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Навчальнометодичний посібник розглянуто та схвалено на засіданні кафедри іноземних мов 25 травня 2006 р., протокол 9


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НазваниеНавчальнометодичний посібник розглянуто та схвалено на засіданні кафедри іноземних мов 25 травня 2006 р., протокол 9
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*Compare the use of Future Simple, Future Continuous and Future Perfect. Note the time expressions:

He will write this report tomorrow.

He will be writing this report at 10 tomorrow.

He will have written this report by 10 tomorrow.

Exercise 13. Translate into English.

1.О п’ятій він буде працювати над фінансовим звітом. 2. Він завершить фінансовий звіт за два дні. 3. Він завершить фінансовий звіт до завтра. 4. Чи складе вона іспит до червня? 5. Чи буде вона складати іспит у червні? 6. Чи складатиме вона іспит завтра о десятій? 7. Вони не приїдуть завтра. 8. Вони не приїдуть до завтра.
Exercise 14. Use different means of expressing future action.

1. This hotel is fully booked. I think I (to ring) the Hilton Hotel and see if they have any rooms. 2. Who (to give) the presentation at tomorrow’s meeting? 3. I’m sorry. I have to go now. I (to call) you back in ten minutes. 4. We (to send) you our conclusions after we (to complete) the examination of your financial records. 5. They (to perform) internal audit to make sure there are no misappropriations. 6. He (to go) to start a new business in two months. 7. She (to graduate) from the college this time next year. 8. Our accountants (to prepare) Income Statement this time tomorrow. 9. Your results (to be) more reliable if you (to follow) this procedure. 10. We (to plan) to borrow some money from the bank as we (to consider) expanding.
Discussion of the text

1. Speak about auditing and its two types.

2. Speak about the process of auditing and the application of its results.

MODULE CONTROL ASSIGNMENTS FOR SELF-WORK

Assignment 1.Use the verbs in brackets in the proper present tense form

Richard Branson (to become) famous as a ‘hippy’ businessman since he set up a record company in the 1960s. He constantly (to break) many of traditional rules of management. Today he (to run) many successful business projects. How he (to achieve) these results?

Richard regularly (to work) an eleven-hour day. He (to spend) a lot of time talking to people on the telephone and never (to send) memos. He rarely (to hold) meetings; he (to prefer) to make decisions on the phone or on the tennis court. He (to employ) people he (to like) personally. This (to be) more important to him than qualifications. He (to have) several business failures lately. He nearly (to go) bankrupt but he (to survive) and now (to be) one of the most successful businessmen in Great Britain. He (to put) his success to good ideas, good people and good luck.

Assignment 2. Use the verbs in brackets in the proper past tense form.

Yesterday we (have) a meeting where all the staff of our accounting department (be) present. The manager (tell) us that the audit (complete) already. He (read) the final document which he (receive) the other day.

In the scope paragraph the auditors (enlist) the documents that they (examine) and the standards that they (use) in their examination. Of course, the most important for us (be) the opinion paragraph in which they (evaluate) our activity. There the auditors (state) that they (discover) several irregularities in our accounting records. They (point) out that these errors (lead) to serious mistakes in the Income Statement for the last quarter. They (propose) to use a more reliable modern accounting system to avoid such mistakes in the future.
Assignment 3. Use the proper means of expressing the future action.

Next week I (to go) to start working on my research project. On Monday as soon as I (to come) home from the Institute I (to go) to the central library. There I (to ask) the librarian to help me with the literature I (to need) for my project. I think I (to study) the materials for a week or so. I am sure I (to have) to use Internet as a source of valuable information. Then I (to plan) to classify the notes that (to make) by that time. I suppose it (to take) me another couple of days. When everything (to be) ready I (to start) writing my report. I hope the report (to finish) by March, 20th. My scientific adviser (to check) it. After he (to look) through my paper I (to have) time to correct mistakes if any. I (to go) to present my project at the annual students’ conference in April.
Assignment 4. Read and translate the following text.

