Monopolies and competition

Economists consider every business to have competition. Merriam-Webster defines competition in business as "the effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms." It may stimulate innovation, encourage efficiency, or drive down prices. According to microeconomic theory, no system of resource allocation is more efficient than pure competition. Competition, according to the theory, causes commercial firms to develop new products, services, and technologies. This gives consumers greater selection and better products. The greater selection typically causes lower prices for the products compared to what the price would be if there was no competition or little competition.

Scientists believe competition to exist at different sizes; some competitions may be between two members of a species, while other competitions can involve entire species. In an example in economics, a competition between two small stores would be considered small compared to competition between several mega giants. As a result, the consequences of the competition would also vary the larger the competition, the larger the effect. Honestly evaluating your competition will help you better understand your own product or service and enable you to know how best to distinguish your company in the consumer’s eyes and it points to opportunities in the market.

Although in a perfect market, competition is unrestricted and sellers are numerous, free competition and large numbers of sellers are not always available in the real world. Our strict definition of a perfectly competitive market is a market in which every firm is too small to affect the market price. If a firm can appreciably affect the market price of its output, then the firm is classified as an “imperfect competitor”. Imperfect competition prevails in an industry whenever individual sellers have some measure of control over the price of output in that industry. Imperfect competition does not imply that a firm has absolute control over the price of its product but at least some discretion in its price decision.

Now read the text and answer these questions:

1. What will help you better understand your own product or service?

2. What do the components of customer preference include?

3. Why is it necessary to estimate the internal strength of your competitors’ companies?

4. Which companies will prove to be tough, enduring competition?

5. What is a perfectly competitive market?

Complete the following sentences according to the text:

1. Honestly evaluating your competition …

2. The components of customer preference …

3. Our strict definition of a perfectly competitive market is …

4. If a firm can appreciably affect …

5. Imperfect competition prevails …

Fill in the table with the derivatives

Verb	Noun	Adjective	Adverb

Compete, depend, variety, favorable, independence, commerce, select, type, competitor, persistently, compare, typically, commercial, independent, competition, persistence, comparative, selection, comparatively, vary, persistent, restrict, favor (2), number (2), comparison, independently, restricted, numerous, competitive, class, various, typical, classify, persist, selective, restriction.

Вариант 4.

Задание 1.

Подберите к следующим вопросам ответы:

1. Must he or must his brother help me? 1. These books (are). 

2. Do you feel well? 2. Yes, I do.

3. Will that house be built next month? 3. His brother must.

4. What books are interesting? 4. No, it won't.

Образуйте вопросы по образцу:

You can't speak Spanish. – You can't speak Spanish, can you?

5.Mary is playing the piano very well.

6. He was listening to the concert on TV at 7 p.m.

Составьте вопрос, на который это предложение может быть ответом:

7. No, I haven't been to Paris.

Поставьте глагол Past Perfect, Past Simple или Past Continuous и переведите предложения:

8. By six o’clock yesterday you (to do) your homework and at six you (to watch) a video film.

9. By 4 o’clock the girl (to come) home and at two she (to have) dinner.

10. My parents (to come) home by six o’clock.

Заполнить пропуски, поставив глагол (в будущее совершенное время):

11. The police … (arrest) the thief by the next morning.

12. If they can do it then they … (fulfill) their mission.

Задание 2.

Вставьте соответствующие предлоги:

1. There was a big pot ____ water ____ the top ____ the stove.

2. She spoke English ____ a French accent.

3. The teacher was pleased _______ our work.

4. Put these flowers _______the windowsill.

Переведите на русский язык предложения с фразовыми глаголами:

5. We will deal with the problem later.

6. They ended up visiting their friends after shopping last night.

7. He finally figured out how to solve the problem.

8. I plan to go over your task later.

Поставьте в предложения подходящие фразовые глаголы с предлогом up в необходимой грамматической форме: wake – pick – bring — eat — give – look – set — get — tidy – break

9. You should not … up boxing. You are a very talented man.

10. I have not … up the living room. It is dirty.

11. Don’t … her up too early in the morning.

12. I always … up the new words in the dictionary.

Задание 3.

