Answer the following questions. 2. Your faculty trains book-keepers, accountants and financiers, doesn't it?

1. Where do you study?

2. Your faculty trains book-keepers, accountants and financiers, doesn't it?

3. What is your future speciality? Why did you choose this speciality?

4. What subjects do you need for your future speciality?

5. Where can the graduates work?

6. What are financiers responsible for?

7. What is the difference between an accountant and a book-keeper?

Translate from Russian into English.

Выпускник, работать в, обязанность, балансовый отчет, менеджер по продажам, заниматься чем-либо, денежное поступление, денежная выплата, финансовая политика, быть ответственным за что-либо, престижный, собираться сделать что-либо.

Put a question tag to the following sentences.

1. Our Institute gives us thorough knowledge of various general and special subjects.

2. Some graduates of our faculty work at the educational institutions, various research centers and laboratories, in industry, business and banks.

3. Financiers' duties include different tasks aimed to maximize their firms' wealth.

4. They are concerned with capital budgeting, choice of capital structure, and working capital management.

5. An accountant is one of the most prestigious and widely required professions today.

Match column A with column B. Make up two sentences using these word combinations.

A B

1) to be involved a) for

2) to be responsible b) in

3) to be concerned c) by

4) to be employed d) with

Circle the word that does not belong.

1. Book-keeper, accountant, lawyer, auditor.

2. To study, to train, to learn, to drink.

3. Firm, enterprise, company, society.

4. Budget, product, turnover, capital.

5. Credit, income, profit, earning.

Read the text and say, are the sentences below True or False.

What is a manager?

A number of different terms are used for «manager», including «director», «administrator» and «president». The term «manager» is used more frequently in profit-making organizations, while the others are used more widely in government and non-profit organizations such as universities, hospitals and social work agencies.

What, then, is a manager?

When used collectively the term «management» refers to those people who are responsible for making and carrying out decisions within the system. An individual manager is a person who directly supervises people in an organization.

Some basic characteristics seem to apply to managers in all types of organizations: they include hard work on a variety of activities, preference for active tasks, direct personal relationships.

Almost everything a manager does involves decisions. The reason for making a decision is that a problem exists. In decision-making there is always some uncertainty and risk.

Managing is a hard job. There is a lot to be done and relatively little time to do it. The engineer can finish a design on a particular day, and the lawyer can win or lose a case at a certain time.

1. Only one term is used for «manager».

2. The term «manager» is used more frequently in non-profit organizations.

3. The term «manager» means those people who are responsible for making and carrying out decisions within the system.

4. An individual manager is a person who monitors people in an organization.

5. Managers' work is hard, active and it involves decisions.

Match the words with their corresponding definitions.

know-how, management, voucher, to organize, risk, forecast, productivity, to handle

1) an estimate of what will happen in the future;

2) to deal with something;

3) knowledge about how some thing works;

4) controlling and running a business or a part of business;

5) to plan and operate something so that it works efficiently;

6) measurement of output per worker;

7) chance of failure;

8) a paper coupon given instead of money.

Match the English words with their Russian definitions.

1) careers adviser a) курс повышения квалификации

2) training centre b) трудовой стаж

3) choice of profession c) учебный отпуск

4) modular courses d) обучение без отрыва от производства

5) career development e) пособие на обучение

6) adult education f) испытательный срок

7) vocational education g) уровень квалификации

8) work experience h) служба профориентации

9) in-company training i) профессиональная переподготовка

10) unskilled labour j) дистантное / заочное обучение

11) labour market flexibility k) выбор профессии

12) distance learning l) неквалифицированный труд

13) study leave m) подвижность рынка труда

14) skill level n) консультант по выбору работы

15) refresher course o) профессиональное образование

16) occupational training p) учебный центр

17) careers service q) модульные курсы

18) training allowance r) продвижение по службе

19) training workshop s) образование для взрослых

20) trial period t) учебный семинар

Remember the following job titles.

Chairman of the Board, (of Directors)	председатель совета директоров, правления
(Chief) General Manager	генеральный директор
Chief Executive President	исполнительный директор
Managing Director	директор-распорядитель
Chief Executive Officer	главный исполнительный директор корпорации (обычно президент)
Deputy Managing Director	заместитель директора-распорядителя
Director	директор, член правления
Vice President	вице-президент, член правления
Accounting Manager	главный бухгалтер
Financial Manager	финансовый директор
Export Manager	директор по экспорту
Marketing Manager	директор по сбыту
Office Manager	руководитель конторы
Personnel Manager	начальник отдела кадров
Production Manager	директор по производству
Sales Manager	коммерческий директор
Training Manager	заведующий отделом повышения квалификации / подготовки кадров
Warehouse Manager	заведующий складом
Goods Expert	товаровед
Transport Manager	заведующий транспортным отделом
Supervisor	инспектор; лицо среднего руководящего персонала
Store Manager	заведующий магазином

Read and translate the following articles.

