- •Unit 1 free enterprise system
- •Active Vocabulary
- •1 Translate the following combinations into Russian.
- •2 Translate into English using the expressions from the previous task.
- •3 Study the new words and make your own sentences with them.
- •4Translate into English using the expressions from the previous tasks.
- •5 How would you serve your customer?
- •Social and business skills Breaking the ice
- •3 Write the letters of the phrases in the appropriate place.
- •Introductory questions Being more specific Asking for an opinion
- •4 Match the conversational exchanges.
- •Reading
- •I The Pillars of Free Enterprise
- •1 What are the “pillars” of American economic system?
- •2 What does the right to private property give the owners of natural resources and capital? Why?
- •Free Enterprise: the Theory and the Reality
- •1What is the essence of the term “laissez faire”?
- •2 What are the three levels of American government?
- •3 In what cases does the government show its power?
- •1 What is the role of prices in American economic system?
- •2 Why is American economic system called price-directed system?
- •3 What are the fundamental questions that price system provides the answers to?
- •1 What does competition refer to?
- •Active vocabulary
- •1 Translate the following combinations into Russian.
- •2 Translate into English using the expressions from the previous task.
- •3 Study the new words and make your own sentences with them.
- •4 Fill in each blank with a suitable word.
- •5 Translate into English using the expressions from the previous tasks.
- •6 Answer the questions.
- •Social and business skills Arrangements
- •1 Read the extract and answer these questions.
- •3 You will hear an imaginary alternative version of the conversation in the book. Listen and compare your choices.
- •5 Match the sentences with the headings.
- •6 Food and drink. Match the two parts of the conversational exchange.
- •Reading
- •I Forms of business organization
- •Unit 3 how to start your own business
- •Active Vocabulary
- •1 Translate the following combinations into Russian.
- •2 Translate into English using the expressions from the previous task.
- •3 Study the new words and make your own sentences with them.
- •4 Translate into English using the expressions from the previous tasks.
- •5 Answer the questions.
- •Social and business skills Making a proposal
- •1 Make a summary of the script.
- •2 Look at the script again and notice how the meeting is structured. In which order do these stages occur?
- •3 Here us some of the language you can use for each of those four stages.
- •Refusing and accepting
- •2 Underline the phrases that he uses to refuse the offer.
- •II Becoming an entrepreneur
- •III Risks and benefits of starting a new business
- •Unit 4 financial institutions
- •Active Vocabulary
- •1 Translate the following combinations into Russian.
- •2 Translate into English using the expressions from the previous task.
- •3 Study the new words and make your own sentences with them.
- •4 Translate into English using the expressions from the previous tasks.
- •5 Match the notion and its definition.
- •6 Define the meaning of the words highlighted in the text.
- •1 Discuss these points.
- •2 Look at the three solutions offered by Patrick Ellis and underline the eight conditional sentences that are used. Which of these sentences describe hypothetical situations?
- •3 Listen and fill in the blank spaces with the correct forms of the verbs.
- •Reading
- •I Functions of a Central Bank
- •II Other Bank Services
- •III Consumer credit
1 What does competition refer to?
2 How does the rivalry benefit us all?
3 Why do buyers compete with one another?
4 How do economic incentives influence our decisions?
5 What is economic self-interest?
UNIT 2
TYPES OF BUSINESS ORGANISATION
Before starting your own business you have to choose the type of proprietorship in which you will own it. You should know that any business should be privately owned in three main forms. These forms are: the sole proprietorship, the partnership and the corporation.
The sole proprietorship. The sole proprietorship is the simplest organizational form. There is one owner who takes all profit after paying income taxes, and who is responsible for all business debts. He or she can make decisions without consulting anyone.
The strength of this form is in the direct personal interest of the proprietor in the efficiency of his business.
The great disadvantage of the sole proprietorship is that the proprietor is personally responsible for the debts of his firm and his liability is unlimited. One-person business is widely used in farming, retailing, building, repair work and personal services such as hair dressing, beauty shops and the like.
The partnership. Partnerships are voluntary combinations of from two to twenty persons formed for the purpose of carrying on business with a view of profit. Partners share responsibilities for decision making, profit and debts. They usually get tax benefits from the government. There are two types of partnerships: with limited and unlimited liability. It depends on the fact if partners are responsible for all business and for all debts or not.
The disadvantage of partnership is that partners may disagree with each other. Where trading risks are great partnership is not a very stable type of organization.
Partnership is a common form of business organization in such professions as law, accountancy, medicine, insurance, stockbrokerage and real estate.
The corporation. A business corporation is an institution formed by two or more shareholders, who put money into business and get a share of profit. Their share of ownership is represented by stock certificates. This form of ownership allows attracting financial resources, investing a large amount of capital into production, equipment and research, offering high salaries and attracting talented managers and specialists. Except privately owned corporations there are some other types two, such as educational, religious, charitable and governmental ones. Usually they don’t issue stock certificates and are non-profit.
Active vocabulary
proprietorship – собственность
to own – владеть
sole proprietorship – частная собственность
partnership – партнерство
corporation – корпорация
income tax – налог с доходов
debt – долг
to carry on – вести
limited liability – ограниченная ответственность
unlimited liability – неограниченная ответственность
to depend on – зависеть от
law – юриспруденция
insurance – страхование
stockbrokerage – биржевое маклерство
real estate – недвижимость
retailing – розничная торговля
tax benefits – льготное налогообложение
stockholder (shareholder) – акционер
stock certificate – акция
charitable – благотворительный
to issue stocks – выпускать акции
to share – делить
non-profit – неприбыльный
Tasks