Booklet 4th Advanced 2023+ Modalidad de Trabajo 2023

E.S.P.
BOOKLET
4th year - ADVANCED

Escuela Superior de Comercio
“Libertador Gral. San Martín”
Departamento de Lenguas
Inglés-4º AÑO - Avanzado
Profesora:
Contenidos:
● 1º Cuatrimestre: Libro: High Note 3 Units 4 & 5 - ESP Booklet Units 1-2-3
● 2º Cuatrimestre: Libro: High Note 3 Units 5 & 6 - ESP Booklet Units 4-5
Libros: High Note 3 (Ed. Pearson) Student’s Book y Workbook
Materiales:
* Cuadernillo: ESP Booklet Units 1-2-3-4-5
* Aula Virtual Comunidades UNR
Pautas de trabajo ciclo lectivo 2023:
● Se deberá concurrir a la clase con el material de trabajo solicitado (carpeta, libros, fotocopias,
cuadernillos, etc).
● Los trabajos prácticos y/o tareas asignadas (en el aula o a través del aula virtual) deberán ser
presentados en tiempo y forma (no serán aceptados fuera de término sin que medie justificación y
serán corregidos pero no calificados).
● Los trabajos deberán entregarse siempre escritos en tinta o en computadora (todo trabajo entregado
en lápiz no se corregirá). Las evaluaciones se realizarán en letra legible y con birome.
● La ausencia a evaluaciones u otras instancias de evaluación pautadas previamente (TP, lecciones
orales, etc.) deberá ser justificada según las normas del establecimiento y comunicada al docente
oportunamente.
● En caso de ausencia, a la clase siguiente se deberá traer carpeta completa y tarea resuelta.
● El alumno dispondrá de clases de consulta de carácter opcional con la adscripta al departamento.
Deberá consultar personalmente los horarios disponibles en el Departamento de Lenguas.
● No se tomarán recuperatorios.
● Utilizar el idioma inglés durante la clase.
● Participación activa, esfuerzo, responsabilidad, interés demostrado, respeto, orden y prolijidad.
● Contribuir al orden con una conducta correcta y respetuosa prestando atención a las explicaciones de la
profesora.
Instrumentos de evaluación:
● Entrega de trabajos y tareas en tiempo y forma

● Trabajos prácticos individuales y/o grupales
● Evaluaciones de unidad
● Expresión oral y escrita
● Ortografía
● Evaluación cuatrimestral (esta nota no define la calificación final sino que se promediará
con el resto de las notas obtenidas durante el cuatrimestre).
● Dos evaluaciones escritas como mínimo por cuatrimestre
● Trabajo y participación en clase
● Actividades completas en el libro y ficha.
● Realización y aprobación de un mínimo del 75% de las propuestas en el aula virtual.
● Trabajo de clase: cumplimiento en relación con el material de trabajo áulico, participación,
esfuerzo realizado, interés demostrado, respeto, puntualidad, prolijidad, etc.
………………………………………….. ………………………………………………..
Firma del alumno Firma del padre, madre o tutor
…………………………………………….. Fecha de notificación ........................................................ 2023

Firma del docente
Departamento de Lenguas: Inglés
BUSINESS BOOKLET - 4th YEAR - ADVANCED
1) WAYS OF PAYMENT
1. Read the text carefully and do the exercises below.
When we make a purchase, we must pay for the goods

