22. Translate into English

Ми змушені зробити вибір.

Ми обираємо з того, що можемо собі дозволити

Ви зможете отримати те, що вибрали

Це те, що можна назвати альтернативними витратами.

23. Answer these questions:

1) What first example of opportunity cost did the text give?

2) What did the graph illustrate?

3) Who do you think chose the ticket?

4) Why did the person make this choice, to your mind?

24. Read the following:

Choice and opportunity cost

Going out

Mary has two favourite forms of entertainment – the cinema and dancing. She has 24£ per moth which she can spend on these entertainments. She usually spends £3 on a visit to the cinema and £1.50 on a visit to the disco.

Number of visits she can make in one month

Cinema		Disco
8	and	0
______________	and	______________
______________	and	______________
______________	and	______________
______________	and	______________
______________	and	______________
______________	and	______________
______________	and	______________
0	and	16

1. Copy and complete the table to show all the different combinations of visits to the cinema and to the disco which Mary can make in one month.

2. Assume that Mary has been in the habit of going to the cinema four times each month. She now decides to visit the cinema six times each month. What will be the opportunity cost of the two additional visits to the cinema?

Unit 2 business activity Text 1: Types of business in the uk

Most businesses in the United Kingdom operate in one of the following ways:

• sole trader;

• partnership;

• limited liability company;

• branch of a foreign company.

The sole trader is the oldest form of business. There are many one-man owners, for example: a farmer, doctor, solicitor, estate agent, garage man, jobber, builder, hairdresser etc. The partnership is a firm where there are a few partners. They are firms of solicitors, architects, auditors, management consultants etc. The names of all the partners of the firm are printed on the stationery of a partnership. The most common type of company in the United Kingdom is the limited liability company. At the end of the name of such a company the word Ltd. is used. For example: Wilson and Son Ltd. Many of such companies are joint-stock companies owned by shareholders.

Limited liability companies are divided into public and private ones. Only public companies may offer shares to the public at the stock exchange. The names of such companies end in p.l.c. which stands for public limited company. For instance: John and Michael pic.

Private limited companies may not offer shares to the public. The names of such companies end simply in Ltd. A branch of a foreign company is a part of a company incorporated outside Great Britain but acting under the law of the UK. Usually these companies act in the UK under their normal foreign names.

Types of business

Private sector

Public sector

Co-operative

Sole trader

Partner-ship

Limited company

Nationalised industry

Producer co-op

Consumer co-op

Private limited company

Public limited company