Write the appropriate word or phrase in the following spaces:
The greater experience of our company gives us … over our competitors.
People have come to want more … …, like tape-recorders, fridges and washing machines.
During the war customers queued for long hours for basic … like sugar and oil.
I would devote my life to the child’s … .
This country is … in energy suppliers.
The sales girl … the jewels for money.
Everyone realizes … of friendship.
The subsidies have been seen as giving farmers an unfair … over small holders.
What will happen to … of my property?
Office suppliers are … at many stores in the city.
Italy gained … … over many countries in mass-producing wine.
Available, the value (2), exchanged, self-sufficient, welfare, commodities, consumer goods, (an) advantage (2), a comparative advantage
Read and translate the text. Make up questions: Barriers to International Trade
Despite the many advantages of trade between nations, trade barriers are often imposed on certain goods. Two of the most important import barriers are quotas and tariffs.
A tariff is a duty, or tax, on imports. It may be imposed in order to make them more expensive compared to the domestic product, to discourage foreign producer from shipping certain goods into the country. The main purpose of tariffs is to keep out lower-priced foreign goods. For this reason tariffs usually are very high and this makes domestic manufacturer compete easier with imported product.
Quotas are physical limits upon the amount of good or a service, which can be imported. They are often used to restrict imports where tariffs seem to be not very effective because consumers are prepared to pay high prices for foreign commodities. For example, a quota may state that not more than 100000 automobiles may be imported from South Korea in one year or X tones of coffee from Brazil. So, quota is a restriction on quantity.
An embargo is a complete ban upon trade with a particular country. It is usually imposed for political reasons. In 1952 Senator Joseph McCarthy persuaded the US Senate to impose embargo on Soviet mink, fox and other furs. He argued that such import helped to finance world communism. The USA has also maintained an embargo on Cuban goods since 1959, when Fidel Castro took power there. This embargo severely damaged Cuba’s sugar industry and deprived American smokers of the fame Havana cigars. In 1985 President Reagan imposed a similar embargo on trade with Nicaragua.
A government can give subsidies (money) to domestic producers to give them advantage against foreign firms in the home and domestic markets.
Currencies of most nations are bought and sold as any kind of goods. The price at which a currency can be bought or sold is its exchange rate.
Unit 3. Contract. Clauses of Contract
Remember the words:
agreement
profit
loss
assets
transaction
terms of payment
insurance
delivery