Exercises Ex. 1 Find definitions to each of the given terms:

Free on Board “F.O.B.”	- there are the taxes imposed by government upon the importation or exportation of certain goods and commodities.
Customs duty	- a list of articles liable to duty.
Embargo	- when goods are sold “F.O.B.” it means that the seller puts them on board the ship free of all expense and shipping charges of the buyer.
Customs tariff	- a government order to prevent ships from loading or unloading certain goods, or from entering or leaving a port.
Cost and Freight	- the party to whom goods are sent.
Consignee	- he who forward goods – the sender.
Consignor	- it means that no insurance upon the goods is paid, but the price includes only the cost of goods and the freight and charges upon them.

Ex. 2 Complete the following sentences, using all possible words and word combinations from the given below:

trade balance, the custom, duty-free import, smuggling, world market prices, foreign trade, foreign trade turnover.

1. Any commodity imported or exported from a country must first go through … .

2. Secret import or export of goods is called … .

3. The country’s export and import constitute its … … … .

4. … … constitutes a special branch of the economy.

5. … … … can fluctuate sharply within certain periods of time.

6. … … … is welcomed by the population since it brings down the retail price.

7. The difference between import and export is called the country’s … … .

Ex. 3 Find the correct translation of words and word combinations:

A. 1. trade turnover 2. network 3. underwrite 4. access 5. export revenues 6. to impose 7. merciless rivalry 8. warfare 9. custom authority 10. national regulations 11. custom duty 12. smuggling 13. criminal offence 14. ban 15. to alter 16. proponent 17. duty-free import 18. wage cut 19. meet the interests 20. foreign competition 21. stagnation 22. abuse 23. restrictions 24. to penalize 25. ecological purity 26. to a great extent 27. to pump out 28. to reap profit

B. 1. получать прибыль 2. товарооборот 3. выкачивать 4. сеть 5. в значительной степени 6. гарантировать 7. экологически чистый 8. доступ 9. штрафовать 10. доходы от экспорта 11. ограничения 12. облагать 13. злоупотреблять 14. жестокая конкуренция 15. застой 16. контрабанда 17. иностранная конкуренция 18. таможенные власти 19. запрет 20. государственные инструкции 21. сокращение зарплаты 22. таможенная пошлина 23. беспошлинный импорт 24. удовлетворять интересы 25. криминальное преступление 26. война 27. защитник 28. переделывать.

Ex. 4 Answer the questions and make up the précis of the text “World Trade”:

1. What is world trade?

2. What do we call the country’s import and export?

3. What is foreign trade turnover?

4. What does foreign trade constitute?

5. What must a country have to take part in world trade?

6. Why is the world market a field of merciless rivalry?

7. What agency conducts its government’s policy?

8. What is customs duty?

9. What is free trade?

10. What is protectionism?

11. What forms can protectionism assume?

12. What is called aggressive protectionism?

13. What is important to the economic status of all participating countries?

14. What are world market prices determined by?

15. How is the world market characterized?

Ex. 5 Answer the following questions and write an abstract to the text “World Trade”:

1. What is world trade?

2. What constitutes country’s import and export?

3. What must a country have to take part in world trade?

4. What is customs?

5. What forms of world trade do you know?

6. How are world market prices determined?

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