UNIT 23- Handout - ENGLISH - UNIT 23: THE BUSINESS CYCLE TASK 1 Complete each sentence with - Studocu

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UNIT 23: THE BUSINESS CYCLE

TASK 1

Complete each sentence with appropriate words from the box.

balance of payments consumption demand downturn expectations
gross domestic product (GDP) save supply upturn

The ……………… were higher than we expected by our investor. We proceeded to work
overtime to meet their challenging demands.
The company increased its production of the new sneaker after a recent advertising
campaign made the ……………… for the product soar.
The finance ministers were under a lot of pressure to improve the country’s economic
situation and, for that reason, they focused on their nation’s …………….. how they could
improve it.
When you put out a new product and everyone likes it you must increase your ……………… to
handle the demand.
When companies have rivals that offer a better product at the same or better price, they
often experience a ……………… in their stock market profile.
A small naturalistic pharmacy created the perfect medicine for colds. It became a popular
drug. A larger company got involved with them causing a great ……………… of their product.
The product was taken remade and renamed, but it never worked the same again.
A stock market is in ……………… when it changes from a bear market to a bull market.
Small changes can make a big difference to your bank balance. Change one thing you do
regularly and you could ……………… money. For example, you can share gardening tools and
equipment with your neighbours rather than each buying one of everything.
If you want to know how much your company has spent through the year you will need to
look through your ………………

TASK 2
Choose the correct answers.

1 The business cycle or trade cycle is a (temporary / permanent) feature of market economies:
GDP alternately grows and contracts.

2 During a(n) (upturn / downturn), parts of the economy expand to the point where they are
working at full capacity.

3 A long period of (expansion / contraction) is called a boom.

4 A downturn that lasts more than six months is called (a slump / a recession).

5 A downturn that lasts for a year or two is called (a slump / a recession).

6 The most probable cause of business cycle is (consumption decisions / balance of payments).

7 The fact that people start saving money and consuming less leads to a (rise / fall) in demand,
production, and employment.

8 If supply exceeds demand, prices will (rise / fall), and people will (start buying again / keep
saving more).

9 When the economy bottoms out, there will be a(n) (upturn / downturn).

10 The theories of business cycle that look for causes outside economic activities, such as
scientific advances, natural disaster, elections or political shocks, demographic changes, … are
known as (endogenous / exogenous) theories.

11 According to Joseph Schumpeter, the business cycle (leads to / results from) major
technological inventions.

TASK 3

What does the underlined part refer to?

1 “ one that lasts for a year or two is generally called a depression or a slump”(Para. 1)

2“during which radical innovations destroy established companies or industries” (Para. 3)

TASK 4

Find prepositions to complete the following phrases and write them in the blanks.
Paragraph 1
1 a permanent feature …………………. market economies
2 parts of economy expand …………………. the point where they are working ………………….
full capacity
3the demand …………………. goods and services
4 one that lasts …………………. a year or two
Paragraph 2
5 which …………………. turn are based …………………. expectations
6 all depend …………………. millions of decisions by consumers and businesses ………………….
whether to spend
7 feel confident …………………. the future

2He may …………………. decide not to come, in which case there’s no problem.
3I can’t get it all done by Friday – it’s just ………………….
Probable
1Until yesterday, the project was just a …………………. , but now it has become a real
probability (it is likely that it will happen).
2 …………………. the best thing to do is to call them before you go.
3 Transporting coal by air transportation is highly ………………….
Profit

We did not know if we should start a business because we did not know if we would
have enough …………………. when we began.
Over the years it has developed into a highly …………………. business.
Sustained periods of being …………………. can make a business go bankrupt unless new
strategies are adopted to change the direction of the negative income.