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Файл:Экономика. Понятия, принципы, проблемы. Учебное пособие
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5. If the monopoly is detrimental ___ customers it can be prohibited
____ legislation.
6. In perfectly competitive market both buyers and sellers believe that
their own buying and selling decisions have no effect ___ the market price.
7. Ford and Renault are fighting each other ___ the European car
market.
WORD BUILDING
1. Form adjectives and adverbs from the following verbs like this:
to effect – effective – effectively and translate them into Russian.
to restrict, to object, to collect, to possess, to prevent, to abuse, to
affect, to inform, to produce, to describe.
2. Read the text below. Use the word given in capitals at the end
of each line to form a word that fits in the space in the same line. There
is an example at the beginning (0).
NATURAL MONOPOLIES
In most cities the 0) governmentally
owned or
regulated public utilities – the gas and electric
companies, the water company, the cable TV
company, and the telephone company – are all
monopolies. Of course, there is almost always some
competition but it is 1) ______, or simply
unworkable. Candles or kerosene lights are very
imperfect 2)_________for electricity; telegrams,
letters, and messenger services can be substituted
for the telephone. But such substitutes are either
3)_______, inconvenient, or unappealing. The
classic example of a private, 4) __________
monopoly is the De Beers diamond syndicate which
5)__________controls 80 to 85 percent of the
world’s supply of diamonds. Although monopoly in
the very strict sense of the term is virtually 6)
________ in American industry, there have been
GOVERNMENT
PRACTICE
SUBSTITUTION
COST
REGULATE
INEFFECTIVE
EXIST
and are a number of approximations.
91
3. Say how the following words are formed. Which ones are
adjectives and which ones are nouns?
taxicab
bookstore
snack-food
trademark
modern-day
one-firm
airline
railroad
cutthroat
overseas
4. Use each compound word to complete the sentences.
1. A pure, or absolute, monopolist is a ______ industry.
2. Nestlé is well-known for its _______ operations.
3. Monopoly may have a geographic dimension. A small town may
be served by only one ______ or _______.
4. The local bank, movie, or _______ may approximate a monopoly
in a small and geographically isolated community.
5. Patent control figured prominently in the growth of many
________ industrial giants – National Cash Register, Polaroid, General
Electric, du Pont, to name a few.
6. In many large cities one must obtain a municipal license to drive a
________.
7. A firm’s rivals may be eliminated and the entry of new competitors
blocked by aggressive, ________ tactics.
8. Global companies have many ________ branches.
9. A _________ is a symbol used by a company to identify and
advertise its goods.
GRAMMAR
Negative form of the Infinitive.
Functions of the verb to have.
Present Perfect versus Past Simple.
NEGATIVE FORM OF THE INFINITIVE
The Infinitive may have both positive and negative forms.
In the latter case the negative particle to is used before the Infinitive.
Compare:
It is useful to establish the opposite extremes of the market structure.
It is useful not to destroy the advantages of a monopoly.
92
1. In the following sentences put the verbs in the appropriate
д
form of the Infinitive, positive or negative, to fit the meaning of the
statements.
1. It is important (distinguish) the economist’s definition of perfect
competition and the meaning of competition in everyday usage.
2. It is desirable (reduce) the period for which the patents are granted.
3. They formed a cartel (let) the competition spread.
4. It is necessary (underline) that nationalized industries are legal
monopolies, they are the sole licensed producers.
5. Depending upon the type of product or service involved, a
monopolist may (engage) in extensive advertising and sales promotion.
6. They introduced the changes (suffer) losses.
7. We need both theory and facts (understand) how the economy
works.
Function Distribution Example Translation
As a notional
verb
the verb to have
is used in the
meaning of
possession
FUNCTIONS OF THE VERB TO HAVE
To have is
followed by
a noun or a
nominative
group
The Coca-Cola
Company has an
exclusive license
to use that
particular brand
name.
Компания КокаКола обладает
исключительным
правом на
использование
данной торговой
марки.
As a modal verb
the verb to have
is used to denote
an obligation
or necessity
arising out of
circumstances
To have is
followed by
the Infinitive
Society has to
find some way
of deciding
what, how and
for whom to
produce.
Общество
находить способы
решения
относительно
того, что, как и
для кого
производить
олжно
(товары и услуги).
As an auxiliary
verb the verb to
have has only
a grammatical
meaning and
To have is
followed by
Participle II
Our firm
has made
considerable
losses this
month.
