Download 1/ Answer the following questions

free enterprise economy
free enterprise economy, also called The capitalist economic system is a politicoeconomic mode of production in which all decision on the management of the community
are made by individuals this type of economy is based on the following criteria.
- Private property, i,e, private ownership and control of the means of production.
- Private profit, i,e, creation of economic activities by individuals in order to make more
profit.
- Creation of market structure which regulates these economic activities.
- Laissez-faire principles which lead to competition between the different supplies of
goods and services.
In this mode of production, the state does not intervene in other economic sphere. Its
role is supportive rather than interventionist. In other words, the state seeks to provide the
conditions which are necessary for the economic framework to prosper.
In the later forms of capitalism, the role of the state has become more influential and
significant, in the sense that it attempts to control the economy. The aim of such
interventions is to create stability and to protect local capital.
Questions :
 Part one :
1/ Answer the following questions :
1- What is the capitalist economic system?
…………………………………………………………………………………………….. .
2- What are the main characteristics of this type economy?
…………………………………………………………………………………………….. .
3- What is the role of the state in the earlier form of capitalism?
…………………………………………………………………………………………….. .
4- What is the role of the state in the later form of capitalism?
……………………………………………………………………………………………..
5- Why does the state control the economy?
……………………………………………………………………………………………..
1
2/ say whether the following statements are true or false. Put (T) for true statements
and (F) for false statements.
1- The capitalist economic system is based on liberal principle.
2- The owners of capital always seek to provide the necessary condition for them to
make more profit.
3- In the capitalist economic system, the workers control the means of production.
4- In the capitalist economic system, the workers control the political and economic
framework.
5- The role of the state in " pure" capitalism into intervene in the economic sphere.
 Part two :
Find in the text words that are closest in meaning of the following words.
 Ownership
=
………………………….. .
 Company
=
………………………….. .
 Criteria
=
………………………….. .
Find in the text words that are opposite in meaning of the following words.
 General
≠
…………………………... .
 Group
≠
………………………….. .
 early
≠
………………………….. .
Give the meaning of the following words in Arabic.
 Production
………………………….. .
 Ownership
………………………….. .
 Property
………………………….. .
 Means
………………………….. .
2
University Mohammed Boudiaf -M’sila
The second year of bachelor degree
Department of commerce L.M.D.
The diffinition of some business terms
Elasticity of supply and demand
Elasticity of supply : responsiveness of output to change in price ; computed as
the percentage change in the quantity supplied divided by the percentage change
in the price. Supply is said to be elastic( inelastic) if the elasticity exceeds ( is
less than 1) . the more elastic supply is, the more will change in price increase
production.
Elasticity of demand : responsiveness of buyers to changes in price, defined as
the percentage change in quantity demanded divided by the percentage change
in price. Demand for luxury items may slow dramatically if prices are raised,
because these purchases are not essential and can be postponed.
Employment agency: public or private organization providing employment
services for those seeking employment as well as for potential employers
seeking employees. Public agencies provide a wide range of services, most of
which are supported by employer contributions to state unemployment funds.
Private agencies play a major role in recruiting professional and managerial
candidates.
Enterprise business firm: the term often is applied to a newly formed venture.
Entrepreneur: individual who initiates business activity. The term is often
associated with one who takes business risks.
Estimate :
1- To aproximate
2- In statistics, single value ( point) or interval ( range) of an unknown
population parameter based on a sample of the population .
European central bank (ECB): bank founded to oversee monetary policy for
the 11 countries that converted their local currencies into EUOR on January
1,1999. The bank’s primary mission is to maintain price stability and issue euro
currency.
Industrial products include heavy machinery, raw materials, typewriters, tools,
and cash registers.
Leadership : upper level of management that provides vision and direction
for the company.
Liquidity : ability for individual or company to convert assets into cash or
cash equivalents without significant loss.
Macroeconomics: study of the aggregate forces of a nation’s economy as a
whole. Using such data as price levels, unemployment, inflation, and
industrial production.
Management :
1. Combined fields of policy and administration and the people who provide
the decisions and supervision necessary to implement the owners’ business
objectives and achieve stability and growth . the formulation of policy
requires analysis of all factors having an effect on short –and the long term
profit.
2. Key people in an organization . those who make the most important
decisions are called top management.
