6.Does everything have a price? Are there some things you would not do regardless of price? Remember: prices and money are not synonyms; prices may be nonmonetary.
7. Summarize the information of the Unit to be ready to speak on Economics. The first step to be done is to write the plan of your future report.
8. Choose any question (problem, topic) relating to Economics and prepare a 5-7 minute report. Refer to different additional sources to make your report instructive, interesting and informative.
UNIT 2
BUSINESS ORGANIZATION
The world is a chain, one links another.
Your vocabulary
Business
– work relating to the production, buying, and selling of goods and services;
– an organization which produces and sells goods, or which provides a service;
– important matters that you have to discuss or deal with.
Businessman, Businesswoman – a person engaged in trade or commerce.
Business cycle
– process by which investment, output, and employment in an economy tend to fluctuate up and down in a regular pattern causing boom and depression, with recession and recovery as intermediate stages.
Organization
– a large group of people that has particular aims.
Organizer
– the person who makes all the arrangements for something and makes sure that happens as planned.
Ex. 1. Study the following words and word combinations and translate the sentences given below into Russian. Consult a good dictionary if necessary.
mean business, none of one’s business, go out of business, businesslike, be busy with, have no business to do, be in business, like nobody’s business, mind one’s own business
1. Mother has busied herself with our affairs for too long.
2. When traveling on business I take my tiny travel kit.
3. Let’s get down to business.
4. She had no business to publish his letters to her.
5. 50% of these stores were not in business five years ago.
6. They are working away like nobody’s business.
7. Umbrella sellers went out of business.
8. Stop teaching me! It’s none of your business.
9. Listen to me! I mean business!
10. The visit to Copenhagen was brisk and businesslike.
Ex 2. The words given below are the synonyms to the word organization. In what do they differ? Give your own definition to each of them.
Institution, council, body, entity, fund, trust, party, club, society, association, league, federation, union.
Ex. 3. Match thewords listed below with the dictionary definitions which follow.
accountability, effort, pattern, requirement, accomplish, existence, consumer, foster, affect, establish, benefit, involve
1. Create or set it up in a way that is intended to be permanent.
2. Help its development or growth by encouraging people to do or think about it.
3. Something that you must do or possess in order to be allowed to do some other thing.
4. The state of being real, alive, or actual.
5. Energy in the form of thought, action, time, or money that people use in their work.
6. It influences someone or something or causes them to change in some way.
7. Succeed in doing or finishing something.
8. Being responsible for and prepared to justify one’s actions.
9. A good result of something.
10. A person who buys things or uses services.
11. A particular, recognizable way in which something is done or organized.
12. To include somebody or something as a necessary part or use them in some way.
Ex. 4. Make the following words negative. Use prefixes -un, -in, -mis, -dis, -ir, and so forth.
Human, existence, enable, realized, regard, responsible, careful, systematic, effective, mature, aware, understand, loyal, formal, direct, continuous.
Ex. 5. Give the opposites to the following words. Use each of them in your own sentence.
Flexible, voluntary, to share, to adhere to, enjoy, confidential, consensus, versus.
Ex. 6. Be sure you know the meaning of the words given below. Give their derivatives.
Existence, accomplishment, benefit, authority, obligation, responsibility, extend, consider, favour, perception, value, equal, assume, conscious.
Ex. 7. Give the synonyms to the following words. Make up your own sentences to show the shades in their meaning.
To handle, to accomplish, goal, benefit, coerce, to achieve, to purchase, output, affect, to establish, to enhance, power.
Ex. 8. Translate into Russian. Pay attention to the economic and business terms.
1. Business is the production, buying, and selling of goods and services.
2. A business, company, or firm is an organization that sells goods or services.
3. A business is also may be referred to as an enterprise to emphasize its adventurous, risk-taking qualities, and business in general may be referred to as free enterprise and private enterprise.
4. Large companies are referred to as corporations, especially in the US.
5. Large companies operating in many countries are multinationals.
6. An entrepreneur is usually someone who builds up a company from nothing: a start-up company.
7. The people legally responsible for a company are its board or board of directors.
8. When a private company is bought by the state and brought into the public sector, it is nationalized.
9. When the state returns a company to the private sector in a sell-off, it is privatized.
10. A holding or holding company is one that holds stakes in one or more subsidiaries.
11. A holding company’s relationship to its subsidiaries is that of parent company.
What words and word combinations from ex. 8. do you consider to be economic and business terms? Explain what they mean.
Ex. 9. Translate the following text in written form.
The Interdependence of Society and Organizations
Modern societies have been called organizational. Unlike so-called prim–itive societies, modern ones produce most of their goods and services through special-purpose organizations that are, in the main, neither famil–ial nor tribal. Some of the organizations of a modern society are meant to earn a profit and some are «not-for-profit».
The organizational mode of conducting society's affairs means that virtually everyone in modern societies depends mightily upon how well organizations