Directors and managers

As a rule a private company has only one director.

A public company must have at least two directors. Usually there is no upper limit on the number of directors a public company may have. The company's note-paper must list either all or none of the names of its directors.

A limited liability company or a corporation is headed by the board of directors elected by shareholders. The directors appoint one of their number to the position of managing director to be in charge of the day-to-day miming of the company. In large organizations the managing director is often assisted by a general manager. Some companies also have assistant general managers. Many directors have deputies who are named deputy directors.

Directors need not be shareholders. They are responsible for the management of a company's affairs. They are not subject to any residence or nationality restrictions.

Big companies have many managers heading departments. They are all responsible to the managing director. Among various departmental managers (directors) the following can be mentioned:

· sales manager;

· personnel manager;

· chief manager;

· district manager;

· sales and marketing manager;

· industrial engineering manager etc.

The entrepreneur

Land, labour and capital are required if production is to take place. If left to themselves, however, these factors of produc­tion will not produce anything. They have to be brought to­gether and organized into a unit of production. Someone must take the decision on what to produce, and on how and where to produce it. In addition, the services provided by the land, labour and capital have to be paid for.

The person (or persons) who undertakes the responsibili­ties and risks of employing land, labour and capital, and who decides how these resources are to be used, is described as an entrepreneur.

Entrepreneurs, then, are decision-takers and risk-bearers. They must take risks because they purchase and employ the services of the factors of production without any guarantee that the money they will obtain from selling their outputs will cover their costs. They can have no certainty that they will make a profit. It is the expectation of profit which persuades them to accept the risks of setting up and carrying on a busi­ness.

Entrepreneurs as risk-bearers, organizers and managers are recognized as a fourth factor of production. In the one-person business it is easy to recognize the entrepreneur, because one person takes all the risks and all the important decisions. In a large company, however, the risks are borne by the people who put their money into the business, the shareholders, while management decisions are taken by the directors. The different tasks of the entrepreneur are carried out by different groups of people.

Unit 15. JOB OPPORTUNITIES

There is nothing unusual for a person to have a number of jobs in the United States. Many people start working at the teenager's age as dish-washers, street cleaners, and window washers. Some youngsters mow the lawn or clean cars and earn pocket money. Students, for whom tuition is not free of charge, do part-time work in cafes, restaurants, hotels and in the University campus. There is a special agency at each University or college in the US which informs the students of the available part-time or vacation employment. For example, such occupation as stewards, bar staffers, shop assistants, fitness instructors and even lifeguards in the water pools are very popular among the students. The students choose the working hours which suit them, balancing work and study. There is also a lot of vacation and weekend work on the campus itself.

People in Britain can look for jobs in the Situations Vacant column of national or local newspapers. National newspapers such as «The Guardian» focus on different areas of employment such as media, education, social work and information technology on different days. Job vacancies are also displayed at Job Centres and other Employment Agencies in towns and cities and on the Internet.

Before applying for a job, you should check that you meet the requirements. These are usually specified in terms of previous experience, qualifications and personality. To show that you are a suitable candidate for the post, it is usual to enclose your curriculum vitae with your letter of application. There are many computer programs that will help you to produce a well designed and professional-looking curriculum vitae. If you make the right impression, you will be invited to an interview; otherwise you will probably receive a letter saying, «We regret to inform you that your application has been unsuccessful».

Vocabulary Bank

to apply to... for a job	обратиться куда-либо по поводу работы найма
job applicant	претендент на должность
application form	бланк заявления о приеме на работу
to fill in an application form	заполнить бланк заявления
«personal details» section	разделы «анкетные данные»
«education», «education background» section	«образование»
«work experience» section	«опыт работы»
«professional skills» section	«профессиональные навыки»
«additional skills» section	«дополнительные навыки»
«hobbies, interests» section	«любимое занятие, интересы»
«references» section	«рекомендации»
employment history	послужной список
length of service	стаж работы
curriculum vitae (CV)	резюме
promotion	продвижение по службе
recruitment service	служба найма на работу
training	стажировка
public relation	связи с общественностью

Exercises

Fiona Scott is one of the applicants for the job at Patagonia. Study her CV carefully to see how the information is presented and decide where each of the following headings should be placed.

references, interests, professional experience, education, personal details, additional skills