Management science : study of management, school of management
emphasizing the use of mathematics statistics as an aid in resolving production
and operations problems. A major objective is to provide management with a
quantitative basis for decisions.
Manager : person charged with the responsibility of administrating and
directing an organization’ s activities.
Market : public place where products or services are bought and sold , directly
or through intermediaries ; also called marketplace.
University Mohammed Boudiaf -M’sila
The second year of bachelor degree
Department of commerce L.M.D.
The aim of any economic activity is to produce goods and to provide services. Production is
therefore the transformation of the input into the output, by means of different productive
processes.
To produce any article or to provide any service depends upon some factors or agents of
production, also called factor resources. There are two broad types factors of production,
human factors and non-human factors. The human factors consist of labour and enterprise,
and the non-human factors refer to land and capital.
As far as production is concerned, we distinguish two kinds: direct production and indirect
production. The former implies that the worker produces for his own needs, whereas the latter
refers to a chain of productive processes. This chain can be divided into three major processes:
Primary process deals with the extraction of raw materials, eg. mining.
Secondary process, in this process, the raw materials are transformed into manufactured
goods, eg. car manufacturing.
Tertiary process in which the finished article is made available and displayed to the consumer.
Questions:
1) give a title to the text:…………………………………………..
2) Give the synonym of the following words:
* aim =
* articles=
* therefore =
3) Give the opposite to the following words:
* latter ≠
* output ≠
* major ≠
4) answer the following questions from the text. Use your own words as possible.
1- what is the main aim of any economic activity?.....
…………..
2-what are the major processes of production?
3- what is meant by direct production?
4- what is meant by indirect production?
5- what are the factors of production?
5) are these statements true or false?
* the production of goods and the provision of services are economic activities …………………………….
*goods and services require a combination of labour, capital, land and enterprise………………………….
*land denotes the natural resource of universe such as sun, animals, rivers, and so forth…………………
* direct production requires a chain of productive processs…………………….
*the transformation of input into output isn't a productive process……………………………….
6)Put true or false to validate the type of the following sentences.
-
Fatiha explains the situation (passive voice)……………………..
-
Their work will have been finished (passive voice)…………………….
-
He masters many languages (passive voice)…………………….
7) put the verb in brackets in the right form.
a- the financial crisis (to end) in 2010. ………………
b- I (to see) this student today …………………….
c- every thing (to be) all right so far……………..
What makes a great manager?
The first problem when you start to manage is that you don’t actually think about
management issues because you don’t recognize them. Management is about pausing to ask
yourself the right questions so that your common sense can provide the answers
When you gain managerial responsibility, your first option is to do what is expected of you.
You are new at the job, so people will understand. You learn slowly by your mistakes and probably
you try to devote as much time as possible to the rest of your work. When you became a manager,
you gain control over your own work, not all of it. You can change things, you can do things
differently. You actually have the authority to make a huge impact upon the way in which your
staffs work. You can shape your own work environment.
In a large company, your opinions may be limited by the existing corporate culture – and
here you have to face directly into the main thrust of corporate policy, and make changes sideways.
You don’t want to fight the system, but rather to work better within it. In small companies, your
options are wider ( since custom is often less rigid ) and the impact that your team has upon the
company’s success is proportionately much greater. Thus once you start working well, this will be
quickly recognized and nothing gains faster approval than success.
PART1 : Reading Comprehension :
a- Read the text carefully then answer the questions below.
1- What is the first problem the manager faces?
2- What do you have to do the first when you became a manager?
3- What jobs you can do?
4- Where do a manager have wider options ?
b- Antonyms and synonyms.
1- Find in the text words that are opposit in meaning to the following.
-
Fast ≠ ………………… diapproval ≠ ………………… to loose ≠ …………………
1
2- Find in the text words that are closest in meaning to the following.
-
To fix = …………….. choice = …………………… . company = …………………..
PART 2 : Mastery of language :
1) Change the following from active to passive.
1- The policeman arrested the thief.
2- We often teach foreign languages through questions and answers.
3- The earthquake destroyed the whole city.
4- You can not buy friendship with money ; you only buy it by friendship.
5- The large number of cars delayed me.
6- The storm damaged the trees.
2) Choose the right answer :
1- In the future most of our work……………………….. by machines.
a- Will be doing
b- has been done c- will do d- will be done.
