British Economy

The United Kingdom is one of the world’s largest exporters of manufactured goods per head of population. For every person employed in agriculture eleven people are employed in mining, manufacturing and building.

Apart from coal and iron ore Britain has very few natural resources. Its agriculture provides only half the food it needs. Most of if the raw materials such as oil and various metals (copper zinc, uranium ore and others) have to be imported. Britain also has to import timber, cotton, fruit and farm products.

Britain used to be richly forested, but most of the forests were cut down to make more room for cultivation. The greater part of land is used for cattle and sheep breeding, and pig raising. Among the crops grown on the farms are wheat, barley and oats. The fields are mainly in the eastern part of the country. Most of the farms are small. Farms tend to be bigger where the soil is less fertile.

Britain produces high quality expensive goods, which has always been characteristic of its industry. A shortage of raw materials, as well as the high cost of production makes it unprofitable for British industry to produce semi-finished goods or cheap articles. Britain mostly produces articles, requiring skilled labour, precision instruments, chemicals. Britain high quality consumer goods and articles made of various kinds of synthetic (man-made) materials.

The original basis of British industry was coal mining, and the early factories grew up not far from the main mining areas.

Glasgow and Newcastle became great centres of engineering and shipbuilding . Lancashire produced cotton goods and Yorkshire woollens, with Sheffield concentrating on iron and steel. Birmingham developed light engineering. There appeared a tendency for industry and population to move to the south, particularly to the London area. Britain’s industry is now widely dispersed. Great progress was made in the development of new industries, such as the aircraft, automobile, electronic industries and others. A number of atomic power reactors were made.

Great emphasis was made on the development of the war industry .

Comments

1. manufactured goods – промислові товари

2. per head of population – на душу населення

3. apart of smth. – крім чогось

4. used to be smth. – був кимось колись

5. used to do smth. – робив щось колись

6. to make room for smth. – звільняти простір (місце) для чогось

7. to breed smth. – розводити, вирощувати (тварин)

8. to tend to do smth. – мати тенденцію робити щось

9. article – виріб, товар, предмет виробництва

10. to require smth. (doing smth.) – вимагати, потребувати чогось (робити щось)

11. precision instruments – точні інструменти

12. to be widely dispersed – широко розповсюджуватись

13. to make emphasis on smth. – надавати чомусь особливого значення , приділяти комусь особливу увагу

Ex 1. Find the English in the right-hand column for the following.

1. недостатня кількість сировини 1. raw materials

2. дорогі товари високої якості 2. various metals

3. свинарство 3. to be richly forested

4. вівчарство (розведення овець) 4. to import timber

5. ввозити деревину 5. to make room for smth.

6. бути багатим на ліси 6. sheep breeding

7. різноманітні метали 7. pig raising

8. сировина 8. high quality expensive goods 8. synthetic materials

9. звільняти місце 9. shortage of raw materials

10. військова промисловість 10. semi-finished goods

11. синтетичні матеріали 11. precision instruments

12. точні інструменти 12. electronic equipment

13. атомний реактор 13. man-made materials

14. електронне обладнання 14. the original basis

15. напівфабрикати 15. atomic power reactor

16. початкова основа 16. war industry

Ex 2. Complete the following sentences.

1. Great Britain is rich in ... . 2. Britain has very few ... . 3. Britain also has to import ... . 4. Most of the forests were cut down to ... . 5. Among the crops grown on the farms are ... . 6. Britain produces high quality ... . 7. Britain mostly produces article requiring ... . 8. Britain produces and exports ... . 9. The original basis of British industry was ... . 10. Great emphasis was made on the development of the ... .

Ex 3. Say if it is right.

1. The United Kingdom is the largest exporter of manufactured good. 2. Britain is rich in very few natural resources. 3. Britain has to import coal and iron ore. 4. The greater part of land is used for sheep breeding, pig raising and flower growing. 5. Britain produces high quality cheap goods. 6. Britain mostly produces articles requiring skilled labour, precision instruments and electronic equipment. 7. Britain exports cotton and woollen goods but not leather goods. 8. Coal mining was the original basis of British industry. 9. Aircraft, automobile and electronic industries are new Britain’s industries. 10. Glasgow is famous for engineering and shipbuilding.

