Is required as well as the ability to assess their quality.

i. Expert knowledge of the commodities and their market

ii. Expert knowledge of goods and services

iii. Audit knowledge of the commodities and their market

VIII. Which of the three is the key message of the text?

a) The wholesaler buys stock from the manufacturer, in large quantities and sells in small quantities to the retailer. The holding of stocks is an important function of the wholesaler. The wholesaler also helps to finance the retailer by allowing him credit, for many retailers only operate on a small amount of capital. The wholesaler is always in close touch with the market. The wholesaler sometimes provides retailers with supplementary services such as packaging, grading and so on.

b) The main functions of the general wholesaler are the breaking of bulk, the holding of stocks, financing, expert knowledge of commodities, markets and demand and preparation of commodities for sale.

c) Firms engaged in large-scale retail trade can afford to buy direct from the manufacturer. The wholesalers reduce the number of parcels to be sent out by manufacturers. The important economic consequence of stock holding is that it tends to reduce price fluctuations. Expert buyers and sellers are needed to the retail customers. The wholesaler is in close touch with the market, the wholesaler who holds stocks requires much more capital than an average retailer.

Vocabulary Focus

IX. Fill in the table with the missing derivatives from the text.

Nouns	Verbs	Adjectives/Adverbs
	manufacture
	distribute
relate
		fluctuating
judgement
	disposition
	store
	consider

X. Match the halves of the phrases.

1. passing them on	a) by wholesalers
2. keeping him	b) informed
3. to be in close touch	c) for the storage
4. operate on	d) with the market
5. acting in	e) a steady demand
6. release it	f) to the retailer
7. accumulate	g) gradually
8. satisfy	h) a financial capacity
9. make provision	i) large stocks
10. to be split up	j) only a small amount of capital

XI. Paraphrase the following phrases in italics, use the expressions from ex. X.

1. He died without a will, though he had gathered three thousand pounds.

2. They are easily divided into parties by intrigue.

3. I wish to be freed from my contract.

4. Many retailers function on only a small amount of capital.

5. The wholesaler copes with the market.

6. The wholesaler notified the manufacturer about the demand for his commodity.

Дата добавления: 2015-11-14