National Economy of Great Britain

Great Britain is a highly industrialized country: for every person working in agriculture, twelve are employed in industry. British economy is based on private enterprise. Manufacturing accounts for 21 per cent of the gross national product, while service industry output accounts for 65 per cent.

North-west of London there is a very important industrial region where a lot of machine tools are produced. The largest coal and iron fields in Britain are located in Midlands. Manchester is one of the main centres of electrical and heavy engineering. A wide range of gods such as computers, electronic equipment, chemicals and pharmaceuticals are produced here. Newcastle is famous for its shipbuilding yards and its export of coal. Due to rich deposits of oil and natural gas in the North Sea Great Britain has become self-sufficient in energy. Over half of domestic oil production is exported.

Although Great Britain is an industrial country, agriculture still remains one of its important industries. Dairying is most common in the west of England, sheep and cattle are reared in northern and south-western England.

Britain is one of the world’s leading financial centres. Financial services are a fast growing part of service sector which now provides over 65 per cent of output and two thirds of employment. The fastest growth sectors of service industry in recent years have been leisure, financial services and distribution.

International trade plays a vital role in British economy. Britain is the fifth largest trading nation in the world. Over 80 per cent of visible exports are manufactured goods. Major British manufacturing exports include electrical, electronic and instrument engineering products, chemicals, motor vehicles and aerospace products, Britain is among the largest exporters of tractors and products of agricultural research such as breeds. The export of services and other invisible items occupies an important place in the economy. Surplus from invisible exports is considered to be the second largest in the world. About half of Britain’s trade is with European Community partners.
Assignment 5. Answer the following questions in written form.

1. Which is more important to British economy: manufacturing, agriculture or services?

2. What share of output and employment does service sector account for?

3. Which is more important to British trade: visible exports or invisible exports. Substantiate your point.
Assignment 6. Supply the synonyms from the text.

To explain, equipment, field, rest, assortment of goods, domestic, income, commerce.
Assignment 7. Supply the opposites from the text.

Unemployment, public, input, exclude, unknown, minor, import, visible.
Assignment 8. Translate into English.

1.Частка промисловості у валовому національному продукті зменшується, тоді як частка індустрії послуг зростає. 2. Промислові товари складають понад 85 відсотків видимого експорту. 3. Фінансові послуги – найбільш розвинутий сектор індустрії послуг. 4. Індустрія послуг забезпечує 65 відсотків валового національного продукту. 5. Прибуток Великої Британії від невидимих статей експорту вважається другим в світі по величині.
Assignment 9. Get ready to speak about the national economy of Great Britain.

MODULE 4

UNIT 10 INTERNATIONAL BUSINESS

Exercise 1. Read and learn the following words and word combinations.

to conduct (a business) – вести (справи), керувати (бізнесом);

syn. to operate, to run (a business);

to acquire – набувати, отримувати;

world-wide scale – світовий масштаб;

to expandзростати, розширятися, розвиватися;

globalizationглобалізація; global strategyглобальна стратегія;

to comprise – складатися (з), охоплювати;

considerationміркування;

motivationмотивація, спонукання, мотив;

to engage (in) – залучатися (до), долучатися (до);

to diversifyурізноманітнювати, диверсифікувати;

option1)вибір, право вибору; 2) предмет вибору, варіант;

visibles(visible exports/imports)видимі статті (експорту/імпорту);

opp.invisibles – невидимі статті;

investmentінвестиція;

direct investmentпряма інвестиція;

portfolio investment – портфельна інвестиція;

investment patternструктура інвестицій;

joint ventureспільне підприємство;

subsidiaryфілія, дочірня компанія;

barrierперешкода, бар’єр; trade barrierперешкоди торгівлі;

to influence – впливати;

balance of payments – платіжний баланс;

monetary exchange rate – курс обміну грошей;

legislation – законодавство;

to encourage – заохочувати;

technology transfer – передача технологій;

unique – унікальний.
Exercise 2. Read and translate the text.

