов.
A.: Интересно, что некоторые предприимчивые молодые люди
имеют свой бизнес и работают на себя, т.е. получают доход,
уплатив все деловые издержки. Увеличивается число тех,
кто использует в качестве дополнительного дохода аренд-
ную плату за какую-либо собственность.
1 Экономность и бережливость.

‒ 192 ‒
B.: Другими словами, если студент хорошо изучил, как люди
зарабатывают деньги, это поможет ему увеличить собствен-
ный доход.
A.: Точно! Лучше не скажешь! Вот когда наступает время оце-
нить, а иногда и измерить в денежном выражении знание
экономики!
C.: В основном я с Вами согласен, но иногда студенты имеют
далеко не один источник дохода. И всего лишь малая часть
такого рода доходов тратится на то, чтобы оплатить расхо-
ды на образование.
B.: Позвольте здесь с Вами не согласиться. Всё же большинст-
во студентов не получают ни зарплаты, ни процентов по
вкладам, ни доходов от предпринимательской деятельнос-
ти. Основным источником их доходов является помощь
родителей или стипендия, которую нельзя отнести к по-
стоянным выплатам, так как она зависит от результатов
экзаменов.
C.: Может быть, Вы и правы. Тем не менее в основе различий,
на мой взгляд, лежит необходимость отличать доход от
богатства.
A.: Что Вы под этим понимаете?
C.: Общеизвестно, что доход – это еще вовсе не богатство. Зато
богатство можно использовать для получения дохода, на-
пример, в виде ренты, процентов от вкладов, дохода от
акционерного капитала какой-либо корпорации. Поэтому
источники доходов студентов зависят от источников благо-
состояния их семей.

4.5 SPEAKING & WRITING

Language focus
4.5.1 Saying numbers: fractions
We say simple fractions like ordinal numbers (fifth, twenty third, etc.):
a (one) third a (one) fifth a (one) sixth
Also: ⅛ – one eighth, ⅜ – three eighths, ⅔ – two thirds, ¼ hour – a
quarter of an hour, ¾ hour – three quarters of an hour.
‒ 193 ‒
More complex fractions can be expressed by using the word over.
²³³ ⁄ 509 – two hundred and thirty three over five hundred and nine.
Notice, however, the following: a half, three quarters, two and three
quarters, a quarter, three and a half.
What are these fractions in figures? Write them.
eleven sixteenths
three sevenths
two fifths
three quarters of an hour
seven tenths of a mile
two and three quarters per cent
two and two thirds inches
three fifths of a ton
a (one) quarter of a kilometer
two thirds per cent = two thirds of one per cent
What are these fractions in words? Write them.
⅛, ½, ¼, ¾, ¾ hour, ⅓, ⅔, ⅜, ⅝, ⅞, ²⁄5, ²³⁄409, ³³⁄507, ¼ hour, 5¾
tons
Read the following:
In an opinion poll published today, over ¾ of the electorate say they
intend to vote in next month’s referendum. ¼ of voters say they will
definitely vote Yes, while ⅓will vote No. But this leaves over ²⁄5 of
the voters who haven’t made up their minds. Both sides remain
hopeful. A spokesman for the “Yes” campaign said, “At the moment,
⅔ of the electorate won’t vote No.” A spokesman for the other side
replied, “That’s true, but ¾ won’t vote Yes!”

4.5.2 Fill in prepositions or adverbial particles where necessary.

(Below is an extract from a TV interview)
TV correspondent: The debate on the distribution … income often
focuses … the conditions … the poor … the United States. Carla
Sanderson is one … America’s poor. … November 6, Carla and
‒ 194 ‒
 her three children dined on frozen waffles and water. Carla knew
that her children would have to eat waffles or nothing. Carla,
what is your monthly pay?
Carla Sanderson: Well, I’d just like to say that my monthly take-
home pay is $718, but I have paid the $365 … the month’s rent
and utilities, and some other bills this month.
TV correspondent: Would it be right to place your family among
the poor?
Carla Sanderson: I have grown … … a middle-income family. To
admit the truth, I am poor. The last week … August we ate
oatmeal three times … a day because that’s what was left … the
cupboard; can you believe that?
TV correspondent: The Bureau of the Census defined poverty as an
income … $9,862 a year1 … a family … four. This amount was
$1,000 more than Carla Sanderson earned … a secretary … a
local government agency … a small city.
Carla Sanderson: Sorry to butt …, but about a year ago I left my
husband in California. He was sick … alcoholism and I worried …
the safety … our children. I sold my possessions and started …
home. Within two weeks I found an apartment and a job. The rent
… the apartment was nearly 50 per cent … my income. I decided to
stay here no matter how difficult it was to meet expenses. I buy
clothes … thrift shops2. I received $60 … a month … the federal-
and state-funded program … parents … children under 18. But
government budget cuts eliminated my child aid. So I have only to
rely … income … my job.
TV correspondent: Thus, unemployment is not one … Carla
Sanderson’s problems. She has a job, though it doesn’t pay well.
Stretching her income to meet daily expenses is her main economic
problem.
Task 1. Sum up Carla’s income and expenses.
Task 2. Prove that Carla’s income is not enough to cover her
spendings.

1 In 1989. Poverty level for a family of 4for 2015 was defined as $24,300.
2 Stores selling used but serviceable clothes.

‒ 195 ‒
Presenting information

4.5.3 Write a 100-word essay about various sources of income

and the effects of spending. Make use of the supporting
materials in order to illustrate it.

1. Name five professions, other than in the text, determine their

major source of income and the type of work they perform.

2. Give an example of each of the four basic types of work people

perform.

3. Give an example of income an individual may receive from each

of the basic resources – land, labour, and capital.

Supporting materials
The traditional distinction between male breadwinners and female
housewives no longer fits reality.
Family life today is organization by a diverse and complex range
of social relations.
Moreover, women have increasingly entered paid employment
over the last fifty years and they now form almost half of the
workforce in most modern industrial societies.
These changes have led some commentators to suggest that
women are gaining equality at last and that a shift in power from
men to women is taking place.

Task
Consider the following table and interview as many people as
possible in order to make the similar table about Russian
household.
Compare the findings and report them in the form of Power
Point presentation.
‒ 196 ‒
 Money management in the British household.

Family
% Income level Employment
category
Husband- 38,0 Higher-income Wife is not in paid work or
controlled families she has part-time work
pooling
Wife- 26,5 Middle-income Both partners in full-time
controlled families paid work
pooling
Husband- 21,7 (Traditional Man is the sole or main
control model) earner
Wife- 13,8 Low-income Both partners are
control families unemployed or income
comes from social-security
payments

4.6 DIALOGUE
RECRUITMENT
When a company needs to recruit or employ new people, it may
decide to advertise the job or position in the appointing page of a
newspaper. People who are interested can then apply for the job by
sending in a letter of application and curriculum vitae containing
details of their education and experience. The company will then
draw up a list of candidates, who are invited to attend an interview.

4.6.1 Read the dialogue about the Personnel Manager who

answers questions about the way he interviews and selects
candidates. Sum up:
 the mistakes a candidate can make in an interview
 the qualities a candidate must have
 his advice to interviewees
 the kind of things a candidate must have

‒ 197 ‒
Personnel Manager (P.M.): The most important thing when
interviewing a candidate is his character, his ability to react, his
intelligence and his suitability for the position for which he is
being interviewed.
Reporter (R.): And to what extent does the person’s appearance
influence your decision?
P.M.: It is important that the person is well presented, is neat and
tidy, and that he or she has a good manner, because that shows a
lot about personality.
R.: Do you expect the candidate to be prepared in any way for the
interview, or how should he prepare himself for the interview?
P.M.: Normally the candidate has had one or two interviews with
junior members of the staff before he gets to my level, and I
expect the person concerned to have a good knowledge of what
the company does, what he’s expected to do, and who he is
going to report to. If the candidate doesn’t give an impression of
understanding one of those three items, then he gets marked
down accordingly.
R.: How does a candidate go wrong?
P.M.: The major way a candidate goes wrong is by basically becoming
a yes-man or a yes-woman and agreeing with everything you
say. Also you have to feel that the candidate is going to be good
and he has to show himself to be not just “Yes, sir, thank you very
much. Yes, I agree with that.” Sometimes I lay dummy questions,
in which I want a “no” answer, and if he continues to say “yes”,
then he goes down.
R.: What would you advise to a candidate, going to an interview?
P.M.: I would say to him first of all to listen; secondly, to ask the right
questions; and, thirdly, perhaps, the most important, to create the
right kind of relationship, I would call it an adult-to-adult
relationship with the interviewee or the interviewer. When you get
a yes-man in front of you, he is creating an adult-to-a-child
conversation and in most cases managers are not interested in
employing a child.
‒ 198 ‒
4.6.2 a. Read the following dialogue.

AN INTERVIEW FOR THE JOB

Secretary (S.): Come in! (A young woman enters, rather formally
dressed, smiling to cover her nervousness.) Janet Nicholson,
isn’t it?
Janet (J.): Yes, that’s right.
S.: Do sit down, Janet. Now – you’re 21, and you’ve just finished at
the University of Kent. Your professor thinks you ought to get a
good degree – an upper second probably – in French, statistics
and finance. What made you choose finance? It’s not a subject
studied in school – perhaps that was why?
J.: Well, partly.
S.: And partly what else?
J.: I thought I’d like to learn something about financial matters.
S.: Now you have applied to work with us as a junior assistant:
suppose you tell me a bit more about yourself?
J.: (rather taken aback): What sort of thing?
S.: Do you think you’d like working in an office?
J.: I did do three weeks as a temp in my Easter vac – just filing and
that sort of thing. But I want to use my university subjects really.
S.: Of course. Do you think you would mind routine work, like
reading foreign papers for us every day?
J.: I should love it.
S.: And you wouldn’t mind being just a back-room girl?
J.: I don’t think so. I like making digests. I did a little for my Prof. last
vac.
S.: Good, good. Now isn’t there anything you like to ask me?
J.: (nervously): You said “good salary” in the advertisement, but
you actually didn’t say how much.
‒ 199 ‒
S.: We were thinking of $900 as the rate for the first three months:
You’d have to be on probation for three months, and then if
everything was satisfactory we’d raise it to $1,000 after that.
J.: (rather surprised at her own boldness) I suppose you couldn’t
make it $1,000 for a start and $1,100 afterwards?
S.: Well, I’ll tell you what we’ll do. My partner wants to give you a
written test now, if you go to the room at the end of the corridor.
Assuming you pass that, write to us when you’ve got your degree
results, and if you get an upper second we’ll start you at $1,000.
J.: Thank you. (Rising) I’ll let you know. Goodbye. (She goes out.)

b. Use the models below to write Janet’s letter of application

and CV.
c. Analyse the interview as if you were the Personnel Manager
from the previous dialogue.

