Competition

All businesses produce goods and services and seek profits. And they all compete with other businesses in doing so. Competition is universal in the world of business.

Businesses do not compete only in selling things. They compete for labour, capital, and natural resources. Price competition informs millions of independent people in millions of markets, coordinating them effectively—as if by “an invisible hand,” as Adam Smith, the father of economics, once put it.

Suppliers also engage in nonprice competition. They try to improve their products to gain a competitive advantage over their rivals. To this end, they incur the costs and risks of product innovation.

If a business is going to survive in the face of competition, it needs a constant flow of new ideas. It needs managers who are good at developing new products, finding new ways of reduce costs, and thinking of new ways to make products attractive to consumers.

In the 1960s Xerox had a virtual monopoly on producing copying machines because the company had major patents. Rivals like Kodak, Cannon, and 3M spent huge amounts of money on getting new patents. They succeeded in obtaining new patents, and now Xerox is just one among many competitors in the copier market

Контрольная работа № 3

Вариант №5

I. Подчеркните сказуемое предложений, определите его видовременную форму, переведите предложения на русский язык.

1. All the shareholders participate in running the bank.

2. All the retained profits of the bank will belong to the shareholders.

3. They had delivered the new equipment by the end of the week.

4. The price will be changing.

5. A demand for accounting information existed because of valuable aid in improving investment decisions it gave.

6. Our company has just received the new contract by e-mail.

II. Coотнесите видовременную форму страдательного залога в первой колонке с соответствующим названием во второй колонке.

1. will be delivered	a. Past Continuous Passive
2. had been delivered	b. Present Simple Passive
3. were being delivered	c. Past Simple Passive
4. are delivered	d. Future Perfect Passive
5. have been delivered	e. Past Perfect Passive
6. was delivered	f. Present Continuous Passive
7. will have been delivered	g. Future Simple Passive
8. is being delivered	h. Present Perfect Passive

III. Подчеркните сказуемое предложения, определите его видовременную форму и залог, переведите предложения на русский язык.

1. The catalogues have just been received.

2. The scientist who wrote this article will give a lecture at our University.

3. These cars are insured in Gosstrakh.

4. The other counterpart didn’t fulfill the terms of the contract.

5. This factory is being re-equipped at the moment.

6. The first part of this book is being printed in St.Peterburg, and the second part will be printed in Moscow.