How to answer questions

Example question:

What determines the price of a product?

Example answer:

● The price of a product is influenced by thecosts. 1

● This is because firms have to charge a pricewhich is greater than costs to make a profit. 2

● However in the short run a firm may sell aproduct at a loss. This may be to gain market share or because the product is still at theintroduction phase and has high research and launch costs. 3

● Overall it depends on whether we are considering a short or long term pricing policy. Firmsmay be willing to make a loss in the short run. It will also depend on the objectives of the firm.Some public sector organisations, e.g. may simply try to cover costs.

Example

Question: Should firms train their employees?

Answer:

By training their employees firms may be able to increase their profits BECAUSE trainedstaff are likely to be more productive and make les mistakes. Employees might also be moremotivated BECAUSE they might be able to undertake more interesting work and BECAUSEmanagers are showing that they value their staff (which can satisfy their esteem needs).HOWEVER training costs money and is not always successful. It can also lead to a loss ofproduction while staff are being trained. OVERALL, management will have to weigh up thepotential

benefits against the costs. If, for example, the firm has the necessary resources, the

training is relatively cheap and is likely to lead to significant increases in productivity

and profitability the firm likely to invest in it. If, ON THE OTHER HAND, the firm lacks thenecessary finance and staff already have the skills required then training is LESS LIKELY.

Ⅰ Introduction to BV Speaking

format

conversation

presentation

discussion

criteria

pronunciation

vocabulary & grammar

discourse management

interactive communication

examiner

interlocutor

assessor

Cambridge examiner