Open World p 53. Shopping and Consumerism. The Economy and Business. Extra Speaking

1. Interaction: Talk about the following questions with your partner for about 5 minutes. The pictures are there to help you.

1. Is the society we live in too consumer oriented? 
2. Is ethical consumption right up your street? An ethical consumer is aware of the impact of the goods he is buying and then makes the best possible purchase decision available. Should we shop more ethically? What would that involve? Can you think of some benefits of buying locally produced food and other goods? How could we all contribute to improving working conditions in sweatshops?
3. Why do you think people buy counterfeit goods? What ways of combating counterfeiting can you think of?
4.  Do you follow the latest fads or do you have your own sense of style?
5. People spend a lot during the sales.  Is this justified? Do you believe in the sales? Do you think some people buy things on impulse?
6. How do advertisers manage to strike a chord with the consumers? Does advertising play an important role when we decide to purchase commodities?  Is the best advertising the one that spreads by word of mouth? How do you achieve this? Do you think advertisers should be paid generously? Who do you think should?
7. What do you think of shopping online / in second hand shops/ at auction/ at a car boot sale? Why do you think vintage clothes have become so popular nowadays?
8. What product/service sales are currently soaring? Have businesses taken many workers on?  What have we seen a proliferation of? As a result, what business would you invest heavily in? Do you think the consumers will tire of this product/service? 
9. What product/service sales have currently lost their appeal and consequently stagnated? Has anybody had to be laid off? Has any business had to be relocated? Do you know of any business that has come close to going under? Has any company gone into administration? What would give rise to a sales jump?
10. What is the impact of having boom and bust cycles for households? What effects does a period of economic downturn have? Can you see some signs of an upturn in the economy nowadays? Why do you think the problem of hyperinflation in some countries is so hard to solve? What austerity measures do countries impose when there is a recession? May schools and hospitals face cutbacks?
11. What are the advantages and the disadvantages of the global economy? Is globalisation an opportunity or a threat?
12. Have you heard of any evictions and repossessions recently? Do some people in your country struggle to make ends meet and fall behind with their mortgage repayments? Did taxpayers have to bail any banks out? Was it the right thing to do?
13. What are three things that you would like to have but which cost the earth? 
14. Who are three famous people who you think were born with a silver spoon in their mouth?
15. Why do you think so many people in society live beyond their means? Have you ever helped anybody who was flat broke? Do you think that in our neighbourhoods there might be people who live hand-to-mouth?
    
16. Have you ever had to ask for a refund or a credit note? Why?
17. What are the swings and roundabouts of using loyalty cards?
    

2. Monologue: Below there are some issues related to the topic. You must talk about at least two of them for 3 minutes. You may be asked further questions about the topic when you have finished. 
 

Student A

1. Are we fashion victims?  Why?  Why not? What kind of trends/products get out of date too soon and why? How do trends take off?
2. “He who is not contented with what he has, would not be contented with what he would like to have” (Socrates).  Discuss.
3. Do you think that the fact that the economy is at a low ebb has brought about a shift in our shopping habits? Do you know any businesses who have had to diversify to survive?

Student B

1. What are the advantages and disadvantages of flea markets? Have you ever haggled over the price of an item at a car boot sale? Do you agree that ‘one man’s trash is another man’s treasure’? Have you ever stumbled upon the bargain of a lifetime when rummaging through stuff at a car boot sale? Have you ever bartered any items?

2. Do you look at prices when you go shopping?  When did you last ask for a quote? In what situations do people or organizations usually pay in advance? And in arrears? And in instalments?  And in full? And on expenses? Have you ever bought anything on hire purchase? And on credit?  What do you pay by standing order?And by direct debit?

3. "Women enjoy buying things, men don't." Do you agree with this statement? Do you think women spend freely and men are frugal and save hard? Do you enjoy retail therapy- splashing out on things when you need to be cheered up? On what occasions have you decided to dip into the money you had saved carefully? Have you ever maxed out your credit card? Have you ever considered extending your overdraft? Do you know anybody who has sponged off their relatives?

What could break the bank? On what occasions have you had to tighten your belt?