International Business

Business can take many different forms and can be conducted at different levels. Based on the level of business activity business may be defined as either domestic, international or multinational. If business acquires all its resources and sells all its products within a single country it is considered a domestic business. Although international business is also based in a single country it acquires a meaningful share of its resources and revenues from other countries. A multinational business operates on the world-wide scale regardless of national borders.

More and more domestic businesses decide to enter international markets and become international, while international companies expand and become multinational (transnational). This phenomenon is called globalization – the evolution of economy that comprises interrelated markets. The decision to adopt a global or nationally focused strategy depends upon both markets and technological con­siderations.

There are three primary motivations for firms to engage in international business: 1) to expand sales; 2) to acquire resources; 3) to diversify sources of sales and supplies. When a business decides to expand internationally , i.e. adopts a global strategy, it may choose among several options, including importing or exporting merchandise (visibles), service exports and imports (invisibles), foreign investment in the form of either direct or portfolio investments, setting up joint ventures or subsidiaries.

Although many mechanisms exist for promoting the growth of international business, there are also many barriers to doing business abroad. The major factors causing changes in world trade and investment patterns are economic conditions, technology and political relations.

The economic factor that influences the decision to engage in business beyond national borders includes the level of economic development in various countries, the presence of adequate infrastructure, a country’s balance of payments and monetary exchange rates. The political element is associated with the degree of political risk concerning a particular country, trade barriers erected by govern­ments, legislation encouraging foreign business investments. The technological factor includes various methods of technology transfer.

A considerable amount of international business is conducted by multinational corporations though midsize and even small companies may also engage, especially when they offer a unique product and/or good value.
Exercise 3. Answer the following questions.

1. How do we differentiate between domestic, international and multinational business?

2. What is the usual way of business expansion?

3. What are the primary motivations for firms to become international?

4. Through what mechanisms can business become international?

5. What factors cause changes in world trade and investment pattern?

6.What economic factors influence the decision to become international?

7. What is the essence of political element that causes changes in world trade and investment pattern?

8. In what cases do midsize and small companies engage in international business?
Exercise 4. Translate into English.

Рівень бізнесової діяльності; значна частка; незважаючи на ...; приймати глобально/національно спрямовану стратегію; прямі або портфельні інвестиції; сприяти зростанню міжнародного бізнесу; структура світової торгівлі та інвестицій; відповідна інфраструктура; ступінь політичного ризику.
Exercise 5. Translate into Ukrainian.

Within a single country; to operate on the world-wide scale; to enter international markets; interrelated markets; primary motivation; to choose among several options; beyond national borders; concerning a particular country; midsize company.
Exercise 6. Match and learn the synonyms.

A: option, venture, expand, conduct, acquire, merchandise, subsidiary;

B: grow, get, branch, choice, goods, enterprise, operate.
Exercise 7. Substitute the words in italics for their synonyms.

1. Who helps you to operate your business? 2. We’ve decided to set up a branch in this region. 3. Where do you get financial resources from? 4. This merchandise sells well. 5. While planning to set up a new enterprise conduct a thorough marketing research. 6. We were given three choices to consider. 7. When business grows there is a need to hire more specialists.
Exercise 8. Match and learn the opposites.

A: meaningful, expand, encourage, adequate, unique, domestic;

B: foreign, shrink, common, meaningless, discourage, inadequate.
Exercise 9. Substitute the words in italics for their opposites so that the sentences make sense.

1. The production of these high-quality goods needs inadequate technology. 2. As the demand for our products has increased we are going to shrink our business. 3. She is doing her best to discourage her son in his studies. 4. We must not adopt this idea; it seems meaningful. 5. The company was given a common chance to invest in this project. 6. Multinational companies operate in domestic markets.
Exercise 10. Here is a list of words that are used in many languages, the so-called internationalisms. Read them aloud; group them into two groups: general terms, e.g. form, and economic terms, e.g. export. Mark those that belong to both groups.

