III. Fill the gaps with a suitable word or phrase.

Date: 2015-10-07; view: 394.

II. Match the words with their definitions.

1 consumer

2 out-of-season sales

3 closing down

4 value

5 income

6 cut-backs

7 to lay off

8 recession

9 high street sales

10 reluctance

a beyond or out of the proper time of the usual or appointed time

b a person who uses goods or services

c an amount, as of goods, services, or money, considered to be a fair and suitable equivalent for something else; a fair price or return

d a closure or stoppage of operations

e to reduce or decrease

f the amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as profit from financial investments

g to terminate the employment

h the market constituted by the general public

i an extended decline in general business activity, typically two consecutive quarters of falling real gross national product

j lack of eagerness or willingness

out-of-season sales, occupied , production levels , loss of income ,high street sales, market forces ,manufacturer ,recessions, closing down, recession ,consumer, figures ,job losses,economic, cut-backs, short-term solution, laying off, depress prices.

1 In a recession, any rise in …………….is quoted by government ministers as evidence of the increase in ……………….confidence that is the first step on the road back to ……….. growth.

2 At times of falling sales, high street shops are forced to reduce prices – with……………….., special offers and even "………….." sales.

3 In …………..come job losses, with ……………comes an increased reluctance to spend; it is expensive luxuries such as videos that are the first items to be cut from household budgets.

4 Falling sales lead to production…………..

5 Although, for a……………., cutting back on the workforce is a relatively simple…………….., it is not necessarily the best long-term strategy.

6 Manufacturers, therefore, tend to wait longer before …................any staff than they would do if they were obeying……………..

7 To keep these workers fully………….., companies may have to …………..artificially to a point lower than that demanded by prevailing market forces, merely in order to maintain…………………..

8 It is almost certainly true, therefore, that there are forces at work at the time that an economy is entering a ………………that distort the real value of sales figures.

9 Sales ………..are often used as evidence of the general health of the economy.

10 People feel the need to save against the possible future…………………….

IV. Answer the following questions:

1 What purpose are sales figures used for?

2What shops are forced to reduce prices with out-of-season sales?

3Which goods are the ones that are most frequently discounted in times of recession?

4 What is the result of falling sales?

5 What types of job are enumerated in the text?

6Who tends to wait longer before laying off any staff?

7When did the competition for scarce labour have the same distorting effect?

8 Where can you find the advertisements for special offers on consumer durables?

9 Is the consumer's fear of his or her personal future important ?

10What do companies have to do to keep workers fully occupied?

V. Discussion Points:

Work with a partner to discuss the following questions:

1. Retailing is the fastest growing industry. What are the factors which can lead you to success?

2. What are the ways of maintaining customer satisfaction and profitability?

3. How to exercise a control over inventory?

4. How to create and manage schemes and promotions?

5. What are the various market structures for retail competition?

6. What are the forms of nonstore retailing in Russia?

7. Whose business is going to grow faster in Russia – that of online shops or traditional retailers?