Exercise 41 Answer the following questions according to the text.

1. Give one of the definitions of transport. 2. What is the peculiarity of transport economics study? 3. Enumerate some major concepts of economics and give their definitions. 4. What are the main problems transport economists have to solve? 5. What questions are of primary importance for any manager? And which way can they find answers to them? 6. Which financial documents are necessary for the work of any company? 7. What does marketing on railway include? Why is it important? 8. What do railways have to do to be competitive on the transportation market? 9. What activities do transport logistics experts deal with? 10. What are the objectives of railway departments regarding better passenger services? Better freight services?

Exercise 42 Find English equivalents.

Перш за все, цивільне будівництво, сировина, заробітні плати та фінансування, збирати інформацію про ринок, відповідальність головних керівників, певний спектр роботи, робота з персоналом, керівництво крупним підприємством, повністю самостійно, відповідальність, влада та обов’язки, закриватися з приводу нестачі коштів, бухгалтерський відділок, реалізовувати ідеї.

Exercise 43 Choose the appropriate words in brackets.

1. They solve different problems (connect, connected, connecting) with traffic forecasting. 2. It is of primary importance to give (constructed, constructing, constructive) answer to these questions. 3. Another activity that is (cover, covers, covered) by transport economics is marketing. 4. All the measures are used to satisfy (organization, organize, organizational) goals. 5. The ultimate goal is the highest (profitable, profitless, profitability).

Exercise 44 Match words with their definitions.

locality	the quantity of a good that buyers wish to buy at each price
concept	the quantity of a good that sellers wish to sell at each price
demand	an activity intended to help sell a product
delegation	a geographical place
supply	an abstract general notion
promotion	someone whose job is to deal with part or all of a company or other organization
to satisfy	arriving, happening, or being done at exactly the time that has been arranged
to predict	to make someone feel pleased by doing what they want
manager	to say that something will happen, before it happens
punctual	the process of giving power or work to someone else so that they are responsible for part of what you normallydo

Exercise 45 Complete the text with the words in italics.

Supplementary text

Logistics on the Move

A new breed of logistics operator takes advantage

of new technology to create new markets

Logistics is a word most often seen on the side of trucks and is therefore mostly associated with the ¹_____ of goods from one place to another. But it has a bigger meaning, the management of the flow of material through an organization from ²_____ materials to finished goods. It might sound a simple enough business moving things around but it is growing more complex as new technology and greater use of the ³_____ open new ways of passing around ⁴_____ and selling products. This has opened up many new ⁵_____ for the logistics industry.

E-commerce has encouraged a new generation of logistics ⁶_____ to set up new companies. When you first ⁷_____ a new e-business it is cheaper and more efficient to outsource the packing and delivery of products. It also reduces the initial investment and ⁸_____ factor in setting up a new business.

Good logistics also plays an important role in reducing the costly inventory problems of over ⁹_____ and guaranteeing that there are no interruptions in the supply ¹⁰_____.

1. travel, transport, export; 2. raw, basic, component; 3. email, software, internet; 4. news, stories, information; 5. ways, markets, products; 6. entrepreneurs, engineers, businessmen; 7. begin, launch, commence; 8. inventory, warehouse, materials; 9. filling, stocking, supplying; 10. links, flow, chain.

Exercise 46 Think of the form of transport you would choose for the following consignments and why?

1. A large consignment of cars from Hamburg to Dresden. 2. A small consignment of flour from Wales to London. 3. A consignment of diamonds from Cape Town to Cairo. 4. A large consignment of coal from Sheffield to Leeds (both in the north of England). 5. A cargo of bananas from the Caribbean to Dublin.

Exercise 47 Compare rail and air transport. Use the information given.

Rail transportation

Advantages: -virtually all types of cargo can be transported -virtually any distance can be covered -large quantities can be transported

Disadvantages: -may be affected by strikes -a relatively high risk of theft

Air transportation

Advantages: -fast -a secure form of transport, which means that insurance costs are low -no limitation as to distance

Disadvantages: -relatively expensive -subject to delays and strikes -not practical for short distances -may be necessary to send the goods some distance to reach the cargo terminal of an airport