Adequate, balance, barrier, business, company, corporation, economy, evolution, export, factor, firm, focus, form, globalization, import, infrastructure, international, investment, mechanism, method, motivation, multinational, option, phenomenon, product, resource, risk, strategy, technology.
Exercise 11. Complete the sentences using the proper words from the list below:

Visible exports and imports, direct foreign investment, trade barriers, operate, political risk

1. Domestic businesses … within a single country. 2. To protect domestic businesses from foreign competition the government can erect … 3. When the company considers entering a particular foreign market it has to evaluate the degree of … concerning this country. 4. … is one of the means of expanding internationally. 5. Goods that leave or enter the country are often referred to as … .
Exercise 12. On the basis of the text define the following terms:

domestic business, international business, multinational business, globalization.
Grammar point: Sequence of Tenses (p.147-148)

Exercise 13. Read and translate the following sentences. Explain the use of tenses in subordinate clauses.

1. I was glad that he was going to visit us. 2. He was surprised that they had ordered those goods. 3. We knew that the manager would go on business to Kyiv in a week. 4. He agreed that the problem had been solved successfully. 5. The director decided that his deputy would be sent to the meeting. 6. She explained that this improvement was rather necessary. 7. Everybody knew that invisible exports include services. 8. I realized that he tried to explain why he had adopted such strategy for the company. 9. It was clear that the meeting had already started. 10. She expected that we were checking the documents at that time. 11. He was sure that all mistakes had been already corrected. 12. She thought that they would offer a unique product. 13. I explained why portfolio investments were less risky. 14. They learned that globalization is a continuous process of economic development.
Exercise 14. Make the actions in both principle and subordinate clauses simultaneous.

1. He knew that the problem (to be discussed) in details. 2. They said that the information (to be) rather important. 3. We knew that the shareholders (to be examining) the Balance Sheet and the Income Statement at the moment. 4. She knew that he (to be going) to be present at their meeting. 5. They believed that he (to supply) that product only to their stores. 6. We hoped that we (to own) a unique technology. 7. Suddenly he remembered that they (to sign) a contract at two o’clock. 8. He considered that his company (to be) very small to engage in international business. 9. We knew that he (to run) his business all by himself. 10. I thought that international business (to be) a very prospective area to specialize in.
Exercise 15. Make the action in the subordinate clause prior to the action in the principal clause.

1. They learned that the transaction (to be performed) already. 2. He thought that the investment (to be made). 3. She knew that they (to prepare) all necessary documents. 4. We hoped that they (to adopt) a new legislation in this field. 5. The manager thought that the equipment (to be installed). 6. She believed that they (to finish) checking the financial statement. 7. He learned that we (not to influence) their decision. 8. We knew that our competitors (to decide) to incorporate. 9. He didn’t know that the goods (not to be supplied) yet. 10. She learned that we (to borrow) money from the bank.
Exercise 16. Refer the action in the subordinate clause to the future.

1. They expected that the merchandize (to be delivered) in time. 2. He hoped that a new subsidiary (to be) profitable. 3. We knew that the auditor (to send) his conclusions in a week. 4. The management thought that the revenues (to increase). 5. She supposed that the company (to adopt) a global strategy. 6. I believed that he (to make) a good investment. 7. She knew that he (to be working) at this project for the next three months. 8. She hoped that all preparations (to be arranged) by next year. 9. They expected that a new joint venture (to be set up) soon. 10. They informed that the audit (to be completed) by the end of the month.
Exercise 17. Use the verb in brackets in the proper tense form.

The owner of a large business company (to buy) a number of signs reading ‘Do it Now’. He (to order) the office-boy to hang them around the office. He (to hope) that the signs (to inspire) his people and they (to work) with more energy. One day a friend of his (to ask) him how his strategy (to affect) the staff. “Well, not just the way I (to think) it (to affect)”, (to answer) the proprietor. “First, the cashier (to skip) with 30 thousand dollars, then the head accountant (to run) away with my secretary, three clerks (to demand) an increase of salary and the office-boy (to become) a bandit”.
Exercise 18. Translate the second part of the following sentences.

