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Markets exist wherever people come together to buy and sell their goods and services. In economic systems during such hours, consumers and producers exchange their goods and services in many competitive markets.

A perfectly competitive market, according to economists, requires all the following conditions:

*Many buyers and sellers; no individual or group can influence the behavior of the market.

*Identical goods or services offered for sale.

*No buyers and sellers knows more than any other about the market.

*Buyers and sellers are able to enter of leave the market at will.

Few markets have all these characteristics. The New York Stock Exchange, the American Stock Exchange and other similar securities markets, however, are good examples of perfect competition. The individual securities of a particular firm are totally interchangeable.

Collusion is a secret arrangement between two or more firms to fix prices or to share the market These agreements are usually illegal.

Public Utilities are privately owned firms that provide an essential public service. They are granted a monopoly because it is felt that competition would be harmful to the public interest.

Trademarks are special design, names or symbols that identify a product, service or company. Many businesses are naturally interested in growing and controlling as much of a market – or several markets – as possible. One way to accomplish this goal is through a merger.

Mergers fall into three categories: horizontal, vertical, or conglomerate.

The combination (or “integrating”) of two or more companies engaged in the same business is a horizontal merger. The combination of two or more book publishing firms would be an example of a horizontal merger or horizontal integration.

A conglomerate merger combines two or more unrelated businesses under a single management.

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І. Лексико-граматичний тест:

1.______the traffic was bad, I arrived on time.

a) although c) despite

b) in spite of d) because of

2. Kate might phone tonight. I don't want to go out______she phones.

a) because c) in case

b) because of d) if

3. A dog ran out in front of the car______we were driving along the road.

a) in case c) if

b) as d) when

4- _____ they are with an adult, children are not allowed to use the swimming pool.

a) unless c) providing

b) if d) provided

5.1 drew a map for her in case she______the house.

a) can't find c) won't find

b) couldn't find d) don't find

6. I'll give you my phone number______you need to con­tact me.

a) because c) in case

b) because of d) if

7.1 used to live near the sea______I was a child.

a) as c) when

b) while d) during

8. The doorbell rang______we were asleep.

a) as c) when

b) just as d) while

9. After the interruption, the speaker went on talking______nothing had happened.

a) as c) like

b) as if d) without

10. We usually go out at weekends, but we don't often go out ______the week.

a) while c) unless

b) for d) during