- •Тема 1 Relative Clauses
- •5. Decide if the relative clauses are defining or non-defining, choose the correct pronoun and put commas where necessary:
- •6. Grammar Revision.
- •Today’s shopping innovations
- •9. Study the following words and phrases:
- •10. Match the words with their definitions:
- •11. Match two halves of the sentences and translate them into Russian:
- •12. Fill in the gaps with one of the following words and expressions. Use the correct forms of the verbs:
- •13. Find collocations from the text:
- •14. Give the English equivalents of the following words and expressions:
- •15. Fill in the right preposition where necessary:
- •20. Read the following statements and decide whether they are true (t) or false (f). Correct the false ones:
- •20. Choose the correct answers to the following questions:
- •21. Study the following words and phrases:
- •Reported Speech. Affirmative sentences
- •Vocabulary Study
- •8. Study the following words and phrases:
- •10. Decipher the following abbreviations:
- •11. Match the definitions:
- •12. Cross the odd word out:
- •13. Match the idiomatic expressions (1-5) with their meaning (a-e) and translation (I-V):
- •Vocabulary Study
- •21. Study the following words and phrases:
- •Indirect command and request
- •Indirect questions
- •Indirect general questions
- •Indirect special questions
- •Mechanisms of markets
- •Size parameters
- •6. Study the following words and phrases:
- •7. Choose the correct alternative to complete each sentence:
- •8. A) Add the word market either before or after each of the words below:
- •10. Match the words with their definitions:
- •11. Fill in the gaps with the words and expressions from Ex. 10:
Mechanisms of markets
In economics, a market that runs under laissez-faire policies is a free market. It is “free” in the sense that the government makes no attempt to intervene through taxes, subsidies, minimum wages, price ceilings, etc. Market prices may be distorted by a seller or sellers with monopoly power, or a buyer with monopsony power. Such price distortions can have an adverse effect on market participant’s welfare and reduce the efficiency of market outcomes. Also, the relative level of organization and negotiating power of buyers and sellers markedly affects the functioning of the market. Markets where price negotiations meet equilibrium though still do not arrive at desired outcomes for both sides are said to experience market failure.
Markets are a system, and systems have structure. System works fine when the structure of a system is in good condition. Structure of a (utopistically) well-functioning market is defined in theory of perfect competition. Well-functioning markets of a real world are never perfect, but basic structural characteristics can be approximated for real world markets, for example
many small buyers and sellers
buyers and sellers have equal access to information
products are comparable
Buying and selling in well-structured markets creates a price that satisfies both buyers and sellers, not buying and selling alone as the free market proponents tells us. For example, trade unions are sometimes accused of spoiling the market mechanism of labour markets, in reality it is the opposite: blue collar trade unions make the buyer and seller more equally powerful when they negotiate the price for a working hour. When the buyer and seller are equally powerful, then the price for a commodity is acceptable to both parties.
Size parameters
Market size can be given in terms of the number of buyers and sellers in a particular market or in terms of the total exchange of money in the market, generally annually (per year). When given in terms of money, market size is often termed market value, but in a distinguished sense than the market value of individual products. For one and the same goods, there may be different (and generally increasing) market values at the production level, the wholesale level and the retail level. For example, the value of the global illicit drug market for the year 2003 was estimated by the United Nations to be US$13 billion at the production level, $94 billion at the wholesale level (taking seizures into account), and US$322 billion at the retail level (based on retail prices and taking seizures and other losses into account).
A-Z
6. Study the following words and phrases:
whereby |
посредством, при помощи |
parties |
стороны (участники) |
rely on |
полагаться, опираться, рассчитывать |
labour |
труд |
multiple |
множественный |
monopsony |
монопсония, монополия покупателя (рыночная структура, характеризующаяся наличием на рынке только одного покупателя товара, услуги или ресурса, что обеспечивает покупателю возможность влиять на уровень цен) |
imperfect competition |
несовершенная конкуренция |
scale |
размер, масштаб, размах |
participant |
участник |
retail market |
розничный рынок |
parking lots |
место стоянки автотранспорта |
ad hoс |
спонтанный, произвольный |
intermediate goods |
промежуточная продукция, подсобные материалы, полуфабрикаты |
commodity market |
товарный рынок |
stock market |
фондовая биржа |
artificial |
искусственный |
derivative |
производный (финансовый) инструмент, дериватив |
design |
придумывать, разрабатывать |
ameliorate |
улучшать(ся) |
externalities |
внешние эффекты, экстерналии (положительные или отрицательные побочные последствия производства или потребления, осуществляемого субъектом/субъектами, напрямую затрагивающие другого субъекта/субъектов) |
pollution |
загрязнение (внешней среды) |
carbon |
уголь, углерод |
illegal |
незаконный, нелегальный; запрещенный |
illicit drugs |
запрещённый наркотик |
mainstream |
господствующая тенденция, представляющий большинство |
transaction |
сделка, транзакция |
give rise to |
вызывать, иметь результаты |
concerning |
касающийся, затрагивающий |
supply and demand |
спрос и предложение |
facilitate |
облегчать; содействовать |
allocation |
распределение (средств, ресурсов); размещение |
item |
отдельный предмет (в списке и т. п.) |
evaluate |
оценивать; составлять мнение |
deliberately |
осознанно, обдуманно |
interaction |
взаимодействие |
cf. (от confer) |
сравни |
ownership |
собственность; имущество |
originate |
брать начало, возникать |
run |
действовать, работать |
laissez-faire policy |
политика невмешательства |
attempt |
попытка |
intervene |
вмешиваться |
subsidy |
субсидия, дотация |
price ceiling |
потолок цен |
distort |
искажать; деформировать |
adverse |
неблагоприятный, вредный |
welfare |
благосостояние |
outcome |
итог, последствие, результат |
markedly |
заметно; явно |
meet equilibrium |
соблюдать баланс |
experience |
испытывать, претерпевать |
approximate |
приближать(ся) |
access |
доступ |
proponent |
защитник, сторонник |
trade union |
профсоюз |
accuse |
обвинять (кого-л.; of - в чем-л.) |
acceptable |
приемлемый; допустимый |
in terms of numbers |
в количественных показателях |
distinguish |
проводить различие, различать |
wholesale |
оптовая торговля |
seizure |
захват, взятие силой |
loss |
утрата, потеря |
L exis