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a) small food shops;
b) markets that sell cheap second-hand goods, including clothes, jewellery, books, pots and pans;
c) sheltered markets;
d) market places in the open air.
2.b Match the following words with the definitions above:
| 1. Mini market | 2. Flea market |
| 3. Stock market | 4. Super market |
| 5.Covered market | 6. Outdoor market |
4. What types of markets are there in the city you live in? Where do you prefer to buy goods in shops or in markets? Why?
TEXT A
PRE-READING
1. Read the following definitions for the term ‘market’. Which one, from your point of view, is the most appropriate?
a) the total demand for a good;
b) the set of all actual and potential buyers of a product or service;
c) the place where people buy and sell;
d) the process by which buyers and sellers of goods, services and factors of production interact to determine prices and quantities.
2. 
Read the text and check your answer:
The term ‘market’, as used by economists, is an extension 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 used to travel many kilometers on special market-days in order to buy and sell various commodities.
Today, however, markets such as the world sugar market, the gold market and the cotton market do not need to have any fixed geographical location. Such a market is simply a set of conditions, permitting buyers and sellers to work together. Buyers and sellers may meet in person, or they may communicate in some other way; by letter, by telephone or through their agents.
Whenever people who are willing to sell a commodity contact people who are willing to buy it, they create a market for that commodity. Each commodity market is subject to special conditions. According to the conditions under which the competition takes place considerably stable market structures may arise. These structures differ from one another in number of participants, nature of products and in ways of entering the market.
The most typical and wide-spread market structures are perfect competition and monopoly.
Perfect competition is the market where there is a large number of buyers and sellers, freedom to enter and leave markets, a complete flow of information, etc. In such a 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. It can be said however that the price prevailing in a market indicates the point where supply and demand meet.
Economists consider perfect competition as an ideal market structure. There are, however, no perfect markets in practice but it is necessary to build up (make up) such models and study them. They serve as a standard by which real market structures are judged.
3. In the text find single words in italics for which these words and word combinations can be substituted:
| a) originally; | b) by post; | c) particular; |
| d) face-to-face; | e) which governs; | f) rivalry; |
| g) permanent; | h) movement; | i) shows; |
| j) under the influence of |
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