Bîrliba Ana-Maria

ECTS, gr 1, anul 1
TEMA PE PARCURS
PE SEMESTRUL AL II-LEA
1. Read the following text about Public finance:

People, the disadvantaged ones in particular, may receive money from the government as well
as a form of social security or welfare. For instance, the government pays out pensions,
unemployment benefit, disability allowances, child allowance, grants and scholarships to
help students pay for studying. Recipients draw a pension, an unemployment benefit.
In order to be able to redistribute some money, the government has to form the budget first
and cover its expenses according to its fiscal policy. The government levies the money it needs
from citizens through various taxes. Income tax is the tax collected on individuals’ wages and
salaries. Inheritance tax is levied on what people inherit from others as legacy. The tax
collected on inheritances and donations are capital transfer taxes.
Companies pay corporation tax (US income tax) on their business profits. Income tax and
corporation tax are direct taxes. VAT or value added tax is paid at each stage of production on
most goods and services when they are brought or purchased. When certain goods such as
alcohol, tobacco or petrol are sold within a country, excise duties have to be paid collected at
ports and airports. Sales taxes (VAT), custom duties, excise duties are indirect taxes. If you
pay too much tax, you are entitled to be given some money back, as tax rebate. The amount of
tax to be paid may be reduced to a legal minimum by tax avoidance. Tax havens are those
countries where taxation is very low and, therefore, attract investment from foreigners who wish
to escape paying tax.
When public spending exceeds receipt from income taxes, VAT, and so on, the government
issue bonds. Long-term government (six months) bonds are known as gilt-edged securities (or
gilts) in the UK, and treasury bonds in the USA. Central banks also sell the money supply. To
reduce the money supply, they sell these bills to commercial banks, and withdraw the cash
received from circulation; to increase the money supply, they buy them back paying with newly
created money which is put in circulation in this way.

Every country has its own special currency. Every day banks and exchange bureaux display
the exchange rate for the customers to know how much the national currency is to the main hard
currencies.

1. Complete the sentences below with some of the words from the above text:

a. The scholarship he received to finance his educational studies was barely enough for him to
buy all the course books he needed.
b. The reduction in alcoholic beverages taxes will lead to a decreasing tax evasion.
c. I bought this perfume from the treasury-free shop on my way back to Toronto.
d. The progressive currency will benefit the people with lower incomes.
e. Some companies try to avoid paying the taxes by building new expensive premises.
f. The government will implement a new scheme for private budget to help senior citizens.
g. Exchange bureaux display their exchange rate daily. Many people are interested in buying
carefuly as they are safe investments.

2. Pick out 10 (ten) different words from the list of business terms (English-Romanian
Business Vocabulary pp 225-246) and make up 10 (ten) sentences in English of your own.

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1. Actions are capital investments that allow the ownership of a part of a public company. In
other words, when you buy a share, you get a share of a company.
2. The average of cars sold selling this year was low than last year.
3. This years many of restaurants got bankrupt. Because the quality of external services cannot
exceed the quality of internal services.
4. Direct costs production are costs that can be individualized and unambiguously attributed to a
resource-consuming and result-producing product or activity.
5. Debt can refer to the amount of money or any other good owed to someone.
6. The main purpose of the public auction is to find the most suitable bidder to carry out a work
in the public domain.
7. The bank is a financial institution whose main object of activity is to attract deposits and grant
loans.
8. The bond is a contract whereby an issuer is required to repay to the investor the amount
borrowed, plus interest over an agreed period.
9. Share capital is defined as the sum of all contributions made by shareholders for the
establishment and operation of a company.
10. The elements of the balance sheet are assets, equity and liabilities, the last two elements
being also called balance sheet liabilities.

3. Translate into English:

,,Trebuie să vă simțiți bine când munciți, iar asta nu e posibil dacă lucrați ceva ce nu vă place.
Simțindu-vă bine la locul de muncă, veți găsi mereu modalități de a face bani. Ba mai mult, banii
vă vor căuta pe dvs. Pentru că orice muncitor(în sens general) dacă se simte bine, va lucra bine,
iar dacă va lucra bine va avea mereu clienți pentru produsele sale, iar în cele din urmă și
recunoașterea apare, indiferent de domeniul ales.”(Alexandru-Mircea Nedelea, Marketing
personal, Editura Casa Cărții de Știință, Cluj-Napoca, 2018, p. 275)

”You need to feel good when you’re working and thats not possible when you’re working
something you dont like. When feeling good at work you will always find ways to make money.
None the less, money will search for you. Because every worker (in general sense), if he will
work well he will always have clients for his products, and in the end, recognition appears,
doesn’t matter the lane of work.” ( Alexandru-Mircea Nedelea, Personal marketing, Editura Casa
Cartii de Stiinta, Cluj-Napoca, 2018, pp.275)

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 BONUS POINT (OPTIONAL)
SEMESTRUL AL II-LEA

“You get what you paid for.”

Write a short 3 paragraph essay (approximately 1 page) on this topic.

For a beginner it is very difficult to make a choice, because the temptation to buy a cheap
product occurs, but also the curiosity of the capacity of an expensive product. The difference is
always in the content. There is a mentality that expensive products are expensive just because we
pay for marketing. In the back, however, many other factors decide the price of a product. From
the factory that makes the product, to its quality, to the packaging, labels, transport (the country
where it is transported), the customs cost, the marketing cost. The sum of all these factors leads
to the establishment of the final price of the product.
First of all, a high quality product will always be easy to work with, easy to file, durable and
will not have an annoying smell. An expensive product actually has lower costs, less product is
used and it lasts longer, thin and durable constructions can be made. From a 50 ml jar you can
make at least 35 sets of salon manicure, after a mathematical calculation we will realize that in
fact the product is not expensive at all.
Secondly, it is possible that a very cheap product does not have good enough characteristics to
work quickly and easily, and it can often bother us with the acid smell. It is possible that a cheap
product has problems with polymerization, and we know that polymerization is very important in
the process of wearing a manicure. An expensive product will polymerize in a proportion close
to the maximum, which offers safety for both durability and health (we will talk about
polymerization in another article).
In conclusion, the difference between a cheap and an expensive product is not necessarily the
ingredient, but its concentration. Some ingredients must not exceed a certain level to be healthy
to use. The price of the product depends on the quality in a proportion of 80%, an expensive
product is subjected to many laboratory tests, the chemical formulas are customized which
means that this product can only be found at the given brand. “You get what you paid for.