we buy. How can we pay? You have to know how to
spend your money on, and also the methods you can
choose to pay. With all of the options for making
purchases and payments, it can be difficult to know
which payment method to choose and if there’s a
“best” way to pay for things.
1. TO PAY CASH: to pay at the moment the purchase is made
To pay cash ≠ to pay on credit Instalment: sum we periodically when we pay on credit (to pay
in instalments)
2. TO PAY IN CASH: to pay with money (banknotes and coins). It´s the most commonly used payment
type for everyday purchases. Using it couldn’t be simpler. It’s almost always used face-to-face and you
can physically see the money being handed over (and get any change straight away too).
To pay in cash ≠ to pay with a document
Advantages: Using cash can be a great way to avoid overspending. You can choose exactly how much
you’re willing to spend and carry that amount with you, then (1) stop spending when your wallet is
empty.
Disadvantages: For some people, cash can “burn a hole” in their wallets: the temptation can lead to
undesired spending.
Need cash?
 Cash machine (also known as an ATM): A self-service machine allowing cardholders with a PIN
(Personal Identification Number) to withdraw cash from their account. Besides (2) withdrawals,
other services – such as checking your balance or paying bills and taxes – are also available on
cash machines.
 Cashback: When purchasing goods with a debit card, some retailers (generally supermarkets or
petrol stations), offer a cashback service. This enables a customer to add a cash value to the
transaction and obtain the cash at the checkout, as an alternative to using a cash machine. The
transaction value and the cash value will be debited directly from the cardholder’s bank account.
Cashback is only available on debit cards.
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3. TO PAY USING A CREDIT CARD: A credit card is used to buy
goods or services on credit. When you use a credit card to buy
things, you are borrowing money from the credit card company
who will have advised you of your credit limit – the maximum
amount you can borrow. You’ll have to repay the money and pay
any interest due. If you pay your bill off in full each month, you
won’t pay any interest.
Advantages: For certain purchases, credit cards may be convenient or even necessary. For some
purchases, you may be required to use a card – like booking a hotel room or renting a car in advance.
Many credit cards offer rewards programmes. You are also protected if your credit card is stolen.
Disadvantages: Some businesses charge extra fees for credit card payments. Some shops enforce a
minimum credit card purchase. Banks charge businesses a fee when customers pay with a credit card so
many businesses set a minimum amount for credit card purchases.
4. TO PAY USING A DEBIT CARD: A debit card is linked to your current or savings account and is used to
pay for goods and services in your country, abroad and online. The amount of the purchase is debited
from your available balance on the same day. However (3) it can
sometimes take a few days for the funds to be debited from your
account. Debit cards also allow you to withdraw money at cash machines
or get cashback in shops that offer that service.
Advantages: Like credit cards, debit cards can be used to pay for things in
cases where cash is not accepted. The money you spend comes directly out of your savings account,
making it a great way to avoid spending more money than you have available.
Disadvantages: Pay attention to the balance before using your debit card. If you try to spend more than
you have, your purchase may be declined.
5. TO PAY BY CHEQUES (BrE) / CHECKS (AmE)
CHEQUE: a written order, usually on a standard printed form, directing a bank

to pay money. It is used instead of money to pay for things. (To pay BY
cheque/check). When you open a bank account you may be given a
chequebook which contains a number of cheques. Each cheque will already
be printed with your bank sort code and account number, your bank’s name and address and a unique
cheque number.
Advantages: It’s more convenient than carrying cash around. One does not have to count notes and risk
making counting mistakes. Cheques are traceable. They are easy to follow or locate. Cheques are safer if
crossed. They can be post dated.
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Disadvantages: They may be valueless if the drawer has no funds in his/her account. Depositing cheques
into an account is time consuming. People without bank accounts will be inconvenienced by crossed
cheques.
CHARACTERISTICS OF A CHEQUE
A cheque is an order of payment to order (to be paid only to a specific payee) or to bearer (payable to
the holder or presenter). It is a negotiable document. It can be endorsed and thus (4) transferred to a
third party.
When we pay with a cheque we fill in the counterfoil with the receiver’s name, the date and the amount
of money as a record of payment.
PARTIES TO A CHEQUE:
There are 3 parties to a cheque:
1- DRAWER: party who signs the cheque.
2- DRAWEE: party that must pay the cheque (the bank)
3- PAYEE: the person to whom the cheque must be paid.
KINDS OF CHEQUES:
 Order cheque: It contains the payee’s name. It must be endorsed so that it may be cashed or
deposited.
 Bearer cheque: It doesn’t contain the payee’s name. It is paid to the person presenting it.
 Crossed cheque: It can’t be cashed. It must be deposited in a current account or savings account.
6. PROMISSORY NOTE (PN): It’s a written promise of payment. This document is usually negotiable and
contains a signed promise to pay a stated sum of money to a particular person at a designated date or
on demand.
There are two parties to a PN:
MAKER: party who signs the PN
PAYEE: Person who receives the money
7. NEW PAYMENT OPTIONS: These days you may be able to pay for a purchase using your smartphone –
some phones allow you to buy things by tapping your phone on a terminal checkout. Another popular
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option is payment via apps, digital wallets or other programmes. These payment methods usually link to
your credit card, debit card or your bank account.
A- Multiple choice.
1- You want to use money from your savings account to make a purchase. Which payment method
should you use?
a- credit card b- cheque c- debit card
2- You want to use money from your current account to make a purchase. Which payment method
should you use?
a- credit card b- cheque c- debit card
3- What is the best strategy for avoiding credit card interest?
a- pay the full balance each month. b- pay the minimum balance. c- skip payments.
4- Which of the following is the best reason to use cash for purchases?
a- getting more cash from the ATM is easy to do.
b- losing it won’t be a big deal.
c- keeping track of how much you have spent is simple.
5- The person named in the cheque to whom the money is to be paid is known as ______
a- Drawer b- Drawee c- Payee
B) Circle the meaning of the following connectors:
1- Then: EXAMPLE SEQUENCE
2- Besides: ADDITION CONTRAST
3- However: CONTRAST CAUSE
4- Thus: ADDITION RESULT
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C) Crossword puzzle:
WAYS OF PAYMENT
ACROSS:
5- A document that contains a promise to pay a stated amount to a stated person.