1. They announced that вони планують імпортувати ці товари з Італії. 2. The newspapers reported that компанія була приватизована у відповідності з законодавством. 3. Our partners knew that наш бізнес розширюється завдяки зарубіжним інвестиціям. 4. They decided that цей регіон потребує сучасної інфраструктури. 5. Everybody knew that вони вже відкрили філіал в багатьох країнах Європи.
Discussion of the text.

1. Speak about the three levels of business activity.

2. Speak about the motivations and ways of engaging in international business.

3. Characterize the factors that influence the decision of companies to expand internationally.

UNIT 11 INTERNATIONAL TRADE

Exercise 1. Read and learn the following words and word combinations.

barter – бартер;

intricate mechanism of transactions – складний механізм угод;

item – стаття (імпорту, експорту); виріб;

insuranceстрахування;

expenditureвитрати; syn. expenses;

specializeспеціалізуватись; specializationспеціалізація;

commercial activity – торгівельна діяльність;

labour force skillsкваліфікація робочої сили;

special conditionsособливі умови;

advantage – перевага; absolute advantage – абсолютна перевага;

comparative advantage – відносна перевага;

balance of trade – торгівельний баланс;

value – вартість, цінність;

balance of payments – платіжний баланс;

capital transfer – переказ капіталу;

favourable – сприятливий; opp. unfavourable - несприятливий;

deficit – нестача, дефіцит;

surplus – надлишок, профіцит;

reverse case – протилежний випадок;

terms of trade – умови торгівлі; співвідношення імпортних та

експортних цін;

on a global scale – у світовому масштабі.
Exercise 2. Read and translate the text.
International trade

The history of trade is largely the history of civilization. First it was what we call barter, a simple exchange of goods. International trade has now developed into an intricate mechanism of transactions. Today trade is not confined to visible exports and imports of goods but also includes invisible items like services, transportation, insurance, expenditure by tourists, etc.

Countries usually specialize in certain products and commercial activities. This specialization depends on such factors as differences in climate, natural resources, labour force skills and technology. These special conditions give one country an advantage over others in producing certain goods or services.

A country has absolute advantage if it produces the goods that no other nation is able to produce. A country has a comparative advantage in a certain product if it is produced more efficiently and at lower cost. Nations usually specialize in those goods and services in which they have the greatest comparative advantage and exchange their surplus for things they need and want but do not produce themselves.

When countries engage in international trade they express their agreement to specialize in order to produce more of certain goods or services. Countries that trade can together produce more goods and services than they could in the absence of trade.

The balance of trade indicates the difference between the total value of a country’s imports and exports of visible items (goods). The balance of trade is an important part of the balance of payments, which also includes invisible items and capital transfers from one country to another. If the total value of the goods imported (visibles) is higher than that of the goods exported, the balance of trade is bad (adverse or unfavourable), that is to say it shows a deficit. If the reverse case is true, the balance of trade is good or favourable and it shows a surplus. Invisible items can cover the deficit of the balance of trade and as a result the country will have a favourable balance of payments.

What a country can achieve in international trade is shown by the terms of trade. The terms of trade are the rate at which a country’s exports are exchanged for its imports. Terms are said to be good or favourable to a country when the prices of its exports are high in relation to the prices of its imports, and a bad or unfavourable when the reverse is the case. On a global scale imports must equal exports, since every good exported by one country must be imported by another.

Exercise 3. Answer the following questions.

  1. What was the first form of trade and does it still exist?

  2. How does the concept of comparative advantage influence international trade?

  3. What is the difference between visible and invisible exports and imports?

  4. What does the balance of trade indicate?

  5. How does the balance of payments differ from the balance of trade?

  6. In what case is the balance of trade negative/ positive?

  7. How can a country with the deficit of the balance of trade achieve a favourable balance of payments?

  8. What do the terms of trade indicate?

  9. In what case are the terms of trade considered to be good/ bad?

10. How are exports and imports balanced on a global scale?

Exercise 4. Translate into English.

