Open the brackets using the verbs in the Present Continuous or Past Continuous Tense

Fill in the blanks with the Vocabulary on the text.

Insert prepositions.

Grammar exercises

Answer the questions on the text.

Notes on the text

to change hands – переходить из рук в руки

holding other things equal – при прочих постоянных условиях

in a cardinal term – в количественном значении

ordinal characteristics – качественные характеристики

1. Agree or disagree. Correct wrong statements.

1. Supply is the seller’s side of a market transaction.

2. Suppliers usually want the price that allows them to make the most money.

3. Demand is the quantity of a product that suppliers will provide.

4. The market supply curve indicates the combined sales intentions of all market participants.

5. The lower the price, the greater the incentive to produce and sell the product.

6. Supply and demand are the two sides of each market transaction.

1. What is demand?

2. What does the law of demand refer to?

3. Who drew the first demand curve and what is its meaning?

4. What is supply?

5. What does the law of supply state?

6. Why does supply increase when price rises?

7. What affects the market price?

8. What is equilibrium price?

1. Market prices are determined … the interaction … supply and demand.

2. Companies’ pricing decisions depend … production and distribution costs, the level of demand.

3. Supply is the quantity … a good sellers wish to sell … each conceivable price.

4. Demand is influenced … our income, the prices … substitutes and so on.

5. Demand is the buyer’s side … market transaction.

6. The higher the price … something, the more … it will be offered … sale – and vice versa.

7. The market supply curve is the sum … all the individuals decisions … how much to produce … any given price.

8. The law of demand says that all else being equal, more items will be sold … a lower price than … a higher price.

9. When everything else is held constant, an increase … demand will result … an increase … market price.

1. The seller’s side of each transaction is called ….

2. The buyer’s side of each transaction is called ….

3. … is the concept that as the price decreases, the quantity sold increases.

4. A graph that shows the amounts consumers are willing to buy is a ….

5. Those people who sell goods are ….

6. The quantity of a product that suppliers will provide is ….

7. The quantity of a product consumers want is ….

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

9. A person who buys different goods is ….

10. Amount, sum or number is ….

11. The rule made by authority for the regulation of a community or society or for correct conduct in life is ….

Prompts: demand, supply, law, sellers, quantity, consumer, price, law of demand, supply, demand curve, demand.

1. She won’t go with us. She (to calculate) the expenditures.

2. We (to choose) new machinery at this time yesterday.

3. Be quiet, workers (to apply) new technological methods now.

4. Students (to prepare) their home-work at the moment.

5. Our new specialist is fond of reading scientific books. He (to read) the whole evening yesterday and even now she (to read) too.

6. When I left the supermarket, the sun (not to shine) and the sky (to darken).

7. At 6 p.m. I (to discuss) this problem with the economists.

8. She (to go) to the Institute now?

Дата добавления: 2017-01-14