EVIDENCIA: 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. SUPLY C Expensive

B. DEMAND B Desire to buy any product

C. All people
HIGH PRICE D
The lifetime of goods and services
D. MASS E Life cycle disposition to offer products
E. MARKET A

2. According to the text, mention the things people take into account to determine the
demand.
1. Tastes or preferences.
2. Number of consumers.
3. Income.
4. Consumer expectations.
5. Price of related goods.

3. Write F for false or T for true

A. Production cost depends on Technology

F() T (X)
B. As greater the expectations are, the lower will be the offer from the companies.
F (X) T()
C. One of the four Ps of marketing mix is Package
F (X) T()
 D. Price is the amount a customer pays for the product
F() T (X)
E. Planning is to transform and develop marketing objectives to marketing strategies
F() T (X)

4. Answer the following 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.

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:

1. Product 6. Promotion
2. Price 7. Location
3. Sales systems 8. Organization
4. Payment systems 9. Planimetry
5. Advertisting

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

BUSINESS: Occupation, activity or work that is carried out to obtain a benefit, especially
the one that consists of carrying out commercial operations, buying and selling
merchandise or services.

BUYER: Person who buys.

CHEAPER: That it has a low price or costs little money.

CONSUMER: Person who consumes goods and products in a market society.

DECREASES: Make something less in quantity, quality, and intensity.

DEMAND: It refers to the desire, ability, and disposition of consumers to buy any product.

EXPENSIVE: That costs a lot of money.

INCREASES: Make something greater in quantity, quality, and intensity.

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.

PAY: Giving a person an amount of money or something that is owed to him, either in
exchange for one thing, or for a service or job he has done.

PAYMENT: Action to pay.

PLACE: Points of sale. Allows different products to be available to consumers in the right
time, shape and place.

PLANIMETRY: It is the measurement of plane surfaces; for example, the determination of,
angles, horizontal distances and areas on a map.

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

PRODUCT: Thing produced naturally or artificially, or the result of a job or operation.

PROMOTION: Action to promote a person, a product, a service, etc.

SALES: Action to sell.

SELL: Give something to someone in exchange for a certain amount of money.

SUPPLY: It is related to the ability and disposition of producers to offer products for sale.

6. Write a ten lines text that summarizes the topic of the activity.

Supply and demand are probably the most fundamental concepts in the economy.

Demand expresses the purchasing intentions of consumers. Supply is the set of offers made
in the market for the goods and services for sale. To determine the demand, you must take
into account: tastes or preferences, number of consumers, Income, consumer expectations
and price of related goods. Factors that determine supply, price of goods, production costs
and Business objectives.

The marketing mix is an analysis of the internal strategy of companies with four variables:
price, product, distribution and promotion.

Benchmarking allows comparison with the best, analyzing any critical process in an
organization. It is used to find the best within or outside the organization.