Choose the best word to fill each gap from the alternatives given below. Put a circle around the letter, A, B, C of the word you choose.

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“The company of eastern Europe has changed a lot. Twenty years ago, the main industries were completely nationalized and many companies were owned by the (1) __________ They did not work well. They were inefficient and (2) __________.Now governments are trying to (3) __________ them, but it is not easy to find (4) __________ People don’t want to put money into the old companies. However, some people are happy to (5 __________ their money on new business and there are signs that a new enterprise (6) __________ is growing.”

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Choose the best word to fill each gap from the alternatives given below. Put a circle around the letter, A, B, C of the word you choose.

Aberdeen Reliance is one of the country’s smaller life insurance companies. It was set up in 1920 as a (1) __________. This means that the 15,000 people who have insurance policies with the company are (2) __________. These, in theory, own all the (3) __________ and there are no (4) __________. Last year, the board of directors wanted to sell the company to a large American (5) __________, but first they had to get the policy holders to agree to (6) __________. This was heavily defeated, proving that people still value the traditional status of the company.

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INNOVATION AND INVENTION

Fill the gap in each sentence by writing the correct form of the verb given in brackets.

1. Suzanne King is in charge of product __________ at Westworld Electronics. (develop)

2. I want to be a graphic __________ when I graduate. (design)

3. I think that the Internet is the greatest __________ of the past 50 years. (innovate)

4. We are looking for someone with __________ of databases and spreadsheets. (know)

5. Christopher Cockerell was the __________ of the hovercraft. (invent)

6. You have to pay a lot to get a good software __________ (develop)

7. Have you seen her __________ for the new shopping centre? (design)

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Draw a line from each word on the left to a word on the right to make a word pair. There is one extra word that you don't have to use. Then use your word pairs to complete the sentences below.

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1. We have made a __________ to stop people copying our invention.

2. Our drug for pain relief is made __________ in 32 countries.

3. I’m in charge of __________ at Minnow Technologies.

4. We use the latest technologies to keep our products at the __________

5. We took them to court because the original idea was our __________

6. We test all new drugs at our __________ in Zurich.

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Choose the best word from the brackets to fill the gap.

1. I bought a PC just five years ago and now it is __________ (innovative/obsolete)

2. I think that the __________ of computer control systems is fascinating. (technology/knowledge)

3. Advanced, __________ systems are great, but there is more to go wrong. (low-tech/hi-tech)

4. I receive a __________ of 10% on all my books that the publisher sells. (royalty/license)

5. Finding out how antibiotics work was a tremendous __________ (breakthrough/breakout)

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BUYERS, SELLERS AND THE MARKET

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