Text II

In everyday language, capital means several things. The most general meaning is wealth or money. But it also refers to the equipment that money purchases. As one of the basic factors of production, capital is all of the things that workers use in production and distribution. It includes their tools, machines, and buildings such as factories and warehouses where goods are produced and stored. Capital, therefore, refers to anything which helps to produce and distribute goods.

Putting together land, labor, and capital to make something of value, is called entrepreneurship. The entrepreneur is the person responsible for controlling and directing the other three factors. The entrepreneur does not make things with his own hands unless he is also a worker. In a business the workers take orders from the entrepreneur. He is the leader, and the employees follow his direction.

Entrepreneurship includes some other important activities. The entrepreneur is responsible for initiating (beginning) business activity. He must begin his business by bringing together the land, labor, and capital. Next, he must manage the business by deciding the general policies for business operation. In order to be successful, an entrepreneur must also be innovative (have new ideas). He must look for new products or new ways of making things, and new methods of distribution, or he must offer new services. He must be able to decide on the value of things which other people invent, whether it is a new toy, a new method of filing, or a new way of advertising. Finally, he bears all the risks (takes all the chances) of the business.

Вариант III

I. Перепишите и письменно переведите предложения, определите в каждом из них видо-временную форму и залог глагола-сказуемого.

1. The exporter has received immediate payment from the leasing company.

2. The payment will be provided to the negotiating bank.

3. All the documents must be attained in full conformity with contract terms.

4. We informed the applicant that the irregularities had been mentioned.

II. Перепишите и письменно переведите предложения, обращая внимание на согласование времен.

1. The process of payment from bank to bank was greatly quickened after SWIFT system had been introduced.

2. This system was pioneered by the USA where plastic cards proved a goldmine for banks.

3. They said that customers were looking for another place to buy their products.

4. We learned that it would be necessary to use land labour and capital to produce things.

III. Перепишите и переведите предложения обращая внимание на перевод инфинитива и герундия.

1. In the British economy miners were able to use the renewed demand for coal.

2. Managers of factories must ably safety requirements even where these are costly to implement.

3. It is possible to convert fixed capital into working capital by renting buildings, hiring plants, etc.

4. The taxpayer was saved from paying out large sums to unemployed people.

5. They introduced the changes not to suffer losses and not to lose customers.

IV. Перепишите и письменно переведите предложения, учитывая разные значения слов.

1. It was the accountant who made the calculations.

2. The demand has grown as compared with that last month.

3. One knows that they are going to start a business.

4. The distributor is the one who distributes goods.

5. One and the same term is interpreted in every dictionary in the same way.

V. Прочтите и переведите письменно текст

TEXT III

In business there are many legal (permitted by law) forms of organization. The form of organization means the type of ownership. The main differences between the types of ownership are in their ability to raise capital, the size and continuity of the enterprise (business), the disposition (use) of profits, and the legal obligations (requirements) in the event (case) of bankruptcy. Each form has certain advantages and disadvantages. The three forms discussed in this lesson are the sole proprietorship, the partnership, and the corporation.

The form which requires the least amount of capital and personnel is the sole proprietorship. Sole means single, and the proprietor is the owner. Therefore, a sole proprietorship is a business owned and operated by a single person. This single person can start a business by simply purchasing the necessary goods and equipment and opening up shop. There are very few government and legal regulations (rules) to comply with (follow). The sole proprietor owns all the business assets (property), makes all the decisions, takes all the risks, and keeps all the profits of the business. The business itself pays no tax, but the owner must pay personal income taxes on his profits. If a sole proprietor is successful, he takes a lot of personal satisfaction in his enterprise. If he is not successful and he wants to close his business and start a new one, he simply has to sell his inventory (products or supplies) and equipment, pay his bills, close up shop, and begin a new activity.

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