Grammar exercises

IX. Translate the sentences (§14). Practise the use of Modal Verbs.

1. Absolute accuracy cannot be expected with this kind of instrument, you should take several observations. 2. Something must have happened to our computer, it is out of order. 3. You should have tested the device more carefully considering its importance. 4. The operator ought to have known computer better. 5. The pilot should have made use of radar in locating the position of the plane. 6. The new device must have been broken by accident. 7. You may change data obtained many days ago. 8. They could do things correctly but they didn`t manage.

X. Supply the correct forms of the verbs (§11). Translate the sentences.

1. The United Kingdoms’ coal industry (to remain) one of the largest and most technologically advanced in Europe. 2. Small companies (to predominate) in the economy of the UK. 3. It is impossible to enter the university if you (not to attend) preparatory courses. 4. Your letter (to answer) by Monday. 5. The experiment (to carry out) from 10 till 12 o`clock yesterday. 6. The delegation (to head) by the Prime Minister at the coming conference. 7. Firms (to need) young and energetic employees. 8. English (to recognize) as an international business language. 9. It (to be) especially useful to read books on economics, business and marketing in the original when we were students. 10. Most of the nation`s personal savings (to hold) by the commercial banks.

At leisure

1. Read the article without a dictionary, try to retell it.

54

Word origin WHERE DOES THE WORD «DOLLAR» COME FROM?

The word «dollar» has been in use since the 16th century in England and was used very early on in the United States to refer to the currency that was used by settlers. Its history begins in Europe.

Dollar is the English word for «Thaler» which German speakers rec­ognized as the silver coin used in Austria.

Meanwhile, the currency often used in the British colonies in North America was a Spanish coin – the peso or eight reals also known as «pieces of eight». This coin they called a dollar. So the term was used in America for two centuries before the British colonies became independent at the end of the 18th century.

2. Read and translate the proverbs, think of Russian equivalents, give a situation using them.

• A friend in need is a friend indeed.

• A good beginning is half the battle.

3. A glimpse of Great Britain Enlarge your greetings

Next time you see you friends, instead of saying «hello», try one of these:

• How’s tricks?

• How’s it going?

• How’s things?

• Watcha

• Hiya

All of these are alternatives to «hello» in routine friendly greetings. But you won’t find them in most course books. And to say goodbye: See you

Catch you later See you round

55

Take it easy

Don`t work too hard

Look after yourself

Unit 9

Pre-text exercises

1. Find the transcription of new words in a dictionary: particular, affect, competition, compete, barrier, resource. Try to read them fluently.

2. Word-building Compile and translate: to differ υ. + -ent →

to compete υ. + -tion → to inform υ. + -tion → final a. + -ly →

Read the text Market structure and competition

When economists talk about market structure they mean the way companies compete with each other in a particular market. Let’s take the market for pizzas, for example. There may be many thousands of small companies all trying to win a share of the pizza market, or there may be only one huge company that supplies all the pizzas. These are two very different market structures, but there are many other possible structures. Market structure is important because it affects price. In some market structures, companies have more control over price. In other market structures, consumers have more control over price.

You can think of market structure as a kind of scale. At one end of the scale is perfect competition and at the other end is pure monopoly. In a market with perfect competition, there are many companies supplying the same good or service, but none of them are able to control the price. This sounds fine, but in reality it is very difficult for such a market structure to exist. What’s needed?

First of all, there must be many small companies competing. Each company has its own small share of the market. If one company has

56

a much larger share than any other, it can affect price, and perfect competition will no longer exist.

Secondly, products or services from different companies must be the same. This doesn’t mean that everything on the market has to be identical, but they have to be perfect substitutes. In other words, one company’s product must satisfy the same need as another company’s.

Thirdly, customers and companies must have perfect and complete information. This means that they know everything about the products and prices on the market and that this information is correct.

Fourthly, there mustn’t be any barriers to new companies entering the market. In other words, there must not be anything that helps one company stay in the market and blocks others from trading.

Finally, every company in the market must have the same access to the resources and technology they need.

If all of these conditions are met, there is perfect competition.

Words:

particular — особый identical — одинаковый

to win — выигрывать substitute — заменитель

scale — масштаб in another words — другими perfect competition — совершенная словами

конкуренция to stay — оставаться

to exist — существовать to block — блокировать

Post-text exercises

Working on the text