Comments

1. pure competition — чиста конкуренцiя

2. monopolistic competition — монополістична конкуренція

3. to keep something for oneself — затримати щось для себе

4. to stand out from — вiдiйти/вiддiлитися вiд

5. to attract attention — привертати увагу

6. to take over the economic market — змiнити економiчний ринок

7. product differentiation — диференціація (індивідуалізація) продукції

Vocabulary exercises

I. Name the word-building elements and the part of speech of each word:

market — marketability — marketable — marketeer — marketer — marketing; differ — difference — different — differential — differentiate — differentiation — differentiability — differently; compete — competition — competitive — competitiveness — competitor; monopoly — monopolist — monopolistic — monopolize — monopolization.

II. Find equivalents:

1. to depend on smth 2. in short 3. to attract more customers 4. to stand out from smth 5. to prevail 6. a highly competitive market 7. pure competition 8. to have some influence over price 9. to enter the market 10. to keep smth for oneself 11. to take over the economic market 12. to meet the condition of pure competition

а. змiнити економiчний ринок б. затримати щось для себе в. входити в ринок г. коротко кажучи д. залежати вiд чогось е. вiдiйти вiд чогось є. чиста конкуренцiя ж. впливати якимось чином на цiну з. переважати и. залучити бiльше покупцiв і. приймати умови чистої конкуренцiї ї. ринок із високим ступенем конкуренцiї

III. Match the synonyms:

a customer, significant, to prevail, to attract smb’s attention, a supply, next, in accordance with smth, following, to draw smb’s attention, to be ready to do smth, to predominate, to determine price, a buyer, to meet the conditions of pure competition, to fix a price, to be willing to do smth, according to smth, important, a stock, to agree to the conditions of pure competition.

IV. Match the antonyms:

similarity, ordinary, easy, dependent, imaginary, to separate, difference, to attract smb, to accept, independent, difficult, buyer, unique, to reject, seller, to unite, real, to scare smb away/off.

V. Fill in the blanks with prepositions or adverbs if necessary:

1. Economists classify markets according ... conditions that prevail ... them. 2. The answer ... these questions helps to determine market structure, or the nature and degree ... competition ... firms operating ... the same market. 3. One market may be highly competitive because ... a large number ... firms produce similar ... products. 4. Pure competition is a market situation ... which there are many independent and well-informed buyers and sellers ... exactly the same economic products. 5. Buyers and sellers depend ... forces ... the market to determine price. 6. To monopolize means to keep something ... oneself. 7. By making its product a little different, a firm may try to attract more ... customers and take ... the economic market.