Vocabulary

Ethical Consumption is about making the connections between a product, where that product originated and in what context it has been produced. It requires YOU to think before you shop, to consider just how your lifestyle affects other people and communities, as well as the environment.

(right) up your street (also (right) up your alley)

(informal) very suitable for you because it is something that you know a lot about or are very interested in. 

E.g. A teaching job would be right up her alley.

sweatshop: a place where people work for low wages in poor conditions.

counterfeit:  /ˈkaʊntəfɪt/ an object that is not genuine, but has been made to look as if it is, in order to trick people into thinking that they are getting the real thing. Fake. E.g. Despite the introduction of a security shield on the new £10 stamp, counterfeits are costing the postal service millions of pounds a year.

counterfeiting: /ˈkaʊntəfɪtɪŋ/ the crime of making an exact copy of something in order to trick people into thinking that it is the real thing.



fad: something that people are interested in for only a short period of time. Craze.E.g. the latest/ current fad. A fad for physical fitness. Rap music proved to be more than just a passing fad.

Impulse: /ˈɪmpʌls/ a sudden strong wish or need to do something, without stopping to think about the results. E.g. He had a sudden impulse to stand up and sing. I resisted the impulse to laugh. Her first impulse was to run away. The door was open and on (an) impulse she went inside. He tends to act on impulse. 

strike/touch a chord (with somebody) to say or do something that makes people feel sympathy or enthusiasm. E.g. The speaker had obviously struck a chord with his audience.

by word of mouth because people tell each other and not because they read about it. E.g. The news spread by word of mouth.

pay generously/ handsomely

auction /ˈɔːkʃn/ a public event at which things are sold to the person who offers the most money for them. E.g. an auction of paintings. The house is up for auction(= will be sold at an auction ). A classic Rolls-Royce fetched (= was sold for) £25000 at auction. An Internet auction site.
 
soar: if the value, amount or level of something soars, it rises very quickly. E.g. Unemployment has soared to 18%. 

proliferation: /prəˌlɪfəˈreɪʃn/ the sudden increase in the number or amount of something; a large number of a particular thing. E.g. attempts to prevent cancer cell proliferation. A proliferation of personal computers. 

invest foolishly/ heavily/ wisely

tire of something/somebody: to become bored with something/ somebody or begin to enjoy it/ them less. E.g. They soon tired of the beach and went for a walk. She was sure that he would soon tire of her. There are plenty of restaurants for those who tire of shopping.

stagnated stopped growing. To stop developing or making progress. E.g. Profits have stagnated. I feel I'm stagnating in this job. Businesses must adapt to change or stagnate.

go under:  to become bankrupt (= be unable to pay what you owe). E.g. The firm will go under unless business improves.

administration: a situation in which the financial affairs of a business that cannot pay its debts are managed by an independent administrator. E.g. If it cannot find extra funds, the company will go into administration.

give rise to something: (formal) to cause something to happen or exist. E.g. The novel's success gave rise to a number of sequels.

jump (in something) a sudden increase in amount, price or value. E.g. a 20 per cent jump in pre-tax profits. Unusually large price jumps.

boom and bust: a situation in which an economy or business regularly goes through periods of increased activity and success followed by periods of failure. E.g. The history of oil is one of boom and bust. In the gold industry, boom and bust cycles last an average of 10 years.The country seems, for now at least, to have left behind boom-and-bust economics.

downturn (in something) a fall in the amount of business that is done; a time when the economy becomes weaker. E.g. the recent economic downturns. a downturn in sales/trade/business. the economic downturn of 2008/2009. a period of economic downturn.

The global economy: the system of industry and trade around the world that has developed as the result of globalization (= the way in which economies have been developing to operate together as one system). The economies of the world's individual countries considered together as a single economic system. E.g. "New York plays a vital role in the global economy" Some of the global economy's largest industries, including the fossil-fuel, banking and insurance industries, are potentially at risk.



bail somebody out (of something) (British English also bale somebody out (of something))

to rescue somebody from a difficult situation. E.g. The government had to bail the company out of financial difficulty. Ryan's late goal bailed out his team. 