Простий обмін товарами; не обмежуватись чимось; переказ капіталу з однієї країни в іншу; несприятливий торгівельний баланс; дефіцитний баланс; профіцитний баланс; співвідношення; кажуть, що умови торгівлі сприятливі/несприятливі; в протилежному випадку; відносна перевага.

Exercise 5. Translate into Ukrainian.

Expenditure by tourists; the total value of a country’s exports and imports; if the reverse case is true; more efficiently and at a lower cost; to express agreement to specialize; to engage in international trade; that is to say; to cover the deficit; in relation to.
Exercise 6. Match and learn the synonyms.

A: trade, demand, value, reverse, indicate, favourable, unfavourable;

B: price, show, commercial, good, need, bad, opposite.
Exercise 7. Substitute the words in italics for their synonyms.

1. We’ve developed a wide commercial network within the western regions of the country. 2. The company needs modernization. In the opposite case it will fail. 3. The value of the goods imported has to be balanced against the value of the goods exported. 4. Last year’s balance of payments showed a considerable surplus. 5. The climate in northern countries is bad for agriculture.
Exercise 8. Match and learn the opposites.

A: rise, surplus, favourable, good, visible, true, absence;

B: false, fall, bad, presence; invisible, unfavourable, deficit.
Exercise 9. Substitute the words in italics for their opposites so that the sentences make sense.

1. If prices rise people are able to buy more goods and services. 2. When a certain industry produces more goods than the population demands it creates a deficit which can be exported. 3. As we cannot see services or insurance they are referred to as visibles. 4. His plan is very efficient. I have the most unfavourable impression of it. 5. The chief accountant is away on business. We cannot decide this problem in his presence.
Exercise 10. Complete the sentences using the proper words from the list below:

transaction, item, comparative advantage, trade, unfavourable, specialization, expenditures

1. We are not confined to … only; we service the merchandise we sell. 2. If we produce these … at a lower cost, we’ll have a … over our competitors. 3. The … we carried out last months was very profitable. 4. Barter operations still exist, but they are very … for the economy. 5. Good climate or rich natural resources determine the … of a country’s economy. 6. If we attract more tourists to this region their… will increase the local budget revenues.
Exercise 11. On the basis of the text define the following terms:

international trade, balance of trade, balance of payments, terms of trade, barter.
Grammar point : Direct and Reported Speech (p.148-150)

* The verbs ‘to speak’ vs. ‘to talk’; ‘to tell’ vs. ‘to say’

* ‘to speak’ vs. ‘to talk

There is not a completely clear difference between speak and talk. Generally, speak is more formal and usually refers to the use of language by just one person. Talk suggests the idea of a conversational exchange. Compare:

I’ll have to speak to this bookkeeper - he is getting very inattentive. After the presentation the guests began to talk sharing their opinions.

* ‘to tell’ vs. ‘to say

When we use tell we mention the person to whom we address our speech, to tell somebody (about) something. Say is used without any personal object, to say something. Compare:

She told me that she would be late for the meeting.

She said that she would be late for the meeting.

Exceptions: to tell a story, to tell the truth, to tell a lie.

Exercise 12. Insert one of the following verbs to say, to speak, to talk, to tell in the proper tense form.

1.I’d like to know what they … about? 2. Our manager came from the trade exhibition and … us a lot of interesting things. 3. He made a mistake in the last sentence and the teacher asked him to … it again. 4. He has already … about it, hasn’t he? What did he …? 5. Every time I see my school friends we … about our school days. 6. Our English teacher often … that Sergiy can … the language very well. 7. The secretary … that the man I’d like to … to is coming here tomorrow.
Exercise 13. Express the following statements in reported speech using the reporting verbs in brackets.

