1. Translate into English:

Основні потреби, Задовольняти потреби, товари та послуги, залежати від когось, комерційна діяльність, фірма, отримувати прибуток, міжнародні корпорації, створювати бізнес,займатися торгівлею, успішна компанія, ліквідувати підприємство, рішення прийняті власниками компанії, розширювати бізнес.

2. What do you know about:

business organization;

large companies;

big business ;

small companies;

doing business.

TEXT: BUSINESS ORGANIZATION AND THE ECONOMY

assemble (v) збирати

wholesale trade оптова торгівля

retail trade роздрібна торгівля

enterprise підприємство

pursue (v) переслідувати (інтерес)

restriction обмеження

utilities комунальні послуги

Businesses may be classified according to which industry they are in: for example, construction, oil, banking, food.

All the companies which make goods from raw materials or assemble components into finished products work in the manufacturing sector.

All the companies which provide services in areas such as tourism, banking and finance, communications, wholesale and retail trade work in the service sector.

Besides, a company may be owned by the state, or by private individuals. Privately - owned and - run companies work in the private sector.

A private enterprise is a system that allows individuals within a society to pursue their own interest without governmental regulation or restriction. State - owned and - run organizations are in the public sector.

When a private company is bought by the state and brought into public sector, it is nationalized in a process of nationalization. A nationalized company is state-owned.

When the state returns a company to the private sector in a sell-off, it is privatized. This is privatization. The first to be sold off in a privatization program are often the companies responsible for the public supply of electricity, water and gas: the utilities.

1. Answer the questions:

How may business be classified?

What companies work in the manufacturing sector?

What companies work in the service sector?

How may the company be owned?

What is a nationalized company?

What do you know about privatization?

2. Translate into English:

Будівництво, сировина, продукти харчування, готова продукція, виробничий сектор, надавати послуги, сектор послуг, приватна особа, переслідувати особисті інтереси, державний сектор, урядове регулювання, процес націоналізації, відповідати за постачання.

TEXT: OWNERSHIP

unlimited liability company компанія з необмеженою

відповідальністю

limited liability company компанія з обмеженою відповідальністю

be liable for бути відповідальним за

assets майно, активи

sole trader/sole proprietorship одноосібна власність

partnership/general partnership товариство

private limited company (BrE) закрита акціонерна компанія

/limited liability company (AmE)

public limited company (BrE)/ відкрита акціонерна компанія

listed company (AmE) з обмеженою відповідальністю

shareholder акціонер

stock exchange фондова біржа

A business is an organization of material, human, financial, and information resources that are joined together for a specific purpose. Not all businesses are owned and organized in the same way.

In unlimited liability companies the owners are personally and entirely liable for the debts of the company. This means they may lose their personal assets (e.g., their house or their car) if the company is in financial difficulties.

In a limited liability company (Ltd.) the owners are liable only for the amount of money they have invested in the business.

Unlimited liability companies are subdivided into sole traders (BrE)/sole proprietorship (AmE)(a type of business organization owned and run by one person) and partnership (BrE)/general partnership (AmE) (a firm run by two or more partners).

Limited liability companies are subdivided into private limited companies (BrE)/limited liability companies (AmE) and public limited companies (BrE)/listed companies (AmE). A private limited company / limited liability company is a company which has shareholders (people who own the wealth of a company) but which cannot offer its shares to the public.

A public-limited company/listed company is a company whose shares can be bought and sold on the stock exchange.

Notes: A public limited company is privately owned. It is not run by the state.