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COMPREHENSION QUESTIONS
1. What does the notion of business include?
2. What do we call merchandising?
3. What are the four factors of production?
4. What does land mean as one of the basic factors of production?
5. What is the difference between renewable and non-renewable resources? Give some examples.
6. What are the main functions of most labour?
7. What does capital refer to?
8. What forms does capital exist in?
9. What does the entrepreneurship involve?
10. How does the entrepreneur manage the business?
11. Who takes the biggest risk in business and what are his responsibilities?
12. What is the profit and what is a loss?
Ex.1. Memorize the following definitions.
Distributing – transportation, storage, and delivery of products from the point of production to the place where they can be sold.
Real estate – property in houses and land.
Raw materials – materials in their natural, unmanufactured condition.
Entrepreneur – a person who starts, manages, and takes the risks of running a business.
Creditor – one to whom the business owes money.
Ex.2. Give English equivalents to the following word-combinations and phrases.
Make your own sentences using them.
1. діяльність людини, що пов’язана з матеріальними речами; 2. продаж товарів та надання різних послуг; 3. сировина, яку використано для виробництва; 4. людські ресурси; 5. працездатне населення; 6. розумова та фізична праця; 6. перетворити сировину у готовий продукт;
7. найпоширеніше загальне значення; 8. склади, де зберігаються товари;
9. бути відповідальним за початок комерційної діяльності; 10. керувати підприємством; 11. для того, щоб досягти успіху; 12. визначати загальну політику веденя бізнесу; 13. пропонувати нові способи виробництва та нові послуги; 14. нести відповідальність за всі виробничі борги; 15. спричиняти проблеми; 16. шукати роботу; 18. підприємець бере на себе найбільший ризик; 20. залишкові гроші; 21. недостатньо для виплати всіх витрат;
22. коли компанія стає банкрутом; 23. реалізувати товари покупцям
Ex.3. Find antonyms to the following words and expressions in the text:
mental work; raw materials; profit; to succeed; renewable; fixed capital
Ex.4. Find synonyms to the following words and expressions in the text:
extra money; to seek; buyer; to replace; to purchase; material things; work; capital; equipment; to produce; lucky; working population; entrepreneurship; method; natural resources; circulating capital
Ex.5. Match the words and expressions to their definitions.
| 1. process innovation | a) extra money remaining for the entrepreneur after he pays for the land, labour, and capital |
| 2. merchandising | b) manufacturing of raw materials into finished products |
| 3. renewable resources | c) business organization carrying out commercial activity |
| 4. land | d) better and lower-cost methods of production |
| 5. labour | e) store of goods available for sale, distribution or use |
| 6. firm | f) layer of solid matter in the ground such as metal or a mineral |
| 7. capital | g) putting together land, labour, and capital to make something of value |
| 8. entrepreneurship | h) selling of goods, and providing various services |
| 9. profit | i) use of mental or physical work to produce goods |
| 10. production | j) money or property and equipment used for production |
| 11. deposit | k) living things that reproduce themselves naturally |
| 12. stock | l) piece of real estate where we can build a factory, but it also means all the raw materials used for production |
Ex.6. Match the words to make collocations and make your own sentences with them.
| 1. human | a) estate |
| 2. manufacturing | b) work |
| 3. basic | c) innovation |
| 4. real | d) force |
| 5. raw | e) resources |
| 6. physical | f) money |
| 7. finished | g) businesses |
| 8. product | h) products |
| 9. labour | i) factors |
| 10. extra | j) materials |
Ex.7. Fill in prepositions as in the text and make your own sentences with the following verbs.
1. to be related ___ 4. to refer ___ 7. to come ___
2. to change ___ 5. to distribute ___ 8. to be responsible ___
3. to look ___ 6. to pay ___ 9. to put ___
Ex.8. Complete the following sentences with the given words and expressions.
