Word power

I. Give English equivalents for the following words and phrases from the text.

становиться зрелым, сопровождать, молчаливое одобрение, тайная договоренность (сговор), объемы производства, общее рыночное предложение, позволить себе, торговая марка, искоренять, конкурент (соперник), умелое размещение рекламы, подлинное снижение цен.

II. Match antonyms in columns A and B.

A. B.

advantage monopoly

to cut (prices) decrease

expenditure disapproval

increase demand

to borrow profit

oligopoly illegal

approval disadvantage

supply to destroy

to create to raise (prices)

legal to lend

III. Use the negative prefixes –un, -dis, ir- , im- , dis- to form new words. Make up your own sentences with these words.

ex: common – uncommon: It was uncommon of him.

Advantage, possible, expensive, legal, proportion, to approve, to organize, spoken, written.

Grammar Revision

Rewrite the sentences using past or future forms of the modal verbs.

Example: They can afford to buy a flat. (last year). Last year they could afford to buy a flat.

1. This firm can influence the market situation. (If the firm becomes a monopoly, it …)

2. Gas company must restrict the supply of gas to consumers. (Last year …)

3. Few competitors may enter the oligopolistic market. (In the past …)

4. A monopoly has to maintain market share against rival producer’s products. (In future …)

5. The companies can form the cartel to raise prices for certain goods. (Last year …)

6. The state can’t eradicate collusive behaviour. (Unless the state creates tough laws, it …

Quick reading

Read the text and translate it into Russian. State the difference between “a takeover” and “a merger”.

There are several relationships that may grow up between businesses, when they want to protect themselves from competitors. They are takeovers, mergers, amalgamations, absorption, holdings, trusts and so on. No agreement has been reached among financial experts as to the precise difference in meaning between the terms. In a takeover one company buys a controlling interest in another company by acquiring at least 51% of its shares. The company does it by making a direct approach to the company’s shareholders for their shares. The company intending to take over will not necessarily consult the company it is taking over.

With a merger, two or more companies involved will consult with each other previously. They try to make a certain agreement on their merger to the satisfaction of both companies.

Talking Point

Read the text, look up the key words and word combinations in the dictionary; make a summary in English.

Первая попытка создания антимонопольного закона в России предпринималась еще в 1908 г. За образец был взят закон Шермана, действовавший в США. Но российские предприниматели были против закона, и он не был принят. И только в 1991 г. был принят Закон “О конкуренции и ограничении монополистической деятельности на товарных рынках“.

В соответствии с этим законом:

1) запрещаются действия фирмы, приводящие к ограничению конкуренции и ущемлению интересов других участников рынка;

2) запрещаются монопольные сговоры о ценах, изъятие товаров с рынка для поддержания дефицита, раздел рынка, ограничение доступа на рынок конкурирующих фирм;

3) подлежат наказанию фирмы, занимающиеся недобросовестной конкуренцией, в частности: распространяющие ложные сведения о товарах конкурентах, обманывающие покупателей относительно реальных свойств и качеств своего товара; незаконно использующие для своих товаров чужие названия и товарные знаки, похищающие у своих конкурентов их коммерческие секреты и информацию;

4) контроль за деятельностью монополистов осуществляет Государственный Антимонопольный комитет.

UNIT 3 Money

Text 1

Pre-reading task

a) Discuss the following questions before reading the text.

1. You hear and use the word money every day, don’t you? Do you think it is possible to live without money? If yes, how and where should you live? Have you ever thought about the functions of money? What do money serve for?

2. What kind of money do you have in your purse? Is it paper money or coins? Which do you prefer? Why? Do you know other kinds of money? Can you say anything about money and price relations?

b) Key words: money, supply, exchange, barter, storing wealth, evaluation, value, payment.

Look up the key words in the dictionary to find out the exact meaning. Write them out.