I. Fill in the gaps with prepositions or adverbs:
1. … the one hand, Brazil enjoys an absolute advantage in coffee production.
2. Wants and needs refer … people’s desires.
3. Sometimes individuals and businesses must rely … other people to furnish the remaining products.
4. One nation can produce a product … a lower cost than a second nation.
5. The need … making choices arises from the problem of scarcity.

II. Ask for the underlined part. Write the complete English question:
1. Some see management as late-modern conceptualization.
2. Slave-owners through the centuries faced the problems of exploiting/motivating a dependent workforce
3. Towards the end of the 20th century, business management came to consist of six separate parts
4. More and more processes involve several categories.
5. Information technology management is responsible for management information systems.
6. Classical economists such as Adam Smith and John Stuart Mill provided a theoretical background to production, and pricing issues.
7. Many of these aspects of management existed in the slave-based sector of the US economy.

III. Fill in the gaps in the following sentences with the words from the Essential Vocabulary:
1. The __________ concept calls for heavy selling and promoting.
2. SWOT stands for strengths, weaknesses, opportunities and __________.
3. According to the definition, marketing begins and ends with the ___________.
4. At a particular stage of its life _________ a product attracts its customers.
5. The _________ side of the market is made up of sellers.
6. Buyers must have easy ___________ to information.
7. A ________ may result in laying off some employees.
8. In order to expand a business may __________ additional capital.

IV. Read the announcement about two major companies. Choose the best word to fill each space from the word below.
We are pleased to announce the (1) … between AST and Global Securities. This move brings together two major players in international finance. The combined (2) … of the new company will be in the region of $ 56 billion. Clearly, this will put us in a very strong position and will bring major benefits to our many investors. And with our new partner, we expect to see a steady increase in (3) … during the next five years. The new name of the (4) … will be AST-Global – a recognition of the contribution of both companies. Unfortunately, our (5) … to take over SemFin was rejected by the shareholders. However, have not given up and expect to make another attempt to buy up this global brand in the future.
1. a) fusion b) union c) merger d) combination
2. a) goods b) assets c) credits d) actives
3. a) liabilities b) incomings c) earning d) turnover
4. a) consortium b) mother c) branch d) subsidiary
5. a) proposition b) bid c) suggestion d) offering