Учебное пособие Москва Издательство мгту им. Н. Э. Баумана 2014 г
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Text 3 B“Top Value” Tesco Raises Price FastestTESCO, which claims to offer the best value for money of any British supermarket, is increasing food prices faster than any of its main rivals. The store, at present promoting discounts in a national advertising campaign, has added more than 5% to the cost of basic foods since the beginning of the year. The increase significantly outstrips overall food prices, which according to Central Statistical Office figures have risen by less than 1% over the same period. An investigation by the Sunday Times has shown that Tesco’s three leading rivals – Asda, Safeway and Sainsbury – are also increasing their prices sharply. The study will further fuel criticism of the high level of supermarket profit margins. The Safeway supermarket group announced on Wednesday that it had increased its margins from 6.3% to 7%. Safeway’s annual pre-tax profits rose to &275m, a six-fold rise in five years on sales that are up three fold. Sainsbury has become Britain’s most profitable retailer, although a Sunday Times investigation last weekend showed how shoppers were paying a price for its success. The latest survey compared the cost of 34 popular foods and household goods with prices in January, when researchers conducted a similar study . The basket, selected by the Consumers’ Association, included leading brands, fresh meat and vegetables. Tesco, which last month announced a rise of nearly one third in annual pre-tax profits to &545m, has put up the price of the basket by more than 1% each month this year, the fastest among the big chains. It came to &30.14 compared with &28.67 in the previous study, a rise of 5.1%, with a loaf of Hovis bread increasing by 19%. The basket cost 30.19 at Safeway, Britain’s third biggest food retailer. This represents a 3.2% increase, with tomatoes at 62p per pound, up 27%, and a pack of ten Birds Eye fish fingers costing &1.17, up 18%. Sainsbury claims its prices are on average 2% lower than those of its rivals but it charged the most at &30.23, a rise of 4% on the cost of the previous basket. Even Asda, attempting to promote itself as a cost –conscious retailer, put up the price of the goods by 2% to &29.75. Experts said yesterday that supermarkets were disguising price increase behind a barrage of discount promotions while extending their profit margins. John Winkler, who advises firms on ways to improve profits, said one tactic was to drop prices only to put them back up to a higher level. “The aim is to break down the consumer’s memory for prices” he said. Supermarket shares were hit last week as politicians complained about their profits achieved during the recession, strengthening the possibility of an inquiry by the Office of Fair Trading (OFT) into food price. Read the text and answer the questions:
Text 3 CThe Effects of InflationIn economies such as the UK which are dependent upon a high level of exports and imports, inflation often leads to balance of payments difficulties. If other countries are not inflating to the same extent, home-produced goods will become more competitive in the home market. Exports will be depressed and imports will rise. If this process continues it must lead to a balance of payments deficit on the current account. The problem will be a particularly difficult one where inflation is of the demand-pull type, because in addition to the price effects the excess demand at home will tend to ‘draw in’ more imports. These balance of payments effects apply particularly where a country is operating a fixed rate of exchange. A floating rate of exchange means that the rise in home prices does not have such an unfavourable effect on the volumes of exports and imports. Mini-presentationYou are asked to give a short talk on a business topic. You have to choose one of the topics from the three topics below and then talk for about three minutes. 1. Types of Inflation 2. Inflation and Business 3. The Reasons of Inflation |
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