Vocabulary

Part II

benefit type process to operate middleman commission finance (n) to serve warehouse (n) to levy

profit. a group of people or things having common characteristics. connected series of actions taken in manufacturing. to carry out. a trader through whose hands goods pass on their way from the producer to the consumer. payment to salesmen for selling goods. the management of money. to perform duties for someone. a building for storing goods. to collect money by authority.

Explanations

Part III

1. To operate (v) to cause to work or to manage.

Can you operate this machine?

We operate two workshops.

I cannot operate this lift.

The way in which something works is called its operation (n).

When does your plan come into operation?

I will commence the operation tomorrow.

Is the new law in operation now?

2. Mere (adj) means not more than.

He is a mere boy.

Mere words will not do.

Merely (adv) is a synonym of only and simply.

He merely enquired about her.

It’s merely a joke.

3. A process is a method used in manufacturing. For example, leather can be processed to obtain a certain colour. Food can be processed to preserve it.

4. Interest. This is one of four types of income, the others being rent, wages and profit. Interest is a payment made by a borrower for the use of a sum of money for a period of time.

5. Group is a collective noun. Such a noun is the name of a group of people or a collection of objects and is usually considered as a unit. Other examples are: fleet, bunch, team, mob, heap, crowd, troop, gang. When a collective noun is singular in meaning, it takes a singular verb. When the collective noun is plural in meaning, it takes a plural verb.

6. Sometimes the collective noun in a sentence represents the individuals acting as a unit. In that case the noun is singular. If the individuals are acting separately, the noun is plural.

Acting as a Unit

The delegation is against the proposal.

The team is withdrawing its support.

The crowd is large.

Acting as Individuals

The delegation have returned to their countries.

The team have given their contributions.

The crowd are queuing for tickets.

Exercises

1. Answer the following questions.

1. Define the word wholesaler.

2. Why is he able to buy goods cheaply?

3. How many types of wholesalers are there?

4. Who often assists wholesalers?

5. In what way does the bank assist the wholesaler?

2. Give the meanings of the following words.

   1. Benefit. 2. Type. 3. Process. 4. Serve.

3. Give the word that fits the description.

   1. To carry out.

   2. Payment to salesmen for selling goods.

   3. The management of money.

   4. A building for storing goods.

   5. A trader through whose hands goods pass on their way from the producer to the consumer.

Sample Letter of Complaint

Men’s Clothes Dealers Ltd.

142 South Road

Sheffield S 20 4 HL

England

April 18, 2003

Ref: Our Order No.142 of March 21, 2003

Dear Sirs,

Thank you for your delivery of men’s silk shirts, which we ordered on March 21, 2003. At the same time we would like to draw your attention to the following.

After examining the shirts we discovered some manufacturing defects:

• there are oil stains on 12 shirts;

• the colour of buttons on 5 of the shirts does not match the colour of these shirts;

• one shirt is in a different style.

We are returning the defective shirts by separate mail carriage forward, and would ask you to replace them with shirts in the colours and sizes specified below:

Size Colour Quantity

15 white 9

17 white 1

14 blue 6

16 blue 2

We would appreciate a prompt reply.

Yours faithfully,

V.Smurov

Vladimir Smurov

Export-Import Manager

Sample Letter of Answer

Visteria Ltd.

P.O. Box 82

Kiev 25 32 06

Ukraine

April 21, 2003

Ref: Order No. 142 of March 21, 2003

Dear Mr Smurov,

Your letter of April 18, 2003, was duly noted. The shirts you returned to us are indeed defective. We have to admit that these defects were overlooked by our controller and offer apologies for the oversight.

We are sending you new shirts as a replacement this week by air, carriage paid, and would ask you to confirm their receipt by fax.

If any other problems arise, please do not hesitate to contact us.

Yours sincerely,

Jack Brown

Jack Brown

Claims Department

Lesson 12

Retail trade

Part I

To retail is to sell goods in small quantities. The commonest retail outlet is the shop. A shopkeeper may be called a retailer. Other retailers include hawkers, market stall-holders and pedlars.

Most retailing is done by small shops but large-scale retailers are increasing in number. They include department stores, cooperative societies and supermarkets. Being large organisations, they can rent the best shops, provide a wide selection of goods and advertise effectively. The retailer provides an important service by supplying goods to people in the quantities they want. He keeps stocks to meet demand and sells them at reasonable prices. Some retailers offer hire purchase terms to their customers. This assistance enables them to buy immediately expensive articles for which they have saved only a little money. A customer will be allowed to take away an article after making a small down payment. He is permitted to pay the balance of the price in instalments. This facility will increase the volume of sales for the retailer and permit his customers to obtain their goods early.

The success of a retail outlet depends on its location, merchandise and service to its customers. The retailer must be honest and polite. For extra business he should advertise. Convenience is uppermost in the minds of the customers. Besides, if his prices are reasonable, customers will prefer to buy from him. The retailer who meets these requirements will have a flourishing business. His success is assured.