Unit 5

Section One Tactics Listening

Listening and Translation

Directions: Listen to some sentences and translate them into Chinese. You will hear each sentence only once.

1. 股票、债券、土地 — 人们由于不同原因进行不同的投资。

2. 但是所有的投资者都有一个共同的目标。

3. 他们希望通过投资获得比所有投入的资金更多的货币回报。

4. 他们今天的投资为将来经济的发展提供了资金。

5. 他们今天的投资为将来经济的发展提供了资金。

Section Two Listening Comprehension

Part 1 Dialogue

The Bank Manager

BACKGROUND INFORMATION

M.O.T. Test Ministry of Transportation Test, a compulsory annual test of older motor | vehicles for safety and exhaust fumes

VOCABULARY

loft /l\u252ft/ n. an attic

avail oneself of make use of; take advantage of

direct debit /da\u26a\u2ccrekt 'deb\u26at/ ［会计］直接借记(定期支付项目中收取款项一方的银行向应付款一方银行直接发出要求付款的单据，并记入付款者账户的借方)

trade-in /'tre\u26ad \u26an/ n. a used article accepted by a retailer in part payment for another

Directions: Listen to the dialogue and choose the best answer to each of the following questions.

1.Why has Mr Watson come to see the bank manager? D

A.Because he wants to open a bank account.

B.Because he wants to withdraw a large sum of money

C.Because he wants to overdraw on his account.

D.Because he has some problems with his account at the moment.

2.Which of the following does not account for Mr Watson's overspending recently? A

A.Rebuilding of his house.

B.His car's failure to pass its M.O.T. Test.

C.Buying new equipment for his house.

D.Buying new parts for his car.

3.How does the bank manager feel after hearing Mr Watson's problems? D

A.He feels sorry about his problems.

B.He understands his problems.

C.He feels appreciated that Mr Watson has come.

D.He thinks Mr Watson should have contacted them earlier about his overdraft.

4.What will happen if one's account is overdrawn in the absence of any prior arrangement for an overdraft facility? B

A.He will be fined. B. His cheques will be stopped.

C. He has to open a new account. D. His credit will be shortened.

5.How can you benefit from a Budget Account? C

A.You have immediate access to an overdraft.

B.Vou have immediate access to a limited overdraft.

C.You have immediate access to an overdraft up to 30 times.

D.You have immediate access to an overdraft up to ￡1,500.-

6.Why is a Budget Account very helpful? C

A.It is interest-free.

B.You will be able to buy a new car.

C.It reduces the impact of sudden heavy bills.

D.You will be able to save a lot of time.

7.Which of the following is not true according to the bank manager? A

A.Saving up for a new car is wiser than borrowing money to buy one.

B.Barminster loans are designed for a big spending.

C.It will be more beneficial if you change your car every two or three years rather than every ten years.

D.It's often considerably cheaper to get a loan to pay for an alteration to your house now than to wait until you can really afford it.

8.Why does the bank manager ask Mr Watson to come? C

A.Because he wants to fine him.

B. Because he wants him to open a Budget Account.

C.Because he wants to introduce to him two services he can avail himself of

D.Because he wants him to make an arrangement for an overdraft facility.

Part 2 Passage

Stock Market: How It Works

VOCABULARY

trigger /'tr\u26a\u261\u259/ v. cause (an event or situation) to happen or exist

plunge /pl\u28cnd\u292/ u. fall suddenly

exert /\u26a\u261'z\u25c\u2d0t/ v. apply or bring to bear (a force, influence, or quality)

portfolio /p\u254\u2d0t'f\u259\u28al\u26a\u259\u28a/ n. a range of investments held by a person or organization

A: Pre-listening Question

What do you know about the stock market in China?

The Shanghai Stock Exchange was founded on November 26th, 1990 and in operation on December 19th the same year, and Shenzhen Stock Exchange was established on December 1st, 1990.

B: Sentence Dictation

Directions: Listen to some sentences and write them down. You will hear each sentence three times.

