Reproduce the context in which the following word-combinations are used.

- common types

- one-person business

- an association of people

- to take decisions

- to be responsible for

- to be liable for

- to carry on business

- to own and operate

- benefit

- profit

Vocabulary Focus

1. Complete the gaps choosing the right alternative.

1. In a partnership, the business is … by two or more people.

a) varied b) assumed c) owned

2. Every job has its ….

a) disadvantages b) enterprise c) tax

3. Demand for certain products … with the season.

a) contributes b) flows in c) varies

4. Mr Lee … many charities.

a) assumes risks of b) contributes to c) flows in

5. He packed all his … into one bag.

a) possessions b) ownership c) liabilities

6. I didn’t get much … from this transaction.

a) responsibility b) benefit c) disadvantage

7. The baker has … business here for years.

a) varied b) carried on c) flown in

2. Look through the text once again and find the English equivalents.

предоставлять товары и услуги

несколько стандартных типов

быть ответственным за успех или неудачу

исключительное право на прибыль

нести персональную ответственность за долги

быть образованным с целью;

с целью ведения бизнеса

передача фондов

агентские (посреднические) отношения

коммерческий или некоммерческий

контролировать потоки денег

3. Change the words on the right to complete the sentences below.

Talking points

1. The choice of the form of business or business organization depends on various factors. Share your ideas about them.

2. Partnerships consist of two or more partners who are both responsible for the business. They share assets, profits, liabilities, and management responsibilities for running the business. Before making a decision concerning whether to have a partner or not, it is better to prepare a "for" and "against" list. What are the most common reasons for joining with another person to start the business? Discuss all the advantages and disadvantages with your partner and make a "for" and "against" list.

3. In your opinion, do men or women make more successful business people? Why?

Summary Points

1. Summarize the main idea of the text below.

There are numerous reasons that make people think about owning a business of their own. Personal independence, unlimited profit potential, the opportunity to work at something they really love are some of the reasons people have given for trying entrepreneurship. Many business leaders begin their careers as entrepreneurs after four years of undergraduate college training and even additional graduate school training. Others become successful entrepreneurs without special training.

Many colleges now offer programs that teach students how to start and operate a business. Basic information is combined with hands-on experience and the advice of successful business consultants. These programs help potential entrepreneurs decide whether their own ideas are good and how to follow through with them.

A common way to learn about business, and the opportunities for starting one similar to it, is to learn while working for someone else. It provides a source of steady income to people while they are planning to start their own businesses. About 50 percent of entrepreneurs start their businesses in industries in which they have some experience.

2. Divide the text into logical parts and use appropriate vocabulary to make its summary.

Unit 11

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