1. “Our firm will be the leader in the market in a few months”, he said (boast). 2. “Yes, your terms are better than your competitors’ ”, she said (agree). 3. “They haven’t given me any explanation”, Mike said (claim). 4. She said, “Well, your proposal sounds interesting” (admit). 5. He said angrily, ”They never supply goods in time!” (exclaim). 6. The banker said,”We do not know your credit history” (protest). 7. “The opportunity to expand is very favourable at the moment”, he said to his boss (tell). 8. “Sh-sh-sh… You are speaking too loudly”, she said (whisper). 9. He said, “This project is vital for our business” (stress). 10. He said to himself, “Everybody will come to the presentation tomorrow” (think).
Exercise 14. Express the following questions in reported speech using the reporting verbs in brackets.

1.”Have you ever visited their office?” he asked me. 2. “Where does this money come from? “ she asked (want to know). 3. “When did you write to your partners last?” he asked (request). 4.”What were you doing yesterday at seven?” she asked (inquire). 5. “Haven’t they already completed this transfer?” the manager asked (wonder). 6. “Why did they change their opinion yesterday?” his boss asked (want to know). 7. “Are you going to set up a joint venture?” my friend asked me. 8. “Whom did you apply for the credit?” the chief accountant asked his employee. 9. “Will they have finished this construction by the end of the year?” the director asked (want to know). 10. “Where will they locate their new plant?” my partner asked (inquire).
Exercise 15. Express the following orders, requests and proposals in reported speech using the reporting verbs in brackets.

1. “Please, help me with this work”, she said to me (ask). 2. “Let’s write down our proposals and then discuss them in details”, he said (suggest). 3. “Open the ledger at page 27”, the accountant said to his assistant (tell). 4. “Please, don’t tell her about my failure”, he said to me (ask). 5. “Never mention this name to me again”, he said to his friend (warn). 6.”Let’s go and visit him tomorrow”, she said (propose). 7. “Don’t forget to send them a message”, he said to his secretary (tell). 8. “Please, sit down”, she said (invite). 9. “Better do it now”, he said (advise). 10. “Consider every clause of the agreement carefully”, the director said to his deputy (order).
Exercise 16. Retell the following dialogue in reported speech.

Anna: What is the matter with you, Jack? You don’t look yourself.

Jack: I am afraid I’ve made a serious mistake when summing up our revenues for the last month.

Anna: Stop worrying and go to the chief accountant immediately. I think it isn’t late to correct your report. They haven’t shown the documents to the board of directors yet.

Discussion of the text.

1. Speak about international trade and its components.

2. Explain the essence of the theory of comparative advantage.

3. Speak about the balance of trade and the balance of payments.

4. Speak about the terms of trade and the ways to improve them.

MODULE CONTROL ASSIGNMENTS FOR SELF-WORK

Assignment 1. Use the verb in brackets in the proper tense form.

1. He thought that they (to finish) that export operation. 2. It was clear that we (to lose) much money as our sales (to decrease). 3. He knew that he (to be) right, (to be) right from the very beginning. 4. I saw that he (to try) to explain why he (to refuse) to cooperate with us. 5. The manager announced that the members of the board of directors (to come) to visit our enterprise next week. 6. We knew that he (to be) back from his business trip by Monday. 7. I thought that she (to study) financial management before she (to get) that job. 8. The Buyers stated that the goods (to meet) their requirements. 9. We were sure that our transaction (to be) a success. 10. They expected that the reconstruction of that enterprise (to require) five to six months.
Assignment 2. Write the following dialogue in reported speech.

Uncle: Let us see whether you are smart at mathematics, Charley! I had twenty dollars and borrowed fifty from your aunt and twenty from your dad. What does that make?

Charley: To my mind, that makes debts.
Assignment 3. Rewrite the following passage in direct speech as a dialogue.

Peter met George in the street and after the usual greeting asked him whether he had really decided to get a new job. George said that he had found a job with one of the companies that engaged in international trade. Peter asked whether that was a firm decision. George answered that it was, because he had studied international business at college and he was interested in gaining practical experience in that field.
Assignment 4. Match the definition on the right with the word on the left. Compose 5 sentences of your own with the words defined.

