Answer the questions.

l. What is the most common way of joining businesses?

2. What are the main three types-of mergers?

3. When was the Standard Oil Trust formed?

4. Can you name the most productive vertical combination?

5. Why is ITT considered the classic example of a conglomerate?

6. What are the advantages of combinations?

7. What are the disadvantages of combinations?

12* Say ^ the statements are true or false. Prove your point.

l. A merger between two or more companies that produce the same good or service or dominate one phase of the production of a good is a horizontal combination.

2. The United States Steel Corporation was the first billion-dollar horizontal combination.

3. A merger between two or more companies-that are involved in different phases of the .production of the same good or service is a vertical combination.

4. The Standard Oil Company provides a classic example of a vertical combination.

5. A merger between two or more companies producing or marketing different products is a conglomerate combination.

6. Buying additional an existing business is much more expensive than building new plants, hiring new employees and acquiring additional capital in order to expand.

7. In most mergers, the acquiring corporation obtains additional capital recourses, experience management and employees.

13* Complete the following sentences by choosing the one correct variant (a, b or c) that best completes the sentence.

1. Horizontal and vertical combinations have been common since__________

a. the mid-1960s

b.the mid -1970s

с themid-1800s

2. Multibillion-dollar corporate mergers occurred _____________________

a. in the mid-1970s

b. in the mid-1980s с in the mid-1960s

3. The classic example of a conglomerate is___________________

a. the International Telephone and Telegraph Corporation

b. the Standard Oil Company

с the United States Steel Corporation

4. One of me major business advantages of corporate mergers is__________________.

a. worker satisfaction

b. efficiency

с production facilities

5. One of the major disadvantages of corporate mergers for consumers is_____________.

a. decreased efficiency and profits

b. increased competition in the marketplace

с decreased competition in the marketplace

6. The increased size of merged corporations often makes it possible___________.

a. to borrow more capital

b. to hire new employees

c. to build new plants

7. The lack of competition in the market place may result in___________.

a. additional capital resources

b. higher prices for consumers

c. increased production efficiency

Unit 4. DISCUSSION

Study the expressions in the Useful Language box, which are used to express different language functions. The list of expressions in each function can be continued. Think of expressions, which can be added to each function.

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