Cizojazyčná příprava AJ 4
Distanční studijní text
Martina Chylková, Janusz Karpeta
Karviná 2018
SLEZSKÁ
U N I V E R Z I T A
OBCHODNĚ PODNIKATELSKÁ
FAKULTA V KARVINÉ
Obor: Jazykověda.
Klíčová slova: Economics, firm, employment, unemployment, banks, money, market,
marketing.
Anotace: Opora Cizojazyčná příprava AJ 4 je určena pro studenty prezenční i
distanční formy studia a svým rozsahem odpovídá výuce anglického jazyka
za čtvrtý semestr na ekonomických fakultách. Opora je rozvržena
do sedmi tematických okruhů - Economics, Banks, Money, Market,
Marketing, Employment, Unemployment a obsahuje také anotaci,
včetně klíčových slov. Kapitoly jsou rozčleněny do následujících částí:
slovní zásoba, text a otázky k textu, nácvik lexika a gramatiky a na konci
následuje test. Jednotlivé kapitoly si kladou za cíl procvičit, prohloubit a
zdokonalit si znalosti v anglickém jazyce v oblasti týkající se ekonomie,
bank, peněz, trhu, marketingu, zaměstnanosti a nezaměstnanosti. Tomu
je přizpůsobena slovní zásoba a cvičení. Vybraná obchodní témata připravují
svou odbornou slovní zásobou, nácvikem lexika a gramatiky či
testů na konci kapitol na typizované a z velké části autentické obchodní
situace z jazykového hlediska. Závěrečná část se věnuje aktivnímu nácviku
všech nejběžnějších spojení, frází či jiných obchodních obratů,
které moderní obchodní angličtina využívá. Materiál celkově tvoří základ
pro zvládnutí jednotlivých problematik v praxi a usnadní posluchačům
lépe se adaptovat na cizojazyčné firemní prostředí. Jedním z klíčových
výstupů opory Cizojazyčná příprava AJ 4 je kromě zvládnutí slovní
zásoby, cvičení lexika či gramatiky také umění pracovat s odborným textem
a v neposlední řadě posílení komunikativních dovedností v moderním
profesním podnikatelském prostředí.
Autor: Mgr. Martina Chylková, PhDr. Janusz Karpeta
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
Obsah
ÚVODEM 5
RYCHLÝ NÁHLED STUDIJNÍ OPORY 6
1 ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT 7
1.1 Vocabulary 7
1.2 Economics 9
1.3 Grammar - Describing trends 15
1.4 Grammar - Passive voice 17
1.5 Test 19
1.6 Key 20
1.6.1 Test 26
2 BANKS 29
2.1 Vocabulary 29
2.2 The Czech National Bank 30
2.3 Organizational structure 38
2.4 Bank activities and operations. Bank products 38
2.5 Test 40
2.6 Key 42
2.6.1 Test 48
3 MONEY 51
3.1 Vocabulary 51
3.2 Money 52
3.3 Interest rate 55
3.4 Financial market 57
3.5 Test 60
3.6 Key 62
3.6.1 Test 65
4 MARKET 68
4.1 Vocabulary 68
4.2 Market 69
4.3 Functions of a market 72
4.4 Competition 73
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
4.5 Costs 74
4.6 Test 75
4.7 Key 78
4.7.1 Test 79
5 MARKETING 82
5.1 Vocabulary 82
5.2 Marketing 84
5.3 International marketing 96
5.4 Test 101
5.5 Key 104
5.5.1 Test 109
6 EMPLOYMENT 113
6.1 Vocabulary 113
6.2 Employment 114
6.3 Test 125
6.4 Key 128
6.4.1 Test 134
7 UNEMPLOYMENT 137
7.1 Vocabulary 137
7.2 Unemployment 138
7.3 Unemployment rate 139
7.4 Unemployment benefits 140
7.5 Unemployment and inflation 141
7.6 Test 144
7.7 Key 146
7.7.1 Test 147
DICTIONARY 150
LITERATURA 158
SHRNUTÍ STUDIJNÍ OPORY 159
PŘEHLED DOSTUPNÝCH IKON 160
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
ÚVODEM
Opora Cizojazyčná příprav AJ 4 je určena pro studenty prezenční i distanční formy
studia a svým rozsahem odpovídá výuce anglického jazyka ve čtvrtém semestru na ekonomických
fakultách a navazuje na sylabus daného předmětu. Opora je rozvržena do sedmi
tematických okruhů - Economics, Banks, Money, Market, Marketing, Employment,
Unemployment a obsahuje také anotaci, včetně klíčových slov. Kapitoly j sou rozčleněny
do následujících částí: slovní zásoba, text a otázky k textu, nácvik lexika a gramatiky a na
konci následuje test. Jednotlivé kapitoly si kladou za cíl procvičit, prohloubit a zdokonalit
si znalosti v anglickém jazyce v oblasti týkající se ekonomie, bank, peněz, trhu, marketingu,
zaměstnání a nezaměstnání. Tomu je přizpůsobena slovní zásoba a cvičení. Vybraná obchodní
témata připravují svou odbornou slovní zásobou, nácvikem lexika a gramatiky či
testů na konci kapitol na typizované a z velké části autentické obchodní situace z jazykového
hlediska. Závěrečná část se věnuje aktivnímu nácviku všech nejběžnějších spojení,
frází či jiných obchodních obratů, které moderní obchodní angličtina využívá. K tomu je
přizpůsobena slovní zásoba a cvičení. Vybraná obchodní témata připravují svou odbornou
slovní zásobou, nácvikem lexika a gramatiky či testů na konci kapitol na typizované a z
velké části autentické obchodní situace z jazykového hlediska. Závěrečná část Dictionary
se věnuje aktivnímu nácviku všech nejběžnějších spojení, frází či jiných obchodních obratů,
které moderní obchodní angličtina využívá.
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
RYCHLÝ NÁHLED STUDIJNÍ OPORY
Studijní opora Cizojazyčná příprava AJ 4 je rozdělena do sedmi kapitol, které navazují
na předcházející části a rozvíjejí další témata obchodní angličtiny, případně je prohlubují.
Kapitoly sledují různé dovednosti v oblasti lexikální a také gramatické. V každé kapitole
se objevují shodné prvky - např. úvodní text, slovní zásoba, závěrečný test apod. Ke snadnější
orientaci studenta slouží tzv. distanční prvky - Průvodce studiem (obsahuje slovní
zásobu k tématu), Otázky, Odpovědi, Samostatný úkol apod. Samostatný úkol a Úkol k zamyšlení
slouží k samostatné přípravě k dané problematice a bude předmětem diskuse na
seminářích nebo tutoriálech. V průběhu lekce si student může zkontrolovat úroveň znalostí
pomocí testů, které jsou vkládány dle potřeby, a rovněž každá kapitola je zakončena souhrnným
testem, který prověří zvládnutí dané problematiky. V závěru opory je umístěn
slovník, který je shrnutím základní slovní zásoby užívané v obchodní angličtině. Každá
lekce j e opatřena klíčem ke cvičením, která to vyžaduj í. Odpovědi na otázky za textem j sou
dohledatelné v textu.
Kapitoly 1 a 2 se zabývají tématy Economics a Banks s cílem připravit studenty na
problematiku makroekonomie, mikroekonomie, terminologii s ekonomií.
Kapitoly 3 a 4 se soustřeďují na peníze a trh Money a Market se zaměřením nejen na
typy peněz, úrokové sazby a finanční trhy, ale také na prvky trhu, poptávku a nabídku,
fukce trhu, konkurenci a náklady.
Kapitoly 5 a 6 se věnují oblasti Marketing a Employment, zvláště pak marketingovému
mixu, plánu a stratégii, dále pak inflaci, zaměstnanosti, honocenía pracovním bene-
fitům.
Poslední kapitola Unemployment řeší problematiku nezaměstnanosti, její míru, dávky
a také inflaci.
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
1 ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOY­
MENT
RYCHLÝ NÁHLED KAPITOLY
Tato kapitola se bude zabývat problematikou z oblasti ekonomie, jejím základním členěním,
bohatou slovní zásobou z dané oblasti, dále prací s textem a celou řadou lexikálních
cvičení. Výstupem je zvládnutí nejběžnějších situací z oblasti ekonomie v anglickém jazyce
a osvojení si nej potřebnější slovní zásoby.
V gramatické části se zaměříte na trpný rod a jeho použití.
CÍLE KAPITOLY
Po absolvování kapitoly budu umět:
• Pojmenovat prvky ekonomie,
• Vysvětlit makro a mikroekonomii,
• Úspěšně přečíst, porozumět a reagovat na současné obsahy obsažené v ekonomických
textech,
• Pohovořit o vybraných aktuálních ekonomických trendech,
• Vyjadřovat se v oblasti moderní ekonomie.
KLICOVA SLOVA KAPITOLY
Allocation, economics, firm, household, macroeconomics, microeconomics, need, scarcity,
state, product, resource, wants.
1.1 Vocabulary
asset aktivum
authority úřad
balance of trade and payments obchodní a platební bilance
branch odvětví
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ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT
business cycle hospodářský cyklus
commodity zboží
competition konkurence
conditions podmínky
consumer spotřebitel
consumption spotřeba
distribution rozdělování
economic growth ekonomický růst
economic ekonomický
economical hospodárný
enterprise podnik
entity jednotka
equilibrium rovnováha
exchange rate směnný kurz
expenditure výdaj
firm firma
fiscal policy fiskální politika
government spending vládní výdaj e
household domácnost
income příjem, důchod
inflation inflace
interest rate úroková sazba
issues otázky
labour market regulations dohled nad pracovním trhem
liability pasivum
loss ztráta
means prostředky
monetary policy peněžní politika
money supply peněžní zásoba
needs potřeby
non-profit organization nezisková organizace
output výroba, produkce
owner vlastník
ownership vlastnictví
performance výkon
principle princip, zásada
production výroba
profit zisk
progress pokrok
property majetek
resource zdroj
revenue výnos, tržba
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
1.2 Economics
Economics, as it is referred to in the social science, studies the production, distribution,
and consumption of goods and services. An emphasis of the subject is placed on how economic
subjects behave or interrelate and how economies work.
In modern professional literature we can distinguish three main types of subjects, being
at the same time the most significant agents of exchange and other economic economies.
The following diagram depicts the main roles each of the economic agents plays. Households
involve individuals being treated as regular household members. Firms are considered
as business entities. Finally, the state is perceived as central authorities.
Another possible way of how to classify economics relates to the presence of different
economic agents, their interest, involvement and effect in economic matter. Along with
that, we can relate to two basic forms of economics i. e.macroeconomics and microecono­
mics.
Macroeconomics is involved in examining the economy on a national or regional level
as a whole. This includes the analysis of the entire economy and various aspects affecting
it. At this point, we can draw attention to business cycle, unemployment, inflation, economic
growth or stagnation, and monetary and fiscal policy, policies of the government, as
well as output and income, balance of trade and payment, etc. In order to do so, it applies
money supply and interest rate, taxes and government spending, exchange rates and labour
market regulations. All things considered, it provides data and analyses of the complete
economic development. Macroeconomists summarizes them into recommendations on improvements
in significant ways.
Microeconomics studies how the subjects of smaller size than the state behave. For the
most part, it focuses on the examination of households and companies as far as production
and consumption, sale and purchase are concerned. At the same time, it concentrates on
everyday company activities such as management of economic matters, accounting, statistics,
marketing, etc.
Zdroj: Kaftan, M., New English in Economics. Karolinum, Praha 2010.
OTÁZKY
1 Clarify the basics of economics.
2 Specify the distinction between households, firms and the state in economics.
3 Explain the basic classification of economics.
4 What are some typical economic activities of macroeconomics?
5 What are some typical economic activities of microeconomics?
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LEXIS
1.1 Match the economic related terms to the definitions in Czech:
1.
2.
3.
4.
5.
6.
7.
10.
1. zdroj a) need
2. služba b) wants
3. výrobek c) resource
4. nedostatek, vzácnost d) service
5. rozdělování e) product
6. potřeba f) scarcity
7. přidělení g) distribution
8. spotřeba h) allocation
9. přání i) goods
10. zboží j) consumption
1.2 Translate the following economic expressions into English:
1. nedostatek surovin ...
2. ekonomický princip ...
3. finanční rovnováha ...
4. úroková míra ...
5. rozvojová ekonomika ...
6. parita kupní síly ...
7. princip vlastního jmění ...
8. průmyslové odvětví ...
9. příčiny nezaměstnanosti ...
10. hospodářská politika ...
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
1.3 Translate the following statements into Czech:
1. Unemployment in Britain fell to its lowest level in nearly a year in the second qu­
arter.
2. The UK economy has added about half a million jobs since 2010.
3. The number of people who were working part-time because they said they could
not find full-time work rose by 16,000 over the quarter to reach a fresh record.
4. The implication is that either the economy is doing appreciably better than the national
accounts data show, the labour market is doing significantly worse than the
hard data show, or productivity has genuinely weakened sharply.
5. This month, the BoE's Monetary Policy Committee, concerned by the UK's very
poor productivity growth, forecast for the first time that the economy would not
spring back to normal growth rates within two years.
6. Not all the jobs data were positive. After stripping out those jobseekers that were
also full-time students, the youth unemployment rate rose slightly from 20.2 to 20.3
percent.
7. On Tuesday, UK consumer prices data are expected to show that the annual rate of
inflation remained at 2.4 per cent in July, having dropped to this level in June from
2.8 per cent in May, as retailers continued to discount goods.
8. There was some evidence in a recent British Retail Consortium survey of higher
spending on food and drink to celebrate the games at home, but this may have been
offset by the impact of cool, wet weather earlier in the month.
9. There has been much speculation of an "Olympic effect" on growth in the third
quarter, with hundreds of thousands of extra visitors to the UK this summer.
10. At the national level, we can expect a wide divergence in relative performance, with
Germany the only large euro-area economy likely to avoid a negative quarterly rate.
1.4 What are the opposites in economics?
1. expenditure
2. abundance
3. output
4. microeconomics
5. efficiency
6. shortage
1.5 Try to find two-word combinations as many as it is possible: Try to find different
two-word combinations:
market, policy, mechanism, price, structure, system, economy
1.6. Replace each definition by a single word:
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ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT
a) somebody who is an expert in the filed of economics ...
b) the quantity of a type of goods or services available in a market at a given time ...
c) the quantity of goods and services in relation to the amount of materials, number of
workers and or time needed ...
d) a state or situation in which opposing forces or factors balance each other out and
stability is attained ...
KONTROLNÍ OTÁZKA
1.7 Read the following statements and decide whether they are true or false:
1. Economics is rooted in natural science.
2. Economics studies production, distribution and consumption.
3. In modern professional literature we can differentiate six main types of subjects,
being at the same time the most significant agents of exchange and other
economic economies.
4. Households involve enterprises being treated as regular household members.
5. In economics, needs and wants do not mean the same thing.
SAMOSTATNÝ ÚKOL
1.8. Read the following article and choose the most suitable answer:
General Motors Co will build the next generation of its Astra compact in Britain after
workers at its factory in Ellesmere Port, northwest England, overwhelmingly agreed to a
new labour deal, leaving its plant in Bochum, Germany in danger of closure.
The U. S.carmaker said on Thursday it would invest 125 million pounds in the Ellesmere
Port plant, where assembly of the new vehicle will start in 2015.
Britain's Unite union said 94 percent of those balloted voted in favour of changes to
working conditions and that some 700 jobs would be created at the plant, securing its future
until 2020.
"It's almost certain that one of GM's German plants will now be closed, probably the
plant in Bochum," a source close to the negotiations said.
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
GM, which sells under the Vauxhall brand in Britain, is expected to halt production of
the Astra, its most important model, at its main plant in Russelsheim, Germany, making the
car only at Ellesmere Port and at Poland's Gliwice plant from 2015.
The source added that some production of GM's Chevrolet marque could be shifted from
Asia to Europe, with Russelsheim the likely beneficiary. This would leave the Opel factory
at Bochum as the most likely site to be closed.
The decision is one of the most dramatic so far as Europe's carmakers look to restructure
or consolidate in response to more than four years of falling demand and profits.
Many factories are running at partial capacity - analysts estimate automakers have cut
some 3 million cars, or 20 percent, from their production lines - and still producers struggle
to sell their wares.
BusinessEnglish.com: Business English Reading Comprehension, [online], [cit. 2012-10-04]. Dostupné z:
http://www.businessenqlishsite.com/readinacomprehension/source/readinacomp-1.html
1. According to the article, which GM plant will likely be closed?
a) The plant in Russelsheim, Germany
b) The plant in Ellesmere Port, England
c) The plant in Bochum, Germany
2. The article states that from 2015, the Astra will no longer be produced in
a) Gliwice, Poland
b) Russelsheim, Germany
c) Ellesmere Port, England
3. Does GM own the Vauxhall brand?
a) Yes.
b) No.
c) It is not specified in the article.
4. How many years of falling demand and profits has GM seen, according to the
article?
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ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT
a) three
b) four
c) two
5. The workers at GM's UK plant .
a) will soon be voting on a new labor contract
b) rejected a proposed labor contract
c) agreed to a new labor contract
I V I K ZAPAMATOVÁNÍ
1.9. Read the summary of the first chapter Economics and translate and write
down the keywords in bold into Czech:
Economics is a a) social science which studies human behaviour and life in society from
the economic point of view based on the fact that, generally, people have b) unlimited
wants and needs, whereas c) resources are d) scarce. The main e) subjects of economics
are f) households, g) companies and h) the state.
The primary classification of economics divides it into two areas, i) macroeconomics
and j) microeconomics. Macroeconomics examines economic processes and phenomena
in k) aggregates for a particular 1) country, m) integration or n) the whole world. Microeconomics
is concerned with households and companies.
Every society must solve three elementary economic questions: what, how and for
whom to produce. Accordingly, attention has to be paid to o) production, p) distribution,
r) exchange and s) consumption of products. Practical economic problems of a region or
country are solved within t) a complex of realized economic activities called the regional
or national economy. Various economies can answer the three basic questions in different
ways which have given names to four types of economic system: u) the custom, v)
command, w) market and z) mixed economy.
Studies and analyses of economic matters resulted in numerous economic theories
which have tried to identify the causes of unfavourable developments and propose teh best
ways leading to stability and wealth.
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
a) ... b) ... c) ... d) ... e) ... f) ... g) ... h) ... i) ... j) ... k) ... 1) ... m) ... n) ... o) ...
p) ... r) ... s) ... t) ... u) ... v) ... w) ... z) ...
1.3 Grammar - Describing trends
V odborné angličtine se můžeme setkat s celou řadou sloves, která popisují určité
trendy. Nyní si prostudujme následující příklady.
1/ slovesa, která vyjadřují trendy směrem nahoru - např. to rise / to jump / to grow / to
climb / to go up / to increase / to rocket
21 slovesa, která vyjadřují trendy směrem dolů - např. to fall / to drop / to decline / to
decrease / to go down / to plunge / to plummet
3/ slovesa, které vyjdřují trendy beze změny - např. to stay constant / to remain steady /
to maintain stable
4/ s těmito slovesy se nejčastěji pojí celá řada příslovci - např. sharply / quickly / rapidly
/ steeply / considerably / significantly / substantially / steadily / gradually / moderately /
slightly / slowly
5/ nejčastěji se s těmito slovesy pojí předložky by, from a to
Nyní následují příklady k uvedeným bodům 1, 2, 3, 4 a 5.
PŘÍKLAD 1
Prices are rising / going up/ increasing this year.
PŘÍKLAD 2
Sales fell / went down / decreased between 2016 and 2017.
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ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT
PŘÍKLAD 3
Sales remained stable last month.
PŘÍKLAD 4
Sales dropped considerably / significantly / substantially last week.
PŘÍKLAD 5
Our market share rose by 2%, from 7% to 9%.
GRAMMAR-EXERCISES
1.10 Complete the text with the correct form of the verb in brackets:
past simple or present continuous as well as the correct preposition: by,
from or to.
Social trends in the UK
Marriage and divorce
Between 1984 and 1996, the number of new marriages (fall) 1
by
19,78%, from / by2
395,800 to 317,500. In the same period, the number
of divorces (go up) 3
by / from 4
16,88% to 168,900.
Living alone
Now more and more people (decide) 5
to live alone. The percentage
of one-person homes (rise) 6
from 10% in 1984 to / by7
12% in
1995. The average household size also (fall) 8
at the moment. In
1984 it was 2.59 people per household, but now it is less than 2.4.
An ageing population
Currently, the number of retired people (increase) 9
In 1994, life
expectancy (go up) 1 0
from / to 1 1
73.9 years for men, and 79.2
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
years for women. Between 1984 and 1997, the number of people over 75
years of age (increase) 1 2
by / from 1 3
14.3%, and this number
(continue) 1 4
to rise now.
A fall in births
Currently, the number of children also (fall) 1 5
. From 1984 to 1997,
the number of new births (go down) 1 6
by / from 1 7
3.8.% to
725.800.
1.4 Grammar - Passive voice
Trpný rod v anglickém j azyce má velice podobné použití j ako v j azyce českém. Používáme
ho, neznáme-li, nebo nechceme-li záměrně ve větě uvést činitele.
1/jestliže osoba, která akci provádí je neznámá, nedůležitá nebo zřejmá z kontextu
21 jestliže akce samotná je důležitější než osoby, které akci provedly (novinové titulky,
zprávy, instrukce, formální upozornění, inzeráty apod.)
3/ jestliže chceme, aby naše vyjádření vyznělo slušněji
4/ jestliže předmět činé věty je důležitější
5/ pokud chceme uvést činitele, tedy toho, kdo akci provedl, použijeme předložku BY
Nyní uvádíme další příklady k výše zmíněným pravidlům:
PŘÍKLAD 1
Renault cars are made in France.
PŘÍKLAD 2
The offices over the street have been bought.
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ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT
PŘÍKLAD 3
This contract has been annulled.
PŘÍKLAD 4
A description of the new model was made by the designer.
PŘÍKLAD 5
This report was written by Jane.
GRAMMAR-EXERCISES
1.11 Use the passive forms:
1. The manager cancelled the meeting. - ...
2. Did someone tell the staff members about the business trip?
3. They haven't announced the opening date yet.
4. A stone hit my car.
5. Someone had burgled his office.
6. New employees will organise the Christmas party themselves.
7. Clare didn't write that note.
8. Someone is painting our offices. -
9. People saw a new prototype of an airplane in the sky. -
10. The organisers will divide the prize money between the two winners.
SAMOSTATNÝ ÚKOL
Search for an article in English, which deals with the current economic related issues
in the modern world. First, prepare a copy for each of your classmates, second, read it
together, third, translate the new words into Czech, then prepare some relevant questions
and discuss them with your classmates. Take turns until everyone has done so.
18
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
OTÁZKY
m
1.5 Test
1. Hopefully, the economic recovery that
the governments are preparing will improve the current situation in
the European Union countries.
• pack
• package
box
2. The Czech government wants to some
of the corporations.
• take out
• bail out
give out
3. The latest news on the stock market says it again
today.
• downed
• fell down
plunged
4. According to the latest statistics data in this country, the unemployment
rate has been holding over the
past couple of months.
• sturdy
• steady
• steadfast
5. Many company's debt in Central Europe
is pretty high.
• load
• consolidation
management
6. Due to the mounting competition on the local market, the company
plans to reduce its by 5%.
19
ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT
• labour
• work
• workforce
7. The German government to provide
more tax breaks for the middle class.
• pleaded
• plagued
• pledged
8. A "housing " , which started in the US few years
ago, refers to a rapid increase in real estate prices, followed by a sharp
decline, as people were not able to pay such high prices.
