The extra money could be spent on improving public transport

The chemicals are transported by road to the processing plant.

25. The country is a net importer of oil (= it imports more than it exports).

26. Traditionally, the country was an importer of capital to finance industrial growth.

27. Ferryboat is a vessel for transporting passengers and usually vehicles across a body of water, especially as a regular service.

Task 8. Fill in the blanks with the appropriate words from the box. Translate the passage.

deficit	imports	tangible	Balance of Trade
surplus	exports	invisibles	Balance of Payments

In many countries a useful distinction is drawn between the (1) _____ and the Balance of Payments. The “Balance of Trade” refers only to the trade of (2) _____, or physical, objects (commonly known as (3) _____ and imports) – in other words, “visibles”, while the “ (4) _____” includes trade in “ (5) _____” as well.

Thus a nation may have a positive (or (6) _____) “Balance of Trade” because it exports more than it (7) _____ – but a negative (or (8) _____) “Balance of Payments” because, overall, it has a much greater shortfall in “invisible” transfers.

Task 9. Think and answer.

1. Is it possible for nations to remain economically self-sufficient these days?

2. Does globalization have anything to do with international business?

3. Why do some countries export more than import?

4. Does a surplus Balance of Trade of a country say anything about its overall financial health?

5. Why do governments try hard to attract foreign investments?

6. Can domestic business be integrated into the world business without government assistance?

7. Why do many companies try to engage in international business activities?

8. What forms can international business activities take?

9. Is international business expansion possible without foreign ownership?

10. Is it easy for businesses to reach international markets?

11. Are there specific legal restrictions for companies with interests in multiple countries?

12. Can cultural factors interfere with a company’s attempt to sell its products in foreign countries?

13. Is politics an important factor influencing international business?

14. Is it possible for nations to achieve political objectives through international business activities?

15. Is international business affected by various trade restrictions?

16. Can international business facilitate mutual understanding between nations?

17. What companies dominate the world business these days?

Task 10. Practice reading the following words.

1. acumen [`ækjumən] / [ə`kju:mən] 2. advance[əd`vα:n^ts] / [əd`væn^ts] 3. the Basel Accords [`bα:z^əl ə`kO:dz] 4. branch [brα:n t ∫] / [bræn t ∫] 5. catalogue [`kætəlOg] 6. category [`kætəg ə ri] / [`kætəgO:ri] 7. to cause [kO:z] 8. collaborative [kə`læb ə rətıv] 9. commis­sion [kə`mı∫^ən] 10. conflict [`kOnflıkt] / [`kα:nflıkt] 11. consortium[kən`sO:tiəm] 12. to continue [kən`tınju:] 13. conventional[kən`ven^t∫^ən ə l] 14. determinant [dı`tə:mınənt] 15. dynamic[daı`næmık] 16. e-commerce[`i: `kOmə:s] / [`i: `kα:m^ərs] 17. energy[`enəGi] / [`en^ərGi] 18. environment [ın`vaı^ər ə nmənt] 19. expansion [ık`spæn^t∫^ən] 20. ExxonMobil [`eksOn ] 21. franchise [`fræn t ∫aız] 22. General Motors[`Gen^ər ə l `məutəz] 23. globalization [ֽgləub^əlaı`zeı∫^ən] 24. grouped [gru:pt] 25. increasing [ın`kri:sıŋ] 26. the Kyoto Protocol [ki`əutəu `prəutə u kOl] 27. legal [`li:g^əl] 28. licence [`laıs^ən^ts] 29. manufacturer [ֽmænju`fækt∫ ə rə] 30. multiple [`mAltıp^əl] 31. to navigate [`nævıgeıt]

32. to occur [ə`kə:] 33. ownership [`əunə∫ıp] / [`əun^ər∫ıp] 34. patent [`peıt^ənt] / [`pæt^ənt] 35. pathway [`pα:θweı] / [`pæθweı] 36. perspective [pə`spektıv] / [p^ər`spektıv] 37. physical[`fızık^əl] 38. primary [`praım ə ri] 39. to prove [pru:v] 40. purchaser [`pə:t∫əsə] 41. religious [rı`lıGəs] 42. representative [ֽreprı`zentətıv] 43. to require [rı`kwa ı ə] / [rı`kwaı^ər] 44. respective [rı`spektıv] 45. to respond [rı`spOnd] / [rı`spα:nd] 46. Samsung [`sæmsAŋ] 47. signatory [`sıgnət ə ri] / [`sıgnətO:ri] 48. socio-cultural[`səu∫iəu `kAlt∫^ər ə l] / [`sousiou `kAlt∫^ər ə l] 49. sole [səul] / [soul] 50. Sony [`səuni] / [`souni] 51. subsidiary [səb`sıdiəri] / [səb`sıdieri] 52. success [sək`ses] 53. technological[ֽteknə`lOGık^əl] 54. therefore [`ðeəfO:] / [`ðerfO:r] 55. through [θru:] 56. Toyota [tOı`əutə] / [tOı`outə] 57. transaction [] 58. treaty [`tri:ti] 59. typically [`tıpık^əli] 60. uniform [`ju:nıfO:m] / [`ju:nıfO:rm] 61. various [`veəriəs] 62. vehicle [`vi:ık^əl] / [`vi:ək^əl] 63. wholly-owned [`həuli `əund] / [`houli `ound]

Task 11. Read the text.

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