7. Переведите текст b с английского языка на русский и ответьте на вопросы.

Partnerships

А partnership is an enterprise owned by two or more individuals. А partnership agreement, огаl ог writtеn, expresses the rights and obligations of each partner. For example, one partner may have the financial resources to start the business, while the other partner may possess the management skills to operate the firm.

There are three types of раrtnerships: general раrtnerships, limited раrtnerships and joint ventures.

Advantages: раrtnerships are easy to start up. Registration details vary, but usually it is necessary to obtain a license and register the company’s name. It is easier for раrtnerships to raise additional funds. Lenders are often more willing to lend money to раrtnerships because all the раrtners are subject to unlimited financial liability.

Disadvantages: the major disadvantage of раrtnerships is that раrtners are liable for all debts of the firm. In раrtnerships the unlimited liability is both joint and personal. This means that the раrtners together are responsible for all the firm's liabilities. If one of the раrtners cannot pay his share of debts, the other partner must pay all debts. Partners are also responsible for actions of other partners.

Вопросы к тексту В. Переведите на русский язык и ответьте на данные вопросы?

1. What is partnership?

2. Does partnership agreement express the rights of each partner?

3. What types of partnerships do you know?

4. What is the main disadvantage of partnerships?

5. Partnerships are difficult to start up, aren’t they?

8. Составьте реферат текста c на русском языке.

Competition

A perfectly competitive market, according to economists, requires the following conditions:

1. Many buyers and sellers; no individual can influence the market.

2. Identical goods or services offered for sale.

3. Buyers and sellers are able to enter or leave the market.

In a competitive market, producers constantly try to reduce their production costs to increase profits. The increased efficiency that allows them to reduce their costs also enables producers to sell their goods at a lower price. Thus, by promoting efficiency, competition leads to lower prices.

Competition also motivates producers to improve the quality and increase the variety of goods and services. Consumers soon find out which brand offers the best value and that firm will earn greater profits than its competitors. So, producers in a competitive market must look for new and attractive goods and services to win a larger share of the market.

As firms compete for the consumer’s dollar in a market, their efforts lead to the production of a wide variety of better – quality products at the lowest possible prices. And since we are all consumers, it follows that competition benefits us all.

The American free enterprise system is based on the principle that competition is in the interest of everyone. When competitors agree to fix prices or divide the market, the public loses the benefits of competition. The prices that result are high. This is unfair to consumers who must pay more for the things they buy. It is also damaging to an economy that looks to the price system to know what goods and services are in demand.