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ENGLEZA DE AFACERI

IONCEA MONICA FLORENTINA

Master Management si Dezvoltare Rurala
Anul I USAMV - Filiala Slatina
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Engleza pentru afaceri

UNIT 7: THE INVISIBLE HAND OF THE MARKET

I. Read and learn:

By following their self-own interest in open and competitive markets,

consumers, producers and workers are led to use their economic resources in ways that
have the greatest value to the national economy at leas in terms of satisfying more of
peoples wants. The first person to point out this fact in a systematic way was the Scottish
philosopher Adam Smith, who published his most famous book An Inquiry into the
Nature and Causes of the Wealth of Nations, in 1776. Smith was the first great classical
economist, and among the first to describe how an economy based on a system of market
could promote economic efficiency and individual freedom, regardless of whether people
were particularly industrious or lazy.
Smith argued that if people are naturally good and kind, a market economy offers
them a great deal of economic freedom to carry out their good deeds, backed up by an
efficient system of production which generates more material goods and services for
them to use in doing those good works. But what if people are selfish, greedy or lazy?
Anyone who wants to enjoy more of the material goods and services produced in
a market economy faces strong economic incentives to work hard, spend carefully, save
and invest. And most successful businesses have to produce good products, sell them at
market prices, pay their employees market wages, and treat their customers courteously
even if that isnt their natural way of doing things.
The basic reason for that kind of change in some peoples behaviour is
competition. As Adam Smith pointed out, when there are several butcher shops in a
community, any butcher who is rude or tries to sell inferior meat at unreasonable prices
soon looses business and income to other butcher shops. () the more a greedy or selfish
butcher wants to enjoy a higher standard of living, the more he or she will try to meet the
competition and build up a large base of satisfied customers. Or, as Smith described this
feature of market economies, people are led: as if by an invisible hand to work and
behave in ways that use resources efficiently, in terms of producing things that other
people want and are willing to pay for, even though that may have not been part of their
original intentions.
One other factor must be at work for Smiths invisible hand to function properly:
the butcher must own or rent the shop, so that he or she has the rights to its profits.
Without this right to private property and to the profits it brings, the invisible hand of
competition will not motivate business to offer the best and most varied products at
reasonable prices.
By decentralizing the control of economic resources letting individual producers
decide what and how to produce to satisfy their customers competition and self interest
insure that most resources available in a market economy are used efficiently, which is to
say in their most valuable uses as directed by what consumers demand and buy.

II. Find words in the text that have the same meaning as the following ones:
To warrant; hard-working; avaricious; thoroughly; well-known; to benefit; wisely; to put
aside; income; characteristic; to provide;

III. Answer the following questions:

1. Who wrote An Inquiry Into the Nature and Causes of the Wealth of Nations?
2. What is the role of competition in a market economy?
3. Can you name the main features that make a market economy different from a
command one?
IV. Focus on Grammar:

A. Indefinite Pronouns and Adjectives (Pronumele i adjectivele nehotrte)

B. Past Tense Simple (Trecutul Simplu)

A.: Pronumele i adjectivele nehotrte some; any, no, every i compuii lor

Propoziii affirmative (+) Propoziii interrogative (?) Propoziii negative (-)

Some- ceva, nite, civa, Any ceva, nite, civa, No- nici un, nici o, un fel
cteva, unii, unele cteva, unii, unele de, deloc

Any- orice, oricare Some- ceva, nite, civa, Any- nici un, nici o, nici un
cteva fel de

Compuii lui some, any, no, every

body one thing where
some Somebody cineva (+?) Someone - Something- Somewhere-
cineva ceva undeva (+?)
(+?) (+, ?)
any Anybody cineva (?) Anyone Anything Anywhere-
- nimeni (-) cineva (?); ceva (?), undeva (?);
- oricine (+) nimeni (-); nimic (-), nicieri (-);
oricine (+) orice (+) oriunde (+)
no Nobody- nimeni (-) No one Nothing Nowhere-
nimeni (-) nimic (-) nicieri (-)
every Everybody fiecare, toi, toat Everyone - Everything - Everywhere-
lumea fiecare, toi, totul pretutindeni
toat lumea
Ex: There is some coffee in the cup. (adj. nehotrt)
Some of those students are our friends. (pron. nehot.)
Ask somebody about it. (pron. nehot.)
Can you tell me something about it?
Is there any coffee in the cup? (adj. nehot.)
Are any of those students your friends? (pron. nehot.)
Is anybody at home? (pron. nehot.)
There isnt any coffee in the cup. (adj. nehot.) Nu este deloc cafea n ceac.
There isnt anybody in the room. (pron. nehot.)
Any student can answer this question. (adj. nehot.) (oricare)
You may have anything on the table. (pron. nehot.)
There is no coffee in the cup. (adj. nehot.)
There are no dictionaries on the table. (adj. nehot.)
Nobody can answer you questions (pron. nehot.)
Every citizen has to pay taxes. (all citizens as a group) VS. Each member of the
football team must sign a contract. (Each person separately)

