IV. Learn the meaning of the words competence, competition, competitiveness, competitor, competent, competing, competitive, compete

competence, n.	the ability to do something in a satisfactory or effective way.
competition, n.	the activities of people or organizations that are trying to be more successful than others.
competitiveness, n.	the ability of a company, country, or a product to compete with others.
competitor, n.	a company that sells the same goods or services as another company.
competent, adj.	capable of doing something in a satisfactory or effective way.
competing, adj.	trying to be more successful than each other.
competitive. adj.	trying very hard to be more successful than other people or businesses.
compete, v.	to try to be more successful or better than smb. else who is trying to do the same as you.

V. Fill in the gaps in the sentences below using the words from exercise IV

1. All our major … are also bidding for the contract.

2. Four of the … nations are from South America.

3. He really wants the job, but he will be facing stiff … .

4. He shows a high level of professional … .

5. Make sure the firm is … to carry out the work.

6. New machinery has enhanced the company's productivity and … .

7. Several companies are … for the contract.

8. Small traders cannot … in the face of cheap foreign imports.

9. We are in … with four other companies for the contract.

10. We need to work harder to remain … with other companies.

VI. Find synonyms of the following word combinations

1. inflation rate; 2. inner resources; 3. currency parity; 4. specific rate; 5. abolish taxation; 6. allow a reduction; 7. arrest inflation; 8. boost output; 9. decrease the output; 10. cut taxation; 11. determine a rate; 12. commercial output; 13. pool resources; 14. improve productivity.

VII. Match each of the following verbs with all possible nouns given in the box

a) competitiveness; b) inflation; c) output; d) parity(ies); e) (a, the) rate(s); f) resources; g) taxation.

1. to accelerate; 2. to achіeve; 3. to avert; 4. to control; 5. to curb; 6. to cut; 7. to fix; 8. to impose; 9. to increase; 10. to limit; 11. to maintain; 12. to prescribe; 13. to quote; 14. to raise; 15. to reduce; 16. to restrain; 17. to revise; 18. to set; 19. to utilize.

VIII. Fill in the gaps in the word combinations given below with the prepositions down, from, of, on, to, up, іn

1. be exempt … taxation; 2. change … interest rates; 3. exempt … taxation; 4. process … restoration; 5. rates … unemployment; 6. reduction … interest rates; 7. reduction … profit margins; 8. reduction … prices; 9. restoration … currency; 10. restoration … one's rights; 11. rіse … competitiveness; 12. sell … a reduction; 13. slow … inflation; 14. slow … the rate; 15. stand … parity; 16. step … the rate … growth; 17. subject … taxation.