Agree or disagree with the following statements.
1) Entrepreneur sets up a company.
2) Entrepreneur makes business deals.
3) Entrepreneur risks his neck in order to make a profit.
4) Entrepreneur introduces new types of legal techniques.
5) Entrepreneur leads his company to a slow growth of labour productivity.
6) Entrepreneur must not be doubtful or ignorant.
7) Investment is the money that people or organizations have put into a company, business, or bank in order to get a profit, or to make a business activity successful.
8) Labour productivity is the rate at which goods are produced, compared with the work, time, and money needed to produce them.
9) The GNP is the total value of all the goods and services produced in a country, including income from abroad.
10) Fixed assets may be divided into the following groups: I. Intangible; patents, goodwill, trade marks, etc. II. Tangible; land and buildings, plant and machinery, office equipment, etc. III. Investment; shares and loans to other companies.
Translate the following questions from Russian into English and answer them.
1) Предпринимательство — это форма деятельности в сфере производства товаров и предоставления услуг с целью получения прибыли?
2) Предприниматель — это человек, занимающийся любым видом экономической деятельности, приносящей прибыль?
3) Предприниматель рискует, чтобы получить прибыль?
4) Предприниматель применяет новые технологии производства?
5) Рост компании зависит от деловой активности предпринимателя?
6) Трудно ли быть предпринимателем?
Complete the following statements.
1) Entrepreneur starts…
2) Entrepreneur arranges…
3) Entrepreneur takes risks…
4) Entrepreneur creates…
5) Entrepreneur gets…
6) Entrepreneur collects…
7) Entrepreneur takes on…
8) Entrepreneur writes out…
9) Entrepreneur pays…
10) Entrepreneur buys…
11) Entrepreneurship gives…
Scan through the text. Restore the word order in the questions that follow and answer them.
Company
Company is an organization that makes or sells goods or services in order to get money. Business enterprises usually take one of three forms: individual proprietorships, partnerships, or limited-liability companies. In the first form, a single person holds the entire operation as his personal property, usually managing it on a day-to-day basis. Most businesses are of this type. The second form, the partnership, may have from two to 50 or more members, as in the case of large law and accounting firms, brokerage houses (companies of brokers), and advertising agencies. This form of business is owned by the partners themselves; they may receive varied shares of the profits depending on their investment or contribution. Whenever a member leaves or a new member is added, the firm must be reconstituted as a new partnership. The third form, the limited-liability company, functions on the basis of limited liability.Limited liability is the legal position under which the loss that an owner (shareholder) of a business firm may incur is limited to the amount of capital invested by him in the business and does not extend to his personal assets. Acceptance of this principle by business enterprises and governments was a vital factor in the development of large-scale industry, because it enabled business firms to mobilize large amounts of capital from a wide variety of investors who were understandably unwilling to risk their entire personal fortunes in their investments.
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1) What by the term “company” is meant?
2) What forms business enterprises usually do take?
3) What is by the term “individual proprietorship” meant?
4) What meant by the term “partnership” is?
5) What the is third form of business enterprises?
6) What meant is by the term “limited liability”?
Agree or disagree with the following statements.
1) Company makes or sells goods or services in order to get profit.
2) Proprietor is an owner of a business.
3) Individual proprietor keeps the entire operation as his rented property.
4) Individual proprietor manages his personal property on a from time to time basis.
5) Partnership is a business owned by two or more partners who share the profits and losses.
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6) Partners share the profits and losses according to their investment or contribution.
7) Whenever a partner leaves or a new partner is added, the firm must be reconstituted as a new partnership.
8) Sleeping (silent) partner is someone who owns part of a business but is not actively involved in operating it.
9) Limited liability company is a company whose owners only have to pay a limited amount if the company gets into debt.
10) Limited liability is the legal position of being responsible for paying only a limited amount of debt if something bad happens to yourself or your company.
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