6- A person who buys goods or a service.
7- Money that is charged by a bank or other financial organization for borrowing money.
9- The act of buying something.
10- One of a number of parts into which an amount of money that is owed has been divided
DOWN:
1- A cheque to someone who has then written another person’s name on it so that they can receive the
money instead.
2- A small, folding case for paper money, credit cards, and coins.
3- The money that is returned to someone who has paid for something that costs less than the amount
that they gave.
4- The amount of money you have in a bank account.
6- An amount of money that a shop, usually a supermarket, allows you to take from your bank account
when you pay for something with a bank card.
8- To take money out of an account.
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2) TYPES OF BUSINESS
ORGANIZATIONS
1. Look at this meme and answer: What type of business organization is represented? Talk together
with your classmate about what the meme is telling us about this type of business organization.
Share your ideas with the rest of the class.
1. Read the text carefully and do the exercises below.
When you start a business, you have a choice as to how the ownership is legally
organized. Business ownership can take one of three legal forms: sole proprietorship,
partnership, or corporation. It is important to select the most appropriate form of
ownership that best suits your needs and the needs of your business.
SOLE PROPRIETORSHIP
The word sole means “single” or “one”. The word proprietor means “owner”. A
sole proprietorship, therefore (1), is a business owned by one person. The sole
proprietorship is the oldest and most common form of business ownership.
Most sole proprietorships are small-business operations, each owned by an

individual. An individual who starts a business is known as entrepreneur. Many of
these businesses provide services, such as auto repair, house cleaning, carpentry, or plumbing. They generally
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operate out of homes, small offices, or storefronts. Some sole proprietorships become quite successful, but many
go out of business.
ADVANTAGES OF SOLE PROPRIETORSHIP

Organizing a business as a sole proprietorship has several advantages. The most important advantage is having
the freedom to make all the decisions. Besides (2), you receive all profits. This type of business has easy set-up,
simple licensing and paperwork, and few government regulations.
1- Easy Set-Up. A sole proprietorship is the easiest form of business organization to set up. It does take some
effort, but because a minimal amount of documentation is required, the cost of organizing a sole proprietorship is
relatively low.
2- Employees. You can hire one or more employees to work in your business. Some large companies, which are
also organized as sole proprietorships, have a lot of employees.
3- Total control. As a sole proprietor, you can run your business as you wish. You can choose what merchandise to
sell or services to provide, what prices to charge, and what hours you will work.
4- Profits to owner. When your business makes a profit, you can keep it all (after you pay taxes). As your business
grows and becomes more successful, you will receive larger profits.
DISADVANTAGES OF SOLE PROPRIETORSHIP

With most choices people make, there is a positive side and a negative side. Although (3) organizing your business
as a sole proprietorship has definite advantages, this form of business organization also has several drawbacks:
1- Limited capital. When you start a sole proprietorship, the only source of working capital, besides money you
borrow, is your own money. Moreover (4), the amount of cash available to you may be limited. Without a
sufficient amount of money to establish the business, begin operations, and expand, you could have serious
difficulties.
2- Unlimited liability. A major disadvantage is that if your business is not successful you are responsible for all
losses. Unlimited liability is a situation in which the owner of the business is responsible to pay the business debts
out of personal assets. In other words, if your business is unsuccessful, you could lose your car, home, savings,
and other assets.
3- Limited Human Resources. An advantage of a sole proprietorship is that you are the only decision maker in the
business. However, being the only person in charge can also be a disadvantage. When you are the sole owner of
the business, you cannot rely on other individuals to help carry the load (accounting, advertising, marketing,
purchasing, etc.)
4- Limited life. A sole proprietorship has a limited life, a situation in which a business’s life span or existence is
determined by the owner’s life span or the owner’s decision to terminate the business. The business may also
legally end if sold to someone else.
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A) Are the following statements True or False? Correct the false ones.
1- Sole proprietorship is a business organization owned by one individual or more.
………………………………………………………………………………………………………………………………………………………………………………..
2- A sole proprietor is in direct control of the organization.
………………………………………………………………………………………………………………………………………………………………………………..
3- A sole proprietor may have difficulties in raising capital.
………………………………………………………………………………………………………………………………………………………………………………..
4- If the business is not successful, the owner loses only the money invested.
………………………………………………………………………………………………………………………………………………………………………………..
B) Circle the meaning of the following connectors:
1- Therefore: RESULT CONTRAST
2- Besides: CONDITION ADDITION
3- Although: CONTRAST EXAMPLE
4- Moreover: REASON ADDITION
2. Now read about partnerships and do exercises a) and b).
THE PARTNERSHIP
A partnership is a business owned by two or more people. Partners as co-owners
agree voluntarily to operate the business for profit. When a partnership is formed,
the partners sign a special legal agreement: a partnership agreement.
In a partnership you and your co-workers decide how to divide profits and losses
from the business. You also outline the duties and responsibilities of each partner. All
partners must agree to the conditions stated in the partnership agreement.
ADVANTAGES OF PARTNERSHIPS
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1- Easy Set-Up: A partnership is relatively easy to set up. Although some paperwork is required, it (1) is generally
minimal. The most important legal document of a partnership is the partnership agreement. All the terms and
conditions of the partnership must be clearly stated in it (2). Taking care to make the agreement as complete and
clear as possible can help you to avoid misunderstandings between partners as the business grows.
2- More Skills and Knowledge: The various partners can contribute different skills and
experience.
3- Available Capital: Several individuals in a business partnership can contribute more