Communication skills
The letter of application normally contains three or more
paragraphs in which you should:
 confirm that you wish to apply;
 say where you learned about the job;
 say why you are interested in the position and relate your
interests to those of the company;
 show what you can contribute to the job by highlighting your
most relevant skills and experience;
 indicate your willingness to attend an interview (and possibly
state when you would be free to attend).

‒ 200 ‒
4.6.3 Look at the sample below. Write Janet Nicholson’s Letter
of Application, making use of the information from AN
INTERVIEW FOR THE JOB above.
Edith Roberts
6 Carlswood Street
Redhill
Surrey
8th January

Mrs Cynthia Dryden
44 Randolf Square
London EC1 4BE

Dear Mrs Dryden,
I would like to apply for the post of personal assistant advertised in
today’s Guardian.
As you can see from my curriculum vitae, I have had six years’ experience
as a personal secretary. Five of these have been in films and television and
I am particularly keen to continue working in this industry.
I enclose my curriculum vitae and will be available for an interview any
day after 21 September and able to take up a new appointment from 1
October.
I look forward to your reply.

Yours sincerely,
Edith Roberts
EDITH ROBERTS

Enc: 1

4.6.4 a. Study the following CV carefully to see how the

information is presented and decide where each of the
following headings should be placed:
(a) REFERENCES (c) PERSONAL DETAILS (e) EDUCATION

(b) INTERESTS (d) PROFESSIONAL (f) ADDITIONAL

EXPERIENCE SKILLS

‒ 201 ‒
b. Use the following as a model for Janet Nicholson’s CV.
Curriculum vitae
1_______________
Name: Susan Robertson
Date of Birth: 6 June 1968
Nationality: British
Address: 52 Hanover Street
Edinburgh EH4 3LM
Scotland
Telephone: 031 449 0237
2_______________
1991–1992 London Chamber of Commerce and Industry
Diploma in Public Relations
1988–1991 University of London
BA (Honours) In Journalism and Media Studies
1981–1988 Fettes College, Edinburgh
A-levels in German (A), English (B), History (B)
3_______________
1992 to present: Scottish Wildfire Trust
Department of Public Relations
Summers of Three-month training period with the Glasgow
1990 and 1991 Herald. Assistant to the sports editor.
Summer of 1989 Sales assistant in the record department of Harris
Stores Ltd., Edinburgh
4_______________
Sports: Cross-country skiing, rock-climbing and swimming.
Secretary of the local branch of “Action”, an association organising summer
camps for disabled children.
5_______________
Camp counselling certificate
Grade 3 ski instructor
Driver’s licence (car and motorcycle)
PC user (Word, Excel, Power Point)
Fluent German and good working knowledge of French
6_______________
Geoffrey Williams, Professor of Journalism, University of London
Bill Denholm, Sports Editor, Glasgow Herald
‒ 202 ‒
WATCH OUT: translator’s “false friends”.
Income-returns-profit-surplus
4.6.5 a. Look up the dictionary to find the difference between
the words income, returns, profit, surplus. Match the words
with their meaning.
1. income A a financial gain, especially the difference
between the amount earned and the amount spent
in buying, operating, or producing something
2. returns B an amount of something left over when
requirements have been met; an excess of
production or supply; an excess of income or
assets over expenditure or liabilities in a given
period, typically a financial year; the excess
value of a company’s assets over the face value
of its stock
3. profit C a profit from an investment
4. surplus D money received, especially on a regular basis, for
work or through investments
b. Fill in the blanks with income, returns, profit, surplus.
1. Product areas are being developed to produce maximum … .
2. I advise you to keep record of your actual … and expenses for a
month.
3. Could you invest $30,000 now forego a college education, and with
your investment … still have the same lifetime earning power as a
college-educated person?
4. Equilibrium price is the point when there is no … or shortage so there
is no pressure on price.
5. This is the sort of … one could expect for unskilled, casual or part-time
work.
6. If the price is too high, a … will develop and move the item’s price
down.
7. Growth also keeps people employed and earning … .
8. Entrepreneurs, seeing the opportunity of … in a growing economy,
will form new businesses, such as consulting firms, restaurants and
stores.
9. The managers are sure that future … from the equipment justify the
purchases.
‒ 203 ‒
4.7 READING FOR CROSS-CULTURAL
ASSOCIATIONS
a. Consider the information below. Carry out an INTERNET
research to draw a parallel between labour problems in Russia
and the UK. Use Tables 1 and 2.
Recently the changes in the areas in which people work in Britain
have affected the kind of work that they are required to do. As might
be expected, the better educated one is, the less likely one is to be
unemployed. Only 5% of people with a university degree are
unemployed as compared to 14% of those who have no qualifications.
In Britain today there are fewer and fewer jobs which require
unskilled, manual labour – partly because of the decline of
manufacturing and heavy industry; partly because more and more
jobs in all sectors require workers to be more skilled and qualified.
For example, between 1991 and 2000 there was a growth of 27% in
employment in managerial and professional jobs, whereas there was
a drop of 24% in machine operatives (factory workers without
specialist skills). Not only is there an increase in the number of
higher skilled jobs, the general skill requirement of quite ordinary
jobs is increasing nowadays.
The way in which work is organised is also changing. In certain
trades and professions it has always been relatively common for
people to work on a “freelance1” basis, e.g. in journalism, or
construction industry, where craftsmen are often employed for the
duration of a particular building project. But “contract working” is
becoming much more common. In an extremely wide variety of
occupations people are now employed for limited, fixed periods,
after which they have to find themselves another position.
There has been a dramatic increase in the amount of part-time
work. (This is defined as working 30 hours or fewer a week). In 2010
at 7.82 million the part-time employment level was the highest since
records began in 1992, and represented more than a quarter of the
workforce.
Moreover, 80% of part-time workers are women. There are two
reasons for this. First, women are more likely to want to work part-

1 Внештатный сотрудник.

‒ 204 ‒
time in order to fit in with child care and family responsibilities.
Second, women are more in demand in those areas where part-time
work is prevalent.
The “average” male wage in Britain is £30,5481 per year. This is
the sort of wage that might be earned by a skilled craftsman, such as
a bricklayer, of someone in a middle management job, for example a
junior bank official. The personal allowance or income tax threshold
was £4,745 (people with incomes below this level did not pay
income tax). The mean income was £22,800 per year with the
average Briton paying £4,060 in income tax.
Table 1

50,000+ 2

30,000-49,999 5

20,000-29,999 13

15,000-19,999 15

10,000-14,999 23

7,500-9,999 14

5,000-7,499 17

Up to 4,999 12

0 5 10 15 20 25

This chart shows that nearly a quarter of households2 have an

income below £10,000 per year. While this may sound like a rea-
sonable amount of money, it would be extremely difficult – bearing
in mind the costs of living in Britain – for even a single person to
live well on such wages. This is the sort of income one could expect
for unskilled, casual or part-time work. It is also the sort of income
upon which many old age pensioners have to live.
However, £10,000 would be considered a reasonable wage by
most people for a young person who had just left school and was
starting his or her first job at a junior level. (Such young people

1URL:

http://www.payscale.com/research/UK/Country=United_Kingdom/Salary/by_Gender.
jpg. 25/06/2016.
2 Домохозяйство.

‒ 205 ‒
would be likely to be living with their parents and so would not have
to support themselves entirely).
Those who earn between £10,000 and £20,000 would probably
be described as working class, or lower middle class. This would
include skilled manual workers and clerical employees. It would also
include individuals in junior managerial or professional jobs, many
of whom could expect to earn considerably more as their career
progressed. For example, the average starting salary of a university
graduate is around £14,000 to £15,000.
In the £20,000 to £30,000 bracket would be found better off
skilled workers and those in the middle-management levels of
business, public administration and professions; a teacher, army
officer, mid-ranking business executive, for example. These people
are comfortable by British standards. They will almost certainly own
their own home in a desirable area, have a car and be able to take
foreign holidays.
As can be seen, few earn between £30,000 to £50,000 and this sort
of income would be seen as well off by most people. People in this
bracket would include individuals in higher managerial, professional or
administrative roles, such as accountants, solicitors, senior university
lecturers, fairly senior business executives and so on.
A very small number of people earn more than £50,000 per year.
They are at the top of their profession or business. Of course, a select
few earn sums vastly in excess of £50,000 – beyond the dreams of
most of the population.
Table 2
Median Salary by Job1
Job National Salary
Data
Office Administrator £16,315
Project Manager, Information Technology (IT) £40,941
Sr. Software Engineer / Developer / Programmer £39,105
Graphic Artist / Designer £20,385
Personal Assistant £24,270

1 Country: United Kingdom | Currency: GBP | Updated: 16 Aug 2011.

‒ 206 ‒
 Retail Store Manager £21,021
General / Operations Manager £35,389
The chart above shows median1 UK salaries for a range of job
titles, from personal assistant to IT project manager. In general,
software and IT positions show higher salaries while occupations
such as graphic designer and retail manager show significantly lower
salaries.
Of course, salaries for any job in the UK will vary depending on
the industry, an individual’s qualifications, location and other
factors. Measuring UK Salaries by City puts London way ahead of
many other UK cities (to find out more about the average salary in
London, see PayScale’s London Salary Report).
When comparing average wages in the UK by employment
setting, government and university positions rank well while non-
profit, hospital and other positions are lower on the UK Salary by
Employer Type chart.
b. Consider the information above and finish the following
“Do you think …” questions.
Ask you partner to answer them.
1. Who do you think is … ?
2. Why do you think there has been … ?
3. What percentage do you think … ?
4. For what reason do you think … ?
5. In what way do you think … differ?
6. … do you think … ?
7. … do you think … ?
8. … do you think … ?

1 Средний, срединный (от слова медиана)

‒ 207 ‒
4.8 ROLE-PLAY
Consumer skills
FINDING A JOB
Situation:
You start looking for a job and learn how to do it using every
opportunity.
What you must decide:
Find out where to start looking for a job, which documents should be
presented / filled out, how to get ready for an interview.

