Variant 3.

Task 1. Fill in the missing letters.

c…cle; s…ale; s…ope; t…coon; v…able;

ex…ibit; li…ence; vent…re; pion…er; spe…ific;

tan…ible; d…namic; invi…ible; co…esion; de…eption;

freelan…er; consor...ium; entreprene…r; m…ltinational; overw…elming.

10 points

Task 2. Give the English equivalents for:

1. Продукція; 2. ділова жилка; 3. власна справа; 4. підприємництво; 5. фінансова безпека; 6. творчий, креативний; 7. підприємницькі ризики; 8. товариство, партнерство; 9. заняття, справа; професія; 10. покривати витрати, збитки; 11. соціокультурне середовище; 12. комерційно-промислова зона; 13. службовець, працівник, робітник; 14. квартира-офіс (дрібного підприємця); 15. іноземна власність; власність за кордоном; 16. обіг; обсяг реалізації; обсяг продажу; товарообіг; 17. дочірнє підприємство; підконтрольне підприємство; філіал; 18. ведення (ділових операцій); виконання (справи); справа; угода; 19. відкрити (розпочати) свою власну справу; відкрити торговельне підприємство; 20. кількість штатних працівників; кількість співробітників за штатним розписом; кількість посад за штатним розписом.

20 points

Task 3. What do these abbreviations stand for?

1. R&D	_________________________________________________;
2. SoHo	_________________________________________________;
3. WTO	_________________________________________________;
4. MBA	_________________________________________________;
5. MNC	_________________________________________________.

5 points

Task 4. Distribute the following synonyms of “BUSINESS” into two columns according to their meaning: EVENT (column A) and SOMETHING TO DEAL WITH (column B).

1. duty;	6. matter;	11. problem;	16. implication;
2. case;	7. episode;	12. situation;	17. engagement;
3. affair;	8. incident;	13. happening;	18. involvement;
4. thing;	9. concern;	14. obligation;	19. circumstance;
5. worry;	10. function;	15. occurrence;	20. responsibility.

A EVENT	B SOMETHING TO DEAL WITH
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------	----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------

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. An _____ may refer to professional, personal, or public business matters or to a particular business or private activity.

2. What’s the _____?

3. The company has a duty to its shareholders.

4. They are the best cameras on the market. The only _____ is they are incredibly expensive.

5. The company is in a crisis _____.

6. Unfortunately, business failures are a common _____.

7. The _____s of this case are unusual.

8. Our _____ with this project started way back in 1989.

9. We have no _____ with this incident.

10. The bank’s financial weakness became a source of _____.

20 points

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

1. Theme parks are areas of land, usually outside a town or city, which are especially designed for offices and small factories.

2. A sole trader is a business organiza­tion created under a government charter.

3. Ford designed the idea of the assembly line (= system in which each worker is responsible for one small part of the process of making something).

4. Caesar salad that comprises romaine lettuce and croutons dressed with parmesan cheese, lemon juice, olive oil, egg, Worcestershire sauce, and black pepper is named after Julius Caesar.

5. Apple Inc. is an American multinational corporation that produces America’s best-loved chocolate.

6. The Balance of Trade refers to both visibles and invisibles.

7. The majority of jobs in international business involve finance and accounting.

8. The familiar American symbol for “OK” means “zero” in Japan and “money” in France.

9. Work is the medicine for prosperity.

10. The essence of entrepreneurship is avoiding risk.

20 points

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

debts	set up	owners	corporation	proprietorship
profit	assets	agreement	shareholder	unlimited liability

Sole (1)_____ is generally the simplest way to (2)_____ a business. A sole proprietor is fully responsible for all (3)_____ and obligations related to his or her business. A creditor with a claim against a sole proprietor would normally have a right against all of his or her (4)_____, whether business or personal. This is known as (5)_____.

A partnership is an (6)_____ in which two or more persons combine their resources in a business with a view to making a (7)_____. Partners share in the profits according to the terms of the agreement.

A corporation is a legal entity that is separate from its (8)_____, the shareholders. No (9)_____ of a corporation is personally liable for the debts, obligations or acts of the corporation. Directors, officers and insiders can bear some liability for their involvement with the (10)_____.

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. Such businesses generally employ fewer than 500 employees in the United States and under 250 employees in the European Union.

2. It is a privately owned convenience store.

3. In the UK the turnover of such companies is usually more than £2.8m but less than £11.2m.

4. Financial analysts say the company will fail to meet sales forecasts of between $21 million and $22 million for the second quarter.

5. The Coca-Cola Company currently offers nearly 400 brands in over 200 countries or territories and serves 1.5 billion servings each day.

10 points

Task 9. Are the following statements true or false?

	True	False
The terms “sole trader” and “sole proprietor” denote the same notion.		
A corporation may have a limited number of owners.		
Anyone who owns and operates a business is an entrepreneur.		
International business by its nature is a primary determinant of international trade.		
Companies willing to expand abroad must learn to tackle physical, legal, political, and cultural barriers.		

5 points

Task 10. Choose the correct alternative from the brackets.

1. The name Canon began in (1934 / 1974) with a prototype for Japan’s first-ever 35 mm camera with a focal plane shutter.

2. (65 / 90) percent of students who take international business class will be working in domestic global workplace.

3. The “personal space” or “body bubble” for North Americans is about (five / seven) feet.

4. The Cadillac automobile was named after the (17^th / 19^th)-century French explorer Antonie Laumet de la Mothe, Sieur de Cadillac.

5. The form Sir is first documented in English in (1297 / 1797), as title of honour of a knight or baronet.

10 points

Task 11. Name 10 most famous inventions (innovations, improvements, distinguished products) in the world of business and the entrepreneurs who made them.

A INVENTION / IMPROVEMENT	B ENTREPRENEUR / INVENTOR
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20 points

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

1. Turnover	______________________________________________
	______________________________________________
	______________________________________________;
2. partnership	______________________________________________
	______________________________________________
	______________________________________________;
3. multinational	______________________________________________
	______________________________________________
	______________________________________________;
4. sole proprietor	______________________________________________
	______________________________________________
	______________________________________________;
5. international business	______________________________________________
	______________________________________________
	______________________________________________.

20 points

ECONOMY, ECONOMICS and TRADE

UNIT 1. ECONOMY & ECONOMICS

Lesson 1

Task 1. a) Use the word stem and flexions below for word formation.

-Y

-IST

-ISM

-IC

-ICS