money to a business venture than one person acting alone with only personal assets.
Obtaining bank financing may be more feasible when more than one individual is
responsible for the loan. Banks may also be more willing to loan greater sums of
money to a partnership than to a sole proprietorship because the risk is shared among the partners.
4- Total control by partners: In a partnership the operation of the business is the sole responsibility of the
partners.
DISADVANTAGES OF PARTNERSHIPS
1- Unlimited liability: If the partnership loses money or has financial problems, each
co-owner is personally responsible for all of the debts of the business. They are
responsible for paying the bills out of their (3) personal assets.
2-Disagreement among partners: When several people manage a business, they

may not always agree on important business decisions.
3- Shared profits: Hard work on your part may be the crucial factor in the success of the business. Nevertheless,
you still have to share the profits with your partners.
4- Limited life: The life of a partnership depends on the willingness and ability of the partners to continue in
business together.
A- What do the underlined words refer to?
1- it: ……………………………………………..
2- it: ……………………………………………..
3- their: …………………………………………….
B- Find a word that means:
1- Money that is earned in business (Introduction) ……………………………….
2- A decision, often formal and written, between two or more people (Introduction) ………………………………..
3- Very small (Advantages) …………………………………
4- To try to prevent something bad from happening (Advantages) …………………………………….
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5- Something having value, such as a possession or property, which is owned by a person, business, or
organization. (Disadvantages) ……………………………………..
THE CORPORATION
You have probably heard about the word corporation. A number of large corporations exist globally, such as
General Motors, Sony, Hewlett-Packard, Motorola and Goodyear. A corporation is a form of business organization
that is created by law, functions as a separate legal entity, and is owned by two or more individuals called
stockholders. Stockholders are at risk only for the shares of stock bought. Stockholders are the legal owners of
the corporation. Each stockholder receives a stock certificate, which is a document that is proof of ownership.
ADVANTAGES OF CORPORATIONS
1- Ability to raise capital: If the corporation needs money for growth, expansion, or other purposes, the company
can sell additional shares of stock to raise the necessary funds.
2- Limited liability: A great advantage to the stockholders, or owners, of a corporation is that they have limited
liability. This means that if the corporation has debts or financial problems, the owners may lose only the amount
of their investment – the price they paid for their stock.
3- Continued Life: When a sole proprietor retires, dies, or sells his or her business to someone else, that business
ceases to exist. In a corporation, however, a change of owners does not end the legal operation of the business.
Stockholders may enter or leave at any time without affecting the existence of the corporation. Its legal status as
a business continues indefinitely.
4- Separation of Ownership and Management: The owners do not run the business in most corporations. Instead,
they elect a board of directors, a group of individuals who are responsible for overseeing the general affairs of the
corporation. Corporate officers and professional managers are hired to make day-to-day decisions in running the
business. Other specialists, such as lawyers and accountants, advise the professional managers.
DISADVANTAGES OF CORPORATIONS
1- Complex and Expensive Set-Up: A great deal of work is required to create a corporation. You must complete
many forms, file reports, and adhere to many laws and regulations.
2- Slow Decision-Making Process: In corporations, especially large ones, many different people study the issues
and discuss and debate them before making a decision.
3. Are the following statements True or False? Correct the false ones.
1- The corporation is a legal form of business ownership.
2- Shareholders have unlimited liability.
3- Ultimate control of a corporation rests with the shareholders.
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4- Creating a corporation is harder than creating a partnership.
THINK CRITICALLY
FRANCHISE
Is a franchise a form of business ownership?
A franchise is not a form of business ownership, but it is important to
understand its legal status. A franchise is a contractual agreement to sell a
company’s products or services in a designated geographic area. Franchises
are very popular in fast-food businesses, such as Mc Donald’s, Subway,
Burger King, all of which have franchises.
If you start a franchise, you first organize your business as a sole proprietorship, partnership, corporation, or
limited liability company. You then purchase a franchise from a corporation, such as Burger King. This corporation
is known as a parent corporation. You are now licensed, and the franchise is an asset of your business.
Two levels of people are involved in a franchise system: (1) the franchisor, who establishes the brand’s trademark
or trade name and a business system; and (2) the franchisee, who pays an initial fee and royalties for the right to
do business under the franchisor's name and system.
Some of the more common services that franchisors provide to franchisees include: a recognized brand name,
training for you and your management team, research and development of new products and services, initial and
continuing marketing and advertising.
ANALIZE
What kind of business would you start with a partner? With another student, choose a business and discuss
how you would share responsibilities if you started a partnership together. Ask: What ways might you finance
the business? What skills do each of you have that might complement each other in a partnership?
7. Business Advice: Read this situation and answer the question below. Include the appropriate
advice for this particular case.
Scenario #1: Luke, Austin, and R.J. have been close friends since high school, and even went to college
together. All three graduated last year; Luke with a degree in Computer Science, Austin with a degree in
Graphic Design, and R.J. with a degree in Business Administration. All three self-proclaimed “computer
geeks” and have worked part-time through high school and college fixing computer problems. Each has
approximately $50,000 in savings for this business venture. They have been talking about starting a
computer company in their local town to help businesses and individuals with computer problems or
those who need help developing and designing web sites. In doing research, Justin found that there are
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only two other computer companies in their town of 100,000 people, and neither one will do both web
design and computer hardware/software troubleshooting.
What type of business organization should Luke, Austin, and R.J. adopt? Why?
3) BANKS
1. Look at these bank logos and answer the questions:
 Which of these banks are located

