- •Text 1. History of economic thought
- •1Complete each sentence with a word or phrase from the box.
- •2 Now read the text again and decide whether these statements are true or false.
- •Exercises
- •1 Choose the correct answer a, b or c from the list below.
- •3. Discuss these questions with your partner.
- •Exercises
- •1.Complete each sentence with a word or phrase from the box.
- •Exercises
- •1.Match the words and phrases with the definitions.
- •2.Now read the text again and answer these questions in your own words in the space provided below.
- •3.Now listen and tick which transactions in the list are mentioned.
- •Exercises
- •1. Choose the correct answer a, b or c from the list opposite.
- •2. Now read the text again and choose the sentence which best summarises each paragraph.
- •3.Discuss this question with your partner.
- •Exercices
- •1.Match the words and phrases with the definitions.
- •2. Now read the text again and decide whether these statements are true or false. If the statement is false, correct it.
- •3.Discuss this question with your partner.
- •4. Try to complete this paragraph about autarchies by using words from the box.
- •Exercises
- •1.Match the words with the definitions.
- •2.Now read the text again and match each paragraph with the correct heading.
- •Exercises
- •Match the words and phrases with the definitions.
- •3. Discuss these questions with your partner.
- •Exercises
- •1. Answer the questions.
- •2. Choose the necessary word and put in the sentence.
- •Exercises
- •1.Choose the correct answer a, b or c from the list opposite.
- •2. Now complete each sentence with words. Then listen and check your answers.
- •4. Discuss the following with your partner.
- •Exercises
- •1.Now read the text again and answer these questions in your own words in the space provided below.
- •2 Choose the correct answer.
- •In the real economy:
- •Exercises
- •I. Match the words with the definitions.
- •II.Now read the text again and complete the sentences below in your own words in the space provided.
- •III. Discuss these questions with your partner.
- •Dialogue
- •Exercises
- •1.Choose the necessary word and put it in the sentence.
- •Answer the questions.
- •Make transformations according to the model.
- •Exercises
- •Answer the questions.
- •2. Choose the necessary word and put it in the sentence.
- •Exercises
- •1. Change the sentences according to the model.
- •Make up the conditional sentences.
- •3. Answer the questions.
- •Exercises
- •Dialogue
- •Exercises
- •Exercises
- •1.Complete each sentence with a word or phrase from the box.
- •3 Now listen and complete the summary with words or numbers.
- •5. Give a two-minute talk on price. First make notes below on the following.
- •6. Imagine that you’ve got a good idea for an Internet commerce site (an Internet site which is also a business).Tell your friend what your idea is.
- •Dialogue
- •Change the sentences according to the model.
- •2. Change the sentences according to the model.
- •3. Answer the questions.
- •4. Make sentences interrogative and negative.
- •5. Choose the necessary modal verb and put it in the sentence.
- •1. Complete each sentence with a word.
- •Exercises
- •Dialogue
- •Exercises
- •Change the sentences according to the model.
- •3. Answer the questions.
- •Exercises
- •Dialogue
- •Exercises
- •I. Transform the sentences according to the model.
- •III. Answer the questions.
- •I. Answer the questions.
- •II. Select the necessary word in the sentence.
- •Dialogue
- •Exercises.
- •Exercises
- •I. Answer the questions.
- •Dialogue
- •Exercises
- •III. Answer the questions.
- •Exercises
- •1. Answers the questions.
- •2. Choose the necessary word and put.
- •3. Put the verbs in brackets into the proper present tense
- •Dialogue
- •Exercises
- •Transform the sentences according to the model.
- •Exercises
- •Exercises
- •II. Read the text again and choose the best answer or answers for each question.
- •Informal letter
- •Iy Work in groups of three or four. Imagine you and your friends are running the country.Things are not going well! Here are some of your problems.
- •Dialogue
- •Exercises
- •Give affirmative and negative answers to the questions.
III. Answer the questions.
1. Are you thinking of starting your own business?
2. What business do you want to start?
3. How do we call the business if you go into it alone?
4. Who is going to make the decisions and control the profits in your business?
5. Do you need a lawyer if you want to start a sole proprietorship?
6. Why don't you have to consult the partners in a sole proprietorship?
7. How many employees are you going to hire for your business? In what cases will you fire them?
8. What does it mean to have unlimited liability? Are you ready for it?
9. What will you do, if your business fails?
10.What will you do to put policies into effect quickly?
11 .What businesses have tax benefits in this country?
12.Can you do your books yourself?
13. Are you going to hire a book-keeper?
IY. Make the sentences negative.
1.I want to start my own business.
2. You need a lawyer in this case.
3. Sole proprietorship brings much profit.
4. Sole proprietorship gets tax benefits from the government.
Y. Put up four questions of different types (general, special, disjunctive, alternative) to each sentence.
Model: The partners arc responsible for business debts.
a) Are the partners responsible for business debts?
b) Why are the partners responsible for business debts?
c) The partners are responsible for the business debts, aren't they?
d) Are the partners responsible for the business debts or fulfilment of the arrangement?
1) 1 want to go into business with my friend.
2) You can lose personal assets.
3) He is difficult to get tax benefits from the state.
4) I do my books myself.
5) We both have unlimited liability.
6) The board of directors decided on vacation, salary, hiring d firing.
7) The partners want to consult a board of directors.
YI. Make up the dialogue.
You are going to start your own business. Ask a lawyer or an
experienced person how to do it.
Unit 8
Text. PARTNERSHIPS
A partnership is an association of two or more persons to carry on a business for profit. When the owners of the partnership have unlimited liability they are called general partners. If partners have limited liability they are "limited partners". There may be a silent partner as well - a person who is known to the public as a member of the firm but without authority in management. The reverse of the silent partner is the secret partner - a person who takes part in management but who is not known to the public.
Any business may have the form of the partnership, for example, in such professional fields as medicine, law, accounting, insurance and stockbrokerage. Limited partnerships are a common form of ownership in real estate, oil prospecting, quarrying industries, etc.
Partnerships have more advantages than sole proprietorships if one needs a big capital or diversified management. Like sole proprietorship they are easy to form and often get tax benefits from the government.
Partnerships have certain disadvantages too. One is unlimited liability. It means that each partner is responsible for all debts and is legally responsible for the whole business. Another disadvantage is that partners may disagree with each other.
Exercises