Look through the text. Guess the meaning of the words in italics from the context. Use a dictionary to check the meaning.

Date: 2015-10-07; view: 382.

How scientists work

Scientific research is a creative process that can involve a variety of techniques. Important advances may result from patient hard work or sudden leaps of imagination. Even chance can play a role in the scientific process. Scientists use a number of methods in making discoveries and in developing theories. These methods include: 1) observing nature; 2) classifying data; 3) using logic; 4) conducting experiments; 5) forming a hypothesis (proposed explanation); 6) expressing findings mathematically. Most scientific research involves some or all of these steps.

Observing nature is one of the oldest scientific methods. For example, in the 1830's, Charles Darwin carefully observed plants and animals in many parts of the world serving as a naturalist with the British scientific expedition. Study of the specimens collected on the voyage helped him develop his theory that modern species had evolved from a few earlier ones.

Classifying data can reveal the relationships among observed facts. In the mid-1800's, Dmitri Mendeleev, a Russian chemist, classified the elements into families or groups in a chart called the periodic table. On the table, elements with similar properties appeared at regular intervals. Gaps in the table indicated elements that were nor yet known. Scientists soon proved the importance of Mendeleev's systematic classification when they discovered the existence and chemical properties of new elements that filled the gaps.

Using logic enables scientists to draw conclusions from existing information. In the late 1800's, a German physicist named Wilhelm Wien studied the relationship between temperature and the energy radiated from the solids and liquids. After studying many specific examples, he noted that multiplying the temperature of a heated solid or liquid by the wavelength of greatest intensity radiated at that temperature always produced the same number.

Conducting experiments is a major tool in developing and testing scientific theories. The Italian astronomer and physicist Galileo was one of the first scientists to recognize that systematic experimentation could help reveal the laws of nature. In the late 1500's, Galileo began performing carefully designed experiments to study the basic properties of matter in motion. By rolling balls of different weights down inclined planes, he discovered that all objects fall to the ground with the same acceleration, unless air resistance or some other force slows them down.

Forming a hypothesis requires talent, skill, and creativity. Scientists base their proposed explanations on existing information. They try to form hypotheses that help explain, order or unify related facts. They can use experimentation and other means to test their hypotheses. The discovery of the planet Neptune in the mid-1800's resulted from the formation of a hypothesis. Astronomers noticed that Uranus, which they thought was the most distant planet, was not always in the position predicted for it by the laws of gravitation and motion. Some astronomers hypothesized that the force of gravity from an unknown planet might cause the variations in the orbit of Uranus. By calculating where such a planet could be, they eventually discovered Neptune.

Expressing findings mathematically can express how the world works. Galileo and Newton and Einstein expressed the results of their work using mathematics.

3. Here are the answers to some questions. Work out the questions:

1. Observing nature.

2. In many parts of the world.

3. Dmitri Mendeleev, a Russian chemist.

4. In the late 1800's.

5. That systematic experimentation could help reveal the laws of nature.

6. Yes, it is. Because it requires talent, skill and creativity.

4. Find key sentences and speak on the content of the text.

TEXT 3 C

1. List inventions in order of importance for the mankind in your opinion. Explain your choice:

ü the computer

ü the wheel

ü the electricity

ü the space rocket

ü the television

ü the atomic bomb

ü the antibiotics

ü the telephone

ü the plane

2. Do you know who invented the following things? Skim the text and prove your suggestions by the facts from the text:

1) penicillin

2) theory of relativity

3) magnetism

4) electromagnetic waves

5) nuclear chain reaction

6) microbiology

7) theory of evolution

8) psychoanalysis

The history of science

From the earliest times, people have been curious about the world around them. Thousands of years before civilization began, people learn to count and tried to explain the rising and setting of the sun and the phases of the moon. They studied the habits of the animals they hunted, learned that some plants could be used as drugs, and acquired other knowledge about nature. These achievements marked the beginnings of science. They were among the first attempts to understand and control nature. In general, mathematics and medicine were the first sciences to develop, followed by the physical sciences and social sciences.

The most ancient science was developed in Egyptian and Babylonian cultures as early as 3000 B.C. The Chinese and Indian civilizations developed a little later, in 300 B.C. But the Greeks left the greatest scientific heritage of all the ancient peoples. Aristotle (300 B.C.), the greatest Greek philosopher, studied many areas of science. He also developed deductive logic as a means of reaching conclusions. Greek mathematicians Pythagoras and Euclid (300 B.C.) had perfected geometry as a single logical system. Archimedes (200 B.C.) was not only mathematician but also a great inventor.

By the 100's A.D., the city of Rome had conquered much of the known world, including the Greek civilization. They were excellent architects, engineers and builders but they contributed little to theoretical science. They accepted the scientific knowledge of Greeks.

The Middle Ages was a 1,000-year period in European history that began in the 400's A.D. For hundreds of years after this period began, little scientific investigation took place in Europe. Most scholars were more interested in theology, the study of God, than in the study of nature.

The rebirth of science in Europe began in 1543 with the publication of two books that broke scientific tradition. One book was by the Polish astronomer Nicolaus Copernicus “On the Revolutions of the Heavenly Spheres”, and the second by Andreas Vesalius, an anatomist, named “On the Structure of the Human Body”.

The scientific revolution took place during the late 1500's and early 1600's because scientists realized the importance of experimentation and mathematics to scientific advances. The great scientists Galileo (an astronomer), Isaac Newton (a physisist and astronomer), Wilhelm Lebniz (a philosopher), Robert Boyle (a chemist) and others worked at that period.

The Age of Reason, also called the Enlightenment (Просвіта), was a philosophical movement that greatly affected the development of science during the late 1600's and the 1700's. The leaders of the movement insisted that the use of reason was the best way to determine truth. The philosophers of the Age of Reason developed many rules of scientific study that are still used.