in your city/country?
 Are they local or international
banks?
 Which ones do you suppose are
the most important?
 Do your parents have accounts in
any of these banks?
2. Read the text and find the types of banks described. What's the difference between them?
1) __ __ __ __ __ __ __ __
2) __ __ __ __ __ __ __ __ __ __
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BANKS
In the past, banks were safe places where to

deposit your money to protect it from any
risk. But is that the only service we get from
them nowadays?
Banks are places where people can keep their money.

Most people use banks to save money in their savings accounts and to pay money from their checking
accounts. Banks are large institutions which deal with several aspects of the economy of countries,
individuals and monetary systems.
Not all banks offer the same products and deal with the same type of customers. They are categorized
according to the products they offer and the target they aim at. In some cases there are banks that offer
services to both. Banks can be classified into:
 Commercial banks
 Merchant banks.
Commercial banks sometimes called Clearing banks. Commercial Reminder!

banks deal with individuals and they give people the possibility of fee: amount of money paid for professional
saving or investing money. They provide banking services such as: services.(a doctor’s fee- a lawyer’s fee)
salary: money that you receive as payment
1) accepting deposits either in current accounts or savings accounts. from the organization you work for, usually
When you open a current account the bank gives you a chequebook. paid to you monthly.
wage: money you earn that is paid according
You can draw a cheque to pay without the risk of using cash. When
to the number of hours, days or weeks that
you have a current or savings account you become a bank client and you work.
you are entitled to several privileges, for example: You can ask the ATM: Automatic Teller Machine
bank to give you a credit card.
2) granting loans (loan: amount of money you borrow from a bank)
3) issuing credit cards and ATM cards (debit cards)
4) payment of fees, salaries and wages into the workers’ accounts.
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Then workers can get their money using their ATM cards.
Merchant banks give similar services not to individual

customers but to companies or corporate customers. They
offer:
1) Stockbroking and portfolio management services
stockbroking: the act of buying and selling shares, bonds and

funds for people.
portfolio: the total holding of the securities, stocks and commercial papers owned by a private investor
or a financial institution.
2) Mergers, takeovers and acquisitions are handled by this type of banks
merger: the combination of two or more business enterprises into a single enterprise.
takeover: when one company takes

control of another by buying more
than a half its shares.
acquisition: something that you

