III Answer the fallowing questions:

1. What are the most people’s assets?

2. How can a sole-proprietor get the capital to set up a business? Think of 5 methods.

3. If a limited company has 5000 shares and each share is worth $2.50, what is the capital of the company?

4. What are the advantages and disadvantages of being a sleeping partner?

5. What is the difference between a sleeping partner and a shareholder?

6. If a private limited company goes bankrupt, do the shareholders lose their personal assets? Why?

7. What must you do to sell your shares in a private limited company?

8. What are the advantages of a public limited company? Think of three.

IV Read the words that characterize the certain type of organization and

cross out the odd one.

self-employed people partnerships limited companies

freelancer to share corporation

to work for myself unlimited liability board of directors

chief executive partners limited liability

sole trader to work together donations

independent insurance company shareholders

sole proprietor no outside shareholders stock market

mutuals non-profit organizations

building society social aims

to lend money employers

members fund-raising

to own a company volunteers

demutualization charity

mutual status to donate

8

V Read two short texts and fill in the gaps with appropriate words from the

list above the each text. Consult the glossary if it is necessary.

privatized government-owned nationalized commercial state-owned bureaucratic

In 1970s Britain, there were ______ or ______ companies in many different industries such as car manufacturing and air travel. Some industries had been ______ and were entirely state-owned, such as coal, electricity and telephone services. In the 1980s, the government believed that nationalized companies were ______ and inefficient, and many of them were ______ and sold investors.

enterprise economy free enterprise corporation enterprise zone private enterprise enterprise culture enterprises

Margaret Thatcher often talked about benefits of _______ or _______. She said that her achievement was to establish an _______ in Britain, an economy where people were encouraged to start their own companies and where it was acceptable to get rich through business: an _______.

In some areas, the government reduced the number of laws and regulations to encourage businesses to move there. Businesses were encouraged to set up in the London Docklands, for example. The Docklands were an _______.