• bobble
• babble
• bubble
9. Low interest rates in Greece were one of the
factors of the current financial crisis.
• precipitating
• presupposed
• promising
10. Some European governments want to
their economic growth.
• stretch
• spur
• stifle
ODPOVEDI
1.6 Key
LEXIS-EXERCISES
1.1 Match the economic related terms to the definitions in Czech:
20
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
2. D 7. H
3. E 8. J
4. F 9. B
5. G 10. I
1.2 Translate the following economic expressions into English:
1. nedostatek surovin ... shortage of raw materials
2. ekonomický princip ... economic principle
3. finanční rovnováha ... financial balance
4. úroková míra ... interest rate
5. rozvojová ekonomika ...developing economy
6. parita kupní síly ... purchasing power parity
7. princip vlastního jmění ... principle of equity
8. průmyslové odvětví ... industrial branch
9. příčiny nezaměstnanosti ... causes of unemployment
10. hospodářská politika .. economic policy
1.3 Translate the following statements into Czech:
1. Unemployment in Britain fell to its lowest level in nearly a year in the second
quarter.
Nezaměstnanost v Británii klesla téměř ročně na nejnižší úroveň v druhém
čtvrtletí.
2. The U K economy has added about half a million jobs since 2010.
Ekonomika Spojeného království přispěla k tvorbě půl miliónů pracovních
míst od roku 2010.
3. The number of people who were working part-time because they said they could
not find full-time work rose by 16,000 over the quarter to reach a fresh record.
Počet lidí, kteří pracovali na částečný úvazek, řekli, že nemohli najít práci na
plný úvazek, se zvýšil o 16.000 více za čtvrtletí a dosáhl nového rekordu.
4. The implication is that either the economy is doing appreciably better than the national
accounts data show, the labour market is doing significantly worse than the
hard data show, or productivity has genuinely weakened sharply.
Z toho vyplývá, že buď ekonomika je na tom výrazně lépe, než ukazují údaje
národních účtů, nebo pracovní trh je na tom podstatně hůř než ukazují
reálné údaje, anebo se produktivita skutečně výrazně oslabila.
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ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT
5. This month, the BoE's Monetary Policy Committee, concerned by the UK's very
poor productivity growth, forecast for the first time that the economy would not
spring back to normal growth rates within two years.
Tento měsíc, Výbor pro měnovou politiku Bank of England, který je znepokojen
velmi špatným růstem produktivity, poprvé předpověďěl, že ekonomika
se dostane zpět do normálního tempa růstu v horizontu dvou let.
6. Not all the jobs data were positive. After stripping out those jobseekers that were
also full-time students, the youth unemployment rate rose slightly from 20.2 to 20.3
per cent.
Ne všechny údaje o pracovních příležitostech byly pozitivní. Když vyřadíme
uchazeče o zaměstnání, kteří byli také studenty denního studia, míra nezaměstnanosti
mladých lidí se mírně zvýšila z 20,2 na 20,3 procent.
7. On Tuesday, U K consumer prices data are expected to show that the annual rate
of inflation remained at 2.4 per cent in July, having dropped to this level in June
from 2.8 per cent in May, as retailers continued to discount goods.
V úterý, se ve Spojeném království očekává, že údaje o spotřebitelských cenách
ukážou, že roční míra inflace zůstane na 2,4 procentech v červenci poté, co
klesla na tuto úroveň v červnu z 2,8 procenta v květnu, zatímco obchodníci
i nadále snižují ceny zboží.
8. There was some evidence in a recent British Retail Consortium survey of higher
spending on food and drink to celebrate the games at home, but this may have been
offset by the impact of cool, wet weather earlier in the month.
Existují určité důkazy v nedávném průzkumu společnosti British Retail Consortium,
které se týkají vyšších výdajů na jídlo a pití na oslavu olympiády
z domova, což ale lze chápat jako výsledek chladného a vlhkého počasí
dříve v měsíci.
9. There has been much speculation of an "Olympic effect" on growth in the third
quarter, with hundreds of thousands of extra visitors to the U K this summer.
Objevily se spekulace spojené s "olympijským vlivem" na růst ve třetím čtvrtletí,
se stovkami tisíc dalších návštěvníků ve Velké Británii letos v létě.
10. At the national level, we can expect a wide divergence in relative performance,
with Germany the only large euro-area economy likely to avoid a negative quarterly
rate.
Na národní úrovni, můžeme očekávat značné rozdílnosti v relativním výkonu,
kdy Německo jako jediná velká ekonomika eurozóny by se mohla vyhnout
negativní čtvrtletní sazbě.
1.4 What are the opposites in economics:
22
Martina Chylkova, Janusz Karpeta - Cizojazycnd pfiprava AJ 4
1. expenditure income
2.abundance scarcity
3. output input
4. microeconomics macroeconomics
5. efficiency inefficiency
6. shortage surplus
1.5 Try to find two-word combinations as many as it is possible: Try to
find different two-word combinations:
market, policy, mechanism, price, structure, system, economy
e.g.: market economy, price policy, market mechanism, market structure, price
system, market system, market price, price mechanism
1.6 Replace each definition by a single word:
a) somebody who is an expert in the filed of economics ... economist
b) the quantity of a type of goods or services available in a market at a given time ...
supply
c) the quantity of goods and services in relation to the amount of materials, number of
workers and or time needed ... productivity
d) a state or situation in which opposing forces or factors balance each other out and
stability is attained ... equilibrium
1.7 Read the following statements and decide whether they are true or
false:
1. F
2. T
3. F
4. F
5. T
1.8 Read the following article and choose the most suitable answer
1. According to the article, which GM plant will likely be closed?
a) The plant in Russelsheim, Germany
b) The plant in Ellesmere Port, England
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ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT
c) The plant in Bochum, Germany
2. The article states that from 2015, the Astra will no longer be produced in
a) Gliwice, Poland
b) Russelsheim, Germany
c) Ellesmere Port, England
3. Does GM own the Vauxhall brand?
a) Yes.
b) No.
c) It is not specified in the article.
4. How many years of falling demand and profits has GM seen, according to the
article?
a) three
b) four
c) two
5. The workers at GM's UK plant .
a) will soon be voting on a new labor contract
b) rejected a proposed labor contract
c) agreed to a new labor contract
1.9. Read the summary of the first chapter Economics and translate and
write down the keywords in bold into Czech:
Economics is a a) společenská věda which studies human behaviour and life in
society from the economic point of view based on the fact that, generally, people
have b) neomezené přání and potřeby, whereas c) zdroje are d) vzácné. The main
e) subjekty of economics are f) domácnosti, g) firmy and h) stát.
The primary classification of economics divides it into two areas, i) makroekonomie
and j) mikroekonomie. Macroeconomics examines economic processes and
24
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
phenomena in k) celek for a particular 1) země, m) integrace or n) celý svět. Microeconomics
is concerned with households and companies.
Every society must solve three elementary economic questions: what, how and for
whom to produce. Accordingly, attention has to be paid to o) výroba, p) distribuce,
r) výměna and s) spotřeba produktů. Practical economic problems of a region or
country are solved within t) a celek realizovaných ekonomických činnosti called
the regional or national economy. Various economies can answer the three basic
questions in differetn ways which have given names to four types of economic system:
u) the zvyková, v) plánovaná, w) tržní and z) smíšená ekonomika.
Studies and analyses of economic matters resulted in numerous economic theories
which have tried to identify the causes of unfavourable developments and propose
teh best ways leading to stability and wealth.
a) společenská věda b) neomezené přání a potřeby c) zdroje d) vzácné e) subjekty
f) domácnosti g) firmy h) stát i) makroekonomie j) mikroekonomie k) celek
1) země m) integrace n) celý svět o) výroba p) distribuce r) výměna s) spotřeba
produktů t) celek realizovaných ekonomických činnosti u) zvyková v)
plánovaná w) tržní z) smíšená
1.10 Complete the text with the correct form of the verb in brackets:
past simple or present continuous as well as the correct preposition: by,
from or to.
Social trends in the UK
Marriage and divorce
Between 1984 and 1996, the number of new marriages fell1
by 19,78%,
from2
395,800 to 317,500. In the same period, the number of divorces
went up3
by4
16,88% to 168,900.
Living alone
Now more and more people are deciding5
to live alone. The percentage of
one-person homes rose6
from 10% in 1984 by7
12% in 1995. The average
household size also falling8
at the moment. In 1984 it was 2.59 people
per household, but now it is less than 2.4.
An ageing population
25
ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT
Currently, the number of retired people is increasing9
In 1994, life expectancy
went up1 0
to 1 1
73.9 years for men, and 79.2 years for women. Between
1984 and 1997, the number of people over 75 years of age in-
creased12
by13
14.3%, and this number is continuing 1 4
to rise now.
A fall in births
Currently, the number of children also is falling15
. From 1984 to 1997, the
number of new births went down16
by17
3.8.% to 725.800.
1.11 Use the passive forms:
1. The manager cancelled the meeting. - The meeting was cancelled by the
manager.
2. Did someone tell the staff members about the business trip? - Were the
staff members told about the business trip?
3. They haven't announced the opening date yet. - The opening date hasn't
been announced yet.
4. A stone hit my car. - My car was hit by a stone.
5. Someone had burgled his office. - The office had been burgled.
6. New employees will organise the Christmas party themselves. - The
Christmas party will be organised by new employees themselves.
7. Clare didn't write that note. - The note wasn't written by Clare.
8. Someone is painting our offices. - Our offices are being painted.
9. People saw a new prototype of an airplane in the sky. - A new prototype
of an airplane was seen in the sky.
10. The organisers will divide the prize money between the two winners. - The
prize money will be divided between the two winners.
1.6.1 Test
l . Hopefully, the economic recovery that
the governments are preparing will improve the current situation in
the European Union countries.
• pack
• package
• box
2. The Czech government wants to some
of the corporations.
26
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
take out
bail out
give out
3. The latest news on the stock market says it again
today.
downed
fell down
plunged
4. According to the latest statistics data in this country, the unemployment
rate has been holding over the
past couple of months.
sturdy
steady
steadfast
5. Many company's debt in Central Europe
is pretty high.
load
consolidation
management
6. Due to the mounting competition on the local market, the company
plans to reduce its by 5 %.
labour
work
workforce
7. The German government to provide
more tax breaks for the middle class.
pleaded
plagued
pledged
8. A "housing " , which started in the US few years
ago, refers to a rapid increase in real estate prices, followed by a sharp
decline, as people were not able to pay such high prices.
bobble
27
ECONOMICS - FIRM, EMPLOYMENT, UNEMPLOYMENT
• babble
• bubble
9. Low interest rates in Greece were one of the
factors of the current financial crisis.
• precipitating
• presupposed
• promising
10. Some European governments want to
their economic growth.
• stretch
• spur
• stifle
SHRNUTÍ KAPITOLY
Kapitola Economics - Firm, Employment, Unemployment se zaměřila na témata z
oblasti ekonomie, jejím základním členěním, bohatou slovní zásobou z dané oblasti, dále
prací s textem a celou řadou lexikálních cvičení.
28
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
2 BANKS
RYCHLÝ NÁHLED KAPITOLY
Tato kapitola se bude zabývat problematikou peněz. Důraz je kladen na typické funkce
peněz v moderní ekonomii a také úlohu České národní banky. Budou vysvětleny základní
pojmy, jakými jsou například úlohy a oblasti za jaké je Česká národní banka zodpovědná
v kontextu peněz a také nejběžnější spojení z oblasti peněz v anglickém jazyce.
CÍLE KAPITOLY
V této kapitole se naučím:
• Úspěšně se jazykově orientovat v oblasti peněz,
• Popsat základní funkce peněz a úlohy, které ČNB plní,
• Pracovat s odborným textem z oblasti peněz,
• Číst a sledovat informace týkajících se peněz v odborných médiích.
KLÍČOVÁ SLOVA KAPITOLY
Barter, commodity, currency, liquidity, medium of exchange, money, monetary instrument,
monetary policy, payment, supply of money, value.
2.1 Vocabulary
appoint jmenovat
barter výměnný obchod
circulation oběh
Coll. sbírka zákonů
commercial bank obchodní banka
commodity komodita, produkt
conduct provádět, vést
currency měna
diligence píle
to entrust věřit, pověřit
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BANKS
fiat money neplnohodnotné peníze, cenným kovem
nepodložené peníze
headquarters ředitelství
in accord with v souladu s
in compliance with v souladu s
instrument nástroj
interest úrok
interest rate úroková sazba
issue vydávat
legal entity právnická osoba
liquidity likvidita
to maintain vést, spravovat
medium of exchange prostředek směny
monetary policy peněžní politika
objective cíl
omnipresent všudypřítomný
permissible dovolený, přípustný
prerequisite předpoklad
public sector veřejný sektor
regional branch regionální pobočka
set stanovit, určit
stipulate stanovit
supervision kontrola
supply of money nabídka peněz
sustainable udržitelný
value hodnota
2.2 The Czech National Bank
Journalist: Hello, I would like to introduce you to our today's topic, which is monetary
policy. I have invited an expert, who has worked in this banking field for many years, to
discuss some of the topical issues relating to the omnipresent word - money, monetary
policy and so on. Now, let us ask the first question. Who is in charge of conducting monetary
policy in the Czech Republic?
Banking expert: As you know, in many countries, as it is the case of the Czech Republic,
monetary policy is conducted by the central bank, which is the CNB in this country.
The CNB is the central bank of the Czech Republic and the supervisor of the Czech financial
market.
Journalist: Yes, I understand. How is the operation of the CNB treated under the law,
in order to maintain independence?
Banking expert: In the Czech Republic, there is a pertaining law under which all operations
are carried out in compliance with Act No. 6/1993 Coll., on the Czech National
Bank and other regulations. It is an entity governed by public law having its registered
30
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
address in Prague. It is vested with the powers of an administrative authority to the extent
stipulated by law. It manages the assets entrusted to it by the state independently and with
due diligence. Interventions in its activities are only permissible on the basis of a law.
Journalist: Well, I see, tell us now a bit about the main governing bodies of the CNB.
Banking expert: The supreme governing body of the CNB is the Bank Board, consisting
of the CNB Governor, two Vice-Governors and four Bank Board members. All
Bank Board members are appointed by the President of the Czech Republic for a term of
six years.
Journalist: Can you explain us the main objectives of the CNB on the Czech banking
market?
Banking expert: The primary objective of the CNB is to maintain price stability. Achieving
and maintaining price stability, i.e. creating a low-inflation environment in the
economy, is the central bank's ongoing contribution to the creation of conditions for sustainable
economic growth. Central bank independence is a prerequisite for effective monetary
instruments conducive to price stability. Without prejudice to its primary objective, the
CNB also supports the general economic policies of the Government.
Journalist: Yes, I see your point. On the other hand, what are some other areas the CNB
is responsible for, I mean on a daily basis?
Banking expert: In accordance with its primary objective, the CNB sets monetary policy,
issues banknotes and coins and manages the circulation of currency, the payment system
and settlement between banks. It also performs supervision of the banking sector, the
capital market, the insurance industry, pension funds, credit unions and electronic money
institutions, as well as foreign exchange supervision.
Journalist: Is providing other banking services in accord with the Czech law?
Banking expert: Yes, you are right; all other banking related services have to be. The
CNB provides banking services to the state and the public sector. It maintains the accounts
of organisations connected to the state budget, including revenue and customs authorities,
the Czech Social Security Administration, labour offices, subsidised organisations, state
funds and accounts connected to the budget of the European Communities. Under
authorisation from the Ministry of Finance, the CNB conducts transactions relating to government
securities.
Journalist: What is the organisational structure of the CNB?
Banking expert: The CNB's headquarters is in Prague. Seven regional branches are
located in Prague, Ústí nad Labem, Plzeň, České Budějovice, Hradec Králové, Brno and
Ostrava.
31
BANKS
Journalist: Thank you very much for your interesting interview. Banking expert: It is
my pleasure to do so.
Zdroj: Czech CNB NATIONAL BANK. In: [online]. [cit. 2012-09-14]. Dostupne z:
http://www.cnb.cz/en/about_cnb/
OTÁZKY
1 What is the legal status of the CNB in the Czech Republic?
2 What are the main objectives of the CNB's operations?
3 What is the organisational structure of the CNB?
4 What are the main banking services provided by the CNB?
LEXIS
2.1 Match the definitions with the letter of the term:
1... 2... 3.... 4.... 5.... 6... 7... 8... 9... 10...
1. a method of transferring money between accounts, people, etc.
2. a bank employee that deals directly with customers, receiving and paying out
money
3. the amount of money in a bank account
4. to receive cash in exchange for a check
5. to write a check while not having enough money in one's account to cover it,
resulting in the check not clearing, and the person who received the check not
getting paid
6. any activity (withdrawal, deposit, etc.) performed by the holder of an account
7. to add money to an account
8. a subsidiary of a bank
9. yearly
10. to take out money from an account
a) teller
b) to cash a check
c) to make a withdrawal
d) to make a deposit
e) to bounce a check
32
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
f) wire transfer
g) transaction
h) balance
i) branch
j) annual
2.2 Complete the missing information using the terms listed below:
valued, buy, fiat money, sell, asset barter, trade, commodity money, medium of
exchange
According to associate professor of economics, who works at the Department of Economics
and Business at North Carolina State University, money is " with
which people and goods. Hence, it is defined as the
. Coins, currency (such as dollar bills), and checking accounts all serve as
money. Trade without money is . With money, takes place
just by having people sell what they have for money and then use the money to buy what
they want... At times, gold and other goods served as , i.e. a widely traded
good that was both for its use as a medium of exchange and for its intrinsic
value. Currently, most monies of the world are , not backed by gold or any
other valuable material. The dollar is a fiat money.
Adapted from WESSELS, J.W. Economics: New York: Barron's, 1987. ISBN 0-8120-3560-7.
2.3 Form two-word expressions:
1. state a) funds
2. public b) growth
3. regional c) sector
4. pension d) budget
5. monetary e) environment
6. low-inflation f) instruments
7. sustainable economic g) branch
2.4 Look up in the dictionary the following terms relating to money and
translate them into Czech:
travelling money
idle money
easy money
counterfeit money
near money
paper money
cheap money
dear money
2.5 Translate the following statements into Czech:
33
BANKS
The primary objective of the CNB is to maintain price stability.
In the Czech Republic, there is a pertaining law under which all operations are carried
out in compliance with Act No. 6/1993 Coll., on the Czech National Bank and other regu-
lations.
It manages the assets entrusted to it by the state independently and with due diligence.
The supreme governing body of the CNB is the Bank Board, consisting of the CNB
Governor, two Vice-Governors and four Bank Board members.
All Bank Board members are appointed by the President of the Czech Republic for a
term of six years.
2.6 First read the article, then decide which of the statements is true and
which one is false:
Consumers went back to using their credit cards in March to keep spending while student
and new-car loans shot up as the value of outstanding consumer credit jumped at the fastest
rate since late 2001, data from the Federal Reserve showed on Monday.
Total consumer credit grew by $21.36 billion - more than twice the $9.8 billion rise that
Wall Street economists surveyed by Reuters had forecast. That followed a revised $9.27
billion increase in outstanding credit in February.
Analysts expressed some reservations whether the date reliably signaled a real pickup
in demand, something that would normally fuel stronger growth, or just a need to rely more
on credit in an economy generating anemic job growth.
"The optimistic read is that consumers' improved outlook on the economy and employment
prospects led them to feel comfortable spending on credit, while a more downbeat
interpretation is that credit is needed for consumers to keep up," Nomura Global Economics
said in a note afterward.
The March rise in consumer credit was the strongest for any month since November
2001 when it soared by $28 billion. That was shortly after the September 11, 2001 attacks
when big automakers were offering zero-percent financing and other incentives to lure consumers
back to their showrooms.
New-car sales and production were a key influence on the 2.2 percent annual rate of
economic growth posted during the first three months this year. The government estimated
that about half of that growth came from increased new car production.
Zdroj: BusinessEnglish.com: Business English Reading Comprehension, [online], [cit. 2012-10-04]. Dostupne
z: http://www.businessenalishsite.com/readinacomprehension/source/readinqcomp-10.html
34
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
1. According to the article, the growth in consumer credit in March was twice as
much as economists had predicted.
T ... F
2. By using the word "anemic", the article wants to say that the current job
growth numbers are average.
T ... F
3. According to the article, the increase in consumer credit means that the
economy is improving.
T ... F
4. It had it been about three years since the consumer credit numbers increased
so much in one month.
T ... F
5. According to the article new car production and sales played an important
part in the economic growth at the beginning of this year (2012).
T ... F
2.7 Translate the following article dealing with interest rates into Czech:
Commentary on MFI interest rates
June 2012
Interest rates on new business
Interest rates on new deposits of households and non-financial corporations were little
changed in June.
The interest rate on overnight deposits of households edged down to 0.71%. The rate on
deposits with agreed maturity rose to 1.12%, while the rate on deposits redeemable at notice
edged down to 2.04%.
The interest rate on overnight deposits of non-financial corporations increased to 0.42%.
Deposits with agreed maturity of up to one year (which as a rule account for 100% of all
deposits with agreed maturity in the case of this sector) were remunerated at the same rate
as in the previous month (0.61%).
Interest rates of commercial banks on CZK deposits held by Czech residents - new
business
35
BANKS
Graph 1: Interest rate of commercial banks on CZK deposits held by Czech resi-
dents
Households: overnight deposits
— — Households: deposits with agreed maturity
Non-financial corporations: overnight deposits
— — Non-financial corporations: deposits with agreed maturity
Zdroj: IMF.org
Within interest rates on new loans to households, other loans recorded a significant
change in June. Interest rates on loans to non-financial corporations saw changes for loans
of over CZK 7.5 million and up to CZK 30 million.
The overall interest rate on consumer credit, loans for house purchase and other loans
fell to 6.05%. The interest rate on consumer credit fell to 14.09% and the interest rate on
loans for house purchase declined slightly to 3.91%. The interest rate on other loans was
lower than in the previous month, standing at 4.76%. The rate on overdrafts and revolving
loans declined to 14.25%. At 20.56%, the interest rate on credit cards was unchanged from
the previous month.
Interest rates on new loans to non-financial corporations (excluding overdrafts, revolving
loans and credit cards) increased to 3.03%. The rate on loans of up to CZK 7.5 million
remained unchanged at 4.70%, the rate on loans of over CZK 7.5 million and up to CZK
30 million rose to 3.17% and the rate on new loans of over CZK 30 million increased to
2.84%.
Interest rates of commercial banks on CZK loans provided to Czech residents
business
new
36
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
Graph 2: Interest rates of commercial banks on CZK has provided to Czech resi­
dents
20
15 •
10 •
r>—
1—— i — i — T 1 1
•Households: overdrafts
— — Households: consumer credit
— - - -Households: loans for house purchase
Non-financial corporations: overdrafts
— — Non-financial corporations: loans over CZK 30 million
Zdroj: IMF.org
Interest rates on outstanding amounts
The average interest rate on outstanding amounts of deposits of households and nonfinancial
corporations remained broadly unchanged in June.
The average interest rates on outstanding amounts of loans to households and non-financial
corporations also recorded only a minor change in June.
The overall interest rate on loans to households edged down to 6.48%. The rate on loans
for house purchase also decreased marginally to 4.79%, while consumer credit and other
loans were remunerated at 10.90%.
At 3.86%, the average interest rate on outstanding amounts of loans to non-financial
corporations was unchanged from the previous month. The rate on loans with maturity of
up to one year saw an increase to 3.50%. The interest rate on loans with maturity of over
one year and up to five years fell slightly to 3.94%. The rate on loans with maturity of over
five years fell to 4.07%.
