The operation of an Economy (1)

Sun yijia

what is most important to you when choosing1. an impressive job title2. a good salary3. flexible working hours4. opportunities for promotions5. days off and longer holidays6. training and staff development7. a pension8. oppotunities to travel

listening • speaker1:• speaker2:• speaker3:• speaker4:• speaker5:

opportunity cost opportunity cost is the potential benefit that is

given up when one alternative is selected over another.

e.g.

opportunity cost is not usually entered in the accounting records of an organization, but it is a cost that must be considered in every decision a manager makes.

Sunk cost沉没成本A sunk cost is a cost that has already been inc

urred and that cannot be changed by any decision made now or in the future.

since sunk costs cannot be changed by any present or future decision, and therefore thay can, and should, be ignored when analyzing future courses of action.

Sunk costFor example:Assume that you has paid ￥ 50 for a movie ticket.

Since the cost outlay ( 花费） has been made, the ￥ 50 is a sunk cost. Because no matter how bad the movie is, the ￥ 50 is not able to be taken back. therefore, when you are making the decision for leaving or staying, the ￥ 50 costs are said to be sunk and should be ignored in decisions.

紧急需求Urgent wants生产资料Capital goods资本积累Capital accumulation

经济体制Economic system

Planned economy

Market economy

Economic system

An economy, or economic system, is the structure that a society uses in an attempt to satisfy as many as wants possible.

固定搭配力图；试图

social security低收入人群People with low incomes失业救济金Unemployment payment退休金pension

social security

医疗保险medicare工伤保险work-related injury insurance生育保险maternity insurance

专业化Specialisation社会财富重新分配Redistribute wealth相对价值Relative value

价格机制Price mechanism优先权priority

recipe

原料ingrediente.g. making breadingredient: flour ； yeast ； salt ; water

fertilize

1. 施肥 2. 受孕

dough生面团donut

framework

From wheat to bread sold in marketstage1:

land --------- plough the field

seeds --------- sow the wheat

fertiliser --------- fertilize

pestcide ---------- spray it to protect it from insects

labour ---------- harvest

framework Stage1

stage 2 flour ------ mill where it is ground into flour

transportation

transportationstage 3bread -------- bakerywarehouse

supermarketsliced & packaged & transported

transportation

mill

windmillThe Netherlands

Holland

Dutch

windmill

mill

watermill

specialisation

专业化practical benefits1. people can choose to do things that th

ey like or are good at.2. people get skills and experience throug

h repetition.3 it makes the society as a whole is more

productive.

specialisation

BUTIt brings a relationship called int

er-dependence( 相互依赖） .

bakery -- mill --- farmers--- firms

U.S.dollar & centspound & penceyuan & fenEuro (European Dollar)

Group presentation (50%)

1. "money make the mare go." What do you think this sentence?

2. specialization is a tendency in modern production, what are the advantages and disadvantages of it ?

listening key facts16,000,000,000 978,000,00016055,0001/2465,000,000,0002,000,000,0001906112,000,000,000

listening--planning a seminarbusiness circle conferencingname: Mr Ray_(1)_____________name of event:_(2)_______________________he can't come to the buffet on _(3)___________

_____because his train doesn't arrive until after (4)______________.please send the schedule to his email which is _(5)________________.

listening--planning a seminar note launching your business online3 pm ： security__(1)_______________

4:30pm: people with buffet arrive to _(2)_____.

____(3)_: i arrive

number of delegates : ______(4)_________

registration and buffer ends at about ___(5)__________.

listening--planning a seminar1. The buffet ______ ______ ______ up

until four thirty.2. I don't think anyone _____ _____ __

___ before five.3. i assum that we ______ ______ ____

_ bu nine.4. I hope they _____ _____ _______ by t

hen!

taking notes and messages

e.g. "hello,this james speaking and this is a message for lind

a." james called for linda. 1. "I'd be grateful if you could return this call on my home

number;" call him back _________.(4 words) 2." I'm calling to inform you that the next meeting is on th

e 23rd." please note _____________________.(8 words)

taking notes and messages

3. " would you mind checking and letting me know the final dates?"

please confirm _______________.(3 words) 4." i just wanted to say that i'm sorry for any conf

usion." he applogised __________.(3 words) 5." the clienty is asking if it would be possible to

put the meeting back." he called about postponing______.(2 words)

memo writing

you are a seminar( 研讨会） organiser. you want to check details for an event next week with your 2 assistants. write a email to your assistants. 40-50 words.

1. say which rooms you have booked for the event.

2. aks them to confirm the scheule with security.

3. explain that one participant will be late.

memo writing

From: XXXX Subject:confirmation of seminar details Date:XXXX To: Assistant seminar organisers

Please note that i have booked Room 101 and 102 for the seminar next week. I'd be grateful if you would now confirm this booking and the final schedule for the event with security. Also note that Mr Sun will be one hour late on the monday morning.