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Alexandra Angarita Torres

Valery Hazbun Maria



“Taller de comprensión de lectura”.

Descripción de la evidencia solicitada

Desarrollar un taller de comprensión lectora sobre términos técnicos en idioma
inglés, referente a oferta y demanda.

Lea con atención el texto “Supply and Demand”, que se encuentra en el objeto de
aprendizaje de la Actividad de Proyecto 4, y conteste:

1. Match the Word with the corresponding meaning:

a. Supply (c) Expensive

b. Demand (b) Desire to buy any product
c. High price (d) All people.
d. Mass market (e) The lifetime of goods and services.
e. Life cycle (a) Disposition to offer products

2. According to the text, mention the things people take into account to determine the
Market research findings are important in developing the overall marketing mix for a given
product. By identifying specific customer needs a business can adjust the features,
appearance, price and distribution method for a target market segment

3. Write F for false or T for true

a. Production cost depends on Technology

F() V (X)

b. As greater the expectations are, the lower will be the offer from the companies.
F (X) V ( )

c. One of the four Ps of marketing mix is Package

F (x) V ( )

d. Price is the amount a customer pays for the product.

F() V (x)

e. Planning is to transform and develop marketing objectives to marketing

F (X) V ( )
4. Answer the following questions
a. What is Benchmarking?
Benchmarking is comparing one's business processes and performance metrics to
industry bests and best practices from other companies. In project management
benchmarking can also support the selection, planning and delivery of projects. Also
dimensions typically measured are quality, time and cost. In the process of best practice
benchmarking, management identifies the best firms in their industry, or in another
industry where similar processes exist, and compares the results and processes of those
studied (the "targets") to one's own results and processes. In this way, they learn how well
the targets perform and, more importantly, the business processes that explain why these
firms are successful. According to National Council on Measurement in Education,
benchmark assessments

b. What is the process of Benchmarking?

There is no single benchmarking process that has been universally adopted. The wide
appeal and acceptance of benchmarking has led to the emergence of benchmarking
methodologies. One seminal book is Boxwell's Benchmarking for Competitive Advantage

The first book on benchmarking, written and published by Kaiser Associates, is a practical
guide and offers a seven-step approach. Robert Camp developed a 12-stage approach to
benchmarking. The 12 stage methodology consists of:
Select subject
Define the process
Identify potential partners
Identify data sources
Collect data and select partners
Determine the gap
Establish process differences
Target future performance
Adjust goal
Review and recalibrate

c. Number the aspects to be taken into account in Benchmarking:

Quality:It refers to the level of value created for the products for the client over the cost of
producing quality systems design that ensure that the quality can be added or meet the
predetermined standards.
In addition, it refers to organizational development on the basis that we focus so much on
what we do, on the development of human resources, on commitment and involvement, as
well as on training.

Productivity: It is the search for excellence in the areas that control input resources, and
productivity can be expressed by the volume of production and the consumption of
resources that can be costs or capital.
Time: Faster flows in administration, sales, production and distribution have received
greater attention as a potential factor for improving productivity and competition.

5. Write the vocabulary (20 words) from the reading, and make a Glossary: Organize
the words in alphabetic order and write the meaning of each word.

Advertising: Dissemination or dissemination of information, ideas or opinions of a

political, religious, commercial, etc., with the intention that someone acts in a certain way,
think according to ideas or not be a specific product.

Application: In computer science, an application in a computer program designed as a

tool to allow a user to perform one or several types of tasks.

Brand: is a primary trademark and the set of identifiers with which it relates and offers a product or
service in the market.

Business: Occupation, activity or work that is done to obtain a profit, especially the one
that consists in carrying out commercial operations, buying and selling products or

Client: is the person or company receiving a good, service, product or idea, a change of
money or other item of value.

Company: Entity in which capital and labor are involved as factors of production of
industrial or commercial activities or for the provision of services.

Demand: total amount of goods and services that can be acquired at different market
prices per consumer or more.

Goods: material or immaterial things that, from a legal point of view, are objects of law, in
the same way that, from an economic perspective, they are limited and, consequently,
have a value that can be defined in the monetary terms.

Market: Theoretical place where the supply and demand of products and services are
located and the prices are determined.

Marketing: is the social and administrative process for which groups and individuals meet
their needs when creating and exchanging goods and services

Packaging: material that encloses an article with or without packaging, in order to

preserve it and facilitate its delivery to the consumer.

Price: Amount of money that allows the acquisition or use of a good or service.

Product: eligible, viable and repeatable option that the offer makes available to the
demand, to satisfy a need or meet a desire through its use or consumption
Promotion: Advertising campaign that is made of a specific product or service for a limited time
through an attractive offer.

Research: Research is an activity aimed at obtaining new knowledge and its application
for solving problems or questions
Rivalry: market structure in which there are enough bidders and claimants not to influence
the price.

Sales: it is a consensual, bilateral, onerous and typical contract in which anything of the
parties (seller) is obliged to give something in favor of the other (buyer) a change of a price
in money.

Service: A service in a set of activities that seek to satisfy the needs of a client.

Supply: quantity of goods or services that producers are willing to sell to consumers under
market conditions.

Technology: A set of instruments, technical resources or procedures used in a specific

field or sector.

6. Write a ten lines text that summarizes the topic of the activity.
The supply and demand model is used to analyze markets competitive where there are
many buyers and many sellers in where none of them has influence on the price.
The law of supply and demand reflects the relationship between the demand that exists for
a good in the market and the quantity thereof that is offered based on the price that is
It must be considered that the market is of free competition, there are negotiations
between the bidders and the plaintiffs and free merchandise traffic is allowed.
The theory says that speaking within a market of perfect competition, the price of a good
will be placed at a "point of equilibrium" where demand equals supply.
That point of equilibrium is the price at which consumers are willing to buy the good.