2- Renewable and natural gas are all …………………… fuels.
a- Renewable b- fossil c- nuclear d- energy.
3- The new company is looking for ……………………….. workers.
a- Illiterate
b- lazy
c- careless
d- skilled.
4- Self- employed people enjoy ……………… the freedom to work when they like.
a- To have
b- to be having
c- having
2
d- have.
University Mohammed Boudiaf -M’sila
The second year of bachelor degree
Department of commerce L.M.D.
Before, leaders were distant and remote, not easy to get to know or communicate
with. Today, managers are more open and approachable you can talk to them easily,
there is more management by consensus, where decisions are not imposed from above
in a top-down approach, but arrived at by asking employees to contribute in process of
consultation.
To empower employees, managers need the ability to delegate, to give other people
responsibility for work rather than doing it all themselves. Naturally, with
empowerment and delegation, the problem is keeping control of your operations: a
key issue of modern management.
.
Questions:
1) Give a title to the text:…………………………………………..
1) give the synonym of the following words:
*distant =
*contribute =
* isue =
2) give the opposite to the following words:
*easy ≠
*to know ≠
*to give ≠
3) From the text, are the following statements true or false
- with management by consensus decisions are imposed from above in a top-down
approach …………. …
- To empower employees, managers need the ability to give orders at other people for
doing works………………….
- empowerment and delegation serve modern management …………
4) Attach the concept with its definition using an arrow(→).
Concepts
definitions
leadership
When our spending equals the sum we receive from sales .
inflation
Is raising prices.
break even
The skill of managing people.
management
The study how to run a business and lead people
5) Complete the table with suitable words.
verb
noun
adjective
To finance
leadership
/
/
accurate
consumption
to Inflate
/
/
6) Exercise.
This table gives to you informations about import and export goods of country X .
(numbers in 107€)
Import .G 80
82
115
Export .G
230 117
65
years
2009 2015 2013
1)What is the result of the balance of trade for the country X in 2009
…….
2) draw the graph which shows the evolution of the balance of trade for this country.
University Mohammed Boudiaf -M’sila
The second year of bachelor degree
Department of commerce L.M.D.
The internet
To access the internet, you need an account with an ISP( internet Service Provider).
High-speed internet connections are called broadband or ADSL (Asymmetric Digital
Subscriber Line). These allow very fast downloads of document, music and even fulllength TV programmes and film.
Some ISPs have their own content: news, information and so on, but many do not- they
just provide a portal to the internet. You log on by entering you password, and you can
then surf to any site on the worldwide web.
If you’re looking for information about a particular subject, you can use a search
engine like Google.
Selling goods over the internet is e-commerce or e-business. With online shopping,
customers can click on items and add them to their shopping cart before going to the
checkout and paying for them with a credit card. Business-to-consumer, or B2C, is
selling to the members of the public on the internet. Business-to-consumer, or B2C, is
selling to the members of the public on the internet. Business- to- business, or B2B is
the sale of goods, supplies etc between businesses, using the internet.
Mobility is becoming increasingly important. If your laptop has a wireless connection,
you can connect to the internet and surf the web. You can also use a small computer
called a PDA (Personal Digital Assistant) or a smartphone (= a type of mobile phone) to
do this.
Question

Complete each of the following statements.
1. If you want to obtain up-to-date information about any possible subject, you need
__________ to the internet.
A accede
B access
C accession
D acceleration
2. To be able to find the information you want, your computer needs to have a good
_______ .
A search machine B search tool
C search engine D search device
3. Buying things on the internet is ____________.
A e-shopping
B e-business
C e-buying
D e-commerce
4. Shopping on some website is like going round a supermarket with a cart and then going
to the
A checkout
B check-in
C check mark
D check-up
5. People who use the internet are becoming more and more _________-they want to be
able use it wherever they are.
A emotional
B moving C mobile D motivated
Text :
Direct mail is the most common form of direct marketing ; it is a kind of advertising
that conveys its message straight to the consumer or another business rather than using an
intervening medium such as TV or print advertising. To the average consumer, the term may
be considered synonymous with junk mail, but for advertising it is an inexpensive and, when
properly targeted, effective means in order to getting message to consumers. direct mail
includes any marketing material that can be mailed in order to encourage the recipient to buy
a product, accept an offer or support an organization : postcards, letters , brochures,
catalogues, newsletters or statement stuffers. It may include product samples, coupons or
special offer not available through other means.
questions:
Part one : Reading comprehension :
1- Select the best idea that suit the text.
a- What is direct mail ?
b- the importance of direct mail
c- the direct mail techniques.