Cast
Student A
Student B
Student C
Student D
Student E
Student F
Student G
a. Looking for a job openings.
Enact the following talks between Student A, involved in job-
hunting, and Students B, C, D and E.
Student A
You are a student involved in job-hunting. You discuss this problem
with your friends: a final-year student, your group-mates and your
former school-mates. You wonder where you should start looking for
job opportunities, what your first steps should be.
If you were to begin looking for a job today, for what would you be
qualified? What kinds of jobs are open to students? Would you need
a resume?
‒ 208 ‒
Make use of the helpful phrases:
 I am afraid I know next to nothing about it.
 Do I have to … ?
 That sounds like good advice. Thank you.
 I’m not sure I can do that. You see …(excuse).
 Isn’t there anything else I could do?
 I’m sure that’s excellent advice, only … .
 I’m afraid that’s out of the question.

Student B
You are a final-year student. You have some experience in job-
hunting as you have started looking for a job and had talks with
managers in different places (supermarkets, fast-food restaurants,
stores, shopping centres) in order to find out if any jobs are available.
You explain to your friend that the market place does not hire just
anyone. In fact teenage unemployment is traditionally twice as high
as overall unemployment rate. Where you look for work and the
techniques you use in applying can be the difference between getting
the job and remaining unemployed.
Make use of the helpful phrases:
 Personally, I would advise you to … .
 You should keep in mind that … .
 I think your best course would be to … .
 It might be a good idea if you did it.
 Mind that … .
1
 Fortune favours the brave .

Student C
You think that to begin with one should use all possible sources when
job-hunting. You assume that one of the simplest but often overlooked
sources is word-of-mouth. Your friend should let his friends and
relatives know he is looking for a job and ask them whether they know
of any job openings. Advise your friend to go to adult education center.
There are full-time and part-time courses and one can even do
correspondent courses, working for a qualification at home.
1 “Судьба благоприятствует смелым” (“смелым всегда удача”, “смелость
города берет”).
‒ 209 ‒
Make use of the helpful phrases:
1
 First of all, never say die .
 It goes without saying.
 If you ask me, I would …
 Why not do that?
 I think you should do …
 Better late than never.

Student D
You have tried another way that you consider often successful, e.g.
to go to the supermarket near your home. You suggest asking the
manager whether any jobs are available now or in the near future, fill
out applications for jobs, leave your name, address and telephone
number so that they can contact you if any jobs become available.
Make use of the helpful phrases:
 As you know … .
 I suggest you do … .
 Why don’t you do … ?
 I have nothing against it.
 Frankly speaking, … .
 Rome was not built in a day.

Student E
That sounds a good idea to you. Besides you’ve heard that
newspaper ads or “classifieds”2 are a good source of job openings, as
well as school councillors and teen job services. Often schools have
bulletin boards where job openings are posted. Also, you know that
public bulletin boards in stores list job openings. You think it might
be a good idea to use private job agencies. But in this case your
friend must be very cautious. Unlike public job agencies, the private
firms charge a fee, sometimes a percentage of your salary.
Whichever source your friend uses he shouldn’t be shy about seeking
the job.
1 Никогда не следует падать духом.
2 Classifieds, classified ads ‒ “доска (рекламных) объявлений” ‒ раздел, секция,

рубрика печатного периодического издания или интернет‐сайта, где

группами публикуются обычно небольшие и сравнительно недорогие
рекламно‐информационные сообщения.
‒ 210 ‒
Make use of the helpful phrases:
 I see.
 If it helps you, I’ll be very glad to … .
 I am all for it!
 As far as I know ….
 It’s a well-known fact that … .
 Anyway, … .
1
 And mind, second thoughts are best .

c. Getting ready for an interview.

b. Enact the following talks between Student A, Student F and
Student G.
Student A
You have finished with your first step in job-hunting and you know
that the second step is to fill out an application. After you find a job
opening, you will have to show your potential employer why you
are the right person for the job. In a sense, you are now selling a
product – yourself. You want the employer to purchase your abilities
rather than those of someone else. You ask your friend to permit you
to use his name as reference. You know that often an employment
application requires that you give names of friends or acquaintances
as references and your prospective employer may contact these
people to find out about your work habits and skills. Then you put
one more step into your plan, i.e. “Write a Resume”. You are sure
that it is very useful to have someone else to read your resume. In
your opinion these three steps are the most important ones in job-
hunting.
Make use of the helpful phrases:
 That seems like good advice. Thank you very much.

 Would you mind if I … ?

 I see what you mean.

 In a nutshell, … .

 That sounds a good idea.

 That’s certainly a possibility.

1 “Семь раз отмерь, один раз отрежь” (ср.: “Вторые мысли – лучше”).

‒ 211 ‒
Student F
You would like to point out that usually the employer asks you to fill
out an application. You ask your friend to take into consideration
that this step can be crucial. His potential employer must select
candidates to interview, often using the application as a guide. You
think the applicant should read the application form through before
beginning to write. Your friend should make sure he understands
what information is being requested, write neatly, and provide
complete information. You don’t object to using your name as
reference. You attract your friend’s attention to the following:
employers looking for permanent, full-time workers often require a
resume – an outline of your educational and employment background –
in addition to an application. You know that some employers may
want a resume for part-time employment. You emphasise that
writing a resume while you are still a student provides practice at a
skill you will need again in the future.
Make use of the helpful phrases:
 I totally agree … .

 But make sure that … .

 I don’t mind it, of course you may … .

 Be careful!

 First impressions are most important.

 Moreover, … .

 To cut a long story short ... .

 OK, keep me in the picture.

Student G
You also don’t object to using your name as reference. From your
point of view there is one more step that can affect an employer’s
decision – that is an interview. You advise the beginner in job-
hunting to find out something about the firm before going to the
interview. You advise your friend to be on time, dress neatly, comb
his hair, be polite, answer questions thoughtfully, speak clearly, and
when he leaves, thank the interviewer for talking with you.
‒ 212 ‒
Make use of the helpful phrases:
 In my opinion, … .
 Mind the proverb “When you are smiling the whole world
smiles with you”.
 A good beginning makes a good ending.
 Watch out !
 What about … ?
 Remember: most people hire people they like, rather than the
most competent person.

Making a Decision
In coming to a decision, consider the following points:
 Rules of successful job-hunting.

 The pitfalls of a job interview.

 Documents needed while applying for a job.

What other factors should be discussed?

Your decision:

‒ 213 ‒
4.9 GRAMMAR BACK UP
PRACTICE WITH VERBS (III)

LEAD-IN
Exercise 1
Task 1. Familiarize yourself with the text. Consult the Grammar
notes below. Translate the text into Russian. Supply it with the
suitable title.
Harper & Grant Ltd. is a growing company. A growing firm needs
to advertise. Up till now, the Sales Manager, John Martin, has dealt
with the advertising. He is going to employ an Advertising Agency
to design the advertisements and place them in certain newspapers
or magazines. An Advertising Agency is an organization which is
supposed to handle advertising on behalf of the advertiser. It
employs artists, copywriters, etc., who are specialists in the field. Its
staff ought to be specialists in buying space in newspapers, or time
on radio and television. They are usually able, therefore, to do a far
more professional job than the advertising manager who belongs to
a firm and who therefore has a limited experience. However, now
the firm will have to employ an advertising manager to liaise with
the agency. At Harper & Grant, John Martin is now too busy on the
sales side to be able to handle the work involved. He needs an
expert who will supervise an advertising campaign, check proofs,
make sure that the agency use the media which best suit the
company’s interests. The media are the various means by which one
may advertise, for example in newspapers, magazines, on television,
and on hoardings, large display boards, etc. John Martin also cannot
cope with the increasing public relations work. This side of the
business involves contacts with the public at large through
newspapers, magazines and television, and must give editors correct
information about the company and its products, when such
information is needed. Mr. Grant has agreed that they had better
appoint a new advertising manager, who should relieve John Martin
of this work but still be ultimately responsible to him for
advertising. In fact, the new department must be a branch of his
Sales Department. However, Mr. Grant is very interested in public
‒ 214 ‒
relations and insists that the new “ad man” ought to be responsible
to him for this side of the job. An advertisement has been inserted in
the “situations vacant” column of several appropriate newspapers,
giving details of the new appointment and inviting applications for
the job. John Martin has to go through the written applications and
decide which of the applicants have the right qualifications for the
post. He is then supposed to interview the selected applicants from
his short list and send his candidate, or candidates, to Mr. Grant for
the final interview.
Task 2. Construct 10 conditional sentences based on the facts
given above. Follow the model:
e.g.If the firm hires an advertising manager John Martin will be able
to cope with the increasing public relations work.
If the new advertising manager is appointed, he will contact the
public at large through newspapers, magazines and television, and
will have to give editors correct information about the company and
its products, when such information is needed.
PRACTICE WITH FUTURE:
WILL, GOING TO AND THE PRESENT
CONTINUOUS FOR THE FUTURE
Look up a Grammar book and find answers to the following
questions when checking ways of expressing the future.
1. When do we use will to talk about the future in English?
a. We use shall / will + infinitive when we are simply giving
information about the future, or predicting future events which
are not already decided.
You will not have anything left to buy other things,
because you have spent all the money.
As the price of the item increases, a smaller quantity will be bought.
When we predict the future, we often use will with the following
verbs and expressions: think, expect, believe, be sure, be afraid.
I think it will help you to understand how demand
and supply work.
‒ 215 ‒
b. We also use will when we decide to do something at the moment
of speaking.
I’m tired, I think I’ll go to bed early tonight.
c. You can use won’t to say that somebody refuses to do something:
Peter tried to give John advice, but he won’t listen.

2. What is the difference between will and to be going to when

used in predictions about the future?
a. We use to be going to to emphasise the idea of intention, of a
decision that has already been made.
I am going to stop him putting us in a mess because of overdue
delivery even if it’s the last thing I do.

b. We use to be going to to make predictions based on present

evidence.
Oh, no! Look at those cars! They are going to crash!

c. We use to be going to when we have already decided to do

something.
‒ I’ve heard you are rescheduling the production line.
‒ That’s right, I am going to meet an urgent order.

