1. consumers are willing to buy at different prices

2. consumers actually buy at a particular price

3. Consumers are hesitating to buy

4 Английский языклля экономистов

4. Demand is concerned with .

1. producer's side of the market

2. the buying side of the market

3. production decisions

4. The average total costs of production are .

1. the sum of the average fixed costs and the marginal costs

2. the sum of the average variable costs and the marginal costs

3. the sum of the average fixed costs and the average variable costs

Unit 4. DISCUSSION

14* Read the following text and pick out the expressions in bold type to fill in the Useful Language box below, con­taining six sections for six language functions.

Robotics and technological change

American Robot is one of the leading manufacturers of robots in the United States, founded by Romesh Wadhwani in the early 1980s. American Robot employed only 25 workers in 1982, Five years later the young company's work force had grown to 250, and in spite of severe competition its sales had

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increased from $3 million to $20 million.

Wadhwani, an immigrant born in Bombay, India, assessed the potential market for robotics in the US. At that time the competition was strong as there existed many robotic compa­nies, most of them Japanese firms. However, relatively few industrial contracts were available.

Meanwhile Wadhwani also recognized that American Robot would have to overcome two obstacles to succeed in this highly competitive market. First, the company had to secure enough capital because it needed to finance an aggressive marketing campaign. Second, the company needed to finance the research and development of a product so that it could be distinguishable from and superior to existing robots on the market.

In the first place Wadhwani secured financial backing from corporate giants such as Ford and BMW (Bavarian Motor Works). The money invested in these firms is called venture capital. Large companies often take a risk in promis-• ing new business in order to benefit directly from the techno­logical breakthroughs made by the new company as the investors expect a high return of the investment in return for their money.

The next year the major attraction of American Robot a "second-phase" robotic system came into the market. Second-phased robotics is a computer-integrated manufacturing (CIM) system, what is more it involves the total automation of a factory, including administrative tasks.

By the mid-1980s American Robot's CIM system, dubbed Merlin, has captured the imagination of major businesses worldwide. To begin with Merlins were the only American robots being marketed in Japan. In addition major European automotive producers, such as Volkswagen and BMW, were using Merlin to monitor different aspects of auto production. Finally Merlins were being used by 40 of the world's top 100 corporations.

Useful Language

Expressing time 1.	Introducing points 1.
2. At that time 3. 4.	2. 3. In the first place 4.
5.	5.
Developing the idea 1. what is more 2.	Expressing contrast 1. 2. however
Expressing purpose 1- 2.so that + could	Expressing reason 1. because 2.

15 Read what famous people said about price. Make up a story to confirm or to deny the statements made in the quotations below. Use the expressions from the Useful language box.

1. Anybody can cut prices, but it takes brains to produce a better article.

P. D. Armour

2. People want economy and they'll pay almost any price to get it.

Lee Iacocca (1924-), American businessman

3. Cheat me in the price, but not in the goods.

English Proverb

4. Quality is remembered long after the price is forgotten.

Gucci Family Slogan

|6 Read what famous people said about demand and supply. Make up a story to confirm or to deny the statements made in the quotations below. Use the expressions from the Useful Language box.

1. Supply always comes on the heels of demand.

Robert Collier, American writer, publisher

2. Look through your customer's eyes. Are you the solu­tion provider or part of the problem?

Marlene Blaszczyk

3. Everything starts with the customer.

Louis V. Gerstner Jr., American business executive

4. A satisfied customer is the best business strategy of all.

Michael LeBoeuf, American Researcher

Chapter SIX

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^{Unit 1 READING AND TRANSLATION PRACTICE}