MARKET STRUCTURE AND COMPETITION

Date: 2015-10-07; view: 454.

Reading 1

A Vocbulary

Unit 6

Choose the correct answer A, B, or C from the list bellow

1 Companies usually have a …… with senior managers at the top and employees at the bottom.

2 McDonald's have a very big …… of the fast food market.

3 Some teachers mark students' work using a …… from A to E.

4 No one's work is …… . We all make mistakes.

5 A perfect economic system may never …… .

6 A …… monopoly means an absolute or complete monopoly.

7 Not all twins are …… . Some twins are brother and sister, for example.

8 Sometimes a person's colour or race can be a …… to getting work.

9 We use curtains to …… light.

10 Countries have been …… with each other for thousands of years.

11 The …… point is where two things are balanced agains each other.

12 Honey is healthier …… for sugar to make things sweet.

13 Everyone should have …… to education.

1 A shape B structure C building

2 A piece B part C market share

3 A scale B point C grade

4 A good B better C perfect

5 A is B live C exist

6 A pure B good C clean

7 A similar B identical C same

8 A gate B barrier C block

9 A barrier B close C block

10 A shopping B trading C selling

11 A equilibrium B middle C equal

12 A difference B addition C substitute

13 A access B openings C entrance

When economists talk about market structure they mean the way companies compete with each other in a particular market. Let's take the market for pizzas, for example. There may be thousands of small companies all trying to win a share of the pizza market, or there may be only one huge company that supplies al the pizzas. These are two very different market structures, but there are many other possible structures. Market structure is important because it affects price. In some market structures, companies have more control over price. In other market structures, consumers have more control over price.