In 1800's scientific advances were great. Darwin's theory of evolution became one of the most intensely debated scientific issues of the late 1800's. The theory aroused especially fiery opposition among religious leaders who thought that it conflicted with the Biblical account of the Creation. Another important idea in biological sciences was the theory that all living things are made up of cells (proposed by two German scientists, Mattias Schleiden and Theodor Schwann). D. Mendeleev systematizes the study of chemistry, James Joule advanced the law of the conservation of energy, James Maxwell worked out the mathematical equations for the laws of electricity and magnetism, Heinrich Hertz produces elecromagnetic waves and his work led to the development of radio, radar and TV. Gregor Mendel, an Austrian monk, discovered the basic statistical laws of heredity that laid the foundation for the science of genetics. Louis Pasteur started modern microbiology. Sigmund Freud established the field of psychoanalysis.

3. What do these dates in the text refer to?

3000 B.C., 300 B.C., 400 A.D., 1543, 1800's.

4. What discoveries and inventions are likely to appear in the near future? Continue the list of inventions in the text with 3-5 ideas of your own.

HOME-READING

TEXT 3 D

1. Before you read, fill in the table:

What do you know…

2. Compose questions about Einstein's life which you want to be
answered.

3. Read the text. Check the meaning of these words:

Release, to warn, needle, to confirm, to accomplish, property, vital, to decline.

Albert Einstein (1879-1955)

Albert Einstein was one of the greatest scientists of all time. He is best known for his theory of relativity, which he first advanced when he was 26. He also made many other contributions to science. Einstein's relativity theory revolutionized scientific thought with new conceptions of time, space, mass, motion and gravitation. He treated matter and energy as interchangeable, not distinct. In so doing, he laid the basis for controlling the release of energy from the atom.

Thus, Einstein was one of the fathers of the nuclear age. On August, 2, 1939, Einstein wrote a letter to President Franklin D. Roosevelt, explaining that it might be possible to build an atomic bomb. Einstein urged the President to provide Governmental help for the study of the release of nuclear energy. Einstein also warned the President that Nazi Germany might already be trying to build an atomic bomb. His letter set the United States on the long, difficult and costly path that finally led to the production of an atomic bomb in 1945.

Einstein was born on March, 14, 1879, in Ulm, Germany. When he was five, his father showed him a pocket compass. The little boy was deeply impressed by the mysterious behavior of the compass needle, which kept pointing in the same direction no matter which way the compass was turned. He later said that “something deeply hidden had to be behind things.”

After public school in Munich and in Aarau, Switzerland, Einstein studied mathematics and physics at the Swiss Polytechnic institute in Zurich. He graduated in 1900. Einstein became a Swiss citizen in 1905. During this time, in one of his papers, Einstein suggested that light could be thought of as a stream of tiny particles. This idea forms an important part of the quantum theory. Using this theory, Einstein explained the photoelectric effect. His paper established the theoretical basis for the photoelectric cell, or “electric eye”. This device made possible sound motion pictures, television and many other inventions. Einstein received the Nobel Prize in Physics for this paper on quanta.

In a second paper, titled “The electrodynamics of moving bodies”, Einstein presented the special theory of relativity. He demonstrated there the relativity of time, a previously unimaginable idea. The general theory was published in 1915.

The third major paper of 1905 concerned Brownian motion, an irregular motion of microscopic particles suspended in a liquid or gas. It confirmed the atomic theory of matter.

Einstein accomplished all these before he held any academic position. But in 1909, he became professor of theoretical physics at the university of Zurich. In 1911 and 1912, he occupied the same position at German University in Prague. Einstein was elected to the Prussian Academy of sciences in Berlin in 1913. When he accepted the professorship of physics at the University of Berlin in 1914, he once more assumed German citizenship. The same year, he became director of the Keiser Wilhelm Physical Institute in Berlin.

In 1933, while Einstein was visiting England and the United States, the Nazi government of Germany took his property and deprived him of his positions and citizenship. Even before this misfortune occurred, however, Einstein had been invited to become a member of the staff of the newly created Institute for Advanced Study in Princeton, N.J. Einstein settled down in Princeton. He lived there until his death. In 1940, Einstein became an American citizen. He died on April 18, 1955.

Although he lived a quiet personal life, Einstein maintained a vital interest in human affairs. He was fond of classical music and played the violin. He had a deep compassion for people who were politically or economically oppressed. He supported Zionism, and was offered the presidency of the state Israel in 1952. But he declined this honor, insisting that he was not fitted for such a position.

Einstein was married twice. He had two sons and a daughter by his first wife. He gained two stepdaughters in his second marriage.

Although he was not associated with any orthodox religion, Einstein's nature was deeply religious. He never believed that the universe was one of chance or chaos. The universe to him was one of absolute law and order. He once said, “God may be sophisticated, but he is not malicious.”

4. Put the following events of Einstein's life into chronological order:

a. Einstein first advanced the Theory of relativity.

b. He was offered the presidency of the state Israel.

c. He studied mathematics and physics at the Swiss polytechnic institute.

d. Einstein became professor of theoretical physics at the University of Zurich.

e. He became a Swiss citizen.

f. Einstein received the Nobel Prize in Physics.

g. The general theory of relativity was published.

h. The Nazi deprived him of his positions and citizenship.

i. He was invited to the Institute in Princeton.

j. He accepted the professorship of physics at the University of Berlin.

5. Read the text more carefully again. Ask each other and answer
questions about his life:

When...? Where...? What...?

How often..? Did he...? Why...?

Who...? At what age... ?

ADDITIONAL READING

Science in the 1900's

Revolutionary advances in physics marked the beginning of the 1900's as scientists continued to challenge existing ideas. Max Planck, a German physicist, advanced his quantum theory to explain the spectrum of light. In 1905, another German physicist, Albert Einstein, showed that light may be regarded as consisting of individual energy units, which he called photons. That same year he published his special Theory of Relativity. In 1911, the British physicist Ernest Rutherford theorized that the mass of an atom is concentrated in a tiny nucleus, which is surrounded by electrons travelling at tremendous speeds. Chemists used the new information about atoms to improve their ideas about chemical bonds. They produced many new compounds and developed the variety of plastics and synthetic fibers.

Great progress was also made by social scientists as they began to rely more heavily on statistical analyses and scientific research methods. In the biological sciences, a number of physician -scientists showed the importance of vitamins in the human diet. Their achievements helped conquer such diseases as beriberi and scurvy. In 1928, Alexander Fleming, a British bacteriologist, discovered penicillin, the first of many antibiotics.

