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Латыгина Базовый курс економики на англ.doc
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Speech and Discussion

Ex.1. Talk to your groupmate:

 Which is the most interesting to work in:

a manufacturing sector, a service sector.

 Choose one of the sectors and speak about the advantages and the disadvantages of working there.

Ex.2. If you were to choose where to work, would you prefer a public sector or a private sector? Why?

Ex.3. Discuss with your groupmates the advantages and disadvantages of:

 privatization

 nationalization

Ex.4. Familiarize yourself with the following idioms. Consult your dictionary and translate the sentences into Ukrainian. Think of situations where you could use them.

  1. We would manage much better without the help of backseat drivers like Williams.

  2. This business could be a gold mine if it were properly developed.

  3. If you think Walsh will ever repay you, you are mistaken; I’m afraid you’ve put your money on the wrong horse.

  4. We are in deep water; we may have to sell the shop to pay our debts.

  5. Peter has blued all the money you gave him on gambling and drink.

Ex.5. Comment on the proverb:

“In giving a man receives more than he gives.”

LESSON 3

Text: Ownership

Grammar: Present Perfect Simple

Terms to remember:

join (v)

об’єднуватися, приєднуватися

purpose

мета

unlimited liability company

компанія з необмеженою відповідальністю

limited liability company

компанія з обмеженою відповідальністю

be liable for

бути відповідальним за

debt

борг; зобов’язання

assets

майно, активи

sole trader/sole proprietorship

одноосібна власність

partnership/general partnership

товариство

private limited company (BrE) /limited liability company (AmE)

закрита акціонерна компанія

public limited company (BrE)/listed company (AmE)

відкрита акціонерна компанія з обмеженою відповідальністю

shareholder

акціонер

share

акція

wealth

матеріальні цінності, багатство

offer (v)

пропонувати

public

громадськість

stock exchange

фондова біржа

Ownership

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 partnerships (BrE)/general partnerships(AmE) (a firm run by two or more partners). A lot of professional people like lawyers, accountants and so on, work in partnerships.

Limited liability companies are subdivided into private limited companies (Ltd) (BrE)/limited liability companies (AmE) and public limited companies (PLC) (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 (publicly traded) on the stock exchange.

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