2.What is a market?

WHAT IS A MARKET?

VOCABULARY

self-sufficient – самодостаточный

division of labour – разделение труда

trades and occupations – ремесла и профессии

inevitable - неизбежный

to obtain – приобретать

to seek out – пытаться найти

stall holders – владелец киоска (палатки, ларька)

arrangement – соглашение, договоренность

to conduct a transaction – осуществлять сделку

net profits – чистая прибыль, доход

location - место

to browse through – просматривать

advertisement – реклама

actual – фактический, реальный

determinant – определяющий фактор

to cope with – справляться с чем-либо

to ration- нормировать, распределять

1. The most common way we obtain goods and services is to buy them from others who specialize in producing them. To make such purchases, buyers seek out sellers in markets.

2. What is a market?

· A market as a place outside in the open air, where you can go and buy things from stall holders . This is the oldest form of a market but only one type of market.

· A market is an arrangement through which buyers and sellers meet for the purpose of trading goods and services.

3. Any market transactions are conducted without meeting buyers and sellers at a particular location.

· For example, you can browse through catalogues or magazine advertisements in the Internet. If you find something you like, you can order it by mail or telephone or Internet, without face-to-face contact with the seller.

4. The purpose of a market is to make information available on the goods and services sellers are willing to sell and buyers want to purchase.

5. There are different types of markets:

· domestic (home) market

· foreign market

· foreign exchange market - FOREX market, FOREX, FX market,

· black market

· Stock Market

· world market