Zdroj: Czech CNB National Bank: Commentary on MFI interest rates, [online], [cit. 2012-09-14]. Dostupne z:
http://www.cnb.cz/en/statistics/monev and banking stat/harm stat data/mfi komentar.html
37
BANKS
2.3 Organizational structure
2.3.1 In pairs discuss first the main duties, responsibilities and tasks of the representatives
of the Czech National Bank. Then each pair will present briefly their summary
to the class. If necessary, go online to https://www.cnb.cz/en/index.html to obtain
more detailed information.
Oi gauisational structure
Bank Board of the Czech National Bank
ä & äMojmír Hampl
Vice-Governor
Vladimír Tomsík
Vice -Governor
Vojtech B e n d a Oldřich D e d e k
B a n k B o a r d m e m b e r Bank B o a r d m e m b e r
M a r e k Mora
B a n k B o a r d mamb^r
T o m a s Nidetzky
B a n k B o a r d m e m b e r
110
General S e c r e t a r i a t
J a n a Báčova
Executive Director
130
Internal Audit
D e p a r t m e n t
Josef M e d e k
Executive Director
560
Financial Regulation
a n d I n t e r n ? : :
C o o p e r a t i o n
D e p a r t m e n t
Vojtěch Belling
Executive Director
S10
Financial Markets
D e p a r t m e n t
Karel B a u e r
Executive Director
ISO
F i n a n: i a I 5tr.~ :.
D e p a r t m e n t
Jan Frait
Executive Director
58'J
Financial M a r k e t
S u p e r v i s i o n
D e p a r t m e n t
Z u z a n a Silberová
Executive Director
32Ü
C a s h a n d P a y m e n t
S y s t e m s
D e p a r t m e n t
Josef Ducháček
Executive Director
4 1 0
M o n e t a r y
D e p a r t m e n t
Tomáš Holub
Executive Director
CNB B r a n c h e s :
• 7 6 1 P r a h a
Jan Liška
Executive Director
0 7 6 6 H r a d e c
Králové
Václav Albrecht
Executive Director
• 7 6 7 Brno
Lubomír Gerák
Executive Director
0 7 6 8 O s t r a v a
Ilja Skaunic
Executive Director
220
B u d g e t a n d
Accounting
D e p a r t m e n t
Marian M a y e r
Executive Director
390
•5t3ŕišti:s a n d D a t a
S u p p o r t D e p a r t m e n t
Vlastimil Vojáček
Executive Director
620
Risk M a n a g e m e n t
a n d Transactions
S u p p o r t D e p a r t m e n t
Jan Schmidt
Executive Director
72Ü
Information S y s t e m s
D e p a r t m e n t
Vladimír Mojžíšek
Executive Director
190
Resolution
D e p a r t m e n t
R a d e k U r b a n
Executive Director
420
Administration
D e p a r t m e n t
Zdeněk Virius
Executive Director
570
Licensing a n d
E n f o r c e m e n t
D e p a r t m e n t
Karel Gabrhel
Executive Director
5 50
Financial M a r k e t
D e p a r t m e n t II
Ladislav Kročák
Executive Director
Zdroj: Czech CNB NATIONAL BANK.
https://www.cnb.cz/en/about cnb/org structure/
In: [online]. [cit. 2018-27-10]. Dostupné z:
2.4 Bank activities and operations. Bank products
2.4.1 First translate the keywords in bold with your English teacher and then read
the article below and discuss in pairs the following issues: activities of commercial and
specialized banks and the range of products banks usually offer:
A bank is generally seen as a financial institution whose primary duty is to borrow and
lend money to its clients and carry out other specifically defined banking and financial
activities.
Originally, banks served businesses, not individuals. In most cases they provided loans
to trading companies for the purchase of inventory. Much later, they started conducting
accounts for their clients and rendering other financial services. Banks are, of course,
38
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
profit-oriented organizations charging fees for their services and realizing their profit, as
a difference between the interest rates which are owed to clients for their deposits, as
opposed to those charged to borrowers.
Being a sensitive industry, banking in most jurisdictions is subject to some kind of government
regulation and banks require special licenses to operate.
As to banks' activities, we can distinguish the following.
First, banking business involves conducting accounts, processing payments, deposit
services and credit services.
Second, forex operations include exchange activities and operations on forex market.
Third, there are other bank services such as financial operations, securities trading,
investment fund management, consulting services and insurance.
Commercial banks design their own ranges of products to match the above activities and
offer each product under its own brand name. Various banks do not necessarily engage in
all activities, but limit their operations to a number of selected areas or specialize in one or
two types only.
The predominant role of a bank today is a commercial bank of a universal character,
i.e. with a large scope of activities. The term "commercial bank" was introduced in the
USA after the Great Depression in the 30's for banks engaged in true banking activities to
distinguish them from investment banks that were limited only to operations in capital
markets.
Thus we can discern between two main kinds of commercial banks: universal banks
and specialized banks.
Universal banks offer their services in the widest range of products to all clients in all
industries. This category includes most commercial banks.
Specialized banks are focused on certain selected areas such as territories (e.g. national,
state or locally operated community banks in the USA), products (mortgages, international
trade, securities, etc.), industries (typically some Russian, Bulgarian or Romanian banks
operating in specific sectors), and clients (differentiated segments including small businesses
or large corporations, co-operatives, etc.).
There is a mix of banks' activities and various kinds of clientship which the commercial
banks serve.
First, retail banking. It deals with individual citizens, sometimes along with small entrepreneurs
(natural persons and small businesses) and represents the main class of consumer
financial service organizations.
39
BANKS
Second, business banking provides services to mid-market business.
Third, corporate banking is directed at large business organizations, the bank conducts
their corporate accounts.
Fourth, private banking provides a range of customized wealth management services
which most banks are now ready to provide to their prominent clients.
Fifth, investment banking relates to activities in financial markets.
As far as bank products are concerned, they have rapidly expanded in recent years due
to both growing competition in the banking sector and progress of information technolo-
gies.
Let us now consider the most common bank products. There are in particular: accounts
and payments, payment instruments, insurance, financial and capital markets, consulting
services, loans and credits, saving and investments and housing.
Zdroj: Kaftan, M., New English in Economics. Karolinum, Praha 2010.
SAMOSTATNÝ UKOL
Prepare a short presentation about bank products you are using. Explain them in detail.
If necessary, go online and visit your bank and describe some more detailed information in
English.
OTÁZKY
2.5 Test
1. Your rate determines the repayments you make on
the money you borrow from a bank.
• interest
• internal
• repayment
2. The money you borrow from a bank is called a
40
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
loaner
loan
lone
3. The CNB is liable for .
taxation
demand
currency
4. Changes in interest rates affect .
investment loans
interest rate policy
remuneration
5. The money offered by commercial banks depends on their
liquidity
scope
intervention
6. A bank will not give you a loan unless you provide some kind of
collateral
collocation
promise
7. Does your company have any debts? ( = debts
that you have not paid off)
excellent
outstanding
outsourcing
8. This investment will yield a higher . ( = you will
make more money with this investment).
return
cash
satisfaction
9. Investors with a portfolio have several (or more)
different investments.
41
BANKS
• different
• diversified
• diverging
10. Asset involves dividing an investment portfolio
among different asset categories, such as stocks, bonds, and cash.
• allocation
• collocation
• information
ODPOVĚDI
2.6 Key
LEXIS-EXERCISES
2.1 Match the definitions with the letter of the term:
1. F
2. A
3. H
4. B
5. E
6. G
7. D
8. I
9. J
10. C
2.2 Complete the missing information using the terms listed below:
According to associate professor of economics, who works at the Department of Economics
and Business at North Carolina State University, money is "ASSET with which people
BUY and SELL goods. Hence, it is defined as the MEDIUM OF EXCHANGE. Coins,
currency (such as dollar bills), and checking accounts all serve as money. Trade without
money is BARTER. With money, TRADE takes place just by having people sell what
they have for money and then use the money to buy what they want... At times, gold and
other goods served as COMMODITY MONEY, i.e. a widely traded good that was VALUED
both for its use as a medium of exchange and for its intrinsic value. Currently, most
42
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
monies of the world are FIAT MONEY, not backed by gold or any other valuable material.
The dollar is a fiat money..."
2.3 Form two-word expressions:
1. D)
2. C)
3. G)
4. A)
5. F)
6. E)
7. B)
2.4 Look up in the dictionary the following terms relating to money and
translate them into Czech:
travelling money cestovné
idle money nevyužité peníze
easy money snadno získatelné peníze
counterfeit money padělané peníze
near money blízké peníze, peníze na dosah
paper money papírové peníze
cheap money levné peníze (za nízký úrok)
dear money drahé peníze (za vysoký úrok)
2.5 Translate the following statements into Czech:
The primary objective of the CNB is to maintain price stability.
Hlavním cílem ČNB je péče o cenovou stabilitu.
In the Czech Republic, there is a pertaining law under which all operations are carried
out in compliance with Act No. 6/1993 Coll., on the Czech National Bank and other regu­
lations.
V České republice existuje příslušný zákon, podle kterého všechny činnosti jsou
prováděny v souladu se zákonem č.6/1993 Sb., o ČNB, ve znění pozdějších předpisů
It manages the assets entrusted to it by the state independently and with due diligence.
Hospodaří samostatně s odbornou péčí o majetek, který jí byl svěřen státem.
43
BANKS
The supreme governing body of the CNB is the Bank Board, consisting of the CNB
Governor, two Vice-Governors and four Bank Board members.
Nejvyšším řídícím orgánem ČNB je bankovní rada, jejímiž členy jsou guvernér,
dva viceguvernéři a čtyři členové bankovní rady.
All Bank Board members are appointed by the President of the Czech Republic for a
term of six years.
Všechny členy bankovní rady jmenuje prezident republiky na šestileté období.
2.6 First read the article, then decide which of the statements is true and
which one is false:
1. T
2. F
3. F
4. F
5. T
2.7 Translate the following article dealing with interest rates into Czech:
Komentář k úrokovým sazbám měnových finančních institucí Červen 2012
Úrokové sazby z nových obchodů
Úrokové sazby z nových vkladů domácností i nefinančních podniků nezaznamenaly v
červnu výraznej ší změnu.
Sazba z jednodenních vkladů domácností mírně klesla na 0,71 %. Sazba z vkladů s dohodnutou
splatností vzrostla na 1,12 %, sazba z vkladů s výpovědí mírně klesla na 2,04 %
V případě jednodenních vkladů nefinančních podniků sazba vzrostla na 0,42 %. Sazba
z vkladů s dohodnutou splatností do 1 roku (jež se u tohoto sektoru podílejí na všech vkladech
s dohodnutou splatností zpravidla 100 %) zůstala stejná jako minulý měsíc, tedy 0,61
%.
Úrokové sazby korunových vkladů přijatých bankami od rezidentů ČR - nové obchody
44
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
Graf 1: Úrokové sazby korunových vkladů přijatých bankami od rezidentů ČR
Domácnosti: jednodenní vklady
— — Domácnosti: vklady s dohodnutou splatností
Nefinanční podniky: jednodenní vklady
— — Nefinanční podniky: vklady s dohodnutou splatností
Zdroj: cnb.cz
U sazeb z nových úvěrů poskytnutých domácnostem došlo v červnu k významnější
změně u ostatních úvěrů. Úrokové sazby z úvěrů nefinančním podnikům zaznamenaly
změny v kategorii od 7,5 do 30 milionů korun.
U celkových úvěrů na spotřebu, bydlení a ostatní zaznamenala úroková sazba snížení na
6,05 %. Úroková sazba z úvěrů na spotřebu poklesla na 14,09 %, v případě úvěrů na bydlení
došlo u sazby k mírnému snížení na 3,91 %. Ostatní úvěry byly úročeny sazbou nižší oproti
minulému měsíci, a to 4,76 %. Sazba u kontokorentů a revolvingových úvěrů klesla na
14,25 %. Sazba z kreditních karet se nezměnila a zůstala stejná jako minulý měsíc, tedy
20,56%.
U nových úvěrů nefinančním podnikům (bez kontokorentů, revolvingů a kreditních
karet) došlo ke zvýšení sazby na 3,03 %. Sazba z úvěrů s objemem do 7,5 mil. Kč
nezaznamenala změnu a zůstala na 4,70 %, úvěry s objemem 7,5-30 mil. Kč byly úročeny
sazbou vyšší, a to 3,17 %, úroková sazba u nových úvěrů s objemem nad 30 mil. Kč se
zvýšila na 2,84 %.
Úrokové sazby korunových úvěrů poskytnutých bankami rezidentům v ČR
obchody
nove
45
BANKS
Graf 2: Úrokové sazby korunových úvěrů poskytnutých bankami rezidentům v ČR
20 n
Domácnosti: kontokorenty
— — Domácnosti: úvěry na spotřebu
— - - -Domácnosti: úvěry na nákup byt. nemovitostí
Nefinanční podniky: kontokorenty
— — Nefinanční podniky: úvěry nad objem 30 mil. Kč
Zdroj: cnb.cz
Úrokové sazby ze stavů obchodů
Průměrná úroková sazba ze zůstatků vkladů domácností i nefinančních podniků se
držela v červnu téměř beze změny.
Stejně tak zaznamenaly v červnu jen menší změnu průměrné úrokové sazby ze zůstatků
úvěrů domácnostem i nefinančním podnikům.
Celková úroková sazba z úvěrů domácnostem mírně poklesla na 6,48 %. Také sazba z
úvěrů na bydlení se nepatrně snížila na 4,79 %, spotřebitelské a ostatní úvěry byly úročeny
sazbou 10,90 %. Průměrná úroková sazba ze zůstatků úvěrů nefinančním podnikům zůstala
stejná jako minulý měsíc, tedy 3,86 %. U úvěrů se splatností do 1 roku se sazba také zvýšila
na 3,50 %. U splatnosti od 1 roku do 5 let sazba mírně klesla na 3,94 %. U úvěrů se
splatností nad 5 let sazba klesla na 4,07 %.
Zdroj: ČESKÁ ČNB NÁRODNÍ BANKA: Komentář k úrokovým sazbám měnových finančních institucí, [online].
[cit.2012-09-15]. Dostupné z: http://www.cnb.cz/cs/statistika/menova bankovni stat/harm stat data/mfi komentar.html
2.4.1 First translate the keywords in bold and then read the article below and
discuss in pairs the following issues: activities of commercial and specialized banks
and the range of products banks usually offer:
46
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
A bank is generally seen as a financial institution whose primary duty is to borrow and
lend money to its clients and carry out other specifically defined banking and financial
activities.
Originally, banks sloužily firmám, ne jednotlivcům. In most cases they provided loans
to trading companies for the purchase of inventory. Much later, they started conducting
accounts for their clients and rendering other financial services. Banks are, of course, na
zisk zaměřené organizace charging fees for their services and realizing their zisk, as a
rozdíl mezi úrokovými sazbami which are owed to clients for their deposits, as opposed
to those charged to borrowers.
Being a sensitive industry, banking in most jurisdictions is subject to some kind of
vládní nařízení and banks require special licence to operate.
As to banks' activities, we can distinguish the following.
First, bankovní obchody involves conducting accounts, processing payments, deposit
services and credit services.
Second, devizové operace include exchange activities and operations on forex market.
Third there are jiné bankovní služby such as finanční operace, obchodování s
cennými papíry, správa investičních fondů, poradenské služby and pojištění.
Commercial banks design their own ranges of products to match the above activities and
offer each product under its own brand name. Various banks do not necessarily engage in
all activities, but limit their operations to a number of selected areas or specialize in one or
two types only.
The predominant role of a bank today is a komerční banka of a universal character, i.e.
with a large scope of activities. The term "commercial bank" was introduced in the USA
after the Great Depression in the 30's for banks engaged in true banking activities to distinguish
them from investiční banky that were limited only to operations in capital mar­
kets.
Thus we can discern between two main kinds of commercial banks: univerzální banky
and specializované banky.
Universal banks offer their services in the widest range of products to all clients in all
industries. This category includes most commercial banks.
Specialized banks are focused on certain selected areas such as území (e.g. national,
state or locally operated community banks in the USA), produkty (mortgages, international
trade, securities, etc.), odvětví (typically some Russian, Bulgarian or Romanian
banks operating in specific sectors), and klienti (differentiated segments including small
businesses or large corporations, co-operatives, etc.).
47
BANKS
There is a mix of banks' activities and various kinds of clientship which the commercial
banks serve.
First, bankovnictví pro soukromníky. It deals with individual citizens, sometimes
along with small entrepreneurs (natural persons and small businesses) and represents the
main class of consumer financial service organizations.
Second, obchodní bankovnictví provides services to mid-market business.
Third, korporátní bankovnictví is directed at large business organizations, the bank
conducts their corporate accounts.
Fourth, obchodní bankovnictví provides a range of customized wealth management
services which most banks are now ready to provide to their prominent clients.
Fifth, investiční bankovnictví relates to activities in financial markets.
As far as bank products are concerned, they have rapidly expanded in recent years due
to both growing competition in the banking sector and progress of information technolo­
gies.
Let us now consider the most common bank products. There are in particular: účty a
platby, platební nástroje, pojištění, finanční a kapitálové trhy, poradenské služby,
půjčky a úvěry, spoření a investice and bydlení.
Zdroj: Kaftan, M., New English in Economics. Karolinum, Praha 2010,
2.6.1 TEST
1. Your rate determines the repayments you make on
the money you borrow from a bank.
• interest
• internal
• repayment
2. The money you borrow from a bank is called a .
• loaner
• loan
• lone
3. The CNB is liable for .
• taxation
• demand
48
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
currency
4. Changes in interest rates affect .
investment loans
interest rate policy
remuneration
5. The money offered by commercial banks depends on their
liquidity
scope
intervention
6. A bank will not give you a loan unless you provide some kind of
collateral
collocation
promise
7. Does your company have any debts? ( = debts
that you have not paid off)
excellent
outstanding
outsourcing
8. This investment will yield a higher . ( = you will
make more money with this investment).
return
cash
satisfaction
9. Investors with a portfolio have several (or more)
different investments.
different
diversified
diverging
10. Asset involves dividing an investment portfolio
among different asset categories, such as stocks, bonds, and cash.
49
BANKS
• allocation
• collocation
• information
SHRNUTÍ KAPITOLY
V kapitole Banks jsme se zaměřili na téma banky, Centrální národní banku, její funkci
a organizační strukturu, bankovní činnosti a operace a produkty.
50
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
3 MONEY
RYCHLÝ NÁHLED KAPITOLY
Kapitola je věnována tématu Money. Vysvětluje úlohu peněz v ekonomii, dále pak nás
seznamuje s odbornými termíny ajejich použitím v praxi. V nepdolední řadě se věnuje problematice
úrokových sazeb a finančním trhům.
CÍLE KAPITOLY
V této kapitole se naučím:
• Slovní zásobu k tématu Money,
• Vysvětlit klíčové termíny v oblasti peněz,
• Popsat a vysvětlit problematiku peněz,
• Popsat a vysvětlit problematiku úrokých sazeb a financích trhů.
KLÍČOVÁ SLOVA KAPITOLY
Evolution of money, financial markets, functions of money, interest rate, money.
3.1 Vocabulary
asset aktivum
banknote bankovka
barter naturální měna
cash hotovost
circulation oběh
claim pohledávka
common equivalent všeobecný ekvivalent
convertible převoditelný, směnitelný
counterfeiting padělání
currency měna
direct debit bezhotovostní placení
division of labour dělba práce
evaluation hodnocení
51
MONEY
foreign currency valuta, cizí měna
foreign exchange deviza, devizy
good statek
interested party zájemce
issue vydávání
legal tender zákonné platidlo
liquidity likvidita
medium prostředek
medium of exchange prostředek směny
measurement měření
monetary unit peněžní jednotka
money supply peněžní zásoba
payment platba
rate of exchange směnný kurz
receivable vlastní pohledávka
remittance úhrada
reimbursement úhrada
store sklad, uchování
susceptible náchylný
thread vlákno
transfer převod
unit jednotka
unit of account zúčtovací jednotka
watermark vodotisk
3.2 Money
The necessity and determination to satisfy people's needs is at the core of every economic
activity. As various communities started to specialize in certain kinds of manufacture,
over the course of time their activities differentiated on the basis of the initial division
of labour depending on local conditions, history and also saw the first exchanges of products
taking place along with the parallel comparing of values.
Since then, economic activities could be generally characterized as providing goods and
services for reimbursement. The comparisons, evaluations and measurements were possible
thanks to two intrinsic values of every good: the utility of value and the exchange value.
The value of goods thus comprises the exchange value of a product or service which
represents the quantity of other goods for which it can be exchanged. Since money became
the common equivalent, the exchange value is expressed in money.
The utility value of a product is in its ability to satisfy an interested party's need. The
needs are rather specific and they may also change in dependence to the existing conditions:
age, status, place, education, profession, etc.
Let us now consider the evolution of money.
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
1. Simple exchange (also barter, direct exchange of products, natural exchange) took
place randomly, concerned any products picket out by parties to the exchange and was
affected directly, in the absence of any money. This manner, however, was rather impractical.
Suitable goods were sometimes unavailable, some of them were indivisible while
others were susceptible to damage.
2. Commodity money were products which in a tribe or nation were recognized and
accepted as common equivalents by all members, (e.g. cattle, grain, salt or cloth, etc.)
3. Precious metals, especially silver and gold, replaced commodity money as trade expanded
into larger areas. These metals had several advantages. They were stable, durable,
and divisible, a small amount represented a relatively great value. Metals were formed into
coins.
4. Paper money originally had a gold content, which expressed the exact value of each
such paper and the money could be re-exchanged for gold again. Paper money first appeared
in the West in the 16th
century and, 200 years later, in Czech countries. Paper money
is no longer convertible into gold and its circulation within a country proceeds on a basis
of legislative regulation of the whole banking system. No money can be created legally by
private persons. Its supply in society is thus limited which, conversely, is also why money
retains a certain value. The issue of banknotes in the framework of regulated money supply
is managed by the central bank. Banknote manufacturers have gradually improved both the
mechanical stability and durability of banknotes on which also appropriate counterfeiting
and security measures are applied (e.g. watermarking, microprinting or special threads).
To describe the functions of money means to answer the question why we need it. So let
us consider the four main functions.
Unit of account. Money is the common standard for measuring relative value of goods
and services. The amount of monetary units express the price.
Medium of exchange. The circulation of money in the economy allows using cash in
buying and selling.
Store of value. Money is the most liquid asset and permits a time interval between buying
and selling, in particular, it can be used to transfer purchasing power into the future.
Legal tender. Legal tender also fiat money represents all money issued by the government
and its circulation is subject to a law rule.
We can conclude that money is primarily a medium of exchange that can be used to
purchase goods and services and measure their value.
Zdroj: Kaftan, M., New English in Economics. Karolinum, Praha 2010.
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OTAZKY
1 What lies at the core of each economic activity?
2 Explain economic typical activities.
3 Explain the value of goods including the exchange value and utility value.
4 Explain what simple exchange means.
5 Explain what commodity money means.
6 What were precious metals used for?
7 What is paper money?
8 Explain the four main functions of money.
LEXIS
3.1 Match each phrase with its explanation
1. cash a) the act of paying and being paid
2. currency b) a method of transferring money, usually
from one bank account to another
3. convertibility c) the act of paying, the sending of money
to pay for goods or services
4. foreign currency d) an asset's ability to be easily converted
into cash and without affecting the asset's
price
5. foreign exchange e) the price of currency if exchanged, the
rate at which a unit of the currency of one
country can be exchanged for a unit of the
currency of another country
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
6. rate of exchange f) a property to which value can be assig­
ned
7. asset g) the claim (receivable) referring to a foreign
currency, technically, the dealing in
foreign money
7. liquidity h) the currencies of countries other than
your own
7. remittance i) the capability of being legally exchanged
for another currency
7. transfer j) the dominant medium of exchange, a system
of money, or the coins and notes themselves,
used in a particular country
7. payment k) money in the form of coins and notes
that can be used for immediate payment
SAMOSTATNÝ ÚKOL
Go online and find some relevant facts about the evolution of money in English speaking
countries. Once you have finished, exchange your findings with other colleagues and
describe them in front of your class.