2- Answer the following questions according to the text.
a- Why is direct mail the most famous type of marketing ?
b- Extract from the text two adjectives that best describe direct mail.
c- What does direct mail include?
3- Find in the text the synonyms and antonyms
a- Synonyms : find in the text synonyms to these words.
Buyer = ……………. Sent = …………………
b- Antonyms : find in the text opposites to these words.
Indirect = ………….. discourage = …………………
Part two : Grammar
1- divide these words into ( prefix / root /suffix )
Indirect / intervening / inexpensive / reconsidered.
prefix
……………………..
……………………..
……………………..
……………………..
root
……………………..
……………………..
……………………..
……………………..
suffix
……………………..
……………………..
……………………..
……………………..
2- Supply punctuation and capitals where necessary.
This aspect of direct marketing an emphasis on traceable measurable positive responses from
consumers regardless of medium.
3- Put the verbs in brackets in their correct form.
a- We ( to watch) …………………….. the film yesterday.
b- I ( to practice) ……………………… sport every week.
c- In 2010 , south Africa ( to organize) ………………… the football world cup.
4- Link these sentences using the appropriate connector ( although , to , so , but )
a- The price of oil has greatly increased / Algerian people are still suffering lack of food.
b- The manager has helped a lot in the company’s projects / all the workers want him to be
re-elected.
c- Algeria is very rich in raw materials / it has a weak industry.
d- Ameliorate the productivity / the firm adopted a new strategy.
5- Translate the first paragraph into Arabic.
………………………………………………………………………………………………
……………………………………………………………………………………………..
……………………………………………………………………………………………..
…………………………………………………………………………………………… .
MARKETING
Marketing is a set of techniques having the aim of evaluating the need and the
intentions of the consumer and according to these data to work out strategies in order to
affect decisions of purchase.
The first technique of marketing intervening only after the production and simply
takes charges of the interests of the manufacturer up to the final point of sale.
Today, marketing took an importance much larger in the strategy of the entreprise. In
the large companies, marketing precedes the manufacture ouf product.
It includes market research and the development of the product the design and tests.
The management of marketing comprises planning, the organization, the direction and
the control of the decision-making concerning the ranges of products, the price
determination, promotion and the services. In the majority of these fields, marketing has total
control, like the development of the range of product; its role is primarily. In other cases, the
service marketing of a company has the load of the physical distribution of the products,
determining the distribution systems which will be used and supervising the profitable flow
of goods of the factory to the places of storage.
1)- answer the followin questions according to the text.
a- what’s the main goal of marketing?
………………………………………………………………………………………. .
b- mention the differences between marketing in the old times and now ?
………………………………………………………………………………………. .
c- in which domains has marketing a complete control ?
………………………………………………………………………………………. .
d- when is the role of marketing only advisory ?
………………………………………………………………………………………. .
2) find in the text words that are close in meaning to the following.
Taxies = ………………………
complete = ………………………..
Buying = …………………….
Comprise = ………………………..
3) find in the text words that are opposite in meaning to the following.
After ≠ ………………………
nature ≠ …………………………..
Finally ≠ …………………….
Minority ≠ ……………………….. .
4) match the words with their corresponding meaning.
words
a- market research
b- strategies
c- decision- making
meaning
1- Skills in managing any affair
2- Ability to judge and act accordingly
3- Study of the reasons why peole buy, or don’t buy certain goods.
5) complete the table.
present
take
past
Past.p
In arabic
Got, goten
Sent
Gone
Found
‫يجد‬
Begin
Begun
6) Translate into english the following word.
………………………………. :‫رؤوس األموال‬
...........................................................:‫السعر‬
………………………………………:‫االدخار‬
…………………………………………..:‫الترويج المالية‬
University Mohammed Boudiaf -M’sila
The second year of bachelor degree
Department of commerce L.M.D.