Ex 4. Fill in the blanks with prepositions

1. Britain produces goods and articles made ... various kinds of synthetic materials. 2. For every person employed ... agriculture, eleven people are employed ... mining, manufacturing and building. 3. Most ... the raw materials have to be imported. 4. The fields are mainly ... eastern part ... the country. 5. A shortage ... raw materials makes it unprofitable ... British industry to produce semi-finished goods or cheap articles. 6. Sheffield is concentrating ... iron and steel. 7. A present industry has a tendency to move ... the south, particularly ... the London area.

Ex. 5. Answer the following questions.

1. What natural resources does Great Britain have?

2. What raw materials does Britain import?

3. Why does Britain have to import raw materials?

4. What does Britain export?

5. What is the characteristic feature of British industry?

6. Why is it unprofitable for Britain to produce semi-finished goods or cheap articles?

7. What are the main articles produced by British industry?

8. What are Britain’s traditional industries?

9. What are Britain’s main industries today?

10. What are the main industrial centres of Great Britain?

11. What are the main branches of British agriculture?

12. What is the greater part of land used for?

13. What crops are grown on the farms of Britain?

14. Why does Great Britain have to import farm products?

Ex. 6. Speak on the text ”British Economy”.

Grammar Revew: Sequence of tenses

The sequence of tenses is adjustment of the tense of the subordinate clause to the tense of the principal clause.

The rules of the sequence of tenses

Principal clause /PC/		Action	Subordinate clause /SC/
present			Any tense
present perfect
future
past	1.	At the same time	past
	2.	SC precedes PC	Past perfect
	3.	future	Future- in- the- past
	4.	Future completed	Future perfect in-the-past

Now
He said that he was watching TV. She said they were doing a test. I didn't know you painted. He had the feeling that everyone was looking at him.	Він сказав, що дивиться телевізор. Він сказав, що вони пишуть тест. Я не знав, що ви малюєте. У нього було відчуття, що хтось на нього дивиться.
Already
I knew that he had been working since 7. I asked her if they had gone. I knew that he had been studying for 2 years.	Я знав, що він працює з 7 години. Я спитав її, чи вони пішли. Я знав, що він провчився вже 2 роки.
Future-in-the-past
He knew that I should wait for him. I knew he would wait for me. She said she would post the letter herself.	Він знав, що я буду чекати на нього. Я знав, що він буде чекати на мене. Вона сказала, що відправить лист сама.

Ex. 1. Translate into English.

Він знав, що я провчився вже три роки.Ми знали, що ми будемо читати цей текст.Я знав, що він буде співати на концерті.Він сказав, що салі сходить на пошту.Я сказав, що мені буде приємно бачити їх. Я знаю, що вона добре танцює. Він знає, що ми зараз робимо уроки. Я знаю, що він бачив нас там. Він знає, що я працюю тут з ранку.Ми знаємо, що ти добре плавав в дитинстві.Я знаю, що вона телефонувала. Він знає, що ми зробили це до кінця тижня. Я знаю, що він був зайнятий цим вже тиждень.

Topic 5: MONEY

History of money

Money is anything that is commonly accepted by a group of people for the exchange of goods, services, or resources. Every country has its own system of coins and paper money.

In the beginning, people bartered. Barter is the exchange of a good or service for another good or service, a bag of rice for a bag of beans. However, what if you couldn't agree what something was worth in exchange or you didn't want what the other person had. To solve that problem humans developed what is called commodity money.

A commodity is a basic item used by almost everyone. In the past, salt, tea, tobacco, cattle and seeds were commodities and therefore were once used as money. However, using commodities as money had other problems. Carrying bags of salt and other commodities was hard, and commodities were difficult to store or were perishable.

Coins and Paper Money

Metals objects were introduced as money around 5000 B.C. By 700 BC, the Lydians became the first in the Western world to make coins. Countries were soon minting their own series of coins with specific values. Metal was used because it was readily available, easy to work with and could be recycled. Since coins were given a certain value, it became easier to compare the cost of items people wanted.

Some of the earliest known paper money dates back to China, where the issue of paper money became common from about AD 960 onwards.

Representative Money

With the introduction of paper currency and non-precious coinage, commodity money evolved into representative money. This meant that what money itself was made of no longer had to be very valuable. For most of the nineteenth and twentieth centuries, the majority of currencies were based on representative money through the use of the gold standard.

