a) assembly b) delivery c) control

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a) assembly b) delivery c) control

2. Information on __________ prices is available to brokers throughout the world.

a) market b) share c) trading

3. During the bear market a lot of firms went ____________________ .

a) ahead b) bankrupt c) melding

4. Monthly salaries of our staff go directly into their ____________________ .

a) invoices b) interests c) accounts

5. An error in … is committed when the financial statements include incorrect information about an item that should be included.

a) validity b) completeness c) auditing d) accuracy

6. Fixed assets are what a company __________ .

a) owes b) owns c) sells

Chose the appropriate antonyms (a – j) for the nouns (1 – 10):

1. production a.deflation

2. income b.city

3. proficiency c. lack

4. country d. consumption

5. supply e. expenditure

6. worker f.honesty

7. growth g. incompetence

8. inflation h.idler

9. corruption i. decline

10. risk j. safety

The text

Chose the appropriate phrase for each gap in the text:

Exporting to foreign markets takes two forms. Direct exporting means setting up expensive subsidiaries or (1) with foreign companies. Direct exporting does give greater control over sales channels and intellectual property protection, but the entry costs, time to market, and ongoing costs are higher. The other type is indirect exporting, which means selling goods to foreign buyers (2) such as export agents, export merchants, or buying houses. This is an especially good mode of entry for the novice exporter or for a manufacturer who (3). China is a good example. Many exporters do not have the expertise to enter the Chinese market successfully. But when they use indirect exporting, they (4) who take the product directly to the markets. This way time to entry in the Chinese market is shorter and more flexible. Exporters can receive payment earlier and risks are minimized, particularly (5) and credit risks. One of the greatest benefits is the ability to obtain export know-how and personal contacts through the export merchant or agent. The exporter can possibly (6) since the foreign export agent often represents several different related products or product lines and thus can deliver on economies of scale. Also, exporters find it easier to ascertain whether their products (7) without the effort, financial investment, or risk.

will sell well in a foreign market

volatile foreign exchange markets

realize greater sales volumes

lacks country knowledge

establishing contractual relationship

through third parties

offer their products through intermediaries

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