Наша компания
понесла
значительные
убытки в этом
году.
is used to form
Perfect Tenses
93
2. Find examples of the use of the verb to have where it is:
a) a notional verb c) an auxiliary verb
b) a modal verb
1. A free market economy has no government intervention.
2. The share of transfers in government spending has increased all
over the world in the period since 1960.
3. When there are more than two goods we have to recognize the
possibility that some goods are consumed jointly – pipes and pipe tobacco,
bread and cheese, electric cookers and electricity.
4. Some large partnerships, such as famous law and accounting firms,
have over a hundred partners.
5. For each output level, production costs depend on technology that
determines how many inputs are needed to produce this output, and on input
prices that the firm has to pay for these inputs.
6. The largest companies have sales measured in billions of pounds.
7. If the business makes losses that it cannot meet it will have to
declare bankruptcy.
8. Investors have made a 14 % profit in just three months.
Present Perfect (I have done) Past Simple (I did)
The present perfect is used to talk
about actions or events in the past
that are still going in the present, or
are still important for the present,
or are part of the general
experience of someone who is still
alive.
The firm has not paid its telephone
bill for December yet.
He has never borrowed money
from a bank.
We use the present perfect for a
period of time that continues from
the past until now, e.g. today, this
week, since 1985, recently, in the
last few days.
The plan of action has been
worked out this morning.
PRESENT PERFECT versus PAST SIMPLE
The past simple is used to express
a finished action in the past.
The firm paid off its debts last
week.
We borrowed $20,000 to start up a
business.
We use past simple for a finished
time in the past, e.g. yesterday, last
week, in the XX century, from
1985 to 1995, in the Middle Ages,
two years ago.
It was A.A. Cournot, a professor of
mathematics at the University of
Lyon, who worked out the law of
demand in the 1830s.
94
3. Put the verbs in brackets in the correct form, Present Perfect
or Past Simple.
1. He ……… “ The Wealth of Nations” by Adam Smith when he was
a first-year university student. (read)
2. The …… already…….. over two million copies of their record.
(sell)
3. They ……….. no objections to the plan at the last meeting. (raise)
4. Interest rates ……. considerably ……. by the end of the week.
(rise)
5. Lamont famously ………….. unemployment as ‘a price worth
paying’ for economic stability. (describe)
6. According to some reports the firm ……. about 700 workers since
April. (sack)
7. Last month the U.S. Government ……… to write off debts of $170
billion. (agree)
8. Governments ……. long ……… a need to protect poorly informed
consumers from actions they would regret. (recognize)
4. Are the underlined parts of these sentences right or wrong?
Correct the ones that are wrong.
1. Mr. Johnson has worked
2. House prices went up
3. Oil prices have more than doubled
4. Our costs increased
5. No one has defined
6. She didn’t pay
the gas bill yet.
7. The party’s membership declined
in bank for 20 years. Then he gave it up.
to a further 12 per cent last year.
since last year.
dramatically in the last few weeks.
the scope of the project so far.
by 70 per cent over the last
ten years.
8. Laws against fraud have been
around for centuries.
DISCUSSION
1. Agree or disagree
• Competition is always unfair.
• Competition is fierce in every country having a mixed economy.
2. Critically evaluate and explain:
“The more profitable a firm, the greater its monopoly power.”
95
3. Give reasons for and against concentrations of market power.
Reasons for Reasons against
4. Oligopoly is the most frequently occurring of the four market
structures. Oligopolies, however, differ significantly one from another.
Nevertheless they do have various features in common. Which of the
following are characteristics of oligopoly?
Characteristics of market structure Yes No
1. There are just a few firms that dominate the
industry.
2. There are few if any barriers to the entry of new
firms into the industry.
3. The firms face downward-sloping demand curves.
4. There is little point in advertising because there are
so few firms.
5. Oligopolists tend to take into account the actions and
reactions of other firms.
5. In which of the four categories will you place each of the
following? It is possible in some cases that part of the industry could be
in one category and part in another: if so name both.
monopoly oligopoly
1. A village post office
2. Restaurants in a
monopolistic
competition
Perfect
competition
large town
3. Banks
4. Hi-fi manufacturers
5. Producers of barley
6. Water supply
7. Local buses
8. Local builders
9. The market for
foreign currency
96
6. Discuss the major barriers to entry. Explain how each barrier
can foster monopoly or oligopoly. Which barriers, if any, do you feel
give rise to monopoly that is socially justifiable?