Representative money has now been replaced by fiat money. Fiat is the Latin word for "let it be done". Money is now given value by a government fiat or decree, in other words enforceable legal tender laws were made. By law the refusal of "legal tender" money in favor of some other form of payment is illegal.

$$$

The origin of the "$" money sign is not certain. Many historians trace the $ money sign to either the Mexican or Spanish "P's" for pesos, or piastres, or pieces of eight. The study of old manuscripts shows that the "S," gradually came to be written over the "P," looking very much like the "$" mark.

Ex. 1. Answer the questions of the quiz to learn what you already know about money and its history!

1. What is the definition of money?

a. Legal tender

b. Means of exchange

c. Status of wealth

d. All of the above

2. What is official currency?

a. Usually depicts an historic figure of a country

b. Specific to a particular country (eg Peso, Lira, Ducat, etc)

c. Paper money and coins

d. A combination of a,b,c

3. Money is also known as...

a. Moolah

b. Bread

c. Dough

d. All of the above

4. What happened before money systems were developed?

a. Barter

b. Stole stuff

c. Nothing

d. Money systems were being developed

5. In the 1200's what did China use for money?

a. Rice

b. Shells

c. Fortune Cookies

d. Stones

6. What did China use for money other than shells?

a. Metal Tools

b. Coins

c. Knives

d. All of the above

7. During the 9th century what was used as money?

a. Noses

b. Finger Nails

c. Leather

d. Stones

8. What did Native Americans use for money?

a. Wampum

b. Potlach

c. Corn

d. Peace pipes

9. When was paper currency used?

a. 9-15th centuries

b. 1st-10th centuries

c. 3rd-9th centuries

d. 18th-21st centuries

10. What is electronic money?

a. Digital Cash

b. Credit cards

c. Check cards

d. None of the above

Ex. 2. Read and translate some practical travel information on Money and costs in England

Money

The currency of England (and Britain) is the pound sterling. Paper money comes in £5, £10, £20 and £50 denominations, although £50s can be difficult to change because fakes circulate. Other currencies are very rarely accepted if you’re buying goods and services, except for some places in the ferry ports of southern England, which take Euros, and the smarter souvenir and gift shops in London, which may take euros, US dollars, yen and other major currencies.

ATMs

Debit or credit cards are perfect companions – the best invention for travellers since the backpack. You can use them in most shops, and withdraw cash from ATMs (often called ‘cash machines’) which are easy to find in cities and even small towns. But ATMs aren’t fail-safe, and it’s a major headache if your only card gets swallowed, so take a backup. And watch out for ATMs which might have been tampered with; a common ruse is to attach a card-reader to the slot; your card is scanned and the number used for fraud.

Moneychangers

Finding a place to change your money (cash or travellers cheques) into pounds is never a problem in cities, where banks and bureaus compete for business. Be careful using bureaus, however; some offer poor rates or levy outrageous commissions. You can also change money at some post offices – very handy in country areas, and exchange rates are fair (and usually commission free).

Travellers cheques

Travellers cheques offer protection from theft, so are safer than wads of cash, but are rarely used in England, as credit/debit cards and ATMs have become the method of choice. If you prefer travellers cheques, note that they are rarely accepted for purchases (except at large hotels), so for cash you’ll still need to go to a bank or bureau.

Credit cards

Visa, MasterCard and AmEx credit cards are widely accepted in England, and are good for larger hotels, flights, long-distance travel, car hire etc. Smaller businesses, such as pubs or B&Bs, often only take cash or cheque.

Since early 2006, nearly all credit and debit cards use the ‘chip & pin’ system; instead of signing, you enter a PIN (personal identification number). If you’re from overseas, and your card isn’t ‘chip & pin’ enabled, you can sign in the usual way.

Ex. 3. a)Read and translate the interview with the multimillionaire Bill Gates.

b) Make up your own dialogue with a famous rich person.

William Henry Bill Gates III (born October 28, 1955) is an American business magnate, philanthropist, author and chairman of Microsoft, the software company he founded with Paul Allen. He is consistently ranked among the world's wealthiest people and was the wealthiest overall from 1995 to 2009, excluding 2008, when he was ranked third. Gates is one of the best-known entrepreneurs of the personal computer revolution.

Grammar Revew: Passive Voice.