have obtained by buying it
3) They provide financial advice

too.
Banks make a profit from the

differential between the interest
rates they pay on deposits and
those they charge on loans.
3. Complete the spider web with the different services offered by these banks.
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4. Translate.
a. to provide ________________________
b. to grant ________________________
c. a grant ________________________
d. merchant ________________________
e. a take-over ________________________
f. a merger ________________________
5. Are these sentences True or False? Underline the justifications in the text.
1. Nowadays banks offer services similar to those offered by banks in the past.
2. Banks usually offer the same products and deal with the same type of customers.
3. You can open a savings account and deposit money in an ATM.
4. People can pay gas and electricity in commercial banks.
5. Employers usually deposit worker’s salaries and wages in merchant banks.
6. Merchant banks offer services such as buying or selling stocks.
6. Complete the text using the words from the box
accounts can connected earns often their use where
Banks are places where people can keep ……………………. money. Most people ……………………. banks to
save money in their savings ……………………. and to pay money from their checking accounts. Today,
when a person ……………………. money from their job, their paycheck is ……………………. electronically
deposited (put) into their savings or checking account. Then, he or she ……………………. pay their bills by
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writing checks from their checking accounts or pay online ……………………. their bills are electronically
…………………….to their bank accounts.
4) SUPPLY AND DEMAND
The concept of supply and demand is often called the heart and soul of economics. It is the foundation for much
of what is studied in the field, and understanding how supply and demand affect the economy can help us to
recognize economics everywhere in our daily lives.
- Why does the price of sunscreen go down in April in Argentina? Is the demand for this
product high in that month?
- When the newest version of the iPhone came out, the older version went on sale. Is the
demand for the older iPhone low or high?
- During the Thanksgiving season, the price of turkey increases in the US. Is the supply low or high? And what
about the demand?
Read the text carefully and do the exercises below.
In the business world, it’s common to hear and see references to supply and demand. In short, supply and
demand refers to the force of consumers (or how much customers want or need to buy something) in relation to
the available supply (or how much of something companies are able to sell). Generally speaking, high demand
results in limited supply and increased prices, and low demand results in an ample supply and decreased prices.
This phenomenon - the correlation between supply and demand and prices -might sound confusing at first, but it
(1) is actually rather simple. When there isn’t enough of a product available for sale to satisfy demand (or so that
everyone who wants this item can simply purchase it), manufacturers, or businesses that produce a product or
products, charge more; they (2) are able to do so because they aren’t faced with competition, and customers are
willing to pay more for that product. Inversely, if something is available in abundance, companies will have to face
competition and lower prices to improve their sales and profits.
This example will make the concept of supply and demand entirely clear. Imagine that a company creates a
fantastic video game system that many customers want to buy. Demand will build naturally and as the product
isn’t available to buy (this marketing technique is utilized by many companies today; not being able to purchase
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something seems to create consumer buzz), and if the supply doesn’t increase to give every willing customer a
system, prices will rise. In other words, if customers have no other way to buy the system than through its
manufacturer, and are having a hard time finding the system to buy, they (3) will be willing to pay more to buy it.
On the other side of the coin, a product that’s not proprietary (*), is widely accessible, and can be sold by any
company - pasta, for instance - is manufactured and sold by a number of businesses. One company might sell a
box of pasta for $10, and another company could respond to this price by selling their own pasta for six dollars,
and another company could sell their pasta for four dollars, and so on and so forth until the price has been driven
down to a very affordable rate. Demand isn’t particularly high in this scenario, as there is plenty of the product to
buy. Moreover, demand comes before competition; if demand is relatively low because a supply is high, prices
will fall and some degree of competition will occur.
(*) A proprietary product can only be obtained from one manufacturer. These items are generally identified by
the use of a trade name.
A- Choose the correct options:
1- What is supply and demand?
a- The amount of something that’s available to buy.
b- The maximum possible price for a product.
c- The force of consumers in relation to the available supply.
2- What prices do high and low demands create?
a- High demand creates low prices.
b- Low demand creates high prices.
c- High demand creates high prices and low demand creates low prices.
3- If a company produces a small quantity of an in-demand product, what happens to prices?
a- They rise.
b- They fall.
c- They stay the same.
17

