CHAPTER 2

ECONOMY

LEARNING OBJECTIVES:
1. Able to comprehend the text about economy
2. Able to identify the vocabularies
3. Able to make sentance based on the vocabulary given
4. Able to make use of simple present tense
5. Able to identify the language function of direct and indirect speech

Please fill in the blanks with the suitable words and present it in front of the class by using
your own words!

Market is a meeting place for . (1) and sellers for doing a transactions or purchase.
There are two kinds of markets, they are traditional market and modern market.

Traditional market is a place for trading activity where people can do a .. (2)
process. There are a lot of people selling the same kind of goods. They sell some vegetables,
fruits, meats, toys, accessories, and many others. In the traditional market, the buyers can do a
bargaining process thus they can get the lower (3)for a certain goods. Those things can
be regarded as the positive things offered by the traditional market. However, on the other side, if
the buyers do not select the goods well, they probably can get the worse quality goods. Besides,
the cleanliness of the place as well as the goods sold are also cannot be guaranteed.

The other kind of market that we can find easily is modern market. It is a place for
trading activity. Different from traditional market, in the modern market buyers take goods by
themselves then they pay it in cashier. (4)in the modern market also can be regarded as a
recreation. Thus, people like to be in the modern market for long time. Similar to the traditional
market, modern market also sell many things such as vegetables, fruits, rice, fish, many other
things. There is no doubt that the (5)of the goods sold here are all in good quality. The
cleanliness of the place as well as the goods is guaranteed. However, the price of the goods is
more expensive if it is compared to the traditional market.
 Find the meaning of each word and make a
sentence!

1. bargaining,
2. price,
3. quality
4. buyers,
5. shopping,

Vocabulary Focus

Find the meaning of each word and make sentence based on the word!

- Market - Loan
- Traditional market - Deposit
- Modern market - Money
- 2Supermarket
ACTIVITY - Bargain
- Bank - Economy
Please read the following report text carefully!

MARKET
Market is a place where sellers and buyers meet. Market is categorized into 2 types,
namely traditional and modern one. Market is classified by ability to negotiate the price.
Traditional market is a place for traditional trader meets the buyer. There are many
traders held their stocks in this traditional market. Negotiation happens here although the price is
cheap. There are no many facilities available for buyers like toilets, credits transaction, etc. They
pay with cash without credit card. The building is usually traditional. It is dirty, mess and not
comfortable. Usually, the commodities sold are requirement of food like rice, sugar, edible oil,
tea, etc. But, the trade in this market is homogeny between one trader and others.
The modern market has modern facility to facilitate the buyers to do transaction like
credit card. All prices are fixed in this market and there is no negotiation here. The commodity
which is sold there are also requirement of food, but you can find many kind, modern, and more
complete goods. There is only one trade, but many workers there. Shopping in the modern
market is an interesting activity to do. Buyers usually shop in modern market for a long time
since the atmosphere in the modern market is comfortable.
A. Write T for true and F for False!
1. There are two kinds of market ..........
2. People usually like shopping in the modern market for such a long time ..........
3. Traditional market is in a mess ..........
4. Buyer can pay both by cash and credit in the modern market ..........
5. There are many sellers in the modern market offering many kinds of goods ..........

B. Lets Check Your Understanding!

1. What is the difference(s) between traditional and modern market?
2. What is the similarity(s) between traditional and modern market?
3. How can buyers pay in the modern market?
4. Why is shopping in the modern market interesting?
5. What is your opinion about the mushrooming existence of modern market nowdays?

Read the following text and then answer the following questions!

A BANK
A bank is a place of business dealing in
money and credit. It accepts money from depositors.
A depositor is a person who deposits or places his
money in a bank. The bank uses this money to make
loans, then it will get the interest.

There are two types of banks. One is a

commercial bank and the other is a central bank. The
commercial bank is the one to which the word bank usually refers. A central bank does not
accept deposits, but commercial bank does. Furthermore, the central bank does not operate with
a profit motive. The primary aim of the central bank is to achieve the objectives of the economic
policy of the government. While the commercial bank, on the other hand have profit earning as
their primary objective.