Voice is the form of the verb which shows the relation between the action and its subject. There are two voices in English: the active and the passive. The active voice shows that the subject is the doer of the action. The passive voice shows that the subject is not the doer of the action. The passive voice is analytical form in Modern English. It is built up by means of the verb to be and the past participle of the given verb. The verb to get is sometimes used instead of to be.

My jacket got caught on a nail. He got struck by a stone.

Miu піджак зачепився за цвях. Його ударили каменем.

In the passive voice the continuous aspect has only two tenses, present and past. Instead of the future and the perfect tenses, the corresponding tenses of the common aspect are used.

The children were put to bed.

She has been putting children to bed for an hour.

Дітей уклали спати.

Вона укладала діmeu спати цілу годину.

The passive voice is used in the following instances:

The active subject is unknown	I am told he has left London.	Mені сказали, що він покинув Лондон.
A greater interest in the object	He was called first.	Його викликали першим.
The subject is not mentioned for tact	You've been told not to touch it!	To6i ж було сказано - не чипати!

In English not only transitive verbs have the forms of the passive voice but also intransitive verbs with a prepositional object. In the passive they form a phraseological unit:

They are spoken about.

A doctor was sent for.

I think it will be approved of.

It can't be depended on.

It can't be insisted on.

This is the music to be listened to.

The book was looked for.

It need be put an end to.

Children are taken care of.

It must be paid attention to.

Про них говорять.

За лікарем послали.

Я думаю, що це буде схвалено.

На це не можна покладатися.

На цьому не можна наполягати.

Ось таку музику треба слухати.

Цю книгу шукали.

3 цим треба покінчити.

Про дimeu піклуються.

Цьому треба приділити увагу.

transitive	intransitive
enter	Входити до, вступати до
follow	іти слідом за
help	Допомагати
join	Приєднуватися до
watch	Стежити за
believe	Вірити в

These verbs in the passive voice are translated in the active voice:

Autumn is followed by winter.

It is believed to be true.

За осінню настае зима.

Вірять, що це правда.

	Present	Past	Future	Future in-the Past
Simple	It is done. It is not done. Is it done?	It was done. It was not done. Was it done?	It will be done. It will be not done. Will it be done?	It would be done. It wouldn't be done. Would it be done?
Perfect	It has been done. It hasn't been done. Has it been done?	It had been done. It hadn't been done. Had it been done?	It will have been done. It will not have been done. Will it have been done?	It would have been done. It would not have beendone. Would it have been done?
Continuous	It is being done now. It is not being done. Is it being done?	It was being done then. It was not being done. Was it being done?

Ex. 1. Translate into English.

Нам сказали, що він поїхав з Києва. Мене викликали другим. Тобі ж було сакзано робити уроки! Хто любить, коли над ним сміються? Про нас говорять. За лікарем послали. Ми думаємо, що це буде схвалене. На цьому не можна наполягати, чи не так? Таку музику треба слухати. З цим треба покінчити, чи не так? Про літніх людей піклуються. Вірять, що він правий. На лист відповіла сестра. Нам дали перший приз. Книгу йому показав учитель історії. Це зроблено в Україні. Тест вже зроблений і ми можемо йти. Суп якраз вариться. Будинок якраз будувався, коли ми приїхали. Будинок вже буде побудований, коли він приїде. Книга була б прочитана завтра.

Topic 6: THE BANKING SYSTEM OF UKRAINE

The Banking System of Ukraine

The banking system of Ukraine consists of the National Bank of Ukraine and other banks, as well as the branches of foreign banks, which have been established and operate on the territory of Ukraine in compliance with the present Law provisions. The banks in Ukraine may operate as universal or specialized banks. In terms of their specialization, banks may be classified as savings, investment, mortgage and settlement (clearing) banks.

Each bank may independently determine areas of its activity and specialization by types of operations. The National Bank of Ukraine shall regulate activities of the specialized banks through the economic ratios and regulations that support the operations performed by these banks. Each bank may acquire the specialized bank status when more than 50 percent of its assets are represented by assets of the same type. The bank shall acquire the status of specialized

savings bank if more than 50 percent of its liabilities represent the household deposits.

The National Bank of Ukraine shall exercise its regulatory and supervisory activities pursuant to the provisions of the Constitution of Ukraine, the present Law, the Law of Ukraine “On the National Bank of Ukraine,” other legislative acts and its own regulations.

