Substitute the words and word combinations given in bold type by synonyms or synonymous expressions from the active.

A

1.The basic components that describe dealings in the world product and financial markets are exports, imports, the trade balance, and exchange rates.

2.With a minimum of trade restrictions, international trade and investment usually makes everyone more prosperous.

3. Surveyors take into account the lost value, for instance, if the value of the lorry has gone down because it is two years old.

B

Economic activity began with a caveman, who was economically self-sufficient. He did his own hunting, found his own shelter, and made sure that he had the things that he needed. As primitive populations grew and developed, the principle of division of labour evolved. One person was more able to perform some activity than another, and therefore each person concentrated on what he did best. While one hunted, another fished. The hunter then traded his excess of production or supply to the fisherman, and thus each profited (benefited) from the variety of diet.

In today’s complex economic world, neither individuals nor nations are self-sufficient. Nations have utilized different economic resources; people have developed different skills. This is the foundation of world commerce and economic activity. As a result, international finance and banking have evolved. For example, the United States is a major purchaser of coffee, yet it does not have the climate to grow any of his own. Consequently, the United States must bringcoffeeinto a country from countries (such as Brazil, Colombia, and Guatemala) that grow coffee efficiently. On the other hand, the United States has large industrial plants capable of producing an assortment of goods, such as chemicals and aeroplanes, which can be sold to nations that need them. If nations counter traded, such as one automobile for 10,000 bags of coffee, foreign trade would be extremely cumbersome and limited. But instead of barter, which is the trade of goods without an exchange of money, the United States receives money in payment for what it sells. It pays for Brazilian coffee with dollars, which Brazil can use to obtain in exchange for payment wool from Australia, which in turn can buy textiles from Great Britain, which can then buy tobacco from the United States.

1.5.6

A. Search for keywordsinvisibles, trade balance, financial centers, Lloyds Underwriters, Forex, Eurocurrency marketin the Internet to find further information about one of these items. Report on your findings in a presentation using the following points and helpful phrases from the chart:

B. Comment on the presentation given by your colleague. Make use of the following points and helpful phrases. Do your best so as not to offend the speaker and to show the positive sides of the presentation rather than criticize it:

- The timing

· The presentation was a bit too extended(had an appropriate timing)

· to follow the timeline

-The lay-out of the presentation

· to be well (badly, appropriately, ... etc.) - structured, - planned

· to be clearly organized into introduction, the main part, conclusion

- The manner of presentation

· to speak distinctly and clearly (slowly, monotonously, ... etc.)

· to have a good/poor/(in)sufficient eye-to-eye contact with target listeners

· to encourage feedback

· as to the speaker’s poise , he/she was quite self-possessed throughout the lecture

- General language ability

· to have mispronouncings (slips of the tongue, grammatical errors)

· to have a good (poor, adequate, appropriate) command of the language

· to use helpful phrases (active vocabulary) in a full range

· to be (not) up to the mark

- The contents of the presentation

· the facts were well-chosen(varied, to the point,...etc.) and helped to hold attention and interest of the listeners

· to cover the matter fully

· to be (quite) at home in the subject

· to be concise, but to the point

- The use of visuals and slide structure

· to find the correct approach to the subject

· to help the audience concentrate on what the lecturer is saying

· the chosen fonts (colour, background, graphs) reinforce the logic of the presentation

- I assume, ... (guess, reckon... etc.) / I should admit that ...

- I regret to say, that … .

- I’m afraid I didn’t quite catch ... (what the speaker said / meant ...).

- My impression of the presentation is (un- / hardly / quite) favourable.