Answer these following questions, basing your answers on the text. (3 points for each)

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Faculty of Economics
Gadjah Mada University Yogyakarta
Mid Term Examination
2004

D avjD ate
Course
Duration
Lecturer

: W ednesdav /31 March 2004
. Enlish 2
: 90 Minutes
: Uivati Retno Sari, 5.5.

Reading Comprehension

WHAT IS BUSINESS?

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~--

Business is a word which is commonly used in many different languages. But
exactly what does it mean? The concepts and activities of business have increased in
modem times. Traditionally, business simply meant exchange or trade for things people
wanted or needed. Today it has more a technical definition. One definition of business is
the production, distribution, and sale of goods and services for a profit. To examine this
definition, we will ,lookat is various part~.
-~
<~ ~sr,-produ2tlon
is the cieati~n"'cl' services or the changing of materials into
products. One example is the conversion of iron one into materials into metal car parts.
Next these products need to be moved from the factory to the marketplace. This is known
as distribution. A car might be moved from a factory in Detroit to a car dealership in
Miami.
Third is the sale of goods and services. Sale is the exchange of a product or
service for money. A car is sold to someone in exchange for money. Goods a re products
which people either need or want; for example, cars can be classified as good. Services,
on the other hand, are activities which a person or group performs for another person or
organization. For instance, an auto mechanic performs a service when he repairs a car. A
doctor also performs a service by taking care of people when they are sick.
Business, then, is a combination of all these activities: production, distribution,
and sale. However, there is one other important factor. This factor is the creation of profit
or economic surplus. A major goal in the functioning of an American business company
is making a profit. Profit is the money 'that remains after all the expenses are paid.
Creating an economic surplus or profit is, therefore, a primary goal of business activity.
"

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Answer these following questions, basing your answers on the text. (3 points for each)
1. What is one modem definition of business?
2. What does production involve?

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3. What example of distribution is given in the reading? Can you think of another
example?
4. How does this modern meaning of business differ from the traditional one? What
factors have brought about these changes?
5. What is profit? In general, what do companies do with their profit?
Vocabulary Comprehension
Substitute appropriate terms for the italicized words or phrases in the sentences below.
(1 point for each)
advancement
consequently
careers
field aptitude
salary
variety
offer suitable
specialize in
1. Because data processing is a new and growing field, the opportunities for upward
movement are great.
2. There is a wide range of careers in the business world.
3. The employee quit his job because of the poor amount of money earned.
4. Business professions offer opportunities in the areas of management, marketing,
accounting, finance, and data processing.
5. A person may train in different types of management, such as personnel or
production management.
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Structure
Supply either the or a(n) in the blanks in these sentences. (No. 1-3 = 10 points)
1. Thereis shortage of bananas. shortage of bananas will continue for
some weeks.
--~.: ]h~e has been change of-governmenL_-cIDliige in government will
probably mean a change of policy. change of policy may lead to short
period of instability.

3. The speakersuggested-

specialcommissionto studyeconomicconditions.

He said that -

special commission should examine all aspects of national
economic life. commission should investigate demands of the workers
and the conditions under which they work.
Translation

Translate thesefollowing sentences into Indonesian (4 points for each)
1. Consequently, the opportunities for a business career have grown in variety and
-number.
2. We can see that the nature of a commodity remains the same, but its utility
changes.
3. In economic theory, 'labor' is any work undertaken in return for a fixed payment.
4. Labor is any work performed for an employer at a negotiated rate while profit is
the surplus which accumulates as a result of productive work.
5. A different kind of monopoly arises when a country, through geographical and
geological circumstances, has control over major natural resources or important

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services, as for example with Canadian nickel and the Egyptian ownership of the
Suez Canal.

Translate these/ollowing sentences into English (4 points for each)
1. Clear revitalize dengan double vitamins complex-nya bekerja dengan dua cara: 1)
Menghilangkan ketombe lebih baik dari sebelumnya, membersihkan, dan
mengembalikan keseimbangan kulit kepala Anda. 2) Secara aktif memberi nutrisi
pada setiap helai rambut Anda, membuatnya lembut senantiasa sehat dan penuh
vitalitas.
2. Pertemuan tersebut telah berlangsung sejak tiga jam lalu.
3. Perekonomian di Indonesia semakin terpuruk dikarenakan banyak kasus korupsi
yang diwarnai dengan nuansa politis.
4. Saya sudah menunggu Anda sejak satu jam yang lalu
5. Clear baru adalah shampoo anti ketombe pertama dengan formula unik double
vitamins complex (vitamin E complex + vitamin B5 complex) yang terbukti
bekerja untuk memberi nutrisi pada kulit kepala.