The evolution of the national banking system in Ukraine started in March, 1991, after the adoption of the Law of Ukraine "On Banks and Banking" by the Ukrainian Verhovna Rada. The Ukrainian banking system is a two-tier structure consisting of the National Bank of Ukraine and commercial banks of various types and forms of ownership including the state-owned Export-Import Bank and a specialized commercial Savings Bank.

The National Bank of Ukraine serves as the country's central bank which pursues a uniform state monetary policy to ensure the national currency stability.

Commercial banks are formed as joint-stock companies or as companies on an equal footing with both legal and natural persons involved. The range of commercial banks activities includes: receiving deposits of enterprizes, institutions and households, crediting of economic entities and households, investments in securities, formation of cash balance and reserves, as well as other assets, cash and settlement servicing of the economy, foreign exchange operations and other services to natural persons and legal bodies.

The banks act in accordance with the Constitution of Ukraine, the Laws of Ukraine "On the National Bank of Ukraine", "On Banks and Banking", the Ukrainian legislation on joint-stock companies and other economic entities, as well as with the normative regulations of the National Bank of Ukraine and their Statutes.

Comments

1. two-tier structure – дворівнева структура

2. Savings Bank – банк зберігання

3. to pursue – займатися

4. uniform – однорідна

5. joint-stock – акціонерний капітал

6. on an equal footing – на рівноправній базі

7. entities – юридичний об’єкт

8. asset- актив, майно

9. to act in accordance with – діяти відповідно до

Ex.1 Say if it is right or wrong.

1. The banking system of Ukraine consists of the National Bank of Ukraine. 2. The banks in Ukraine may operate as universal or specialized banks. 3. Each bank may acquire the specialized bank status when more than 100 percent of its assets are represented by assets of the same type. 4. The Law of Ukraine "On Banks and Banking" was adopted by the President of Ukraine. 5. The National Bank of Ukraine serves as the country's central bank. 6. Commercial banks may perform foreign exchange operations.

Ex. 2. Answer the questions.

1. What does the banking system of Ukraine consist of?

2. How are the banks in Ukraine classified?

3. What should the National Bank of Ukraine regulate?

4. When was the Law of Ukraine "On Banks and Banking" adopted?

5. What does the range of commercial banks activities include?

6. In accordance with what documents do ukrainian banks act?

Ex. 3. Read the definition of Terms and translate them in Ukrainian.

The terms are used in the Law of Ukraine "On Banks and Banking" and shall have the following meaning:

“Affiliate of a bank” shall mean any legal entity in which the bank holds qualifying holding or which holds a qualifying share in the bank.

"Bank" shall mean a legal entity, which has an exclusive right, under the National Bank of Ukraine license, to perform the following general banking operations in aggregate: attraction of deposits and funds of households and legal entities, allocation of these funds on its own behalf, terms and at its own risk, and opening and servicing accounts of individuals and legal entities.

“Bank with foreign capital” shall mean a bank where the share of capital, owned by at least one non-resident, is equal to or exceeds 10 percent.

“Banking activity” shall mean deposit-attraction activity in respect of the funds of individuals and legal entities and allocation of these funds on the bank’s own behalf, terms, and at its own risk, opening and servicing accounts of individuals and legal entities.

“Bank credit” shall mean any obligation of a bank to extend a certain amount of money, any guarantee, any obligation to acquire the right to claim debt, or any extension of the debt maturity, which occurs in exchange for the borrower’s commitment to repay the debt amount, as well as an obligation to pay interest and other charges due on this amount.

“Bank accounts” shall mean the accounts which show bank’s own funds, claims, commitments of a bank in relation to its clients and counteragents, and which enable transfer of the funds by using the banking payment instruments.

“Deposit” shall mean the funds in cash or a non-cash form in the currency of Ukraine or a foreign currency which are placed by clients into their personal accounts with a bank according to an agreement with the bank for a specified period of time or without specification of such a period of time, and which are subject to repayment to the depositor under the laws and regulations of Ukraine and terms and conditions of the agreement.

“Business reputation” shall mean the aggregate confirmed information about a person enabling to draw a conclusion about his/her professional and managerial skills, integrity and compliance of his/her activities with law.

“Capital of a bank” shall mean a residual value of bank assets after deduction of all its liabilities.

