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Enjoy the Lesson-11

FOR MIDDLE SCHOOL

Teacher: Akmal Akbarov

Booming Counterfeit Business

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Useful Words

01.Counterfeit

02.Victimless crime

03. Organized crime

04. Sniff out the fakes

05. Warehouse

06. Illicit trade

07. Confiscated goods

08. Black market

09. Unauthentic items

10. Retailing

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Useful Words

11. Authenticate

12. Boom in

13. Bulk shipment

14. Wholesalers

15. Middleman

16. Blur the line between legal & illegal

17. Tech savvy

18. Someone's bread and butter

19. Stay ahead of the curve

20. Legitimate products

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Useful Words

21. Replica

22. Shut down

23. Commit crime

34. Curb customer demand

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What are the Consequences of Counterfeit Business

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Group-1:

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Group-2:

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Counterfeit business results in significant economic losses for legitimate industries, impacting sales, profitability, and hindering economic growth.

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Consumers face health and safety risks when purchasing counterfeit products that often fail to meet quality standards, potentially containing harmful substances or faulty components.

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Counterfeit goods can damage the reputation and trust consumers have in established brands, leading to negative customer experiences, loss of brand value, and loyalty.

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Governments experience lost tax revenues due to counterfeit business operating outside the legal framework, evading taxes and customs duties.

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Counterfeit trade often funds organized crime activities such as money laundering, drug trafficking, and human trafficking, perpetuating criminality and social harm.

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Counterfeit business can lead to job insecurity as sales decline for genuine products, resulting in downsizing and increased unemployment rates.

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Counterfeit goods violate intellectual property rights, undermining innovation and creativity, while depriving companies of the rewards for their intellectual property.

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Counterfeit production disregards environmental regulations, contributing to pollution, waste generation, and ecological damage.

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Counterfeit business involvement with organized criminal networks contributes to an overall increase in crime rates, impacting social stability and security.

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What are Your Tips for Identifying Fake from Genuine Clothing Products?

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Group-1:

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Group-2:

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Homework

Reading an article for the next lesson.