In 1942 Italian-born physicist Enrico Fermi and his co-workers achieved the first controlled nuclear chain reaction at the University of Chicago. Intensive research during World War II led to the use of nuclear energy in weapons.

The space age began in 1957, when the Soviet Union launched the first artificial satellite to circle the Earth. Then came the turn of a man. The first man to see the Earth from space was Yuri Gagarin. In 1969, two U.S. astronauts became the first human beings to walk on the moon. Astronomers also greatly expanded their knowledge of the size, structure and history of the universe with the use of radio telescopes. Science also made important contributions to technology in the mid 1900's. Physicists invented the transistor, which revolutionized the electronics industry and enabled manufacturers to produce portable battery-powered radios and TV-sets, pocket-sized calculators and high-speed computers. Similarly, the invention of lasers (concentrated beams of light) promised great advances in communications, electronics, medicine and weapons.

1. Write a short essay on the development of science in your country. Mention the names of scientists working in your University and the fields of science they are working in.

Listening Comprehension

Listen to the text and answer the following questions:

1. Where are most modern science-fiction stories set?

2. What differs science-fiction from fantasy?

3. Who are the most popular science-fiction writers?

JOKES AND ANECDOTES

* * *

A girl wishing to enlist in the WAC to be trained as radio operator was asked: "Do you know Morse?"

"No," she replied. "But I¢d like to meet him!"

* * *

Prof. – "Can you tell me anything about the great chemists of the 17^th century?"

Stud. – "They are all dead, sir."

Beggars can scarcely be choosers.

Robert Browning

(1812 -1889)

Unit 4

BUSINESS AND ECONOMY

Do you know that ...

…few millionaires started with inherited wealth?

…the first Rockefeller ( John D. 1839-1937) started life as a clerk?

…the biggest coins (found in one of the East Pacific Islands) are so heavy that it takes several men to carry them?

…the lightest and the smallest coins(southern India) were pin-head size?

Active vocabulary

LEXICAL EXERCISES

Exercise 1.Translate the derivatives:

agreement, investment, operation, interaction, performance, fluency, growth, strength, presently, poor, cleanup, want, measurement, creative, creatively, expected, unexpected.

Exercise 2. Fill in the table with words of these word families.

Explain the difference in nouns:

a) scientist, science, scientific;

b) employer, employee, employ;

c) pay, payer, payment, payable;

d) product, produce, production, productive, productivity.

Exercise 3. Match synonyms:

Exercise 4. Match opposites:

Exercise 5. Translate the attributive chains:

Business dealing; employer-employee business transaction; hair dryer; market price; state level; supply and demand figure; consumer demand; labor force; all land and raw materials; scientific research and inventions; capital goods; business manager; future production.

Exercise 6. Translate the word combinations:

Exercise 7. Define whether the words in bold type are the nouns, verbs, adjectives, adverbs or participles:

1. Every business needs skilled employees.

Every business meets needs of customers.

Meeting needs has two sides.

2. Any business requires investment of money, work, time, skill, and experience.

I don't think you work too much.

3. An automobile belongs to goods. I've bought a good automobile.

Do you want to have a look at it? When people buy goodsthey satisfy their wants.

4. She left her expensive purse at home.

He injured his left arm.

Income is money left after expenses.

5. Businesses provide goods and services demanded by consumers.

Sometimes demand exceeds supply.

6.Capitalincludescapital goods, tools, supplies and money.

7. «Financial Times» is a weekly newspaper. I receive it weekly.

8. Some consumers own natural resources.

A few years ago they started their own business.

9. Do you plan your day?

What's your plan for today?

GRAMMAR REVIEW

COMPARE TENSES

I. Past Simple (I did) and Past Progressive (I was doing)

Exercise 8. Choose the correct form: Past Simple or Past Progressive:

1. They calculated/were calculating their expenses when the financial statement was submitted / was being submitted.

2. What did you do/were you doing at 10 o'clock last night?

3. I saw/was seeing you in the office yesterday. You discussed/were discussingthe latest events with the Vice President.

4. While he compared/was comparing the prices, he found out/was finding out that some of them were highly competitive.

5. When I was/was being young, I wanted/was wanting to start my own business.

6. She bought/was buying a CD player and paid/was paying in cash.

7. A transaction was concluded/was being concluded when the news came.

Exercise 9. Choose the correct form to complete the sentences:

1. The documents .….. ….to the Deputy Minister by e-mail half an hour ago:

a) is sent; b) were sent; c) was sent; d) did sent.

2. His garage .………. when he bought a car:

a) was building; b) was built; c) was being built; d) were being built.

3. She was walking along the road when the car .…………. :

a)was crashing; b) crashes; c) had crashed; d) crashed.

4. Did you .……… the Tower when you were in London?

a) seen; b) saw; c) sees; d) see.

5. What .….. you doing at 8 p.m.?

a)do; b) did; c) were; d) was.

Exercise 10. Complete the sentences according to the model:

1. Mary had the access to these documents while she was working in the accountancy.

2. The delegation arrived while ... .

3. We studied economics while ... .

4. They saw an accident while ... .

5. I fell asleep while ... .

6. The phone rang while ... .

7. He saw ... while ... .

Exercise 11. Express your disagreement with the statements. Use:

I don't think so. I can't agree (with you).

That's not true, I'm afraid. I'm sure that's wrong.

Model:Last Sunday I was on a train on my way to Kyiv. –

That's wrong. Last Sunday I was not on a train. I was at home.

1. He was late for his classes yesterday.

2. Julia was chatting over the telephone when Ron came back.

3. Last winter I earned £220 to pay my tuition fee.

4. You spent a lot of money yesterday.

5. Christopher Columbus manufactured consumer goods.

6. We were tired in the morning.

7. They were attracting customers at the beginning of the season.

8. They were so busy they didn't find time to listen to the latest news.

9. She was accepting invitations to a New Year party.

10. Robert Browning was a businessman.

11. We were considering methods to increase productivity of labour at 3.30 a.m.

Exercise 12. Restore the questions to these answers:

1. What ____________ for two hours? – I was waiting for my employer.

What ____________? – I wanted him to increase my salary.

