- •The Private Enterprise System
- •Unit 13
- •What is Business?
- •Key Words and Phrases
- •Ex. 5. Make a short summary of the text. Unit 14 The Private Enterprise System
- •Key Words and Phrases
- •Exercises on the text: Ex. 1. Read and translate the text. Ex. 2. Answer the following questions:
- •Ex. 3. Give Ukrainian equivalents for the following words and word combinations. Try to memorize them:
- •Ex. 4. Fill in the blanks with noun, verb or adjective forms. Use your dictionary if necessary.
- •Key Words and Phrases
- •Ex. 5. Discussion question.
- •Competition unit 18 Types of Competition
- •Key Words and Phrases
- •Unit 19 Monopoly and Competition
- •Key Words and Phrases
- •Key Words and Phrases
- •Exercises on the text: Ex. 1. Read and translate the text. Ex. 2. Answer the following questions:
- •Ex. 3. Give Ukrainian equivalents for the following words and word combinations:
- •Ex. 4. Fill in the blanks with noun, verb or adjective forms. Use your dictionary if necessary.
- •Ex. 5. Give the main idea of the text. Unit 24 Efforts to Combat Monopoly
- •Key Words and Phrases
- •Ex. 4. Fill in the blanks with noun, verb or adjective forms. Use your dictionary if necessary.
- •Ex. 5. Give your opinion of this text. What problems are raised in this text? unit 23
- •Imperfect Competition
- •I. Many Small Sellers and Buyers
- •II. Homogeneous Product
- •III. Perfect Knowledge, Free Entry and Perfect Mobility of the Factors of Production
- •Diminishing Number of Sellers
- •Key Words and Phrases
- •Ex. 5. Speak on the content of the text. Unit 22 Foundations of Monopoly Power
- •I. Immobility of the Factors of Production
- •II. Ignorance
- •III. Indivisibilities
- •IV. A Deliberate Policy of Excluding Competitors
- •Key Words and Phrases
- •Ex. 5. Give a short summary of the text. Unit 21 Modern Monopolies in Economic Development
- •Key Words and Phrases
- •Exercises on the text: Ex. 1. Read and translate the text. Ex. 2. Answer the following questions:
- •Ex. 3. Give Ukrainian equivalents for the following words and word combinations:
- •Ex. 4. Fill in the blanks with noun, verb or adjective forms. Use your dictionary if necessary.
- •General Provisions
- •Chapter II Unlawful Use of Business Reputation of an Economic Entity (Entrepreneur)
- •Chapter III Obstructing Business of other Economic Entities (Entrepreneurs) in the Course of Competition and Gaining Unlawful Advantage in Competition
- •Chapter IV Unlawful Collection, Disclosure, and Use of Commercial Secrets
- •Chapter V Responsibility for Unfair Competition
- •Chapter VI Legal Principles of Protection Against Unfair Competition
- •Section I
- •Section II Abuse of monopoly position on the market. Unlawful agreements. Discrimination against entrepreneurs
- •(Validity of this article is suspended in accordance with the Decree of the Cabinet of Ministers of Ukraine of May 12, 1993
- •Section III Unfair competition
- •Section IV State control over observance of the antimonopoly legislation
- •Section V Responsibility for violations of the antimonopoly legislation
- •Ukraine
- •Subdivision X. International treaties
- •Law on Containing Monopolism, Preventing Unfair Competition Text of Law
- •Section I General Principles
- •Section II abuse of monopoly status in the market. Illegal agreements. Discrimination against business entities
- •Section III unfair competition
- •Section IV state supervision over observance of antimonopoly legislation
- •Section V liability for violating antimonopoly legislation
- •Section VI
- •Investigation of cases by the antimonopoly committee of ukraine and appeals against its rulings
- •Decree on Implementation
- •Presidential Regulation
- •Statute on Functions of Council
- •Council Composition
- •Law of Ukraine
- •On the Antimonopoly Committee of Ukraine
- •Chapter I
- •General provisions
- •Chapter II Structure, competence, and organisation of activities of the Antimonopoly Committee of Ukraine
- •Chapter III Status of a State Commissioner and a Head of Territorial Office of the Antimonopoly Committee of Ukraine
- •Chapter IV Legal basis for realisation of the powers of the Antimonopoly Committee of Ukraine
- •Chapter V Other issues of activities of the Antimonopoly Committee of Ukraine
- •L. Kravchuk President of Ukraine
P A R T II
The Private Enterprise System
Unit 13
What is Business?
Key Words and Phrases
profit - seeking activities |
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What do we think of when we hear the word "business"? Some of us think of our jobs, others of the merchants they deal with as consumers, and still others of the millions of firms that make up the world’s economy. This broad, all-inclusive term can be applied to many kinds of enterprise. Business provides the bulk of our employment as well as the products we enjoy.
Business consists of all profit-seeking activities and enterprises that provide goods and services necessary to an economic system. Some businesses produce tangible goods, such as automobiles, breakfast cereals, and computers chips. Others provide services, such as insurance, car rentals, and lodging. German firm Munich Re has even built a billion dollar business from serving the service industry. Its business is reinsurance: insuring insurance companies so they do not go broke from backing major catastrophes. Business is the economic pulse of a nation, the means through which society’s standard of living improves. Profits are a primary mechanism for accomplishing these goals. Accountants and business people define profits as the difference between a company’s revenues (receipts) and expenses (expenditures). Profits are the financial rewards by successful people who take the risk involved in business.
Just as important as profits are the social and ethical responsibilities that successful businesses must meet. This means companies must be responsible in their dealing with employees, consumers, suppliers, competitors, government, and the general public if they are to succeed in the long run. Robert D. Haas, chairman and chief executive officer of Levi Strauss & Company, says, "A company's values – what it stands for, what its people believe in – are crucial to its competitive success. Indeed, values drive the business." Haas feels so strongly about the social responsibilities of business that he drafted an Aspirations Statement for Levi Strauss that emphasizes the importance of "affirming the best of our company’s traditions, closing gaps that may exist between principles and updating some of our values to reflect contemporary circumstances."
Exercises on the text:
Ex. 1. Read and translate the text.
Ex. 2. Answer the following questions:
What is business?
What is profit?
What is the role of profit in business?
What can you say about the social and ethical responsibilities that successful business must meet?
Ex. 3. Give English equivalents for the following words and word combinations. Try to memorize them:
сучасні обставини; мати справу з виробництвом; діяльність, що приносить прибуток; продукція, котра нам подобається; страхова компанія; компанії повинні відповідати за свої справи …; кращі традиції нашої компанії.
Ex. 4. Fill in the blanks with noun, verb or adjective forms. Use your dictionary if necessary.
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execution |
execute |
executive |
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competitive |
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production |
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satisfy |
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valuable |
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reflection |
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apply |
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success |
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