TEXT 10

The law of supply

The law of supply states that sellers will offer more goods at a higher price and less at a lower price.

It is connected with the aim of every producer – to make a profit.

The higher the price, the greater the incentive to produce and sell the product.

Vocabulary

aim – цель

incentive – побудительный мотив, стимул

law of supply – закон предложения

producer – производитель, изготовитель

product – товар, продукт, изделие

profit - прибыль

seller - продавец

to state – заявлять, формулировать

TASKS

Task 1. Pronounce the following words (mind the stress):

1. supply, deny, reply;

2. dictate, relate;

3. surprise, despise, arise.

Task 2. Find in the text irregular verbs and give their forms.

Task 3. Give synonyms to the following words:

to connect

to make

to offer

to produce

Task 4. Give anonyms to the following words:

high

great

supply

profit

Task 5. Give all the synonyms that you know to the noun “product”.

Task 6. Finish up the following sentences and translate them into Russian.

1. The lawof supply states that …..

2. It is connected with the aim …..

3. The higher the price, the greater …..

Task 7. Translate the following sentences into Russian.

1. The more one has, the more one wants.

2. The sooner you do it, the better.

3. The less you say, the better (it is).

4. The more independent firms are in an industry, the greater the competition.

5. The bigger the firm, the greater the opportunity for each worker to specialize in these tasks for which he is best fitted.

6. The lower the price, the less likely it is that new firms enter the market.

Task 8. Answer the following questions.

1. What law is described in the text?

2. What is the aim of every producer?

3. In what case is the incentive to produce and sell the product higher?