6. Put the questions to the underlined words:
1) Without the free publicity, the firm would be lost in the jungle of TV advertising. (Where … ?)
2) They will create a new fund to keep poorly capitalized banks from failing. (Why … ?)
3) The two men were appointed joint managing directors in June. (When … ?)
4) He earned a living writing advertising jingles. (How … ?)
5) Joblessness is steadily rising. (What … ?)
7. Write the letter in the appropriate order, use notes in box to complete the letter:
|
1) Encl.: 1 price list.
2) 20 November, 2006.
3) Gentlemen:
4) R Hughes & Son Ltd.
21 Mead Road
London ES 5A 3BB
England.
5) Yours faithfully,
Mr. Giordianino
Sales Manager
Parton Manufacturing Ltd.
6) Parton Manufacturing Ltd.
Preston New Road
Blackpool
Lancashire FX 4 4U2
1. Translate the marked part of the text:
(1)One of the major debates in capital theory is to determine the time it takes to produce a final good from its original matter. Is it possible to measure the period of production? Many economists dismiss the entire concept of a time-oriented structure of production because of this difficulty. They argue that the period of production is virtually infinite.
(2)The dilemma is resolved by treating the first stage of production at the point where a new undertaking actually begins, not when the first joint capital good was produced. Every extractive industry today uses heavy industry in the first stages of production, and it is quite appropriate to consider this the beginning of production. Thus, the first stage of iron ore production is mining with heavy machinery.
(3)The first stage of constructing a building, therefore, does not have to be traced back to when the cranes and other tools to be used were manufactured. These capital goods have already been made and are in inventory, ready for use. The period of construction is actually measured from the point when the company directors, having decided to construct the building, call in the architect to make the plans. The production period ends when the building is finished and ready to open for business. Typically a large multi-level building will take three to five years from the time of conception to its grand opening.
(4)However, suppose a major machine necessary in the building of a new project is not in inventory, but has to be ordered. Its construction must then be included in the period of production. This is often the case with specialized expensive projects that are "built to suit." Cost of materials and labor is not the only factor. Time is also a cost, as reflected in the necessity of waiting and the interest paid before the project can be completed and revenue received.
2. Read the text and choose the correct answer:
1) What is the major debate in capital theory?
a. The major debate in capital theory is to determine the money it takes to produce final goods.
b. The major debate in capital theory is to determine the labour it takes to produce final goods.
c. The major debate in capital theory is to determine the time it takes to produce final goods.
2) What does every extractive industry use in the first stages of production?
a.Every extractive industry today uses new equipment in the first stages of production.
b. Every extractive industry today uses heavy industry in the first stages of production.
c.Every extractive industry today uses workforce in the first stages of production.
3) How do we measure the period of construction?
a. The period of construction is measured from the point when the company directors call in the constructor to build the edifice.
b. The period of construction is measured from the point when the company directors call in the architect to make the plans.
c. The period of construction is measured from the point when the company workers call in the architect to make the plans.
4) How many years do we usually need from the time of conception to the grand opening of a large multi-level building?
a. We usually need three to five years from the time of conception to the grand opening of a large multi-level building.
b. We usually need five to seven years from the time of conception to the grand opening of a large multi-level building.
c. We usually need one to three years from the time of conception to the grand opening of a large multi-level building.
5) Why do many economists dismiss the entire concept of a time-oriented structure of production?
a. Many economists dismiss the entire concept of a time-oriented structure of production because of the difficulty.
b. Many economists dismiss the entire concept of a time-oriented structure of production because of the expensiveness.
c. Many economists dismiss the entire concept of a time-oriented structure of production because of the lack of experience.
3. Read the text again and find the word that means:
1) One of several points that something reaches as it grows or develops. (p.2)
2) The production of raw materials and goods. (p.2)
3) Costing a lot of money (p.4)
4) Carefully planned piece of work that will create something new. (p.4)
5) The amount of money you have to pay in order to buy something. (p.4)
4. Fill in the gaps with the appropriate words:
Law of Demand, to transfer, personal satisfaction, commodity, wages, suitable, investment, monopoly, the means of production, account.
1) By private property we mean the right of individuals and business firms to own ….
2) Non-essential commodities provide some ….
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