 

live beyond one's means: to spend more money than one can afford to spend.

E.g.

They've been living beyond their means for some time now, but they're too proud to move out of that giant house or give up their expensive cars. 

flat broke: not having any money at all. 

E.g. I'm flat broke.

 

 

credit note: a letter that a shop gives you when you have returned something and that allows you to have goods of the same value in exchange.

E.g.
If damaged items have to be returned, the manufacturer may issue a credit note.

 

out of date: old-fashioned or without the most recent information and therefore no longer useful. E.g These figures are very out of date. Suddenly she felt old and out of date. An out-of-date map. Out-of-date technology.  

The ebb: /eb/ the period of time when the sea flows away from the land. E.g. the ebb tide.
at a low ebb: in a poor state; worse than usual. E.g. Morale among teachers is at a low ebb.

bring something about: to make something happen. Cause. E.g. What brought about the change in his attitude? 

shift (in something) a change in position or direction. E.g. a dramatic shift in public opinion. A shift of emphasis.

diversify:  /daɪˈvɜːsɪfaɪ/
diversify (something) (into something) (especially of a business or company) to develop a wider range of products, interests, skills, etc. in order to be more successful or reduce risk. E.g.  Farmers are being encouraged to diversify into new crops. The company has been trying to diversify its business.

 

barter: the system of exchanging goods, property, services, etc. for other goods, etc. without using money

E.g.

The islanders use a system of barter instead of money.

 

quote (also quotation or estimate) a statement of how much money a particular piece of work will cost. E.g. Their quote for the job was way too high. You need to get a written quotation before they start work. We'll give you a free quotation for replacing your windows. We got estimates from three firms and accepted the lowest.

In arrears: /əˈrɪəz/ if money or a person is paid in arrears for work, the money is paid after the work has been done. E.g. if you pay in arrears, you settle the bill when the work is finished.

Instalment: /ɪnˈstɔːlmənt/ one of a number of payments that are made regularly over a period of time until something has been paid for. Sp. Plazo, cuota. E.g. we paid for the car by/ in instalments.

in full: to the full amount due. E.g. their relocation costs would be paid in full.

expenses [plural] money that you spend while you are working and which your employer will pay back to you later. E.g. You can claim back your travelling/ travel expenses. To take a client out for a meal on expenses. An all-expenses-paid trip 

Hire purchase: /ˈpɜːtʃəs/ A system by which one pays for a thing in regular instalments while having the use of it. The article only belongs to the person who is buying it when all the payments have been made. Sp. Comprar algo a plazos. E.g. a hire purchase agreement. We're buying a new cooker on hire purchase.

Credit: an arrangement that you make, with a shop/store for example, to pay later for something you buy. E.g. we bought the dishwasher on credit.

 

standing order: an instruction that you give to your bank to pay somebody a fixed amount of money from your account on the same day each week/month, etc.     

E.g.

to set up a standing order    

to pay by standing order

 

direct debit: an instruction to your bank to allow somebody else to take an amount of money from your account on a particular date, especially to pay bills.

E.g.
We pay all our bills by direct debit.

 

 

spend freely/ extravagantly/ lavishly/ wisely

Frugal: /ˈfruːɡl / using only as much money or food as is necessary. Sp. Austero. E.g. a frugal existence/ life. He has always been hard-working and frugal. 

save carefully/ hard 

dip into: to take an amount from money that you have saved.

E.g.
We took out a loan for the car because we didn't want to dip into our savings.

 

max out: to reach, or make something reach, the limit at which nothing more is possible.

E.g.

The car maxed out at 150 mph.     

I maxed out all my credit cards (= reached the spending limit on each one). 

overdraft

the amount of money that you owe to a bank when you have spent more money than is in your bank account; an arrangement that allows you to do this.

E.g.

She had run up an overdraft of £3 000.     

to pay off/clear an overdraft     

The savings account has no overdraft facility.

 

sponge (off/on somebody) /spʌndʒ/ (informal, disapproving) to get money, food, etc. regularly from other people without doing anything for them or offering to pay.

E.g.

He spent his life sponging off his relatives.