Unit 7
pure=clean competitive portion=part,
fragment output single=one, individual have an influence ON
sth.= influence sth. condition=term,
circumstance characterise homogeneous=unifor
m, same
sell-sold-sold identical nearly=almost perfectly (adv.) be substitutable for
sth.=be interchangeable advertise advantages vs.
disadvantages distinguish=differentiate consumer competing
independent of sth. exist assumption=
premise, presupposition
rule out= eliminate, rid of, reject
collusion= a secret agreement btw. Two or more parties for a deceitful purpose
affect sth.=influence ensure=secure commodity=good
relative to=in proportion to
perceptible=noticeable barrier=obstacle entry vs. exit feature=characteristic essential=basic raw material regulation behaviour=demeanour equal access=approach
basis (sing.) –bases (pl.)
the basis for sth.=the grounds for sth.
prevail=dominate v. act in fact=actually in turn extreme amount therefore=thus=henc
e seek-sought-sought=
search
maximise=increase be composed of sth. refer to sth. as… rare=uncommon monarch=king grant=give a favour or
a right individual a variety of sth.=
range, scope, diversity undertaking=task,
project, labour, venture
empower=give the right to sth.=entitle
entire exert=apply,
use,have manifest=reflect,
show, demonstrate v. charge apply sth. TO sth. technically concern sth.= be
related to, be relevant
criterion - criteria
exhibit=demonstrate, show
substitutabilty isolation a matter of degree raise-rasied-raised consideration=conditi
on, information; regard
legal economies of scale merchant-trader