1. Small and medium businesses employ the majority of the population enabling them to earn a wage. It is the most flexible part of the labour market. It absorbs the main part of non-qualified labour resources who possess a low level of working experience but who are willing to work flexible hours. Very often it is the only place where women and young people having a low level of education and no work experience can find employment.
2. Small and medium business may be the most important factor for national prosperity, as they are a major source of income not only for the business community, but also for the members of their families. Moreover, small and medium businesses are a potentially effective means for enhancing the capacities of the population in industry and enterprise, and increasing their adaptability to market relations. Such businesses give individuals employment and income; opportunity to better control their own future; opportunity to unite a job and a private life to a far greater extent; opportunity of self-realization; to develop their abilities and talents.
3. In general, small and medium enterprises increase the effectiveness and vitality of the whole economy, create a platform for the social formation of a middle class, improve the regional structure of the economy, require fewer resources for starting-up and their failures do not cause catastrophic economic outcomes.
VII. , (1, 2, 3)
) (true)
) (false)
) (no information)
1) Small business is a business which usually employs fewer than 50 people and has a quite small financial turnover.
2) Small and medium enterprises dont contribute to the social formation of a middle class.
3) Women and young people having a low level of education and no work experience are often employed in small and medium businesses.
VIII. 3 :
Do small and medium enterprises failures lead to catastrophic economic outcomes?
2
1
I. (1-10).
(a j), :
| 1) commerce | a) a product that is brought from one country into another |
| 2) export | b) a country or area that is under political control of a more powerful country |
| 3) import | c) the people who live in the same area, town, etc. |
| 4) colony | d) the sale of goods in shops to customers for their own use |
| 5) equipment | e) the business of selling and sending goods to other countries |
| 6) currency | f) very large shop |
| 7) community | g) place where you buy things |
| 8) retail | h) the system or type of money that a country uses |
| 9) shop | i) the tools, machines, clothes etc. that you need to do a particular job |
| 10) supermarket | j) the buying and selling of goods and services |
II. a) 3, 5.
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|
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) -, . .
1) Japans growth has been becoming much less dependent on exports lately.
2) He finally came at 11 a.m. I had been waiting for him in the office since 8:30 a.m.
3) The US economy has been improving since the global financial crisis.
III. a) 1.
) . .
1) American consumers cannot keep spending more than they earn.
2) Tracing the complex flows of funds is often difficult.
3) Congress failed to approve proposal that the two countries have normalized trade relations.
IV. . , .
1) Russias population is expected to fall by 22 % between 2005 and 2050.
2) Insurance companies consider manual workers to be high risk.
3) Price rises are likely to grow next year.
V. . 1, 3.
Foreign Trade of the UK
1. The prominent position of British commerce in world trade during the 18th and 19th centuries resulted largely from the geographical isolation of the British Isles from the wars and political troubles. The development of the great trading companies, colonial expansion, and naval control of the high seas* were main factors. Before the 17th century the foreign trade of England was almost completely in the hands of foreigners. Wool was the principal export, and manufactured goods were the chief imports. Under the mercantile system the government fostered British foreign trade, the development of shipping, and trading companies. As British overseas possessions increased, the raising of sheep for wool and mutton became a major occupation in the colonies. The practice of exporting wool from England was gradually replaced by the import of wool and the manufacture and export of fabrics. Cotton textiles, iron, steel, and coal soon became significant British exports.
2. In the early 1990s Britain remained one of the worlds leading trading nations. Its major exports were road vehicles and other transportation equipment, industrial machinery, petroleum and petroleum products, etc. Exports were valued at $190 billion annually in the early 1990s. In the same period, annual imports totaled $221 billion. Trade with other Commonwealth members and with the sterling area (a group of countries whose currencies are tied to the British pound sterling) declined after Great Britain joined the European Economic Community (now the European Union) in 1973. Trade with Western Europe has become more important.
3. Most domestic retail trade is conducted through independently owned shops, although the number of chain stores and supermarkets is increasing. More than half of all wholesale trade is carried out in London.
VI. , (1, 2, 3)
) (true)
) (false)
) (no information)
1) As British overseas possessions increased, the raising of sheep for wool and mutton became a minor occupation in the colonies
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2) In the early 1990s the major exports in Britain were road vehicles and other transportation equipment.
3) UK trade with USA is increasing fast.
VII. 2 :
When did trade with other Commonwealth members and with the sterling area decline?
2
I. (1-10).
(a j), :
| 1) economics | a) investigation undertaken in order to discover new facts, get additional information, etc. |
| 2) self-interest | b) debate, argument |
| 3) prize | c) science of the production, distribution and using up of goods |
| 4) research | d) analyzing, e.g. a book, a situation, information, etc, possibly with comment and judgment |
| 5) resolution | e) resolving, solution (of a doubt, question, etc) |
| 6) price | f) ones own interests and personal advantage |
| 7) dispute | g) number of persons united for business or commerce |
| 8) company | h) the activity of controlling and organizing |
| 9) analysis | i) something (to be) awarded to one who succeeds in a competition, etc. |
| 10) affair | j) sum of money for which something is (to be) sold or bought |
II. a) 3, 5.
) -, . .
1) Thousands of new products are being presented at the Consumer Electronics Show in Las Vegas.
2) More companies are using 3-D printing to directly manufacture some products.
3) The Committee on Banking Supervision has been working on a set of recommendations.
III. a) 1.
) . .
1) Consumer spending is seventy percent of the economic activity in the United States.
2) Commercial properties face two serious problems: falling prices and refinancing.
3) After the recession jobs have continued to disappear, though at slower rates.
IV. . , .
1) Growth in the United States is expected to reach about two and a half percent in two thousand ten.
2) Experts say the situation is likely to continue until investors feel more sure about signs of economic recovery.
3) The Delegation is reported to have left London.
V. . 3, 4.
