WRITING. Rearrange the following sentences and part-sentences to make up a short text about market concentration in writing

Rearrange the following sentences and part-sentences to make up a short text about market concentration in writing. Make use of the following guidelines:

– Begin with a paragraph containing arguments both against and in favour of monopoly.

– Continue with a paragraph defending or justifying market concentration.

– End with a paragraph arguing that monopolies are always short-lived, and so not a problem.

A. According to this position, the government only needs to ensure that there is no monopoly over important inputs, because there will never be a monopoly of scientific or artistic genius or business ideas.

В. According to this view, market concentration arises naturally from a few successful firms growing larger as a result of increased efficiency, innovation, and economies of scale in production, distribution, R& D, capital financing, and so on.

С. a counter argument is that erecting barriers – for example, by process innovation, product differentiation, persuasive advertising, or pricing policy – in order to be successful and to make competitors less successful, is a normal part of rivalry and competition.

D. Although some people argue that any barrier to competition will inevitably lead to inefficiency,

E. An example here would be telecommunications.

F. and businesses facing no competition have no incentive to find ways to reduce costs.

G. Even the profits made by a natural monopoly will be temporary, because they are an incentive for entrepreneurs to discover and implement new low-cost technologies.

H. For example, although entrepreneurs introduce new products and techniques and open up new markets, their profits are soon competed away by rivals.

I. it is right that inventors should be granted a temporary monopoly as a reward for innovation or discovery.

J. monopolists are always able to make excessive profits,

К Some people even argue that monopolies are always temporary and consequently not a problem.

L. The arguments against market concentration, or at least against monopoly, are obvious:

M. The only common argument in favour of monopoly concerns patents:

TRANSLATION

A. Translate from English into Russian.

Market

A market is an arrangement through which buyers and sellers meet or communicate for the purpose of trading goods or services. Markets are a way in which buyers and sellers can conduct transactions resulting in mutual net gains that otherwise wouldn't be possible. Many market transactions are conducted without buyers and sellers actually meeting at a particular location. For example, you can browse through catalogues or magazine advertisements to see what various sellers are offering. If you find something you like, you can order it by mail or telephone, without face-to-face contact with the seller. You can also hire an intermediary to carry out a transaction for you.

The purpose of a market is to make information available on the goods and services sellers are willing to sell and buyers want to purchase. This exchange of information is the basis for determining prices which in turn influence the actual amount of goods and services exchanged. Prices are a major determinant of the choices we make as both buyers and sellers. Market prices play a vital role in coping with the problem of scarcity because they ration available amounts of goods and services.

To analyze the way markets operate, we first must understand the concept of supply and demand. Supply and demand analysis explains how prices are established in markets through competition among buyers and sellers and how those prices affect quantities traded.

B. Translate from Russian into English.

1. Японские товары имеют репутацию высококачественных.

2. Главная забота отечественных производителей – повышение качества изделий.

3. Производитель гарантирует доставку товара в любую часть страны.

4. Внешний вид изделия имеет большое значение для его конкурентоспособности.

5. Изучение рынка очень важно для успеха в бизнесе.

6. Начиная новое дело, необходимо провести тщательное изучение рынка сбыта товаров и услуг.

7. Многие покупатели оценивают качество товара по его надежности и долговечности.