Vocabulary exercises

II. Find equivalents:

1. to depend on smth 2. in short 3. to attract more customers 4. to stand out from smth 5. to prevail 6. a highly competitive market 7. pure competition 8. to have some influence over price 9. to enter the market 10. to keep smth for oneself 11. to take over the economic market 12. to meet the condition of pure competition

а. змiнити економiчний ринок б. затримати щось для себе в. входити в ринок г. коротко кажучи д. залежати вiд чогось е. вiдiйти вiд чогось є. чиста конкуренцiя ж. впливати якимось чином на цiну з. переважати и. залучити бiльше покупцiв і. приймати умови чистої конкуренцiї ї. ринок із високим ступенем конкуренцiї

III. Match the synonyms:

a customer, significant, to prevail, to attract smb’s attention, a supply, next, in accordance with smth, following, to draw smb’s attention, to be ready to do smth, to predominate, to determine price, a buyer, to meet the conditions of pure competition, to fix a price, to be willing to do smth, according to smth, important, a stock, to agree to the conditions of pure competition.

IV. Match the antonyms:

similarity, ordinary, easy, dependent, imaginary, to separate, difference, to attract smb, to accept, independent, difficult, buyer, unique, to reject, seller, to unite, real, to scare smb away/off.

V. Fill in the blanks with prepositions or adverbs if necessary:

1. Economists classify markets according ... conditions that prevail ... them. 2. The answer ... these questions helps to determine market structure, or the nature and degree ... competition ... firms operating ... the same market. 3. One market may be highly competitive because ... a large number ... firms produce similar ... products. 4. Pure competition is a market situation ... which there are many independent and well-informed buyers and sellers ... exactly the same economic products. 5. Buyers and sellers depend ... forces ... the market to determine price. 6. To monopolize means to keep something ... oneself. 7. By making its product a little different, a firm may try to attract more ... customers and take ... the economic market.

VI. Complete the following sentences:

1. Economists classify markets according ... . 2. They ask questions like the following ... . 3. The answer to these questions helps ... . 4. One market may be highly competitive because ... . 5. Another may be less competitive ... . 6. In short, markets can be classified according to ... . 7. Economists have names for these different market structures ... . 8. Pure competition is a market situation ... . 9. To monopolize means ... . 10. The one thing that separates monopolistic competition from pure competition is ... .

VII. Match each term in Column a with its definition in Column b:

Column A Column B

1. monopoly	a. The process of creating uniqueness in a product.
2. oligopoly	b. A market dominated by a few large firms.
3. pure competition	c. A market in which there is only one seller.
4. monopolistic competition	d. Place where buyers and sellers come together.
5. product differentiation	e. The price at which supply exactly equals demand.
6. competition	f. A market situation in which there are many independent and well-informed buyers and sellers of exactly the same economic products.
7. market	g. The rivalry among buyers and sellers in the purchase and sale of resources and products.
8. market price	h. A market in which many firms are selling similar (but not identical) products.