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    1) While some large companies are reporting major losses during the recession, Cadbury has historically performed well during economic downturns and has continued recording profits. Cadbury managed to become successful even during the Great Depression of the 1930s. 2) Outdoor leisure companies like Millets and Blacks have seen rising sales during the recent economic problems in the UK as people opted to take domestic holidays instead of expensive foreign trips and stayed in cheaper accommodations like campsites instead of hotels. 3) According to the text, spectator sports have surprisingly seen falling attendance despite being thought of as an escape from financial worries. This is because watching sports is mainly a male activity, and family budgets tend to cut non-essential

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    1) While some large companies are reporting major losses during the recession, Cadbury has historically performed well during economic downturns and has continued recording profits. Cadbury managed to become successful even during the Great Depression of the 1930s. 2) Outdoor leisure companies like Millets and Blacks have seen rising sales during the recent economic problems in the UK as people opted to take domestic holidays instead of expensive foreign trips and stayed in cheaper accommodations like campsites instead of hotels. 3) According to the text, spectator sports have surprisingly seen falling attendance despite being thought of as an escape from financial worries. This is because watching sports is mainly a male activity, and family budgets tend to cut non-essential

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    27 views2 pages

    Br2e Adv Readingfile03

    Uploaded by

    PressCall Academy
    1) While some large companies are reporting major losses during the recession, Cadbury has historically performed well during economic downturns and has continued recording profits. Cadbury managed to become successful even during the Great Depression of the 1930s. 2) Outdoor leisure companies like Millets and Blacks have seen rising sales during the recent economic problems in the UK as people opted to take domestic holidays instead of expensive foreign trips and stayed in cheaper accommodations like campsites instead of hotels. 3) According to the text, spectator sports have surprisingly seen falling attendance despite being thought of as an escape from financial worries. This is because watching sports is mainly a male activity, and family budgets tend to cut non-essential

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    of 2

    Reading file 3

    Background

    Recession is an ugly word


    Recession is an ugly word – it fills us the budget hotels to the more expensive
    with fear and makes us worry about ones. Companies like Premier Inn and
    our jobs and the future. But some Travelodge saw profits rise and plan to
    organizations are not worried by open new hotels across the country.
    recession, and in fact they welcome Erik Lambord, a consumer consultant,
    it. While some big companies are claims that other industries can survive
    reporting huge losses, others are seeing recessions too. Hardware shops are
    their profits 1 and are feeling likely to do well as people make do
    confident about the future. and 8 rather than buy new,
    Cadbury, the chocolate maker has and people are more likely to improve
    a history of beating recessions and their homes rather than move. Car
    recording profits during times of part retailers can also expect to see
    economic 2 . In fact Cadbury sales increase during a 9 for
    managed to establish itself as a similar reasons – people are looking
    successful company during the great after their cars themselves rather than
    depression in the 1930s. Again in recent taking them to a garage or buying new
    times Cadbury hasn’t seen sales 3 ones. Lombard also says that sales of
    , despite the hard economic bikes rise during recessions as people
    climate. In fact its sales have grown. try to beat the 10 cost of fuel
    ‘The company has been affected by by riding to work.
    rising costs, but with a good strategy, Interestingly, one activity that you
    focusing on their 4 products, might expect to survive economic
    they have been able to stay in the hardship – spectator sport, has actually
    5
    ,’ explained Milan David, a recently seen attendances fall. Surely
    market analyst. ‘In times of downturn an afternoon at a sports venue is
    people can’t afford luxury items the perfect escape from our money
    such as new cars or televisions, but worries? But Lombard claims there are
    they still want some pleasure in their two reasons why sport has struggled
    lives. Chocolate is a cheap, affordable during the recent economic difficulties.
    luxury that always manages to cheer Firstly this is because watching sport
    us up.’ This concept is known as is something mainly done by men.
    ‘lipstick economics’ – people will still When families look at areas where
    buy cheap 6 like lipstick they can tighten their 11 , the
    during economic crises. So what other individual activities of family members
    companies can claim to be recession are often the first to go. But secondly,
    beaters? and maybe more importantly, sport
    Despite recent economic problems in has become too expensive to be seen
    the UK, outdoor leisure companies have as a ‘lipstick luxury’. We might see
    performed remarkably well. Companies more people getting their 12
    such as Millets and Blacks, who sell by watching lower league teams with
    camping equipment, have seen sales cheaper tickets, rather than their
    rise. With a recession 7 , favourite teams.
    people did not want to spend money on So while for most of us recession
    expensive foreign holidays, so took their remains an ugly word, there are some
    holidays at home in the UK, staying on who see an economic slump as an
    campsites rather than in hotels. When opportunity to make profits from our
    people did stay in hotels they preferred changing habits.

    © Oxford University Press 2017 Business Result Second edition Advanced


    Reading file 3
    Exercises
    1 Work with a partner and discuss these questions.
    1 What do you understand by the word ‘recession’?
    2 How does a recession usually affect companies?
    3 During a recession, economic analysts often refer to ‘lipstick economics’. What
    do you think this term means?

    2 Read the text quickly and compare your answers in 1 with the
    information in the text.

    3 Read the text again and answer these questions in your own words.
    1 What is unusual about Cadbury’s sales during a recession? Why does this
    happen?
    2 How does ‘lipstick economics’ affect hotels and outdoor leisure companies?
    3 According to the text, which industry is suffering in the current economic
    climate? Why?

    4 Put the following words a–l in the correct gaps 1–12 in the text to form
    phrases and collocations.
    a belts d downturn g looming j shrink
    b black e fix h mend k soar
    c core f hardship i prohibitive l treats

    5 Match the phrases and collocations you formed in 4 to definitions 1–12.


    1 the most important items sold by a company:
    2 a situation that is financially difficult and unpleasant because you do not have
    enough money, food, clothes:
    3 a time when the economy becomes weaker and there is a fall in the amount of
    business that is done:
    4 when the turnover of a company decreases:
    5 to remain in a position where you have money and you don’t have debts:

    6 to spend less money because there is less available:


    7 when the amount of money made by a company rises very quickly:
    8 get what you need to satisfy an obsession, craving, or addiction:
    9 when an economic downturn is likely to happen soon:
    10 things that are pleasant, enjoyable, and also inexpensive:
    11 a price so high that it prevents people from buying something or doing
    something:
    12 to make repairs or fix something, rather than buy something new to replace it:

    6 Work with a partner. Make a new sentence for each phrase or collocation
    in 5.

    7 Look back at the text and choose three words that you could use in your
    day-to-day work.

    8 Work with a partner. Discuss these questions.


    1 Is ‘lipstick economics’ also present in your country?
    2 Would the companies in the text also be successful in your country during a
    downturn? Why? / Why not?
    3 What other products or industries are usually safe during a recession? Why?

    © Oxford University Press 2017 Business Result Second edition Advanced

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