tiếng anh chuyên ngành quản trị kinh doanh English10

Unit 4: Some economic laws
satisfaction is greater than his financial sacrifice. With each purchase, however, his satisfaction
decreases although the prices remain the same. If a consumer’s supply of money is limited, a point
will come when the financial sacrifice is greater than the satisfaction of smoking cigarettes. He
will stop buying the commodity. The cigarettes are the same, but their utility has changed. If the
prices rose, he would buy fewer; if they fell, he might buy more.
We can see that the nature of a commodity remains the same, but its utility changes. This
indicates that a special relationship exists between goods and services on the one hand and a
consumer and his money on the other hand. The consumer’s desire for a commodity tends to
diminish as he buys more units of that commodity. Thus tendency is called the Law of
Diminishing Marginal Utility.
Utility is of course related to the Laws of Supply and Demand. When economists talk about
a Law of Supply, they mean that a rise in prices tends to increase the supply of a commodity,
while a fall in prices tends to reduce it. When they talk about the Law of Demand, they mean that
a fall in prices tends to increase the demand for a commodity, while a rise in prices tends to
decrease the demand. In any economic situation, a consumer will decide to buy a commodity only
in terms of its particular utility to him.
If the prices of a particular commodity rise in the economy as a whole, the rise will
naturally encourage producers to make more of that commodity. If, on the other hand, prices fall
locally or throughout the world, producers will reduce production. Supplies of many commodities
can generally be adjusted to suit market conditions. This means that changes in market prices lead
to changes in the quantity of a particular commodity made available to consumers. Household
goods and furniture are in this category. In such instances, supply is said to be elastic, because it
can be increased or decreased rapidly to suit market prices.
The principle of elasticity operates in the area of demand as well as in the area of supply.
People very seldom have everything they want. They usually have to choose carefully how they
will spend their money. When they exercise this choice, they work according to their personal
scale of preferences, beginning with top-priority essentials like foods and housing. Next on their
scale come those commodities which provide comfort or convenience of some kind (telephones,
insurance etc) and finally come the non-essentials like holidays and trips to the theatre, which are
important parts of life but not comparable with food and shelter. If it is necessary to pay very high

prices for the essentials of life, people pay them - even if this means spending all their income. In
such cases demand is inelastic. For non-essentials, however, demand is elastic and particularly
responsive to changes in price.
Exercise 1
Decide whether the following statements are true (T) or false (F), and if they are false say
why.
1. Switzerland is a maritime nation, and places a high priority on submarines.
………………………………………………………………………………………………

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Unit 4: Some economic laws
2. If the current price of cigarettes remains the same, consumers will continue to buy
more, even when their satisfaction is less than their financial loss.
………………………………………………………………………………………………
3. Because a consumer’s desire for a commodity tends to diminish as he buys more units
of that commodity, economists talk of a Law of Diminishing Utility.
………………………………………………………………………………………………
4. Because the supply of furniture and household goods can be adjusted to suit market
conditions, we say that their supply is elastic.
………………………………………………………………………………………………
5. Because elasticity of demand refers to things high on our scale of preferences, we can
say that the demand for essentials like foods and shelter is very elastic.
………………………………………………………………………………………………
Exercise 2
Insert a suitable preposition in each of the blanks in these sentences.
1. He is interested _______ economics.
2. He is not concerned __________ non-essential commodities.
3. The demand ___________ bananas will probably increase.

4. The supply ___________ cigarettes does not usually fluctuate.
5. The consumer’s needs __________ such commodities is well-known.
6. There was a change __________ the quantity of material supplied.
7. He paid quite a lot of money _________ that car.
8. He paid the money _________ that man.
9. The American economic system is based _________ capitalistic principles.
10. Most citizens conform ________ the law of the country in which they live.
11. Non-essential commodities like chocolates can not be compared _______ basic
necessities like shelter.

2. LANGUAGE PRACTICE
2.1. Description: the use of although and though.
Very often, both of these words can be used in the same way. There are one or two
differences.
- Though is more common in informal speech or writing. Although can be used in all
styles.
Example: I’d quite like to go out, (al) though it is a bit late.
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Unit 4: Some economic laws
- Though is often used with even to give emphasis. “Even though” means “ not possible”.
Example: Even though I didn’t understand a word, I kept smiling.
- Though (but not although) can be put at the end of a sentence, with the meaning of
“however”.
Example: It was a quiet party. I had a good time, though.
- In longer sentence, though can also comes in other positions:
Example: The strongest argument, though, is Britain’s economic and political dependence
on the United States.
- In cases like these, though is an adverb. Although can only be used as a conjunction.

Exercise 1
Combine these pairs of sentences by using although.
Example:X = His satisfaction decreases.
Y = The prices remain the same.
i. X although Y
His satisfaction decreases although prices remain the same.
ii. Although Y, X
Although prices remain the same, his satisfaction decreases.
a. X = The individual can not change the current price.
Y = He may want to do so.
b. X = The utility of the cigarettes has changed.
Y = Their quality is the same.
c. X = He wants to buy that car now.
Y = He should wait until he has enough money for both the car and other
necessary things.
d. X = The work has not been done yet.
Y = It was planned five years ago.
e. X = The scheme has been started.
Y = It has not yet received government permission.
2.2. Conditional sentences when the condition is true.
Cấu trúc và ý nghĩa của các dạng câu điều kiện đã được trình bày rất chi tiết trong cuốn
tiếng Anh 2. Trong phần này, bạn sẽ ôn lại về câu điều kiện dạng 1 và luyện làm bài tập thêm cho
thành thạo.