3.3 Interest rate
An interest rate is the percent of principal charged by the lender for the use of its money.
The principal is the amount of money lent. As a result, banks pay you an interest rate on
deposits. They are borrowing that money from you.
Anyone can lend money and charge interest, but it's usually banks. They use the deposits
from savings or checking accounts to fund loans. They pay interest rates to encourage people
to make deposits.
Banks charge borrowers a little higher interest rate than they pay depositors so they can
profit. At the same time, banks compete with each other for both depositors and borrowers.
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The resulting competition keeps interest rates from all banks in a narrow range of each
other.
How Interest Rates Work
The bank applies the interest rate to the total unpaid portion of your loan or credit card
balance.
Although interest rates are very competitive, they aren't the same. A bank will charge
higher interest rates if it thinks there's a lower chance the debt will get repaid. For that
reason, banks will always assign a higher interest rate to revolving loans, like credit cards.
These types of loans are more expensive to manage. Banks also charge higher rates to people
they consider risky. It's important to know what your credit score is and how to improve
it. The higher your score, the lower the interest rate you will have to pay.
Banks charge fixed rates or variable rates. It depends on whether the loan is a mortgage,
credit card, or unpaid bill. The actual interest rates are determined by either the 10year
Treasury note or by the fed funds rate.
Fixed rates remain the same throughout the life of the loan. Your initial payments consist
mostly of interest payments. As time goes on, you pay a higher and higher percentage of
the debt principal. If you make an extra payment, it all goes toward principal. You can pay
the debt off sooner that way. Most conventional mortgages are fixed-rate loans.
Variable rates change with the prime rate. When the rate rises, so will the payment on
your loan. With these loans, you must pay attention to the prime rate, which is based on the
fed funds rate. If you make extra payments, it will also go toward paying off the principal.
Understand APR
The APR stands for annual percentage rate. It allows you to compare the cost of different
borrowing options. The APR includes any fees a bank may charge. These one-time fees are
called "points" because they the bank calculates them as a percentage point of the total. The
APR can help you compare a loan that only charges an interest rate to one that charges a
lower interest rate plus points.
Zdroj: Interest Rates How They work [cit. 2018-30-10]. Dostupne z: www.thebalance.com/what-are-interest-rates-
and-how-do-thev-work-3305855
OTÁZKY
1 What is an interest rate?
2 Explain in English the following terms: a lender, a principal, a deposit.
3 Explain how an interest rate works.
4 Explain fixed rates and variable rates.
5 Explain the APR.
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SAMOSTATNÝ ÚKOL
Go online and check the latest news on the interest rates in this country and other countries.
Exchange and compare your findings with your colleagues and present them to the
class.
3.4 Financial market
A financial market is an aggregate of various instruments, institutions and relationships
that are designed to facilitate exchanges. In other words, financial markets are places where
capital is raised, securities are traded, and stock process are established.
A substantial part of financial markets trade in rather fictitious financial instruments
such as stock, bonds or mortgages whose owners have to rely on certain contractual provisions
that entitle them to specific rights and claims.
Let us consider now what types of financial market can be found.
Bond market - bond markets perform the same function as the stock markets except for
the type of securities, which in this case are bonds.
Capital market - capital markets facilitate long-term external financing through loans
due after 12 months. Their loan capital consists of savings deposited in banks, premiums
paid to insurance companies or payments to pension funds. The municipalities and state
can participate through T-bills with maturity from 2 to 30 years.
Derivatives market - derivatives are securities whose values are derived from the price
of some other asset (e.g. futures contract). They exist in varied forms.
Foreign exchange market - the market serves banks, exporters and importers, tourists
and speculators. Banks use interbank operations to ensure their own solvency in foreign
currencies. The market is based on the central bank's fixing.
Futures market - under futures market contracts (futures) the parties are obliged to
carry out given transactions at a fixed time in the future, under agreed upon terms which
usually concern a predetermined quantity of shares and a predetermined price.
IPO market - IPO stands for "initial public offering" made by private forms (with
closely held stock) which decide to raise capital by going public and offer - for the first
time - part of their stock for sale.
Primary market - primary market is the name for marketing an additional issue of
shares, undertaken by a bank or an issuing consortium of publicly owned companies (with
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publicly held stock) which can be further divided into an underwriting group a sales group.
The former group arranges the issue, the latter is responsible for its placement.
Secondary market - secondary markets are strictly meant for the marketing of already
existing, outstanding securities. The kind of securities trading follows, after the first issue.
It is just during this secondary trading that a security gains its "real face" and the market
decides what the security is really worth.
Stock market - stock markets provide financing through the issuance of all kinds of
shares (stock) which are subsequently traded.
Zdroj: Kaftan, M., New English in Economics. Karolinum, Praha 2010.
OTÁZKY
1 Explain the basic principles of financial markets.
2 What instruments are traded at stock markets?
3 What is traded at the bond market?
4 What is traded at the capital market?
5 What is traded at the derivatives market?
6 What is traded at the foreign exchange market?
7 What is traded at the futures markets?
8 What is traded at the secondary market?
9 What is traded at the stock market?
LEXIS
3.2 Match the English terms with Czech equivalents:
derivates market, bond market, stock market, capital market, foreign exchange
market, money market, securities market, IPO market, primary market, secondary
market, futures market
1. peněžní trh a...
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
2. devizový trh b...
3. trh cenných papírů c...
4. kapitálový trh d...
5. akciový trh e...
6. trh dluhopisů f . . .
7. trh derivátů g...
8. trh prvotních akcií h...
9. primárni trh i . . .
10. sekundárni trh j . . .
11. termínovaný trh k...
3.3 Match the nouns with appropriate adjectives. Use each word once only:
1
2.
3.
4.
5.
6.
1. financial
2. foreign
3. capital
4. tradable
5. short-term
6. fixed
a) salary
b) market
c) loan
d) obligation
e) document
f) exchange
3.4 Decide whether the following statements are true or false:
1. Stock markets provide financing through the sales of all kinds of shares (stock)
which are subsequently traded. T / F ...
2. Futures market - under futures market contracts (futures) the parties are obliged to
carry out given transactions at any time in the future, under agreed upon terms which
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usually concern a predetermined quantity of shares and a predetermined price. T / F
3. Bond markets perform the same function as the stock markets except for the type of
securities, which in this case are bonds. T / F ...
4. Capital markets facilitate long-term external financing through loans due after 21
months. Their loan capital consists of savings deposited in banks, premiums paid to
insurance companies or payments to pension funds. The municipalities and state can
participate through T-bills with maturity from 20 to 30 years. T / F ...
3.5 Translate into English the following terms:
1. akcie ...
2. dluhopis ...
3. krátkodobé výpůjčky ...
4. mezibankovní depozita ...
5. pokladniční poukázky ...
6. prostředník ...
7. půjčovatel ...
8. spořitel ...
9. refinanční úvěry ...
10. úroková míra ...
11. vypůjčovatel ...
OTÁZKY
3.5 Test
1. IPO stands for:
important public offering
initiative public offering
initial public offering
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2. Bond is a:
a certificate issued by an individual that promises to repay a debt
a certificate issued by the government or a company that promises to repay a debt
a certificate issued by a bank that promises to repay a debt
3. Treasury bills are:
short-term obligations with maturities running from 3 up to 12 months, guaranteed
by the Finance Ministry
long-term obligations with maturities running from 3 up to 12 months, guaranteed
by the Finance Ministry
middle-term obligations with maturities running from 3 up to 12 months, guaranteed
by the Finance Ministry
4. Fixed rates:
decrease throughout the life of the loan
remain the same throughout the life of the loan
keep changing throughout the life of the loan
5. Variable rates:
change with the prime rate
stay the same with the prime rate
increase with the prime rate
6. The APR stands for:
average percentage rate
annual percentage rate
anuity percentage rate
7. Legal tender is:
also fiat money represents all money issued by the government and its circulation is
subject to a law rule
also fiat money represents certain money issued by the government and its circulation
is subject to a law rule
also fiat money represents just near money issued by the government and its circulation
is subject to a law rule
8. Security is:
a tradable financial instrument showing evidence of a debt or an ownership
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• a non-tradable financial instrument showing evidence of a debt or an ownership
• a tradable non-financial instrument showing evidence of a debt or an ownership
9. Commodity money:
• were products which in a tribe or nation were recognized and accepted as common
equivalents by all members, (e.g. cattle, grain, salt or cloth, etc.)
• were products which in a tribe or nation were not recognized and not accepted as
common equivalents by all members, (e.g. cattle, grain, salt or cloth, etc.)
• were products which in a tribe or nation were recognized and accepted as common
equivalents by all members, (e.g. smartphones, PCs, cars etc.)
10. Stock markets provide:
• a financing through the issuance of all kinds of shares (stock) which are not subsequently
traded
• a financing through the issuance of all kinds of shares (stock) which are just subsequently
sold
• a financing through the issuance of all kinds of shares (stock) which are subsequently
traded
ODPOVĚDI
3.6 Key
LEXIS
3.1 Match each phrase with its explanation:
1. cash k) money in the form of coins and notes
that can be used for immediate payment
2. currency j) the dominant medium of exchange, a
system of money, or the coins and notes
themselves, used in a particular country
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
3. convertibility i) the capability of being legally exchanged
for another currency
4. foreign currency h) the currencies of countries other than
your own
5. foreign exchange g) the claim (receivable) referring to a
foreign currency, technically, the dealing
in foreign money
6. rate of exchange e) the price of currency if exchanged, the
rate at which a unit of the currency of
one country can be exchanged for a unit
of the currency of another country
7. asset f) a property to which value can be assig­
ned
7. liquidity d) an asset's ability to be easily converted
into cash and without affecting the
asset's price
7. remittance c) the act of paying, the sending of
money to pay for goods or services
7. transfer b) a method of transferring money, usually
from one bank account to another
7. payment a) the act of paying and being paid
3.2 Match the English terms with Czech equivalents:
derivates market, bond market, stock market, capital market, foreign exchange
market, money market, securities market, IPO market, primary market, secondary
market, futures market
1. peněžní trh a money market
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2. devizový trh
3. trh cenných papírů
4. kapitálový trh
5. akciový trh
6. trh dluhopisů
7. trh derivátů
8. trh prvotních akcií
9. primární trh
10. sekundární trh
11. termínovaný trh
b foreign exchange market
c securities market
d capital market
e stock market
f bond market
g derivates market
h IPO market
i primary market
j secondary market
k futures market
3.3 Match the nouns with appropriate adjectives. Use each word once only:
1 financial obligation
2. foreign exchange
3. capital market
4. tradable document
5. short-term loan
6. fixed salary
1. financial a) salary
2. foreign b) market
3. capital c)loan
4. tradable d) obligation
5. short-term e) document
6. fixed f) exchange
3.4 Decide whether the following statements are true or false:
1. Stock markets provide financing through the sales of all kinds of shares (stock)
which are subsequently traded. F
2. Futures market - under futures market contracts (futures) the parties are obliged to
carry out given transactions at any time in the future, under agreed upon terms which
usually concern a predetermined quantity of shares and a predetermined price. F
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
3. Bond markets perform the same function as the stock markets except for the type of
securities, which in this case are bonds. T
Capital markets facilitate long-term external financing through loans due after 21
months. Their loan capital consists of savings deposited in banks, premiums paid to
insurance companies or payments to pension funds. The municipalities and state can
participate through T-bills with maturity from 20 to 30 years. F
3.5 Translate into English the following terms:
1. akcie ... share, stock
2. dluhopis ... bond
3. krátkodobé výpůjčky ... short-term borrowing
4. mezibankovní depozita ... interbank deposits
5. pokladniční poukázky ... treasury bills
6. prostředník ... intermediary
7. půjčovatel ... lender
8. spořitel ... saver
9. refinanční úvěry ... refinancing credits
10. úroková míra ... interest rate
11. vypůjčovatel ... borrower
3.6.1 TEST
1. IPO stands for:
• important public offering •
initiative public offering
• initial public offering
2. Bond is a:
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• a certificate issued by an individual that promises to repay a debt
• a certificate issued by the government or a company that promises to repay a
debt
• a certificate issued by a bank that promises to repay a debt
3. Treasury bills are:
• short-term obligations with maturities running from 3 up to 12 months, guaranteed
by the Finance Ministry
• long-term obligations with maturities running from 3 up to 12 months, guaranteed
by the Finance Ministry
• middle-term obligations with maturities running from 3 up to 12 months, guaranteed
by the Finance Ministry
4. Fixed rates:
• decrease throughout the life of the loan
• remain the same throughout the life of the loan
• keep changing throughout the life of the loan
5. Variable rates:
• change with the prime rate
• stay the same with the prime rate
• increase with the prime rate
6. The APR stands for:
• average percentage rate
• annual percentage rate
• anuity percentage rate
7. Legal tender is:
• also fiat money represents all money issued by the government and its circulation
is subject to a law rule
• also fiat money represents certain money issued by the government and its circulation
is subject to a law rule
• also fiat money represents just near money issued by the government and its circulation
is subject to a law rule
8. Security is:
• a tradable financial instrument showing evidence of a debt or an ownership
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
• a non-tradable financial instrument showing evidence of a debt or an ownership
• a tradable non-financial instrument showing evidence of a debt or an ownership
9. Commodity money:
• were products which in a tribe or nation were recognized and accepted as common
equivalents by all members, (e.g. cattle, grain, salt or cloth, etc.)
• were products which in a tribe or nation were not recognized and not accepted as
common equivalents by all members, (e.g. cattle, grain, salt or cloth, etc.)
• were products which in a tribe or nation were recognized and accepted as common
equivalents by all members, (e.g. smartphones, PCs, cars etc.)
10. Stock markets provide:
• a financing through the issuance of all kinds of shares (stock) which are not subsequently
traded
• a financing through the issuance of all kinds of shares (stock) which are just subsequently
sold
• a financing through the issuance of all kinds of shares (stock) which are subsequently
traded
SHRNUTÍ KAPITOL Y
Kapitola Money vysvětlila úlohu peněz v ekonomii, dále pak nás seznámila s odbornými
termíny a jejich použitím v praxi. V nepdolední řadě se věnovala problematice úrokových
sazeb a finančním trhům.
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MARKET
4 MARKET
RYCHLÝ NÁHLED KAPITOLY
Kapitola se zaměřuje na oblast spojenou s trhem. Zabývá se základními principy na kterých
funguje trh. Jedná se o nabídku a poptávku a cenu. Dále se soustředí na funkce trhu a
také konkurenci. V neposlední řadě se budeme věnovat problematice nákladů.
CÍLE KAPITOLY
V této kapitole se naučím:
• Slovní zásobu k tématu trh, nabídka, poptávka, cena, konkurence a náklady,
• Jak správně používat klíčovou terminologii spojenou s trhem, nabídkou, poptávkou,
cenou, konkurenci a náklady.
• Popsat, vysvětlit problematiku spojenou s trhem.
KLÍČOVÁ SLOVA KAPITOLY
Cost, competition, demand, elements, market, market supply, price.
4.1 Vocabulary
aggregate demand celková poptávka
aggregate supply celková nabídka
allocative efficiency alokační efektivnost
buyer kupující
commodity zboží, komodita
demand poptávka
direct costs přímé náklady
disproportion nepoměr
element of market economy prvek tržní ekonomie
evaluation hodnocení, ocenění
evaluation hodnocení, ocenění
exchange směna
firm firma, podnik
fixed costs fixní náklady
goods zboží
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
household domácnost
impending hrozící
indirect costs nepřímé náklady
individual demand individuální poptávka
individual supply individuální nabídka
market trh
market agent tržní subjekt
market forces tržní síly
market mechanism tržní mechanismus
market supply nabídka trhu
overhead cost režijní náklady
partial demand dílčí poptávka
price cena
prove one's merits prokázat zásluhy
purchase nákup
regulator regulátor
seller prodávající
serve sloužit
services služby
social strucutre sociální struktura
state stát
supply nabídka
to the detriment of na úkor
transact obchodovat
variable costs variabilní náklady
4.2 Market
A market is a mechanism for the exchange of activities - and their results in the form of
goods and services - among various economic subjects called market agents. They act as
buyers and sellers and exchange goods and services by means of money.
A market also represents a social structure because its existence and functions anticipate
an active involvement of all those who participate in market activities. The market is the
basic element of market economy and one of the key categories in any modern economic
system.
As opposed to simple selling, a market implies trade that is transacted with some regularity
and regulation, and in which a certain amount of competition is involved; it arises
whenever groups of buyers and sellers come together, and allows the operation of supply
and demand.
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MARKET
A market agent can generally be defined as a subject or entity within the market that
makes economic decisions and engages in economic activities. Since this term often appears
in professional lectures and literature, let us state it is another expression for the main
economic subjects such as households, firms and the state.
The market mechanism is a process in which three main components interact: demand,
supply and price. They are often referred to as market forces, at other times they are called
elements of market mechanism.
Let us consider now the market elements in detail. Demand is term for a certain quantity
of a certain type of goods and/or services which the buyers are willing to buy at a certain
price. A demand can be: individual (by one single interested person), partial (for one single
product or service) and aggregate (the total of all intended purchases, an average value of
many inquirers and many types of goods and services).
Supply is a term for a certain quantity of a certain type of goods and/or services which
the sellers are willing to supply at a certain price. A supply can be: individual (by one single
seller / producer), market (of a certain type of goods, the sum of all individual offers in a
certain market) and aggregate (the total of all market supplies).
Price shows the amount of money which the buyers are prepared to pay in order to obtain
a certain type of good or service. It also shows what amount of money is acceptable for the
sellers to be able to offer such goods or service.
Zdroj: Kaftan, M., New English in Economics. Karolinum, Praha 2010.
OTÁZKY
1 Explain what a market is.
2 Name the market agents. Who are they?
3 Explain the difference between selling and a market.
4 Describe what a market agent does.
5 Explain the principle of the market mechanism and how it works.
6 Explain what demand is.
7 Explain what supply is.
8 Explain what a price is.
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
LEXIS
4.1 Match the collocations with the definitions.
a) it is the most important company selling there b) it starts selling there for the first
time c) it stops selling there d) it makes the other company leave the market, perhaps
it can no longer compete e) it is the only company selling there
1. If a company penetrates or enters a market
2. If a company abandons/gets out or leaves a market
3. If a company dominates a market
4. If a company corners/monopolizes a market
5. If a company drives another company out of a market
4.2 Find the most suitable word combinations with the word market:
1. In the late 1990s, Internet use was doubling
growth every 100 days. Market... was
incredible.
a) segment
2. Women are a particularly interesting target
for the Volvo V60. They are an important
market ... for Volvo.
b) segmentation
3. The Softco software company divides the
software market into large companies, small
companies, home office users, and leisure
users. This is its market... .
c) growth
4. Among UK supermarkets, Tesco sells
more than any of the other chains. It has the
highest market....
d)leader
5. Tesco is the market ... among U K supermarkets
as it sells more than any of the other
chains.
e) share
4.3 Use the correct form of the words in brackets to complete the sentences.
1. European films do not export well: European movies barely
(abandon/corner/penetrate) the US market.
2. In the 1970s, Kodak (corner/enter/leave) the instant photography
market, until then (abandon/dominate/penetrate) by Polaroid.
3. The Hunt brothers tried to fix silver prices and to (corner/enter/leave) the silver
market, (enter/drive out/monopolize) all competitors.
4. In the 1940s, M G M (abandon,get out of/monopolize) the market on
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film musicals. But by the late 1950s, Warner Bros had also started buying film rights to
musicals.
4.4 Replace the underlined expressions with the appropriate words. You may need
to add a verb in the correct form:
a) market segmentation b) market segments c) market growth is d) have a 55 percent market
share e) are the market leader
Welcome everybody, I'm Tim and I'm marketing manager for Cola in a country called
Namibia. In this market we 1. sell more than any other cola. In fact,
we 2. have 55 per cent of the market. 3. Sales are increasing
at seven to eight per cent per year. There are two main 4.
groups of users : those who drink it in cafes, bars and restaurants,
and those who buy it to drink at home. Of course, many users belong to both
groups, but this is our 5. way of dividing our consumers.
4.3 Functions of a market
Markets are useful if they serve well the needs of a society and if their existence is not
misused for any improper practices, selfish interests and harmful ventures to the detriment
of the majority of population. Monopolistic aspirations such as overregulation and too restrictive
policies produce mostly negative effects.
In general, a market is expected to prove its merits mainly in the following directions:
1. Firstly, any meaningful transaction involving goods or services is preceded by an
exchange of information between buyers and sellers.
2. Except for special forms trade (e.g. barters, where one commodity is directly exchanged
for another), most transactions effected in markets are based on the evaluation of
commodities and/or services by prices. The universal medium of exchange is money.
3. hifinite numbers of information exchanges and subsequent transactions, using the
above instruments take place incessantly throughout the world; assortments, quantities, prices
and other terms are quickly adjusted in a continuing process which ultimately influences
supply and demand and contributes to allocative efficiency.
4. In this way, markets act as true regulators of many economic processes. They serve
as reliable signallers of impending disproportions. They are also stimulators of innovations
and advance by encouraging competition or warning of insufficient resources.
Exchanges in markets actually concern exchanges of activities and ownership rights
among economic subjects, which are subsequently realized in material forms.
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
Zdroj: Kaftan, M., New English in Economics. Karolinum, Praha 2010.
OTÁZKY
1 Name the basic functions of a market.
2 Name the basic principle of a market.
3 How were commodities exchanged in the past? Give us an example.
4 On what basis are commodities exchanged these days?
5 What other does the market serve? Name some examples.
4.4 Competition
Competition is characterized as rivalry of two or more subjects for supremacy (e.g. a
leading position on a market). It is also a business relation in which businesses compete to
gain customers.
Various theories deal with competition on the demand side, the supply side or across the
market, but the main attention is paid to the differentiation between price and non-price
competition and perfect and imperfect competition.
Let us now study the first two. Price competition among firms is based on manipulations
of prices rather than product changes. The forms are manifold and range from cost reductions
over profit sacrifices in various promotional campaigns or clearance sales to dumping
and other dubious practices, often leading to "price wars" among contestants.
Non-price competition uses a number of instruments which are more varied in their utility
value, such as quality, service, multiple-function properties, service life etc. The introduction
of new brands and trademarks or use of advertising media serve the same purpose.
Perfect competition only exists in an idealized market structure. It presupposes equal
conditions for all market agents whose large numbers prevent anyone's supremacy or possibility
to dictate terms; moreover, there are also premises of homogenous products, access
to complete information plus a free entry to any industry.
Clearly, imperfect competition is much more typical of conditions prevailing in most
markets.
Let us pay attention at this point to some examples of imperfect competition.
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MARKET
Monopoly - refers to a market structure where a single firm controls the entire market.
A monopoly firm produces less output, has higher costs, and sells its output for a higher
price than it would if constrained by competition. These negative outcomes usually generate
government regulation.
Monopsony - a market with a single buyer and many sellers.
Oligopoly - a market structure with a small number of sellers. If they collude, they form
a cartel to reduce output and drive up profits the way a monopoly does.
