- •The Interaction of Demand and Supply.Their Influence the Market Prices.
- •1. A. Think about the items youbought during the past twomonths.
- •2.Study key terms and their definitions.
- •3. To make the concept of demand clearer, entitle the following examplesof the main economic concepts concerning it. Answer the questions.
- •4. Match the terms with their definitions.
- •5.While reading the text match the questions to the answers.
- •Why is Demand Important?
- •Give Ukrainian equivalents for the following word combinations.
- •A. The italicized words in the sentences below are found in this unit. Study the sentences. Then identify the part of the speech and write your own definition for the words on the line provided.
- •Vocabulary practice
- •Find in the text English equivalents for the following word combinations. Write your own sentences using them.
- •IV. A. Study the difference between such nouns asamount, number and quantity.
- •In each set of words, cross out the words that does not have a similar meaning to the first. Compare your answers with another student. Discuss why the words are similar.
- •A. Expand your knowledge of non-price determinants of demand. Fill in the missing words in the sentences below. Choose from the box. Translate the sentences into Ukrainian.
- •Write one word in each gap to complete the sentences.
- •A. Read the text. Number the following words with their underlined equivalents in the text.
- •Read the following text. For each gap, choose the best words a, BorC.
- •Understanding main points of the text.
- •A. Which of these statements gives the best summary of the ideas in the text?
- •McMakeover Deluxe
- •B. Which of these statements gives the best summary of the ideas in the text?
- •Netflix, Blockbuster Battle It Out
- •Read the text and be ready to do the following assignments.
- •Scan the next article for the answers to the following questions:
- •Read the text written above. Title it and prepare a brief summary of the text.
A. Expand your knowledge of non-price determinants of demand. Fill in the missing words in the sentences below. Choose from the box. Translate the sentences into Ukrainian.
consumertastes |
to decrease |
consumers |
afford |
affect |
to reflect |
an increase |
marketdemand curve |
shortages |
compete |
to buy |
toincrease |
demand for |
a decrease |
stock up |
consumer preferences |
Only those peoplewith demand -the desire, ability, and willingnessto buy a product - can ________with others who have similar demands.
An increase in incomemeans people can _______ to buy more at allpossible prices.
Advertising, fashion trends, and evenchanges in the season can _______ consumertastes.
For example, when a product is successfullyadvertised, its popularity increasesand people tend _______ more of it;as aresult, the demand curve shifts to the right.
When fewer people want the product at allpossible prices, the demand curve shifts tothe left, showing ______ in demand.
In addition, the development of newproducts can have a dramatic and relativelysudden impact on _______.
Sometimes the change in _______ and preferences is relatively rapid,and sometimes the change occurs moreslowly.
In recent years, for example, consumerconcerns about health have slowlyincreased the _______ healthful foods.
In general, the demand for a product tends _______ if the price of its substitute goes up.
The demand for a product tends ________if the price of its substitute goes down.
_______ in the price of onegood usually leads to a decrease in thedemand for its complement.
If the weather service forecasts abad year for crops, people might _______on some foods before these items actuallybecome scarce.
The willingness to buy morebecause of expected future ______ wouldcause demand to increase, shown by a shiftof the demand curve to the right.
A change in income, tastes, and prices ofrelated products affects individual demandschedules and curves - and hence the _______.
The market demandcurve can also change if there is a change inthe number of _______.
The market demand curvewould shift to the right _______ an increasein demand.
B. Choose the number of the sentence that explaines changes in:
consumer income |
1 |
4 |
2 |
consumer tastes |
4 |
2 |
10 |
|
9 |
6 |
1 |
|
16 |
12 |
8 |
substitutes |
9 |
3 |
5 |
complements |
11 |
15 |
10 |
expectations |
10 |
13 |
11 |
|
14 |
12 |
3 |
number of consumers |
12 |
2 |
14 |