2. Say whether these statements are true (t) or false (f), and if they are false say why.
( )‘Monopoly’ describes a market in which there is only one seller or a very limited number of sellers.
( )Sellers undertake monopolistic activity in order to get high profits.
( )In theory there are four kinds of monopoly.
( )States always monopolize important basic commodities.
( )Natural monopoly gives control over natural resources.
( )The inventors can’t control the production and sales of their product.
( )Cornering the market is quite legal in the USA.
( )The Monopolies Commission considers that it is undesirable to restrict business mergers.
3. Answer the questions:
What is a monopoly?
What is the main target of the monopolistic activity?
What way does the government control monopolies?
What kinds of monopoly do you know?
What type of monopoly does the law permit inventors to have?
What illegal actions do certain companies take to obtain complete control over particular commodities?
How do the Americans call their anti-monopoly laws?
4. Look through the text again and give Ukrainian/Russian equivalents to the following English words and word combinations:
Through geographical and geological circumstances; to obtain a complete control over some commodity; electricity; competing companies; anti-trust laws; mergers; undesirable; to bring artificially high profits; to corner the market; to monopolize; authors; to lay cables and pipes.
5. Give English equivalents to the following words and word combinations from the text:
Державне планування; охоплювати ринок; натуральна монополія; державна монополія; обмежувати діяльність; контролювати; штучно; стародавнє уявлення ринку; мати монополію на товар; сірники; винахідник; монополістична діяльність.
6. Complete the following sentences with words or word combinations from the text:
The situation in which a company has no competitors is called ….
There is a large number of … in the computer …. This doesn’t allow producers to charge high prices.
Many giant companies … … … in order to grow and control as much of a market as possible.
Ukrposhta and British Petroleum are examples of … monopolies.
The government passes … laws to restrict undesirable activities of some companies.
… motivates producers to improve the quality and increase the range of goods and services.
In a … competition buyers and sellers are able to … or … the market at will.
… monopolies are granted to privately owned firms that … essential public services like electricity, … and others.
Match an adjective from column a with a noun from column b. Then make a sentence for each word partnership.
A B
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basic