Упражнение № 1.  Read the following text and try to understand it.

Lecture: Price elasticity

Good morning everyone. Today we're going to investigate the price elas­ticity of demand for football tickets. Let's start by looking at the table.

The price elasticity of demand for football tickets

Now have a look at column one. As you can see, this shows price cuts of two pounds fifty. By considering the effects, the effects of price cuts of two pounds fifty, we can calculate the price elasticity of demand at each price. The price is shown in column three. But how have we calculated this? Let me explain. Let's, as an example, take the price often pounds which you can see in the table. As you can see, there is a corresponding quantity of twenty thousand tickets de­manded. Have you all got that? Good. Let's consider a price cut to seven pounds fifty. There is a price change here of minus twenty five percent, isn't there? From ten pounds to seven pounds fifty.

Now look at the corresponding change in the quantity of tickets demanded, in the next column, column two. The change in the quantity demanded is a hundred per cent, isn't it? From twenty thousand tickets to forty thousand tickets. I'll pause for a moment so you can look at that.

All right? Now, there is a hundred per cent change, and a twenty five per cent change in price. OK? So we divide a hundred by minus twenty five, which gives the answer minus four. So we say the de­mand elasticity at ten pounds is minus four. This sign? Haven't you come across it before? It means divided by.

Now, you calculate elasticities in the same way, that is dividing by percentage change in quantity by the corresponding percentage change in price. By dividing the percentage change in quantity by the corresponding percentage change in price.

Notice one thing here in the table. That is that we begin from the price of twelve pounds fifty the demand elasticity is minus infinity. Why is this so? Any suggestions? Well, it's simply because the per­centage change looks like this. Do you see now? Any positive number divided by zero yields plus infinity. Now, when we then divide by the minus twenty per cent change in price, that's from twelve pounds fifty to ten pounds, we obtain, get, minus infinity as the demand elasticity at this price.

Do you know these words?

Grammar: The Gerund (Read Grammar appendix: Lesson 6)

Упражнение № 2. Read the sentences, underline the Gerunds and translate these sentences:

1) Let's start by looking at this table. 2) By considering the effects of price cuts we can calculate the price elasticity. 3) The author spoke about the principles for intergrating economic and cultural values. 4) Some individuals intentionally allow mass copying of music from their computers. 5) Cambridge University Press devotes itself to printing and publish­ing literature on various subjects for students and researchers. 6) Understanding the difference between the Gerunds and Partici­ples I will help you to understand the structure and hence the mean­ing of the sentence.

Упражнение № 3.  Use the Gerunds of the right verbs and translate the sen­tences:

Упражнение № 4. Make word combinations and translate them into Russian: