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WORSHEET 1

BUSINESS AND HUMAN WELFARE

Business is the production, sale, and distribution


of goods or services.

Kumpulkan halaman 3, setelah


semua soal dalam halaman tersebut
dikerjakan.
1. Reading Text: Read and comprehend the following text.
BUSINESS AND HUMAN WELFARE
In modern days people cannot be self-sufficient. cannot provide their needs by
themselves. Farmers produce food for themselves and for other people. However, they
have to rely on others for their other needs. They have to go to tailors because they cannot
make clothes for their families. They also need schools to educate their children.

Because of various human needs and wants,


many businesses have been set up. In the past, businesses
were concentrated on agriculture.

Most activities were directed for


producing food. Of course, agricultural activities also required related workers.
Blacksmiths were needed to produce agricultural tools made from iron and steel.
Similarly, carpenters were needed to produce tools made from wood.
The existence of farming as a business and other related businesses has created an
intermediate business: trade. Farmers do not have to find blacksmiths themselves in order
to get their tools. They do not have to see carpenters themselves either. Instead, they just
go to a market or shop where their tools are sold. Similarly, carpenters and blacksmiths

a
market is a point where potential buyers and
sellers meet.
do not have to contact farmers for food. They simply go to a market. Thus,

Farmers, blacksmiths, and carpenters do a similar job: producing goods.


Shopkeepers are different: they do not produce goods but they exchange goods for
money. Still, for goods to reach the shopkeepers, an activity is needed: distribution.

Distribution makes goods available to those in need.


1

With the advance of technology and civilization, more and more business forms

We have shops not only for goods but also


for prepared food, which we call restaurants. There are
hotel and transportation businesses. All these have improved human
welfare. People can find their needs much easier than
in the past, and so they can spend their time and
efforts for other activities.
have been set up.

II. Word Study: Write the suitable Indonesian translation next to each. Note that a word
may have several meanings. Therefore, choose the one which is suitable.

The benefits of business for human welfare.


Farmers are examples of people who have to rely on
others for some needs.
Why many businesses have been set up.
Shopkeepers are different from the other business
players because they work in sale business.
The past tense is used to describe events in the past.
Restaurants are shops for prepared food restoran
adalah tempat penjualan makanan yang sudah di
masak
Farmers are people who produce food for themselves
and for other people
Petani adalah orang yang menghasilkan pangan untuk
diri mereka sendiri dan orang lain
A market is a point where potential buyers and sellers
meet
Pasar adalah titik dimana calon pembeli dan penjual
bertemu
1. self-sufficient
2. provide

11. require
12. related

21. potential
22. goods

3. produce
4. rely on
5. tailors
6. educate
7. various
8. wants
9. set up
10. agriculture

13. blacksmiths
14. iron
15. steel
16. similarly
17. carpenters
18. existence
19. intermediate
20. trade

23. exchange
24. reach
25. available
26. in need
27. advance
28. civilization
29. prepared
30. spend

III. Text Analysis: If you read a text, you must pay attention to the title and the
organization of the text. Answer these questions to discover how the text is organized.
1. Based on the title, what is the above text about?
Answer:_______________________________________________________________
2. Why are farmers mentioned in the first paragraph?
Answer: ______________________________________________________________
3. What is the topic of the second paragraph?
Answer: ______________________________________________________________
4. Why are shopkeepers introduced in the fourth paragraph?
Answer: ______________________________________________________________
5. Why is the past tense used in the second paragraph?
Answer: ______________________________________________________________
IV. Definitions: Define the following terms based on the text.
1. Restaurants:
English
: __________________________________________________________
Indonesian : __________________________________________________________
2. Farmers:
English
: __________________________________________________________
Indonesian : __________________________________________________________
3. A market :
English
: __________________________________________________________
Indonesian : __________________________________________________________
V. Translation: Translate the following sentences into Indonesian.
1. In modern days people cannot be self-sufficient.
Answer: ______________________________________________________________
2. They also need schools to educate their children.
Answer: ______________________________________________________________
3. Agricultural activities also require related workers.
Answer: ______________________________________________________________
4. Carpenters were needed to produce tools made from wood.
Answer: ______________________________________________________________
5. Instead, they just go to a market or shop where their tools are sold.
Answer: ______________________________________________________________
6. Similarly, carpenters and blacksmiths do not have to contact farmers for food.
Answer: ______________________________________________________________

7. They simply go to a market.


Answer: ______________________________________________________________
8. For goods to reach the shopkeepers, an activity is needed: distribution.
Answer: ______________________________________________________________
9. There are hotel and transportation businesses, too.
Answer: ______________________________________________________________
10. All these have improved human welfare.
Answer: ______________________________________________________________
VI. Comprehension and Writing Practice: Answer the following questions in English.
1. Who do farmers produce food for?
Answer: for themselves and other people
2.
Why were businesses in the past concentrated on

It is because most activities were directed for producing


food.
3. Where do people now go to find their needs?
Answer: They simply go to a market
4. ow are blacksmiths and farmers similar to each other?
Answer: they produce goods for themselves
5. Why can modern people concentrate on their jobs?

and others.

because they can satisfy their needs easily, so they


have more time for their jobs
Answer:

VII. Comprehension Multiple-Choice Test: Choose the most correct answer based on
the text.
1. ( ) The word they in the first sentence of the first paragraph refers to ___________
A. people B. needs
C. farmers D. other people
2. ( ) The food farmers produce is for ______
A. themselves B. other people C. their children D. themselves and other people
3. ( ) ______ is concentrated on producing food.
A. Business B. Agriculture C. Distribution D. Transportation
4. ( ) Which profession appeared last?
A. Farmer B. Blacksmith C. Carpenter D. Trader
5. ( ) Blacksmiths DO NOT make tools _____
A. from iron B. from steel C. for farmers D. from wood
6. ( ) Farmers go to a carpenter to get tools made of ______
A. iron B. steel
C. wood
D. food
7. ( ) Traders business is _________ goods.
A. producing B. selling
C. distributing D. providing
8. ( ) Examples of traders are ________
A. farmers B. carpenters
C. shopkeepers D. blacksmiths
9. ( ) Prepared food is the main business of a __________
A. restaurant
B. farmer
C. carpenter D. hotel
4

10.(

) Business which brings goods to the people in need is ____


A. agriculture B. transportation C. trade
D. technology

VIII. Structural Exercises: Choose the correct answer.


1. ( ) In modern days people ____ not self-sufficient
A. cant B. are C. be D. is
2. ( ) _____ various needs, there have been many businesses.
A. Because B. In
C. Due
D. Because of
3. ( ) Most farmers work very hard for ______ food.
A. produce
B. produces
C. producing D. produced
4. ( ) Other professions ____ needed to support agricultural business.
A. has
B. are
C. will
D. had
5. ( ) People do not work only for ________.
A. themselves B. theirselves C. theyselves D. himself
6. ( ) Blacksmiths do not have _______ farmers for food.
A. to contacting
B. to contact C. contacting
D. to contacted
7. ( ) Distribution makes goods _______ for others.
A. be available B. to be available C. available
D. be available
8. ( ) Agricultural activities also require _______ workers.
A. relating
B. relate C. related
D. to relate
9. ( ) Grocery stores are shops only _____ vegetables and fruit.
A. to B. for C. from D. with
10. ( ) We can satisfy our needs easily, ____ we have more time for our jobs.
A. because B. therefore C. that D. so
IX. Structural Error Identification Exercises: Circle A, B, C, or D, whichever is
incorrect.
1. ( ) They cannot provide their needs for theirselves
A
B
C
D
2. ( ) They also need schools to educating their children.
A
B
C
D
3. ( ) Most activity were directed for producing food.
A
B
C
D
4. ( ) In the past, businesses are concentrated in agriculture.
A
B
C
D
5. ( ) The existence of farming have created other businesses.
A
B
C
D
6. ( ) Farmers go to blacksmiths in order get their tools.
A
B
C
D
7. ( ) Market is a point where potential buyers and sellers meet.
A
B
C
D
8. ( ) They go to a market where are their tools sold.
A
B
C
D
9. ( ) Goods to reach the shopkeepers, an activity is needed.
A
B
C
D
10. ( ) There is hotel and transportation businesses.

A B

Note of about standardized tests of English Competency:


Today there are many standardized tests for measuring ones English competency, such as
Test of English as a Foreign Language (TOEFL) and Test of English for International
Communication (TOEIC). In these two tests, the aspects tested are the listening
comprehension, the reading comprehension and the structural mastery. In listening
comprehension, testees must recognize sounds and utterance meaning, determining and
anticipating topics, and making conclusions. For the reading comprehension, testees must
recognize the idea organization of a passage and direct or indirect ideas about the whole
passage and part of the passage. Exercise VII is meant for this skill. For the structural
mastery, testees must recognize the correct items (as in Exercise VIII) and the incorrect
items (as in Exercise IX).
(Composed by Fr. B. Alip)

WORKSHEET II
PEOPLE AND EMPLOYMENT
I. Reading Text: Read and comprehend the following text.
PEOPLE AND EMPLOYMENT
Everybody needs a source of income in order to survive. When people are hired
by a company or somebody else, they will receive money and/or other compensation.
Those people have jobs, so they are employed. However, this does not always happen.
Sometimes people do not have any job and they have no work to do. In other words, they
are unemployed. Because people need to support themselves and their dependents,
governments make many efforts to provide jobs to their citizens. They want to prevent
unemployment and always watch the unemployment rate carefully.
Employment and unemployment rates are calculated based on a monthly sample
of household survey. The unemployment rate is the portion of unemployed people out of
the total labor force. The labor force is made of people above 17 who either have jobs or
are still looking for jobs. People who are retired or children are not included in the labor
force. Though they do not hold any job, they are not looking for a job.
What most people do differ from one country to another. In an agricultural
country like Indonesia, most people work in the agricultural sector. They work to produce
food for the rest of the population or perhaps for exports. In industrial countries, most of
the labor force work in factories and other industrial sectors. In the US and Canada, for
example, less than 10% of the labor force work in the agricultural sector. In Indonesia,
more than 50% work in this sector though more and more people work in modern
industries.
In developed countries, however, more and more people work in the service
industries and institutions. Thus, instead of working in factories, they prefer working in
trading, teaching, medicine and research. This can happen when people are better
educated. Therefore, they are called white collar workers in contrast to blue collar
workers.
The development of modern industries has also changed the labor force
composition. In the past most women stayed home to be care-givers, while men looked

for jobs to be bread-winners. Today, more and more women, both married and single, also
work side by side with men labor.
(Ideas from Groliers Encyclopedia of Knowledge, 1991: 24-25)
II. Word Study: Write the suitable Indonesian translation next to each. Note that a word
may have several meanings. Therefore, choose the one which is suitable.
1. unemployment
11. another
21. in contrast
2. hired
12. rest
22. development
3. compensation
13. population
23. changed
4. dependents
14. less
24. stayed home
5. efforts
15. service
25. care-givers
6. prevent
16. institutions
26.
breadwinners
7. calculated
17. prefer
27. while
8. retired
18. trading
28. looked for
9. labor force
19. white-collar
29. more and more
10. differ
20. blue-collar
30. side by side
III. Text Analysis: If you read a text, you must pay attention to the title and the
organization of the text. Answer these questions to discover how the text is organized.
1. Based on the title, what is the above text about?
Answer: ______________________________________________________________
2. What is the topic of the first paragraph?
Answer: ______________________________________________________________
3. Why are the US and Canada mentioned in the text?
Answer: ______________________________________________________________
4. Why is Indonesia mentioned in the text?
Answer: ______________________________________________________________
5. Why are both the past tense and present tense used in the last paragraph?
Answer: ______________________________________________________________
IV. Definitions: Define the following terms based on the text.
1. Unemployment rate:
English
: __________________________________________________________
Indonesian : __________________________________________________________
2. Care-givers:
English
: __________________________________________________________
Indonesian : __________________________________________________________
3. Bread-winners:
English
: __________________________________________________________
Indonesian : __________________________________________________________
V. Translation: Translate the following sentences into Indonesian.
1. Everybody needs a source of income in order to survive.
Answer: ______________________________________________________________
2. They want to prevent unemployment and watch the unemployment rate carefully.
Answer:_______________________________________________________________

3. People who are retired or children are not included in the labor force.
Answer: ______________________________________________________________
4. Though they do not hold any job, they are not looking for a job.
Answer: ______________________________________________________________
5. They work to produce food for the rest of the population or perhaps for exports.
Answer: ______________________________________________________________
6. In Indonesia, more than 50% work in this sector though more and more people work
in modern industries.
Answer: ______________________________________________________________
_____________________________________________________________________
7. Thus, instead of working in factories, they prefer working in trading, teaching,
medicine and research.
Answer: ______________________________________________________________
8. The development of modern industries has also changed the labor force composition.
Answer: ______________________________________________________________
9. In the past most women stayed home to be care-givers
Answer: ______________________________________________________________
10. More and more women, both married and single, also work side by side with men
labor.
Answer: ______________________________________________________________
VI. Comprehension and Writing Practice: Answer the following questions in English.
1. Why should people work?
Answer: _____________________________________________________________
2. How is the unemployment rate calculated?
Answer: _____________________________________________________________
3. What do people do when working in the agricultural sector?
Answer: _____________________________________________________________
4. Where do people in Europe mostly work? Why?
Answer: _____________________________________________________________
5. Who are the white-collar workers?
Answer: _____________________________________________________________
VII. Comprehension Multiple-Choice Test: Choose the most correct answer based on
the text.
1. ( ) The word they in the second sentence of the first paragraph refers to ________
A. people B. companies
C. employment D. somebody else
2. ( ) People work to support their ______
A. families B. dependents only C. government D. companies
3. ( ) Unemployed people do not have ______
A. dependents B. any source of income C. money D. compensation
4. ( ) The unemployment rate shows how many people ____
A. have no jobs B. work every month C. are looking for jobs D. are retired
5. ( ) Children do not belong to the labor force because they ____
A. have no jobs B. are still too young C. are not looking for jobs D. are retired

6. (

) In Indonesia, most people work in _________


A. the service factor B. the industrial sector C. the agricultural sector D. factories
7. ( ) In the US, most people work in _________
A. trading B. the industrial sector
C. the agricultural sector D. research
8. ( ) An example of service industries is _____________
A. teaching B. agriculture
C. factories D. staying at home
9. ( ) Service industries need __________
A. educated people B. care-givers
C. bread-winners D. blue-collar workers
10.( ) Now more and more women are __________
A. care givers B. white-collar workers C. bread-winners D. blue-collar workers
VIII. Structural Exercises: Choose the correct answer.
1. ( ) Everybody _____ a source of income in order to survive.
A. must have B. must has C. should
D. must
2. ( ) They ____ receive money and other compensation.
A. has
B. have
C. will
D. would
3. ( ) They want _________ unemployment.
A. to prevent B. preventing C. prevent D. prevented
4. ( ) Retired people _________ not included in the labor force.
A. is
B. are C. do
D. did
5. ( )_________ they do not hold any job, they are not looking for a job.
A. Because B. Although C. Since D. And
6. ( ) They work to produce food _____ the rest of the population.
A. to B. because of C. for
D. about
7. ( ) In Canada less ____ 10% of the labor force work in the agricultural sector.
A. for B. than C. then D. of
8. ( ) They ________ working in trading, teaching, medicine and research.
A. want B. prefer
C. will D. can
9. ( ) This ________ when people are better educated.
A. happens B. to happen C. happening D. happened
10.( ) The development of modern industries __ changed the labor force composition.
A. have B. will C. has D. should
IX. Structural Error Identification Exercises: Circle A, B, C, or D, whichever is
incorrect.
1. ( ) They will receive a money and/or other compensation.
A
B
C
D
2. ( ) However, this does not always happens.
A
B C
D
3. ( )The unemployment rate is the portion of the unemployed out of the total force labor.
A B
C
D
4. ( ) Though they do not hold any job, they are not look for a job.
A
B
C
D
5. ( ) What most people do differs in one country to another.
A
B
C
D

6. (

) In an agricultural country most people work in a agricultural sector.


A
B
C
D
7. ( ) This can happen when people are better education.
A
B
C
D
8. ( ) They are called white-collar worker in contrast to blue-collar workers.
A
B
C
D
9. ( ) This condition happens which people are better educated.
A
B
C
D
10. ( ) Most women stayed home, while men looked jobs.
A
B
C
D
(Composed by Fr. B. Alip)

WORKSHEET III
POOR AND RICH COUNTRIES
I. Reading Text: Read and comprehend the following text.
POOR AND RICH COUNTRIES
The worlds richest country is the USA, with a GDP (gross domestic product) of $
7,783 billion. However, people in Switzerland have an even higher GDP per head, that is
$ 43,060. The worlds poorest country by GDP per head is Myanmar. Each person has, on
average, $100, but many are even poorer. The sad fact is that the worlds richest countries
with less than a quarter of the worlds population take three quarters of its wealth. This
creates imbalances between the rich and poor countries. Most of the worlds rich
countries are in the Northern Hemisphere, while most poor countries are in the South.
This makes us talk of the North-South divide. Since 1960, the divide between North and
South has grown wider leaving many in poverty.
About one billion people around the world live in absolute poverty. This means
they have no real homes. In cities like Calcutta and Jakarta, they sleep rough or live in
shacks. They rarely have enough to eat or drink. Richer countries want to alleviate this
worldwide sad condition. In the 1970s they encouraged poor countries like Mexico and
Brazil to borrow money to build new dams and industrial works so that production can be
increased, more people have jobs, and poverty can be reduced. However, by 1999 poor
countries were paying $50 billion more in debt interest than rich countries were donating
in aid.
Another bad consequence of poverty is that famine has become a common
problem in the poorer parts of the world. One reason is that so much farmland is used for
growing crops for export. This raises the cost of food and restricts the land available for
growing food for local people. Indeed, 250,000 children die a week from a poor diet. The
situation is further complicated by a lack of clean water. 250,000 die a month from
diarrhoea because clean water can hardly be found in those poverty-stricken areas.

10

(adapted from 1000 Things You Should Know about)


II. Word Study: Write the suitable Indonesian translation next to each. Note that a word
may have several meanings. Therefore, choose the one which is suitable.
1.
2.
3.
4.
5.
6.
7.
8.
9.

gross
average
quarter
imbalance
wealth
hemisphere
divide
poverty
rough

10. shack
11. alleviate
12. encourage
13. increase
14. reduce
15. debt
16. interest
17. famine
18. farmland

19. crop
20. raise
21. restrict
22. complicate
23. lack
24. hardly
25. poverty-stricken

III. Text Analysis: If you read a text, you must pay attention to the title and the
organization of the text. Answer these questions to discover how the text is organized.
1. Based on the title, what is the above text about?
Answer:______________________________________________________________
2. Please try to find another (perhaps more suitable) title for the above text.
Answer:_______________________________________________________________
3. Why is Myanmar mentioned in the first paragraph?
Answer:_______________________________________________________________
4. What is the topic of the second paragraph?
Answer:_______________________________________________________________
5. What does the word this in line 5 of the first paragraph refer to?
Answer:_______________________________________________________________
6. Which facts does the connector however in line 6 of the second paragraph contrast?
Answer:_______________________________________________________________
IV. Translation: Translate the following sentences and phrases into Indonesian.
1. the worlds richest countries with less than a quarter of the worlds population
Answer:_______________________________________________________________
2. Those rich countries take three quarters of the worlds wealth.
Answer:_______________________________________________________________
3. This makes us talk of the North-South divide.
Answer:_______________________________________________________________
4. The divide between North and South has grown wider leaving many in poverty.
Answer:_______________________________________________________________
5. The poor people sleep rough and live in shacks.
Answer:_______________________________________________________________
6. Rich countries encouraged poor countries to borrow money to build industrial works.
Answer:_______________________________________________________________
7. Poor countries were paying $50 billion more in debt interest than rich countries were
donating in aid.

11

Answer:______________________________________________________________
8. So much farmland is used for growing crops for export.
Answer:_______________________________________________________________
9. This restricts the land available for growing food for local people.
Answer:_______________________________________________________________
10. Clean water can hardly be found in those poverty-stricken areas.
Answer:_____________________________________________________________
V. Comprehension and Writing Practice: Answer the following questions in English.
1. Why is the USA mentioned as the richest country in the world?
Answer:_______________________________________________________________
2. What is the consequence of the fact that the richest countries take three quarters of the
worlds wealth?
Answer:_______________________________________________________________
3. What is meant by living in absolute poverty?
Answer:_______________________________________________________________
4. Do rich countries really help poor countries? Explain.
Answer:_______________________________________________________________
5. Why is the land available for growing food for local people restricted?
Answer:_______________________________________________________________
VI. Comprehension Multiple Choice Test: Choose the correct answer based on the text.
1. (
2. (
3. (

4. (
5. (
6. (

7. (

) Most of the people in Myanmar are ___.


A. poor
B. rich
C. not so poor
D. not so rich
) Imbalances between North and South are ___.
A. praised
B. not found
C. recognized.
D. ignored
) The cause of imbalances between North and South is that ___.
A. the number of countries in the North is bigger than in the South.
B. the number of countries in the South is bigger than in the North.
C. the countries in the South take two-thirds of the worlds wealth.
D. the countries in the North take most of the worlds wealth.
) The number of people in the world who have no homes is around ___.
A. one million
B. ten million C. 100 million
D. 1000 million
) According to the text, it is difficult for the people living in absolute poverty to __.
A. communicate and work
C. live and work
B. sleep and eat
D. have fun and drink
) In general richer countries ____ the condition of poor countries because of the
huge debt interest the poor countries have to pay.
A. have ignored
C. have not tried to improve
B. have failed to improve
D. have succeeded in improving
) Why is the land available for growing food for local people limited?
A. Because a lot of farmland is used for growing crops for export.
B. Because there is lack of clean water.
C. Because the cost of food increases.
D. Because famine has become the common problem in many parts of the world.

12

8. (

) What is the consequence of lack of clean water in many parts of the world?
A. Farmland is not fertile anymore.
B. The land available for growing food has been reduced.
C. A lot of people die from diarrhoea.
D. Clean water can hardly be found.

VII. Structural Exercise: Choose the correct answer.


1. (
2. (
3. (
4. (
5. (
6. (
7. (
8. (

) Each person gets only one hundred dollars, but many ___ even poorer.
A. have
B. has
C. are
D. is
) It is a fact that most of ___ are in the South.
A. the poor countries B. poor countries C. the poor country D. of poor country
) All countries want ___ this worldwide serious problem.
A. solve
B. to solve
C. solving
D. to be solved
) Indonesia borrowed money from rich countries ___ new roads.
A. building
B. built
C. to be built
D. to build
) The divide between North and South ___ wider for the last 40 years.
A. becomes
B. becoming C. has become
D. will become
) Insufficient electric power supply makes us ___ the use of electricity.
A. reduce
B. to reduce
C. be reduced
D. reducing
) The land available for ___ food for the people is now restricted.
A. produce
B. produced
C. being produced
D. producing
) Swiss people ___ the richest in the world.
A. consider B. considering
C. are considering
D. are considered

VIII. Structural Error Identification Exercise: Circle A, B, C, or D, whichever is


incorrect.
1. ( ) People in Malaysia has an even higher GDP per head.
A
B
C
D
2. ( ) Most of the worlds rich nation are not in the North.
A
B
C
D
3. ( ) Richer countries need helping poorer countries.
A
B
C
D
4. ( ) More people have jobs and poverty can be reduce.
A
B
C
D
5. ( ) Poor countries were paying billions of dollars more in debt interest than richer
A
B
C
countries were donate in aid.
D
6. ( ) So many farmland is used for growing crops for export.
A
B
C
D
7. ( ) In the more poor parts of the world, famine becomes a common problem.
A
B
C
D
8. ( ) The children rarely have enough to be eaten or drink.
A
B
C
D
9. ( ) This worldwide problem is complicate by a lack of clean water.

13

10. (

A
B
C
D
) More than 2000 people die a monthly from diarrhoea because of lack of water.
A
B
C
D

(Composed by J. B. Gunawan)

WORKSHEET IV
MONEY: HISTORY AND TYPES
I. Reading Text: Read and comprehend the following text.
MONEY: HISTORY AND TYPES
Money
Money can be used for the payment of goods, services, or debts. It consists of
coins, paper money or currency, and checks which are convertible into currency and coins
on demand. The three items can expedite the production and trade of goods and services,
and they can also liquidate debts.
Money is good if it has a good material: durable, easy to store, lacking in bulk,
and light in weight. The examples of good money which are ideal for such purposes are
metallic coins and paper money.
Some money is legal tender - that is, money that by law must be accepted as
payment of debt. Unlike checks, currencies and coins are legal tender because they are
created by the government. In addition, money can be created by the government and
private institutions under its direct control.
History of Money
One of the primitive and ancient forms of money was the one used by the peoples
on the island of Yap in the South Pacific until the early 20 th century. Their money was
called the fei, consisting of large stone wheels ranging in size from 1 to 12 feet (0.3-3.6
meters) in diameter with a hole in the center. The value was determined by their sizes.
The barter system by using metal as money was long used by traders of the early
Phoenician and Babylonian culture. The system was followed by the early Egyptians and
Greeks. They used gold, silver, copper and bronze, but not in the form of coins..
Types of Money
There are three types of money used in modern economy:

14

Metallic Money. Today metallic money consists of the various coins in circulation.
Paper Money. Federal Reserve Notes and U.S. Notes are two types of paper money
which are issued today in the United States. There were some other types of paper money
issued earlier; and are still outstanding although they have been withdrawn from
circulation, presumably in the hands of collectors.
Private Bank Money. This is sometimes called checkbook money or demand
deposits. Some of it exists when banks make loans, and some does when people make
deposits. The Federal Reserve System controls the amount of checkbook money that
banks can make. The private bank money is also called demand deposit because it must
be fully and immediately convertible into currencies and coins. Checks are mostly used
today for financial payments because they are easy and convenient, and they provide
flexibility in making payments.
(Simplified from The Encyclopedia AMERICANA International Edition. Vol. 19. 1995. Grolier
Incorporated: Connecticut)

II. Word Study: Write the suitable Indonesian translation next to each.
1. payment
11. durable
21. ranging
2. goods
12. stored
22. copper
3. services
13. lacking
23. bronze
4. debts
14. bulk
24. issued
5. consists of
15. light
25. withdrawn
6. currency
16. weight
26. presumably
7. convertible
17. purposes
27. loans
8. demand
18. ancient
28. convenient
9. expedite
19. form
29. provide
10. liquidate
20. wheels
30. flexibility
III.Text Analysis: If you read a text, you must pay attention to the title and the
organization. Answer these questions to discover how the text is organized.
1. Based on the title, what is the above text about?
Answer: __________________________________________________________
2. Write the subtopics of the passage.
Answer: __________________________________________________________
3. What is the relation between the title and the subheadings?
Answer: __________________________________________________________
4. What is the topic of the sixth paragraph?
Answer: __________________________________________________________
5. In what paragraph is the function of money stated?
Answer: __________________________________________________________
IV. Definitions: Define these terms based on the text and then translate them into
Indonesian.
1. Legal tender
English
: ____________________________________________________
Indonesian
: ____________________________________________________
2. Demand deposit
English
: ____________________________________________________

15

Indonesian
: ____________________________________________________
V. Translation: Translate the following sentences into Indonesian.
1. Money can be used for the payment of goods, services, or debts.
Answer: __________________________________________________________
2. The three items can expedite the production and trade of goods and services.
Answer: __________________________________________________________
3. Money is good if it has a good material: durable and light in weight.
Answer: __________________________________________________________
4. Money can be created by government and institutions under its direct control.
Answer: __________________________________________________________
5. The value was determined by its size.
Answer: __________________________________________________________
6. They used gold, silver, copper, and bronze, but not in the form of coins.
Answer: __________________________________________________________
7. Today metallic money consists of the various coins in circulation.
Answer: __________________________________________________________
8. Federal Reserve Notes and U.S. Notes are two types of paper money issued in the
U.S.
Answer: __________________________________________________________
9. Some of it exists when banks make loans, and some does when deposits are made.
Answer: __________________________________________________________
10. They are easy and convenient and provide flexibility in making payments.
Answer: __________________________________________________________
VI. Comprehension and Writing Practice: Answer the following questions in English.
1. What do you think of the form of money used by peoples on the island of Yap?
Answer: __________________________________________________________
2. Why should government control private institutions in creating money?
Answer: __________________________________________________________
3. Why is a check not legal tender?
Answer: __________________________________________________________
4. Which one is more effective, checks or currencies and coins? Why?
Answer: __________________________________________________________
5. Mention the types of money in Indonesia.
Answer: __________________________________________________________
VII. Reading Comprehension: Choose the most correct answer of the following
questions!
1. ( ) The word it in the first line of the first paragraph refers to ___.
A. goods
B. services
C. money
D. debts
2. ( ) Money which is not legal tender is ___.
A. a currency B. paper money
C. a coin
D. a check
3. ( ) The word its in the sentence The value was determined by its size refers
to ___ . A. stone wheels
B. fei C. value
D. size
4. ( ) The form of money that is not ideal is ___.
A. paper money
B. fei
C. coins
D. currencies
5. ( ) There are ___ types of paper money issued in the United States today.
A. three
B. four
C. more than two
D. two

16

6. (

) The expression the system in the fifth paragraph line 2 refers to ___.
A. using metal as money
C. traders
B. the barter system
D. the early Egyptians and Greeks
7. ( ) The word they in the fifth paragraph in the last sentence refers to ___.
A. the system
C. the early Phoenician and Babylonian cultures
B. the early Egyptians and Greeks D. the early Babylonian and Greeks
8. ( ) These deposits in the last paragraph refers to the terms in the following,
except ___.
A. private bank money
C. demand deposits
B. The Federal Reserve System
D. checkbook money
9. ( ) The sentence The value was determined by its size has a meaning the ___.
A. value of the stone was various C. larger the stone, the smaller was its value
B. size of the stone was various D. larger the stone, the greater was its value
10. ( ) In by government and private institutions under its direct control (par.3), the
word its refers to ___.
A. private institutions B. government C. money
D. checks
VIII. Structural Exercises: Choose the most correct answer!
1. ( ) Government and private institutions can ___ money.
A. create
B. creating
C. creates D. be created
2. ( ) Good money consists of a material which ___ durable and lacking in bulk.
A. are
B. was
C. is
D. has
3. ( ) Money ___ some functions such as to pay for the goods, services, and debts.
A. have
B. has
C. is
D. is had
4. ( ) The amount of checkbook money that banks can make ___ by the FRS.
A. controls
B. is control
C. are controlled D. is controlled
5. ( ) Metallic coins and paper ___ the examples of good money.
A. is
B. being
C. are
D. was
6. ( ) The fei was the form of money ___ was used by the peoples on the island of
Yap in the South Pacific. A. who
B. which
C. whom D. where
7. ( ) The larger the stone, the ___ was its value.
A. greater
B. great
C. greatest
D. more great
8. ( ) Checkbook money and demand deposits ___ other names for private
bank money. A. are
B. is being
C. being
D. is
9. ( ) Some of checkbook money comes into ___ when banks make loans.
A. exist
B. existing
C. existence
D. exists
10.( )The early Egyptians and Greek ___ the same system as done by
the early Phoenician and Babylonian long time ago.
A. follows
B. followed
C. follow
D. was followed
IX. Structural Error Identification Exercises: Circle A, B, C, or D, whichever is
incorrect!
1. ( ) Goods, services, and debts can be payed by money.
A
B
C D
2. ( ) The fei was consisted of large stone wheels ranging in size.
A
B C
D
3. ( ) The size of the stone wheels was determined the value.
A
B
C
D

17

4. (

) Money consists of three types which these types can expedite business.
A
B
C
D
5. ( ) People use bank money because it is easy and flexibility
A
B
C
D
6. ( ) In the past, the peoples on the island of Yap use money called the fei.
A
B
C
D
7. ( ) There is two types of paper money issued today in the USA.
A
B
C
D
8. ( ) When deposits is made, some of private bank money comes into existence.
A B C
D
9. ( ) Checks are not legal tender because the government does not create it.
A
B
C
D
10. ( ) The government and private institutions can be create money.
A
B C D
(Composed by Linda Valentina Budiman)

WORKSHEET V
BASIC CONCEPTS OF ECONOMICS
I. Read the following text and try to understand it as much as you can.
BASIC CONCEPTS OF ECONOMICS

The basic objective of all economic activity is to achieve the highest


possible level of consumption compatible with the supply of producing resources.
The scarcity of resources, as shown by high prices, imposes the necessity of
allocating resources among alternative present and future uses. Choice, therefore,
is the essence of economic decision making.
The choice process occurs both at the level of the household and at that of
the business firm. Households that are free to exercise their choices in the
marketplace are assumed to behave in a way that will bring maximum satisfaction,
or utility. The essence of rational behaviour for a household is to spend their
limited money for items or services that provide the greatest utility.
Rational behaviour in the business sector implies that firms direct their
efforts toward maximizing profits. To do this they must, first, be responsive to the
household demands for goods and services. Second, they must also combine the
labour and material sources in such a way as to minimize their production costs.
This is the essence of efficient production.
Analyses on the nature and results of the choices that households and
business firms make are the concern of microeconomic analysis. The focus is the
behaviour of the individuals, organizations, and institutions in the economy.
Though all acts are, of course, individual acts, individuals often make decisions
and act on behalf of some organization or institution, public or private.

18

The study of the behaviour of households and business firms is only one
part of economic analysis, however. The other part is concerned with the study of
the behaviour of overall economic factors macroeconomics. The results of
economic performance can be measured in terms of production and income. Chief
among the yardsticks that measure the economys overall performance is gross
national product, which make up the market value of all final goods and direct
services produced during the year. Production costs (wages, rent, interest,
depreciation, managerial profits, and taxes) that are included in consumer prices
constitute an income stream that correspond to gross national income. This is
made of all income earned by the owners of the productive factors (labour, capital,
and natural resources) used by business firms.
(Adapted from Groliers Encyclopedia of Knowledge Volume 6, 1995:330-1)
]
II. Word Study: Write the suitable Indonesian translation next to each word.
1. consumption
11. satisfaction
21. concern
2. compatible
12. utility
22. focus
3. supply
13. spend
23. institution
4. resource
14. item
24. take care of
5. scarcity
15. imply
25. measure
6. impose
16. direct
26. in terms of
7. use
17. effort
27. yardstick
8. occur
18. responsive
28. value
9. firm
19. demand
29. rent
10. assume
20. on behalf of
30. interest
III. Text Analysis: If you read a text, you must pay attention to the title and the
organization.
1. Based on the title, what is the above text about?
Answer: ______________________________________________________
2. In the third sentence of the first paragraph, what does the word therefore
summarize?
Answer: _______________________________________________________
3. The second paragraph begins with a sentence introducing two levels where
choices are made. What are the two levels?
Answer: _______________________________________________________
4. What is the main content of the second paragraph?
Answer: _______________________________________________________
5. How is the third paragraph related to the second paragraph?
Answer: _______________________________________________________
6. What do the word first and second in the third paragraph introduce?
Answer: _______________________________________________________
7. What branch of economics is the fourth paragraph about?
19

Answer: _______________________________________________________
8. Why is the expression of course used in the last sentence of the fourth
paragraph?
Answer: _________________________________________________________
9. The expression however is used to contrast two things. Why is the word used in
the first sentence of the last paragraph?
Answer: _________________________________________________________
10. Why is the word yardsticks written between quotation marks?
Answer: ______________________________________________________
IV. Concepts and Definitions: Write the following concepts or definitions based on
the above text.
1. The essence of economic decision making is ________________________________
_____________________________________________________________________

20

2. The essence of efficient production is ______________________________________


____________________________________________________________________

3. Microeconomics is
___________________________________________________
_________________________________________________________________
4. Macroeconomic is ______________________________________________________
_____________________________________________________________________
V. Comprehension Questions. Answer these questions in English.
1. Why must the level of consumption be compatible with the supply of producing
resources?
Answer: _______________________________________________________
_______________________________________________________________
2. In business activity, what are resources used for?
Answer: _______________________________________________________
_______________________________________________________________
3. How do households exercise their choices to spend their money?
Answer: _______________________________________________________
_______________________________________________________________
4. Why must business firms be responsive to household demands?
Answer: _______________________________________________________
_______________________________________________________________
5. Why do business firms have to use their labour and resources in the best way?
Answer: _______________________________________________________
_______________________________________________________________
6. What is the interest of microeconomic analyses?
Answer: _______________________________________________________
_______________________________________________________________
7. Which economic factors are studied in microeconomic analyses?
Answer: ______________________________________________________
_______________________________________________________________
8. What is the interest of macroeconomic analyses?
Answer: _______________________________________________________
_______________________________________________________________
9. How is the result of economic performance measured?
Answer: _______________________________________________________
10. What elements determine consumer prices?
Answer: _______________________________________________________
VI. Scanning: Find the following specific information
1. Six elements of production costs are __________________________________
_______________________________________________________________
1. Three productive factors are _____________________________________
_______________________________________________________________

21

VII. Comprehension: Based on the above text, write T if the statement is correct, F if
false.
( ) 1. The most important goal of all economic activity is to reduce consumption.
( ) 2. High prices show that resources are limited.
( ) 3. Only households make economic choices.
( ) 4. Households want to have the highest level of satisfaction.
( ) 5. Firms want to have the highest amount of profit.
( ) 6. Firms want to increase production costs.
( ) 7. Microeconomics studies how firms and households make choices.
( ) 8. Individuals always make decisions based on their own interests.
( ) 9. Macroeconomics studies overall economic factors.
( ) 10. Consumer prices are not influenced by taxation.
VIII. Structural Exercises: Choose the correct answer.
( ) 1. The basic objective of all activities is _____ the highest level of consumption.
A. achieve B. achieved
C. to achieving D. achieves
( ) 2. The choice process ___ both at the level of the household.
A. occur B. occurs
C. occurring D. to occur
( ) 3. They must be responsive to the household demands ___ goods and services.
A. from B. on
C. for D. in
( ) 4. Analyses on the results of the choices ___ the concern of microeconomics.
A. being B. to be C. are D. is
( ) 5. The focus is the behaviour ___ the individuals and institutions in the economy.
A. from B. of
C. for D. in
VIII. Structural Error Identification Exercise: Circle A, B, C, or D, whichever is
incorrect.
( ) 1. But all acts are individual, individuals often make act for their organizations.
A
B
C
D
( ) 2. The study of the behaviour of households are only one part of economic analysis.
A
B
C
D
( ) 3. The results of economic performance can be measure in terms of production.
A
B
C
D
( ) 4. The gross national product make up the market value of all goods and services.
A
B
C
D
( ) 5. This is make of all income earned by the owners of the productive factors.
A
B
C
D
(Exercises composed by Fr. B. Alip)

22

WORKSHEET VI
BUSINESS ETHICS
I. Reading Text: Read and comprehend the following text.
BUSINESS ETHICS
In the study of economy business ethics is a relatively new subject. No wonder it
is difficult to find an encylopedia which includes it as one of its entries. What is business
ethics, then? It is popularly known as the application of a moral judgment to a business.
However, what is a moral judgment? Why is it to be applied to a business? Is a business
not a value-free enterprise? How can one decide that a particular business activity is
ethical or unethical? The above definition undoubtedly does not provide ready-made
answers for these questions.
A moral judgment is an act of evaluation which tells what is right or wrong, good
or bad on the basis of a particular system of values. The product of the act can be either
to prohibit or to encourage a particular practice. What sort of system of values is to be
referred to? The system of values should unquestionably be the one that promotes
disinterestedness, sensitivity to harm and benefit and tolerates no vested interests and
subordination to any authoritative bodies. In what way does a moral judgment engage
itself in busisness?
The meeting point between a moral judgment and a business lies in what people
call as society. As it is widely known, society is composed of people who own common
ends and try to achieve them by organizing themselves under a system of institutions:
educational, economic, cultural, and political. The legitimacy of the existence of these
institutions is attributable to their contribution to the attainment of such societys ends as
common good, mutual help, adequate standards of living. In other words no institution is
allowed to stand in the way to the accomplishment of the ends.
As part of an economic institution a business is not an exception. As a human
activity which produces goods and services and distributes them to the members of
society it should ensure that its organization, policies, and behaviour do not run counter
to the good of the members of the society and society as a whole. A business cannot
continue producing when it causes severe pollution, neglects the need of its employees
for being fully human, or exploits the ignorance of the public. As such a business cannot
be said to be value-free, conforming to its own course of action and pursuing profits only.
In its operation, then, it should put the above system of values into practice.
In reality, however, it is not like counting fingers to determine whether or not a
particular business practice is ethical. It is tenable for a business does not exist in static
circumstances. What is morally right in the past may be wrong at present or in the future.
Therefore, business ethics becomes inevitable in the field of economics. It is in fact not
merely concerned with the application of moral standards to business as lots of people
think but it also rigorously studies the ethicality of any business practice.
(Source: Velasquez, M. G. 1982. Business Ethics: Concepts and Cases. New York:
Prentice-Hall, Inc.)

23

II. Word Study: Write the suitable Indonesian translation next to each. Note that a word
may have several meanings. Therefore, choose the one which is suitable.
1. wonder
11. promote
21. legitimacy
2. entry
12. disinterestedness
22. attributable
3. popularly
13. harm
23. mutual
4. judgment
14. vested
24. adequate
5. value-tree
15. subordination
25. accomplishment
6. enterprise
16. authoritative
26. severe
7. undoubtedly
17. engage
27. ignorance
8. ready-made
18. lie
28. conform
9. prohibit
19. composed
29. circumstance
10. unquestionably
20. common
30. rigorously
III. Text Analysis: If you read a text, you must pay attention to the title and the
organization of the text. Answer these questions to discover how the text is organized.
1. Referring to the title, what is the above text about?
Answer:____________________________________________________________
2. What is the main idea of the first paragraph?
Answer:___________________________________________________________
3. What does the term then in the fourth paragraph express?
Answer:____________________________________________________________
4. What does the expression therefore in the last paragraph introduce?
Answer:____________________________________________________________
5. What dose the last paragraph contain?
Answer:___________________________________________________________
IV. Definitions: Define the following terms based on the text.
1. Business ethics:
English:____________________________________________________________
Indonesian:________________________________________________________
2. Moral judgment:
English:____________________________________________________________
Indonesian:_________________________________________________________
3. Society:
English:____________________________________________________________
Indonesian:_________________________________________________________
V. Translation: Translate the following sentences into Indonesian.
1. It is popularly known as the application of a moral judgment to a business.
Answer:___________________________________________________________
2. Is a business not a value-free enterprise?
Answer: ___________________________________________________________
3. The product of the act can be either to prohibit or to encourage a particular practice.
Answer:__________________________________________________________
4. In what way does a moral judgment engage itself in business?
Answer:___________________________________________________________

24

5. The meeting point lies in what people call as society


Answer:__________________________________________________________
6. No institution is allowed to stand in the way to the accomplishment of the ends.
Answer:__________________________________________________________
7. Business cannot be said to be value-free, conforming to its own course.
Answer:__________________________________________________________
8. In its operation, business should put the above system of values into practice.
Answer:__________________________________________________________
9. It is tenable for a business does not exist in static circumstances.
Answer:__________________________________________________________
10. What is morally right in the past may be wrong at present or in the future.
Answer:__________________________________________________________
VI. Reading Comprehension and Writing Practice: Answer the following questions in
English.
1. Why is it not easy to find an account of business ethics?
Answer:__________________________________________________________
2. How does one come to what is right or wrong?
Answer:_________________________________________________________
3. What accounts for the existence of social institutions?
Answer:___________________________________________________________
4. Under what ciscumstances does a business stop producing?
Answer:_________________________________________________________
5. Does what is morally right remain permanent? Why?
Answer:__________________________________________________________
VII. Reading Comprehension Multiple-Choice Test: Choose the most correct answer
based on the text.
1. ( )The word its in the second sentence of the first paragraph refers to _______ .
A. economy B. a subject C. an encylopedia
D. business ethics
2. ( ) Business ethics is ____________of economics
A. part
B. a synonym
C. the target
D. the old concern
3. ( ) A moral judgment ________ evaluation.
A. avoids
B. gives
C. differs from D. recieves
4. ( ) A moral judgment should consider______ .
A. prejudice B. a mere reasoning C. regulations only D. fairness
5. ( ) The members of society should give a priority to _______ends
A. individual B. public
C. primordial
D. sectarian
6. ( ) Social institutions are not expected to ______ the attainment of social ends.
A. hinder
B. facilitate
C. support
D. contribute to
7. ( ) The expression such as in the third paragraph is used to introduce ______ .
A. examples
B. a contrast
C. a summary
D. a comparison
8. ( ) A business is assumed not to be ______to a society.
A. an instrument
B. an enemy
C. a partner
D. a facilitator
9. ( ) Business and ethics are expected to be _____ .
A. oppositional B. mutually exclusive
C. interdependent D. competitive
10.( ) In a modern age like ours business ethics does not tend to be _____ .
A. optional
B. inevitable
C. strategic
D. crucial

25

VIII. Structural Exercises: Choose the correct answer


1. ( ) Business ethics ______to be studied by students of economics.
A. are
B. have
C. has
D. must
2. ( ) _____is interesting to study business ethics today.
A. She
B. Economics
C. It
D. People
3. ( ) The product of the act ________ either to encourage a particular practice.
A. can been B. will
C. can be
D. can have
4. ( ) In what way does a moral judgment engage _______ in business?
A. itself
B. it
C. it self
D. herself
5. ( ) The meeting point ______ in what people called as society
A. lied
B. laid
C. lay
D. lain
6. ( ) People achieve their ends by organizing themselves _____a system of
institutions.
A. with
B. in
C. over
D. under
7. ( ) A business cannot continue _______ when it exploits the ignorance of the public.
A. products B. produces C. producing D. produced
8. ( ) Business cannot be said to be value-free, ... to its own course of action.
A. to be conformed B. be conforming
C. conform D. conforming
9. ( ) It is not easy to determine ... or not a particular business practice is ethical.
A. if
B. that
C. what
D. whether
10. ( ) It also ... studies the ethicality of any business practice.
A. with rigor B. rigorous
C. rigorly
D. in rigor
IX. Structural Error Identification Exercise: Circle A, B, C, or D, whichever is
incorrect.
1. ( ) In the study of economy business ethic is a relatively new subject.
A
B
C
D
2. ( ) It is difficult to find an encylopedia which include it as one of its entries.
A
B
C
D
3. ( ) A moral judgment is an act of evaluation which tells what are right or wrong.
A
B
C
D
4. ( ) In what way does a moral judgment engages itself in business?
A
B
C
D
5. ( ) As widely known, society is composed with people who own common ends.
A
B
C
D
6. ( ) No institution is allow to stand in the way to the accomplishment of the ends.
A
B
C
D
7. ( ) A business cannot continues producing when it causes severe pollution.
A
B
C
D
8. ( ) In their operation, then, business should put the above system into practice.
A
B
C
D
9. ( ) It is tenable for a business does not exist in a static circumstances.
A
B
C
D
10. ( ) What is morally right in the past maybe wrong at present or in the future.
A
B
C
D
(Composed by F.X. Siswadi)

26

WORKSHEET VII
CORPORATION: THE CONCEPT AND HISTORY
I. Reading Text: Read and comprehend the following text.
CORPORATION: FEATURES AND HISTORY
A Corporation
A corporation is a business where many people are organized with labor and
capital combined in a single venture. They are allowed to join or leave the venture at
any time, but the other members still can carry on the business. As a legal entity, a
corporation may sue or be sued without any personal effect on the members. In the past,
corporations were profit-oriented firms. However, now they can be other types of
organizations such as educational, scientific, recreational, charitable, and even religious
organizations. Cities and towns incorporate themselves and behave like business
corporations. Similarly, some government services can be in a corporate form, for
example, the Federal Deposit Insurance Corporation and the Tennessee Valley Authority.
Development of the corporation
The corporation has developed from two related but different traditions. The first
is the traditional tendency of people to join together in associations and conduct mutually
beneficial activities. Thus, members help each other. The second tradition was when the
chartered company was established in western Europe in the late Middle Ages. The first
modern corporations were the great English trading companies of the 16 th and 17th
centuries, chartered by the crown by act of the British Parliament. These companies had
legal rights and obligations separate and distinct from that of their individual members.
By the end of the 17th century English lawyers had devised a new form of corporate
organization where no act of Parliament nor permission of the monarch was required.
In the United States, after it gained freedom from Britain, corporations were
established on an individual basis by state legislatures. However, public dissatisfaction
with this system grew because it placed a staggering burden on state legislatures.
Competing firms were jealous of the special privileges granted to some corporations; and
special privileges were a concept alien and unacceptable to a democratic society. The
result was a shift toward a statute under which any group of persons could achieve
corporate status by satisfying certain legal requirements.
Features of the corporation
A corporation is different from other forms of business enterprise. A sole
proprietorship is owned by one person, while a partnership belongs to an association of
two or more persons. A corporation does not belong to a particular person or association
but to its stockholders, which can be anybody.
Unlike the other forms of business, a corporation has a limited liability. The
stockholders are not legally responsible for the corporations debts. Therefore, their
personal belongings are safe from the corporations debts and failure. A corporation is
also a legal entity separate from its owners. Therefore, it can sue or be sued by its
creditors.
(Adapted from Groliers Encyclopedia of Knowledge, Danbury Conn: Grolier Inc., 1991:
265-6)

27

II. Word Study: Write the suitable Indonesian translation next to each. Note that a word
may have several meanings. Therefore, choose the one which is suitable.
10. corporation
11. mutually
21. staggering
11. venture
12. chartered
22. jealous
12. join
13. established
23. privilege
13. carry on
14. crown
24. unacceptable
14. sue
15. distinct
25. stature
15. effect
16. individual
26. requirement
16. profit
17. devise
27.sole proprietorship
17. firm
18. monarch
28. partnership
18. charitable
19. gain
29. liability
19. behave
20. legislature
30. entity
III. Text Analysis: If you read a text, you must pay attention to the title and the
organization of the text. Answer these questions to discover how the text is organized.
1. Based on the title, what is the above text about?
Answer: ______________________________________________________________
2. What is the first paragraph about?
Answer: ______________________________________________________________
3. Why are the FDIC and the Tennessee Valley Authority mentioned in the text?
Answer: ______________________________________________________________
4. Why are the second and third paragraphs in the past tense?
Answer: ______________________________________________________________
5. What does the word their in the third sentence of the last paragraph refer to?
Answer: ______________________________________________________________
6. What does the connector therefore in the last paragraph introduce?
Answer: ______________________________________________________________
IV. Translation: Translate the following sentences and phrases into Indonesian.
1. They are allowed to join or leave the venture at any time
Answer: ______________________________________________________________
2. Cities and towns incorporate themselves and behave like business corporations.
Answer: ______________________________________________________________
3. The companies had legal rights and obligations distinct from that of their individual
members.
Answer: ______________________________________________________________
4. English lawyers devised a new form of corporate organization where no act of
Parliament nor permission of the monarch was required.
Answer: ______________________________________________________________
5. In the United States corporations were established on an individual basis by state
legislatures.
Answer:_______________________________________________________________
6. However, public dissatisfaction with this system grew.
Answer: ______________________________________________________________
7. This system placed a staggering burden on state legislatures.
Answer: ______________________________________________________________

28

8. Competing firms were jealous of the special privileges granted to some corporations.
Answer: ______________________________________________________________
9. Special privileges were a concept alien and unacceptable to a democratic society.
Answer:______________________________________________________________
10.Therefore, their personal belongings are safe from the corporations debts and failure.
Answer: ______________________________________________________________
V. Comprehension and Writing Practice: Answer the following questions in English.
1.Will a corporation die when the founders do? Why?
Answer: ______________________________________________________________
2. Which firms started the business form of corporation?
Answer: ______________________________________________________________
3. What spirit has encouraged the foundation of a corporation?
Answer: ______________________________________________________________
4. Did corporations begin in Europe or the United States? Explain why.
Answer: ______________________________________________________________
5. How is a corporation different from other forms of business enterprise?
Answer: ______________________________________________________________
VI. Comprehension Multiple Choice Test: Choose the correct answer based on the text.
1. ( ) In a corporation people combine___ for a business activity.
A. a venture B. a business
C. resources
D. an organization
2. (

) A corporation debt is the responsibility of the ___.


A. owners
B. members C. corporation itself D. founders
3. ( ) Corporations were first established for ___ organizations.
E. charitable
B. religious
C. profit-oriented
D. recreational
4. ( ) ___ cannot be organized into corporations.
A. Cities
B. Government services C. Towns
D. Personal businesses
5. ( ) Traditionally, people like to ___. A. conduct businesses B. help one another
C. charter companies D. trade companies
6. ( ) In the past Britain, corporations were licensed by the ___.
A. companies B. the government C. individual members D. tradition
7. ( ) In the past US, some corporations unfairly received ___.
A. rights
B. obligations C. special privileges D. a staggering burden
8. ( ) In the modern US, corporations must meet ___.
A. special privileges B. an alien concept C. legal requirements D. a statute
9. ( ) A sole proprietorship is owned by ___.
A. a single person B. individuals C. nobody D. its stockholders
10. ( ) One benefit of a corporation is its ___.
A. limited liability B. limited profit
C. failure D. debts
VII. Structural Exercise: Choose the correct answer.
1. ( ) They are allowed to ___ the venture any time.
A. enter
B. joining
C. leaving
2. ( ) People may incorporate ___ to form a corporation

29

D. joined

3. (
4. (
5. (
6. (
7. (
8. (
9. (
10. (

A. themselves
B. each other
C. theirselves D. they
) The corporation has ___ from two different traditions.
A. grow
B. growing
C. grew
D. grown
) People like conducting ___ activities.
A. mutually benefit
B. mutual beneficial
C. mutually beneficial
D. mutual benefit
) A corporation first ___ in Europe.
A. starts
B. has started
C. starting
D. started
) ___ it gained freedom from Britain, the US was a British colony.
A. After
B. Before
C. When
D. While
) Consumer satisfaction ___ the company product is essential for its growth.
A. of
B. to
C. with
D. about
) In time of crisis, ___ firms have to find ways to survive.
A. competition
B. competing
C. compete D. to compete
) A corporation is different from ___ sole proprietorship.
A. the
B. some
C. an
D. a
) Partnerships are easy to set up ___, there are many of them everywhere.
A. However
B. Because
C. Therefore D. While

VIII. Structural Error Identification Exercise: Circle A, B, C, or D, whichever is


incorrect.
1. ( ) As legal body, a corporation may sue or be sued.
A
B
C
D
2. ( ) Cities incorporate themselves and behaves like business corporations.
A
B
C
D
3. ( ) The first is traditional tendency to join in associations.
A
B
C
D
4. ( ) Public dissatisfaction grew because placed a heavy economic burden.
A
B
C
D
5. ( ) The result be a shift toward a statute which anybody must satisfy.
A
B
C
D
6. ( )They allowed to join the venture any time.
A
B
C
D
7. ( ) Companies have legal rights and obligations separate of their members.
A
B
C
D
8. ( ) A partnership belong to an association of two or more persons.
A
B
C
D
9. ( ) This worldwide problem is complicate by a lack of clean water.
A
B
C
D
10. ( ) Stockholders are not legally responsible for
the corporations debts.
A
B
C
D
(Composed by Fr. B. Alip)

30

WORSHEET VIII
BUSINESS AND THE PRICING POLICY
1. Reading Text: Read and comprehend the following text.
BUSINESS AND THE PRICING POLICY
When people run a business, they may be involved in the production, distribution
or exchange of a product. Among others, profit is one of the primary goals of conducting
a business. Charity organizations, being non-profit, do not put profit as the priority of the
goals, however.
Profit is made when the production cost is lower than the selling price of the
product. Production costs include many elements, such as the cost of raw materials,
labour and promotion. Theoretically, profit can be increased if production costs are
lowered. Lowering the cost of raw materials is not always possible because they are often
beyond the business internal control. Raw materials are often provided by supplier
companies which also attempt to make profits. In many developing countries, the labour
cost is often pushed down to the minimal, which can result in labour disputes, unrest or
even strike. Many countries have been accused of allowing sweat-shop industries, where
workers are paid so little. The motive of this policy is often to maintain the
competitiveness of the product. In some countries, products of sweat-shop industries have
been boycotted since low pay is considered as human exploitation.
To maximize the profit, therefore, a business might increase the selling price of its
product. This policy works well if the product is highly demanded by consumers and a
similar product is not produced by any competing firm. It also works well if the product
has captive buyers, those who cannot avoid the purchase. Certain services like
transportation in remote places or basic services provided by the government often
exploit their captive buyers. Similarly, people still buy fuel no matter how expensive it is
because it is needed for their daily transportation. The use of fuel can be economized, but
it cannot be completely stopped. Indonesians, for example, still buy rice though the price
has been 50 percent increased because they can do without it.
In free-market economy buyers have more freedom to exercise their choice in
buying goods. To survive economically, a product should be competitive. A business,
therefore, often lower the selling price of its product below the average price of similar
goods. Pricing below the market, as it is called, is often practiced by new market players.
This strategy is needed to win a market share in the economy. However, most companies
price with the market in order to maintain the profit margin without losing potential
buyers. An established company with a strong market share is more confident in charging
a price higher the average. Pricing above the market allows a larger profit margin and the
sale is still successful if the product has a good image among the public. People still buy
expensive and luxurious cars because they are reliable and prestigious. For products of
average quality, pricing above the market is an economic suicide.
Most companies try to get a reasonable amount of profit for their products.
Therefore, they should lower the production cost and maintain the right selling price.

31

Choosing the appropriate pricing policy: below, with, or above the market, is absolute for
the sustainability of their business.
II. Word Study: Write the suitable Indonesian translation next to each. Note that a word
may have several meanings. Therefore, choose the one which is suitable.
1. charity
2. non-profit
3. goal
4. include
5. theoretically
6. lower
7. beyond
8. internal
9. control
10. attempt

11. push down


12. result in
13. dispute
14. unrest
15. strike
16. accuse
17. sweat-shop industry
18. exploitation
19. competing
20. captive buyers

21. remote
22. fuel
23. no matter
24. economize
25. do without
26. exercise
27. market share
28. confident
29. public
30. suicide

III. Text Analysis: If you read a text, you must pay attention to the title and the
organization of the text. Answer these questions to discover how the text is organized.
1. Based on the title, what is the above text about?
Answer:_______________________________________________________________
2. Why are charity organizations mentioned in the first paragraph?
Answer:_______________________________________________________________
3. What is the topic of the second paragraph?
Answer:_______________________________________________________________
4. Why are Indonesians mentioned in the third paragraph?
Answer: ______________________________________________________________
5. Why are expensive and luxurious cars mentioned in the fourth paragraph?
Answer: ______________________________________________________________
IV. Definitions: Define the following terms based on the text.
1. Sweat-shop industries
English : _____________________________________________________________
Indonesian: ___________________________________________________________
2. Captive buyers
English: ______________________________________________________________
Indonesian:____________________________________________________________
3. Pricing below the market
English: ______________________________________________________________
Indonesian : ___________________________________________________________
V. Translation: Translate the following sentences into Indonesian.
1. Charity organizations, being non-profit, do not put profit as the priority of the goals.
Answer:_______________________________________________________________
2. Theoretically, profit can be increased if production costs are lowered.
Answer: ______________________________________________________________

32

3. The motive of this policy is often to maintain the competitiveness of the product.
Answer: ______________________________________________________________
4. To maximize the profit, a business might increase the selling price of its product.
Answer: ______________________________________________________________
5. It also works well if the product has captive buyers
Answer: ______________________________________________ ________________
6. Similarly, people still buy fuel no matter how expensive it is.
Answer: ______________________________________________________________
7. To survive economically, a product should be competitive.
Answer: ______________________________________________________________
8. This strategy is needed to win a market share in the economy.
Answer: ______________________________________________________________
9. For products of average quality, pricing above the market is an economic suicide.
Answer: ______________________________________________________________
10. Therefore, they should lower the production cost and maintain the right selling price.
Answer: ______________________________________________________________
VI. Comprehension and Writing Practice: Answer the following questions in English.
1. Why are charity organization labeled as non-profit organizations?
Answer:_____________________________________________________________
2. How can a company make profit from its business?
Answer: _____________________________________________________________
3. Why cant production costs be easily lowered?
Answer: _____________________________________________________________
4. Why are products of sweat-shop industries often boycotted?
Answer: _____________________________________________________________
5. Which people cannot avoid buying a certain product?
Answer: _____________________________________________________________
6. Why do people always buy fuel though it is expensive?
Answer: _____________________________________________________________
7. Mention three pricing-policy options mentioned in the text.
. Answer: _____________________________________________________________
8. Why do people still buy luxurious cars though they are expensive?
Answer: _____________________________________________________________
9. Which companies tend to price above the market?
Answer: _____________________________________________________________
10.When is pricing above the market an economic suicide?
Answer: _____________________________________________________________
VII. Comprehension Multiple-Choice Test: Choose the most correct answer based on
the text.
1. ( ) Profit is one of the primary goals of conducting a ___.
A. company B. business
C. charity organization D. product
2. ( ) Production costs include the cost of ___, labour and promotion.
A. profit B. business C. raw materials D. workers salaries
3. ( ) ___ can be increased if production costs are lowered.

33

4. (
5. (
6. (
7. (
8. (
9. (
10. (

A. Costs B. Business C. Selling price D. Profit


) What are often supplied by other companies?
A. Workers B. Production costs C. Raw materials D. Products
) What can cause labour dispute?
A. Labour unrest B. Labour strike C. Low pay D. Raw materials
) An example of human exploitation is ______
A. Labour unrest B. Labour strike C. Low pay D. Competitiveness
) Indonesian people cannot do without _______.
A. cars B. rice
C. labour strike D. price increase
) In a free-market economy people have more ___________
A. cars B. rice
C. freedom D. buyers
) Lower prices are often adopted by __________
A. developing countries B. new producers C. car factories D. farmers
) A good pricing policy is required so that a business can ____
A. produce goods B. survive C. decrease production costs D. get a good image

VIII. Structural Exercises: Choose the correct answer.


1. ( ) Profit is ___ when the production cost is lower than the selling price.
A. make B. made C. making D. to make
2. ( ) Profit can be increased ___ production costs are lowered.
A. if B. so
C. unless
D. until
3. ( ) Raw materials are often provided ___ supplier companies.
A. for
B. by
C. to D. because of
4. ( ) Certain products are ___ demanded by consumers.
A. very
B. many
C. very much
D. rare
5. ( ) The use of fuel can be economized ___ it cannot be completely stopped.
A. before B. though C. so D. after
6. ( ) To survive economically, products should ___ competitive.
A. must be
B. remain be C. be
D. been
7. ( ) Pricing below the market has often ___ practiced by new market players.
A. is called B. be C. been D. had
8. ( ) This strategy is needed ___ win a market share in the economy.
A. in order to
B. so that C. for
D. in order that
9. ( ) Pricing above the market ___ a larger profit margin
A. brings B. bring C. bringing D. to bring
10. ( ) Low can ___ labour disputes
A. to result from B. resulting in C. resulted in D. result in
(Composed by Fr. B. Alip)

34

Pengantar
Bahasa Inggris adalah bahasa yang mudah, apalagi banyak kesamaanya dengan
bahasa Indonesia. Kosa kata bahasa Inggris juga banyak dipinjam atau begitu saja
dipakai dalam bahasa Indonesia. Ini memudahkan kita memahami bahasa Inggris. Katakata seperti efisien, efektif, abstrak, konkrit, aset, liabilitas dan lain-lain, biasa kita
jumpai dalam bahasa Indonesia. Ada banyak kata yang sudah berubah makna maupun
bentuknya, tetapi biasanya masih bisa kita lacak. Kalau tak yakin, seyogyanya kita
menggunakan kamus. Kata yang lazim dipakai sehari-hari mungkin cukup 1000 kata,
dan dengan 3000 kata komunikasi ilmiah sudah dapat berjalan dengan baik. Dalam
memahami bacaan, kita berusaha untuk memahami kata sebanyak mungkin karena
dalam bahasa Inggris makna bahasa sangat banyak didominasi oleh makna kata.
Selain kosa kata, kita perlu mencermati unsur-unsur tatabahasa berikut ini:
1. Urutan frasa dalam kalimat mirip dengan bahasa Indonesia, yaitu: Subjek
Predikat Objek Keterangan. Perhatikan contoh berikut:
The manager decided to install
ten computers in the office.
Subjek
Predikat
Objek
Keterangan
Manager memutuskan untuk memasang sepuluh komputer di kantor.
2. Urutan kata dalam frasa benda berkebalikan dengan bahasa Indonesia. Dalam
bahasa Indonesia, keterangan selalu di belakang. Dalam bahasa Inggris, keterangan
bisa di depan dan bisa di belakang. Perhatikan contoh berikut:
important economic issues masalah-masalah ekonomi (yang) penting
Bila keterangan di depan biasanya diantarkan oleh kata depan atau berujut klausa.
the issues in the meeting masalah-masalah dalam pertemuan itu
the issue that he mentioned masalah yang ia sebutkan
3. Kita harus mewaspadai bentuk pasif karena maknanya sangat berbeda dengan bentuk
aktifnya. Bentuk pasif dalam bahasa Inggris ditandai dengan bentuk kata kerja yang
dalam bentuk ketiga (past participle) dan, bila dalam klausa, diantarkan dengan bentuk
kata kerja to be. Pelaku, kalau ada, diantarkan oleh kata depan by.
The secretary sent the worker to the director.
Sekretaris mengirim pekerja itu kepada direktur.
(Sekretaris menyuruh pekerja itu menghadap direktur.)
The secretary was sent by the worker to the director.
Sekretaris dikirim pekerja itu kepada direktur.
(Sekretaris disuruh pekerja itu menghadap direktur.)
4. Dalam memahami bacaan kita juga perlu memahami organisasi gagasan dalam
suatu naskah. Konsep-konsep ilmiah biasanya diantarkan dengan definisi, penjelasan,
dan contoh. Setiap alinea memiliki gagasan dasar yang dikembangkan dalam alinea
tersebut. Perpindahan gagasan dilakukan dengan runtut dan logis.
Kita perlu juga mencermati kata-kata sambung yang menghubungkan gagasan satu
dengan lainnya. Kata sambung because menyatakan hubungan sebab-akibat. Kata
sambung although menyatakan gagasan yang bertentangan. Kata hubung similarly
menyatakan gagasan yang serupa. Kadang-kadang gagasan juga dirinci dengan kata
-kata seperti first, second, then, dan finally.

35

Akhirnya, bahasa bagi kita merupakan alat. Kita akan fasih dan lancar
menggunakannya bila kita rajin menggunakannya.
Penyunting

READING EXERCISES IN
ECONOMICS AND BUSINESS

OLEH
FRANCIS BORGIAS ALIP (Penyunting)
FRANSISCUS XAVERIUS SISWADI
JOHANES BAPTISTA GUNAWAN
LINDA VALENTINA BUDIMAN

SEKOLAH TINGGI ILMU EKONOMI YKPN


YOGYAKARTA
36

2014
SILABUS PERKULIAHAN BAHASA INGGRIS I
I. Semester/Jumlah SKS : Semester I/ 2 SKS
II. Pengajar: Dr. Fr. B. Alip, M.Pd, M.A., Dr. F.X. Siswadi, M.A.,
Scholastika Wedowati, S.Pd, M.Hum., Dewi Widiastuti, S.Pd., M.Hum
Sesko Saragih Hompuraja, S.S., M.Hum., Veronica Widi, S.Pd., M.Hum,.
Adiastialami Retno Putri, S.Pd., M.Hum.
II. Teks Wajib: Alip, Fr. B. (editor). Reading Exercises in Economics and Business.
IV. Teks Pembantu:
1.
Phillips, Deborah. 1996. Longman Preparation Course for the TOEFL.
New York: Longman Group UK Ltd.
2.
Echols, John M. & Shadily, Hassan, 1975. Kamus Inggris Indonesia.
Jakarta: PT. Gramedia.
3.
Hardjono, R, & Widyamartaya, A. 1993. Kamus Inggris Indonesia
6000, Yogyakarta: Kanisius.
V. Tujuan: Setelah mengikuti kuliah ini , mahasiswa mampu:
1. memahami bacaan tentang ilmu ekonomi dan bisnis
2. memahami struktur dasar bahasa Inggris
3. menguasai kosa kata dasar dan kosa kata yang berkaitan dengan bisnis.
4. mengenali bunyi bahasa Inggris dan kombinasinya
5. memahami berbagai wacana lisan.
VI. Penilaian: Nilai akhir mahasiswa ditentukan oleh skor ujian tengah semester (30%), skor ujian akhir
(30%), rerata skor tugas harian (20%) dan skor tugas lab (20%). Rentang nilai adalah sbb.: A 81%,
78 A- < 81, 74 B+ < 78, 70 B < 74, 66 B- < 70, 62 C+ < 66, 56 C < 62, 40 < D 56, E <
40.. Bila presensi kurang dari 75%, nilai akhir diturunkan satu tingkat. Mahasiswa tidak akan memperoleh
nilai dan tidak boleh mengulang pada semester perbaikan bila presensi kurang dari 50%.
VII. Deskripsi Matakuliah: Dalam bisnis modern kompetensi bahasa Inggris lisan maupun tertulis sangat
penting. Dalam bahasa Inggris I, kompetensi membaca dan mendengarkan dikembangkan. Kompetensi
lain (menulis dan berbicara) akan dikembangkan dalam Bahasa Inggris II. Kompetensi membaca
dikembangkan dalam kuliah (3 x 50 menit per minggu), sedangkan kompetensi mendengarkan
dikembangkan di Lab Bahasa (1 x 50 menit per minggu).

VIII. Topik:
Minggu I: Business and Human Welfare; Listening Diagnostic Pre-Test (P:3-9)
Minggu II: People and Employment; Listening Strategies: Second Lines, Synonyms
and Similar Sounds (P: 10-19)
Minggu III: Poor and Rich Countries; Listening Strategies: Conclusions & Passive
(P: 20-29)
Minggu IV: Money: History and Types; Listening Strategies: Negatives and Agreements
(P: 30-40)
Minggu V: Business Concepts; Listening Strategies: Uncertainty, Suggestions, Surprises
and Wishes (P: 41-48)
Minggu VI: Business Ethics; Listening to Conditions, Multiple Verbs, and Idioms
(P: 49-59)
Minggu VII: Corporation: Features & History; Listening to Topics, Questions and
Answers (P: 59-69)
Minggu VIII: Business and the Pricing Policy; Listening to Topics, Questions, and
Conclusions (P: 70-80)
37

Minggu IX: Standardized Test Exercises; Listening Post-Test (P: 81-83)


Yogyakarta, 8 September 2014 (Fr. B. Alip)

38