VOCABULARY PRACTICE

UNIT 9: TRADE

Part 1. VOCABULARY
I. Fill in the blanks with an appropriate word whose first letter has been given.
1. After receiving their Enquiry we sent them a q_________.
2. We have just received an i_________ for the goods we wanted.
3. Another word for “buy” is p_________.
4. A bill of lading and a letter of credit are d_________ in foreign trade.
5. Please inform us when the cargo arrives at its d_________.
6. We send a p_________ i_________ before making an order.
7. Our agents will f_________ the goods to you when they arrive.
8. It’s important to state the d_________ of each package on all the forms.
9. I’ve just heard that f_________ charges are going up.
10. That firm is our sole s_________ of these components.
11. They have added $50 for s_________ and handling.
12. When will you be able to d_________ the goods to us?
13. The r_________ price is 30% higher than the wholesale price.
14. Doing business on the phone with companies o_________ is very costly.
15. Before we can accept your order, we require a d_________ p_________ of 5% of the total price.
16. When fixing a price for an export order, the t_________ o_________ p_________ are very important.

II. Fill the gaps with suitable words from the list below.
backlog bill of exchange bill of lading bulky cash on delivery cash with order
crates deadline grade hold-up inventory(US)/stock(GB) margin
point of sale premium retail special delivery surcharge tender
triplicate value added tax volume wholesale
1. The profit made on a product vary according to the _________ of sales and there is not normally a fixed profit
_________ on the unit price.
2. If you buy something by mail order it’s normal to pay CWO (_________) rather than COD (_________).
3. What’s the difference between a B/L (_________) and a B/E (_________)?
4. The _________ price of this product at the _________ (i.e. in the shops) is ₤13.99, incl. VAT (_________) –
about 60% more than the _________ price.
5. As we have been carrying out a(n) _________ control, there is a _________ in processing orders. We apologize
for any inconvenience caused by this _________.
6. As part of the consignment is very urgent, we’ll be making a _________ of two of the twenty _________ you
have ordered.
7. We only supply _________ one product of _________ quality. Very _________ consignments are shipped by
sea. There is no _________ for small orders.
8. They submitted a _________ in _________, in accordance with our instructions, but it arrived after the
_________.

III. Fill the gaps in these sentences with a suitable word + preposition. The list of words is given
below, think of the suitable prepositions to follow.
call capable collaborate comment compensate comply
consist convince cooperate cope credit cut
1. I’ll be ______ ______ you when I’m next in town.
2. If you suffer any loss, we will ______ you _____that.
3. He was unable to ______ ______ the extra work and became ill.
4. I’m afraid I can’t ______ ______ another department’s work.
5. As you appear to have been overcharged, we will ______ your account _____ the sum of 600.000yuan.
6. It’s important to ______ ______ any special customs regulations.
7. All members of a team must ______ ______ each other.
8. We’ve been ______ ______ our partners in the USA for several years.
9. Due to filling sales, the company has ______ ______ its R&D program.
10. They’re ______ ______ doing a much better job than that.
11. The cargo ______ ______ four one-ton crates.
12. They shouldn’t ______ them _______the need to redesign the product.

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Part 2: READING COMPREHENSION
TRADE AND TECHNOLOGY
A. _________ From the Spice Islands of Indonesia, they were shipped around the coast of India to the upper
limits of the Persian gulf or Red Sea. From there they travelled overland by caravan to Mediterranean ports such
as Alexandria. Italian merchants, who had a virtual monopoly of Mediterranean trade, carried them to other
markets. In 1497 the Portuguese navigator Vasco da Gama discovered a less costly sea route to the east by
following the African coast round the Cape of Good Hope. Thereafter merchant vessels followed the Cape route
and were able to bring spices and silk to Europe more cheaply than before.
B. _________ Great engineering projects like the Suez and Panama canals greatly reduced sailing times.
Breakthroughs in transport and dockside technology, and the development of a commercial infrastructure have
also played a vital role. Specially adapted vessels can transport perishable goods around the world cheaply.
Nowadays, British families think nothing of a Sunday lunch of New Zealand lamb and green beans - airlifted from
Kenya - with a 'New World' wine.
C. _________ A modem petrol tanker could swallow a fleet of sailing ships in its hold. And until fifty years ago,
vessels spent weeks in port being unloaded. Containers have changed all this. Giant cranes can empty a container
ship in hours. Transportation costs per unit are now so negligible that big brands can have their goods made in
lower-cost economies. And doing business internationally is far less uncertain than it once was. Developments in
international banking and marine insurance, mean that voyages can be financed and underwritten more smoothly.
D. _________ Historically, none is more famous than the Silk Road which stretched from the far side of China to
Byzantium. For much of its 4000 miles, what could be carried by camel determined what was traded. Nowadays,
the term 'Silk Road' is used as a metaphor to describe the far reach of the Internet. Yet there is a key difference:
hardly anyone travelled the length of its ancient namesake. Instead goods were relayed from station to station,
each merchant taking his profit. By contrast, this new, virtual Silk Road allows direct contact between supplier and
customer and dramatically reduces transaction time and cost.
E. _________ This may explain the backlash experienced by many dot.coms. Tangible goods still need to travel to
the customer. Nevertheless, the digital Silk Road has been instrumental in the development of a virtual or
'weightless' economy. Unlike the transportation of tangible products, banking services, education, and data
processing can be transported invisibly over the Net. This has seen activity boom in previously unlikely areas. In
India, Bangalore's progress has been outstanding. It has rapidly become India's silicon state and could overtake
Silicon Valley as the world's leading software provider - another example of a new route changing how, and with
whom, we do business.

I. Read the text, then complete paragraphs A-E in the text with their initial sentences 1-5.
1. Vessels have become bigger and safer making voyages less hazardous . _________
2. Despite this growth in e-commerce, the Internet has facilitated, rather than replaced, the old economy.
_________
3. In the Middle Ages, oriental spices such as pepper and cloves were the centre of a highly lucrative trade.
_________
4. In addition to maritime trade, overland routes have also been important. _________
5. Indeed, throughout history, the evolution of trade has depended on the discovery or creation of new trading
routes. _________

II. Find the words in the text which match the definitions.
1. a general name for any ship that floats on the sea: v_________
2. a large metal box used to transport goods: c_________
3. a machine used for lifting: c_________
4. the place on a ship where cargo is often stored: h_________
5. a line of camels travelling across the desert: r_________

III. Complete each gap with a word to combine with the word in italics to form another word.
1. Our project has been _________written by two of the largest insurance companies in the world.
2. The hippy trail went ________land to Afghanistan.
3. There has been an important _________through in negotiations.
4. The company has produced _________standing profits for three years running.
5. Since the crash there has been a _________lash affecting high-tech companies.

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