1. A wave of selling triggered widespread price declines in stock markets

from New York to Australia. The Dow Jones Industrial Average plunged

508 points in the panicked rush to sell.

2. The stock market is the means through which previously issued.

corporate stocks, shares of ownership in a corporation, are traded.

3. However, the forces influencing the prices of corporate stocks are quite different from those influencing the prices of goods and services.

4. People and organizations who buy and hold stock do so for the incomes they hope to earn.

5. When Black Monday finally reeled to a close, many a portfolio had lost over a fifth of the value it had the day before.

C: Detailed usienlng

Directions: Listen to the passage and choose the best answer to each of the following questions.

1.When did the widespread price declines in stock markets from New York to Australia take place? B

1 On October 19, 1986.B. On October 19, 1987.

C On October 19, 1988.D. On October 19, 1989.

2.How much value did the Dow Jones Industrial Average of the prices of 30 stocks of major US companies lose? A

A. About 23 percentB. About 26 percent.

C About 30 percent.D. About 50 percent.

3.What do members of stock exchanges do for their clients? D

A. Buying and selling property.B. Buying and selling companies.

C Buying and selling bonds. D. Buying and selling stocks.

4. How much of the US stock trading takes place at the New York Stock Exchange? B

A. 90 percent.B. 80 percent.

C. 70 percent.D. 60 percent.

5.What determines stock prices? B

A. The demand for stocks.B. The supply of and demandfor stocks.

C. The expected return. D. The supply of capital.

6.What determines the quantity of the trading of stocks? D

A. The government policy.B. The number of investors.

C. The specialists' adjustment.D. The potential incomes from the investment.

7.Who is assigned to control trading in each stock? C

A. A broker. B. A supervisor.

C.A specialist. D. A manager.

8. Which of the following is not true? C

A.The stockholders can get dividends.

B.Sometime it is a better alternative investment.

C The expected return is higher compared to the return on alternative investments.

D.The stockholders can make money from the changes in the price of stock over time.

D: After-listening Discussion

Directions: Listen to the passage again and discuss the following questions.

1.What is “Black Monday”?

On October 19, 1987, a wave of selling triggered widespread declines in stock markets from New York to Australia. That day is “Black Monday On that day, there were hardly any buy orders, and the markets were flooded with sell orders. Over 600 million shares were traded on the New York Stock Exchange---more than twice the NYSE's average sales volume. The Dow Jones Industrial Average of the prices of 30 stocks of major US companies lost 22.6 percent of its value on that memorable day, plunging 508 points in the panicked rush to sell. When Black Monday finally reeled to a close, many a portfolio had lost over a fifth of the value it had the day before.

2.Do you like to be a broker? Why?

Open.

Section Three News

News Item 1

A: Directions: Listen to the news and complete the summary.

This news item is about the fact that Arctic is the warmest in two millennia. .

B: Directions: Listen to the news again and fill in the blanks with the missing information.

Scientists have produced evidence showing dramatically that the current temperature rise For most of the last two thousand years, the Arctic highly unusual variations in the Earth's orbit.

But over the last century, the cooling abruptly reversed , and the region is now warmer than at any time in the 2,000-year record. Writing in the journal Science, the researchers say this shows how quickly the Arctic responds to climatic changes .

News Item 2

VOCABULARY

deforestation /\u2ccdi\u2d0\u2ccf\u252r\u26a'ste\u26a\u283n/ n. the cutting down of trees in a large area; the destruction of forests

flush /fl\u28c\u283/ v. clean a toilet with a rapid flow of water

A: Directions: Listen to the news and complete the summary.

This news item is about WWF's accusation against European toilet and tissue paper manufacturers of contributing to global deforestation by not using enough recycled material. .

B: Directions: Listen to the news again and answer the following questions.

1.How many trees are being discarded as tissue paper each day?

More than a quarter of a million trees.

2.What did the report find?

The report found alarmingly low levels of recycled fibers in the vast majority of products by European toilet and tissue paper manufacturers.