Marketing Concepts
The four Ps and the four Cs
The four Ps : product, price, promotion ,place is the mixture of marketing
activities a company uses when planning the products or services it will make
and sell. It is often referred to as the marketing mix, which was described by
Philip Kolter in his book Maketing Management as " the set of tools a firm uses
to pursue its marketing objectives in the target market".
Marketing mix
product : a company
should have the right
products for each of
its target markets.
Products :
Product variety
Quality
Design
Features
Brand name
Packaging
Sizes
Services
Warranties
Returns
Price
List price
Discounts
Allowances
Payment
period
Credit terms
Place : a company should distribute
products or services through the righ
canals and make them available in th
right outlets.
Promotion
Sales promotion
Advertising
Sales force
Public relations
Direct marketing
Price : a company should price its
products or services correctly in
relation to each other and to
competitor’s products or services.
Place
Channels
Coverage
Assorments
Locations
Inventory
Transport
Promotion : a company should
advertise and promote its
products and services in an
effective way.
The Marketing mix can be expressed in terms of the four Cs :
Customer solution : a company should find a solution to a customer’s problem
by offering the correct product or services, or combination of them, to satisfy
particular customer needs.
Customer cost : the price paid by the customer for the product.
Convenience : companies should distribute and make available products and
services in the way that are most convenient for each type of customer.
Communication : a two-way process in which customers obtain information
about a product or service through advertising and a company receives feedback
from customers which can then be used to improve its products and services.
The four Ps describes a marketing strategy from the point of view of the seller,
the four Cs expresses it from the point of view of the buyer.
( the four Cs were put forward by Robert Lauterborn in " new maketing litany :
4 P’s passé, C-Words take over" . Advertising Age,Cct 1,1990.
Exercise A :
 Which of the 4 Ps does each of these examples refer to?
1. A phone company decides to use name for all of its services- land lines,
mobiles , and high –speed internet access.
2. An electronic retailer makes all its products available in its stores or on-line.
3. A chemical company pays a specialised firm to talk to journalists about what
it is doing to protect the environment.
4. A food-processing company increases the number of its products available as
individual portions in response to a rise in the number of people living alone.
5. A car manufacturer arranges with suppliers to deliver parts just before they
are needed in production.
6. A clothes retailer allows customers to bring back items for a refund for up to
two weeks after purchase.
7. A company reduces the time that customers can pay from 60 to 30 days.
Exercise B :
 Which of the four Cs of these customers referring to ?
1. " I like the way the call centre staff were so helpful
- They politely answered all my questions" .
2. " My bank has a good branch network and there’s one very near where i
work. It’s good not to have to travel across town to get to one".
3. " I wanted something that would allow me to read my email and make phone
calls ."
4. " The airline’s fares are so low that i make trips that i would never have made
before".
University Mohammed Boudiaf -M’sila
The second year of bachelor degree
Department of commerce L.M.D.
Segmentation
A segment or market segment is a group of customers who share similar
characteristics, such as age, income, etc, and have similar needs in relation to a
particular product or service.
When marketers segment a market, they divide customers into segments so that
products or services can be designed for, and sold so, a particular group in a
particular way.
This activity is called segmentation.
For example : a computer manufacturer might divide its customers into these
segments :
1. Home users, who buy computers to surf the internet, play video games, to
watch DVD’s .
2. Small businesses, who buy computers for email, office applications such as
word processing, spreadsheets etc.
3. Big companies, who buy high number of computers for use in large network.
The computer maker will use different marketing strategies for each segment,
for example, it may use newspapers advertisements to target the first two
segments and employ a special sales force to sell products to the third group.
In consumer marketing, companies might be use the following systems as a
basis for their segmentation:
A. Professionals, for example top business executives and senior civil
servants.
B. Other people with responsible jobs as middle managers, teachers etc.
C1All other doing non-manual jobs : technicians, nurses, etc.
C2. skilled manual workers.
D.semi-skilled and unskilled manual workers.
E.those on the lowest income levels, such as pensioners on a state pension
with no other
income.
Exercise :

Match each industry 1-4 to possible form of segmentation a-d.
1.
2.
3.
4.
Airlines
Clothing
New houses
Kitchen equipment
a.
b.
c.
d.
First-time buyers, professionals who work from home, families.
Business travelers, leisure travelers
Owners of restaurants, large houses, small flats.