Valorile lui everywhere:

a) adverb: We searched everywhere for them.
b) pronoun: Everywhere was very quiet.
c) conjunction: Everywhere I looked, there was death and destruction.

Folosirea lui everyone:

Everyone/ everybody wants to be happy. (verb la singular dup pronumele subiect
everyone)
Everyone should bring his/her own lunch. (adjectiv posesiv singular- limbaj formal)
Everyone should bring their own lunch (adjectiv posesiv plural- limbaj informal)

B. Past Tense Simple (trecutul simplu):

1. Adam Smith published his most famous book An Inquiry into the Nature and
Causes of the Wealth of Nations, in 1776.
2. Smith was the first great classical economist.

Forme: trecutul verbelor regulate se construieste prin adugarea grupului ed la forma

de infinitv scurt. Timpul trecut al verbelor neregulate este dat n tabelul de verbe
neregulate (forma a II-a)
Affirmative: I/ you/ he/ she/ we/ you/ they bought a new car yesterday.
I/ you/ he/ she/ we/ you/ they watched a comedy last night.
Interrogative: Did I/ you/ he/ she/ we/ you/ they/ buy a new car yesterday?
Did I/ you/ he/ she/ we/ you/ they/ watch a comedy last night?
Negative: I/ you/ he/ she/ we/ you/ they did not/ didnt buy a new car yesterday.
I/ you/ he/ she/ we/ you/ they did not/ didnt watch a comedy last night.
Intrebuinare:
1. Este folosit pentru a exprima o aciune petrecut i ncheiat n trecut, care nu are nici
un fel de legatur cu prezentul. Aceast aciune poate fi asociat cu un anumit moment,
exprimat printr-un adverb de timp definit sau o locuiune adverbial de timp referitoare la
trecut: yesterday, two days ago (orice combinaie cu ago), last week, last year, in 1970,
How long ago?, then, when etc.
They spent their holidays in Switzerland last winter.
They had a great time. (momentul exact este deja cunoscut)
2. Este timpul folosit n naratiuni, cnd povestim ceva ce s-a petrecut n trecut.
First I wrote my homework, I watched a film on the TV and then I had a walk.
3. Este folosit pentru a ne referi la obiceiuri din trecut, care nu mai sunt valabile n
present. In aceast situaie forma de trecut poate fi nlocuit cu expresia used to
People travelled/ used to travel by carriage in those days.
4. Se folosete pentru a ne referi la viaa i activitatea unor personae care nu mai snt n
via.
Marilyn Monroe starred in a number of successful films.

Trecutul verbelor regulate: probleme de ortografie

A) verbele care se termina n e adaug doar consoana dbake- baked
B) verbele monosilabice care se termin n vocal + consoan dubleaz consoana: stop
stopped
C) verbele care se termin n consoan +y l schimb pe y n si adaug grupul ed
fry- fried
D) verbele care se termin n vocal + y adaug grupul ed fr alte modificri: stay-
stayed

TABELUL VERBELOR NEREGULATE

Infinitive Past simple Past participle Translation
be Was/were been
beat beat beaten
become became become
begin began begun
bend bent bent
bet bet bet
bite bit bitten
blow blew blown
break broke broken
bring brought brought
build built built
burn Burnt/burned Burnt/burned
buy bought bought
catch caught caught
choose chose chosen
come came come
cost cost cost
cut cut cut
do did done
dream Dreamed/dreamt Dreamed/dreamt
drink drank drunk
drive drove driven
eat ate eaten
fall fell fallen
feed fed fed
fight fought fought
find found found
fly flew flown
forget forgot forgotten
forgive forgave forgiven
freeze froze frozen
get got got
give gave given
go went gone
grow grew grown
hang Hung/hanged Hung/hanged
have had had
hear heard heard
hit hit hit
hold held held
hurt hurt hurt
keep kept kept
know knew known
lay laid laid
lead led led
learn learnt learnt
leave left left
lend lent lent
let let let
lie lay lain
lose lost lost
make made made
mean meant meant
meet met met
pay paid paid
put put put
read read read
ride rode ridden
ring rang rung
rise rose risen
run ran run
say said said
see saw seen
sell sold sold
send sent sent
set set set
shake shook shaken
shine shone shone
shoot shot shot
show showed shown
shrink shrank shrunk
shut shut shut
sing sang sung
sink sank sunk
sit sat sat
sleep slept slept
smell Smelt/smelled Smelt/smelled
spend spent spent
spread spread spread
stand stood stood
steal stole stolen
swear swore sworn
swim swam swum
take took taken
teach taught taught
throw threw thrown
understand understood understood
wake woke woken
wear wore worn
win won won
write wrote written

