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18.3 Write the abbreviations in words.

1. TQM T _ _ _ _ Q _ _ _ _ _ _ M _ _ _ _ _ _ _ _ _

2. BPR B _ _ _ _ _ _ _ P _ _ _ _ _ _ R _ _ _ _ _ _ _ _ _ _ _ _

Test 19 Buyers, sellers and the market

19.1 Choose the best word from the brackets ( ) to fill each gap.

1. Our …………………. includes several multinational companies, (clientele/economy)

2. We wanted to buy the house bur the ……………… was asking for £300,000. (purchaser/vendor)

3. The government brought in several market ………...… to strengthen the economy.

(reforms/pressures)

4. Until 1998, the government freed all the prices, but now we have a ………… market. (free/stare)

5. It's only a small shop, but we serve nearly 200 ………………… a day. (consumers/customers)

6. Most of our ……………. are small businesses, (markets/users)

1 9.2 Draw a line from each word on the left to a word on the right to make a word pair. (There is one extra word that you don't have to use.) Then use your word pairs to complete the sentences below.

1. He starred out as a …………………………… selling

hot dogs from a van.

2. We publish school textbooks, so our ……….……………..

are the students.

3. We've built up a really strong ………………………...over

the past five years.

4. Their product is too expensive, so ………………………… will soon make them drop the price.

5. She is the ……………………….. for the country's leading chain of shoe shops.

19.3 Find the answer to each clue. Some letters have been given to help you.

1. The market ………………… is made up of buyers and sellers.

2. The market ………………… is how much buyers are willing to pay.

3. Producers are forced to sell what buyers want by market ………………….

4. The government doesn't fix prices in a market ………………………

5. An advertising company needs a strong ……………………….. base.

6. People who buy products for their own use are ……………………….

1.

p

c

2.

r

c

3.

s

s

s

4.

e

y

5.

c

l

6.

c

n

m


Test 20 Markets and competitors

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