3. When do we use the present continuous and to be going to to

express future in English?
a. When we talk about things, we have already arranged to do, or
planned to do in the future, we can use the present continuous or
going to.
I can’t come to you tomorrow, I am working overtime.
Mr. Martin is having (going to have) a talk with H. Grant about the
delay in delivery of the plastic coated sheets tomorrow morning.
b. When we make predictions about the future we can use going to
(or will), but not the present continuous.
We have failed to meet the delivery date! It’s going to cost
us a lot of money!
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Exercise 1
Choose the correct form of the verb.
1. I hear the government has announced it will raise / are going to
raise taxes again.
2. At what point will the consumer stop buying / is the consumer
going to stop buying the commodity at the current price?
3. My car won’t start / isn’t going to start. It must be the cold, I
think.
4. Why don’t you come round tomorrow and I shall / am going to
cook you a meal?
5. I’ll start / am going to start a new job next week.
6. A consumer will go on buying / is going on buying a product
for as long as he continues to be satisfied.
7. The demand for the commodity will go down / is going to go
down if the quantity of the commodity increases.
8. – John told me that you are delivering the console control desks
for a big computer company. – Yes, we will / are going to sign
another contract with it next month.
9. The suppliers have got some trouble. I’m afraid they will be /
are going to be late with delivery.
10. – Would you like to come to the Sales Office and discuss the
penalty clause with us? – All right. I shall come / am going to
come at 11.
11. – Have you changed your mind about accepting the offer? – No,
I shall accept / am going to accept it.
12. – I’ve come out without any money. – Never mind, I’ll lend / am
going to lend you some. How much do you want?
13. – Look what I’ve just bought at an auction! – What an
extraordinary thing! Where will you put it / are you going to
put it?
14. – I’ve planned my actions for the next week. – That is very
clever of you. What will you do/are you going to do with that
penalty clause?
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Exercise 2
Put the verb into the correct form using will or going to.
1. The prices determine who _____ (to buy) the products and what
_____ (to be) the mix of consumer and capital goods.
2. – Look! There is smoke coming out of the assembly shop! It’s on
fire!
– Good heavens! I _____ (to call) the fire brigade immediately!
3. – We haven’t delivered goods in time.
– Yes, our partners _____ (to claim) compensation.
4. – Have you decided on what to do when the price goes up?
– Oh, yes. If the price goes up a little, chances are I _____ (to
pay) extra amount rather than go without this product.
c. – What shall we do with the failure of suppliers to deliver on
time?
– I don’t know! I can’t make up my mind!
– Come on, hurry up! Make a decision!
– Okay then. We _____ (to insist) on the penalty.
6. – Why are you looking for the file under Bills of Lading?
– Mr. Martin _____ (to find) the exact date of clearance for this
vessel.
7. In a perfect market there can be only one price for a given
commodity; the lowest price which sellers _____ (to accept) and
the highest which buyers _____ (to pay).
8. The financial sacrifice _____ (to become) too great when the
quality of a commodity gets worse.
9. – I hear you have been offered a job. – That’s right, but _____
(not to take it).
10. – This food is awful, isn’t it? – Yes, it’s disgusting! I _____ (to
complain).
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Exercise 3
Complete the conversation. Use will/shall, going to, present
continuous and the verbs given. Write a short summary of the
situation.
Mary and Nigel run a shop together
Monday
M.: I don’t know what _____ (we /do). We’ve hardly made any
money for ages.
N.: I think we should advertise. We can send our leaflets.
M.: Yes. _____ (that /probably /get) our name more widely known.
But do you think _____ (people /come ) into the shop?
N.: Well, we could try advertising in the local paper.
M.: That might be better. _____ (I /phone) and find out their rates.
And what about local radio?
N.: Good idea. _____ (I /phone) them?
M.: OK, thanks.
Tuesday
M.: We haven’t got enough money to pay for all the advertising we
need. I’ve been in touch with the bank. _____ (I /see) the
manager on Friday.
N.: _____ (he /give) us a loan, do you think?
M.: I hope so.
Friday
Manager: So you want to borrow some money. How ___ (you /spend)
it?
M.: _____ (we /advertise) on local radio and in the paper. We’ve
planned it carefully. We only need 500 pounds.
Manager: Very well. _____ (the bank /lend) you the money. But
you must pay us back in three months. Can you do it?
M.: _____ (we, do) it, I promise.
Manager: Now, go and see the loans clerk and _____ (he /help) you
fill in the necessary forms.
M.: Thank you for your help.
Manager: You’re welcome.
‒ 219 ‒
 PRACTICE WITH THE PRESENT SIMPLE
FOR THE FUTURE
1. What kind of events do we mean when we use the present
simple for the future?
a. We use the present simple to talk about future events, which are
part of a fixed timetable or fixed program or arrangement or plan
which cannot change.
The firm submits an application for specialists’ training in
March.
The first group of trainees comes in May (about the program of
training).
b. We use the present simple to refer to the future in clauses of
time and condition after when, while, as soon as, after, before,
until, if, unless, as / so long as , provided / providing (that).
I will phone you when I find out the exact price of a new printer.
We won’t sell our goods until the price amounts to $10 per unit.
I will be able to take part in the bidding if my friend
lends me $5 till tomorrow.
Note! We can also use the present perfect after when, if, etc. to show that
the first action will be finished before the second.
I’ll lend you a five-dollar note when I’ve got it.

Exercise 1
Complete the sentences using the correct form of the tense in
brackets.
1. Our train _____ (leave) Moscow at 3.00 on Saturday and _____
(arrive) in Minsk at 9.00 on Sunday.
2. The most important bidding _____ (start) at 11.00 and _____
(finish) at 16.00 on Friday.
3. We’ve got plenty of time. Our plane _____ (not/take off) until 7
a.m.
4. I _____ (lend) you the money provided you _____ (pay) me back
tomorrow.
‒ 220 ‒
 5. We’d like to have some clarifications. The consumer _____ (be
entitled) to any compensation if goods _____ (break down)
through no fault of his.
6. We _____ (outbid) the last recorded price until we _____ (be
sure) that the item is worth buying.
7. We _____ (claim) compensation if they _____ (fail) to deliver
desks on time?
8. The programme reads that the pension fund meeting _____ (be
held) next week.
9. What time the delegation _____ (arrive)?
10. There is a penalty clause: we _____ (stand) to lose ten per cent
of our price each week of overdue delivery.
11. According to the contract we _____ (keep) the production line
clear till the end of the month.
12. His father _____ (not give) him any more money until he learns
not to waste it.

Exercise 2
Choose the correct form of the verbs in the anecdote.
Socialism:
If you have/will have two cows, you give/will give one to your
neighbor.
Communism:
If you have/will have two cows, you give/will give them to the
government and the government gives / will give you some milk.
Fascism:
If you have/will have two cows, you keep/will keep the cows and
give/will give the milk to the government; then the government
sells/will sell you some milk.
Capitalism:
If you have/will have two cows, you sell/will sell one and buy/will
buy a bull.
‒ 221 ‒
Exercise 3
Correct the expressions marked in bold type.
The proprietor of a highly successful optical shop was instructing
his son as to how to charge a customer.
“Son, he said, after you have fit the glasses, and he asks what the
charge will, you say, “The charge is $10.” Then pause and wait to
see if he will flinch.
If the customer will not flinch, you then say, “For the frames.
The lenses will to be another $10”. Then you pause again, this time
only slightly, and watch for the flinch. If the customer won’t flinch
this time, you say firmly, “Each”.

Exercise 4
Do it in English:
1. Джону Мартину, руководителю коммерческого отдела,
завтра в 16 час. 30 мин. предстоит довольно неприятная
встреча с недовольным клиентом.
Мистер Браун сердит и собирается жаловаться на испорчен-
ный товар. Он заявил в телефонном разговоре: “Я совер-
шенно не удовлетворен надежностью вашей мебели. Стол
сломался не по нашей вине, а из-за низкого качества изделия.
Если вы не пришлете вашего специалиста отремонтировать
его, мы будем вынуждены аннулировать наш следующий
заказ. Кроме того, я считаю, что мы имеем право на
некоторую компенсацию”.
2. К декабрю я накоплю достаточно денег, чтобы съездить на
Рождество в Эдинбург. Турпоездка начинается 22 декабря.
Если я найду еще одну работу с частичной занятостью, то
съезжу еще и в Инвернесс. Там я навещу места, связанные с
Лохнесским чудовищем.
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 PRACTICE WITH THE FUTURE CONTINUOUS:
WILL BE + ... -ing
1. In what cases do we use future continuous?
a. We use will be + ... -ing to talk about something which will be in
progress at a time in the future.
I’ll be having dinner at 7.00.
Don’t phone me at 8.00. I’ll be having talks concerning
a loan with the bank manager.
c. We often use will be + ... -ing as a polite way of asking about
someone’s plans, especially when we want someone to do
something for us.
Will you be using your calculator at the lesson? I wondered if
I could borrow it.

PRACTICE WITH THE FUTURE PERFECT:

WILL HAVE + PAST PARTICIPLE
1. In what cases do we usually use the future perfect?
We can use will have + Past Participle to talk about something that
will be completed by (not later than) a certain time in the future.
I’ll have studied the demand schedule by 3 p.m.
Improvements in the methods of processing food
won’t have been made by the arrival of inspectors.
Will the buyers have taken a decision what prices they are willing
to pay at the auction by 11 a.m.?
Mr. Grant will have owned Harper & Grant Ltd for 10 years next
January.
“– I’ll visit the shop to make my complaint at 18.00. – No, I’m
afraid, the shop will not have worked by then. Can you come
earlier?”
‒ 223 ‒
Exercise 1
Complete the sentences using the will have + Past Participle form
of the verbs in brackets.
1. I need my car first thing tomorrow morning. Do you think
_______ (you / repair) it by then?
2. Let’s hurry. The auction _______ (start) by the time we get
there.
3. – We promise to pay the account within 5 days. – No, that’s too
late. We _______ (place) the matter in the hands of our
solicitors by the end of the week.
4. – Let’s meet outside the shop at 6 p.m. – All right. I think I
_______ (persuade) Alex to make a complaint by that time,
because, I am sure, the law is on our side.
5. The Managing Director is inclined to begin negotiations at 10
a.m. _______ you (clarify) all the details of the contract by the
moment?
6. – One of our customers came to make a complaint about the
faulty mixer. He is aggressive! – The manager will be with you
in half an hour. – This man _______ (break) all the shop
windows by then!
7. Guy is in casino. He has very little money and he is spending too
much too quickly. Before the end of this hour, he _______
(spend) all his money.
8. You should stop using the faulty washing machine! By the time
you call the repairman it _______ (break) completely.
9. I paid cash for a faulty lamp, but I didn’t keep the receipt. I’m
afraid it’s too late. Tomorrow it _______ (be) 8 days with me.
10. I _______ (return) my companion’s money by June 25th.

