Exercise 3. In each of the following select the word or phrase that best completes the statement or answers the question

Exercise 2. Answer the following questions.

Exercise 1. Match the English words with their Russian equivalents.

1. consumerism A. ежедневное ведение хозяйственной деятельности

2. daily operations B. кон­тролировать, наблюдать; инспектировать

3. vendor goodwill C. недвижимость

4. real estate D. оказывать (помощь)

5. transportation costs E. возмещать, компенсировать

6. to supervise F. на­кладные расходы

7. research facilities G. эффективность; производительность

8. to cope with H. превышать; превосходить

9. offset I. спрос

10. to handle J. транспортные рас­ходы

11. rewards K. приспосабливать

12. adjust L. поддерживать

13. tax burdens M. справиться

14. rendered N. расширение, рост

15. exceeds O. бремя налогового обложения

16. lack P. гудвилл фирмы

17. over­heads Q. недостаток, нехватка, отсутствие

18. to maintain R. управлять, осуществлять контроль

19. efficiency S. средства на ис­следование

20. demand T. поощрение, вознаграждение

21. expansion U. консьюмеризм

1. Why are small firms more preferable when new products or ideas are being used?

2. Why do small firms have advantages when the personal attention of the owner is essential to daily operations?

3. Why are large firms less efficient where personal professional services are dominated?

4. What are the advantages of small firms when the market for the product is local and there are wide variations in demand and styles?

5. What advantages do small firm owners have?

6. What disadvantages of small firms do you know?

7. How can owners of small firms overcome disadvantages?

8. In what way can owners of small firms be rewarded?

9. What requirements for successful ownership of small business firms are mentioned in the passage? Which are the most important?

1. An advantage of small businesses over big businesses is that small businesses

a. are more flexible с are less regulated

b. have fewer problems d. are all of the above

2. Which of the following would be classified as working for some­ one else?

a. physician in private practice с retail sales clerk

b. dairy farmer d. attorney

3. Big business, some people believe,

a. is unethical c. has more political power

b. strangles small business d. does all of the above

4. A list of skills in order of difficulty or rank is called

a. a rank list с a hierarchy

b. a guild record d. a table of skills

5. Small businesses when compared to big businesses

a. are more likely to succeed с are a greater risk

b. employ more workers d. usually require less capital to start

6. Future innovations in technology will

a. create opportunities for small businesses.

b. put small businesses out of business.

c. decrease employment in some industries.

d. all of the above.

7. Which of the following products can be sold in vending ma­chines?

a. hot soup and sandwiches с. insuarance policies

b. stockings d. all of these

8. Which of the following is a performance test?

a. driving (road) test с. blood test

b. IQ test d. written driver's test

9. Which of the following is a repair business that services busi­nesses?

a. watchmaker с office machine repair

b. TV repair shop d. dentist

10. Which of the following is not a financial business?

a. credit union с. investment banker

b. insurance company d. company that prints paper money

11. If you opened a hamburger stand, you would probably need a

a. license c. variance or permit

b. lemonade stand d. all of these

12. What businesses are most people likely to have been involved with while still in school?

a. paper route c. babysitting

b. lemonade stand d. all of these

13. Which of the following statements is true?

a. Small businesses can be very small.

b. Small businesses must be run on a full time basis to be
profitable.

c. Small businesses are not found in the production area,

d. All distribution businesses are small.

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