Zdroj: Kaftan, M., New English in Economics. Karolinum, Praha 2010.
OTAZKY
1 Explain what competition means.
2 Explain price-competition, give us some examples.
3 Explain non-price competition, give us some examples.
4 Explain the meaning of perfect competition.
5 Explain the meaning of imperfect competition.
6 Explain what monopoly means.
7 Explain what monopsony means.
8 Explain what oligopoly means.
4.5 Costs
A cost is the amount of money required to be paid for something, or the amount of
money spent in doing something.
There are some specific cost categories. Let us now study them in detail. The first group
is based on the reaction to changes.
Fixed cost - includes depreciation, most of the wages and salaries of indispensable staff,
or insurance, interest and rentals.
Variable cost - varies with every increase or decrease of output proportionally (such as
materials), progressively (e.g. pay for working overtime) or degressiviely (energy).
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
The second group proceeds from the identification ability. We can distinguish here direct
and indirect costs.
Direct costs are directly related to a cost unit as they can be easily identified and added
to the unit without any auxiliary computations, such as the cost of a car part included in the
cost of the whole car.
Indirect costs, or overhead costs, are general expenses or simply overheads and have to
be calculated by other methods. Salaries of staff in administrative department, insurance
charges or advertising costs are among typical examples.
OTÁZKY
1 Explain what a cost is.
2 Name the specific cost categories.
3 Explain the principle of fixed costs.
4 Explain the principle of variable costs.
5 Explain the principle of direct costs.
6 Explain the principle of indirect costs.
OTAZKY
4.6 Test
1. A market is:
• a mechanism for the exchange of activities - and their results in the form of
goods and services
• a mechanism for the sale of activities - and their results in the form of goods and
services
• a mechanism for the purchase of activities - and their results in the form of goods
and services
2. Demand is term for:
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MARKET
• a certain quality of a certain type of goods and/or services which the buyers are
willing to buy at a certain price
• a certain quantity of a certain type of goods and/or services which the buyers are
willing to buy at a certain price
• a certain quantity of an uncertain type of goods and/or services which the buyers
are willing to buy at a certain price
3. Supply is a term for:
• a certain quantity of an uncertain type of goods and/or services which the sellers
are willing to supply at a certain price
• a certain quality of a certain type of goods and/or services which the sellers are
willing to supply at a certain price
• a certain quantity of a certain type of goods and/or services which the sellers are
willing to supply at a certain price
4. Competition is:
• characterized as cooperation of two or more subjects for supremacy
• characterized as rivalry of two or more subjects for inferiority
• is characterized as rivalry of two or more subjects for supremacy
5. Perfect competition:
• presupposes unequal conditions for all market agents whose large numbers prevent
anyone's supremacy or possibility to dictate terms
• presupposes equal conditions for all market agents whose large numbers prevent
anyone's supremacy or possibility to dictate terms
• presupposes equal conditions for some market agents whose large numbers prevent
anyone's supremacy or possibility to dictate terms
6. Monopoly:
• refers to a market structure where a single firm controls a fractional market
• refers to a market structure where a single firm controls half of the entire market
• refers to a market structure where a single firm controls the entire market
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
1. Monopsony:
• a market with a single buyer and many sellers
• a market with many buyers and a single seller
• a market with a single buyer and single seller
8. Oligopoly:
• a market structure with a small number of sellers
• a market structure with a large number of sellers
• a market structure with an uneven number of sellers
9. Variable cost:
• varies with every increase or decrease of output proportionally
• varies with every increase or decrease of output unproportionally
• remains the same with every increase or decrease of output proportionally
10. Direct costs:
• are not directly related to a cost unit as they can be easily identified and added
to the unit without any auxiliary computations
• are directly related to a cost unit as they cannot be easily identified and added to
the unit without any auxiliary computations
• are directly related to a cost unit as they can be easily identified and added to the
unit without any auxiliary computations
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MARKET
0 ODPOVĚDI
4.7 Key
LEXIS
4.1 Match the collocations with the definitions.
a) it is the most important company selling there b) it starts selling there for the first
time c) it stops selling there d) it makes the other company leave the market, perhaps
it can no longer compete e) it is the only company selling there
1. If a company penetrates or enters a market - b)
2. If a company abandons/gets out or leaves a market - c)
3. If a company dominates a market - a)
4. If a company corners/monopolizes a market - e)
5. If a company drives another company out of a market - d)
4.2 Find the most suitable word combinations with the word market:
1. In the late 1990s, Internet use was doubling
growth every 100 days. Market... was
incredible.
c) growth
2. Women are a particularly interesting target
for the Volvo V60. They are an important
market ... for Volvo.
a) market segment
3. The Softco software company divides the
software market into large companies, small
companies, home office users, and leisure
users. This is its market... .
b) market segmentation
4. Among UK supermarkets, Tesco sells
more than any of the other chains. It has the
highest market....
e) market share
5. Tesco is the market ... among U K supermarkets
as it sells more than any of the other
chains.
d) market leader
4.3 Use the correct form of the words in brackets to complete the sentences.
1. European films do not export well: European movies barely penetrate the US market.
2. In the 1970s, Kodak entered the instant photography market, until then dominated by
Polaroid.
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Martina Chylkova, Janusz Karpeta - Cizojazycnd pfiprava AJ 4
3. The Hunt brothers tried to fix silver prices and to corner the silver market, driving out
competitors.
4. In the 1940s, M G M monopolized the market on film musicals. But by the late 1950s,
Warner Bros had also started buying film rights to musicals.
4.4 Replace the underlined expressions with the appropriate words. You may need
to add a verb in the correct form:
a) market segmentation b) market segments c) market growth is d) have a 55 percent market
share e) are the market leader
Welcome everybody, I'm Tim and I'm marketing manager for Cola in a country called
Namibia. In this market we 1. e) are the market leader. In fact, we 2. d) have a 55 per
cent market share. 3. c) market growth is at seven to eight per cent per year. There are
two main 4. b) market segments : those who drink it in cafes, bars and restaurants, and
those who buy it to drink at home. Of course, many users belong to both groups, but this
is our 5. a) market segmentation
4.7.1 TEST
1. A market is:
• a mechanism for the exchange of activities - and their results in the form of
goods and services
• a mechanism for the sale of activities - and their results in the form of goods and
services
• a mechanism for the purchase of activities - and their results in the form of goods
and services
2. Demand is term for:
• a certain quality of a certain type of goods and/or services which the buyers are
willing to buy at a certain price
• a certain quantity of a certain type of goods and/or services which the
buyers are willing to buy at a certain price
• a certain quantity of an uncertain type of goods and/or services which the buyers
are willing to buy at a certain price
3. Supply is a term for:
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MARKET
• a certain quantity of an uncertain type of goods and/or services which the sellers
are willing to supply at a certain price
• a certain quality of a certain type of goods and/or services which the sellers are
willing to supply at a certain price
• a certain quantity of a certain type of goods and/or services which the sellers
are willing to supply at a certain price
4. Competition is:
• characterized as cooperation of two or more subjects for supremacy
• characterized as rivalry of two or more subjects for inferiority
• is characterized as rivalry of two or more subjects for supremacy
5. Perfect competition:
• presupposes unequal conditions for all market agents whose large numbers prevent
anyone's supremacy or possibility to dictate terms
• presupposes equal conditions for all market agents whose large numbers
prevent anyone's supremacy or possibility to dictate terms
• presupposes equal conditions for some market agents whose large numbers prevent
anyone's supremacy or possibility to dictate terms
6. Monopoly:
• refers to a market structure where a single firm controls a fractional market
• refers to a market structure where a single firm controls half of the entire market
• refers to a market structure where a single firm controls the entire market
7. Monopsony:
• a market with a single buyer and many sellers
• a market with many buyers and a single seller
• a market with a single buyer and single seller
8. Oligopoly:
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
• a market structure with a small number of sellers
• a market structure with a large number of sellers
• a market structure with an uneven number of sellers
9. Variable cost:
• varies with every increase or decrease of output proportionally
• varies with every increase or decrease of output unproportionally
• remains the same with every increase or decrease of output proportionally
10. Direct costs:
• are not directly related to a cost unit as they can be easily identified and added
to the unit without any auxiliary computations
• are directly related to a cost unit as they cannot be easily identified and added to
the unit without any auxiliary computations
• are directly related to a cost unit as they can be easily identified and added
to the unit without any auxiliary computations
SHRNUTÍ KAPITOL Y
V kapitole Market jsme se seznámili se základními principy, na kterých funguje trh.
Jednalo se o nabídku a poptávku a cenu, dále pak funkce trhu a také konkurenci. V neposlední
řadě také se jednalo o náklady.
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MARKETING
5 MARKETING
RYCHLÝ NÁHLED KAPITOLY
V této kapitole se budete zabývat problematikou marketingu. Podíváme se také na různé
marketingové nástroje.
Budou vysvětleny základní pojmy z oblasti marketingu a další důležité termíny.
CÍLE KAPITOLY
Po absolvování kapitoly budu umět:
• vyjadřovat se k problémům spojeným s marketingem,
• orientovat se v marketingu v anglickém j azyce,
• vyjmenovat a vysvětlit nejčastěji používané spojení z oblasti marketingu,
• diskutovat a probírat aktuální záležitosti z oblasti marketingu.
KLÍČOVÁ SLOVA KAPITOLY
Market monitoring, market research, marketing, marketing mix, marketing theory,
place, primary research, product, price, promotion, secondary research.
5.1 Vocabulary
acceptance přijetí
adapt přizpůsobit se
advertising, advertisement reklama
assortment sortiment
assortment diversification prohloubení sortimentu
assortment policy sortimentní politika
authorized dealer výhradní prodejce
carry out provést
competition konkurence
conditions of the market tržní vztah, poměr
consumer buying habit nákupní zvyklost
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
customer, purchaser odběratel
data usage použití dat
delivery term, delivery condition dodací podmínka
derive odvodit
desk research výzkum od stolu
discount rabat
distribution policy distribuční politika
eliminate vyřadit
evaluation vyhodnocení
excess demand převis poptávky
excess supply převis nabídky
fieldwork polní výzkum
guarantee záruka
involve zahrnout
level of awareness stupeň známosti
mark, marking označení
market analysis analýza trhu
market information informace o trhu
market monitoring pozorování trhu
market position pozice na trhu
market research průzkum trhu
market share podíl na trhu
marketing policy politika odbytu
marketing channels odbytové cesty
measure opatření
niche mezera na trhu
overcharged předražený
payment term platební podmínka
pre-assess odhadnout dopředu
primary research primární výzkum
product category skupina výrobků
product diversity rozmanitost výrobku
product innovation inovace výrobku
product policy produkční politika
product program produkční program
product variation variace výrobků
provide obstarat
public relations práce s veřejností
purchaser, consumer odběratel
purchasing motive nákupní motiv
offer nabízet
questioning vyptávání
reduce snižovat
reasonable, affordable výhodný z hlediska nákladů
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MARKETING
repair shop, service department servis
retailer maloobchodník
retailing operation maloobchod
retrieval of information získávání informací
risk spreading rozptyl rizika
sale, selling prodej
sales promotion podpora prodeje
sales representative obchodní zástupce
sales statistics statistika obratu
scope of the program rozsah programu
secondary research sekundární výzkum
service služby
survey průzkum
targeted cílený, cíleně
traveling salesman obchodní cestující
trade, commerce obchod
utilization využití
ultimate consumer konečný spotřebitel
wholesale operation velkoobchod
wholesaler velkoobchodník
5.2 Marketing
In professional literature we can come across many defintions of marketing. However,
all of them have one joint feature in common, i.e. marketing is the process of planning,
designing, pricing, promoting and distributing ideas, goods and services, in order to satisfy
customer needs, so as to make profit. Different companies emphasize their special characteristics
of features of their products and services and at the same time point out particular
benefits, which satisfy the needs of the people who buy them.
Therefore, marketing of modern companies is market-oriented. Companies seek to identify
the wants and desires of certain types of consumers, and then produce the goods or
services that would satisfy them.
Some other theories assume that people who are like each other will also buy comparable
products. According to some other contemporary marketing theories, there are market segments.
In other words, companies identify particular segments of the market and concentrate
their products or service on them.
In that context buying behavior, demographic and geographic factors are very crucial.
As far as demographic factors are concerned, companies pay special attention to studying
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
the age. Same generations have similar needs, whereas different generations tend to show
different needs.
The role of gender is not underestimated by modern companies, as it reflects certain
spending patterns.
Socio-economic factors deal with the companies' interest in specifying their customers
according to their incomes. Customers with higher disposable incomes can afford more
luxurious goods. On the other hand, customers with lower disposable incomes are more
likely to search for reasonably priced goods.
On the geographic level, companies pay special attention to the location, where their
customers dwell. From the linguistic perspective, it is also important to note that the main
center of interest of language skills lies in the way they affect packaging, leaflets, brochures
and many others. Therefore, companies select carefully the language they use to address
bot national and international public spheres.
Buying behavior is targeted on a large scale by modern companies, too, as they want to
get closer to customers' buying behavior, including different venues they visit, when and
how they shop. It all leads to the creation of various loyalty instruments (e.g. cards, etc.),
which are practical for most companies, as they use them for monitoring customers'habits
or behaviour and respond accordingly. This enables companies to come up with special
offers to those customers, who are members of a particular product group and make a larger
profit.
On the academic or professional level, markets and customers are thoroughly examined
by professionals who are involved in market research. Market research refers to the study
carried out in a systematic manner of all the factors that are important to the success of the
company in the sales market.
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MARKETING
types of market
research
market analysis market monitoring
analysis of the market at a
specific time
observation of the market
over a determined s period
retrieval of information
primary research secondary research
original data-collection
through questioning or
observation
derived data used by
evaluating other made up
materials
market information
Zdroj: Vlastní zpracování
With market analysis, data will be collected at the given time.
In the case of market observation what is observed is how the data will change over
time. (i.e. how buyers, competition, and market share change etc.).
Further are examined:
Characteristics of the present and future (potential) customers (gender, age, occupation,
income),
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
Buying motives (why is a product bought - is it because of the benefits or because
of the beautiful form, or because of the prestige?),
Reaction of consumers to the sales measures (does advertising increase awareness
of the product, is the price perceived to be favorable or excessive?),
The nature and extent of competition (number, market share, pricing, assortment,
promotion).
Market research can be conducted in the form of primary research ("fieldwork").
Primary research uses studies performed specifically for the purpose of market research,
such as questioning, observation, and experiment.
Secondary research ("desk research")
In the secondary research the subject of the evaluation are existing internal or external
materials, e.g. sales statistics, sales reports, official statistics, publications of professional
associations, trade journals etc.
Nevertheless, conditions of the market change frequently. In addition to the time-related
analysis, therefore, the continuous market monitoring is necessary. Only then the development
("the trend") can be correctly identified or anticipated ("market forecast").
OTÁZKY
1 How do modern marketing theories perceive marketing?
2 How do modern marketing theories perceive marketing?
3 What is the main idea of market research?
4 What is the difference between primary and secondary research?
5 What is the difference between primary and secondary research?
LEXIS
5.1 Match the following descriptions with the definitions stated below:
1. product
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MARKETING
2. price
3. place
4. promotion
5. packaging
a) deciding how the product will be supported with advertising
b) deciding how it will be distributed and where customers will buy it
c) deciding what prices to charge
d) all the materials used to protect and present a product before it is sold
e) deciding what to sell
5.2 Use the expressions in the box to complete this corporate presentation:
Producers, wholesalers, distributors, retailers, distribution channel, customers, middlemen,
dealer, reseller
"Good morning, ladies and gentlemen. We are Digit IT Company based in Prague. We
started out in the PC business 20 years ago in the then Czechoslovakia when we tried to
buy a PC. There was a complicated (1) d c between the manufacturer
and the customer: (2) w , (3) r and (4)
r all added to the costs, but they did not add much value from the (5)
c 's point of view.
Here at Digit IT Company, we manufacture every PC to order and deliver straight to the
buyer. That way we cut the (6) m ."
5.3 Match the marketing related definition on the left with the letter of the
term on the right:
1. 2.
3. 4.
5. 6.
7. 8.
9. 10.
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
1. memorable motto or phrase a) brand awareness
2. a large, square sign used to post ad­ b) publicity
vertisements
3. a statement (about a product) released c) features
to the news media
4. an advertisement on TV, the radio, etc. d) press release
5. the attempt to manage how a public
sees a product
e) slogan
6. the number of people that read a par­ f) readership
ticular newspaper, magazine, etc.
7. a plan of action (to promote a product) g) campaign
8. a measure of how popular a brand is
(how many people know it, etc.)
h) complimentary
9. special characteristics, qualities i) billboard
10. free j) commercial
5.4 Explain in simple English the following marketing terms (part A)
and then try to match the definitions with the clarifications given below (part B):
A)
1. Direct marketing
2. Telemarketing
3. Product endorsement
4. Free sample
5. Niche/ niche market
1.
2.
3.
4.
5.
1. how much people recognize the brand
2. the stages in the life of a product
3. consumer goods that last a long time
4. a company's products of a particular type
5. the activities that companies have to combine successfully in order to sell
_A marketing mix
_B line range
_C lifecycle
_D brand awareness / recognition,
E consumer durables
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MARKETING
5.5 Read the following dictionary definitions. Which text goes with
which word in the box?
c) Market research
a) Market economy d) Market analysis
b) Market reports
1. is a systematic investigation of the methodological position of individual
business undertakings in the market place, which, besides market monitoring,
contributes to the creation of market transparency and sound business policy
of the company.
2. are reports / particularly the business press and the radio / on
theeconomic situation in certain markets / eg commodities, foreign exchange
markets /.
3. is a branch of marketing research. It also includes the marketing-related
information of the business accounting as a corporate
resource "and explores a specific market segment, including the collection of
the needs of those using external information sources.
4. is an economic system with decentralized planning and managing
economic processes that are coordinated by markets through the price mechanism.
5.6 Complete the following flowchart!
types of market research
... ? market monitoring
analysis of the market at a spe-
cific
...?
observation of the market
over a determined
...?
retrieval of information
primary research ... ?
... ? ...
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Martina Chylkova, Janusz Karpeta - Cizojazycnd pfiprava AJ 4
through questioning or
observation
.... by evaluating other
made up materials
5.7 Imagine you have just invented a great gadget and you intend to
market it. Still, you are not sure how to go about it. In order to make things easier for
you, Tamara Monosoff from the online magazine www.entrepreneur.com will assist
you in setting the "business" wheels in motion". Put the following tips and recommendations
into chronological order and mark them 1, 2, 3, 4, 5, 6.
Six steps to take your product to market:
a) Spend time on the United States Patent and Trademark Office
(USPTO) website to identify and read any patents similar to your concept
www.uspto.gov.
b) Develop as good a prototype as possible with your available resources.
This can be as basic as a drawing or as evolved as a professionally made
product.
c) Draft a simple business plan; starting with the fundamentals.
d) Buy one or two well-regarded books on inventing. Look for those
that focus on making money, not just patents and read them. I frequently hear
from people who say, "I bought your book but I am still confused." In answer to
a couple questions I find they have not actually read the book. After this step you
may adapt the next five steps to incorporate what you have learned in your re-
search.
e) Connect with other entrepreneurs in your local area or online to
share information, resources & offer support.
f) Conduct market research. Identify products on the market, both
online and in stores that are similar to your product idea, and note which companies
make them and where they are sold.
Zdroj: Entrepreneur.: Get Your Product to Market in Six Steps. In: [online], [cit. 2012-09-15]. Dostupne z:
http://www.entrepreneur.com/article/201526
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SAMOSTATNÝ ÚKOL
5.8 Read the following article and choose the most suitable answer.
Automakers will race to appeal to budget-conscious Chinese car buyers as the industry
expands beyond the wealthy coastal cities in the east, Ford Motor Co's (F.N) Asia chief
said on Tuesday.
As they expand more heavily into central and western China, automakers can appeal to
price-sensitive consumers by offering multiple vehicles within the same size segment at
varying prices, Joe Hinrichs said.
"The growth expected the rest of this decade in China is largely to come from the central
and western parts of the country which is more value-oriented," he told reporters at Ford's
headquarters in Dearborn, Michigan.
"You'll need to serve those customers differently," he added.
Ford's plan to introduce 15 new vehicles in China by 2015 began with last month's
launch of the new Focus. Hinrichs said last month in Beijing that Ford plans to sell cars
priced below the Fiesta, currently their cheapest model in Asia with a price ranging from
$12,300 to $17,500.
Ford sales in China rose 24 percent in April to 54,881 vehicles, spurred by strong demand
for the Focus.
Ford makes the Fiesta, Focus, Mondeo and other vehicles in China in a three-way tieup
with Chongqing Automobile Co Ltd 000625.SZ and Japan's Mazda Motor Corp
(726 l.T).
Zdroj: BusinessEnglish.com: Business English Reading Comprehension, [online], [cit. 2012-10-04]. Dostupne
z: http://www.businessenglishsite.com/readingcomprehension/source/readingcomp-6.html
1. According to the article, where in China are people more budget-minded?
a) In the central and western part of the country
b) Shanghai
c) In the coastal cities
2. Which Ford car is not mentioned in the article?
a) Mustang
b) Fiest
c) Focus
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3. How many other companies does Ford partner with to make cars in
China?
a) three
b) one
c) two
4. According to the article, China's wealthiest cities are .
a) in the central part of the country
b) in the eastern part of the country
c) in the western part of the country
5. How many new cars does Ford plan to introduce in China over the next
3 years?
a) 10
b) 15
c) Focus, Fiesta, and Mondeo
5.9 Select the correct answer:
1. Which of the following is the biggest advantage of using market segmen­
tation?
a) It consumes slightly business money.
b) It lets a company invest more in plants and machinery.
c) It allows a company to target its promotional strategy more effectively.
d) It allows a company to charge the highest prices.
2. A company offers services such as holidays and life assurance for adults
over 30. What kind of segmentation is the firm using in its marketing stra­
tegy?
a. gender segmentation
b. lifestyle segmentation
c. demographic segmentation
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d. socio-economic segmentation
3. When a company splits customers and referes to them as "middle class''
and "upper class" what kind of segmentation does it use?
a. socio-economic
b. religious
c. demographic
d. lifestyle
5.10 Look up the meaning of the following marketing terms in the dictionary:
> own transport...
> transportation cost...
> customer needs ...
> airfreight...
warehousing...
materials management...
warehouse sale...
> customer service department
selling points...
> capital goods...
consumer goods...
> wholesaler....
retailer...
> commercial agent...
> distribution policy...
distribution system...
> distribution network...
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Martina Chylkova, Janusz Karpeta - Cizojazycnd pfiprava AJ 4
> commodity ...
5.11 First read the article, then decide which of the statements is true and which
one is false:
Starbucks Corp reported better-than-expected quarterly profit but global sales at established
coffee shops fell short of analysts' estimates due to weakness in Europe, sending its
shares down five percent in after-hours trade on Thursday.
Sales from cafes open at least 13 months fell 1 percent in the Europe, the Middle East
and Africa (EMEA) region during the latest quarter. Analysts polled by Consensus Metrix
had expected a 2.2 percent rise in EMEA same-store sales.
Executives attributed the drop to weakness in Europe, which suffered its first decline in
same-store sales since 2009.
Sales fell in Ireland and Germany during the fiscal second quarter and were up just
slightly in France and the United Kingdom, Starbucks Chief Financial Officer Troy Alstead
said.
Europe has been a weak spot for the world's biggest coffee chain. The region is grappling
with debt woes and austerity measures and, earlier this week, Britain said its economy had
fallen into its second recession since the financial crisis.