UNIT 7: INFLATION

I. Reading session:

Will inflation remain one of the most intractable problems confronting societies in
transition from centralized to free market economies? It will be, however, a challenge that
such societies must meet if they are to enjoy the material benefits that a market economy
can provide.
Inflation is an increase in the average price level of the goods and services
produced and sold in an economy. Inflation typically occurs in a market economy for on
of two reasons: either people increase their spending faster than producers are able to
increase the supply of the goods and services; or there is a decrease in the supply of
goods and services to consumers and/or producers, which drives up prices. Inflation has
sometimes been described as an increasing amount of money chasing a shrinking number
of goods.
Inflation hits economies in transition hard because price liberalization the
removal of government control of prices is an essential step towards a market economy.
The initial result of such price liberalization is predictable a wave of price increases for
goods that were in chronic short supply. Why? Because the government held their prices
artificially low, so demand perennially outstripped supply, or because of other economic
distortions and inefficiencies created by government decision-makers. In addition, if
people are holding large amounts of money at the time of this transition (since there was
little of value to buy) the pressure of inflation can be even greater.
Nevertheless, the rewards of enduring the inevitable bout of inflation during this
transitional period are substantial. Unfettered by government, the market mechanisms of
supply and demand will begin to function. High prices signal strong demands and the
market, albeit slowly and haltingly at first, responds with increased production. Peoples
money may have lost value, but what money they have is now real and consumers can
buy the goods that are beginning to appear in stores. With supply increasing, prices
stabilize and queues begin to disappear as consumers realize that more and varied
products will continue to be available for sale.
Entrepreneurs and investors eager to benefit from the new economic freedom are
going to start new business and compete to provide goods and services. Thus more jobs
will be created while prices will moderate further.
The key element in this transition is for the government to relinquish its role in
setting prices and permit the market forces of supply and demand to establish prices for
virtually all goods and services. When such a free market is established, inflation may
persist, but it is a far more manageable and less threatening problem than in the early,
hard days of economic transition.
(What is Market economy, USIS, 1992)
MONETARY POLICY
Monetary policy is how the government tries to improve the countrys economy
by using banks and money, acting on the level of deposits and loans, and on interest rates
and exchange rates.
As well as keeping inflation low, a government will seek to keep unemployment
low and output rising. However, it cannot do all three things at the same time. For
instance, if it is very successful in lowering unemployment, the shortages of workers may
cause wages to rise, as employers bid for more employees. The workers will spend their
increased wages in the shops and this may cause prices to rise thereby causing inflation
to rise.
A government may have to choose therefore between these aims or goals. Mrs.
Thatchers government (in office between1979 1990) chose the reduction of inflation as
the goal which should be given the utmost priority. Unemployment, economic growth and
the enormous gap between exports and imports were not considered so important.
(Banking: The Business, Pitman, 1990,
pp.27-28)

II. Answer the following three questions based on what you have just read.

What is inflation?
What causes inflation?
What is meant by monetary policy?

III. Focus on Grammar: Ways of expressing future

 A. Future Simple:
Forms: Affirmative: Subject + will + short infinitive of the main verb
I will (Ill) buy the red shirt.
Negative: Subject + will + not = short infinitive of the main verb
I will not buy (I wont) the red shirt.
Interrogative: Will + Subject + short infinitive of the main verb
Will you come to my party?
Use:
a) In predictions about the future, usually with think; believe; be afraid; probably,
etc.
E.g. I believe prices will remain steady in the following months.
b) For on the - spot decisions.
E.g. Its late. Ill take a taxi home. Ill lend you my car if you want.
c) For actions/ events/situations which will definitely happen in the future and which
we cannot control.
e.g. Winter will set in early this year. He will be 40 next month.