Exercise 2
Peter Wiles is the Production Manager. He is going to have a
very hectic day tomorrow. Look at Peter’s plan. What will Peter
have done by a certain time tomorrow?
‒ 224 ‒
M o d e l:
By 9.30 tomorrow Peter will have dictated a report to the secretary.

09.00–09.30 Dictate a report on the trip to A. to the secretary.

10.00–12.00 Report to the Managing Director.
13.00–14.00 Have lunch with the Sales Manager.
14.30–15.30 Meet Alan Smith, the Globe Forwarding Company.
16.00–17.00 Look through the contract of Computer Company.
Attention: Penalty clause!
17.30–18.00 Phone the Works Manager.

PRACTICE WITH THE FUTURE IN THE PAST:

WAS / WERE GOING TO
1. What occasions do we mean using the future in the past?
Note that when we use this structure, it often means that the planned
future action did not happen.
They were going to accept a repair or a replacement but in the
end they changed their minds.
Exercise 1
Complete the sentences with the correct form using the future in
the past of the verb in brackets.
1. She _______ (drive) to Boston last week, but her car broke down,
so she had to go by train.
2. Henryk _______ (change) his job last year, but the General
Director offered him the new post and higher salary, so he made
his mind to stay with the firm.
3. The auctioneer _______ (bring out) a used electric popcorn
maker, but there was no demand for it, so he had to change the
lot.
‒ 225 ‒
4. Our new calculator broke down after only 3 working days. So we
_______ (negotiate) its quality level with the supplier of this type
of goods.
5. The buyers _______ (study) the information provided by the
manufacturing firm thoroughly before purchasing goods.
6. I understood that the firm were _______ (make a refund). Why
didn’t they?
7. I _______ (ask) how the calculator was operated, but somebody
interrupted me.
8. Paul thought the shop _______ (put right the faulty parts). Why
did the shop refuse him?
9. The customer _______ (return) the damaged item, but he didn’t
keep the receipt and couldn’t prove that he had bought it in that
shop.

PRACTICE WITH ADVERBS OF

MANNER, PLACE AND DEFINITE TIME

Ask yourself these questions when checking adverbs of manner,

place or definite time.
1. How are adverbs of manner formed?
a. Most of adverbs of manner are formed by adding -ly to the
adjective.
Bad – badly usual – usually high – highly But! Good – well
b. We use fast, hard, late as both adjectives and adverbs.
He is a hard worker / He works hard.
But! “Hardly” means “almost no”. – I’ve hardly got any money
left.
c. Not all words ending in -ly are adverbs. Some adjectives also end
in -ly and have no adverb forms: (un)likely; (un)friendly;
costly; deadly; lovely; silly; ugly.
Selling your house can be a costly and time consuming business.
We use the following adjectives instead of adverbs in different
structures:
‒ 226 ‒
 The manager received a new employee in a friendly way
(not: friendlily).
Daily, weekly, monthly, yearly, quarterly – are both adjectives
and adverbs.
Yearly dividends were paid out to (the) stockholders.

2. Where to place an adverb? What is the word order like?

a. Adverbs of manner, place and time normally go after the direct
object.
__direct object__ + __adverb__
The manager considered the project very carefully.
___direct object____ + __adverb__
He bought a faulty calculator yesterday.
b. The adverb goes after the verb if there is no direct object.
____verb____ + __adverb__
The faulty parts were studied carefully.
d. If there is more than one adverb, the usual order is:
manner + place + time.
The foodstuffs were sold profitably at Brendan’s shop last
month.
Manner place time
e. An adverb does not normally go between a verb and its direct
object.
If you are at the auction you must decide everything quickly.
The firm employed the workers the other day.
e. Some adverbs of manner, place and time also go at the
beginning of a clause if we want to emphasize it.
Tomorrow we have to take part in the bidding.
3. Should we place an adverb before or after the verb?
a. An adverb normally goes before a full verb but after the verb “to
be”, an auxiliary verb (have, will, can), or the first auxiliary when
there is more than one auxiliary.
In a market economy buyers and sellers usually answer
the basic economic questions.
‒ 227 ‒
 Consumers are usually sensible to some price changes than
to others. He has never taken part in the bidding before.
b. In negative sentences adverbs of probability (probably, certainly)
normally go before the negative won’t; not, etc.
We probably won’t fulfil the customers’ demand.
4. What is the place of the adverbs of time: still, yet, already?
a. Still goes before a full verb or after “to be“ or an auxiliary verb.
These factors still influence the process of production of goods.
Economists are still using a tool called a demand schedule to
study demand.
b. Yet is used only in questions and negatives and normally goes at
the end of a clause.
Have you studied our catalogue and price list yet?
These goods aren’t sold to the highest bidder yet.
c. We normally use “already” before a full verb or after “to be” or
an auxiliary.
He has already made up his mind about asking for a refund.
He already changed jobs many times.
We can also use ”already” at the end of a clause for emphasis.
I’ve paid his bills already.
Exercise 1
Choose the correct answers.
1. They have close/closely studied the terms of Black & Co. for the
machines they were going to buy.
2. As the items are sold one at a time buyers must fast/fastly decide
what prices they are willing to pay.
3. I’m sorry to say but we are not complete/completely satisfied
with the quality of your goods.
4. The boxes containing spare parts are not safe/safely packed. It
should be done more proper/properly.
‒ 228 ‒
 5. If the company want to attract new customers they must
wide/widely advertise their goods.
6. If your shoes came apart without misuse after only one day’s
wear, it is a very serious/seriously problem and it should be
settled reasonable/reasonably.
7. The company makes profits and pays quarter/quarterly dividends
to their stockholders.
8. You have to think of the price of the house as it is a cost/costly
purchase.
9. The sellers sometimes change the terms of delivery if they are
not very good/well for the customers.
10. We are interested in buying these computers as we require them
urgent/urgently.

Exercise 2
Complete the sentences by putting the parts in brackets in the
proper order.
1. Since the company (increased/has/lately/considerably/the prices)
they are not attractive to customers.
2. He didn’t have enough time to read (yesterday/attentively/the
contract).
3. The engineers (carefully/studied/later on in the day/the terms of
the contract).
4. (Use/economists/nowadays/a demand schedule/widely) to
study consumers’ demand.
5. People (invariably/the same amount of products/buy/now).
6. If you spend (at once/at the auction/all your money) you will
have to drop out very quickly.
7. John is eager to buy (one of these days/this picture/at the
auction) outbidding all the other participants.
8. Since Bond & Co. always provide shipping facilities to their
customers they (sell /on CIF terms/usually/their goods).
9. To make these desks (the firm/by the end of the week/urgently/
steel sheets/needed).
‒ 229 ‒
Exercise 3
Put the adverb in brackets into the correct place (with the verb).
1. The customers have been trying to contact us the whole day.
(probably)
2. Suppliers want the price that allows them to make the most of
money. (usually)
3. This section will help you understand how consumers fulfil their
demands. (surely)
4. We live in the changing world of computer technology. (rapidly)
5. The auctions of sellers and buyers set the prices of goods and
services. (always)
6. Have you studied reasons for elasticity of demand? (yet)
7. I recommend you not to accept a repair and to ask for a
replacement of a faulty vacuum cleaner. (strongly)
8. Mike is waiting for a compensation from a shop. (still)
9. You and the supplier must negotiate a reasonable settlement.
(certainly)
10. A car may cost 50% of your annual income. (easily)
Exercise 4
Choose the one underlined word combination which is incorrect.
1. Ann has a lot of responsibility in her job but she isn’t good-paid.
A B C D
2. The people for the experiment were chosen complete at random.
A B C D
3. There is one more topic to discuss the question namely
A B C D
of your salary.

4. He tried hardly to find a job but he had no luck.

A B C D
5. When I came to the firm the company’s staff treated me very
A B C
friendly .
D
‒ 230 ‒
6. Buyers have been always more sensitive to some price changes
A B C D
than to others.
7. Up-to-date equipment is introduced continually into production.
A B C D
8. Your decision actually is the result of your tastes and your
A B
available cash income at the moment.
C D
9. Upon receipt the customers had close looked through the terms
A B C
of the contract and agreed to sign it at once.
D
10. She can hardly control her feelings. Even though she is
A B
an elderly woman and her son is 40, she treats him motherly.
C D
11. – He doesn’t hardly ever write to us. But we normally do not
A B
worry if he visits Pam. – Oh! Pam is sometimes not responsible
C
for what she does.
D

PRACTICE WITH ADVERBS OF FREQUENCY

OR REPETITION
1. Where shall we put these adverbs in a sentence?
I always examine the goods I buy at once.
She is always inspecting the goods she buys.
She never deals with complaint.
She has never broken her side of a bargain.
This car has never been repaired.
Sometimes it is possible to bargain over prices.
Often the value you place on an item will differ from its
monetary value.
‒ 231 ‒
a. Adverb phrases of frequency every morning/evening, once a
week, daily, weekly, monthly, yearly normally go at the end (or
the beginning) of a clause.
I do physical exercises every morning.
I play tennis once a week.
b. We use sometimes and frequently before not or before isn’t,
doesn’t, etc.
Joe is sometimes not responsible for what he says.
He is frequently not at home.
Sue sometimes isn’t reliable.
She frequently doesn’t get home till 11.

PRACTICE WITH ADVERBS OF PROBABILITY

1. At what place do we put the adverbs of probability in the
sentence?
a. They normally go before a full verb, but after be or an auxiliary verb.
The delivery has obviously been delayed.
He is certainly the man who will put the things right.
b. In negative sentences they normally go before the negative won’t,
isn’t, not, etc.
She probably won’t prove that the dress was bought at that shop
as she hasn’t kept the receipt.
You certainly can’t expect all of the purchase price back if your
washing machine worked for half a year perfectly and then broke.
c. Perhaps and maybe normally go at the beginning of a clause.
Perhaps there was no time limit in the contract.
Maybe we’ll do without the penalty clause.
Mind that maybe is quite informal.