"The situation is very, very tough," Chief Executive Howard Schultz said of Europe's
economy.
"We will turn the Europe business around in the same way we turned the U.S. business
around," Schultz told analysts on a conference call.
Zdroj: BusinessEnglish.com: Business English Reading Comprehension, [online], [cit. 2012-10-04]. Dostupne
z: http://www.businessenglishsite.com/readingcomprehension/source/readingcomp-8.html
1. Starbucks' shares plunged by 5% that their quarterly profits failed to
meet analysts' estimates.
T F
2. Quarterly profits" refer to profits during four months.
T F
3. According to the article, it was in France where Starbucks' did not see
a slight increase in sales.
T F
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4. According to the article Europe's financial problems are to blame for
Starbucks' woes in Europe.
T ... F
5. Starbucks has always struggled in Europe.
T ... F
5.12 Look at the following paragraphs. They are in random order. Arrange them
in logical order, as they are likely to follow.
1. Apple's decision to equip the next iPhone with a larger screen represents part
of a competitive response to Samsung Electronics Co Ltd.
2. ... It is likely all three of the screen suppliers will get production orders from
Apple, which could begin as soon as June. That would allow the new iPhone
to go into production as soon as August, if the company follows its own precedent
in moving from orders for prototypes for key components to launch
3. ... Samsung unveiled its top-of-the-line Galaxy smartphone with a 4.8-inch
touch-screen and a faster processor earlier this month.
4. ... With consumers becoming more and more comfortable using
smartphones for tasks they once performed on laptops, like watching video,
other smartphone manufacturers have also moved toward bigger displays.
5. ... Apple Inc plans to use a larger screen on the next-generation iPhone and
has begun to place orders for the new displays from suppliers in South Korea
and Japan, people familiar with the situation said on Wednesday.
6. ... Early production of the new screens has begun at three suppliers: Korea's
LG Display Co Ltd, Sharp Corp and Japan Display Inc, a Japanese government-brokered
merger combining the screen production of three companies.
7. ... The new iPhone screens will measure 4 inches from corner to corner, one
source said. That would represent a roughly 30 percent increase in viewing
area, assuming Apple keeps other dimensions proportional. Apple has used
a 3.5-inch screen since introducing the iPhone in 2007.
Zdroj: BusinessEnglish.com: Business English Reading Comprehension, [online], [cit. 2012-10-04]. Dostupne z:
http://www.businessenglishsite.com/readingcomprehension/source/readingcomp-2.html
5.3 International marketing
As technology creates leaps in communication, transportation, and financial flows, the
world continues to feel smaller and smaller. It is possible for companies and consumers to
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conduct business in almost any country around the world thanks to advances in international
trade. According to the World Trade Organization, the volume of international merchandise
trade increased 33 times between 1951 and 2010.
Brands and products that originate in one country are enthusiastically accepted in
others. For example, Louis Vuitton handbags, BMWs, and Columbian coffee, all foreign
products, are symbols of status and quality in the United States - and many American
brands, like Warner Brothers motion pictures, have similar footholds overseas.
However, globalization has created just as many challenges as opportunities for brands
that venture overseas. Because consumers have so many more options for similar products,
companies must ensure that their products are high in quality and affordability. Additionally,
these products cannot be marketed identically across the globe. International marketing
takes more into consideration than just language - it involves culture, market saturation,
and customer behaviors. American and European companies especially have turned their
international marketing efforts into something more than just exporting - they have adapted
their branding to account for differences in consumers, demographics, and world markets.
Companies who have done this very well include Coca-Cola, who discovered that the
word 'Diet' carries a negative connotation in Latin America and changed the name of their
zero-calorie product to 'Coke Lite' for those countries. UPS, known in America for their
brown trucks, issued a fleet of a different color after learning that their flagship brown
trucks resembled Spanish hearses.
What is international marketing?
International marketing is the application of marketing principles in more than one
country, by companies overseas or across national borders. International marketing is based
on an extension of a company's local marketing strategy, with special attention paid to
marketing identification, targeting, and decisions internationally.
According to the American Marketing Association (AMA) "international marketing is
the multinational process of planning and executing the conception, pricing, promotion and
distribution of ideas, goods, and services to create exchanges that satisfy individual and
organizational objectives."
Who employs international marketing?
Rapid technological advances mean that geographical and cultural communication
barriers are disappearing, and even smaller businesses without a physical presence in other
countries can market and sell their products internationally. This means that almost anyone
with the desire can market internationally, but will do so with varying levels of success,
depending on the thought and research that is put into the international marketing strategy.
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Companies selling goods that have customs restrictions, like food and live plants, must
contend with a more rigorous regulatory process before marketing their products internationally.
While they may have a more difficult time setting up their international export
business, they also have the opportunity to expose other countries to native products they
couldn't access otherwise.
Other types of companies that often perform well internationally include those involved
in export, joint ventures, and direct investment.
Exporting is the practice of shipping goods directly to a foreign country. Prominent
companies that do an excellent job of marketing their foreign exports to the United States
include Fanta soft drinks, Honda, and retail giant H&M. In fact, H & M paid $3.5 million
for a 30-second commercial during the 2012 Super Bowl, a marketing bonanza that has
long been dominated by American brands.
Joint venture companies refer to the combined efforts of two or more businesses to their
mutual benefit. One of the most famous international joint venture success stories is SonyEricsson,
a partnership between a Japanese electronics company and a Swedish telecommunications
company. Their international marketing strategy, comprised of bright colors and
modern shapes, has helped make the joint venture known the world over.
A direct investment company places a fixed asset in a foreign country with the aim of
manufacturing a product, or part of a product, abroad. Dell computers, for example, is an
American company with factories in many other countries that assemble personal computers
from parts made all around the world. Dell then markets their computers with an exceptional
emphasis on customer needs and customization - unlike other companies that sell
pre-manufactured products; Dell computers are custom-assembled after customers place
their orders.
What kinds of customers are effectively marketed to with international marketing?
Depending on your brand, any foreign citizen is a potential customer. But how does a
marketing team figure out how to tap into an international market? Customers who live in
foreign markets have different buying habits, preferences, and priorities than the customers
they're familiar with. By tracking these foreign customers through market research and cultural
surveys, marketers can discover the best methods of reaching them.
Trying to market a brand to international customers without researching is just asking
for trouble, as companies have proven time and time again. Careful consideration of a culture's
beliefs and prejudices is important in international marketing. For example, the Muslim
culture considers dogs to be dirty animals. So, positioning a dog as "man's best friend"
in a Middle Eastern country will surely fall flat.
How is an international marketing plan developed and employed?
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
It can be difficult for a small or medium-sized corporation to initially build an international
marketing plan, because they generally don't have the expertise or budget to launch
the campaign. By partnering with another group or hiring marketing experts with knowledge
of foreign markets, smaller companies can build their cultural research and implement
more successful campaigns.
Whether a company chooses to partner with another foreign agency or hire an inside
international marketing representative, the most important facet of building a successful
international marketing campaign is the research they conduct. Research will inform the
company's marketing mission as they proceed, allowing them to maximize potential in new
markets.
Once research is completed and a market is chosen, experts should examine and modify
a brand's marketing strategy so that it fits their target demographics. Hiring representatives
from the country will help ensure that all cultural differences are handled appropriately and
with sensitivity.
For an emerging international brand, establishing partnerships and networking with
other companies in the country are essential for success. Partners within a target market
help new companies establish themselves in markets where they would otherwise have
gone unnoticed.
Finally, it is important to review an international marketing strategy on a quarterly
basis. Even if a company sends representatives to travel to the foreign market, it is much
more difficult to keep a finger on the pulse of an overseas marketing campaign. This means
that results need to be tracked extremely closely, and tweaks should be made regularly to
help a product gain the appropriate foothold for success.
What should be avoided in international marketing
• Pepsodent tried to market its toothpaste in Southeast Asia by claiming that it
"whitens your teeth," before learning that some locals chewed betel nuts to blacken their
teeth, a sign of attractiveness in their culture.
• The Scandinavian vacuum manufacturer Electrolux didn't account for a common
American colloquialism when marketing their vacuum in the U.S: "Nothing sucks like an
Electrolux".
• The soft drink Fresca was marketed under that name in Mexico ... before the company
discovered that 'fresca' is a slang term for lesbian in parts of Mexico.
• Pepsi used the slogan "Come Alive With Pepsi" in Taiwan ... or so they thought.
The slogan was actually translated as: "Pepsi brings your ancestors back from the dead."
• The Coors slogan "Turn It Loose," was translated into Spanish as "Suffer From
Diarrhea."
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What are the prospects of international marketing?
According to a 2012 survey the World Federation of Advertisers (WFA) predicts:
• 95% of WFA members believe their future growth will come from outside the US
• Over 71% think some of the best ad campaigns are being developed abroad
• 75% of marketers think that American brands can learn a lot from foreign cam-
paigns
• Only 11% think that US marketers pay enough attention to the rest of the world.
Zdroj: International Marketing [online], [cit. 2018-0-11]. Dostupne z: http://www.marketing-schools.org/types-of-
marketing/international-marketing.html
1 What are reasons for dealing with international marketing?
2 What are the basics of international marketing?
3 What operations does international marketing involve?
4 What kinds of customers are effectively marketed to with international marketing?
5 How is an international marketing plan developed and employed?
6 What should be avoided in international marketing?
7 What are the prospects of intetrnational marketing
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
OTÁZKY
5.4 Test
1. Some marketers believe that pricing is the most important
in the marketing mix.
a) idea
b) value
c) item
2. In marketing, a product's refers to how potential buyers
see the product.
a) position/positioning
b) placement
c) profit
3. Re-positioning involves changing the of a product.
a) identification
b) identical
c) identity
4. Viral marketing uses "word-of- " ( = information
passed from one person to another) to increase brand awareness.
a) speech
b) month
c) mouth
5. In marketing, market segmentation refers to the of a
market into different parts/segments.
a) division
b) split
c) cutting
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6. placement refers to having a brand (Coke, Nike, etc.)
appear during a movie, show, etc. Companies usually pay a lot of money
to have their products appear this way.
a. stuff
b. object
c. product
7. "Brand entertainment" is a fairly new concept that involves marketing
a brand within the of "original" programming. In
other words, the advertisements become part of a program.
a) contentment
b) contextual
c) context
8. The written part of an advertisement is what's known as "marketing
".
a) strucutre
b) copy
c) letters
9. In marketing terms, a " " customer is an "average"
customer.
a) mid-tier
b) middle of the road
c) middle way
10. When marketing specialists speak about a , they are
referring to a decline in an economic cycle.
a) downsize
b) downturn
c) downtime
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Martina Chylkova, Janusz Karpeta - Cizojazycnd pfiprava AJ 4
11. Horizontal marketing refers to when two companies market their
products ( = together)
a) joined
b) jauntily
c) jointly
12. When marketers speak about "engaging" an industry, they are referring
to creating an interest or within the industry
about a product, service, etc.
a. clientele
b. buzz
c. stupor
13. The process of gathering, recording and analyzing of data about customers,
competitors and the market is called market .
a) review
b) replay
c) research
14. We plan to this product in the Spring of 2013.
a) lunch
b) launch
c) lynch
15. I'm doing an of consumer trends in cellular markets
such as Canada.
a) analysis
b) analyze
c) analytics
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0 ODPOVĚDI
5.5 Key
LEXIS
5.1 Match the following descriptions with the definitions stated below:
1. E
2. C
3. B
4. A
5. D
5.2 Use the expressions in the box to complete this corporate presentation:
"Good morning, ladies and gentlemen. We are Digit IT Company based in Prague. We
started out in the PC business 20 years ago in the then Czechoslovakia when we tried to
buy a PC. There was a complicated (1) distribution channel between the manufacturer
and the customer: (2) wholesalers, (3) retailers and (4) resellers all added to the costs, but
they did not add much value from the (5) customer's point of view. Here at Digit IT Company,
we manufacture every PC to order and deliver straight to the buyer. That way we cut
the (6) middlemen."
5.3 Match the marketing related definition on the left with the letter of the
term on the right:
l.e) 6.f)
2. i) v.g)
3. d) 8. a)
4.J) 9. c)
5.b) 10. h)
5.4 Explain in simple English the following marketing terms (part A) and
then try to match the definitions with the clarifications given below (part B):
A
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
1. Direct marketing - is a method of selling goods directly to consumers rather
than through retailers, usually by mail order, direct-mail shot, newspaper advertising,
door-to-door selling, telephone selling, the Internet, or television
home-shopping channels.
2. Telemarketing - is the business or practice of marketing goods or services
by telephone.
3. Product endorsement - in promotion and of advertising, is a testimonial or
show consists of a written or spoken statement, from a well-known figure
(celebrity) or from a private citizen, extolling the virtue of some product.
4. Free sample - is a portion of food or other product (for example, beauty
products) given to consumers in shopping malls, supermarkets, retail stores,
or other venues.
5. Niche - is a special area of demand for a product or service.
1. D
2. C
3. E
4. B
6. A
5.5 Read the following dictionary definitions. Which text goes with
which word in the box?
1. C - market research
2. B - market report
3. D - market analysis
4. A - market economy
5.6 Complete the following flowchart:
types of market research
Market analysis market monitoring
observation of the market
over a determined
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MARKETING
analysis of the market at a specific
time period
retrieval of information
Market information
primary research
Market information
Secondary research
Original data-collection
through questioning or
observation
Market information
Derived data used
by evaluating other
made up materials
Market information
5.7 Imagine you have just invented a great gadget and you intend to
market it. Still, you are not sure how to go about it. In order to make things easier for
you, Tamara Monosoff from the online magazine www.entrepreneur.com will assist
you in setting the "business" wheels in motion". Put the following tips and recommendations
into chronological order and mark them 1, 2, 3, 4, 5, 6.
1. d) Buy one or two well-regarded books on inventing. Look for those that focus
on making money, not just patents and read them. I frequently hear from people
who say, "I bought your book but I am still confused." In answer to a couple
questions I find they have not actually read the book. After this step you may
adapt the next five steps to incorporate what you have learned in your research.
2. f) Conduct market research. Identify products on the market, both online and
in stores that are similar to your product idea, and note which companies make
them and where they are sold.
3. a) Spend time on the United States Patent and Trademark Office (USPTO)
website to identify and read any patents similar to your concept
www.uspto.gov.
4. b) Develop as good a prototype as possible with your available resources.
This can be as basic as a drawing or as evolved as a professionally made
product.
5. e) Connect with other entrepreneurs in your local area or online to share
information, resources & offer support.
6. c) Draft a simple business plan; starting with the fundamentals.
5.8 Read the following article and choose the most suitable answer.
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1. According to the article, where in China are people more budget-minded?
a) In the central and western part of the country
b) Shanghai
c) In the coastal cities
2. Which Ford car is not mentioned in the article?
a) Mustang
b) Fiest
c) Focus
3. How many other companies does Ford partner with to make cars in
China?
a) three
b) one
c) two
4. According to the article, China's wealthiest cities are .
a) in the central part of the country
b) in the eastern part of the country
c) in the western part of the country
5. How many new cars does Ford plan to introduce in China over the next
3 years?
a) 10
b) 15
c) Focus, Fiesta, and Mondeo
5.9 Select the correct answer:
1. C
2. C
3. A
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5.10 Look up the meaning of the following marketing terms in the dictio­
nary:
> own transport... vlastní doprava
> transportation cost... náklady na přepravu
> customer needs ... potřeby zákazníka
> airfreight... letecká přeprava
> warehousing ... skladování
> materials management... řízení materiálu
> warehouse sale ... prodej ve skladu
> customer service department... oddělení služeb zákazníkům
> selling points ... prodejní místa
> capital goods ... kapitálové zboží
> consumer goods ... spotřební zboží
> wholesaler... velkoobchodník
> retailer ... maloobchodník
> commercial agent... obchodní agent
> distribution policy ... distribuční politika
> distribution system ... distribuční systém
> distribution network ... distribuční síť
> commodity ... produkt, výrobek, komodita
5.11 First read the article, then decide which of the statements is true
and which one is false:
1. T
2. F
3. F
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Martina Chylkova, Janusz Karpeta - Cizojazycnd pfiprava AJ 4
4. T
5. T
5.12 Look at the following paragraphs. They are in random order.
Arrange them in logical order, as they are likely to follow.
1. ... Apple Inc plans to use a larger screen on the next-generation iPhone and
has begun to place orders for the new displays from suppliers in South Korea
and Japan, people familiar with the situation said on Wednesday.
2. ... The new iPhone screens will measure 4 inches from corner to corner, one
source said. That would represent a roughly 30 percent increase in viewing
area, assuming Apple keeps other dimensions proportional. Apple has used a
3.5-inch screen since introducing the iPhone in 2007.
3. ... Early production of the new screens has begun at three suppliers: Korea's
LG Display Co Ltd, Sharp Corp and Japan Display Inc, a Japanese government-brokered
merger combining the screen production of three companies.
4. ... It is likely all three of the screen suppliers will get production orders from
Apple, which could begin as soon as June. That would allow the new iPhone
to go into production as soon as August, if the company follows its own
precedent in moving from orders for prototypes for key components to
launch.
5. ... Apple's decision to equip the next iPhone with a larger screen represents
part of a competitive response to Samsung Electronics Co Ltd.
6. ... Samsung unveiled its top-of-the line Galaxy smartphone with a 4.8-inch
touch-screen and a faster processor earlier this month.
7. ... With consumers becoming more and more comfortable using
smartphones for tasks they once performed on laptops, like watching video,
other smartphone manufacturers have also moved toward bigger displays.
5.5.1 TEST
1. Some marketers believe that pricing is the most important
in the marketing mix.
a) idea
b) value
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MARKETING
c) item
2. In marketing, a product's refers to how potential buyers
see the product.
a) position/positioning
b) placement
c) profit
3. Re-positioning involves changing the of a product.
a) identification
b) identical
c) identity
4. Viral marketing uses "word-of- " ( = information
passed from one person to another) to increase brand awareness.
a) speech
b) month
c) mouth
5. In marketing, market segmentation refers to the of a
market into different parts/segments.
a) division
b) split
c) cutting
6. placement refers to having a brand (Coke, Nike, etc.)
appear during a movie, show, etc. Companies usually pay a lot of money
to have their products appear this way.
a. stuff
b. object
c. product
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
I. "Brand entertainment" is a fairly new concept that involves marketing
a brand within the of "original" programming. In
other words, the advertisements become part of a program.
a) contentment
b) contextual
c) context
8. The written part of an advertisement is what's known as "marketing
".
a) strucutre
b) copy
c) letters
9. In marketing terms, a " " customer is an "average"
customer.
d) mid-tier
e) middle of the road
f) middle way
10. When marketing specialists speak about a , they are
referring to a decline in an economic cycle.
a) downsize
b) downturn
c) downtime
II. Horizontal marketing refers to when two companies market their
products ( = together)
a) joined
b) jauntily
c) jointly
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MARKETING
12. When marketers speak about "engaging" an industry, they are referring
to creating an interest or within the industry
about a product, service, etc.
a. clientele
b. buzz
c. stupor
13. The process of gathering, recording and analyzing of data about customers,
competitors and the market is called market .
a) review
b) replay
c) research
14. We plan to this product in the Spring of 2013.
a) lunch
b) launch
c) lynch
15. I'm doing an of consumer trends in cellular markets
such as Canada.
a) analysis
b) analyze
c) analytics
SHRNUTÍ KAPITOLY
V kapitole Marketing j sme se zaměřili na moderní prvky marketingu. Věnovali jsme
se problémům spojeným s marketingem, popisovali jsme marketingové nástroje a jiné
nezbytné kroky v marketingové komunikaci.
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
6 EMPLOYMENT
RYCHLÝ NÁHLED KAPITOLY
V této kapitole se budete zabývat problematikou spojenou se zaměstnanosti. Podíváme
se také na různé oblasti spojené s danou tématikou. Budou vysvětleny základní pojmy z
oblasti zaměstnanosti a personální politiky a další termíny.
CÍLE KAPITOLY
V této kapitole se naučím:
• vyjadřovat se k problémům spojeným se zaměstnanosti,
• orientovat se v oblasti zaměstnání v anglickém jazyce,
• základní slovní zásobě související s tématem,
• terminologii spojené s tímto tématem,
• porozumět odbornému textu v této oblasti.
KLÍČOVÁ SLOVA KAPITOLY
Bonus, conditions, employment, fringe benefit, hours, job, job application, job centre,
job security, occupation, overtime, profession, redundancy, retirement, salary, wage,
working.
6.1 Vocabulary
add up sečíst
agree to souhlasit
average průměrný, průměr
bonus prémie
by notice výpovědí
calculate vypočítat, spočítat
circumstance okolnost
collective agreement kolektivní smlouva
collective bargaining kolektivní vyjednávání
company canteen závodní jídelna
day off den pracovního volna
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EMPLOYMENT
deduction odečtení, sražení
duty povinnost
employment zaměstnání
entitlement oprávnění, nárok
exemption výjimka
fixed time pevná pracovní doba
fixed time doba určitá
flexi time pružná pracovní doba
full time employee zaměstnanec na plný úvazek
guideline směrnice
human resources department personální oddělení
incentive rate pobídková sazba
indeterminate time doba neurčitá
job práce
job benefit zaměstnanecké výhody
nominal wage nominální mzda
notice oznámení
occupation povolání
opt-out vycouvání
paid leave placená dovolená
part time employee zaměstnanec na částečný úvazek
pension scheme důchodové zabezpečení
performance výkon
piece rate kusová sazba
profession profese
real wage reálná mzda
regulation předpis, směrnice
remuneration odměna
rest break pauza na odpočinek
salary plat
time rate časová sazba
6.2 Employment
Journalist: Good morning, ladies and gentlemen. In our today's business special report
we will talk about employment, and to be more specific about some musts employers in the
UK have to observe. Let me introduce you to our special guest who is involved in this field.
Her name is Susan Smith and she represents the government professional working for
Business Link, which is government's online resource for business. Welcome to our pro­
gram!
Susan Smith: It is my pleasure to be here with you and your audience.
Journalist: Imagine, you are an employer in the UK, what are some basic guidelines,
which refer to working hours?
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
Susan Smith: Unless the worker has an opt-out agreement, or an exemption applies,
workers aged 18 or over cannot be forced to work for more than 48 hours a week on
average. The average is calculated by adding up all the working time over the reference
period. You must keep records of your workers' hours to show you're complying with the
Working Time Regulations. It's also good practice.
Journalist: How does an employer calculate average working hours of his/her em­
ployees?
Susan Smith: Workers' hours are usually calculated as an average over 17 weeks. In
this, make sure you should include work-related training, travel as part of a worker's duties
and working lunches. Working time does not include travelling between home and work,
lunch breaks, evening classes or day-release courses. Through a workforce or collective
agreement, your workers can agree to a longer period over which to average their working
hours - up to 52 weeks.
Journalist: In the U K there is the opt-out system available. How does it relate to
working hours?
Susan Smith: By signing a written agreement, most workers can agree to work longer
than the 48-hour limit. They can cancel this opt-out agreement whenever they want as long
as they give their employer at least seven days' notice. Mobile workers in the road transport
industry cannot 'opt-out' of the weekly working time limits. There are similar restrictions
concerning crews on vessels, and aircraft.
Journalist: And what rules apply to employing young workers?
Susan Smith: Special rules apply to young workers under the age of 18 and these differ
according to their age. We have got a special guide, which sets out the rules that apply to
young workers.
Journalist: Yes, I see. However is there any time left for employees to have a rest break?
