Variant 2.

Task 1. Fill in the missing letters.

l…gal; as…et; tou…h; su…ply; desi…n;

en…ure; forei…n; a…quire; a…umen; con…ept;

se…urity; effi…ient; perc…ive; a…thority; mer…urial;

guarant…e; expan…ion; conv…nience; conven…ional; in…eniousness;

10 points

Task 2. Give the English equivalents for:

1. Прибуток; 2. рівень життя; 3. постачальник; 4. прямі інвестиції; 5. глобальний ринок; 6. електронний бізнес; 7. комерційна діяльність; 8. новатор; раціоналізатор; 9. вітчизняне підприємство; 10. підприєм-ницька культура; 11. юридична відповідальність; 12. традиційна (звична) торгівля; 13. акціонер; власник пакету акцій; 14. прибутковий, вигідний, дохідний; 15. зайнятість (робочої сили); робота, служба; 16. спільне підприємство (СП); спільна діяльність; 17. клієнт; замовник; фірма, пов’язана з даною компанією; 18. життєздатний; такий, що спонукає ефективну життєдіяльність; 19. мультинаціонал, мультинаціональна (багатонаціональна) компанія (корпорація); 20. одноосібне підприємство; підприємство, що перебуває в управлінні однієї людини; підприємство з одним працівником.

20 points

Task 3. What do these abbreviations stand for?

1. DIY	_________________________________________________;
2. LBD	_________________________________________________;
3. SMB	_________________________________________________;
4. CEO	_________________________________________________;
5. MNE	_________________________________________________.

5 points

Task 4. Distribute the following synonyms of “BUSINESS” into two columns according to their meaning: BUYING AND SELLING (column A) and BUSINESS ENTITY (column B).

1. Firm;	6. concern;	11. institution;	16. free enterprise;
2. trade;	7. dealings;	12. commerce;	17. merchandising;
3. office;	8. company;	13. transactions;	18. entrepreneurship;
4. trading;	9. exchange;	14. negotiations;	19. a business venture;
5. agency;	10. a business;	15. an operation;	20. commercial organization.

A BUYING AND SELLING	B BUSINESS ENTITY
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------	----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------

40 points

Task 5. Complete each sentence with the correct form of one of the words from Task 4 (for some sentences there may be more than one way to be completed).

1. _____ is widely regarded as an integral player in the business culture of American life, and particularly as an engine for job creation and economic growth.

2. A Branch office is an _____ that serves a certain geographic or demographic area to expand the access of customer services and other services available to beyond the home office.

3. An _____ is a business that serves other businesses.

4. I’ve had some _____ with him, but I don’t know him very well.

5. In Eastern Europe, particularly in Russia, the term “_____” is commonly used within the trading industry and denotes all marketing and sales stimulation activities around PoS (point of sale).

6. In the 16^th century, Holland was the centre of free _____, imposing no exchange, and advocating the free movement of goods.

7. In the United States, a _____ is a corporation that carries on an industrial enterprise.

8. Market is the _____ or selling opportunities provided by a particular group of people.

9. The _____ system guarantees business owners the right to all profits (after taxes) earned by the business.

10. Today^[update] _____ includes a complex system of companies that try to maximize their profits by offering products and services to the market.

20 points

Task 6. Each sentence contains a mistake. Correct the sentences.

1. A business friend is an investor who helps new companies develop by lending them his own money, which may involve a lot of risk.

2. Sole proprietorships are the least numerous kind of business organization, but most are very small.

3. Modern world is dominated by Soho’s.

4. Euro-ad is an advertisement engineered to be suitable for all countries in the European Union.

5. Sir William Gates is seen as different from the typical businessman, because he has long hair and does not wear a suit.

6. Coco Chanel, a French fashion designer, is known especially for a simple type of women’s suit and for the great black dress, which she invented.

7. International business success requires as much business acumen as managing a domestic enterprise.

8. Avoiding eye contact can be regarded as a sign of respect in Europe and North America.

9. Business is commonly defined as the art of removing money from a person’s pocket applying violence.

10. When you engineer something, it is completely new and noting of the kind has existed before.

20 points

Task 7. Use the terms in the box to complete the paragraph.

joint	NAFTA	cooperate	agreements	cross-national
labour	political	integration	organizations	World Trade Organization

Integration suggests (1)_____ and economic (2)_____ among countries that gives preference to member countries to the agreement. General (3)_____ can be achieved in three different approachable ways: through the (4)_____ (WTO), bilateral integration, and regional integration. In bilateral integration, only two countries economically (5)_____ with one and other; whereas in regional integration, several countries within the same geographic distance become (6)_____ to form (7)_____ such as the European Union (EU) and the North American Free Trade Agreement ((8)_____). Indeed, factors of mobility like capital, technology and (10)_____ are indicating strategies for (9)_____ integration along with those mentioned above.

20 points

Task 8. What type of company is the sentence about? Put number of each sentence in the correct column in the table below.

A SMALL BUSINESS	A MEDIUM FIRM	A LARGE FIRM / CORPORATION

1. In the UK, firms employing less than 20 staff make up 97% of all businesses.

2. Last year this company had revenue of $32 million.

3. The company employs around 300,000 people and has business premises located in European countries as well as Mexico, the United States and China.

4. This German consulting firm employs 150 people.

5. The Walt Disney Company now has annual revenue of $30 billion.

10 points

Task 9. Are the following statements true or false?

	True	False
Business gifts are commonly used as a means of advertising.		
Company names of American corporations usually contain the abbreviation Ltd. (for limited).		
A successful entrepreneurial venture creates substantial wealth, typically in excess of several million dollars of profit.		
A nation’s positive balance of trade will always lead to a surplus balance of payments.		
Intrapreneurs are outside entrepreneurs hired by an organization to develop a new product or line of business.		

5 points

Task 10. Choose the correct alternative from the brackets.

1. The volume of Edison’s work – (193 / 1,093) patents in 20 different areas – is staggering.

2. Hershey’s Milk Chocolate is America’s best-loved chocolate brand with a legacy of quality spanning over (50 / 100) years.

3. Ty, Inc., made $ (100 / 700) million in a single year without spending money on advertising!

4. The first modern MNC is generally thought to be the Dutch East India Company, established in (1602 / 1902).

5. British Petroleum plc is the (first / third) largest global energy company.

10 points

Task 11. Name 10 most powerful companies you know and the respective fields of their activities.

A COMPANY	B FIELD OF ACTIVITIES
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20 points

Task 12. Give definitions of the following concepts (in writing).

1. Tycoon	________________________________________________
	________________________________________________
	________________________________________________ ;
2. freelancer	________________________________________________
	________________________________________________
	________________________________________________ ;
3. joint venture	________________________________________________
	________________________________________________
	________________________________________________ ;
4. business angel	________________________________________________
	________________________________________________
	________________________________________________ ;
5. standard of living	________________________________________________
	________________________________________________
	________________________________________________.

20 points