Ex. 5 Find in the text and write down terms to the following definitions.

ð a specially built covered area containing shops and restaurants which people can walk between, and where cars are not allowed;

ð the state of being rich; material prosperity;

ð excess of revenues over outlays and expenses in a business enterprise over a given period of time, usually a year;

ð a sum of money that you borrow;

ð a person who acquires goods and services for his or her own personal needs.

Ex. 6 Say if the statements are true or false. Justify your answer.

1. A firm is an organization that sells and buys either goods or services.

2. The difference between a corporation and a cooperative lies in the activities of its owners.

3. There are 3 types of shopping: necessary, recreational and window one.

4. According to their purposes, enterprises may be private or state-owned.

5. Retailing is usually performed in three different ways.

6. If you buy something from a wholesaler, you’ll save a good deal of money.

7. Like private limited companies, public limited ones have the right to sell their shares to people.

8. A bicycle can be referred to hard goods.

Ex. 7 Answer the following questions:

1. What is good and bad about being the only one who owns a firm?

2. What is retail?

3. What are the main differences between a private and state-owned enterprise?

4. What is special about merchandise agents and brokers?

5.  What are the major retail outlets?

6. What is wholesaling?

7. What do corporations and cooperatives have in common?

8. Who is liable for the debts of a private limited company?

Ex. 8 Examine the reasons of starting a business.

Ex. 9 Describe the main financing sources of state and private enterprises.

Ex. 10 Explain the difference between ‘ltd’ and ‘plc’.

Ex. 11 Prove that any trading company is considered commercial, but not any commercial company is considered a trading one.

Ex. 12 Discuss the text according to the points:

Ø common forms of business ownership;

Ø retail and its classification;

Ø the main categories of wholesalers.