Topical vocabulary unit V

1. To compete

• competitor

syn. rival

• would-be/ potential competitor

• competition (strong, stiff, severe, fierce, tough, cutthroat)

• [non]price competition

• [im]perfect competition

• monopolistic competition

• competitive

• competitive advantage

syn. (competitive) edge

• competitive environment

• competitiveness

• to beat a competitor

• to undercut a competitor

• to withstand / fend off competition

• to encounter/ face competition

2. to allocate

• allocation

3. to substitute (for)

• substitute (n)

• substitution

4. cost (s)

• cost leadership

• cost advantage

5. to absorb

6. profit margin

7. target market / customer

8. differentiation

• product differentiation

9. value-for-money

10. a bargain

11. superior / inferior

12. monopoly / oligopoly / monopsony / oligopsony / natural monopoly / pure competition

13. to charge a price

14. price-taker

15. to command a premium price

16. price discrimination

17. price fixing

18. price war

19. pricing power

20. market power / clout

21. unfair business practices

22. to impede

• impediment

23. to jokey (for)

24. market leader

• market challenger

• market follower

25. a runner-up

26. a counterpart

27. counterfeit

28. niche

• to niche

• niche (adj) market / customer

• market nicher

29. market saturation

30. a crowded market

31. to conform (to)

32. antitrust laws/regulation/ regulator/ case

33. regulatory authority

34. a penalty

35. to scrutinize

• scrutiny

36. to outperform/ to surpass/ to outweigh

37. to lag behind/ to fall behind

38. to cannibalize

39. to woo/ to lure customers

PRaCtice tests quiz (20 minutes)

1. Переведите следующие словосочетания на русский язык:

1. economic output

2. durable goods

3. growth rate

4. boom and bust

5. higher interest rate

6. consumer spending

7. to boost retail sales

8. capital goods

9. leading indicators

10. annual output

2. Переведите следующие словосочетания на английский язык:

1. благоприятная экономическая ситуация

2. с учетом инфляции

3. снижение объемов продаж комплектующих

4. наметить ориентиры на следующий год

5. повышать уровень жизни населения

6. рост курса иностранной валюты

7. ВВП в реальном выражении

8. ускорение темпов инфляции

9. избыточные мощности

10. удовлетворить внутренний спрос

3. Переведите следующие предложения на русский язык:

1. Combined GDP in the BRICs will rise to more than $14 trillion this year from $2.8 trillion in 2002, according to the IMF.

2. Sharply rising demand for Australian coal has left port facilities far behind.

Final Test (90 minutes)

Переведите текст на русский язык с использованием словаря.

Indonesia’s Gross Domestic Product Grows 4.73% in Third Quarter

Indonesia’s economy expanded at a slightly faster clip in the third quarter as increased government spending helped lift economic growth from a six-year low.

The improved performance offers some respite for President Joko Widodo, who has struggled to deliver the accelerated growth he promised amid legislative hurdles and a slowdown in China, Indonesia’s largest market for commodities.

Southeast Asia’s biggest economy grew 4.73% in the July-to-September period from a year earlier, compared with a 4.67% growth rate in the second quarter. The $800 billion economy grew 3.21% from the previous three months after a 3.78% expansion in the second quarter, the official Central Statistics Agency said Thursday.

Yet, growth was below the 5.8% average recorded over the past decade, and fell short of many economists’ expectations. Economists polled by The Wall Street Journal had forecast GDP growth of 4.8% from a year earlier and 3.28% from the previous quarter, raising concerns of the continuity of the growth acceleration.

The statistics agency said government spending improved 6.56% in the third quarter from a year earlier. Household consumption, which accounted for 55% of the gross domestic products in the third quarter, advanced 4.96% in the July-September period from a year earlier. It stayed steady from the 4.97% growth in the second quarter.

Since late September, Mr. Widodo has introduced a raft of policies to make it easier to invest in the country and boost household purchasing power, measures his administration hopes will help drive economic growth.

Weaker-than-expected growth recovery in the third quarter strengthens the case for the central bank to cut interest rates, economists said.

www.wsj.com