Susan Smith: Your workers are entitled to regular breaks in the working day. Workers
aged 18 or over should be offered a minimum 20-minute break for every shift lasting more
than six hours. You can decide when your workers take their break, but it mustn't be at the
beginning or end of a shift. You must also allow your workers any breaks they need as a
result of any health condition or disability.
Journalist: What rest periods between working days apply in the UK?
Susan Smith: Your workers are entitled to regular rest periods between working days in
addition to any holiday entitlement. Workers aged 18 and over should have a minimum
11 hours' rest between each working day, and shouldn't be forced to work more than six
days in every seven, or 12 days in every 14. Exceptions can be made for busy periods,
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emergencies and people working away from home. In these cases, rest periods can be compensated
for and taken later. When organising rest periods you need also to consider the
maximum average working week which is normally 48 hours.
Journalist: Do the same rest periods apply to young workers too?
Susan Smith: Workers aged 16 and 17 should take at least 30 minutes' break if they
work more than four and a half hours. If they also work for another employer, the time
worked in total must be considered when calculating entitlement to breaks. Only in exceptional
circumstances can young workers miss their breaks - and then they should receive
compensatory rest within three weeks. Between working days, they must have two days off
every week, normally two consecutive days. Only in exceptional circumstances can these
rules be changed.
Journalist: Are there any exemptions for specific professions?
Susan Smith: Yes, these regulations do not apply to workers in air, rail, road, sea, inland
waterway and lake transport, sea fishing, other work at sea - mainly the offshore oil and
gas industry - and doctors in training. There are also special rules for mobile workers.
Journalist: Thank you very much for giving us an insight into the employment issues
in the UK.
Susan Smith: You are welcome!
Zdroj: BUSINESS LINK: Employment & skills. In: [online], [cit. 2012-09-15]. Dostupné z:
http://www.businesslink.aov.uk/bdota/action/laver?r.s=tl&topicld=1073858787
OTÁZKY
1 Explain the basics of working hours in the UK?
2 Clarify the main principles of the opt-out system in the UK.
3 Which professions are subject to an exemption of the regulations stated above in the
article?
4 What rest breaks apply in the UK?
5 What rest periods apply in the UK?
6 How are the working hours calculated?
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
LEXIS
6.1 Match the following terms with the definitions stated below:
1. Fringe benefit...
2. Salary...
3. Overtime...
4. Bonus...
5. Commission...
a) a fixed regular payment, typically paid on a monthly basis but often expressed
as an annual sum, made by an employer to an employee, especially a professional
or white-collar worker
b) a sum, typically a set percentage of the value involved, paid to an agent in a
commercial transaction.
c) sum of money added to a person's wages as a reward for good performance
d) time worked in addition to one's normal working hours
e) an extra benefit supplementing an employee's money wage or salary, for
example a company car, private health care, etc.
6.2 Choose and complete the most suitable expressions listed below:
HHD is a medium-sized company, which deals with the recruitment of new employees.
The company has to have regular performance 1. with one of the managers.
Due to the economic situation on the local market, the company is forced
to lay staff 2. . Some of the staff members will be thus put on
temporary 3. or replaced or outsourced by 4. . In the medium
term, HHD will consider 5. off more senior employees. The new
management of HHD aims at making the company 6. and 7.
. It is expected then some of the current employees will be made 8.
1. review/reviews/reviewer 5. laid/lying/laying
2. on/off/out 6. flat/flatten/flatter
3. contracting/contractual/contracts 7. leant/leaner/lean
4. freelancer/freelanced/freelancers 8. redundancy/redundancies/redundant
6.3 Match the job-related terms in English on the left with the corresponding Czech
translation (letters) on the right:
1. ... 6....
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EMPLOYMENT
2. ...
3. ...
7. ...
8. ...
4. ... 9. ...
5. ... 10. ...
1. job satisfaction a) pracovní požadavky
2. job market b) jistota zaměstnání
3. job security c) popis funkce
4. job description d) trh práce
5. job centre e) hodnocení práce
6. job interview f) název funkce
7. job evaluation g) pracovní úřad
8. job opportunity h) pracovní uspokojení
9. job requirements i) pracovní příležitost
10. job title j) pracovní pohovor
6.4 Explain in simple English the various employment terms (part A) and then try
to match the definitions with the clarifications given below (part B):
1. employment
2. occupation
3. profession
4. job
1
2
3
4
A. a paid occupation, especially one that involves prolonged training and a formal qu­
alification
B. a paid position of regular employment, or a task or piece of work, especially one
that is paid
C. the state of having paid work or the action of giving work to someone for remune­
ration
D. employment in which a worker performs a certain role for a longer time
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Martina Chylkovä, Janusz Karpeta - Cizojazycnä pfiprava AJ 4
6.5 Complete the tables with suitable forms:
Table 1
Noun verb
1. retirement to ...
2 to lay off
3 to demote
4.to terminate ...
dismissal to ...
Table 2
Noun adjective
1. ... freelance
2. seniority
3. ... insecure
4. flexibility
5. ... redundant
6.6 Match the definitions with the most suitable adjectives describing skills:
A. team player B. talented C. motivated D. numerate E. computer-literate F. methodical,
systematic and organized G. self-starter, proactive, self-motivated or self-dri-
ven
1. ... Pete, our new project manager, is very keen to do well in his job.
2. ... Alice, who is a new branch manager in Canada, is good at working on
her own.
3. ... Product developers are known for being able to work in a planned and
orderly way.
4. ... Mark, who is the head of the IT department, is good with computers.
5. ... Accountants are good with numbers.
6. ... Staff members at McDonald's Company have able to work well with
other counterparts at workplace.
7. ... Product designers have to be naturally very good at what they do.
6.7 Imagine you are human resource manager. One of your key responsibilities is
to make sure your staff are well motivated and led. Read the following article, which
contains some practical and useful tips and recommendations made by co-founder
and managing director Julie Anne Murray of PJ Locums Company - a privately
owned recruitment agency placing overseas healthcare personnel in the health and
social care sectors. Put the following tips and recommendations into chronological
order and mark them 1,2,3. Then discuss with your partner how you would motivate
and lead your staff:
Here's how leading and motivating staff has helped my business to grow:
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A. ... Inspire, involve and reward
"We introduced weekly company meetings, staff surveys, team-building events and
away-days to gather ideas and get feedback. Training, appraisals, promotion and career
progression have also been addressed.
"Money isn't everything, but it's important. We introduced bonuses and a new commission
system to encourage staff to meet and exceed performance targets, which they regularly
do.
"We involve people in decision-making and try to create an open and collaborative
working environment. The company culture is based on trust, teamwork, communication
and shared goals. Staff feedback confirms this.
"However you do it, the proof of leadership is in the performance of your company. In
the last 18 months, our growth has accelerated dramatically, with turnover up from £1.25
million to £3.6 million."
B. ... Change the mindset
"In the first year my two partners and I were too busy getting the business off the ground
to focus on leadership.
"A discussion with our bank was the wake-up call. They were concerned that while we
were growing, we hadn't planned ahead and therefore risked being unable to cope. We
needed a new mindset, so we began working with a business coach, Mark Grant of Action
International. His input started us down the road towards organisational change."
C. ... Start with the basics
"We began by restructuring, and having been a co-founder I became managing director.
This encouraged me to delegate and concentrate on leadership issues. With input from
management and employees, I redefined our mission statement and objectives, wrote a
three-year plan and made sure our goals were communicated throughout the company.
"I also introduced new policies, processes and measurement. Everything we do now has
a system behind it, a process to follow and a measurable target. This is important because
it allows other people to take over the day-to-day activities and frees my time to focus on
key strategic and tactical matters."
Zdroj: BUSINESS LINK: Here's how leading and motivating staff has helped my business to grow. In: [online],
[cit. 2012-09-15]. Dostupne z: http://www.businesslink.gov.uk/bdotg/action/detail7ite-
mld=1077347013&r.H=1073858787&r.s=sc&type=CASE%20STUDIES#
120
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
6.8 Use the correct phrasal verb:
1. The new CEO wants Mike to the new Russian
unit.
a. head up
b. lead off
c. factor in
2. We always contract that work .
a. up
b. out
c. around
3. Vodafone a brilliant job benefits strategy
for its staff.
a. brought in
b. drew up
c. turned around
4. This new working time scheme doesn't up
to its predecessors.
a. bring
b. work
c. measure
5. Our enterprise aside 3% of our budget for
the remuneration policy.
a. sits
b. places
c. sets
6. The newly appointed human resources manager
the offer made by trade unions because he
was not happy with the excessive conditions it contained.
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EMPLOYMENT
a. turned down
b. let off
c. brought out
7. The human resources department had to on
their budget and remuneration program.
a. come off
b. cut back
c. let down
8. The new managing director has a plan to
out the money losing branches in the North-Moravian Region.
a. give
b. make
c. bail
9. We are now in a difficult position. I'm sure our team can
something out.
a. work
b. do
c. lead
10. The research on equal treatment of temporary workers was
by a team of German scientists.
a. placed under
b. carried out
c. led into
6.9 Read the following article and mark the statements true or false:
Here's how leading and motivating staff has helped my business to grow
Change the mindset
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
"In the first year my two partners and I were too busy getting the business off the ground
to focus on leadership.
"A discussion with our bank was the wake-up call. They were concerned that while we
were growing, we hadn't planned ahead and therefore risked being unable to cope. We
needed a new mindset, so we began working with a business coach, Mark Grant of Action
International. His input started us down the road towards organisational change."
Start with the basics
"We began by restructuring, and having been a co-founder I became managing director.
This encouraged me to delegate and concentrate on leadership issues. With input from
management and employees, I redefined our mission statement and objectives, wrote a
three-year plan and made sure our goals were communicated throughout the company.
"I also introduced new policies, processes and measurement. Everything we do now has
a system behind it, a process to follow and a measurable target. This is important because
it allows other people to take over the day-to-day activities and frees my time to focus on
key strategic and tactical matters."
Inspire, involve and reward
"We introduced weekly company meetings, staff surveys, team-building events and
away-days to gather ideas and get feedback. Training, appraisals, promotion and career
progression have also been addressed.
"Money isn't everything, but it's important. We introduced bonuses and a new commission
system to encourage staff to meet and exceed performance targets, which they regularly
do.
"We involve people in decision-making and try to create an open and collaborative
working environment. The company culture is based on trust, teamwork, communication
and shared goals. Staff feedback confirms this.
"However you do it, the proof of leadership is in the performance of your company. In
the last 18 months, our growth has accelerated dramatically, with turnover up from £1.25
million to £3.6 million."
1. According to the article Mark Grant initiated the change in the business.
T...F
2. According to the article leadership issues were not so important when implementing
the change in the business.
T...F
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EMPLOYMENT
T...F
T...F
T...F
T...F
3. Julie Anne Murray - managing director at PJ Locums Company began
to collect feedback from different strata and levels in PJ Locums
Company.
4. The company introduced a new set of policies aimed at improving company
meetings, team building events, training, appraisals, promotion
and career progression.
5. According to Julie Anne Murray money is the most crucial issue in her
business.
6. According to the article, the implemented changes resulted in a decline
of the company's turnover.
7. Some of the mentioned key values in PJ Locums Company are trust,
teamwork, communication and shared goals.
T...F
6.10 Translate the following terms into English:
1. firemní penzijní plán...
2. odměňovat zaměstnance...
3. placená dovol ená...
4. mateřská dovolená...
5. nemocenská dovolená...
6. podat rezignaci...
7. propustit zaměstnance...
8. ukončit pracovní poměr výpovědí...
9. přijmout odstupné...
10. žádat o vyšší plat...
11. obohacení práce...
12. pracovní příležitost...
13. hledání práce...
14. základní plat...
15. průměrná mzda
16. kariérní postup...
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
17. žádost o místo...
18. pracovní pohovor...
19. míra zaměstnanosti...
20. být odměňován podle výkonu...
6.11 Look up the meaning of the following employment terms in the dictionary:
1. bonus...
2. job benefits...
3. job switching...
4. real wage...
5. nominal wage...
6. compensation...
7. fully paid holidays...
8. working week...
9. voluntary worker...
10. self-employment...
11. unemployment benefits
12. life assurance...
13. to be on trial...
14. workforce...
15. employer...
16. employee...
17. contract between two parties...
18. to void a contract...
19. to sign an employment contract...
20. to retire...
SAMOSTATNÝ ÚKOL
Go online and find some of the latest job adverts you find the most attractive. Describe
them and talk about the benefits of those advertised jobs. Discuss all possible details
concerned.
OTÁZKY
6.3 Test
1. This contract can be by either party.
125
EMPLOYMENT
a. terminated
b. quit
c. stopped
2. Could you please confirm that ?
a. writing
b. by writing
c. in writing
3. In employment law, if one party does something that goes against the
terms of a contract is known as " " the
terms of a contract.
a. bashing
b. breaching
c. beating
4. As you can see this employment contract
all the terms that we agreed upon during negotiations.
a. includes
b. produces
c. promotes
5. This contract that your company will be
the sole provider of accommodation services for our events.
a. issues
b. ensures
c. endures
6. My new job offers more growth .
a. potency
b. patents
c. potential
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
7. Having read your employment contract carefully, I
decline your offer.
a. with respect
b. respectfully
c. in respect
8. My previous boss made some , but it
wasn't enough to prevent me from leaving the company.
a. conncections
b. conceptions
c. concessions
9. In any employment, if you provide your employer with a list of
, you are providing a list of things that
you are/were not happy with at your job.
a. statistics
b. grievances
c. merits
10. Most career advisors accepting a counter-offer.
In fact, many feel that accepting such an offer can seriously
hurt your career.
a. present advice not
b. advise against
c. give advice against
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EMPLOYMENT
0 ODPOVĚDI
6.4 Key
LEXIS
6.1 Match the following terms with the definitions stated below:
1. E
2. A
3. D
4. C
5. B
6.2 Choose and complete the most suitable expressions listed below:
HHD is a medium-sized company, which deals with the recruitment of new employees.
The company has to have regular performance 1. reviews with one of the managers. Due
to the economic situation on the local market, the company is forced to lay staff 2. off.
Some of the staff members will be thus put on temporary 3. contracts or replaced or outsourced
by 4. freelancers. In the medium term, HHD will consider 5. laying off more
senior employees. The new management of HHD aims at making the company 6. flatter
and 7. leaner . It is expected then some of the current employees will be made 8. redun­
dant.
6.3 Match the job-related terms in English on the left with the corresponding
Czech translation (letters) on the right:
l . H 6. J
2. D 7.E
3. B 8.1
4. C 9. A
5. G 10. F
6.4 Explain in simple English the various employment terms (part A) and
then try to match the definitions with the clarifications given below (part
B):
1. C
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
2. D
3. A
4. B
6.5 Complete the tables with suitable forms:
Table 1
Noun verb
1. retirement to retire
2.. layoff to lay off
3.. demotion to demote
4. termination 4.to terminate ...
5. dismissal to dismiss
Table 2
Noun adjective
1. freelancer freelance
2. seniority senior
3. insecurity insecure
4. flexibility flexible
5. redundancy redundant
6.6 Match the definitions with the most suitable adjectives describing skills:
1. C
2. G
3. F
4. E
5. D
6. A
7. B
6.7 Imagine you are human resource manager. One of your key responsibilities is
to make sure your staff are well motivated and led. Read the following article, which
contains some practical and useful tips and recommendations made by co-founder
and managing director Julie Anne Murray of PJ Locums Company - a privately
owned recruitment agency placing overseas healthcare personnel in the health and
social care sectors. Put the following tips and recommendations into chronological
order and mark them 1,2,3. Then discuss with your partner how you would motivate
and lead your staff:
129
EMPLOYMENT
Here's how leading and motivating staff has helped my business to grow:
B. 1 Change the mindset
"In the first year my two partners and I were too busy getting the business off the ground
to focus on leadership.
"A discussion with our bank was the wake-up call. They were concerned that while we
were growing, we hadn't planned ahead and therefore risked being unable to cope. We
needed a new mindset, so we began working with a business coach, Mark Grant of Action
International. His input started us down the road towards organisational change."
C. 2 Start with the basics
"We began by restructuring, and having been a co-founder I became managing director.
This encouraged me to delegate and concentrate on leadership issues. With input from
management and employees, I redefined our mission statement and objectives, wrote a
three-year plan and made sure our goals were communicated throughout the company.
"I also introduced new policies, processes and measurement. Everything we do now has
a system behind it, a process to follow and a measurable target. This is important because
it allows other people to take over the day-to-day activities and frees my time to focus on
key strategic and tactical matters."
A. ... Inspire, involve and reward
"We introduced weekly company meetings, staff surveys, team-building events and
away-days to gather ideas and get feedback. Training, appraisals, promotion and career
progression have also been addressed.
"Money isn't everything, but it's important. We introduced bonuses and a new commission
system to encourage staff to meet and exceed performance targets, which they regularly
do.
"We involve people in decision-making and try to create an open and collaborative
working environment. The company culture is based on trust, teamwork, communication
and shared goals. Staff feedback confirms this.
"However you do it, the proof of leadership is in the performance of your company. In
the last 18 months, our growth has accelerated dramatically, with turnover up from
£1.25 million to £3.6 million."
130
Martina Chylkova, Janusz Karpeta - Cizojazycnd pfiprava AJ 4
6.8 Use the correct phrasal verb:
1. The new CEO wants Mike to _
sian unit.
a. head up
b. lead off
c. factor in
2. We always contract that work _
a. up
b. out
c. around
3. Vodafone
the new Rusa
brilliant job benefits strategy
for its staff.
a. brought in
b. drew up
c. turned around
4. This new working time scheme doesn't
to its predecessors.
a. bring
b. work
c. measure
5. Our enterprise
up
aside 3% of our budget for
the remuneration policy.
a. sits
b. places
c. sets
131
EMPLOYMENT
6. The newly appointed human resources manager
the offer made by trade unions because he
was not happy with the excessive conditions it contained.
a. turned down
b. let off
c. brought out
7. The human resources department had to
their budget and remuneration program.
a. come off
on
b. cut back
c. let down
8. The new managing director has a plan to
out the money losing branches in the North-Moravian Region.
a. give
b. make
c. bail
9. We are now in a difficult position. I'm sure our team can
something out.
a. work
b. do
c. lead
10. The research on equal treatment of temporary workers was
by a team of German scientists.
a. placed under
b. carried out
c. led into
132
Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
6.9 Read the following article and mark the statements true or false:
1. T
2. F
3. T
4. T
5. F
6. F
7. T
6.10 Translate the following terms into English:
1. firemní penzijní plán...company pension scheme
2. odměňovat zaměstnance... to remunerate staff/employess
3. piacená dovol ená... paid leave
4. mateřská dovolená... maternity leave
5. nemocenská dovolená... sick leave
6. podat rezignaci... to hand in one's resignation
7. propustit zaměstnance... to lay off staff/employees
8. ukončit pracovní poměr výpovědí... to terminate employment by notice
9. přij mout odstupné... to accept severance pay
10. žádat o vyšší plat... to ask for a better pay
11. obohacení práce.. job enrichment
12. pracovní příležitost.. .job opportunity
13. hledání práce.. Job search
14. základní plat, basic salary
15. průměrná mzda.. average wage
16. kariérní postup.. promotion
17. žádost o místo.. job application
18. pracovní pohovor.. Job interview
19. míra zaměstnanosti... employment rate
20. být odměňován podle výkonu...to be remunerated according to perfor­
mance
6.11 Look up the meaning of the following employment terms in the diction­
ary:
1. bonus...prémie
2. job benefits... zaměstnanecké výhody
3. job switching...fluktuace pracovníků
4. real wage... reálná mzda
5. nominal wage... nominální mzda
6. compensation...odškodnění, náhrada škoda
7. fully paid holidays... plně placená dovolená
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EMPLOYMENT
8. working week... pracovní týden
9. voluntary worker... brigádník
10. self-employment... samostatné zaměstnání
11. unemployment benefits... dávky v nezaměstnanosti
12. life assurance.. životní pojištění
13. to be on trial.. být ve zkušební době
14. workforce... pracovní síla
15. employer...zaměstnavatel
16. employee...zaměstnanec
17. contract between two parties... smlouva mezi dvěma stranami
18. to void a contract.. zrušit smlouvu
19. to sign an employment contract.. podepsat pracovní smlouvu
20. to retire...odejít do důchodu
6.4.1 TEST
1. This contract can be by either party.
a. terminated
b. quit
c. stopped
2. Could you please confirm that ?
a. writing
b. by writing
c. in writing
3. In employment law, if one party does something that goes against the
terms of a contract is known as " " the
terms of a contract.
a. bashing
b. breaching
c. beating
4. As you can see this employment contract
all the terms that we agreed upon during negotiations.
a. includes
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b. produces
c. promotes
5. This contract that your company will be
the sole provider of accommodation services for our events.
a. issues
b. ensures
c. endures
6. My new job offers more growth .
a. potency
b. patents
c. potential
7. Having read your employment contract carefully, I
decline your offer.
a. with respect
b. respectfully
c. in respect
8. My previous boss made some , but it
wasn't enough to prevent me from leaving the company.
a. conncections
b. conceptions
c. concessions
9. In any employment, if you provide your employer with a list of
, you are providing a list of things that
you are/were not happy with at your job.
a. statistics
b. grievances
c. merits
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EMPLOYMENT
10. Most career advisors accepting a counter-offer.
In fact, many feel that accepting such an offer can seriously
hurt your career.
a. present advice not
b. advise against
c. give advice against
V kapitole Employement jsme se srozumitelně naučili popsat a vysvětlit jednotlivé
aspekty z oblasti zaměstnání, vysvětlit a popsat zahraničním partnerům potřebné náležitosti
související se zaměstnáním, číst a sledovat informace o zaměstnání v profesním světě.
2 SHRNUTÍ KAPITOLY
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7 UNEMPLOYMENT
RYCHLÝ NÁHLED KAPITOLY
V této kapitole se budete zabývat problematikou spojenou s nezaměstnaností. Podíváme
se také na různé oblasti spojené s danou tématikou, např. příčiny nezaměstnanosti, dávky
v nezaměstnanosti a také inflace. Budou vysvětleny základní pojmy z oblasti nezaměstnanosti
a další termíny.
CÍLE KAPITOLY
V této kapitole se naučím:
• vyjadřovat se k problémům spojeným s nezaměstnaností,
• orientovat se v oblasti nezaměstnanosti v anglickém jazyce,
• základní slovní zásobě související s tématem,
• terminologii spojené s tímto tématem,
• porozumět odbornému textu v této oblasti.
KLÍČOVÁ SLOVA KAPITOLY
Job, unemployment, unemployment benefits, unemployment and inflation, unemployment
rate.
7.1 Vocabulary
administer spravovat
award poskytnout
claimant žadatel
compensation payment výplata odstupného
cyclical unemployment cyklická nezaměstnanost
demand-pull tlak poptávky
deny odmítnout
direct economic impact přímý ekonomický dopad
downturn pokles
eligibility způsobilost
employment office pracovní úřad
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UNEMPLOYMENT
estimate odhad
file podat (žádost apod.)
flat rate paušální sazba
frictional unemployment frikční nezaměstnanost
idleness nečinnost
imbalance nerovnováha
jobless bez práce
layoff propouštění
obstruct bránit
out of work bez práce
retraining rekvalifikace
seasonal unemployment sezónní nezaměstnanost
seek a job hledat zaměstnání
social consequence společenský následek
structural unemployment strukturální nezaměstnanost
unemployment benefit podpora v nezaměstnanosti
unemployment rate míra nezaměstnanosti
wage agreement mzdová dohoda
workers' compensation soc. nebo nemocenské dávky
workers' welfare péče o zákazníky
7.2 Unemployment
Unemployment is simply the lack of paid employment, enforced idleness of people without
a job, though they are not only able and willing to work, but actively seek work. Unemployment,
without any doubts, has serious social consequences. Probably the most psychologically
depressing events are massive layoffs when even skilled workers and loyal
employees are fired through no fault of their own. Naturally, the direct economic impact
on the suddenly jobless people and their families is also extremely hard.