– _______________? – No, he didn't. I hope he will some day.

2. Where ___________ when I saw you? – I was going to a library.

– _______________? – Yes, I did. I spent over four hours there.

3. You missed your working hours yesterday. What's the matter?

_________________?

– Yes, I was. I had a terrible headache.

PARTICIPLES

PARTICIPLE I

PARTICIPLE II

Exercise 13. Choose the correct English version of the statements:

1. Збільшивши об'єм виробництва, компанія також покращила якість своєї продукції.

a) Increasing the volume of production, the company also improved the quality of its products.

b) Having increased the volume of production, the company also improved the quality of its products.

2. Переглядаючи цінник, він здивувався.

a) Looking through the price-list he got surprised.

b) Having looked through the price-list he got surprised.

3. Заробляючи на життя, він брався за кожну роботу.

a) Earning for living he took any job.

b) Having earned for living he took any job.

5. Схвильований майбутнім звітом, він не міг заснути.

a) Exciting with the forthcoming statement he couldn't fall asleep.

b) Excited with the forthcoming statement he couldn't fall asleep.

6. Результати переговорів були несподіваними.

a) The results of the negotiations were unexpecting.

b) The results of the negotiations were unexpected.

7. Подробиці контракту обговорювалися за ленчем.

a) Discussing the details of the contract, Tom and John were having their lunch.

b) Having discussed the details of the contract, Tom and John were having their lunch.

Exercise 14. Translate the word-combinations:

A. a student studying accountancy; a businessman contributing to the national economy; a boy graduating from a business college; an expanding business; a declining economy; a scientist conducting an original research; falling prices; existing problems; changing state of business.

B. advanced research; acquired knowledge; gained experience; some data collected by researchers; borrowed money; increased income; information required by many people; a well-known car dealer.

C. explaining the rules; including new details; revising sources of information; considering new facts; providing business opportunities; offering help to fellow-students; solving a new problem; observing processes in pricing.

D. having raised the prices; having solved the problem; having gained much experience; having read a statement; having invested in car business; having made a contribution; having conducted the experiment; having updated the information; having earned $12,456.

Exercise 15. Translate the sentences:

1. Do you know the two gentlemen discussing something at the window?

2. Having been calculated in a wrong way, the profit was not very high.

3. Using new equipment sent by their sponsors, they received the required results.

4. Walking home I met a friend of mine who was waiting for his girl.

5. Rising prices resulted from shortage of supplies.

6. Looking for a job, he reads advertisements in newspapers.

7. Having considered all aspects of this issue, the Board of Directors decided to increase the volume of production.

8. The conference fee paid prior to April 1 will be lower.

9. The company offers a program for advanced learners.

10. The problems being discussed at the conference are not very interesting for me. I'm interested in problems concerning noise pollution.

11. New customs regulations having been set, the formalities became much simpler.

Exercise 16. Match lines in A and B to make one sentence:

Exercise 17. Make sentences beginning with Having…:

The teacher explained a new rule. Then she gave some examples. –

Having explained a new rule, she gave some examples.

1. They had a course for a master's degree. They took examinations in English and Philosophy.

2. They passed all examinations. They were awarded a master's degree.

3. He entered the room. He said hello.

4. She graduated from the university. She found a job of an environmental engineer.

5. The company increased the productivity. The company received more profit.

6. The company received more profit. The company expanded its business.

Text 4 A

Task 1. Give your ideas on the following. Use: I think… I suppose … I'm sure…:

1.What is business?

2. What are the roles business plays in a market system? Which of these roles is the most important? Why?

3.Are you involved in business in any way? If yes, how?

4.What is the role of the consumer in a market system?

Task 2. Does competition offer any advantages to consumers? Describe them. Use: First of all… Secondly … Also… Finally….

Task 3. Read and translate Text 4A:

Business and Economy

You and Business

The world of business may seem far away from your life but you are already involved in business and with business. Business is already an important part of your life.

You eat, wear clothes, and have a place to live. Therefore, business dealings touch your life every day.

When you buy something you become acustomer. You got something you wanted, a CD, for example. However, you did not only satisfy a personal want, you also provided money for both the store that sold the CD and the company that made it. And companies need money in order to stay in business.

Every business also needs people to fill particular jobs in the production of goods and services.

Going to work represents a business transaction. The transaction involves an agreement between you and your employer. When you go to work for someone else, you become anemployee.

A job is a continuing business transaction. It represents a cycle of buying and selling. When you accept a job, you agree to sell, or to provide your employer with certain resources, or things of value. These include your skills and your working time. Your employer agrees to buy, or to pay you money for your resources.

The agreement between an employer and an employee is acontract. Under contract, both the employer and the employee haveobligations. An obligation under a contract means that you are responsible for keeping your word.

A basic part of the employer - employee business transaction is being paid for your work. Awage is payment in return for work performed. Wages are usually paid on an hourly basis. Asalary is a set rate of payment, usually on a weekly or monthly basis. Before you accept a job, you should know how much you will be paid.

A business exists to sell aproduct. A product is what a business makes or does. Products may be goods or services. An automobile belongs to goods, as a hair dryer does. A haircut is a service. Insurance is a service.

Some businesses offer a combination of the two. A restaurant, for example, sells food products, which are also goods. It also sells the preparation and serving of the food and the cleanup afterwards. These are services.

The nature of business

A business is a person, a group of people, or an organization that meets needs. All businesses start with an idea. A person or an organization identifies a need or demand and decides to meet that demand. A business is then organized to put that idea to work. Behind the idea liesmotivation. One motivating force in business isprofit, the income earned by a business.

Meeting needs has two sides. The person or organization with the demand is the buyer, or customer. The person or organization that meets the demand is the seller, or supplier.

You have demands for both goods and services. You meet these demands by doing businesswith people or organizations that can meet your demands. In exchanging something of value, such as money, for something you want, you are taking part in a business transaction. A transaction, then, is the basic act of doing business.