A. Check Your Understanding!

 1. What is a bank?
2. Who is a depositor?
3. What is the role of a depositor for the
development of a bank?
4. How many kinds of bank are there?
5. What is the difference(s) of commercial and
central bank?

B. Write T for true and F for false

1. There are two kinds of bank
........
2. Bank accepts money from depositors ........
3. Central and commercial bank are the same ........
4. The only one difference of central and commercial bank is on the profit objective
5. Commercial bank is more familiar to the society

Activity 8
Rearrange the following jumble sentences into a good order!
1. A traditional market is the type of market where people can bargain the prices.
2. They are fruits, vegetables, meat and fish, spices, dry good and household items.
3. At the glances, the market may seem to be disorganized mess.
4. The items sold in traditional market are basically the same.
5. On the second floor, people can buy meat and fish, fruits, vegetables, and dry goods.
6. The sellers sell fruits and vegetables through the middle area. Meanwhile they sell dry
goods in the edge area of the second floor
7. On the first floor of the market, there are permanent kiosks and stall selling textile,
stationery, clothing, electronic goods, household appliances, gold shops, etc.

GRAMMAR FOCUS

Simple Present Tense

Simple present tense is a tense that is used to describe an action that is regular, true or normal.
We use the present tense:

1. For repeated or regular actions in the present time period.

Positive sentence
I take the train to the office.
The train to Berlin leaves every hour.
John sleeps eight hours every night during the week.
 Negative sentence
I dont take the train to the office
The train to Berlin doesnt leave every hour
Interrogative sentence
Do you take the train to the office?
Does the train to Berlin leave every hour?
2. For facts.
Positive sentence
The President of The USA lives in The White House.
A dog has four legs.
We come from Switzerland.
Negative sentence
The President of The USA doesnt live in The White House
We dont come from Switzerland
Interrogative sentence
Does the President of The USA live in The White House?
Do we come from Switzerland?
3. For habits.
Positive sentence
I get up early every day.
Carol brushes her teeth twice a day.
They travel to their country house every weekend.
Negative sentence
I dont get up early every day
Carol doesnt brush her teeth twice a day
Interrogative sentence
Do you get up early every day?
Does Carol brush her teeth twice a day?
4. For things that are always / generally true.
Positive sentence
It rains a lot in winter.
The Queen of England lives in Buckingham Palace.
They speak English at work.
Negative sentence
It doesnt rain a lot in winter
The queen of England doesnt live in Buckingham Palace
Interrogative sentence
Does it rain a lot in winter?
Does the Queen of England live in Buckingham Palace?

Language Function
Direct and Indirect Speech

We often have to give information about what people say or think. In order to do this you can use
direct or quoted speech, or indirect or reported speech.

Tense change
As a rule when you report something someone has said you go back a tense: (the tense on the left
changes to the tense on the right):

Table 2.2
No Direct Indirect
1. Present simple Past simple
She said, "It's cold She said it was cold.
2. Present continuous Past continuous
She said, "I'm teaching English online. She said she was teaching English
online.
3. Present perfect simple Past perfect simple
She said, "I've been on the web since She said she had been on the web since
1999." 1999.
4. Present perfect continuous Past perfect continuous
She said, "I've been teaching English She said she had been teaching English
for seven years." for seven years.
5. Past simple Past perfect
She said, "I taught online yesterday." She said she had taught online
yesterday.
6. Past continuous Past perfect continuous
She said, "I was teaching earlier." She said she had been teaching earlier.
7. Past perfect Past perfect
She said, "The lesson had already NO CHANGE - She said the lesson had
started when he arrived." already started when he arrived.
8. Past perfect continuous Past perfect continuous
She said, "I'd already been teaching for NO CHANGE - She said she'd already
five minutes." been teaching for five minutes.
Modal verb forms
1. will would
She said, "I'll teach English online She said she would teach English online
tomorrow." tomorrow.
2. can could
She said, "I can teach English online." She said she could teach English online.
3. must had to
She said, "I must have a computer to She said she had to have a computer to
teach English online." teach English online
4. shall should
 She said, "What shall we learn today?" She asked what we should learn today.
5. may might
She said, "May I open a new browser?" She asked if she might open a new
browser.