Private sector activity

Much of the business activity is provided by private firms and companies. They may be tiny businesses run by sole traders, who are in business on their own as bakers, grocers, carpenters, etc. They may be partnerships, with two or three partners co-operating together to run workshops, factories, garages, medical centers, etc. They may be huge companies with hundreds or thousands of employees. The private sector of business activity is sometimes called the enterprise sector. Private enterprise is perhaps the natural way for business activity to start and develop.

It is the combination of land, labour and capital that is the basis of any productive activity and it is the resulting output of goods and services which is the real wealth of the world, which its citizens can enjoy.

Public sector activity

There are certain things, which we cannot be left to private enterprise. Many people believe strongly in nationalization, particularly of industries, which are natural monopolies, like the railways, the electricity industry, gas and water supply. It is true that in recent years some 'privatization' of public enterprises has taken place, but not all public sector activities are suitable for returning to private hands, and we are always likely to have some public sector institutions.

Exercises

1. Find Russian translations of the following words and phrases of the text:

To be on one's own, enterprise sector, to run a business, private sector, to be provided by, water supply, partnership, to co-operate together.

2. Find English equivalents to the following words and phrases of the text:

Частное предприятие, самостоятельный торговец, быть обеспечиваемым, начать дело, продукция, государственный сектор.

3. True or false statements. After reading the text agree or disagree with the following statements:

1. Sole traders usually run huge businesses.

2. Workshops and garages are run by big companies.

3. Private sector of business activity is called the enterprise sector.

4. Armies and police forces must be private.

5. All public sector activities are suitable for returning to private hands.

6. In recent years some "privatization" of public enterprises has taken place.

4. Fill in the gaps in the text with the words given below:

Private enterprise, started up, are suitable, is provided by, partnerships.

1. Much of the business activity ... private firms and companies.

2. These companies may be ... with two or three partners.

3. ... is the natural way for business activity.

4. A business can be ... on a geographical spot.

5. Not all public enterprises ... for privatization.

5. Translate the sentences from Russian into English using the Vocabulary of the text:

1. Частные фирмы и компании обеспечивают производственную деятельность.

2. Они могут состоять из одного торговца, нескольких партнёров или быть огромными компаниями.

3. В больших компаниях сотни и тысячи рабочих.

4. Основой любой производственной деятельности является комбинация земли, труд и капитала.

5. Есть вещи, которые нельзя оставлять частному Предпринимателю: например, армия или полиция.

Short Revision and Self-Control of the Main Statements of the Third and Fourth Units

Close the right-hand side of the page with a sheet of paper and move it downwards answering the questions and checking yourself:

Questions	Answers
1. What are the three types of production?	A) primary production; B) secondary production; C) tertiary production (services)
2. Explain these terms: A) primary production; В) secondary production; С) tertiary production (services)	A) primary production is the production of goods made available by nature; B) secondary production is the production of improved natural goods; C) tertiary production is the production of services - commercial or personal
3. What are private sector activities?	Activities carried on by sole traders, partnerships and limited companies
4. What are public sector activities?	Activities carried out by nationalized industries