PRACTICE WITH ADVERBS OF DEGREE

a. What is the place of these adverbs in a sentence?
Adverbs of degree fairly, quite, rather, pretty, too, enough, so
modify adjectives or other adverbs.
‒ 232 ‒
 The agreement we managed to negotiate was quite reasonable.
(adverb + adjective)
He accepted the idea to reschedule the production line fairly well.
(adverb + adverb)
It is too late / late enough to take part in the bidding.
I think I’ll drop out of the bargaining, I am too tired.
The demand for hot dog buns is so high, because they are used
with hot dogs.
The demand curve shows that the desire to buy the item changes so
slowly.
This is such nice pork! But its price has doubled and I am bound to
buy substitutes. I can’t afford such a waste of money.
Note: We can use so (but not such) with many and much.
There were so many overdue deliveries, that we had to claim
compensation.
I’ve got so much to do to honour the contract.
We can use such (but not so) before a lot (of).
It’s a pity that there were such a lot of bidders at the auction.

Exercise 1
Put the adverbs of frequency and repetition in the correct place
in the sentences. Sometimes more than one answer is possible.
1. Students work after school or during summer to sometimes earn
money for buying some of the things they want.
2. He always has been interested in using a demand curve to study
demand.
3. He is late for hardly ever appointments.
4. Many often people include savings as a fixed expense because
they save regularly a part of their income.
5. High school students must make choices usually about what to
do after graduation.
‒ 233 ‒
6. Evaluating sometimes the quality of a product can be difficult for
the customer.
7. The consumer’s decision always is a matter of personal taste.
8. This item is in great demand rarely, so we make it in a small
quantity.
9. Time deposits also sometimes are considered a form of money.

Exercise 2
Put the adverbs of probability in the correct place in the
sentence.
Peter Wiles is going to have a hectic day (probably). He thinks
he will have a quiet morning dictating into a dictating machine a
long report (maybe). His secretary, Jane, can type it back later
(perhaps).
John Martin comes into Peter’s office because he isn’t satisfied
with the delay in delivery of some special plastic coated sheets
(obviously).
These sheets are wanted for a special order. To get this order,
Harper & Grant had to promise to deliver these desks before a
certain date (definitely). If they fail to deliver on time, they will lose
money, because there is a penalty clause in the contract (certainly).
But Harper & Grant did not have a penalty clause in their
contract with the suppliers (occasionally). So they will lose money
unless something can be done about it pretty quickly (probably).

Exercise 3
In the following sentences, choose the correct form in brackets.
1. There were not (enough people/people enough) to consider the
complaints and to determine goods as satisfactory.
2. Allen has checked the thing (enough carefully/carefully
enough) to operate it in the appropriate way.
3. Do you have (enough time/time enough) to go to the shop with
me and help me with the complaint?
4. The demand for substitutes rises (enough fast/fast enough)
because the price of the genuine product has doubled.
5. Improvements in the methods of processing food allowed
suppliers to increase supply (enough soon/soon enough).
‒ 234 ‒
 6. We arrived (enough early/early enough) to get on to the
manager and to put him in a mess.
7. You should type (enough slowly/slowly enough) so that you
will not make an error.
8. There are (enough orders/orders enough) for the goods which
are wanted for stock and have no time limit.
9. We have (enough funds/funds enough) to share the extra cost
of a field survey.
10. This man doesn’t have (enough experience/experience enough)
to honour the delivery in this urgent situation.

Exercise 4
CONTEXT
Read the conversation between a customer (C.) and a manager
(M.) In most of the lines one word or word combination is not in
its proper place. Some lines, however, are correct.
 If a line is correct, put a tick () in the space in the right-hand
column.
 If there is a mistake in the line, correct it.

C.: Good morning, miss. I’d like to speak to the manager. 1

M.: I am the manager, sir. How can I help you? 2
C.: Oh, really? It’s this radio. It doesn’t work. 3
I yesterday bought it here costly. Look, you switch it on 4
and nothing happens.
M.: Could I see your receipt? 6
C.: Receipt? I haven’t got one. 7
M.: Oh, you immediately should have obtained a receipt at the 8
department when you bought it. 9
C.: I did probably. I must have thrown it away. 10
M.: Ah, well, have you got any other proof of purchase? The 11
customer is given usually a guarantee simultaneously when 12
he pays for the purchase at the shop. 13
‒ 235 ‒
C.: No. It must have been in the box. I didn’t probably keep it 14
and
threw that away too. 15
M.: Oh, dear. You ought to have kept it. We need to know the 16
date
of exactly the purchase. 17
C.: What? I bought it yesterday. That young man served 18
willingly
me. Oh, I paid by check. I have got still the check stub. 19
M.: That’s all right then. 20
Did you check the radio before you left the shop 21
thoroughly?
C.: Check it? No, it was in the box. I expected it to work. It 22
wasn’t
a cheap radio, it evidently is a good make. 23
M.: You should have checked it. 24
C.: Come on! Stop telling me what I should have done, and do 25
something! Either give immediately me my money back or 26
give
me another radio! 27
M.: There is no need to get aggressive, sir. Let me look at it. 28
You see on the back this switch? 29
C.: Yes? 30
M.: It’s on “mains”, and should be on “battery”. 31
You should have read first the instructions. 32

Glossary
account n 1. a written or spoken report; description
2. a sum of money kept in a bank, building society,
etc. which can be added to or taken from
3. a record or statement of money received or paid
out, e.g. by a bank or business
‒ 236 ‒
account v 1. consider
2. to give or be a satisfactory explanation for
3. to provide a satisfactory record, esp. of money
received or paid out
accountant n a person whose job is to consider and examine the
syn book-keeper money accounts of businesses or people
amount n a collection or mass considered as a unit in terms of
its size, number, etc.
amount v to be equal to, e.g. in quantity or in meaning
apply v 1. to request something, esp. officially and in writing
2. to bring or put into use or operation
application n 1. (the act of making) a request, esp. officially and in
writing
2. the act of putting something to use
3. a particular practical use
applicant n a person who makes a request, esp. officially and in
writing, for a job, for entrance to school or university
etc.
compensation n 1. something (esp. money) given as a way of
compensating
2. money paid (by an insurer) to someone who has
suffered injury or had property lost or damaged
debt n 1. something owed to someone else
2. the state of owing; the duty of repaying something
determine v 1. to (cause to) form a firm intention or decision
2. to fix or find out exactly, e.g. by making
calculations , collecting information, etc.
employ v 1. give work to (someone) and pay them for it
2. keep occupied
3. make use of
employer n a person or group that employs others
employee n a person who is employed
unemployment n 1. the number of people without work in a group or
society, in relation to the number of people
wanting work
2. the state of being unemployed
‒ 237 ‒
estimate v to judge or calculate the nature, value, size, amount,
etc. of (something), esp. roughly; form an opinion
about
estimate n a calculation or judgment of the nature, value, size,
amount, etc. of something
interest n 1. a charge made for the borrowing of money
2. a share in a company, business, etc.
interview v to ask questions of (someone) in an interview
interviewer n a person who asks questions of (someone) in an
interviewee n interview
a person who is being or is to be interviewed, esp. for
a job
fringe n addition
pl fringes items that are given to an employee as part of his or
her payment but apart from wages or salary (such as a
company car, health insurance, or goods at a
discount)
own v to possess (something), esp. by lawful right
owner n a person, who possesses (something), esp. by lawful
right
ownership n 1. basic right to possess something
2. property
payment n 1. the act of paying
2. an amount of money that has been or must be paid
payroll n 1. a list of workers employed by a company and the
amount of wages each person is to be paid
2. the total amount of wages paid to all the workers in
a particular company
recruit v to find in order to employ; to get the services of
recruitment n employment
repay v 1. to return (what is owed) to (someone); pay back
2. to reward
possess v to have as one’s property, as a quality, etc; own
possession n he state of having, owning, or controlling something
possessions n (pl) an item of property; something belonging to one
property n  something which is owned; possessions
 land, buildings, or both together
 ownership, with its rights and duties according to
the law
‒ 238 ‒
proprietor n an owner of a business, invention etc.
reward n (something gained or received as) a return for
doing something good or valuable
source n a place from which something comes; means of
supply
wealth n a large amount of money and possessions

Topics for the Power Point presentations

1. Five Вasic Types of Income.
2. Transfer payments.
3. Unemployment.
4. Four categories of workers.
5. Personal Wealth.
6. Personal Income and Spending.
7. Multiplier effect of spending.
8. Employment in Russia and the UK.
9. Household Income Levels in the UK versus the RF.
10. Advice to interviewees at the job interview.
11. Rules of Job Hunting.
12. Documents needed in applying for a job.
13. Employment and recruitment.
14. Running a business: Emergency situations.
Penalty clauses.

‒ 239 ‒
 Annex
WORDING MATHEMATICAL
FORMULAE
1 Language Input
common adj общий
to be a common factor быть общим множителем
consecutive adj последовательный
cube n,v куб (числа), возводить в куб
divide, v делить
division n деление
divisibility n делимость
divisor n делитель
greatest common divisor наибольший общий делитель
equation, n уравнение
differential дифференциальное
linear линейное
polynomial n-й степени
quadratic квадратное
simultaneous equations система уравнений
factor, n множитель
highest common factor наибольший общий множитель
factorize, v разложить на множители
fraction n дробь
common обыкновенная
decimal десятичная
repeating периодическая
non-repeating непериодическая
multiply v умножать
multiplication, n умножение
multiplier n множитель
multiple n кратное
least common multiple наименьшее общее кратное
notation, n обозначение
‒ 240 ‒
number n число
whole целое
counting порядковое
natural натуральное
rational действительное
irrational иррациональное
directed упорядоченные числа
complex комплексное
imaginary мнимое
transfinite трансцендентное
positive положительное
negative отрицательное
odd четное
even нечетное
number theory теория чисел
pattern, n правило последовательности
follow a pattern соответствовать правилу
prove v доказывать
reduce to smth v сводиться к чему-либо
remainder n остаток
leave a remainder иметь в остатке
repeating digits период дроби
sequence n последовательность
number sequence числовая последовательность
series n ряд
series of numbers числовой ряд
set n множество
solve, v решать
solve equations решать уравнения
solve inequalities решать неравенства
solution of решение
square number квадрат числа
to square возводить в квадрат
terminate v не иметь периода (о дроби)
root n корень
square root квадратный корень
value n значение
value of x значение x
‒ 241 ‒
 DEVELOPING VOCABULARY