Operating a business requires an investment of resources. Resources include money, time, skill, experience and work. An investment involves risk – a business can fail.

Fig. 4.1. The economy has a cir­cular flow of goods and services and an oppos­ing flow of money to pay for the goods and services.

Businesses circulate money. The income of a business provides money for the payroll, supplies, and other expenses of operation. The proprietor draws income from money left after expenses. Employees of the business are customers of other businesses. The business itself is a customer of other businesses from which it purchases the products it needs to operate.

The financial condition of a business is determined by a process called accounting. Original entries of business transactions are recorded in journals. At specific intervals, the information is summarized into financial statement. Accountants then interpret the figure to determine the financial strength of the business.

The world of business revolves around putting ideas and resources to work to create opportunities.

Businesses are created in response to the market system.

The economy is the sum of all business transactions, jobs, and goods and services produced, sold and purchased. Economics exist at national, state, regional, and local levels.

Economics is the social science that studies the economy.

Demand is the amount of goods or services consumers are willing and able to buy. Supply is the amount of goods and services businesses are willing and able to provide at a certain price. Price responds to pressures of demand and supply. When demand exceeds supply, a shortage exists. A surplus exists when supply exceeds demand.

There is a circular flow of income within an economy. Consumers use their income to pay for goods and services. Businesses use their income to pay for the factors of production of natural resources, labour, capital and technology. There is also a circular flow of goods and services. Consumers sell their time and skills as labour. Some consumers also own natural resources and or invest in the capital of production.

Businesses use these factors of production to provide the goods and services demanded by consumers.

The interaction of demand and supply determines the prices of consumer goods and services. The market price is the point at which the supply and demand curves intersect. In this case, consumer demand for a product or service equals the willingness and ability of business to provide it. There is neither a shortage nor a surplus.

Competition is important for consumers because it keeps prices at their lowest possible level. Competition also permits consumers to make choices based on the quality, appearance, and utility of consumer goods.

How the economy grows

An economy must grow to provide people with an increasing standard of living – that is, more and better goods and services. In general, the faster a country's economy grows, the faster its standard of living rises.

Four main elements make it possible for nations to produce goods and services. These elements, called productive resources, are: (1) natural resources, (2) capital, (3) a labor force, and (4) technology. Economists define natural resources as all land and raw materials, such as minerals, water, and sunlight. Capital includes factories, tools, supplies, and equipment. The word capital also means the money that can be used to buy these items. Labour force means all people who work or are seeking work, and their education and skills. Technology refers to scientific and business research and inventions.

To grow, a nation's economy must add to its productive resources or improve the way it uses them. For example, an economy could grow if the nation used some of its resources to build factories, heavy equipment, and other capital goods. These capital goods could then help increase future production. In addition, a nation might train scientists, create new technologies, educate workers, or train business managers to direct future production. The knowledge of these people is known as human capital. New technology and improved human capital could increase productivity – that is, produce more units of goods or services for each unit of resources consumed in production.

The value of all goods and services produced within a country during a year makes up a nation's gross domestic product, or GDP. A nation measures its economic growth by the change in GDP over a period of years.

Task 4. Answer the questions how needs and wants are satisfied in the world of business:

1. What are four kinds of resources that an owner invests in a business?

2. What is the difference between profit and return on investment?

3. Why is accounting necessary for all businesses?

4. What are the factors of production? How are they used in satisfying the economic needs and wants of consumers?

5. What is the difference between investments and resources? Explain their importance in business.

6. What advantages does a competition offer to consumers?

Task 5. Make word-combinations. Match adjectives (or nouns) to nouns (A) and verbs to nouns (B):

Task 6. Define one different word or word combination:

NATURAL RESOURCES: land, minerals, water, wood, people.

CAPITAL: money, factory, tools, supplies, happiness, equipment.

LABOUR FORCE: student, engineer, employee, the unemployed, skills.

TECHNOLOGY: research, invention, know-how, contract, knowledge.

CAPITAL GOODS: heavy equipment, factory, land.

HUMAN CAPITAL : education, technology, training courses, updated skills.

Task 7. Match words in the box with their definitions:

1. … – A person specially trained to record, interpret, and evaluate financial information on the operation of business.

2. … – A need or want, especially for goods or services.

3. … – Something that must be done, completed, or paid according to a previous agreement.

4. … – You have it if you receive more money than you spend.

5. … – Something important.

6. … – An exchange of values.

7. … – Sum of money for which something is sold or bought.

8. … – The economic level at which a person, family or nation lives.

9. … – Money used or needed for something.

10. … – What a person does to earn a living; employment; something to be done.

11. … – Bodily or mental work; workers as a class.

12. … – Employment.

Task 8. Fill in prepositions where necessary:

Task 9. Find and correct one mistake in each sentence:

1. It was snowing when I get to the office.

2. She not see me as she was looking for something.

3. They waiting for me when I arrived.

4. I discussed the plan with my boss when the knock at the door interrupted us.

5. When I was going home, I read an article on harmful effects of smoking.

6. This thing were very expensive. It costs a lot.

7. Do you know the girl sat at the window?

8. Considered new figures, the Chief Accountant started a report.

9. The report wrote by the Chief Accountant was brief.

10. Have gaining much experience, Mr.Barnes became a valuable worker.

Task 10. Put the verbs in brackets in the correct form, Active or Passive:

Cashiers at Safeway supermarkets in the USA … (tell) last year they … (have) to smile and make eye contact with the customers. The store … (employ) “smile checkers” to check people … (be) friendly enough. If not, they … (have) to go to smile school. Female employees … (complain) that if they … (smile) too much at male customers, the customers … (think) the women … (eye) them up and … (keep) returning stinking after shave.

Task 11. Translate the sentences:

1. Згідно з новими правилами, ми мали змогу використовувати різноманітне обладнання.

2. Новий бухгалтер відповідає усім вимогам компанії.

3. Наші споживчі товари витримують конкуренцію на місцевому ринку вже більше п'яти років.

4. Кількість безробітних постійно збільшується.

5. Це була чесна угода. Ми впевнені, що річний доход обох фірм зросте на два проценти.

