Ex.5. Match the nouns in the left-hand column with the verbs in the right-hand column

International Trade

Lesson 1

Unit Vii International business

Text: International Trade

Grammar: The Infinitive

Terms to remember:

international trade	™	міжнародна торгівля
consume (v)	™	споживати
unobtainable	™	недосяжний, недоступний
domestic	™	вітчизняний, внутрішній
living standard	™	життєвий рівень
protectionist measures	™	протекціоністські заходи
tariff	™	тариф
quota	™	квота
exchange control	™	валютне регулювання
national producer	™	національний виробник
barrier	™	бар’єр
free trade	™	вільна торгівля

International trade is the exchange of goods and services between countries. It enables countries to obtain some goods and services more cheaply than they could produce them for themselves or to consume goods and services which would otherwise be unobtainable from domestic supply sources.

Through international trade countries can improve their living standards. International trade keeps domestic prices down by creating competition at home and provides large markets abroad.

Governments can control international trade. The most common protectionist measures are tariffs (a taxon imported goods), quotas (the maximum quantity of a product allowed into a country during a certain period of time), exchange controls. They raise the price of imported goods to protect national producers.

The international trade that takes place without barriers such as tariffs, quotas and exchange controls is called free trade.

Free trade area is a form of trade integration between a number of countries, in which members eliminate all trade barriers among themselves on goods and services, but each continues to operate its own barriers against trade with the rest of the world.

Exercises in Word Study

Ex.1. Form nouns from the following verbs:

produce, consume, improve, control, protect, integrate, eliminate, operate, supply.

Ex.2. Give the English for:

міжнародна торгівля; покращувати життєвий рівень; контролювати міжнародну торгівлю; протекціоністські заходи; валютне регулювання; підвищувати ціни на імпортні товари; захищати національного виробника; вільна торгівля; усувати всі торгові бар’єри.

Ex.3. Match words from list A with words from list B that have a similar meaning:

A	B
obtain produce consume domestic raise protect barrier	obstacle defend internal elevate use up manufacture get

Ex.4. Find suitable opposites to the following words and phrases:

domestic; cheaply; obtainable; to raise the price; international trade.

tariffs   quotas   barriers

raise remove eliminate abolish impose pay exceed operate fix

Ex.6. The words in the box frequently occur before and after “trade”.

Find combinations that mean:

1. trade between buyers/sellers in one country and sellers/buyers in other countries;

2. trade between buyers and sellers in the same country;

3. an organization of producers or sellers of similar products that provides advice, information and services for its members;

4. a group of countries that agree to trade with each other on favourable terms;

5. a person or business that has supplied goods or services to a company and is owed money for them;

6. the amount by which the value of a country’s imports is greater than the value of its exports;

7. an amount that is taken off the normal selling price of a product;

8. a big exhibition where manufacturers and sellers display their goods;

9. a name or symbol that is used on the products of a particular company;

10. an action taken by a government to limit the amount or type of goods imported or exported, usually by introducing taxes and tariffs.

Ex.7. Look at the words and phrases in the box. Match them with the correct definition from the list below:

1. the level of material comfort and wealth that a person or a community has;

2. an amount that must be paid when particular goods are imported into a country, or sometimes when they are exported;

3. a limit on the amount of a particular good that may be imported into a country during a given period of time;

4. a set of restrictions imposed by a government on buying and selling foreign currencies;

5. an obstacle;

6. trade between countries with few government restrictions;

7. a system of import controls set up by a government to protect the country’s agriculture and industry from foreign competition;

8. inside a particular country.

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