3. Answer the questions:

Does the term “company” have the same meaning as the words “firm” and “business”? What do they say about the company if it is producing goods or trading? What does it mean to go into business? Explain the expression “to go out of business”? What does a company do if it gets bigger? What does the expansion of a firm mean? What company produces goods? What units of measurement define the expansion of a manufacturing company? What company is called a wholesaler? Who can sell goods retail? What companies may be called competitors? Why must a company be competitive? What kinds of advantages may a company have over its competitors? What is a market? What’s the difference between the domestic market and exporting? What does an importer do?

1.Yes, it does. A company is also called a firm or a business. 2. While the company is producing goods or trading, it is said to be in business. 3.To go into business means to start up. 4.To go out of business means to stop operating. 5.If a company gets bigger, it expands. 6. The expansion of a firm means it can produce more goods or sell more of its products. 7. A manufacturing company produces goods. 8.The quantity of products define the expansion of a manufacturing company. 9. A company which sells goods in large quantities is called a or wholesaler. 10. A company or person buying goods in bulk can sell goods retail. 11. Two or more companies which sell or manufacture the same products may be called competitors. 12. In order to sell more goods than its rivals, a company must be competitive. 13. They are for example cheaper or better products. 14. An area where there is a demand for certain goods is called a market. 15. The domestic market is an area where they sold goods produced in the very same country. Exporting means selling goods abroad. An importer buys goods abroad and imports them into his own country.

4. Choose the right tense forms of the verbs to restore the following text:

 

The Bank of England …(1) is Britain’s central bank. It …(2) was founded in 1694. It …(3) was owned  privately until it …(4) was nationalized in 1946. The Governor, Deputy Governor, and 16 directors …(5) form the Board of Directors. They …(6) are appointed by the Queen on the recommendation of the Prime Minister. The Bank of England …(7) is charged  with the control of the banking system in the interests of the nation. The Bank …(8) does not lend money to the Government. The Government …(9) borrows  the sums required by issuing Treasury bills. The style of work of the Bank …(10) is much admired by the world.

 

1. a)were                            b) was              c) are                            d) am                            e) is

2. a) is founded                             b) will be founded                            c) are founded                                          d) founded                            e) was founded

3. a) owned              b) owns                            c) was owned                            d) is owned                            e)will be owned

4. a) has been nationalized              b) were nationalized                            c) was nationalized              d) nationalized              e) had been nationalized

5. a) forms                            b) are formed                            c) formed                            d) form                            e) was formed

6. a) appointed                            b) appoints                            c) is appointed                            d) are appointed              e) appoints

7. a) is charged              b) charges                            c) charged                            d) had been charged              e) are charged

8. a) does not lend              b) is not lent              c) do not lend              d) will not be lent                            e) are not lent

9. a) borrow              b) is borrowed              c) borrows              d) is borrowing              e) borrowed

10. a) admire              b) admires                            c) am admired                            d) is admired              e) are admired