Vocabulary

Part II

lately	recently.
hardware	metal goods for home use, e.g. pans, pails, screwdrivers etc.
variety	a number of different things.
advantage	benefit.
to afford	to have enough money for.
to compete	to seek more of anything in opposition to others, e.g. in business.
unfair free enterprise	unjust. a system by which people are free to own capital and take part in business
to make a living	to have as one’s livelihood.
to manage = to run	to control, e.g. business operations.
to go out of business	to end a business because of losses.
to quote	to give a reference in support of a statement.
prosperous	successful.
to overcharge	to charge customers too high a price.
to survive	to continue to exist.

Explanations

Part III

1. Can you quote other examples… The word quote has several meanings. In the above request it has the meaning of to give. It can also mean to mention (a price)

This is the lowest price we can quote.

Is this share quoted on the Stock Exchange?

To quote also means to write or repeat words (from a book, an author, etc.)

Don’t quote me.

He quoted verses from the Bible.

2. To differ is to be unlike. The word usually takes the preposition from.

The twins are very much alike, yet they differ in some ways.

The businessmen differed widely in their views.

3. Free enterprise. This is a system in which individuals can own capital and invest it in business. The system is practised in most countries of the world. A system that is opposite to it is found in state controlled economies, e.g. North Korea. Most capitalist systems now adapt the “middle way”. There is some state control but most of the economy is in the hands of private individuals.

4. The word prosperous is derived from to prosper which means to do well.

Our business prospered.

May you prosper in your new business!

Prosperity (n) is the state of being successful.

Prosperity came to Mr Lloyd after years of work.

We seek peace and prosperity.

A prosperous (adj) merchant is one who has a flourishing (growing in a healthy way) business. He is therefore a successful man.

John is a prosperous retailer.

Only prosperous businessmen can afford this car.

Exercises

1. Answer the following questions.

   1. What does John do for a living?

   2. Quote two examples of retail outlets other than a shop like John’s.

   3. In what way does the public benefit from competition?

   4. What is free enterprise?

   5. How does John compete with large organisations?

2. Give the meanings of the following words.

   1. Lately. 2. To differ. 3. Prosperous. 4. Variety. 5. Unfair.

3. Give the words that fit the description.

   1. Metal goods for home use.

   2. To charge customers too high a price.

   3. To have enough money for.

   4. To give a reference in support of a statement.

   5. To continue to exist.

4. Fill in the blanks with the correct derivatives of the word “to prosper”.

   1. The state of being successful is called ______ .

   2. We must work hard if we want to ______ .

   3. A person with a flourishing business may be described as ______ .

   4. Their business ______ because they had many customers.

Sample of a Reminder Letter

Carsons Inc.

Bay Avenue

San Francisco

July 23, 2002

Dear Mr Carsons,

According to our records payment of our invoice No. 3823, sent to you in April, has not yet been made.

As specified on all our estimates and invoices our terms of payment are 30 days. Your invoice has now been outstanding for 90 days. In the case of unsettled debt of this duration it is our company policy to take legal action.

We would naturally prefer not to have to go so far. Would you please send us a check by return. In case you have lost or mislaid the original I am enclosing a copy of our invoice.

We look forward to receiving your payment by return.

Yours sincerely,

Pierre Lacoste

Pierre Lacoste

Credit Controller

Lesson 13