Pokyny k bloku otázek: Choose the best option to complete the gaps in the text:

Competition

Customers might not think about multicompanies competition when they’re walking through the grocery store or 1. _________ an online purchase, but it happens to be a cornerstone of business and the free 2. _________ that impacts every single thing that’s bought and sold. Technically, competition consists of the cumulative force of 3. _________ taken by companies that’re designed to improve their market standing, sales, and ultimately, 4 _________. But really, competition is simply that allows 5. _________ to try and get ahead of each another, and 6. _________to get the best possible value.

Like many business ideas, 7. _________  is best explained through an example. Imagine that a company opens a profitable 8. _________ location and sells bread at an enormous profit. After another company notices all the profits that’re being made through bread sales in this neighborhood, they may open a store of their own and undercut the competition, or sell similar items or services for lower 9. _________. The first company may start its own 10.  _________, i.e. lower their own prices (so they sell more bread to their former customers, who’re presumably buying the cheaper bread), and the final result is much cheaper bread for consumers. In this way, businesses going head-to-head benefits customers.
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Pokyny k bloku otázek: Choose the best option to complete the gaps in the text:

Banking

Banks are financial 11. _________ that provide customers with a variety of money services, including the option to lend money to a person or company, either to store money in customer’s 12. _________.
Banks are most commonly used by 13. _________ who wish to store their money and access it when it is needed with a debit card.

Checking and savings accounts are the approach of storing money in a bank. A checking account is created to keep money that will be spent, while a savings account is to create to store money that will be saved. Banks usually pay a small amount of 14. _________ in the form of a percentage to a customer’s deposit. This is the traditional way of showing 15. _________ to the clients who keep their money in the bank.

These funds are then used to perform other bank functions and offer various 16. _________ to their customers . For example, many customers use banks to get home 17. _________ or long term loans. Customers demonstrate their ability to pay a mortgage back. Usually customers provide the proof of their 18. _________, in addition to a sum of amount paid up front. Short mortgage can be for several years only but require larger monthly 19. _________, therefore customers are charged with less interest.

Lastly, a lot of bank customers request a personal loan. Personal loans are loans issued and approved by financial 20. _________ that’re planned to be used by customers for specific purposes. For example, one may secure a personal loan for a business plan or an automobile. Personal loans are issued based upon a customer’s ability to pay the borrowed amount back.

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Marketing

In the competitive business world companies have to seek ways to increase the business and to work out a 21. _________ which would put them ahead of their 22. _________ . To strengthen their positions and to remain 23. _________ companies can use many ways of development including marketing.
Marketing is a number of activities intended to make and attract a profitable 24. _________ for a product. It includes 4 factors:

1. identifying consumer needs and wishes in order to develop the product
2. setting the 25. _________
3. finding the best place to sell the product means promoting
4. 26. _________ the product on the market.

These four factors are often referred to as The Four Ps’ or the marketing mix.
Direct mail marketing involves sending publicity material to people directly by mail. It is highly successful for sending magazine subscriptions, insurance and financial services.
A good example of successful marketing is considered to be Shell Oil Product Company. Shell oil’s marketing team decided to differentiate the Shell brand from the other brands on the market. They 27. _________ 55000 people about their attitude to driving and cars in general. Then they analyzed the results which showed that there were 10 different 28. _________ segments. Three groups were chosen as the target markets. They carried out a detailed study of the market over 18 months. The result was that everyone wanted 3 things from a service station
• competitive price
• a nearby location
• high quality fuel.
Work started on improving products and 29. _________. So, as we can see, marketing is one of the most important aspects of running the 30. _________ successfully.

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Supply and Demand

In the business world it’s common to hear and see references to supply and demand. With that said, few individuals possess a thorough understanding of the idea and its wide-ranging impact on markets, prices, and 31. _________.
In short, supply and demand refers to how much customers want or need to buy product in relation to its availability. Generally speaking, high 32. _________ results in limited supply and increased prices, and low demand results in an ample supply and 33. _________ prices.
This latter phenomenon – the correlation between supply and demand and prices -might sound confusing at first, but it’s actually rather simple. When there isn’t enough of product available for sale to satisfy demand (or so that everyone who wants this “something” can simply 34. _________ it, manufacturers, or businesses charge more. They are able to do so because they don’t face with 35. _________, and customers are willing to pay more. Inversely, if something is available in abundance, companies will have to také the competition in an account, or actions taken by a company that’re designed to improve its market standing, sales, and ultimately, 36. _________.
An example will make the concept of supply and demand entirely clear. Imagine that a company creates a fantastic video game that many customers want to buy. Demand will build both naturally and as the product isn’t available to buy, and if the 37. _________ doesn’t increase to give every willing customer a game, prices will rise. In other words, if customers have no other way to buy the game than through its 38. _________.
On the other hand, a product is widely accessible, and can be sold by any company. Pasta, for instance – will be manufactured, marketed, and sold by a number of 39. _________ . One company might sell a box of pasta for 2 eurs, and another company could respond to this price by selling their own pasta for 1 eur, and another company could sell their pasta for 1.5 eurs, and so on and so forth. Demand won’t be particularly high in this scenario, as there will be plenty of the product at-hand to go around.
Moreover, demand comes before competition; if demand is relatively low because a supply is high, 40. _________ will fall and the competition will occur.

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