4- Companies sometimes limit their supplies to:
a- Decrease demand.
b- Increase prices.
c- Decrease demand and lower prices.
5- What is commonly associated with low demand and low prices?
a- Proprietary products.
b- Ample competition.
c- Items that can be produced by many companies.
d- b and c.
B- What do the underlined words refer to?
1- it ………………………………………………………………………..
2- they …………………………………………………………………..
3- they .………………………………………………………………….
C- Find a word that means…
a- Possible to get; obtainable. (PARAGRAPH 1) …………………………………….
b- Happy to do something if it is needed. (PARAGRAPH 2) ……………………………………
c- To get better, or to make something better. (PARAGRAPH 2) ……………………………………
d- Completely. (PARAGRAPH 3) ………………………………….
e- Excitement among the consumers of a particular product, service, brand; influence.
(PARAGRAPH 3) ………………………………….
D- Find connectors / linkers which are used to express…
1- SUMMARY (PARAGRAPH 1) ………………………………..
2- CONTRAST (PARAGRAPHS 2 AND 4) ……………………………….. / ……………………………………………………..
3- ADDITION (PARAGRAPH 4) ……………………………………
4- EXEMPLIFICATION (PARAGRAPH 4) …………………………………
18
5) BOOKKEEPING
Do you get pocket money? What do you spend it on?
Do you record your income / spending? Why?
What are the advantages of recording your income and spending?
Read the text carefully and do the exercises below.
Bookkeeping
Bookkeeping is the foundation of accounting. It (1) is basically the recording of any financial transactions. These
transactions include purchases, sales, receipts and payments.
A lot of people think that bookkeeping and accounting is the same thing, but this is wrong. The confusion comes
from the fact that bookkeeping is an element of the accounting process. Accountants create reports from the
financial transactions, which were recorded, and file the appropriate forms with the government. But (a) it is the
bookkeeper who provides the accountant with the source information which these reports are based on. So (b)
without the bookkeeper the accountant would be forced to spend a great amount of time recording every
transaction.
It is also incorrect to think that bookkeeping is easy. Bookkeepers use one of several methods of recording
transactions, the single entry bookkeeping system and the double entry bookkeeping system being the most
common. Of these methods, it is universally recognised that double entry bookkeeping is a more effective system
for accounting. By using it (2) you can prove that the two sides agree and that the records are correct.
The double entry system works by recording two sides to each income or expenditure transaction. For instance
(c), if you buy a new computer for the office, the two sides would be that: the amount of money in your bank
account would decrease and the value of assets in the office would increase. This follows the accounting equation
that assets - liability = equity.
Traditionally, bookkeepers kept written records in journals and ledgers (*). Recently, computerised accounting
programmes have overtaken these (3) in popularity as they allow bookkeepers to record transactions faster and
at the same time automatically generate reports based on the figures.
19

Although (d) automated bookkeeping software has made bookkeeping easier, it (4) is still an area of great
difficulty for anyone without suitable training or experience. Bookkeeping, as with accounting, requires
understanding of the system which is being used and the effects of the transactions being posted.
In the single entry system, each transaction is recorded only once. This means that the record does not accurately
show the effect of the transaction and, as a consequence, is less effective. Single entry bookkeeping is often used
by sole-traders starting out in business as (e) it requires little expert knowledge.
Bookkeepers bring 'the books' to the balance stage at which point the work is passed to the accountant to
prepare the income statement and balance sheet using the work prepared by the bookkeeper.
Self-employed bookkeepers face the added difficulty of having to deal with clients who have either incomplete or
disorganised financial records and as a result (f) have to spend hours wading through boxes of receipts before
they can start recording the financial information contained in these receipts.
Unfortunately, a lot of people remain unaware of the complexity of the role of the bookkeeper, and the term is
now more commonly used to show an individual preparing basic financial records rather than a member of a
professional accounting team.
(*) Journal is a book where all the transactions are recorded in chronological order using the double-entry system.
Ledger is the book where all the transactions from the journal are transferred into separate accounts.
A- Are the following statements True or False? Correct the false ones.
1- Accounting refers to analysis and interpretation of bookkeeping records.
………………………………………………………………………………………………………………………………………………………………………….
2- Equity is the sum of assets and liabilities.
………………………………………………………………………………………………………………………………………………………………………….
3- Transactions are entered in the ledger and then in the journal.
………………………………………………………………………………………………………………………………………………………………………….
4- The recording process becomes more efficient and informative if all transactions are recorded using the single
entry bookkeeping system.
………………………………………………………………………………………………………………………………………………………………………….
5- The double entry bookkeeping system states that if debit increases, credit decreases and if credit increases,
debit decreases.
20