Let us now study the four basic types of unemployment.
1. Frictional unemployment - this term denotes temporary unemployment of people who
are out of work briefly while they are waiting to start a new job. Some frictional unemployment
is inevitable.
2. Seasonal unemployment - is due to changes in areas where the demand for jobs rises
or falls in step with periods of high or low economic activity. It typically occurs when
industries have a low season.
3. Cyclical unemployment - is the downturn in employment caused a corresponding
fluctuation in the business cycle. In other words, this type of unemployment results from a
general lack of demand for labour.
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4. Structural unemployment - stems from the difference between the existing qualification
of workers and new job requirements. The imbalances may be caused by inadequacy
in skills, location or personal characteristics.
OTÁZKY
1 Explain the reasons for unemployment?
2 Explain the basics of frictional unemployment?
3 Explain the basics of seasonal unemployment?
4 Explain the basics of cyclical unemployment?
5 Explain the basics of structural unemployment?
7.3 Unemployment rate
The ratio of the number of people classified as unemployed to the total labour force is
known as the unemployment rate. The proportion of unemployed workers also shows how
well a nation's human resources are used and serves as an index of economic activity. The
extent of unemployment is also widely known used as a measure of worker's welfare. There
are basically two chief methods of measuring unemployment.
1. By a monthly survey of a sample of households representing the entire civilian popu­
lation.
2. Unemployment estimates are developed from data on the number of people who are
looking for work through the public unemployment offices or the number receiving unemployment
compensation payments.
OTÁZKY
1 What is an unemployment rate?
2 How is the unemployment rate measured?
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UNEMPLOYMENT
7.4 Unemployment benefits
Unemployment benefits or in the U K jobseekers allowance are payments intended to
provide temporary financial assistance to unemployed workers who meet the legal eligibility
requirements, and assist them in their efforts to find a new job. Generally, these payments
can be made in accordance with:
A wage agreement or employment contract;
An insurance policy;
A public assistance programme.
Most developed nations have some form of compulsory unemployment benefit or insurance,
but its financing, the kind and duration of the benefits awarded, and conditions
attached vary from country to country. In the USA, for example, federal law only establishes
guidelines for an unemployment insurance programme (UI), but each state
administers its own variation.
Nevertheless, we can at least examine the relevant Czech Act No. 435/2004 Coll. A
claimant's right to unemployment benefits starts after 7 days from the date when they filed
their claim and was duly registered, if the Employment Office failed to find for them a
suitable job or secure a retraining opportunity. At the same time, (s)he has to prove that
(s)he was employed for at least 12 months during the past three years prior to filing the
claim. The benefit is denied if (s)he refuses to report for the new job, or the retraining for
such job, without serious personal or family reasons or if the claimant obstructs cooperation
with the Employment Office or if (s)he left work without any serious reasons during the
last 6 months.
The maximum period for jobseekers over 55 years of age is 12 months. In developed
countries are, benefits are related to previous earnings or they are set at a flat rate. In most
countries, workers in any field are eligible for benefits. Industrialized countries have also
schemes covering workers' injuries and disabilities directly relating to their employment.
Payments of this kind are usually called workers' compensation.
OTÁZKY
1 What payments are unemployment benefits?
2 How do they call unemployment benefits in the UK?
3 What Act regulates the unemployment benefits in the Czech Republic?
4 Who has the right to be given unemployment benefits?
5 Who is denied unemployment benefits?
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6 What is the maximum period during which unemployment benefits are paid?
7 Explain what workers' compensation means?
7.5 Unemployment and inflation
Inflation is an increase in the general price level which occurs in every economy to a
greater or lesser extent and is caused by internal or external factors. Inflation generally
reduces the real value of money and its purchasing power. Inflation harms depositors,
savers and recipients of fixed incomes.
Typical symptoms of demand-pull inflation in a period of economic prosperity are the
rising demand for products, services and labour. This is reflected in increased prices for
products, higher wages and appreciation of currency.
The cost-push type of inflation starts with higher producer prices, sometimes also due
to more expensive imports.
Built-in inflation results from the anticipation of further increases, the impacts of which
labour especially tries to alleviate through immediate pay rises.
Monetary inflation arises from increased money supply.
The extent of inflation is expressed by the inflation rate. This is a percentage increase of
the price level, usually computed on an annual basis. The most usual mathematical method
is a price index. Consumer Price Index (CPI) measures price changes at a retail level. Central
banks use the Core Price Index, which excludes food and oil due to their extremely
volatile prices.
OTÁZKY
1 Explain what inflation means and what consequences it has in the economy.
2 Explain what demand-pull inflation is.
3 Explain what cost-push inflation means.
4 What does built-inflation stand for?
5 What does monetary inflation mean?
6 What is the inflation rate?
7 Explain what a Consumer Price Index means.
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UNEMPLOYMENT
8 Explain what a Core Price Index means.
LEXIS
7.1 Find the opposites:
1. direct impact...
2. jobless ...
3. layoff...
4. downturn ...
5. unemployment ...
6. seek a job ...
7.2 Translate the following terms into Czech:
1. temporary unemployed people ...
2. the lack of paid employment...
3. skilled workers ...
4. ratio of the number of people classified as unemployed ...
5. extent of unemployment ...
6. receive compensation payments ...
7. measure unemployment...
8. unemployment benefit...
9. wage agreement...
10. insurance policy ...
11. compulsory benefit...
12. suitable job ...
13. lay claim to...
14. retraining opportunity ...
15. injuries and disabilities ...
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
16. increase in the general price level ...
17. real value of money ...
18. purchasing power ...
19. appreciation of currency ...
20. pay rise ..."
7.3 Read and complete the missing information:
a) no confidence of b) leave c) almost half said d) the survey is from e) socially isolated
f) one in eight g) day-to-day life h) the right jobs i) their full potential j) to get a job k)
control emotions 1) a third
Jobless young people 'fall apart'
A new survey in Britain says 1 , unemployed people regularly
"fall apart". They are so stressed that they cannot 2 . They have
problems living a "normal" life. 3 youth charity. Its researchers
questioned 2,200 jobless people. 4 they were often stressed about
everyday life. They tried not to meet new people. 5 said they were
too stressed to leave the house. The charity said: "Thousands of young people feel like
prisoners in their own homes.. .these young people become 6 ."
Many young people struggle with 7 . They find it more difficult 8
. Britain's Employment Minister said: "Our young people are some
of the best and most talented in the world." She said it was important to try and find 9
. Researcher David Fass added: "Young people are our future and
it is important that we invest in them.. .to reach 10 ." Jack, 25, explained
how hard it was for him to be unemployed. He said: "I would wake up and wouldn't
11 house. I stopped speaking to my friends and I had absolutely 12
Zdroj: Belfast Telegraph: Jobless young people fall apart, [online], [cit. 2018-18-11]. Dostupne z:
https://www.belfasttelearaph.co.uk/news/uk/iobless-vounq-people-fall-apart-30906462.htm
143
UNEMPLOYMENT
OTÁZKY
7.6 Test
1. Unemployment = money that is paid by the govern
ment to people who do not have a job.
a. benefit
b. money
c. bonus
2. Did you quit or were you ?
a. hired
b. fired
c. abondoned
3. My friend tried to commit unemployment , but he was
caught.
a. benefit
b. money
c. bonus
4. I
week.
for unemployment benefits last
a. filed
b. tried
c. drew
5. My benefits are automatically
week.
into my account every
a) deposited
b) given
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
c) taken
6. People who receive benefits have to fill out a weekly .
a) request
b) requirement
c) claim
7.1 didn't receive my check this week. It must have gotten .
a) lost in the mail
b) lost in mail
c) lost in the email
8. An occurs when you receive (or pay) more money than you
are legally entitled to.
a) underpayment
b) overpayment
c) downpayment
9. You have to report all your on your weekly claim.
a) wage
b) wages
c) salaries
10. In legal terms, the "person making a claim" is the .
a) claimant
b) claimer
c) claimee
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UNEMPLOYMENT
0 ODPOVĚDI
7.7 Key
LEXIS
7.1 Find the opposites:
1. direct impact... indirect impact
2 jobless employed
3. layoff... employment
4. downturn ... upsurge
5. unemployment... employment
6. seek a job ... lose a job
7.2 Translate the following terms into Czech:
1. temporary unemployed people ... dočasně nezaměstnaní lidé
2. the lack of paid employment... nedostatek placeného zaměstnání
3. skilled workers ... kvalifikovaní pracovníci
4. ratio of the number of people classified as unemployed ... poměr počtu osob označených
jako nezaměstnaní
5. extent of unemployment... rozsah nezaměstnanosti
6. receive compensation payments ...obdržet kompenzační platby
7. measure unemployment ... měřit nezaměstnanost
8. unemployment benefit... dávky v nezaměstnání
9. wage agreement... mzdová dohoda
10. insurance policy ... pojistka
11. compulsory benefit... povinná dávka
12. suitable job ... vhodná práce
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
13. lay claim to ... uplatnit nárok
14. retraining opportunity ... možnost rekvalifikace
15. injuries and disabilities ... zranění a postižení
16. increase in the general price level ... zvýšení celkové cenové hladiny
17. real value of money ... skutečná hodnota peněz
18. purchasing power ... kupní síla
19. appreciation of currency ... zhodnocení měny
20. pay rise ... zvýšení platu
7.3 Read and complete the missing information:
Jobless young people 'fall apart'
A new survey in Britain says 1 1) a third, unemployed people regularly "fall apart".
They are so stressed that they cannot 2 k) control emotions. They have problems living a
"normal" life. 3 d) the survey is from youth charity. Its researchers questioned 2,200
jobless people. 4 c) almost half said they were often stressed about everyday life. They
tried not to meet new people. 5 f) one in eight said they were too stressed to leave the
house. The charity said: "Thousands of young people feel like prisoners in their own homes.
. .these young people become 6 e) socially isolated." Many young people struggle with
7 g) day-to-day life. They find it more difficult 8 j) to a get a job. Britain's Employment
Minister said: "Our young people are some of the best and most talented in the world." She
said it was important to try and find 9 h) the right jobs. Researcher David Fass added:
"Young people are our future and it is important that we invest in them...to reach 10 i)
their full potential." Jack, 25, explained how hard it was for him to be unemployed. He
said: "I would wake up and wouldn't lib) leave house. I stopped speaking to my friends
and I had absolutely 12 a) no confidence."
Zdroj: Belfast Telegraph: Jobless young people fall apart, [online], [cit. 2018-18-11]. Dostupné z:
https://www.belfasttelearaph.co.uk/news/uMobless-vounq-people-fall-apart-30906462.htm
7.7.1 TEST
1. Unemployment = money that is paid by the government
to people who do not have a job.
a. benefit
b. money
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UNEMPLOYMENT
c. bonus
2. Did you quit or were you
a) hired
b. fired
c. abondoned
3. My friend tried to commit unemployment
caught.
a. benefit
b. money
c. bonus
4. I for unemployment benefits last
week.
a. filed
b. tried
c. drew
5. My benefits are automatically into my account every
week.
a) deposited
b) given
c) taken
6. People who receive benefits have to fill out a weekly .
a) request
b) requirement
c) claim
7.1 didn't receive my check this week. It must have gotten .
, but he was
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
a) lost in the mail
b) lost in mail
c) lost in the email
8. An occurs when you receive (or pay) more money than you
are legally entitled to.
a) underpayment
b) overpayment
c) downpayment
9. You have to report all your on your weekly claim.
a) wage
b) wages
c) salaries
10. In legal terms, the "person making a claim" is the .
a) claimant
b) claimer
c) claimee
SHRNUTÍ KAPITOL Y
V kapitole Unemployement jsme se srozumitelně naučili popsat a vysvětlit jednotlivé
aspekty z oblasti nezaměstnanosti, míry nezaměstnanosti, dávek a inflace, dále vysvětlit a
popsat potřebné náležitosti související s nezaměstnaností, číst a sledovat informace o
nezaměstnanosti v profesním světě.
149
Dictionary
DICTIONARY
Unit 1
asset aktivum
authority úřad
balance of trade and payments obchodní a platební bilance
branch odvětví
business cycle hospodářský cyklus
commodity zboží
competition konkurence
conditions podmínky
consumer spotřebitel
consumption spotřeba
distribution rozdělování
economic growth ekonomický růst
economic ekonomický
economical hospodárný
enterprise podnik
entity jednotka
equilibrium rovnováha
exchange rate směnný kurz
expenditure výdaj
firm firma
fiscal policy fiskální politika
government spending vládní výdaj e
household domácnost
income příjem, důchod
inflation inflace
interest rate úroková sazba
issues otázky
labour market regulations dohled nad pracovním trhem
liability pasivum
loss ztráta
means prostředky
monetary policy peněžní politika
money supply peněžní zásoba
needs potřeby
non-profit organization nezisková organizace
output výroba, produkce
owner vlastník
ownership vlastnictví
performance výkon
principle princip, zásada
production výroba
profit zisk
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
progress pokrok
property majetek
resource zdroj
revenue výnos, tržba
Unit 2
appoint jmenovat
barter výměnný obchod
circulation oběh
Coll. sbírka zákonů
commercial bank obchodní banka
commodity komodita, produkt
conduct provádět, vést
currency měna
diligence píle
to entrust věřit, pověřit
fiat money neplnohodnotné peníze, cenným kovem
nepodložené peníze
headquarters ředitelství
in accord with v souladu s
in compliance with v souladu s
instrument nástroj
interest úrok
interest rate úroková sazba
issue vydávat
legal entity právnická osoba
liquidity likvidita
to maintain vést, spravovat
medium of exchange prostředek směny
monetary policy peněžní politika
objective cíl
omnipresent všudypřítomný
permissible dovolený, přípustný
prerequisite předpoklad
public sector veřejný sektor
regional branch regionální pobočka
set stanovit, určit
stipulate stanovit
supervision kontrola
supply of money nabídka peněz
sustainable udržitelný
value hodnota
Unit 3
asset aktivum
banknote bankovka
barter naturální měna
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Dictionary
cash hotovost
circulation oběh
claim pohledávka
common equivalent všeobecný ekvivalent
convertible převoditelný, směnitelný
counterfeiting padělání
currency měna
direct debit bezhotovostní placení
division of labour dělba práce
evaluation hodnocení
foreign currency valuta, cizí měna
foreign exchange deviza, devizy
good statek
interested party zájemce
issue vydávání
legal tender zákonné platidlo
liquidity likvidita
medium prostředek
medium of exchange prostředek směny
measurement měření
monetary unit peněžní jednotka
money supply peněžní zásoba
payment platba
rate of exchange směnný kurz
receivable vlastní pohledávka
remittance úhrada
reimbursement úhrada
store sklad, uchování
susceptible náchylný
thread vlákno
transfer převod
unit jednotka
unit of account zúčtovací jednotka
watermark vodotisk
Unit 4
aggregate demand celková poptávka
aggregate supply celková nabídka
allocative efficiency alokační efektivnost
buyer kupující
commodity zboží, komodita
demand poptávka
direct costs přímé náklady
disproportion nepoměr
element of market economy prvek tržní ekonomie
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
evaluation hodnocení, ocenění
evaluation hodnocení, ocenění
exchange směna
firm firma, podnik
fixed costs fixní náklady
goods zboží
household domácnost
impending hrozící
indirect costs nepřímé náklady
individual demand individuální poptávka
individual supply individuální nabídka
market trh
market agent tržní subjekt
market forces tržní síly
market mechanism tržní mechanismus
market supply nabídka trhu
overhead cost režijní náklady
partial demand dílčí poptávka
price cena
prove one's merits prokázat zásluhy
purchase nákup
regulator regulátor
seller prodávající
serve sloužit
services služby
social structure sociální struktura
state stát
supply nabídka
to the detriment of na úkor
transact obchodovat
variable costs variabilní náklady
Unit 5
acceptance přijetí
adapt přizpůsobit se
advertising, advertisement reklama
assortment sortiment
assortment diversification prohloubení sortimentu
assortment policy sortimentní politika
authorized dealer výhradní prodejce
carry out provést
competition konkurence
conditions of the market tržní vztah, poměr
consumer buying habit nákupní zvyklost
customer, purchaser odběratel
data usage použití dat
delivery term, delivery condition dodací podmínka
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Dictionary
derive odvodit
desk research výzkum od stolu
discount rabat
distribution policy distribuční politika
eliminate vyřadit
evaluation vyhodnocení
excess demand převis poptávky
excess supply převis nabídky
fieldwork polní výzkum
guarantee záruka
involve zahrnout
level of awareness stupeň známosti
mark, marking označení
market analysis analýza trhu
market information informace o trhu
market monitoring pozorování trhu
market position pozice na trhu
market research průzkum trhu
market share podíl na trhu
marketing policy politika odbytu
marketing channels odbytové cesty
measure opatření
niche mezera na trhu
overcharged předražený
payment term platební podmínka
pre-assess odhadnout dopředu
primary research primární výzkum
product category skupina výrobků
product diversity rozmanitost výrobku
product innovation inovace výrobku
product policy produkční politika
product program produkční program
product variation variace výrobků
provide obstarat
public relations práce s veřejností
purchaser, consumer odběratel
purchasing motive nákupní motiv
offer nabízet
questioning vyptávání
reduce snižovat
reasonable, affordable výhodný z hlediska nákladů
repair shop, service department servis
retailer maloobchodník
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
retailing operation maloobchod
retrieval of information získávání informací
risk spreading rozptyl rizika
sale, selling prodej
sales promotion podpora prodeje
sales representative obchodní zástupce
sales statistics statistika obratu
scope of the program rozsah programu
secondary research sekundární výzkum
service služby
survey průzkum
targeted cílený, cíleně
traveling salesman obchodní cestující
trade, commerce obchod
utilization využití
ultimate consumer konečný spotřebitel
wholesale operation velkoobchod
wholesaler velkoobchodník
Unito
add up sečíst
agree to souhlasit
average průměrný, průměr
bonus prémie
by notice výpovědí
calculate vypočítat, spočítat
circumstance okolnost
collective agreement kolektivní smlouva
collective bargaining kolektivní vyjednávání
company canteen závodní jídelna
day off den pracovního volna
deduction odečtení, sražení
duty povinnost
employment zaměstnání
entitlement oprávnění, nárok
exemption výjimka
fixed time pevná pracovní doba
fixed time doba určitá
flexi time pružná pracovní doba
full time employee zaměstnanec na plný úvazek
guideline směrnice
human resources department personální oddělení
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Dictionary
incentive rate pobídková sazba
indeterminate time doba neurčitá
.job práce
job benefit zaměstnanecké výhody
nominal wage nominální mzda
notice oznámení
occupation povolání
opt-out vycouvání
paid leave placená dovolená
part time employee zaměstnanec na částečný úvazek
pension scheme důchodové zabezpečení
performance výkon
piece rate kusová sazba
profession profese
real wage reálná mzda
regulation předpis, směrnice
remuneration odměna
rest break pauza na odpočinek
salary plat
time rate časová sazba
Unit 7
administer spravovat
award poskytnout
claimant žadatel
compensation payment výplata odstupného
cyclical unemployment cyklická nezaměstnanost
demand-pull tlak poptávky
deny odmítnout
direct economic impact přímý ekonomický dopad
downturn pokles
eligibility způsobilost
employment office pracovní úřad
estimate odhad
file podat (žádost apod.)
flat rate paušální sazba
frictional unemployment frikční nezaměstnanost
idleness nečinnost
imbalance nerovnováha
jobless bez práce
layoff propouštění
obstruct bránit
out of work bez práce
retraining rekvalifikace
seasonal unemployment sezónní nezaměstnanost
seek a job hledat zaměstnání
social consequence společenský následek
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
structural unemployment strukturální nezaměstnanost
unemployment benefit podpora v nezaměstnanosti
unemployment rate míra nezaměstnanosti
wage agreement mzdová dohoda
workers' compensation soc. nebo nemocenské dávky
workers' welfare péče o zákazníky
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LITERATURA
[1] ALLISON, J. and P. EMMERSON, 2013. The Business Intermediate, Student's
book. London: Macmillan. ISBN 978-0-230-43788-3.
[2] ASPINALL, T. and G. BETHEL, 2007. Test your business vocabulary in use. Cambridge:
CUP. ISBN 987-0-521-53254-9.
[3] DYNDA, A. a E. DYNDOVÁ, 2004. Česko-anglický obchodní poradce. Praha:
Pragoeduca. ISBN 80-7310-017-7.
[4] CHYLKOVÁ, M., 2015. English Grammar Workbook (Professional English 1-3).
Karviná: SU OPF. ISBN 978-80-7510-171-6.
[5] KARPETA, J., 2013. English for Economic Purposes. Karviná: SU OPF. ISBN
978-80-7248-831-5.
[6] MURPHY, R., 2006. English Grammar in Use. 3rd Edition. Cambridge: CUP.
ISBN 0521537622.
[7] TURNBULL, J., 2015. Oxford Advanced Learner's Dictionary. 9th Edition. Oxford:
OUP. ISBN 978-0-19-479879-2.
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Martina Chylková, Janusz Karpeta - Cizojazyčná příprava AJ 4
SHRNUTÍ STUDIJNÍ OPORY
Touto kapitolou končí opora Cizojazyčná příprava A J 4, která vás jazykově připravila
pro odbornou komunikaci v oblastech: Economics, Banks, Money, Market, Marketing,
Employment, Unemployment. Pro tyto účely byla navržena nejrůznější cvičení a testy,
včetně závěrečného testu, který shrnuje to nej podstatnější z dané kapitoly. Výstupem studia
v opoře Cizojazyčná příprava A J 4 bylo získání fundovaných jazykových dovedností nezbytných
pro vedení odborné diskuse v angličtině pro ekonomy a také prohloubení si odborné
znalosti z oblasti ekonomie, bank, trhu, marketingu, zaměstnanosti a nezaměstnanosti.
Uvedenou slovní zásobuje možné použít v jakémkoli firemním či obchodním prostředí.
Dále je možné v rámci prohlubování jazykových znalostí využít řadu lexikálních a
gramatických cvičení, kterájsou opatřena klíčem. A v neposlední řadě jsou v textu uvedeny
webové odkazy, které slouží k dalšímu jazykovému vzdělávání. V rámci všech kapitol jste
si zdokonalili klíčové dovednosti v oblasti práce s odborným textem, práce s odborným
textem z hlediska slovní zásoby a gramatiky. Všem studentům přejeme hodně úspěchů a
chuti se dále jazykově rozvíjet.
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PŘEHLED DOSTUPNÝCH IKON
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Čas potřebný ke studiu
Klíčová slova
Průvodce studiem
<S> I Rychlý náhled
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Tutoriály
K zapamatování
Řešená úloha
Kontrolní otázka
Odpovědi
Samostatný úkol
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- J H Cíle kapitoly
(fr Nezapomeňte na odpočinek
<^f-1 Průvodce textem
2 I Shrnutí
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zájemce •
Definice
Případová studie
Věta
Korespondenční úkol
Otázky
Další zdroje
Úkol k zamyšlení
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Název: Cizojazyčná příprava AJ 4
Autor: Mgr. Martina Chylková, PhDr. Janusz Karpeta
Vydavatel: Slezská univerzita v Opavě
Obchodně podnikatelská fakulta v Karviné
Určeno: studentům SU OPF Karviná
Počet stran: 160
Tato publikace neprošla jazykovou úpravou.