Copy out the topic sentence in each paragraph that could be useful for composing a plan to the text

Write a brief summary of the text. Use the following key-patterns.

Write a brief summary of the text. Use the following key-patterns.

1. The text deals with …...

2. As the title implies the text describes …...

3. It is spoken in detail …...

4. The text gives information about …...

5. Much attention is given to …...

6. The text is of great help to …...

Answer the questions.

1. Do all economists agree that the sole aim of firms is to maximize profits?

2. What does “a separation of ownership and control “mean”?

3. Do shareholders and directors pursue the same objectives?

4. What do salaries of managers depend on?

5. What can low profits of a company lead to?

6. How may shareholders arise managers' interest in maximizing profits?

Summarize the information of the text and render it.

Look through the text and fill in the gaps with the words given below.

There are three types of firm:..(1).. “sole traders”, partnerships, and companies. Sole traders..(2)..the most numerous but are often..(3)..small. The large business firms are companies.

A company is an organization set..(3)..to conduct business. Companies are owned by..(4)..but run by managers responsible to the board of..(5).Shareholders have limited liability. Partners and sole..(6)..have unlimited liability.

Revenue is what the firm..(7)..from sales. Costs are the expenses incurred in producing and selling...(8)..are the excess of revenue over costs. Costs..(9)..include opportunity costs of all resources used in..(10)... Opportunity cost is the amount an input could obtain in its..(11)..highest paying use. In particular, economic costs..(12)..the costs of the owner’s time and effort in..(13)..a business. Supernormal profit is the pure profit accruing to the..(14)..after allowing for all these costs.

(production, owners, traders, self-employed, shareholders, earns, should, are, profits, very, running, up, directors, include, next)

Render the text into English.

Дата добавления: 2014-11-29