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Unit 4: Some economic laws
- If a condition is true in the present or future you should use the simple present tense in
the if clause and the simple present or simple future in the result clause.

- The simple present tense is used in the result clause to express the habitual activity or
situation
Example: If spending cuts are not made, governments have to print money to finance their
deficit.
- The simple present or the simple future is used in the result clause to express an
established, predictable fact.
Example: If a deficit is financed by printing more money, prices (will) rise.
- The simple future is used in the result clause when the sentence concerns a particular
activity or situation in the future.
Example: If my sister comes to visit me in Vietnam, I will take her to Halong Bay.
Exercise 2
Complete the following sentences with the present or future in the result clause.
a. If I have enough time I (cook) ________ fish curry tonight.
b. I (write) ________ letters to my parents if I have time.
c. I (fix) _________ your bicycle if I have the right tools.
d. If you stand in the rain, you (get) _________ wet.
e. Jack (answer) ________ the phone if he is in his office.
f. If I have enough money, I (go) _________ with you.
g. She (visit) _______ France if she has enough money.
h. If the weather is nice tomorrow, we (go) ________ to the zoo.
i.

Linda isn’t at home right now. If she (be) ________ at home right now, I (visit)
_________ her.

3. LISTENING: Insurance
Exercise 1. Roman numerals
What numbers do these roman numerals stand for ? Put them in two columns of odd and
even numbers in numerical order, starting with the lowest number in each column
(a) III

(b) XX

(c) VI

(d) IX

(e) XVII

(f) XIV

(g) IV

(h) XIX

(i) XII

(J) XI

(k) II

(l) X

ODD NUMBERS

EVEN NUMBERS

(A) III-3

(K) II-2

NB Even numbers are numbers which can be divided exactly by two.
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Unit 4: Some economic laws

Laboratory drill
P : Fourteen

R : XIV

Exercise 2. Years and centuries .
Talk about these years and centuries, like this
P : Sixteen sixty-six

R : That’s in the seventeenth century

(a) 1666

(b) 1952

(c) 2000

(d) 1874

(e) 1739

(f) 1225

(g)1983

(h) 25 BC

Laboratory drill A
P : Sixteen sixty-six

R : That’ s in the seventeenth century.

Laboratory drill B
P : (a)

R : Sixteen sixty-six

Exercise 3. Dates
Write these dates as you would say them if you were (a) British (b) American, like this:
6/12

(a) The sixth of December

(b) June twelfth

(i) 8/9

(ii) 3/7

(iv) 11/1

(iii) 10/2

(v) 4/12

(vi) 5/5

Laboratory drill A
P: Six stroke twelve

R :The sixth of December

Laboratory drill B
P : Six stroke twelve

R : June twelfth

Exercise 4. Phrasal verbs
Decide which phrasal verb replaces the more formal verbs in italics in these sentences. Use
the phrasal verbs with nouns and with pronouns, like this.
To take out insurance cover
P : I’m going to take out insurance cover.

R: Let me take it out for you.

take out - fill in - turn of - put in - work out - take off - look up
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Unit 4: Some economic laws
1. To submit a claim
2. To deduct the discount
3. To complete the form

4. To calculate the premium
5. To find the word
6. To stop the photocopier

Laboratory drill
P : I’m going to take out insurance cover
Exercise 5. Vocabulary puzzle
The clues for this word puzzle are on the disk.

1
2

5
6
7
8
9

Hidden word

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R : Let me take it out for you.


Unit 4: Some economic laws

SUMMARY
Trong bài số 4 bạn đã học qua các phần sau:
- Từ vựng liên quan đến luật kinh tế, lĩnh vực bảo hiểm

- Cách sử dụng although và though
- Ôn lại câu điều kiện
- Cách đọc các số La Mã
- Cách đọc ngày tháng năm theo tiếng Anh – Anh hoặc tiếng Anh - Mỹ
- Cách thành lập câu khi sử dụng các đại từ với động ngữ

VOCABULARY
broker

n

người môi giới

B.C (Before Christ)

n

trước công nguyên

broker’s slip

n

hợp đồng của người môi giới

clue

n

đầu mối, manh mối, gợi ý

curve

n

đường cong

deduct

v

trừ, giảm

effect

n

ảnh hưởng

elastic

adj

co dãn

equal

adj

cân bằng

even number

n

số chẵn

hypothetical

adj

có tính chất giả thuyết

insurance certificate

n

giấy chứng nhận bảo hiểm

insurance company

n

công ty bảo hiểm

insurance cover

n

bảo hiểm

insurance market

n

thị trường bảo hiểm

IOU (I OWE YOU)

n

giấy ghi nợ

Law of Demand

n

luật cầu

Law of Diminishing Marginal Utility

n

qui luật lợi ích cận biên giảm dần

Law of Supply

n

luật cung

Lloyd’s

n

thị trường bảo hiểm Lloyd’s

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