Поставьте глагол в Present Simple или Present Continuous:

1. Dan is in Britain now and he (to write) a letter about his holidays.

2. Sam’s future (to depend) on his parents.

3. Now tourists (to take) part in a band festival.

4. We ... three English lessons a week.

Исправьте ошибки.

5. You can borrow my umbrella. I not needs it now.

Составьте вопросительное предложение Past Simple из данных слов:

6. did/ train/ last/ you/ by/ when/ travel?

Вставьте слова will / to be going to.

7. – This room is very hot. – You are right. I … open the window.

Измените предложения, употребляя to be going to по образцу: My intention is to watch a TV film tonight. I am going to watch a TV film tonight.

8. I decided to move to the country.

Раскройте скобки и поставьте глаголы в Present Continuous

9. My parents (to work) now.

Переведите предложения на русский язык, обращая внимание Participle I

10. I heard him shouting something from the opposite shore.

Раскройте скобки, употребив Participle I. Переведите предложение

11. She entered the room (to smile). 

Выберите правильный вариант

12. I wonder if that terrible wind (______) tomorrow.” – “Oh, yes. The weather forecast says it (______) for another two weeks.

а) will blow, will blow, b)will be blowing, will be blowing, c)will blow, blows

Задание 4.

Употребите следующие предложения в Past Progressive, уточняя действие наречиями. Образец: I went to the cinema yesterday. – I was going to the cinema yesterday at three.

1. They watched a good film.

Поставьте вопросы, на которые нижеследующие предложения могут быть ответами. Образец:

No, I was not playing chess at six. – Were you playing chess at 6?

2. Yes, we were passing the British Museum yesterday at 5 p.m.

Раскройте скобки, употребляя глаголы в Past Indefinite или Past Continuous:

3. He (to play) computer games from two until three yesterday.

4. We (to play) computer games out all day long yesterday.

Употребите Present Perfect:

5. They ... (to know) each other since 2013.

6. I … (not to read) a lot of Russian books yet.

Допишите предложения при помощи слов: already, just, since, for, ever, yet:

7. They have … finished their breakfast.

8. Our children haven’t been at school … a week.

Исправьте ошибки и напишите правильный вариант:

9. Now, they is playing tennis.

10. We are listening to the concert yesterday at four p. m.

11. We know each other for many year. He is my best friend.

12. He go to the library every week.

Задание 5.

Поставьте предложение в соответствующее будущее время:

1. We hope they (tell) her the news by the time they (come).

Переведите предложения, обращая внимание на перевод модальных глаголов и их эквивалентов:

2. I`m sure, she`ll be able to come to our party.

3. I needn`t walk, there is a bus going there.

Составьте предложения, используя модальные глаголы и их эквиваленты:

4. You didn’t thank your grandmother for the lovely gift.

Ought to you ____________ your grandmother for the lovely gift.

Вставьтеneedn’t / have to/ mustn’t/ didn’t need to /have to или needn’t have:

5. The notice says that club members _____ use the pool unattended.

Вставьте подходящий модальный глагол:

6. You _____ drive for a year in Britain with an international license.

Вставьте подходящий модальный глагол или модальный оборотcould, was/ were able to или couldn’t:

7. My grandmother loved music. She _______ play the piano very well.

Вставьте подходящий модальный глагол или модальный оборот mustn’t или don’t / doesn’t have to:

8. You _______ forget what I told you. It is very important!

Переведите предложения на английский язык:

9. Я вынужден был сделать это.

10. Не хотите еще чая? Вставьте подходящий модальный глагол или модальный оборот:

11. Where are my gloves? — I … put them on because it’s cold today.

a) can’t

b) have to

c) needn’t

12. We have got plenty of time. We … hurry.

a) must

b) needn’t

c) should

Задание 6.

Переведите письменно текст, выполните задания к тексту:

Before you read

- What is the national currency of the UK?