Методические указания по изучению английского языка на 3 курсе заочного факультета. Якушева И.В - 18 стр.

   5. What does the ruling price indicate?
   III. Переведите текст устно, выписав незнакомые слова и выражения с
транскрипцией и переводом в словарь.
   IV. Переведите письменно 2 и 3 абзацы текста.

   Text 4
                               Markets and Monopolies
     The term "market" as used by economists, is an extention of the ancient idea
of a market as a place where people gather to buy and sell goods. In former days
part of a town was kept as the market or marketplace, and people would travel
many kilometres on special market-days in order to buy and sell various com-
modities. Today however, markets, such as the world sugar market, the gold mar-
ket and the cotton market do not need to have any fixed geographical location.
Such a market is simple a set of conditions permitting buyers and sellers to work
together.
     In a free market, competition takes place among sellers of the same commod-
ity, and among those who wish to buy that commodity. Such competition influ-
ences the prices prevailing in the market. Prices inevitably fluctuate, and such
fluctuations are also affected by current supply and demand.
     Whenever people who are willing to sell a commodity contact people who are
willing to buy it, a market for that commodity is created. Buyers and sellers may
meet in person or they may communicate in some other way: by letter, by tele-
phone or through their agents. In a perfect market there can be only one price for
any given commodity: the lowest price which sellers will accept and the highest
which consumers will pay. There are, however, no really perfect markets, and
each commodity market is subject to special conditions. It can be said however
that the price ruling in a market indicates the point where supply and demand
meet.




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