Absolute advantage -

the direct exchange of goods and services for other goods and services.

Balance of trade -

the things we buy that do not involve the production of physical things, such as legal advice or education.

Barter -

an institution through which buyers and sellers interact and engage in exchange.

Market -

the advantage in the production of a product enjoyed by one country over another when it uses fewer resources to produce that product than the other country.

Services -

a country’s merchandise exports minus its merchandise imports.


Assignment 5. Read and translate the text.

National economy of the USA

The United States of America is a highly industrialized country. It has a lot of mineral deposits such as coal, gold, silver, iron ore, copper, lead and zink. The south, especially Texas is rich in oil. The coalfields in Pennsylvania are rich in coal. The USA is the world’s leading producer of copper and the world’s second producer of iron ore and coal. Among the most important manufacturing industries are the production of aircraft, cars, computers, armaments, furniture and paper. Together, all sectors of the American economy produce almost $5,000 billion worth of goods and services each year.

Illinois, Iowa, Nebraska constitute the richest farming region known as the Corn Belt. They grow mostly corn and wheat there. California is a fruit raising area. Oranges, grapefruit, lemons, as well as other fruits, wines and vegetables are sent all over the States and exported to other parts of the world. America exports about $ 550,000 million worth of farm products each year. It produces half of the world’s soybeans and corn, and vegetable oil.

American industries have become more service-oriented. Of 16 million new jobs created lately, almost 85% have been in service industries: commerce, stocks and goods speculation, hotel and tourism services, financial and auditor’s advice, medical services and others.

The bulk of American wealth is produced by private industries and businesses, ranging from giants like General Motors or IBM Inc. to thousands of small independent enterprises. The public sector accounts for only one-fifth of American economic activity.

The USA is the world’s largest exporter of different goods and services, investor and creditor; it has a favourable balance of trade. This fact guarantees high living standards to the Americans, most of whom belong to the middle economic class.

The government of the USA plays a particular role in running the economy of the country. It supports the development of the country’s transportation network, checks the quality of foods and medicines, insures bank deposits, and guarantees long-term loans and mortgages to the citizens.
Assignment 6. Make up a list of products created in:

  • manufacturing industries;

  • agriculture;

  • service industries.


Assignment 7. Make written translation of the following passage.

Recently, unemployment in the USA was calculated at about 7%. To support the unemployed the government provides short-term unemployment compensation to replace wage losses between jobs. In addition, it provides job training to help unemployed Americans to acquire a new profession.
Assignment 8. Complete the sentences with the proper words from the list below:

quality, ranging, worth of, oil deposits, loan

1. Texas is famous for its… 2. This company produces UAH 1.5 million… footwear annually. 3. We are continuously improving the … of our services. 4. They export different machinery … from small farming machines to home appliances. 6. Young families can get a long-term … to buy a flat.
Assignment 9. Get ready to speak about the economy of the USA.
GRAMMAR REFERENCE

WORD ORDER ПОРЯДОК СЛІВ У РОЗПОВІДНОМУ РЕЧЕННІ

Підмет(з означенням) присудок додаток (прямий/непрямий)

(з означенням)→ обставина (способу, місця, часу дії)

  • First-year students make reports on economic problems at their practical lessons.

Обставина (місця/часу дії)→ підмет(з означенням)→ присудок →

додаток (прямий/непрямий) (з означенням)→ решта обставин

  • At their first lesson at college our students get acquainted with their programme of studies for the next five years.


THE TYPES OF INTERROGATIVE SENTENCES

ТИПИ ПИТАЛЬНИХ РЕЧЕНЬ


  • General Questions

Загальні питання

Форма:

допоміжне дієслово→ підмет→ основне дієслово→ інші члени речення

Приклад:

My sister studies at Chernivtsy Institute of Trade and Economics.

Does your sister study at Chernivtsy Institute of Trade and Economics?

They are discussing our offer. – Are they discussing our offer?



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