/

Faculty of Economics
Gadjah Mada University Yogyakarta
Final Examination
2004
\
DayjDate
Course
Duration
Lecturer

: Wednesday/9 June 2004
: ENGLISH 2
: 90 minutes
Ms. Ulyati Retno Sari

A. READING COMPREHENSION
Money is not only a means of exchange but is also a means of measuring
the value of men's labor. In economic theory, 'labor' is any work undertaken in
return for a fixed payment. The work undertaken by a mother in caring for her
children may be hard work, but it receives no fixed payment. It is not therefore
labor in the strict economic sense.
As a scientist, the economist is interested in measuring the services which people
render to each other. Although he is aware of the services which people provide for no
fin.ancial reward, he is not concerned with these services. He is interested essentially in
services which are measurable in terms of money payments of a fixed and/ or regular
nature. In economics, money is the standard by which the value of things is judged. T]:Us
standard is not a religious or subjective standard, but a objective and scientific one.
Human labor produces both goods and services. The activities of a farmworker
and a nurse. are very different, but both are measurable in terms of payment received.
Labor in thiS sense is not concerned with distinctions of social class, but simply with the
payment of wages in return for work. V\Thenwe talk about 'the national labor force'
however, we are thinking of all those people who are available for work within the.
nation, Le. the working population.
I
It should be noted that any persons engaged in private business is not paid a
fixed sum for his activities. He is self-employed and his actiVities are partly those of an
employer and partly those of an employee. If however he employs an assistant, to whom
he pays a fixed wage, his new employee provides labor in return for payment. He
receives his wages, while his employer receives the surplus (large or small) form ~e
whole business. This surplus is the reward of private enterprise and is known as 'profit'.
Answer the following

questions according to the text above. (2 points for each)

1. What is money, in addition to being a means of exchange?
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2. What is 'labor' in economic theory?
3. Why is a mother's work not 'labor'?
4. What is labor (in the economic sense) not concerned with?
5. What do~s the employer receive instead of wages?

B. STRUCTURE
1. PREPOSITION
Insert a suitable preposition in each of the blanks in these sentences! (1 point for each)
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

He is interested - economics.
He is not concerned non essential commodities.
The demand _bananas
will probably increase.
The supply cigarettes does not usually fluctuate.
The consumer's need such commodities is well known.
There was a change the quantity of material supplied.
He paid quite a lot of money - that car.
The American economic system is based - capitalistic principles.
Most citizens conformthe law of the country in which they live.
basic
Non-essential commodities like chocolates cannot be compared necessities like shelter.
.

2 ACTIVE & PASSIVE SENTENCES
Change the sentences below into active sentences (2 points for each)
1. All values in the "economic system are measured in terms of money.
2. Valuable metal has generally been replaced by paper notes.
Change the sentences below into passiI1e sentences (2 points for each)
1. We call the type of diagram' a histogram'.
2. Government issues these notes and authorized banks.

C. TRANSLATION
1. Translate these sentences below into good Indonesian. (20 points)
Banks are closely concerned with the flow of money into and out of the economy. They
often co-operate with governments in efforts to stabilize economies and to prevent
inflation. They are specialist in the business of providing capital, and in allocating funds
or credit. Banks originated as places to which people took their valuables for
safekeeping, but today the ~banks
of the world have many functions in addition to
acting as guardians of valu~
private possessions.

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2. Translate the sentences below iV;logood English. (15 points)

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Kebutuhan-kebutuhan
dasar oran~ itu sebenarnya sederhana, namun setiap orang juga
memiliki keinginan pribadi tambahan yang mungkin kompleks. Ke~-keing4ta
ini
dipuaskan dalam berbagai cara yang berbeda~bil,
sebotol "whjsky", serta koran
memuaskan keinginan-keingina yang berbeda,~eperti
sebotol"whislqDidak
bisa
begitu saja menggantikan keberadaan sebuah mobil.

D. WRITING
Write an unsolicited application letter (27 points).

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