B. Be going to:
Use:
a) for plans, intentions or ambitions.
e.g. Im going to buy a sports car.
b) in predictions when there is evidence that something will happen in the near
future.
e.g. Someones going to fall over that box if you dont move it.

C. To be about to
Use:
a) in reference to the immediate future
e.g. he is about to be elected president of the merged company.

D. To be to
Use:
a) for a previous arrangement
e.g. Mother is to arrive tomorrow.

E. Present Tense Simple: for timetable and official programmes:

e.g. The train leaves at eight oclock tomorrow morning.

F. Present Tense Continuous: for a future event which is planned by the speaker (the
decision is all his/hers)
e.g. I am flying to London in order to attend the matches of the national football team.

G. Future Continuous:
Use:
a) for actions which will be in progress at a stated future time.
e.g. This time next week hell be flying to Morocco.

UNIT 8: WHAT MANAGERS DO

I. Reading session:
 How do mangers occupy their time? Do they really have two our lunch breaks,
get to go in style to all the major talks, conventions and sales meetings and play tennis at
least on afternooon a week? Well, a few do, but most do not.
Actually, it is difficult to say exactly what managers do because management is a
diverse job. But besides performing technical functions they also plan work schedules,
organize resources, control performance and make managerial decision. Managers must
be skilled at geeting work done through others. At all times they must be concerned about
the effective use of human and non-human resources.
Individuals pursuing management careers move up in the organization in several
different ways. The most popular patttern is the path of progressive responsiblity. While it
is true that not everyone achieves or desires progressive level of responsibility, the
following criteria were selected for rating individuals as managers.
Leadership means effectiveness in getting ideas accepted in guiding a group or an
individual to accomplish a task.
Judgement is defined like ability to reach sound, logical conclusions based on the
information at hand.
Accountability Fulfillment is nothing else but the ability to fulfill overall
performance accountabilities as shown on the job description.
Organization and Planning means effectiveness in arranging own activities and
those of a group so as to provide effective courses of action.
Use of delegation- is the ability to involve others efficiently and to understand
where a decision can be made.
Initiative- means actively influencing events rather than passively acceting acts
without specific instructions within the scope of the assigned accountabilities.
Deciseveness is readiness to make decisions or to render propr judgements.
Ability to use problem solving process.
Professional competence (expertise) The manager must have a firm grasp of
fundamental principles and concepts in his/her profession. He can make god value
judgments and also knows sources for new information and keeps it up-to date.
Problem analysis actually is effectiveness in seeking out pertinent data in
determining the cause of the problems.
Although the tasks of a manager can be analysed and classified in this fashion,
management is not entirely scientific. It is human skill. Business professors obviously
believe that intuition and nstinct are not enough; there are management skills that have to
be learnt. Peter Drucker, for example, wrote over 20 years ago that Altogether this entire
book is based on the proposition that the days of the intuitivemanager are numbered,
meaning that they were coming to an end. But some people are clearly good at
managemet, and others are not.

II. Adjectives referring to personal qualities:

Are you a good manager? Write a brief profile of yourself (approximately five lines),
outlining yor personal qualities and highlighting any strengths and weaknesses you feel
ou have. Use the lists below.

STRENGTHS: confident, enterprising, humorous, ambitious, helpful, competitive, open

to change, thorough, tolerant, caring, prudent, focused, supportive, generous, logical,
rational, analytical, communicative, authoritative, persuasive, decisive, efficient, friendly,
sociable

WEAKNESSES: arrogant, oppportunistic, frivolous, ruthless, controlling, bullying,

wishy-washy, obsessive, uncaring, nosy, indecisive, tunnel-visioned, narrow-minded,
interfering, irresponsible

