Demand and Supply

Demand is the quantity of a good that buyers wish to buy at certain price. Other things equal*, at low prices the demanded quantity is higher.

Supply is the quantity of a good that sellers wish to sell at certain price. Other things equal, when prices are high, the supplied quantity is high as well.

The market is in equilibrium when the price regulates the quantity supplied by producers and the quantity demanded by consumers. When prices are not so high as the equilibrium price, there is excess demand (shortage) raising the price. At prices above the equilibrium price, there is excess supply (surplus) reducing the price.

There are some factors influencing demand for a good, such as the prices of other goods, consumer incomes and some others.

An increase in the price of a substitute good (or a decrease in the price of a complement good) will at the same time raise the demanded quantity. As consumer income is increased, demand for normal goods will also increase but demand for inferior goods will decrease. A normal good is a good for which demand increases when incomes rise. An inferior good is a good for which demand falls when incomes rise.

As to supply, some factors are assumed³ as constant. Among them are technology, the input price, as well as degree of government regulation. An improvement in technology is as important for increasing the supplied quantity of a good as a reduction in input prices.

Government regulates demand and supply, imposing ceiling prices (maximum prices) and floor prices (minimum prices) and adding its own demand to the demand of the private sector.

Задание 7. Вставьте подходящее слово и переведите предложения письменно.

1. The fashion for mini-skirt (increased/reduced) the demand for textile materials.

2. Even in (some/the same) middle-income countries many people are very poor.

3. Government regulations sometimes (decrease/impose) a change in (technology/quantity) that producers do not want to use.

4. Stabilization of prices is of great importance to industrial nations (as we// as /as well) the Third World countries.

5. Freeing up (освобождение) prices leads to their (decrease/increase).

6. (Inferior/ Normal) goods are usually low-quality goods for which there are higher-quality (improvements/substitutes) sold at higher prices.

7. A decrease in (complement/ input) prices makes the production less expensive.

Задание 8. Подберите к словам в левой колонке определения.

1. private a) money received regularly from wages

2. statistics b) a detailed examination of something

3. analysis c) the office or business of an agent

4. finance d) demand for things; trade

5. market e) belonging to a particular person or group

6. politician f) the use or management of money

7. influence g) a person who is qualified to give expert advice

8. income h) a person who is involved in politics

9. consultant i) the study of information based on the numbers of things

10. agency j) the power to produce an effect

– GRAMMAR

Внимание!

Перед выполнением заданий 9, 10, 11 изучите раздел грамматики на стр.121-128 пособия.

Задание 9. Переведите на русский язык, обращая внимание на разные формы герундия.

1. Watching football matches may be exciting enough, but of course it is more exciting playing football. 2. She stopped coming to see us, and I wondered what had happened to her. 3. Can you remember having seen the man before? 4. She was terrified of having to speak to anybody, and even more, of being spoken to. 5. He was on the point of leaving the club, as the porter stopped him. 6. After being corrected by the teacher, the students' papers were returned to them. 7. I wondered at my mother's having allowed the journey. 8. I understand perfectly your wishing to start the work at once. 9. Everybody will discuss the event, there is no preventing it. 10. At last he broke the silence by inviting everybody to walk into the din­ing-room. 11. On being told the news she turned pale. 12. The place is worth visiting. 12. I avoided speaking to them about that matter.13. She burst out crying. 14. They burst out laughing. 15. She denied having been at home that evening. 16. He enjoyed talking of the pleasures of travelling. 17. Excuse my leaving you at such a moment. 18. Please forgive my interfering. 19. He gave up smoking a few years ago. 20. They went on talking. 21. He keeps insisting on my going to the south. 22. Oh please do stop laughing at him. 23. Do you mind my asking you a difficult question? 24. Would you mind coming again in a day or two? 14. I don't mind wearing this dress. 25. She could not help smiling. 16. I cannot put off doing this translation. 26. Though David was tired, he went on walking in the direction of Dover.

Задание 10. Раскройте скобки, употребляя требующуюся форму инфинитива.

1. Не seems (to read) a lot. 2. Не seems (to read) now. 3. He seems (to read) since morning. 4. He seems (to read) all the books in the library. 5. I want (to take) you to the concert. 6.1 want (to take) to the concert by my father. 7. She hoped (to help) her Mends. 6. She hoped (to help) by her friends. 9. I hope (to see) you soon. 10. We expect (to be) back in two days. 11. He expected (to help) by the teacher. 12. The children seem (to play) since morning. 13. I am glad (to do) all the homework yesterday. 14. She seems (to work) at this problem ever since she came here. 15 I am sorry (to break) your pen.

Задание 11. Раскройте скобки, употребляя Present Participle или Perfect Participle.

1. (to do) his homework, he was thinking hard. 2. (to do) his homework, he went for a walk. 3 (to sell) fruit, he looked back from time to time, hop­ing to see his friends. 4. (to sell) all the fruit, he went to see. his friends. 5. (to eat) all the potatoes, she drank a cup of tea. 6. (to drink) tea, she scalded her lips. 7. (to run) in the yard, I fell and hurt my knee. 8. (to look) through some magazines, I came across an interesting article about UFOs. 9. (to write) out and (to learn) all the new words, he was able to translate the text easily. 10. (to live) in the south of our country, he cannot enjoy the beauty of St. Petersburg's White Nights in summer. 11. (to talk) to her neighbour in the street, she did not notice how a thief stole her money. 12. (to read) the story, she closed the book and put it on the shelf. 13. (to buy) some juice and cakes, we went home. 14. (to sit) near the fire, he felt very warm.

Задание 12. Прочтите и переведите текст; опираясь на текст, напишите собственный аудиторский отчет по финансовому состоянию какого либо предприятия по вашему выбору (можно вымышленного).

Board of Directors, Stockholders, Owners, and/or Management of

ABC Company, Inc.

123 Main St.

Anytown, Any Country

We have audited the accompanying balance sheet of ABC Company, Inc. (the “Company”) as of December 31, 20XX and the related statements of income and cash flows for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in (the country where the report is issued). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 20XX, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in (the country where the report is issued).

AUDITOR’S SIGNATURE

Auditor’s name and address

Date

Задание 13. Напишите аннотацию к тексту (не более 500 знаков).

Дата добавления: 2014-10-15