6. Він знав, що робітники цієї компанії добре заробляють. Компанія забезпечує своїм службовцям не тільки високу зарплату, але й відмінні умови для роботи.

7. Ти вже знайшов нову роботу? – Так. Та справа в тім, що ця робота потребує новітніх (updated skills of fluent PC usage) спеціальних знань та уміння вільно користатися комп'ютером. Вважаю, мені потрібно піти на курси підвищення кваліфікації (upgrading courses).

8. Вона не вміє зберігати секрети, але завжди тримає своє слово.

9. Клієнти цікавилися курсом обміну валют (currency exchange rate). Їм потрібно було поміняти 350 долларов.

10. Мені тільки що сказали ринкову вартість цього автомобіля.

11. Нам показали список товарів, що експортуються компанією.

12. У цій статті приведено багато цифр, що ілюструють розвиток мережі (network) автомобільних доріг в Україні.

13. Секретар відправила підписані директором листи годину тому.

14. На жаль, запропонований товар не відповідає всім нашим вимогам.

15. Ви знайдете всі подробиці у прикладеному (enclosed) журналі.

16. Завтра ми будемо випробувати машину, сконструйовану в студентському конструкторському бюро.

Task 12. Explain how a worker sells time to an employer and how the value of the worker's time is determined.

Task 13. When you enter the world of work, you become a seller. Make a list of the things you will sell. Compare your list with those of your fellow students. Which of you has most things to sell?

Task 14. Explain why profit is an important motivating factor in business. Discuss why you feel this is good or bad. Sometimes you will need conjunctions like however… though…, etc.

Task 15. Some basic career-related rules are too important to ignore. Explain how you understand the following:

ü Ideas are like rabbits. You get a couple of them and learn how to handle them, and pretty soon you have a dozen. – John Steinbeck.

ü Business is made up of ambiguous victories and nebulous defeats. Claim them all victories.

ü The most successful people in business are interesting.

ü Long hours don't mean anything; results count, not effort.

ü Understand what finished work looks like and deliver your work only when it is finished.

ü The person who spends all of his or her time at work is not hardworking; he or she is boring.

ü Always have an answer to the question ”What would I do if I lost my job tomorrow?” – Richard A. Moran.

Text 4 B

1. Look through the text and explain why it is so important to manage time:

Saving your time

Time is one of your most valuable but limited human resources. Time management is a process that helps you use them to your best advantage by planning what you want to do, analyzing how you presently use time, and setting priorities. It helps you get more done, with better results, in less time.

When you plan in advance what needs to be done to complete a task, you are able to accomplish the task in less time with less effort. People who do not plan because they "don't have time" are failing to see the significant long – range savings in time as well as the improved performance that usually results from prior planning.

Crawford Greenwalt, former president of Du Pont, once said that the top workers at the company are those who first plan what they are going to do and how they are going to do it, and then they follow their plans step by step to complete the activity. Research studies have proven that when more time is used for planning, less time is needed for completing the assignment.

Planning is setting short-range and long-range goals. A "Things-to-Do" list helps you identify your goals. A time log, kept for several days, helps you analyze how you presently use your time. Carefully study your time logs. You will be able to identify several time blocks each day that were either wasted or poorly used. We all have them. Make a list of several things you could have done during that time. If you save just one hour each day or 365 hours each year, you will have an extra two and a half weeks a year. Think what you would be able to do with that much extra time in your life. Labeling activities as "must do," "delegate," "should do," or "nice to do" shows which tasks are most important.

Fig. 4.2. THINGS-TO-DO LIST

When you set priorities, you first of all identify which items on your list are of greatest importance or value for you. The highest value items should be completed before items of low value. Second, you estimate the amount of time that will be needed to complete the task. This helps you to organize your time more efficiently. Setting priorities helps you to organize your work, budget your efficiency. Using a "Things-to-Do" list helps you to quickly and easily label each task on your list, as shown in Figure 4.2.

Once you have determined the priority in which your tasks should be completed, you need to develop a schedule.

A schedule is a plan for how you will use your time during the day. It organizes brief time periods such as bus rides or idle waiting to be used effectively rather than wasted.

Techniques of saving time include:

1) rank and complete tasks in the order of importance;

2) concentrate on doing one activity at time;

3) plan difficult or creative tasks to be done when your energy level is at its peak;

4) estimate the time required, develop a time line, and set a deadline for each task;

5) anticipate and plan for busy periods in your schedule;

6) strive for excellence, not perfection;

7) take breaks to relax your mind and muscles;

8) plan for leisure and recreation activities;

9) don't intentionally put off doing.

Lack of planning and organization is our greatest time-waster. Everyone is guilty of wasting some time. It may be only a few minutes at a time, but each of those few minutes add up to hours, days, weeks that are wasted. Often we waste our time on doing activities that are unimportant and provide us with few, if any, benefits.

To help you eliminate low-value tasks, consider the 80/20 rule. It says, "If all items are arranged in order of value, 80 percent of the value would come from only 20 percent of the items, while the remaining 20 percent of the value would come from 80 percent of the items". The examples are:

• 80% of your telephone calls come from 20% of your callers.

• 80% of a business's sales come from 20% of their customers.

• 80% of the dirt is on 20% of the floor area that is most often used.

Other timewasters include disruptions, telephone calls, unexpected visitors, and doing low-value activities. The important thing for you to remember is not to waste your time on the low-value activities that produce few benefits. Focus your time and energy instead on the 20 percent of your activities that are high value and produce 80 percent of the benefits. Saving just one hour a day gives you an extra two and one-half weeks a year.

Time is one of your most important and valuable resources. When you enter the world of work, you sell your time to an employer. Your time helps determine the level of income you will earn, and your income influences the lifestyle you will achieve.

Supplementary vocabulary:

2. List and explain time-savers. Using an example, show how planning saves time.

3. List and explain time-wasters. Choose any of them and explain how it robs you of valuable time.

4. If you had two extra hours each day, how would you use them? List in priority order what you would do with those extra two hours. Begin with: If I had two extra hours each day, I would (do)……(what?)

