SUPPLY AND DEMAND

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 DEMAND.

A. Tastes or preferences
B. Number of consumers
C. Income
D. Consumers expectations
E. Price of related goods

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 ( ) V (x )
C. One of the four Ps 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
strategies. F( ) V(x)
 4- ANSWER THE FOLLWING QUESTIONS.

A. What is Benchmarking?

Benchmarking is the procedure of determining who the best one is It is an amount of the
quality of company’s products, policies, programs, tactics, etc., and their contrast with
standard measurements, or similar amounts of others. It is, also, the continuous
systematic process for evaluating the companies that are recognized as best-in-class, for
the following purposes:

Establishing priorities, target, goals

Developing product and process objectives

Meeting or surprising industry best practices.

B. What is the process of Benchmarking?

1. Planning it is the plan for running the benchmarking investigation.

2. Analysis After analyzing the information, it obtains a basis for comparison.

3. Integration Develop aims and incorporate them into the benchmarked process.

4. Action it refers to the action plans necessary to achieve the objectives decided in step 3.

C. Number the aspects to be taken into account in Benchmarking?

Product it is the thing produced by labor or effort.

Price It refers to the quantity of payment or compensation given by one party to another
in return for goods or services.

Sales systems it is a set of principles, processes, strategies and tools that are put into place
to bring the company results day-in and day-out.

Payment systems it is used for transferring money include debit cards, credit cards, and e-
commerce payment systems.
Advertising it is a form of communication used to encourage or persuade an audience to
continue or take some new action.

Promotion it refers to the communications with the public in an attempt to influence

them toward buying your products and/or services.

Location it is a place where something is or could be located.

Organization it is a social unit of people systematically structured and managed to meet a

need or to pursue collective goals on a continuing basis.

Planimetry it is the measurement of plane surfaces; for example, the determination of,
angles, horizontal distances and areas on a map

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.

Also: in addition:

Business: the activity of buying and selling goods and services

Companies: an organization that sells goods or services in order to make money, the fact
of being with a person or people

Coverage: the reporting of a particular important event or subject, the fact of dealing with
or directing attention to something

Customer: a person who buys goods or a service:

Decrease: become less, or to make something become less:

Demand: it refers to the desire, ability, and disposition of consumers to buy any product.

Distribution: the process of giving things out to several people, or spreading o

resupplying something: The ways in which people or things are spread out in a place

Income: money that is earned from doing work or received from investments:
Increase: become larger in amount or size

Inventory: a detailed list of all the things in a place, the amount of goods a shop has, or
the value of them; stocktaking the counting of all the goods, materials, etc. kept in a place
such as a shop

Market: buying and selling, Place, shop.

Meaning: The meaning of something is what it expresses or represents

importance or value

Objectives: something that you plan to do or achieve

Presentation: A talk giving information about something: an occasion when prizes,

qualifications, etc. are formally given to those who have won or achieved them:

Price: the amount of money for which something is sold, the results that you must accept
or experience for getting or doing something:

Product: Thing made, in mathematics, in chemistry.

Promotion: encourage, raise

Supply: it is related to the ability and disposition of producers to offer products for sale.

Warranty: a written promise from a company to repair or replace a product that develops
a fault within a particular period of time, or to do a piece of work again if it is
not satisfactory, Synonym guarantee

6- WRITE A TEN LINES TEXT THAT SUMMARIZES THE TOPIC OF THE ACTIVITY.

Supply and demand are two important concepts in economy. They are related each other,
because when one increases, the other decreases. They are related too with quantity of
products and with equilibrium in price. Are two essential aspects in the market because
the market is dynamic, marketing specialists use a variety of tools in order to achieve the
goals of the company through combination.
Supply and demand in their interaction, are forces that define the market trend; these
two elements relate the amount of production and the price at which it must be sold,
becoming a determining factor for decision making in any company.