The law of demand

Demand is a consumer’s ability and willingness to buy a commodity or service at a particular time and place.

The law of demand describes the relationship between prices and the quantity of goods and services that could be purchased at each price.

It says that in case of equal situations more items will be sold at a lower price than at a higher price.

Vocabulary

ability – способность

commodity – товар

consumer – потребитель

law of demand – закон спроса

to purchase – покупать

quantity – количество

willingness – готовность

TASKS

Task 1. What law is mentioned in the text?

Task 2. Look through the text and find irregular verbs. Give their forms.

Task 3. Form degrees of comparison from the following adjectives:

Model: low – lower – the lowest

high

big

large

simple

easy

busy

Task 4. Which one isn’t the same?

1. commodity, goods, particular, price;

2. low, high, service, equal;

3. demand, service, at, relationship.

Task 5. Find in the text the beginning of the sentences and translate them into Russian.

1. …. is a consumer’s ability and willingness to buy a commodity or service at a particular time and place.

2. …. describes the relationship between prices and a quantity of goods and services that could be purchased at each price.

Task 6. Arrange the letters in brackets into terms of the given definitions.

1. a person who buys goods, products for his own use, not for business

(m o c u s e n r);

2. the amount of money for which something is bought, sold (r e c p i);

3. the total amount of a type of goods or services that people or companies buy in a particular period of time (n m a d e d).

Task 7. What is demand?

2. What does the law of demand describe?

3. What does it say?