Exercise 6. Give the Russian and Azerbaijan equivalent of the phrases. 1.
permeate economic life
2.
methods of production
3.
quantities of products
4.
distribution of resources
5.
market prices for consumer goods
6.
to get the highest price
7.
to set a price
8.
to clear the market
9.
to determine the willingness of customers and rivals
10.
to get much revenue
11.
to represent the lowest price
Exercise 7Translate the text Perfect Competition Wheneconomists analyze the production decisions of a
firm, they take into account the structure of the market in which
the firm is operating. The structure of the market is determined
by four different market characteristics: the number and size of
the firms in the market, the ease with which firm may enter and
exit the market, the degree to which firms’ products are
differentiated, and the amount of information available to both
buyers and sellers regarding prices, product characteristics, and
production techniques.
Economists distinguish among four differentmarket