Translate them into your native tongue.
bankrupt employees real estate policy merchandising
creditors equipment natural resources physical entrepreneurs
1. Farming has always involved hard _____ labour.
2. They are starting to import hi-tech telecommunication _____.
3. After suffering losses for years, the business finally went _____.
4. If the company has a successful year and good profits, they will be able to pay their _____.
5. The tourist industry provides opportunities for many small _____ who operate shops and restaurants.
6. General Motors Corporation has several thousand _____.
7. Department stores and supermarkets are examples of _____ enterprises.
8. He borrowed money from the bank to purchase some _____.
9. It is the _____ of this company that workers receive two weeks paid vacation each year.
10. Land and other _____ include minerals, sand, salt, limestone, oil, waterfalls, forests and fish.
Ex.9. Select the answer which best completes the meaning of the sentence.
Translate the sentences into your native tongue.
1. ___ depends on how much the amount received is greater than the amounts paid.
a) Cost b) Profit c) Loss
2. To get higher profit firms have to increase efficiency of ___.
a) labour b) work c) capital
3. After her grandfather’s death Hannah inherited ___ somewhere in Australia.
a) real estate b) capital c) village
4. Crude oil is the ___ from which gasoline is made.
a) product b) good c) raw material
5. Because of modern machines and technology more and more ___ work is required.
a) physical b) mental c) productive
6. By selling his business, he was able to pay off all his ___.
a) costs b) debts c) money
7. Petroleum is an important raw material for the ___ of plastics.
a) production b) producing c) making
8. Drilling for oil is an activity that involves considerable ___.
a) risk b) payment c) policy
9. The preservation of a system of free ___ is essential to economic freedom.
a) decision b) enterprise c) choice
10. At present we are ___ market research to find out what particular products customers want.
a) making b) taking c) carrying out
Ex.10. a) Form derivatives of the words using the prefix re- and translate them into your native tongue.
produce, store, new, construct, place, collect, move, organize, cycle
b) Underline the words with the prefix re- and translate them into your native tongue.
resource, record, remember, refresh, reduce, return, respect, resell, request, report, recognize, rename
Ex.11. Translate the following sentences into English.
a)
- Торгівля – це продаж товарів та надання різних послуг.
- Для виробництва товарів необхідно використовувати земельні ресурси.
- Праця – це використання інтелектуальної чи фізичної роботи для виробництва товарів.
- Підприємець, щоб досягти успіху, повинен шукати нові продукти, нові способи виробництва чи нові методи реалізації товару.
- Праця перетворює сировину у готову продукцію.
b)
- Сырье получают из земли, воздуха и воды.
- Банкротство компании может стать причиной возникновения проблем у многих людей.
- Независимо от успеха предприятия, предприниматель несет ответственность за все его долги.
- Капитал включает в себя не только деньги, но и станки, инструменты, здания, такие как фабрика или склад.
- Если денег, которые получает предприниматель, недостаточно для покрытия всех его расходов, он может обанкротиться.
Ex.12. Expand the range of services:
accounting, distributing, …
Ex.13. Examine the list of items below and decide whether the capital may include these aspects or not? Share your ideas with the partners.
a) warehouses g) finished products
b) machine-tools h) extra money you’ve got from the deal
c) skillful employees i) production costs
d) raw materials j) land
e) selling of products k) factory building
f) merchandising l) salaries of the employees
Ex.14. Look over the chart below. Write a paragraph about the four basic factors of business. Your first sentence should be a topic sentence. It should state what the four basic factors are. Then you should write two sentences about each of the factors. You should discuss the factors in the same order in which they were presented in this unit. However, do not copy exactly the text.
FACTORS OF PRODUCTION
| LAND | LABOUR | CAPITAL | ||
| and other natural | working population, skills | fixed circulating | ||
| resources | buildings, stocks of raw | |||
| machines materials | ||||
| ||||
 ENTREPRENEURSHIP
| ||||
| PRODUCTION | ||||
| OF GOODS AND SERVICES | ||||
U N L I M I T E D W A N T S
Date: 2014-12-29; view: 1632
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