В. А. Шляхова, О. Н. Герасина, Ю. А. Герасина английский язык для экономистов english for economists

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particular goods and services.
Markets exist in many forms. The gas 
station, the fast-food outlet, the music store, a farmer’s roadside 
stand – all are familiar markets. The New York Stock Exchange and 
the Chicago Board of Trade are highly organized markets where 
buyers and sellers of stocks and bonds from all over the world are 
brought into contract with one another. Similarly, auctioneers bring 
together potential buyers and sellers of art, livestock, used farm 
equipment, and sometimes real estate. All these situations which 
link potential buyers with potential sellers constitute markets. As 
our examples show, some markets are local while others are national 
or international. Some are highly personal, involving face-to-face 
contract between demander and supplier; others are impersonal 
in that buyer and seller never see or know one another.
Let us look at the functioning of 
purely competitive markets.
Such markets presume large numbers of independently acting 
buyers and sellers interested in exchanging a standardized 
product.
These markets are not the music store or gas station where 
products have price tags, but competitive markets such as a central 
grain exchange, a stock market, or a market for foreign currencies 
where the equilibrium price is «discovered’ by the interacting 
decisions of buyers and sellers. Similarly, we know how prices are 
established in resource markets by demand decisions of competing 
businesses and supply decisions of competing households.
Задание 1.
 Переведите на русский язык абзацы 3, 5.

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