Grammar practice

V. Find in the text some sentences in the Active Voice, copy them into your exercise books, give simple grammar analysis of these sentences.

VI. Find in the text some sentences in the Passive Voice, copy them into your exercise books, give simple grammar analysis of these sentences.

VII. Find in the text sentences with the Infinitives and define their forms and functions. See Grammar in Use section if necessary.

VIII. Find in the text sentences with the Conditionals and define their types.

Language practice

IX. Make up sentences using the following words

1. together, competitive, linked, different, to be, countries, markets, in.

2. or, affect, in, foreign, demand, shifts, curves, markets, supply, domestic.

3. when, traded, to be, a, in, of, a, commodity, countries, number, one, country, depends, on, of, its, country, in, price, another, the, price, in.

4. trade, without, barriers, sell, suppliers, would, in, the, with, the, market, price, highest.

5. restrictions, in, transport, practice, costs, and, trade, international, differences, price, commodity, allow, in, the, of, a.

X. Fill in the gaps with the verbs given in brackets

1. Changes in domestic markets (cause) by the changes of the conditions in the other countries.

2. Why (to be) there a shift in the domestic supply and demand curves when there (to be) changes in the foreign market?

3. The trade barriers and transport restrictions being not obligatory, international competition (ensure) that prices of the same good in different countries generally (move) together.

XI. Answer the following questions

1. Do shifts in foreign supply and demand curves affect domestic markets?

2. When is the price of a commodity in one country dependent of its price in another country?

3. What does the Law of One Price mean?

4. Are there any international differences in the price of a commodity?

XII. Translate from Russian into English

1. Изменение условий на внутреннем рынке часто является результатом каких-либо событий в других странах.

2. Конкурентные рынки разных стран связаны вместе.

3. Смещения на импортных кривых спроса или предложения отражаются на внутренних рынках.

4. Закон одной цены предполагает, что при отсутствии препятствий в торговле, таких как, например, транспортные расходы, цена на данный предмет потребления будет одинаковой во всем мире.

5. Применение таких защитных мер, как тарифы и пошлины, не позволяет продавать один и тот же товар по одной цене в разных странах.

Speaking

XIII. Work in groups of three or four and think of any example of a commodity traded in two neighbour countries and define whether there are any differences in the their prices and what are the reasons of that.

X IV. Prepare a 2 minutes report on the topic «Competition on the World Market»

Tip:

Section 5.4. Oligopoly key vocabulary