5. A. Look at the timeline. Write sentences describing what John Smith will have done or won't have done by the year 2010 according to his plan:

Enter buy get graduate move to start his buy

College a car married from college New York own business a house

___|______|______|________|___,_______|__________|_______|__

Now 2010 Future

B. Think of your future and draw a timeline for yourself. What will you have done or won't have done by the year 2020 according to your plan? What kind of job would you like to have:

a) immediately after graduation?

b) in 2-3 years?

c) in 10 years?

d) before you retire?

TEXT 4 C

1. Skim the text and explain why the key skills required by employers are so important:

GAIN A WEALTH OF EXPERIENCE

Degrees are no longer enough — employers are looking for skills in the workplace

Today, one in three young people enters higher education and a degree is fast becoming the minimum qualification for any white-collar job. This is not to suggest that the value of a degree has diminished. We now live in a far more complex world and most jobs today require a much higher level of intellectual skills than ever before. Graduates not only continue to enjoy higher pay and lower unemployment than non-graduates, but most employers will tell you that there is still a shortage of good graduates.

So what do employers look for in graduate recruits? Cer­tainly, they want intellectual skills acquired in taking a de­gree. These include the ability to collect and analyze informa­tion, to acquire special knowledge, to solve problems, and to communicate dearly. In the past this was enough. When graduates were a small elite, employers could afford to invest in extended training programmes lasting between one and two years.

Most graduate recruits today are expected to make an immediate contribution to the organization. This means that they need more than their academic qualifications. Employers look for a range of ge­neric vocational skills which are useful in almost all types of work; they are usually known as "key skills".

Six key skills are approved by the Qualifications and Cur­riculum Authority (QCA) for incorporation into many vo­cational education and training programmes. These key skills are communication, using and presenting numerical data, information technology, team-working, improving your own learning and performance, and problem solving. Graduate employers certainly hope to find all of these, but they also look for some additional qualities such as adaptability and commercial awareness. Above all, they want recruits to have already had some practical experience of applying them.

Certainly, all students should have some "quality work experience" before they complete their full-time education. However, not enough employers offer suitable vacancies to provide this. Ideally, you would get vacation or part-time work relevant to your area of study so that you could start to apply theory to the world of work. But many students end up serving in retail shops, bars and fast-food outlets, or waiting in restau­rants. The money is certainly useful, but does menial work provide opportunities for useful learning and help your career prospects? It does.

Even in the most menial jobs you can analyze everything you see and do and what your colleagues at all levels arc do­ing. You can try and work out why things are organized in the way they are and why people act in the way they do. What do you find motivates the customers of your business – and annoys them? Are there health and safety implica­tions in the way things are done? The job can be used as a learning opportunity so you can tell future recruiters what skills and understanding you have gained.

Few people will find a lifetime employer. They will move between employers to gain greater expertise and experience. Many will be offered short-term contracts, others will be of­fered work as consultants on a self-employed basis. Gradu­ates face more flexible though less certain futures. In going to university it is important to recognize that the future will be very different from the past, that you must learn to adapt and that you can and should learn from every experience of student life.

2. Think and choose which skills are vital for your career in business? For ideas:

3. Think and explain what you SHOULD, MUST and CAN do to make your career.

4. Write a page of an essay to explain how your education will help you achieve your long-range goals.

HOME READING

TEXT 4 D

1. The sentences have been removed from the text. Read Text 4D and decide in which numbered gap each one should go. (There is one extra sentence, which you do not need to use).

A. Legend has it that the architecture of the Crown Victoria was actually planned by Queen Victoria herself.

B. From 1908 to 1927, more than half the cars sold in the United States were Fords.

C. Ford devoted much time and money to educational and charitable projects

D. But Ford soon began working to make a simple car that many people could afford.

E. To lower the price, Ford and his executives created an assembly line method in which conveyor belts brought automobile parts to workers.

F. He also opposed labor unions.

G. To encourage productivity, Ford introduced a profit-sharing plan, which set aside part of the company's profits for its employees.

H. The Ford Motor Company began to produce its own parts.

I. In 1915, during World War I, he and about 170 other people travelled to Europe at his expense to seek peace.

J. Parts cost less to ship than whole automobiles did.

HENRY FORD

Henry Ford (1863-1947), was the leading manufacturer of American automobiles in the early 1900's. He established the Ford Motor Company, which revolutionized the automobile industry with its assembly line method of production. The savings from this technique helped Ford sell automobiles at a lower price than anyone had before. 1)__________________________________

Early life. Ford was born on a farm in what is now Dearborn, Mich. He became a machinist at the age of 16 and later worked as an engineer at a Detroit electric company. As a young man, Ford became interested in automobiles. He built his first successful gasoline engine in 1893 and his first automobile in 1896.

Industrial accomplishments. In 1903, Ford organized the Ford Motor Company. At first, the company produced only expensive cars, as its competitors did. 2) _______________ He achieved one of the first such cars with the Model T, which appeared in 1908. In 1909, Ford decided to produce only Model Ts.

The original price of $850 for a model "T" touring car was too high for many customers. 3) _____________________________________. Each worker performed a particular task, such as adding or tightening a part. This system helped reduce the assembly time of a Ford automobile from about 12.5 worker-hours in 1912 to about 1.5 worker-hours in 1914.

4)___________________________________________________ instead of buying from independent suppliers at a higher price. Ford also shipped automobile parts, rather than assembled automobiles, to market areas, where assembly plants put the parts together.

5)_________________________________________________ In addition, the company began to make its own glass and steel.

As the company's production costs fell, Ford passed much of the savings on to his customers. The price of a Model T touring car dropped to $550 in 1913, $440 in 1915, $290 in 1924, putting the automobile within reach of the average family.

In 1914, Ford raised the minimum wages to $5 a day for his employees 22 years of age and over. This rate was more than twice what most wages earners received. Ford also reduced the workday from 9 to 8 hours. To encourage productivity, Ford introduced a profit-sharing plan, which set aside part of the company's profits for its employees.

During the mid-1920's, Ford continued to produce the Model T even though its popularity had declined. He also continued to offer only basic transportation at a low cost. The Model T changed little from year to year, and until 1926 it came only one color, black.

