IV. Translate the following text into Ukrainian and do the tasks to it.

Markets exist wherever people come together to buy and sell their goods and services. In economic systems during such hours, consumers and producers exchange their goods and services in many competitive markets.

A perfectly competitive market, according to economists, requires all of the following conditions:

· Many buyers and sellers; no individual or group can influence the behavior of the market.

· Identical goods or services offered for sale.

· No buyer or seller knows more than any other about the market.

Buyers and sellers are able to enter or leave the market at will. Few markets have all these characteristics. The New York Stock Exchange, the American Stock Exchange and other similar securities markets, however, are good examples of perfect competition. The individual securities of a particular firm are totally interchangeable.

Collusion is a secret arrangement between two or more firms to fix prices or share the market. These agreements are usually illegal.

Public Utilities are privately owned firms that provide an essential public service. They are granted a monopoly because it is felt that competition would be harmful to the public interest.

Trademarks are special designs, names or symbols that identify a product, service or company. Many businesses are naturally interested in growing and controlling as much of a market — or several markets — as possible. One way to accomplish this goal is through a merger.

Mergers fall into three categories: horizontal, vertical, or conglomerate.

The combination (or «integrating») of two or more com­panies engaged in the same business is a horizontal mer­ger. The combination of two or more book publishing firms would be an example of a horizontal merger or horizontal integration.

A conglomerate merger combines two or more unrelated businesses under a single management (pp. 87—94).

V. Give English equivalents of the following:

комунальні послуги ринок

торгова марка об'єднання (підприємств)

надавати перевагу угода

конкуренція за власним бажанням

взаємозамінний патент монополія

мати вплив на ринок продавець

покупець

VI. Fill in the blanks with appropriate words:

1. Economists often speak of the «structure» of a....

2.... are able to enter or to leave the market at will.

3. A market in which there is only one seller is a....

4.... motivates producers to improve the quality and increase the variety of goods and services.

5. «Coke» is a... of the Coca-cola Com­pany.

6. In a monopoly supply is determined by a single....

7. Under conditions of perfect competi­tion... could be found at the inter­section of the supply and demand curves.

8. The products of certain industries such as aluminium, chemicals and electro­nics, are protected by....

(buyers and sellers; monopoly; trademark; patents; market; competition; firm, market price)

VII. Translate into English:

1. Ринок існує скрізь, де люди збираються разом, щоб купити або продати свої товари та послуги. 2. Покупці та продавці можуть виходити на ринок або залишати його за власним бажанням. 3. Приватні цінні папери певної фірми цілком взаємозамінні. 4. Зговір — це секретна домовленість між двома або більше фірмами про встановлення цін і розподіл ринку. 5. Конкуренція в сфері підприємств гро­мадського користування вважається шкідливою для громад­ського інтересу. 6. Одна з умов найбільш конкуренто-спроможного ринку це те, що жодна приватна особа або група не можуть мати вплив на ринок. 7. Конгломерат об'єднує дві або більше незалежних фірм під єдине керів­ництво.

Card V