Exercise 1. Read, translate into Ukrainian in written form and memorize the definitions of the following economic terms and concepts.

1. Elastic supply:Supply for which a percentage change in a product's price causes a larger percentage change in the quantity supplied.	_________________________________________________________________________________________________________________________________________________________________________________________________
2. Elasticity of supply:The degree to which supply of a commodity responds to a change in that commodity’s price.	__________________________________________________________________________________________________________________________________________________________
3. Inelastic supply:Supply for which a percentage change in a product's price causes a smaller percentage change in the quantity supplied.	_________________________________________________________________________________________________________________________________________________________________________________________________
4. Law of supply:the economic law that states as the price of a commodity that producers are willing and able to offer for sale during a particular period of time rises (falls), the quantity of the commodity supplied goes up (decreases), all non-price determinates being equal.	_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
5. Quantity supplied:the amount of a product that producers are willing and able to sell at a certain price during a time period, all other factors that may determine supply remaining the same.	__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
6. Supply:the total amount of a commodity available for purchase by consumers.	_____________________________________________________________________________________________________________________
7. Supply curve: the graphical representation of how supply varies as prices change.	_____________________________________________________________________________________________________________________
8. Supply schedule: a table showing the quantities of a product that would be offered for sale at various prices at a given time.	____________________________________________________________________________________________________________________________________________________________

 

Exercise 2. Give the Ukrainian equivalents for the following.

1. at a particular price in a given time period – ______________________________ ___________________________________________________________________

2. to fall in between the prices – _________________________________________

3. a different price-quantity combination – _________________________________

4. a direct correlation – ________________________________________________

5. all non-price determinants being equal – _________________________________

6. the labour costs – ___________________________________________________

7. to result in improved productivity – _____________________________________

8. to prefer to store their products today – __________________________________

9. an important concept in understanding supply and demand theories – __________ ____________________________________________________________________

Exercise 3. Find the English equivalents for the following.

1. вивести/випустити на ринок – ________________________________________

2. товар, який постачається – __________________________________________

3. пропонувати на продаж – ___________________________________________

4. значно збільшувати прибутки – ______________________________________

5. прямопропорційна залежність – ______________________________________

6. давати можливість виробникам передбачити – __________________________ ___________________________________________________________________

7. значна зміна величини пропозиції – ___________________________________

8. за певною ціною – _________________________________________________

9. покривати збільшені виробничі витрати – ______________________________

10. експлуатаційні витрати підприємства – ________________________________

11. існуюча пропозиція – _______________________________________________

12. конкурентний ринок – ______________________________________________

Exercise 4. Match these nouns/noun phrases, prepositions (if necessary) and nouns/noun phrases as they occur together in the text. Translate the expressions they make into Ukrainian.

1. decisions	to between in along of about	the future price
2. each point	goods traded
3. expectations	opportunities
4. the amounts	the law of demand
5. the opposite	prices
6. the profit	prices and the quantity of goods
7. the relationship	the curve

Exercise 5. Match the verbs/verbal phrases, prepositions (if necessary) and nouns/noun phrases as they occur together in the text. Translate the expressions they make into Ukrainian.