Ford finally introduced a new design, the model A, in 1927, after more than 15 million Model Ts had been sold. In 1932, Ford introduced the first low-priced car with a V-8 engine, a power engine that had eight cylinders arranged in V. Ford Motor declined throughout the 1930's, and some people began to question Henry Ford's management skills. In 1945, Henry Ford II, one of Ford's grandsons, took over the company.

Political and charitable activities. Ford had taken an interest in political affairs. 6) __________________________________________ The group, which lacked approval by the US government, failed to persuade the warring nations to settle their differences.

In 1918, the year the war ended, Ford ran as a Democrat for a Senate seat from Michigan. He lost the election and did not seek public office again, but he continued to speak out on political issues. He made many statements critical of Jews. 7).___________________________.

8)___________________________________________________. He established Greenfield Village and the Henry Ford Museum, both in Dearborn. The village is a group of restored historical buildings. The museum includes exhibits in science, industry, and art. In 1936, Ford and his son, Edsel, set up the Ford Foundation, the world's largest foundation, which gives grants for education, research and development.

Ford wrote four books with author Samuel Crowther. They are My Life and Work (1922), Today and Tomorrow (1926), Edison As I Know Him (1930), and Moving Forward (1931).

2. List these events in order of their occurrence. Then use them as a plan to speak on:

a) Henry Ford's industrial accomplishments;

b) his political and charitable activities.

ü __He had a job of an engineer at an electric company.

ü __The model A was put into production.

ü __The Ford Motor Company started the production of its own parts.

ü __He built his first automobile.

ü __The wages were raised and the working hours were reduced.

ü __The company produced expensive cars.

ü __A Ford's grandson took over the company.

ü __The company's production costs decreased.

ü __He became interested in automobiles.

ü __Ford travelled to Europe with a peace-making mission.

ü __He organised the Ford Motor Company.

ü __The Ford Motor Company revolutionised the automobile industry with its assembly line method of production.

3. If you could have asked Mr. Ford only three questions, what would you have asked?

ADDITIONAL READING

CURIOUS FACTS & FIGURES

Wall Street

Wall Street, the financial keystone of the country, takes its name from the wooden wall built by the Dutch burghers in 1653 to protect their colony against “the wilderness” to the north. The Street is sometimes compared with a canyon. On a nice day you can see blue sky in between the tall buildings, but you'll notice that most of the dark-suited men and women hurrying by have no interest in admiring the scenery, unless it includes a stock quota.

World Financial Center

Four handsome granite and glass towers of World Financial Center designed by architect Cesar Pelli are located in Lower Manhattan, New York. This business and commercial center houses the corporate headquarters for many international financial firms and employ nearly 30,000. It also provides over 200,000 square feet of specialty shops, restaurants, and cafes. The highlight is the Winter Garden, a magnificent glass structure complete with towering palm trees.

The Bank of England

In Threadneedle Street in London there is a large building with a massive front and blocked windows – The Old Lady of Threadneedle Street. The Old lady is the nickname given by Londoners to the Bank of England.But the Bank of England is not a bank in the ordinary sense of the word because it does not transact business. It's the place where orders for bank – notes and coins are issued and also part of the Ministry of Finance. It regulates the amount of gold for import and export.

The center of the financial world is Throgmorton Street with the Stock Exchange (Фондова Біржа) and all the main banks.

Surprising Money

Have you ever heard of “coins” so heavy that it takes several men to carry them? It's too surprising but you'll find such coins on the East Pacific Islands. They are made of stones with the hole in the center. The natives still use them as money.

These coins are probably the heaviest and the biggest known. The lightest and the smallest were the gold coins used in Southern India at the beginning of the last century. They were pinhead size (розміром з шпильковою головки).

Switzerland

As everybody knows, the Swiss want everything in Switzerland to be sportlessly clean – the dollhouse towns, the snowy mountains, and the sparkling lakes.

And the money. All the bank notes seem to have that crackling, crisp, justprinted look and feel. How do the Swiss keep their money from getting tired looking? Bills are yanked from circulation before a tear can besmirch them. As many as one third of Swiss bank notes are replaced each year, at a cost of more than 20 million francs, or $18 million.

Why bother? Image is one reason. “The first thing you see when you arrive in a country is the money,” says Roland Tirnare, chief cashier of the Swiss national Bank. “It's like a national identity.”

Fooling the experts

Britain has the longest usual working week in the European Union – 43.4 hours, figures from Eurostat. The usual working time during a week is defined as all hours normally worked by an employee including overtime whether paid or not.

British men work longest of all by far – 45.1 hours a week – 2.3 hours ahead of the Portuguese who are second. British women are the only ones who do more than 40 hours.

Listening comprehension

1. Choose the correct statement:

1. A blonde and a lawyer sat next to each other:

a) in a bank

b) in an airplane

c) in a computer center.

2. The lawyer offered:

a) to dine out

b) to send an e-mail to a friend of his

c) to play a game.

3. The blonde agreed because:

a) she loved money

b) the game was easy and a lot of fun

c) she didn't know what to do during the flight.

4. The lawyer:

a) knew the answer to the blonde's puzzle beforehand;

b) found the answer in his laptop;

c) failed to answer the blonde's puzzle.

JOKES and ANECDOTES

* * *

Boss – “You are twenty minutes late again. Don't you know what time we start work at this office?

New Employee – “No, sir, they are always at it when I get here”.

* * *

A certain firm had the following legend on its receipt forms:

“Your salary is your personal business, and should not be disclosed to anyone.”

The new employee, when signing the receipt, added: “I won't mention it to anybody. I'm just as much ashamed of it as you are.”

* * *

An American newspaper, giving the biography of a United States millionaire, stated that “he was born without a cent in his pocket”.

* * *

"What is your chief worry?"

"Money."

"Oh, I didn't know you had any!"

"I haven't."

* * *

Employee – "Sir, can you let me off tomorrow afternoon to go Christmas shopping with my wife?"

Employer – "Certainly not! We are too busy!"

Employee (much relieved) – Thank you, sir, you are very kind!"