“Client of a bank” shall mean any individual or legal entity that uses services of a bank.

“Funds” shall mean the money in the national or a foreign currency or its equivalent.

“Bank’s creditor” shall mean a legal entity or an individual who has a written confirmation of a claim to the borrower with regard to latter’s property obligations.

“Liquidation of a bank” shall mean a procedure for terminating the functioning of a bank as a

legal entity pursuant to the provisions of the present Law.

“Moratorium” shall mean the suspension of fulfillment of the bank’s obligations to creditors and obligations to pay taxes and charges (mandatory payments), as well as the suspension of actions aimed at ensuring the fulfillment of these commitments.

“Reorganization of a bank” shall mean merger, takeover, spin-off or break-up of a bank, transformation of its organizational and legal form resulting in the transfer, assumption of its property, funds, rights and liabilities by legal successors.

"Financial holding group" shall mean a financial institution that meets the requirements of Article 12 of the present Law.

Grammar Revew: Modal and auxiliary verbs. Can.

The verb can has two tenses in the indicative mood: Present and Past.

	Positiv	Negativ
Present	can	cannot	can't	[ka:nt]
Past	could	could not	couldn't	[kudnt]

For general ability in the past we use could. But if there are referring to an ability on a particular occasion in the past, we use was able to or managed to. The exception to this rule is with verbs of perception /see, hear, smell, taste, feel and verbs of thinking /understand, remember.

He could swim when he was seven.

Biн умів плавати, коли йому було сім років

Модальне дієслово саn (could) вживається: для вираження фізичної або розумової здібності, вміння або можливості виконати дію в теперішньому (саn) або в минулому (could):

Can you draw?

You can drive a car, can't you?

I can't hear what you say. Speak louder, please.

What can I do for you?

I can't go with you. I'm busy.

У майбутньому часі замість дієслова саn вживається сполучення to be able (у Future Indefinite)+інфінітив.

In two years you will be able to speak English pretty well.

I am glad I was able to help him.

She will be able to call on her sick friend to-night.

У розмовній мові для вираження фамільярного прохання, дозволу або заборони:

Can't you keep quiet for a minute?

Could I have your dictionary, please?

Could you do this for me?

У заперечній і питальній формі для вираження малої ймовірності, а також досади, нерозуміння:

It can't be true!

Can't you see I'm busy?

What can he mean by that?

Ex. 1 Translate into English.

1. Я не можу це зробити. 2. Так темно, що ми нічого не бачимо. 3. Ви туди доїдете автобусом? 4. Ми допоможемо йому всім, чим зможемо. 5. Звідки він знає? 6. З дітьми іноді буває дуже важко. 7. Не міг же я сказати це. 8. Можна їм поїхати на пікнік? 9. Ми можемо перейти вулицю тут. 10. Можливо, вони пішли туди, це недалеко. 11. Невже це цікаво? 12. Вона не могла цього бачити. 13. Принаймні ви можете сходити туди. 14. Я можу тільки зателефонувати їм. 15. Не можна не пригадати про це. 16. Смішніше не буває. 17. Вони зможуть тут добре відпочити. 18. Вона не змогла скласти іспит.

Topic 7: INTRODUCTION TO BUSINESS ACTIVITY

Ex. 1. Look at the following images of different types of business activity. In each case say what you think the business does.

The Hilton Hotel, Paddington

A black taxi

A scaffolding company

Now you have your list of what the businesses above do, think about what they have in common - there might be more than one thing but try to think simple at this stage - what is the one thing that they have in common that is the case with every business that they all do?

Ex. 2. Choose ONE of the businesses above. Write down a list of things that the business will need to carry out its activity. (For example, it will need equipment and people, but what types of equipment and what types of people)?

Ex. 3. In each of the business examples above, what do you think the aim of the business is?

Ex. 4. Try to revew how businesses are classified!

In business we often classify things to help make things easier to understand. We might classify a business in relation to what it does, its size, its objectives (what it wants to achieve) and where it is based and operates.

The word search below contains some of the terms relating to these classifications - see if you can find them.

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Small business International Public sector

Service National Secondary

Private sector Voluntary Regional

Primary Goods Large

Ex. 5. Now give the definition of the terms above, e.g.:

International. Definition: A large company operating in a number of countries and owning facilities outside the country of its origin.