2 Consult a Dictionary,
write out the transcription and practise the pronunciation of
the following words
algebra
algebraic
arithmetic
consecutive
directed
directly proportional
divisor
equal
formulae
genuinely
geometry
hypotenuse
integer
inequality
inversely proportional
logarithm
parenthesis
plus
proportionality
pythagoras
sequence
simultaneous equations
subtraction
quadratic
quotient
transfinite
triangle
trigonometry
variable
vary
‒ 242 ‒
3 Match the English
word or word combinations in the left-hand column with the
Russian equivalents in the right-hand column:

1. To close parenthesis A Разделить в отношении

2. To solve for x B Закрыть скобки
3. To form a right-angled C Числовое значение
triangle
4. To find common factors D Найти общий член
(последовательности)
5. To simplify a fraction E Упрощать дробь
6. Numerical value F Произведение
7. Denominator G Сумма
8. To form a general term H Начертить прямоугольный
треугольник
9. To word formulae I Зависимая переменная
10. Factorize J Найти общие множители
11. Expand brackets K Раскрывать скобки
12. Sum L Решить относительно х
13. Difference M Разность
14. Product N Знаменатель
15. Quotient O Частное
16. To share in the ratio P Читать формулы
17. An arithmetic series Q Числовая последовательность
18. Input R Независимая переменная
19. Output S Арифметическая прогрессия
20. Number sequence T Раскладывать на множители
‒ 243 ‒
4 Background Information
The word mathematics has Greek origin and is usually shortened
to maths in British English and to math in the USA.
The first maths idea to have developed was certainly that of
number because people needed to count their belongings. As society
developed, numbers became more and more important for business
dealings and taxation.
The theory of numbers, one of the oldest branches of maths, has
engaged the attention of many gifted mathematicians during the past
2300 years. The Greek, Indians and Chinese had made significant
contributions prior to 1000 A.D. and in more modern times the
subject has been developed steadily by Ferma. The properties of the
series of natural numbers, one of the most essential concepts of
maths, are the object of the theory of numbers.
The origins of study of number properties go back probably
almost as far as counting and the arithmetic operations. It does not
take long before it is discovered that some numbers behave
differently from the others: for instance, some numbers can be
divided into smaller equal parts and others not. The operations with
fractions lead immediately to the study of divisibility of numbers,
the least common multiple, and the greatest common divisor
(higher common factor). One finds that there exists many simple
rules regarding numbers that are quite easy to discover and not to
difficult to prove. In number theory we are concerned with
properties of certain on the integers …, ‒3, ‒2, ‒1, 0, 1, 2, 3, …, or
sometimes with those properties of the real and complex numbers
which depend rather directly on the integers.
The natural numbers are the counting numbers, i.e. 1, 2, 3, etc.
Integers are whole positive or negative numbers, i.e. ‒5, 3, 25.
Numbers that can be only divided by themselves and one, e/g/ 2, 3,
5, 7, 11 are prime numbers. Note that 1 is not considered to be prime
and 2 is the only even prime number.
A number is a factor of another number if it divides exactly into
that number without leaving a remainder, e.g. the factors of 6 are
1, 2, 3, 6. The highest common factor is the highest factor which is
common to a group of numbers. The lowest common multiple is the
‒ 244 ‒
lowest multiple which is common to a group of numbers. It is found
by listing all the multiples of a group and finding the lowest number
which is common to each set of multiples.
Rational numbers are numbers which can be shown as fractions:
they either terminate or have repeating digits, e.g. ⅔, 4.333,
5.3434,… etc. Recurring decimals are rational. An irrational
number cannot be shown as a fraction, e.g. √2, √3, √5, π. Since these
numbers never terminate, we cannot possibly show them as fractions.
The square root of any odd number apart from the square numbers
is irrational. Also, any decimal number which neither repeats nor
terminates is irrational.
A number sequence is a set of numbers that follow a certain
pattern, e.g. 1, 3, 5, 7,... . Here the pattern is either consecutive odd
number or add 2. The pattern could be add, subtract, multiply and
divide. Sometimes the pattern uses more than one operation. There
are special number sequences, e.g. square numbers 1, 4, 9, 16, 25,…
where the counting numbers squared, or cubed numbers 1, 8, 27, 64,
… where the counting numbers cubed.
Consider the quadratic equation x2 + 4 = 0. There are no values
of x among the real numbers that solve this equation. However, if
we define a number j = √‒1, then the equation has the two roots: + j
and ‒j. It is clear that the roots of this equation are not real numbers,
they are called complex numbers. j is combined with the real
numbers to form numbers of the form z = a + bj, the complex
number. Notice that when b = 0, the complex numbers reduce to the
familiar real numbers. In fact, the real numbers are simply special set
of complex numbers. When a = 0, the complex numbers reduce to
the form bj. Such numbers are said to be imaginary and are again a
special set of the complex numbers.
The system of mathematical notation we (and all
mathematicians all over the world) use today finally developed in the
16th century. In fact it can be said that mathematics is a genuinely
international language. Whether or not mathematics is a science is
still a matter of opinion in the mathematical community. A new point
of view is the math should be seen not as a description of the
external world of reality, not merely as a tool for studying such a
world, nut rather as a science in its own right. No longer simply a
‒ 245 ‒
servant of the natural sciences, maths has achieved a status
seemingly independent of the natural sciences while still lending aid
to the latter. Having moved from its earlier dependence of natural
phenomena for the inspiration of new concepts, maths now finds
most of its stimulus for new ideas from within itself.
5 Comprehension
Understanding the reading
5.1 Give extensive answers to the questions.
1. What does theory of numbers study?
2. Give an example to prove that some numbers behave differently
from the others.
3. What did you come to know about natural numbers?
4. How to distinguish between rational and irrational numbers?
5. What do we call a number sequence and its pattern?
6. Why were complex numbers invented? What do we call a
complex number?
7. Is it possible to separate maths from sciences or science from
maths? Why or why not?
Scanning
5.2 Scan the text to determine whether these statements are true
(T) or false (F). With a partner, discuss why.
1. Mathematicians are interested in both natural numbers and
integers.
2. Natural numbers are those which are greater than zero, while
integers are zero itself or less than zero.
3. Number theory studies properties of divisibility of complex
numbers.
4. The operations with fractions lead immediately to the creation of
irrational numbers.
5. Pattern in number sequence may combine four main operations:
addition (+), subtraction (‒), division (:) and multiplication (×).
6. Imaginary numbers appear in the form bj and are reduced to the
familiar real numbers.
7. The development of mathematics is dependent on other sciences.
‒ 246 ‒
5.3 Do the following tasks. Comment on your calculations. Make
use of the following expressions.
 Factors of … are …;
 Multiples of … are …;
 Make a difference row;
 To see if the difference remains constant;
 To find the corresponding term in the sequence for any value
of n;
 Therefore the … term in the sequence is/will be … ;
 The roots of the equation…;
 Write down the square roots of ….

1. Find the HCF of the numbers 6, 8, and 12.

…………………………………………………………………
2. Find the pattern for the sequence 4, 7, 10, 13, 16, 19. What is the
50th number in the sequence? Form a general nth term formula.
…………………………………………………………………
3. If z1 and z2 are the complex numbers z1 = 2 + 3j and z2 = 3 + j ,
then find: z1 + z2 ; z1 – z;, z1 z2 .
…………………………………………………………………
4. Factorize x2 + 9, x2 + 2x + 5.
…………………………………………………………………
5. Work out the squares of: 3j, ‒3j, 1 + 3j, 2 ‒ 3j.
…………………………………………………………………………

6 Speaking & Writing

Today’s maths notation uses Arabic numerals (1, 2, 3…) with a
set of symbols for example plus (+), minus (‒), equals (=) along with
letters, many of which are taken form the Greek alphabet.
6.1 a. Practice pronunciation of Greek letters and wording
mathematical formulae.
Greek alphabet
A alpha [´ælfə] альфа
B beta [´beιtə, ´bi:tə] бета
Г gamma [´gæmə] гамма
Δ delta [´deltə] дельта
‒ 247 ‒
E epsilon [´epsιlɔn] эпсилон
Z (d)zeta [´zeιtə, ´zi:tə] дзета
H eta [´eιtə, ´i:tə] эта
Θ theta [´eιtə, ´i:tə] тета
I iota [aíoutə] йота
K kappa [´kæpə] каппа
Λ lambda [´læmdə] лямбда
M mu [´mju:] ми (мю)
N nu [´nju:] ни (ню)
Ξ xi [´ksi:] кси
O omikron [ou´maιkrən] омикрон
П pi [pi:] пи
P rho [´rou] po
Σ sigma [´sigmə] сигма
Т tau [´tau] тау
Y upsilon [´ju :psílɔn] ипсилон
Ф phi [´fi:] фи
X chi [´hi:] хи
Ψ psi [´psi :] пси
Ω omega [ou´megə, ou´mi :gə] омега

Math Symbols and Signs

+ plus
‒ minus
± plus or minus
× multiplication sign
· point (1.5 – one point five)
: division sign; ratio sign
= sign of equality (equals, (is) equal to)
 (is) not equal to
‒ 248 ‒
  difference
 approximately equal; approaches
> greater than
< less than
 equal or greater than
 equal or less than
 infinity
the square root (out) of
3 the cube root (out) of
n the n-th root (out) of
[] brackets, square brackets (pl)
() parentheses, round brackets (pl)
{} braces (pl)
f (x ) gradient of the function f (x)
a modulus of a

Wording Mathematical Formulae

ab cd
 :
a b cd
a plus b over a minus b is equal to c plus d over c minus d.
a3 = logcd:
a cubed is equal to the logarithm of d to the base c.
 z 
m ( m  1)

