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III. Answer the following questions.
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1. What function does advertising serve in the eyes of many economists? 2. What is the economic effect of spurring demand for products by means of advertising? 3. How does advertising help the public? 4. What do the manufacturers and stores tell the public with the help of advertising? 5. Where and how often do advertisements appear? 6. How do many advertisements reach the public? 7. How are advertising companies called? 8. What is the role of marketing research in advertising? 9. Whom does the great business of merchandising employ for advertising? 10. What is the difference in salaries of those employed in advertising? 11. What is the reverse side of advertising? 12. What are the ways to protect the consumer against false or harmful advertising? 13. Should people always rely on advertisements? 14. What's your opinion on advertising in your country?
IV. Translate the following sentences into English.
1. Реклама используется как фирмами для увеличения объема продаж и ознакомления потребителей с новыми товарами, так и населением с целью продажи подержанных вещей. 2. Реклама информирует об имеющихся в продаже товарах, что помогает потребителям сделать разумный выбор. 3. Рекламные агентства проводят исследование рынка, создают рекламу и размещают ее в газетах и журналах. 4. Реклама стимулирует конкуренцию между фирмами, что может привести к более низким ценам и лучшему качеству товаров. 5. Используя рекламу и привлекательную упаковку, продавцы стараются развивать у потребителей устойчивые покупательские привычки. 6. Посредством рекламы потребители получают информацию о новых товарах и их качестве. 7. Распространение рекламного материала проведено за счёт продавца.
V. Read and translate the following texts a dictionary.
Advertising through mass media
Advertising refers to the use of various media to inform the public of a business, product or service offered. Advertising serves several purposes, but it is mainly designed to increase sales. Because of the power and expense of advertising, care should be used in the planning of its activities.
The media available for advertising are diverse and vary in effectiveness and cost: shopping publications, bulletins, skywriting, kites and balloons, samples and demonstrations, catalogs, etc. Advertising through mass media is the most popular nowadays.
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Several ranges of advertising exist, such as national retail, mail order, trade and industrial, and professional. Advertising should be planned according to the habits and tastes of the customer.
National advertising is that type of advertising which covers large areas. It is usually used by manufacturers and chain stores making use of mass media such as television and large circulation magazines.
Retail advertising is the most familiar type for the small business because this type may best serve its needs. The most frequently used medium for retail advertising is the local newspaper. It is relatively inexpensive for the market it reaches and can be controlled easily by the owner. Many consumers read the newspapers to plan their shopping.
They also may use leaflets, handbills, direct mail, or supplementary media. Many retailers also find radio an effective advertising medium.
For large stores and manufactures, television can supplement newspapers as a retail advertising medium.
Several points should be considered in planning advertising. A business owner should know how much advertising costs. Items of advertising must be chosen carefully. The product should be shown in sufficient detail to arouse interest and attract the customer. Ads should be timely: seasons, weather, holidays, parades, conventions and paydays should all be highlighted.
Good advertising policies result in increased patronage and greater sales.
Advertising chewing gum
One of the things which most visitors to the United States notice at once is the custom of chewing gum. Almost everyone in the United States today chews gum, and more than 140 000 000 dollars worth of chewing gum is sold every year. This means that, on the average, each person in the United States spends a dollar a year for chewing gum, and chews during the year more than a hundred pieces of «stick».
Chewing gum became popular in the United States mainly because of the work of one man, William Wrigley, who for many years was head of the Wrigley Company. When William Wrigley entered the business in about 1890 people everywhere began to learn about chewing gum and to use it widely.
Wrigley liked to do things in a large way. In his first year he borrowed money and spent more than a million dollars on advertising. In every street-bar in the United States for years and years, there was a large advertisement telling all about Wrigley's chewing gum. People complained that they couldn't go anywhere without seeing Wrigley's name. Several times Wrigley sent, free of charge, pieces of gum to every person in the telephone book of every city and town in the United States. Finally, he began to advertise that it was good for the health to chew gum, that it calmed the nerves, that it helped to keep the teeth clean.
He used to send gum to every child in the United States on its second birthday. He employed pretty young girls who in loud, striped, orange-colored dresses used to go from city to city in groups of four or five, stand on street corners, and gave free samples of chewing gum to every person who passed by. Each girl gave free in this way about 5 000 sticks of Wrigley's gum each day. As a result of this continuous advertising, people in the United States naturally began to use more and more chewing gum.
UNIT 19
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Import and export
In recent decade, the world has seen an international trade boom unlike any other in history. Most large corporations earn a great portion of their revenues from their overseas ventures. And many nations owe a large share of their gross national product to the output of firms based beyond their borders.
