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4. Translate the words in brackets into English. Use the following words.

Reduce, rise, increase, fall, decrease, reduction

1. The population of the world (увеличивается).

2. An inflation is characterized by the (повышение) in prices within a certain period of time.

3. They (снизили) prices by 10%.

4. The demand for ice cream usually (падает) in winter.

5. The prices for electronic goods (упали).

6. A small (сокращение) in production did not affect greatly the supply of the product.

7. Prices continue (расти).

8. The price for wheat (снизилась) by 5 %.

Grammar in Use Past Simple – Present Perfect

5. Look and learn.

Past Simple

is used

Present Perfect

is used

when the time period HAS finished

I saw three movies last week.

when the time period has NOT finished

I have seen three movies this week.

when giving older information

Martin crashed his car last year.

when giving recent news

Martin has crashed his car again.

when the time is clear

I saw that movie on Thursday.

when the time is not specific

I have seen that movie already.

6. Put the words in brackets into the correct tense.

1. Last year there (be) an increase in the amount of goods produced.

2. The economist already (calculate) the total amount of the expenditure.

3. They (plan) the budget this week.

4. What profit you (earn) last year?

5. The company (produce) more than expected this year.

6. I think I (do) a good project.

7. Interest rates (change) last week.

8. The government (increase) income tax lately.

9. The company always (pay) close attention to the environment.

10. As a result of the company’s heavy investment in research and technology, it (develop) many successful products.

7. Translate into English.

1. Я не знаю, почему спрос на этот товар упал.

2. Наша компания уже увеличила объемы производства.

3. Вчера я проверил все расчеты.

4.Современные технологии помогли улучшить качество нашей продукции, и спрос на нее резко увеличился.

5. Он управлял это фирмой два года.

6. Когда ты последний раз был за границей?

7. В прошлом месяце они провели ряд исследований.

8. Какое количество товара они поставили на этой неделе?

9. Компания снизила цены на свою продукцию на 10% в прошлом месяце.

10. Банки увеличили процентную ставку по вкладам в этом году.

Speaking Task

8. Work in pairs. Study the schemes below. Be ready to speak on the topic Demand and Supply. Discuss with your partner why it is important to know basic economic terms.

Demand

Is the want or willingness of consumers to buy goods or services

↓ ↓

extension of demand contraction of demand

↓ ↓

increase in demand due decrease in demand with

to increase in price the rise in price

Shift in demand

↓ ↓ ↓

increase in demand fall in demand causes

(consumers demand more (consumers demand less - people’s income

at each and every price) at each and every price) - change in population

- change in price

- change in fashion and taste - affect of advertising

- change in income tax

Supply

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