BARRIERS TO ENTRY
Barriers to entry are considerations which prohibit additional firms
from entering an industry. Barriers to entry may have form of:
a) economies of scale (low-cost production can be achieved only if
producers are extremely large both absolutely and in relation to the market);
b) natural monopolies;
c) patent ownership and research;
d) the ownership or control of essential raw materials (a firm owning
or controlling a raw material which is essential in the production process
can prohibit the creation of rival firms);
e) unfair competition (although Federal legislation prohibits price
cutting intended to reduce competition, how is one to distinguish in practice
between legitimate price competition based upon cost advantages and price
competition designed to bankrupt rivals?).
LISTENING
1. Listen to Keith Jackson talking about competition in a global
market. Note the definitions of the three strategies for becoming a
market leader.
1. Cost focus ______________________
2. Differentiation ___________________
3. Innovation ______________________
2. Keith talks about the strategies of different companies selling
soft drinks. Listen and complete the table.
Company Strategy How they employed the strategy
Safeway,
Tesco,
Sainbury’s
Tango
Virgin Cola
cost-focus strategy
differentiation
innovation
97
3. Keith talks about problems for companies who compete in the
global market place. Make notes about McDonald’s under the following
headings.
1. Quality: _____________________________________________
2. Local culture and customer expectations:____________________
3. Marketing: ___________________________________________
4. The product: _________________________________________
WRITING
Comparison and contrast.
Discussion.
COMPARISON AND CONTRAST
In most academic subjects, and in life generally, we often need to
compare and contrast things. Comparing is aimed at finding similarities,
contrasting aims to define differences. Both similarities and differences are
often noted when classifying. The language of comparison and contrast is
frequently needed when studying tables and other statistical information.
The table below presents information on various countries in
terms of area, population, density, arable land area and forest area, etc.
Table 4.2. Various Countries
Country
Data
Belgium Canada Egypt Ireland Nepal
Population 10,140,000 29,972,000 64,100,000 3,589,000 21,953,000
Area: sq. km. 32,800 9,221,000 995,000 68,900 137,000
Density:
323 3 52 53 136
per sq. km.
Forest area 21% 39% 0% 4,5% 39%
Arable land 23,5% 5% 2% 13,5% 17%
Agricultural
2% 3% 39% 12% 91%
population
Main
languages
Dutch/
Flemish,
English,
French
Arabic,
French
English,
Irish
Nepali,
Maithili
French
Main
religions
Christianity Christianity Islam Christianity Hinduism,
Budddhism
98
1. Look carefully at the examples based on Table 4.2. Identify
different languages means of expressing similarities. Fill in the blanks
with the names of the countries.
1. Both ________ and __________ have a small agricultural
population.
2. __________ and ___________ are similar in that they both have
two official languages, one of which is English.
3. Canada, like ___________, has 39% of forest area.
4. The density of population in Egypt is nearly the same as in
_________ .
5. The agricultural population in Belgium is as small as in
___________ .
6. With regard to the main religion, both _________ and
____________ profess Christianity.
2. Look carefully at the examples based on Table 4.2. Now
identify different languages means of expressing differences. Fill in the
blanks with the names of the countries.
1. Ireland and ________ are dissimilar in that Ireland has a much
smaller population than __________ .
2. With regard to population, Egypt is much bigger than _________ .
3. The main religion in Ireland is Christianity, whereas in
__________ it is Islam.
4. _________ has the largest percentage arable land area; however, It
has the smallest percentage agricultural population.
5. Although ___________ has the smallest percentage arable land, it
has the largest percentage agricultural population.
6. On the one hand, ___________ has rather large population, on the
other hand, it has the lowest density of population.
7. The territory of _________ is considerably bigger than that of
Belgium.
8. _________ has the largest forest area.
agricultural population.
10. The density of population in Belgium is six times as much as that
in ___________ .
11. The area of Belgium is half as much as the territory of ________ .
12. Ireland has half the size area than __________ .
99
3. Write some sentences similar to those above. Compare and
contrast your country with one of the countries in Table 4.2. Useful
language constructions presented below will help you.
X is
QUALIFICATION OF COMPARISON
considerably
a great deal
much
a lot
rather
somewhat
a little
slightly
scarcely
smaller
bigger
longer
cheaper
etc.
than …
hardly
only just
exactly
precisely
just
virtually
X is
practically
more or less
The same as …
almost
nearly
approximately
about
exactly
X is not
entirely
the same as …
quite
totally
X is
completely
entirely
different from Y.
quite
totally
X and Y are
completely
entirely
different.
quite
100
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