φ( z ) = b  2 +   1 :
 cm  

a) φ of z is equal to b, square brackets, parenthesis, z divided by c

sub m plus 2, close parenthesis, to the power m over m minus 1,
minus 1, close square brackets;
b) φ of z is equal to b multiplied by the whole quantity: the
quantity two plus z over c sub m, to the power m over m minus 1,
minus 1.
‒ 249 ‒
b. Write several formulae or math expressions of your own and
word them in an appropriate way. For example, 5x ‒ 3y
reads: five times a number x minus three times a number y .
6.2 Prepare in writing and than deliver a small talk in one of the
following subjects:
 how to solve linear and quadratic equation;
 how to find the sum Sn of all n terms for an arithmetic series of
n terms, whose first term is a and last term l;
 how to find the sum Sn of all n terms for an arithmetic series of n
terms, whose first term is a and whose common difference is d;
 define Σ (sigma) notation and explain how to express the
series 3 + 5 + 7 + 9 + … + 99 using Σ notation. (Σ to
mathematicians means “the sum of” and reads like this: “S is
the sum of the series obtained by successively substituting the
values of i = … to i = … in the general term …);
 how to express one quantity as a percentage of another.
Provide an example.
Example: Solving linear inequalities.
Let’s see how to solve inequalities. You should keep in mind that
when solving inequality we treat it as a normal equation, only
considering the symbol at the last stage of working.
For example to solve inequality x + 3 < 7 we move + 3 to other
side to become ‒3, simplify to obtain the solution and other possible
solutions for x that still satisfy the inequality.
x + 3 < 7; x < 7 ‒ 3; x < 4.
So, x could be 3, 2, 1,… .
Besides, inequalities can be represented graphically and this
representation can be used in their solution. The convention is to use
broken lines for strict inequalities and to shadow unwanted regions.
6.3 a. Fill in the gaps with the suitable expressions from the box:
a) direct b) the ratio c) by a factor
d) reduced e) decreases f) to be shared
g) calculations h) equal i) the constant
Ratio is used when we want to compare two or more quantities.
For example, if $400 is …(1)… between three people, Jim, Fred and
John, in … (2)… 4 : 3 : 1, respectively, the total amount of money is
‒ 250 ‒
split into 8 … (3)… parts (4 + 3 + 1), of which Jim will get 4 parts
($200), Fred 3 parts ($150) and John 1 part ($50). We can check all
of the money has been accounted for by adding each of the amounts.
There are two main types of ratio … (4)… : direct proportion and
inverse proportion. With …(5)… proportion, as the share increases,
then the amount also increases. The example above showed how
Jim’s amount of money was four times the value of John’s amount
because Jim’s share was four times the value of John’s share. With
inverse proportion as the share increases, the actual amount …(6)… .
For example, if 8 people can dig a hole in 4 hours, how long would it
take 2 people to dig the same hole? We now have the number of
people … (7)… by a factor of 4 so therefore the time will increase …
(8)… of 4 to become 16 hours. In algebraic terms we can say y = kx:
y is directly proportional to x; k is …(9)… of proportionality or
y= k/x, i.e. y is inversely proportional to x.
b. Do the following tasks in writing providing comments to your
calculations.
 A car dealer buys an old car for $1000 and sells it for $1200.
Calculate the profit he makes as a percentage increase.
 A car manufacturer produced 24000 cars in the month of
April, which was a decrease of 4% from the previous month.
Calculate the number of cars produces in March.
 A man’s salary is $14000 per annum and his total tax-free
allowances are $4500. Work out his taxable income. If taxable
income is levied at 25%, calculate the amount of tax payable.
c. When money is invested with the bank, interest is paid to the
investor for lending the money. The amount of interest paid
depends on:
 the principal amount invested;
 the percentage rate of interest;
 the time period.
The simple interest formula is: I = PTR/100,
where I = interest, P = principal, T = time, R = rate (%);
 find the interest payable on $5500 invested for 2 years at 6%
per annum;
 find the rate in per cent per annum of simple interest if $1200
is the interest on $3000 invested for 4 years.
‒ 251 ‒
6.4 Read the text about graphs of y against x and fill the missing
words.
Graphs with two dimensions have two axes which allow you to
compare two variables: the line …(2)… the graph shows you the
relationship …(3)… the variables. Linear graphs are …(4)… the
form y = ax + b and are straight line graphs. Quadratic graphs of the
form y = x2 … (5)… curved or parabolic graphs. …(6)… graph
which involves xn where n is greater than 1 is a curved graph.
Reciprocal graph of the form y = a\x …(7)… x ≠ 0 are also curved
graphs. The final shape …(8)… the graph depends …(9)… the
values applied to x.
6.5 Translate the following words and expressions from Russian
into English.
Мнимое число, квадратное уравнение, арифметическая про-
грессия, знак суммы, отношение, график функции, парабола,
двумерное пространство, график обратной функции, форма гра-
фика, открыть фигурные скобки, написать формулу общего члена
последовательности, начертить прямую линию, подставить значе-
ние, решить систему уравнений, найти корни уравнения, сравнить
переменные, обратно пропорциональная зависимость.
6.6 a. Read and translate the following text.
The gradient is the slope of the graph. It tells how much the
graph rises or falls for each x unit change. The gradient can be
positive or negative depending on which direction the graph is
sloping and it can be steep or shallow depending on the function. In
order to find the gradient of any straight line graph, we choose any
point along its length, form a right-angled triangle, and simply read
off the corresponding changes in x and y. Then we use the formula
for the gradient, gradient = (change in y)/change in x).
b. Draw sketches (no need to scale) for the following types
of gradients. Support your answer.
 a positive steep gradient;
 a positive shallow gradient;
 a negative steep gradient;
 a negative shallow gradient.

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 ЗАКЛЮЧЕНИЕ

Дорогие друзья!
Окончив изучение первой части “Treshold” серии учебников
“Английский язык: экономика и финансы”, вы получили воз-
можность обсудить на английском языке следующие сферы,
ситуации и темы общения будущих экономистов:
 основы экономической деятельности (производство, рас-
пределение, обмен, потребление);
 рынок и цены;
 рынок труда и заработная плата.
Вы ознакомились с непростыми явлениями, относящимися к
морфологии и синтаксису английского языка. Обширный грам-
матический материал в пособии совмещен с упражнениями,
направленными на проверку и закрепление изученных профес-
сионально ориентированных материалов.
Особое внимание в пособии уделено ролевым играм, при-
званным развивать самостоятельность студентов и их умение
применять на практике полученные знания. Тематика ролевых
игр предполагает постепенный переход от рассмотрения эконо-
мических проблем на уровне потребителя к имитации профес-
сионально ориентированных ситуаций, что поможет выпускни-
кам не испытывать затруднений при иноязычном профессио-
нальном общении.

Желаем успехов!
Авторы.

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Литература
Alexander L.G. Longman English Grammar Practice (Intermediate level). ‒
Longman, 2001.
Alexander L.G. Longman English Grammar. ‒ Longman, 2001.
Ball W.J., Wood F.T. Dictionary of English Grammar. ‒ Prentice Hall Phoenix
ELT, 1997.
Beaumont D., Granger C. The Heinemann English Grammar. ‒ Oxford, Heinemann
International, 1992.
Begg David, Fisher Stanley, Dornbusch Rudiger. Economics.‒ London: McGraw-
Hill Book Company, 2005.
Collin P.H. Dictionary of banking and finance. ‒ Peter Collin Publishing, 2003.
Collin P.H., Joliffe Adrian. Dictionary of accounting. ‒ Peter Collin Publishing,
2003.
Gear Jolene. Cambridge preparation for the TOEFL test. ‒ Cambridge University
Press, 2010.
Grant Susan. Cambridge International AS and A Level Economics Revision
Guide (Cambridge International Examinations), CUP, 2012.
Jones Leo, Alexander Richard. New International Business English. ‒ Cambridge
University Press, 2000.
Mack Angela. The Language of Business. ‒ Avon, BBC, 1990.
Mackenzie Ian. Financial English. ‒ London: LTP business, 2006.
Murphy Raymond. English Grammar in Use. ‒ Cambridge University Press, 2012.
Swan Michael, Walter Catherine. How English Works. ‒ Oxford University Press,
2001.
Swan Michael. Practical English Usage. ‒ Oxford University Press, 2005.
Thompson A.J., Martinet A.V. A Practical English Grammar. ‒ Oxford University
Press, 1999.
Англо-русский словарь по бухгалтерскому учету, аудиту и финансам / cост.
Д.Ю. Терехов. ‒ М.: Аскери, 1994.
Качалова К.Н., Израилевич Е.Е. Практическая грамматика английского язы-
ка. ‒ М.: ЮНВЕС, 2012.
Памухина Л.Г., Дворникова Т.В., Жолтая Л.Р., Любимцева С.Н. Русско-
английский разговорник по внешнеэкономическим связям. ‒ М.: Рус-
ский язык, 1984.
Памухина Л.Г., Любимцева С.Н., Архангельская Т.Р., Жолтая Л.Р., Князе-
ва М.И., Галкина Л.И. Английский язык для деловых людей. ‒ М.:
Высшая школа, 1989.
Практический курс английского языка: учебник для педвузов / В.Д. Ара-
кин, И.А. Новикова, Г.В. Аксенова-Пашковская и др. 3-е изд., перераб. и
доп. ‒ М.: Высшая школа, 1991.
Федоров Б.Г. Англо-русский банковский энциклопедический словарь. ‒ СПб.:
Лимбус Пресс, 2004.
‒ 254 ‒
CONTENTS

Введение ............................................................................................... 5

Unit 1 THRESHOLD OF ECONOMICS ...................................... 6

Practice with nouns ..................................................... 38
Practice with articles, demonstratives
and other determiners ................................................ 49
Practice with subjects ................................................. 56

Unit 2 OPPORTUNITY COSTS & TRADEOFFS .................... 67

Practice with verbs (I) ................................................ 95
Practice with quantity ................................................. 107

Unit 3 UTILITY, PRICES & MARKETING STRATEGY ...... 119

Practice with verbs (II) ............................................... 151
Practice with adjectives ............................................. 166

Unit 4 LABOUR MARKETS, EMPLOYMENT & SOURCES

OF INCOME ............................................................................. 179
Practice with verbs (III) ............................................. 214
Practice with adverbs of manner, place and
definite time .................................................................... 226
Annex WORDING MATHEMATICAL FORMULAE .............. 240
Заключение .............................................................................................. 253
Литература .............................................................................................. 254

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Учебное издание

Галина Алексеевна Дубинина, Ирина Федоровна Драчинская,

Наталья Геннадиевна Кондрахина, Оксана Николаевна Петрова

АНГЛИЙСКИЙ ЯЗЫК:
ЭКОНОМИКА И ФИНАНСЫ
Часть 1
Threshold
Учебник
Издание пятое, исправленное и дополненное

Вёрстка Л.В. Шитовой

Оформление обложки Т.А. Антоновой

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