Children, teenagers, young adults, old adults.
University Mohammed Boudiaf -M’sila
The second year of bachelor degree
Department of commerce L.M.D.
Governments finance most of their expenditure by taxation. If they spend more than they levy or
charge in taxation they have to borrow money.
Direct taxes are collected by the government from the income of individuals and businesses.
Most of countries have a capital gains tax on profits made from the sale of assets, this is
usually imposed or levied at much lower rate than income tax.
Companies pay corporation tax on their profits. Business profits are generally taxed twice,
because after the company pays tax on its profits, shareholders pay income tax on any dividends
received from these profits.
Companies and their employees have to pay taxes (national insurance) which the
government uses to finance social security.
Indirect taxes are levied on the production or sale of goods and services they are included in the
price paid by the final purchaser as:
- Value added tax (VAT) which is levied at each stage of production.
- Government levy excise tax on commodities like tobacco products and petrol.
Questions:
1) Give a title to the text:…………………………………………..
2) Give the synonym of the following words:
* charge =
* goods =
* have to =
3) Give the opposite to the following words:
* spend ≠
* lower ≠
* profits ≠
4) are the following statements true or false , justify from the text.
*capital gains are generally taxed at a higher rate than income
*direct tax is sum included in the price paid by the last client
*the same sum of money can be taxed more than once.
1
5) Change the following sentences to passive voice .
-They sell milk in that shop.
Faride is teaching the students English.
Every one ought to listen carefully to the explanation of the new lesson
-
6) Attach the concept with its definition using an arrow(→).
Concepts
leadership
inflation
break even
management
definitions
When our spending equals the sum we receive from sales .
Is raising prices.
The skill of managing people.
The study how to run a business and lead people
2
University Mohammed Boudiaf -M’sila
The second year of bachelor degree
Department of commerce.
Documentary credits
A company which sells goods or services to other countries is known as an exporter. A
company which buys products from other countries is called an importer. Payment for
imported products is usually by documentary credit. This is a written promise by a bank to pay
certain amount to the seller, within a fixed period, when the bank receives instructions from
the buyer.
Documentary credits have a standard form and are usually irrevocable, meaning that they
can't be changed unless all the parties involved agree. Irrevocable credits guarantee that the
bank which establishes the documentary credits will pay the seller if the documents are
presented within agreed time.
Bill of exchange
Another method of payment is a bill of exchange. This is a payment demand, written or drawn
up by an exporter, instructing an importer to pay a specific sum of money at a future date.
When the bill matures, the importer pays the money to his bank, which transfers the money to
the exporter's bank . this bank then pays the money to the exporter after deducting its
charges.
A bank may agree to endorse a bill of exchange before it matures. T o endorse a bill is to
guarantee to pay it if the buyer of goods does not. If the bill is endorsed by well-known bank,
the exporter can sell it at a discount in the financial markets. When the bill matures the, the
buyer receives the full amount. This way the exporter gets most of the money immediately,
and doesn't have to wait for the buyer to pay the bill.
Questions
1) suggest a title to the text:
2) supply the synonym of the following words:
* Get=
* articles=
*Often=
3)give the opposite to the following words:
*after ≠
* order=
*importer≠
*purchase ≠
*lose ≠
4) evaluate the following statements with true or false





With documentary credit , the buyer tells the bank when to pay the buyer.
Documentary credits are only valid for a certain length of time.
With a bill of exchange, the seller can get most of the money before the buyer pays.
An exporter usually has the right to change the documentary credit.
Bills of exchange are sold at less than 100%, but redeemed at 100% at maturity.
5) put these events in the correct order.
A bank accepts or endorses the bill of exchange
The accepting bank pays the full value of the bill to whoever bought it.
The exporter sells the bill of exchange at a discount on the money market.
The importer receives the goods and pays his bank.
The importer's bank transfers the money to the accepting bank.
The seller or exporter writes a bill of exchange and sends it to the importer.
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2
3
4
5
6
6) attach the concept with it's definition using an arrow(→).
Concepts
definitions
- Sluggish
-Quit a job suddenly.
-Unit cost
-given money to someone else.
-resign
-when business is slow.
-supply
-the whole quantity of product available in the
market.
* From these two words choose one and put it in useful sentence.
1- salary 2-target
…according to your choice.