Establecer la oferta y la demanda a través del

sistema de información de mercados - Compresión de lectura en Ingles

Amparo Montaño Rodríguez

CC: 52.557.475

Servicio Nacional de Aprendizaje

Tecnología en Gestión de Mercados

Bogotá

2021
1. Match the Word with the corresponding meaning:

a. Supply (c)Expensive

b. Demand (b)Desire to buy any product

c. High price (d)All people

d. Mass market (e)The of goods and services

e. Life cycle (a)Disposition to offer

2. According to the text, mention the things people take into account to determine

the demand.

 Tastes or preferences

 Number of consumers

 Income

 Consumer expectations

 Price of related goods

3. Write F for false or T for true

a. Production cost depends on Technology

F ( ) V (X)

b. As greater the expectations are, the lower will be the offer from the companies.

F (X) V ( )

c. One of the four Ps of marketing mix is Package

F ( X) V ( )

d. Price is the amount a customer pays for the product

F ( ) V (X)

e. Planning is to transform and develop marketing objectives to marketing

strategies

F ( ) V (X)

4. Answer the following questions

a. What is Benchmarking?

"Benchmarking is the practice of comparing business processes and performance metrics to

industry bests and best practices from other companies. Dimensions typically measured are

quality, time and cost. ".

b. What is the process of Benchmarking?

"Process of Benchmarking is used to measure performance using a specific indicator (cost

per unit of measure, productivity per unit of measure, cycle time of x per unit of measure or

defects per unit of measure) resulting in a metric of performance that is then compared to

others."

c. Number the aspects to be taken into account in Benchmarking:

• Cost per unit of measure

• Productivity per unit of measure

• Cycle time of x per unit of measure or defects per unit of measure

6. Write the vocabulary (20 words) from the reading, and make a Glossary:

Organize the words in alphabetic order and write the meaning of each word.

1) Advertisement: One published in the press or broadcast over the air

2) Client: a person served by or utilizing the services of a social agency

3) Company: An association of persons for carrying on a commercial or industrial

enterprise

4) Consumer: One that utilizes economic goods

5) Cost: The amount or equivalent paid or charged for something

6) Defect: An imperfection or abnormality that impairs quality, function, or utility

7) Discount: A reduction made from a regular or list price

8) Goods: Merchandise or possessions.

9) Income: A gain or recurrent benefit usually measured in money that derives from

capital or labor

10) Life time:The duration of a thing's existence or usefulness.

11) Marketing: The action or business of promoting and selling products or services,

including market research and advertising

12) Measure: Ascertain the size, amount, or degree of (something) by using an

instrument or device marked in standard units.

13) Merchandise: Goods to be bought and sold.

14) Price: The amount of money expected, required, or given in payment for something.

15) Process: A series of actions or steps taken in order to achieve a particular end.

16) Productivity: The state or quality of being productive

17) Production: The action of making or manufacturing from components or raw

materials, or the process of being so manufactured.

18) Quality: The standard of something as measured against other things of a similar

kind; the degree of excellence of something

19) Revenue: Income, especially when of an organization and of a substantial nature

20) Technology: The application of scientific knowledge for practical purposes,

especially in industry.

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

In any business having knowledge about the rules that govern the offer and demand it is

very crucial for success. Tastes or preferences, number of consumers, income, consumer

expectations and price of related goods are the more important aspects to consider in terms

of deterring the demand of products. Benchmarking is the process of comparing business

processes and performance metrics to industry bests and best practices from other

companies. Dimensions typically measured are quality, time and cost. Process of

Benchmarking is used to measure performance using a specific indicator (cost per unit of

measure, productivity per unit of measure, cycle time of x per unit of measure or defects

per unit of measure) resulting in a metric of performance that is then compared to others. In
conclusion, It is very important to know about offer and demand and how to calculate them

in order to be a successful entrepreneur.

 Referencias

Benchmarking. Recuperado de: https://en.wikipedia.org/wiki/Benchmarking

Glosario de contabilidad Ley de la oferta y la demanda. Recuperado de:

https://debitoor.es/glosario/definicion-ley-oferta-demanda

¿Qué es la oferta y la demanda? Recuperado de: https://www.elblogsalmon.com/conceptos-

de-economia/que-es-la-oferta-y-la-demanda