Small business. Definition: The sector of the economy, often comprising of small businesses and individuals, which is unregistered with the tax authorities.

Voluntary sector. Definition: The voluntary sector is generally made up of two groups: charities and non-profit making organisations. In this sector, organisations exist in order to benefit the public or specific groups within society. Working in this sector, however, does not automatically mean that positions are unpaid. Many positions are salaried, while a significant number of volunteer posts also exist.

Ex. 6. Read and translate the text.

A business (also known as company, enterprise, or firm) is a legally recognized organization designed to provide goods, services, or both to consumers or tertiary business in exchange for money.[1] Businesses are predominant in capitalist economies, in which most businesses are privately owned and typically formed to earn profit that will increase the wealth of its owners. The owners and operators of private, for-profit businesses have as one of their main objectives the receipt or generation of a financial return in exchange for work and acceptance of risk. Businesses can also be formed not-for-profit or be state-owned.

The etymology of "business" relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. The term "business" has at least three usages, depending on the scope — the singular usage (above) to mean a particular company or corporation, the generalized usage to refer to a particular market sector, such as "the music business" and compound forms such as agribusiness, or the broadest meaning to include all activity by the community of suppliers of goods and services.

Business Functions

• Human Resources

• Sales and Marketing

• Research and Development

• Production/Operations

• Customer Service

• Finance and Accounts

• Administration and IT

Organisation Charts (Hierarchical Structure )

Managing Director

Sales Director

Marketing Director

Finance Director

Business Forecasting

Used to try to predict the future

Uses two main methods:

• Qualitative– seeking opinions on which to base decision making

consumer panels, focus groups, etc

• Quantitative– using statistical data to help inform decision making identifying trends

Moving averages – seasonal, cyclical, random

• Extrapolation - simple

Some businesses use alternative methods:

• Astrologers - is such a strategy any better or worse than using quantitative or qualitative methods

Grammar Revew: Modal and auxiliary verbs. Must.

"Must" is most commonly used to express certainty. It can also be used to express necessity or strong recommendation, although native speakers prefer the more flexible form "have to." "Must not" can be used to prohibit actions, but this sounds very severe; speakers prefer to use softer modal verbs such as "should not" or "ought not" to dissuade rather than prohibit.

Examples:

This must be the right address! certainty

Students must pass an entrance examination to study at this school. necessity

You must take some medicine for that cough. strong recommendation

Jenny, you must not play in the street! prohibition

Using "Must" in Present, Past, and Future

Most modal verbs behave quite irregularly in the past and the future. Study the chart below to learn how "must" behaves in different contexts.

Сertainty Present. That must be Jerry. They said he was tall with bright red hair.

Past. That must have been the right restaurant. There are no other restaurants on this street.

NO FUTURE FORM

Prohibition Present. You must not swim in that river. It's full of crocodiles.

Past. You must not forget to take your malaria medication while your are in the tropics.

Prohibition usually refer to the near future.

Strong recommendation (Americans prefer the form "should.")

Present. You must take some time off and get some rest.

Past. You should have taken some time off last week to get some rest.

Future. You should take some time off next week to get some rest.

Necessity (Americans prefer the form "have to.")

Present. You must have a permit to enter the national park.

Past. We had to have a permit to enter the park.

Future. We must get a permit to enter the park next week.

REMEMBER: "Must not" vs. "Do not have to"

"Must not" suggests that you are prohibited from doing something. "Do not have to" suggests that someone is not required to do something.

Examples:

You must not eat that. It is forbidden, it is not allowed.

You don't have to eat that. You can if you want to, but it is not necessary.

Ex. 1. Translate into English.

1.Йому треба піти. 2. Я не повинен цього говорити. 3. Треба значить треба. 4. Невже нам треба так далеко йти? 5. Треба подумати, що можна зробити. 6. Йому потрібно знати, чи це правда. 7. Я вас дуже прошу більше нам не телефонувати. 8. Вам не треба звертати уваги на це. 9. Не смій говорити мені про це. 10. Тут стоянка машин заборонена, чи не так? 11. І треба ж було їм прийти, коли ми йшли. 12. Вони, ймовірно, зараз в школі. 13 Якби він приїхав, він би точно зателефонував. 14. Коли всі лягли спати, він взяв і включив радіо.

Topic 8: BUSINESS ETIQUETTE