IV.Translate the following sentences

III.Translate the word combinations.

II. Answer the following questions.

Commentary and Notes to the text

Advantages of Being an Entrepreneur

Small Business and the Entrepreneur

The thought of owning a business enterprise is very appealing to many people. The personal satisfaction of starting and building a business venture is strong motivation for entrepreneurs. The goals of economic success and independence attract many persons to business ownership. Although business ownership is risky, this does not prevent hundreds of thousands of persons from starting new businesses every year.

The entrepreneur who owns a small business has a number of competitive advantages over the giant corporation. These advantages include the capacity to innovate, to be flexible and to give personalized attention. In addition, the entrepreneur has the opportunity to earn financial rewards and independence.

1. receipts [rɪ'siːt] денежные поступления

2. subtract[səb'trækt] вычитать

3. deduct[dɪ'dʌkt] вычитать, отнимать; удерживать

4. take account of – подсчитать что-либо

5. generate ['ʤen(ə)reɪt] вызывать, порождать; производить; генерировать, делать

6. fixed costs фиксированные расходы; постоянные затраты, постоянные издержки

7. variable costs переменные расходы

8. revenue ['rev(ə)njuː] доход; выручка

9. seek [siːk] (seek for / after) искать, разыскивать; предпринимать попытки, пытаться; добиваться (чего-л.), стремиться (к чему-л.)

10. the short run в течение короткого периода времени

11. flexible ['fleksəbl] гибкий; маневренный; подвижный

12. reward [rɪ'wɔːd] награда; денежное вознаграждение

1. What is one of essential characteristics of the private enterprise system?

2. What is the profit?

3. What do business risks include?

4. Most owners and managers seek a satisfactory level of profits, don’t they?

5. What is the strong motivation for entrepreneurs?

6. Why doesn’t business ownership prevent hundreds of thousands of persons from starting new businesses every year?

7. What advantages doesthe entrepreneur of a small business have?

Business enterprises, profit motive, business profits, sales receipts, enterprise operations, consumer demand, risk management, family income, price indexes, wholesale sales, market research, credit terms, payment condition, government laws, exchange control, storage facilities.

1.We agree to make some changes if you find it necessary.

2.The discussion won’t take long if everybody speaks to the point.

3.We can deliver the machine in December provided (that) we receive your order within the next ten days.

4.We shall be grateful if you send us your catalogue of Diesel engine.

5. Business managers profit from enterprise operations provided that they have new equipment.

6. A business enterprise can be expected to fail if it does not earn a profit over the long run.

7. If the entrepreneur will be flexible and creative he has the opportunity to earn financial rewards and independence.

8. If the prospects of receipts are greater than expenses, a lot of people undertake economic activity.

V. Fill in the gaps with proper prepositions: above, in, within, of, by, between, on, at, for, with.

1. The company has already coped … the immediate task.

2. They estimate the losses … 2,000 dollars.

3. The firm violated the contract … delivering goods of low quality.

4. Sales can be based … quality and service rather than quantity and price,

5. Payment will be made …ten days.

6. The construction of this plant will be completed … eight months.

7. There were… 200 people there.

8. He is looking … a good job.

9. This ship makes regular voyages … Odessa and Batumi.

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