3. Counterfeiting In the following lesson we are going to study an interesting topic: counterfeiting and its economic implications. According to the Cambridge On Line Dictionary counterfeit is an adjective that describes fraudulent copies of something. The idea behind it is to make money without paying taxes or overheads. The questions underlying counterfeiting issues are two: who is responsible for it, and to what extent we can blame the people who buy copycat products. Lesson 5