III. The adjective: the degrees of comparison

Adjecivul partea de vorbire care exprim o calitate a unui obiect (an interesting lecture;
an old man), are categoria gramatical a comparaiei (He is taller than his brother) si care
spre deosebire de limba romn unde are flexiune dup gen, numr, caz i comparaie,
adjectivul n limba englez nu se schimb dup gen, numr i caz. Categoria comparaiei
este concretizat n limba englez ca i n limba romn n trei grade de comparaie:
Gradul pozitiv, nemarcat arat prezena normal a unei caliti a obiectelor, fr a se face
vreo comparaie: He is tall; She is beautiful.
Gradul comparativ compar dou obiecte, indicnd prezena calitii la obiectele
comparate n msur egal (comparativul de egalitate),sau n msur inegal
(comparativul de superioritate i de inferioritate);
Gradul superlativ arat c un membru al unui grup posed calitatea comparat 3n cel mai
nalt grad, prin intermediul unei comparaii directe (superlativ relativ:She is the cleverest
of all.)sau fr comparaie direct (superlativ absolut: Sh is very clever).
In limba engleza avem dou tipuri de comparaie, in funcie de numrul de silabe din care
sunt formate adjectivele: sintetic, specific adjectivelor monosilabice i adjectivelor
bisilabice terminate n y, -le; -er; - ow, marcat prin adugarea grupurilor -er pentru
comparativ i -est pentru superlativ; analitic, specific adjectivelor plurisilabice i care
se formeaz din adjectivul la gradul pozitiv precedat de adverbele more i the most.

A. Comparaia sintetic:
Adjective monosilabice: small smaller- smallest
Short shorter - shortest

Probleme de ortografie:
1) Adjectivele terminate ntr-o consoan precedat de vocal scurt dubleaz consoana:
big- bigger- the biggest; hot- hotter- the hottest; fat- fatter- the fattest;

2) Adjectivele terminate n consoan + y transform y n i: dry-drier- the driest

3) Adjectivele terminate n e sau ee, pierd pe efinal naintea lui er sau est: nice
nicer- nicest; free freer- freest

Adjectivele bisilabice: terminate n y, -le, -er, -ow i some formeaza

comparativul tot n mod sintetic:
Happy happier- happiest; clever- cleverer the cleverest; narrow- narrower- the
narrowest;

Excepii: eager, proper, fertile, hostile, fragile se compara n mod analitic. De asemenea
adjectivele bisilabice terminate n doua consoane: correct, distinct, exact, intact, etc
formeaz comparativul i superlativul numai cu more i the most.

B. Comparaia analitic: Adjectivele formate din dou sau mai multe silabe formeaz
comparativul i superlativul analitic cu ajutorul lui more i the most.

Careful more careful - the most careful

Difficult- more difficult the most difficult

Adjectivele compuse formeaz gradele de comparaie n felul urmtor:

a) cnd primul element este un adjectiv care i pstreaz sensul, acesta se schimb la
comparativ i superlativ:

well-known better known- the best known

ill-paid- worse paid- the worst paid
intelligent looking- more-intelligent looking- the most intelligent-looking

b) cnd cele dou elemente formeaz un tot din punct de vedere al sensului, comparaia
se realizeaz cu more i the most:

absent-minded more absent mindedthe most absent-minded

C. Formarea comparativului de egalitate i inferioritate Comparativul de egalitate se

exprim prin adjectivul la gradul pozitiv precedat i urmat de conjuncia as: My room is
as large as hers.

Comparativul de inferioritate se exprim prin adjectivul la gradul pozitiv precedat de not

so/as i urmat de as sau cu structura less .. than; My assignment is not as easy as
yours.; This lecture is less interesting than the previous one.

D. Comparaia neregulat a adjectivelor

Unele adjective formeaz comparativul i superlativul n mod regulat:

POZITIV COMPARATIV SUPERLATIV

good better The best
bad worse The worst
Much/many more The most
little less The least
old Older The oldest
Elder (folosit numai The eldest
atributiv) (mai batrin, mai n
 vrsta, referitor la persoane
din aceeasi familie)
far Farther (mai departat) The farthest (cel mai
Further (mai departat; departat)
additional; suplimentar) The furthest (cel mai
deprtat)
late Later (mai trziu) The latest( cel mai trziu,
The latter (cel de-al doilea, cel mai recent, cel mai nou);
ultimul din doi) the last (ultimul)
near Nearer (mai apropiat) The nearest (cel mai
apropiat);
The next (urmtorul)

BIBLIOGRAPHY:

Ciuciuc, Olea, English for Business Purposes, Teora, Bucureti 1999.

Emmerson, Paul, Business Grammar Builder, Macmillan, 2002.
Evans V. , Grammarway 4, Express Publishing House, 1999.
Evans V. , Grammarway 3, Express Publishing House, 1999.
Paidos, Constantin, Gramatica limbii engleze, Institutul European, 1993.
Tullis, G., New Insights into Business, Express Publishing House, 2004.
Turcu, Fulvia, Limba englez pentru ntreprinztori i oameni de afaceri,
Editura Sagittarius Iai, 1991.