Speaking. 1. Make a short report on the topic “Goods and services: what is

1. Make a short report on the topic “Goods and services: what is

common and in what do they differ?”

2. Speak on the production development. Give your own examples.

3. Compare Product Life Cycle and Business Cycle. What do they

have in common? In what do they differ?

4. Take as an example any product you like and describe how the

principles of product identification work.

5. If you are to choose between goods and service sector to work in,

what would you choose? Give your reasons.

6. The production process is thought of as “an input-transformation-

output system” Explain each element of this definition.

7. What are the differences between standard and custom-made

products? Give your own examples.

8. In which areas of production does the law of supply and demand

have the greatest influence on prices? How do you account for this?

9. Decide on the criteria for evaluating a product/ service.

10. Speak on different types of products. Use the information from

both the Unit and Appendix.

11. Sum up the information of the Unit (100–120 words).

Writing

1. Give your arguments in favour of creating product identification.

Do it in written form (150–200 words)

2. Explain the importance of product design. Give your point of view

in written form (150–200 words).

Key Vocabulary

goods

warranty

purchase

brand

grade

guarantee

services

complementary

tangible

intangible

inputs

output

production

seller

buyer

volatile

customize

collaborator

finished goods

costly

package

ergonomics

custom products

ratio

customer-oriented

average

time-consuming

shelf life

generic products

hazard

quality

label

trademark

consumer

custom-made

mature

consumption

product life cycle

standard products

increase

decrease

offer

wholesaler

retailer

decline

Unit III

BUSINESS ORGANIZATION