In the age when many business people are thinking globally, it is just as important to understand the working of the world economy as it is to understand our national economy. Fortunately, the same concepts of supply and demand, deficit and surplus also apply to international business. They just manifest themselves differently.
There are two sides to every trade relationship: buying and selling goods. In international trade, those who buy are importing goods or services from foreign sources; those who sell are exporting products to customers abroad.
When Honduras exports bananas to Switzerland, they can use the money they earn to import Swiss chocolate – or to pay for Kuwait oil or a vacation in Hawaii. The basic idea of international trade and investment is simple: each country produces goods or services that can be either consumed at home or exported to other countries.
The main difference between domestic trade and international trade is the use of foreign currencies to pay for the goods and services crossing international borders. Although global trade is often added up in US dollars, the trading itself involves various currencies. Japanese videocassette recorder is paid for in German marks in Berlin, and German cars are paid for in US dollars in Boston. Indian tea, Brazilian coffee, and American films are sold around the world in currencies as diverse as Turkish liras and Mexican pesos.
Whenever a country imports or exports goods and services, there is a resulting flow of funds: money returns to the exporting nation, and money flows out of the importing nation. Trade and investment is a two-way street, and with a minimum of trade barriers, international trade and investment usually makes everyone better off.
In an interlinked global economy, consumers are given the opportunity to buy the best products at the best prices. By opening up markets, a government allows its citizens to produce and export those things they are best at and to import the rest, choosing from whatever the world has to offer.
Some trade barriers will always exist as long as any two countries have different sets of law. However, when a country decides to protect its economy by erecting artificial trade barriers, the result is often damaging to everyone, including those people whose barriers were meant to protect.
The Great Depression of the 1930s, for example, spread around the world when the United States decided to erect trade barriers to protect local products. As other countries retaliated, trade plumped, jobs were lost, and the world entered a long period of economic decline.
The balance of trade (the import-export balance) is determined by the relationship between import and export. In years when we export more than we import, we have a favourable balance of trade. People in other countries buy more from us than we buy from them, and money flows into our economy. In years, when imports exceed exports, the balance of trade is infavorable. Money flows out of our country into the pockets of our foreign suppliers.
The balance of payment is the broadest indicator of international trade, because it measures the total flow of money into the country over a period of time, usually one year. The balance of payments encompasses not only the balance of trade, but also payments of foreign aid by governments and direct investment in assets.
The total values of exports and imports are not necessarily equal to each other. The difference between those two values is the net amount that a country lends to or borrows from the rest of the world. The consequence of importing more goods and services than a country exports is that it's a net borrower from – not a net lender to – the rest of the world.
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Vocabulary
trade boom – торговый бум
to earn – зарабатывать, получать доход, прибыль
revenue – доход, выручка
oversea – заграничный, иностранный
venture – рискованное предприятие, начинание
gross national product – валовой национальный продукт
output – продукция, продукт; выпуск; выработка
surplus – избыток, излишек
tp apply – применять, использовать, употреблять
to consume – потреблять, расходовать, тратить
domestic trade – внутренняя торговля
foreign currency – иностранная валюта
to flow out – тратить в большом количестве (о деньгах)
to give an opportunity – дать возможность
sets of laws – системы законов
to protect – защищать, охранять, ограждать
to erect – устанавливать, возводить, воздвигать
to retaliate – отплачивать, отвечать тем же самым
to plump – падать
decline – падение, спад, упадок
to determine – определять, устанавливать
to exceed – превышать
supplier – поставщик
broadest indicator – самый высокий показатель
to encompass – охватывать, заключать
net amount – чистая сумма (количество)
consequence – последствие, результат
borrower – заемщик
lender – заимодавец, кредитор
I.Give Russian equivalents to the following word combinations:
international trade boom; to earn revenue from; overseas ventures; output; to think globally; to understand the working of the economy; to manifest differently; trade relationship; to cross international borders; flow of funds; to buy the best products at the best prices; to have different sets of laws; to erect trade barriers; to protect local products; to have (un)favourable balance of trade; to measure the total flow of money; direct investment in assets.
II. Give English equivalents to the following word combinations:
валовой национальный продукт; национальная экономика; понятия предложение и спрос; избыток, излишек; потреблять, расходовать; внутренняя торговля; иностранная валюта; дать возможность; экономический спад; импорт превышает экспорт; поставщик; самый высокий показатель; чистая сумма (количество); результат; заемщик; кредитор.
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