3.Where are the fibres used by European toilet and tissue paper companies taken from?

The fibers are taken from natural forests in South Africa, Asia, Europe and across the Americas.

4.What have most of the toilet and tissue paper manufacturers failed to do?

Most of the companies have failed to take effective measures to prevent illegal or controversial timber from being used in their products.

News Item 3

VOCABULARY

ornithologist /\u2cc\u254\u2d0n\u26a'\u3b8\u252l\u259d\u292\u26ast/ n.鸟类学家，禽类学家

A: Directions: Listen to the news and complete the summary.

This news item is about the warnings from specialists that climate change can drive some species of migrating animals towards extinction .

B: Directions: Listen to the news again and complete the following outline.

Findings: Climate change can drive some species of migrating animals towards extinction .

Reason: Birds, mammals and reptiles are finding it increasingly difficult to follow their usual migrating patterns .

Examples: 1. The spreading Sahara Desert could make it impossible for swallows to make the epic journey from Southern Africa .

2. Rising sea levels will destroy many coastal habitats for turtles and wading birds.

3.Warmer oceans could lead to some turtle species becoming entirely female .

Section Four Supplementary Exercises

Part 1 Feature Report

Money, Fame, Power Don't Motivate Most Workers

VOCABULARY

intrinsic /m'trmsik/ adj. of or relating to the essential nature of a thing

banjo /baend3/ n.班卓琴

extrinsic /ek'strisik/ adj. coming from outside

ingenuity /,md3i nju:oti/ n. inventive skill or imagination

A：Directions: Listen to the news report again and answer the following questions.

1. What is carrot-and-stick approach?

2. In what situation does this approach work well?

3.What does an extrinsic motivator mean?

4. What is the definition of an intrinsic motivator?

5.What are the three components that comprise intrinsic motivators?

B：Directions: Listen to the news report again and complete the following chart.

Part 2 Passage

Illeagal Business Practices

BACKGROUND INFORMATION

FTC abbr. Federal Trade Commission （美国）联邦贸易委员会

VOCABULARY

blatant /'bieitant/ adj. obvious, naked 显著的

detriment /'detrimont// n. damage, harm, or loss

A: Pre-listening Question

How much do you know about illegal trading agreements in the business world?

B: Sentence Dictation

Directions: Listen to some sentences and write them down. You will hear each sentence three times.

1. Agreements among parties in a competing relationship can raise antitrust suspicions. Competitors may be agreeing to restrict competition among themselves.

2. Antitrust authorities must investigate the effect and purpose of an agreement to determine its legality.

3. Prices may increase if consumer demand for a product is particularly high and the supply is limited.

4. Recent cases involved a group of physicians charged with using a boycott to prevent a managed care organization from establishing a competing health care facility in Virginia.

5. The FTC recently charged a group of auto dealers with restricting comparative and discount advertising to the detriment of consumers.

C: Detailed Listening

Directions: Listen to the passage and decide whether the following statements are true (T) or false (F). Discuss with your classmates why you think the statement is true or false.

1.As price is often the most important way that firms compete, agreements about

price or price-related matters are the most crucial. T

2.Evidence of an agreement to fix prices is hard for antitrust authorities to find

out. T

3. Price similarity simultaneous price changes or high price are no other than indications of price-fixing. F

4.An agreement to restrict production or output is legal because it can keep the

price stable. F

5.All the boycotts (except some preventing a firm from entering market or disadvantaging a competitor) are supposed to be legal but unacceptable. F

6.Agreements among competitors to have their own territories or customers are considered to be legal and acceptable because they enjoy equality. F

7.Restrictions on price advertising can be illegal if consumers are not informed of

valuable information. T

8.Restrictions on non-price advertising may also be legal if competitors are not

able to provide ethical business justification. F

D: After-listening Discussion

Directions: Listen to the passage again and discuss the following questions.

1.Could you name some aspects where the agreement is not reasonably related to the firms' business operations?

2.In what ways do you think illegal business operations affect consumers?