………………………………………………………………………………………………………………………………………………………………………….
6- Technology has made bookkeeping much easier.
………………………………………………………………………………………………………………………………………………………………………….
B- What do the underlined words refer to?
1- it ………………………………………………………………………..
2- it ………………………………………………………………………..
3- these ………………………………………………………………….
4- it ………………………………………………………………………..
C- Find a word that means…
1- a part of something (PARAGRAPH 2) …………………………………
2- a quantity of (PARAGRAPH 2) ………………………………….
3- show that something is true (PARAGRAPH 3) ………………………………..
4- being right or correct for a particular situation; acceptable (PARAGRAPH 6) ………………………………..
5- extra (PARAGRAPH 9) ………………………………..
6- reading a lot of boring information (PARAGRAPH 9) ………………………………..
D- Circle the meaning of the following connectors:
a- But: CONTRAST SEQUENCE
b- So: RESULT CONTRAST
c- For instance: ADDITION EXAMPLE
d- Although: CONDITION CONTRAST
e- as: REASON COMPARISON
f- as a result: RESULT ADDITION
21
Bibliography
Adapted and taken from:
Links
- https://learnenglish.britishcouncil.org/en/uk-culture/banking
- https://bettermoneyhabits.bankofamerica.com/en/personal-banking/pay-by-cash-debit-or-credit
- https://www.moneycrashers.com/why-need-paper-checks-use-safely/
- http://www.studyfinance.com/lessons/busorg/
- https://www.thebalance.com/types-of-banks-315214
-https://statedevelopment.sa.gov.au/upload/small-business/start-your-own-business-
workbook.pdf?t=1487717893684
- https://www.investopedia.com/
Books
- Business & Management

- Starting my own small business
- The business Intermediate (Students’ book)
- The business Pre-intermediate (Students’ book)
Articles
- Justin Pritchard (Banks
Selection of material, material design, and editing work:

Prof. Diana Martínez Salatín
Prof. María del Carmen Ruiz
Prof. Georgina Vallet
22

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E.S.P.

4th year - ADVANCED

Libros: High Note 3 (Ed. Pearson) Student’s Book y Workbook

Pautas de trabajo ciclo lectivo 2023:

● Entrega de trabajos y tareas en tiempo y forma

…………………………………………….. Fecha de notificación ........................................................ 2023

BUSINESS BOOKLET - 4th YEAR - ADVANCED

When we make a purchase, we must pay for the goods

1. TO PAY CASH: to pay at the moment the purchase is made

To pay in cash ≠ to pay with a document

BUSINESS BOOKLET - 4th YEAR - ADVANCED

5. TO PAY BY CHEQUES (BrE) / CHECKS (AmE)

CHEQUE: a written order, usually on a standard printed form, directing a bank

BUSINESS BOOKLET - 4th YEAR - ADVANCED

There are 3 parties to a cheque:

1- DRAWER: party who signs the cheque.

2- DRAWEE: party that must pay the cheque (the bank)

3- PAYEE: the person to whom the cheque must be paid.

There are two parties to a PN:

MAKER: party who signs the PN

PAYEE: Person who receives the money

BUSINESS BOOKLET - 4th YEAR - ADVANCED

a- credit card b- cheque c- debit card

a- credit card b- cheque c- debit card

3- What is the best strategy for avoiding credit card interest?

a- getting more cash from the ATM is easy to do.

b- losing it won’t be a big deal.

c- keeping track of how much you have spent is simple.

a- Drawer b- Drawee c- Payee

B) Circle the meaning of the following connectors:

1- Then: EXAMPLE SEQUENCE

2- Besides: ADDITION CONTRAST

3- However: CONTRAST CAUSE

4- Thus: ADDITION RESULT

BUSINESS BOOKLET - 4th YEAR - ADVANCED

5- A document that contains a promise to pay a stated amount to a stated person.

BUSINESS BOOKLET - 4th YEAR - ADVANCED

1. Read the text carefully and do the exercises below.

Most sole proprietorships are small-business operations, each owned by an

BUSINESS BOOKLET - 4th YEAR - ADVANCED

ADVANTAGES OF SOLE PROPRIETORSHIP

DISADVANTAGES OF SOLE PROPRIETORSHIP

BUSINESS BOOKLET - 4th YEAR - ADVANCED

1- Sole proprietorship is a business organization owned by one individual or more.

2- A sole proprietor is in direct control of the organization.

3- A sole proprietor may have difficulties in raising capital.

B) Circle the meaning of the following connectors:

1- Therefore: RESULT CONTRAST

2- Besides: CONDITION ADDITION

3- Although: CONTRAST EXAMPLE

4- Moreover: REASON ADDITION

2. Now read about partnerships and do exercises a) and b).

BUSINESS BOOKLET - 4th YEAR - ADVANCED

3- Available Capital: Several individuals in a business partnership can contribute more

2-Disagreement among partners: When several people manage a business, they

A- What do the underlined words refer to?

B- Find a word that means:

1- Money that is earned in business (Introduction) ……………………………….

3- Very small (Advantages) …………………………………

4- To try to prevent something bad from happening (Advantages) …………………………………….

BUSINESS BOOKLET - 4th YEAR - ADVANCED

1- The corporation is a legal form of business ownership.

2- Shareholders have unlimited liability.

3- Ultimate control of a corporation rests with the shareholders.