AP04-EV04- INGLES: "Taller de compression de lectura".

Juan José Diaz Villalobos

2348817
-

Servicio Nacional De Aprendizaje – Sena

Centro de servicios financieros
Gestión de mercados – Tecnólogo

Instructor

Ligia Leonor León Mora

10 noviembre de 2021
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Table of contents

Match the Word with the corresponding meaning

2
According to the text, mention the things people take into account to determine the
demand.
2
Write F for false or T for true
2
Answer the following questions
3
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.
5
Write a ten lines text that summarizes the topic of the activity
6
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Lea con atención el texto “Supply and Demand”, que se encuentra en el objeto de
aprendizaje de la Actividad de Proyecto 4, y conteste:

1. Match the Word with the corresponding meaning:

a. Supply
b. Demand
c. High price
d. Mass market
e. Life cycle

_c_ Expensive.

_b_ Desire to buy any product.

_d_ All people.

_e_ The lifetime of goods and services.

_a_ Disposition to offer products.

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

a. Tastes or preferences Consumers may demand for an item one year and ignore it
the next.
b. Number of consumers A large quantity of buyers carries to an increase in
demand; a small quantity of buyers carries to a decrease (Franny Chan website).
c. Income When income rises, the quantity demanded will rise too. When income
falls, the demand of that product will fall too (Franny Chan website).
d. Consumer expectations Purchasers are interested in satisfying their consumption
regarding quality as the most important factor. Likewise, the lead price has an
effect on the potential increase of the consumer´s final decision.
e. Price of related goods There are two kinds of related goods that can affect the
demand: substitutes (for example, butter and margarine) and complementary (toys
and batteries).

3. Write F for false or T for true

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a. Production cost depends on Technology

F ( ) T ( x)

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

F ( ) T (x )

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

F ( ) T (x )

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

F ( ) T ( x)

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

F ( ) T (x )

4. Answer the following questions

a. What is Benchmarking?

Benchmarking is the procedure of determining who the best one is. It is an amount of the
quality of company’s products, policies, programs, tactics, etc., and their contrast with
standard measurements, or similar amounts of others.

It is, also, the continuous systematic process for evaluating the companies that are
recognized as best-in-class, for the following purposes:

• Establishing priorities, target, goals

• Developing product and process objectives

• Meeting or surprising industry best practices

b. What is the process of Benchmarking?

Process of benchmarking Competition and its main aspects In benchmarking, it is

necessary to take into account the next aspects:
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1. Planning It is the plan for running the benchmarking investigation.

2. Analysis After analyzing the information, it obtains a basis for comparison.

3. Integration Develop aims and incorporate them into the benchmarked process.

4. Action It refers to the action plans necessary to achieve the objectives decided in step

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

In benchmarking, it is necessary to take into account the next aspects:

Product
It is the thing produced by labor or effort.

Price
It refers to the quantity of payment or compensation given by one party to another in
return for goods or services.

Sales systems
It is a set of principles, processes, strategies and tools that are put into place to bring the
company results day-in and day-out.

Payment systems
It is used for transferring money include debit cards, credit cards, and e-commerce
payment systems.

Advertising
It is a form of communication used to encourage or persuade an audience to continue or
take some new action.

Promotion
It refers to the communications with the public in an attempt to influence them toward
buying your products and/ or services.

Location
It is a place where something is or could be located.

Organization
It is a social unit of people systematically structured and managed to meet a need or to
pursue collective goals on a continuing basis.

Planimetry
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It is the measurement of plane surfaces; for example, the determination of, angles,
horizontal distances and areas on a map.

5. 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.

Aims: End to be achieved and to which an action is directed.

Benchmarking: it is a benchmark against which companies compare some of their areas.

Bring: Bring a person or thing to the place where the speaker is.

Each: Designate one by one all the elements of a set or series.

Encourage: Give a person encouragement or energy to continue a struggle or task.

Goals: End to which the actions or desires of a person are directed.

Greater: Which is bigger (in size, intensity, importance, etc.) than another.

Increase: Make something greater in quantity, size, intensity, importance, etc.

Meeting: Agreement or commitment between two or more people about the place, day
and time they will meet to see each other or discuss a matter

Measurements: Measure resulting from this action.

Packaging: Box or any wrapping with which an object to be transported is protected.

Persuade: Get with reasons and arguments that a person acts or thinks in a certain way.

Planimetry: Part of the topography that deals with the measurement and representation of
a portion of the earth's surface on a flat surface.

Purposes: Firm determination to do something.

Pursue: Following a fleeing person or animal, with the intention of reaching it.

Quantity: Aspect or characteristic of things by virtue of which they are countable or

measurable.

Related: Establish a relationship or correspondence between things or people.

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Surprise: Emotional disturbance caused by something unforeseen or unexpected.

Toward: It indicates the direction of a movement, physical or immaterial, in relation to a

point to which it is directed or to a state or an objective or to which it tends.

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

Supply and demand is perhaps one of the most fundamental concepts in economics and is
the backbone of a market economy. Demand refers to the quantity (quantity) of a product
or service that buyers want to purchase. The quantity demanded is the quantity of a
product that people are willing to buy at a certain price; the relationship between price
and quantity demanded is known as the demand relationship. The offer represents how
much the market can offer. The quantity supplied refers to the quantity of a certain good
that producers are willing to offer when they receive a certain price. The correlation
between the price and the quantity of a good or service that is supplied to the market is
known as the supply relationship. Price, therefore, is a reflection of supply and demand.
The relationship between supply and demand underlies the forces behind resource
allocation. In market economy theories, the theory of supply and demand will allocate
resources as efficiently as possible. How? Let's take a closer look at the law of demand
and the law of supply.