1....
Name:	Fiona Scott
Date of Birth:	7August 1969
Nationality:	British
Address:	5S Hanover Street Edinburgh EHS 5LM Scotland
Telephone:	031 449 0837
2....
1991–1992:	London Chamber of Commerce and Industry Diploma in Public Relations
1988–1991:	University of London BA (Honours) In Journalism and Media Studies (Class II)
1981–1988:	Fettes College, Edinburgh A-levels in German (A), English (B), History (B) and Geography (C)
3....
1992 to present:	Scottish Wildlife Trust Department of Public Relations Responsible for writing articles on all aspects of the Trust's activities and ensuring their distribution to the press. Editor of the Trust's monthly journal. In charge of relations with European environmental agencies.
Summers of 1990 and 1991:	Three-month training period with the Glasgow Herald. Assistant to the sports editor.
Summer of 1989:	Sales assistant in the record department of Harris Stores Ltd., Edinburgh.
4....
Sports: Cross-country skiing, rock-climbing and swimming.	Secretary of the local branch of «Action», an association organizing summer camps for disabled children.
5....
Camp counseling certificate	Grade 3 ski instructor
Driver's license (car and motorcycle)	IBM PC user
Fluent German and good working knowledge of French
6....
Geoffrey Williams, Professor of Journalism., University of London	Bill Denholm, Sports Editor, Glasgow Herald

Answer the following questions.

1. What country is Fiona Scott from?

2. How old is she?

3. What is her nationality?

4. Where did she get high education?

5. What higher learning institution did she graduate from?

6. Was she a good student?

7. What is her speciality?

8. Where did she work after leaving school?

9. What kind of training did she get and where?

10. What were her duties at Wild Life Trust?

11. What can you say about her additional skills?

12. What are her interests?

13. Who gave her references?

Unit 16. ABOUT INTERVIEWS

Once the company has obtained the resumes and completed forms of the candidates, the next step is to compare them. This can be a lengthy process, trying to match the attributes of the applicants to the post. Some CVs and forms will be discounted straight away because, for example:

• they are badly written, perhaps they have poor spelling and are

untidy;

• the applicant's qualifications may be inadequate for the post;

• the applicant may be too old or too young.

These applicants will be sent letters informing them that they were unsuccessful in their application. Of the CVs and application forms remaining a «short» list will be drawn up. This is a list of the applicants seen as best suited for the post. Letters will be sent to those listed, inviting them for interview on a certain date. At the same time the company will usually send for references.

The interview is the major way the companies assess whether a candidate is suitable for a particular post. It allows the company to make a judgment on:

• the candidate's personality (if he will fit into the company and be able to mix with the other staff);

• the ability of the candidate to communicate;

• whether the information on the CV or application form is correct.

It also gives the candidate the chance to find out more about the company, such as the working conditions, hours of work, pay and training.

Here are a few Do's and Don'ts for the interviewed:

1. Don't be late for the interview.

2. Be neatly dressed.

3. Listen to the questions asked attentively.

4. Don't be surprised by a few simple questions at the beginning such as, for example, how you travelled to the interview. Answer all the questions to the point.

5. Don't be too laconic in your answers.

6. Don't be afraid of giving your own views and opinions.

7. Be calm and polite during the interview.

Good luck to you!

Vocabulary Bank

lengthy	длительный
attribute	свойство, признак
to discount	отбрасывать, игнорировать
tidy untidy	опрятный неаккуратный
adequate	равнозначный
inadequate judgment on smth	неправильно судить о чем-либо
to mix	подходить, смешивать(ся)
calm	спокойный

Exercises

Read and translate an interview at an American company.

Alan Green: Thank you for coming, Mr. Oliveira. My name is Alan Green. I am in charge of Human Resources.

Mr. Oliveira: How do you do?

A. G.: Do have a seat. Now then. I see you are working for the Medilab at the moment. How long have you been there?

M. O.: Since 2001. It's a very interesting post, but I'm looking for something with more responsibility.

A. G.: So you are ready for a change?

M. O.: Yes. I feel I have come as far as I can at Medilab and I think it is time to do something different.

A. G.: And can your family move with you easily?

M. O.: Our children are small, so it's no problem for them to change schools. My wife is a nurse, so she can find work in another part of the country, or even in another country.

A. G.: What kind of salary are you looking for?

M. O.: At the moment, I earn $ 75,000 plus a car so I would like $ 90,000 plus a car if possible.

A. G.: That should be fine. Have you worked abroad?

M. O.: Yes. I worked In Argentine for two years. I'd like to have a chance to go abroad again.

A. G.: You also worked in Peru, I see.

M. O.: Oh, yes. That's true. It was about five years ago. We set up a vaccination program in villages in Peru.

A. G.: Really? And what languages can you speak?

M. O.: Portuguese is my mother tongue. I can also speak English, Spanish and a little Italian.

A. G.: I'm impressed. Some of our contracts are with Japanese companies. Can you speak Japanese?

M. O.: No, I can't but I can always learn.

A. G.: Never mind! I’m now going to introduce you to our Sales and Marketing Directors for more technical questions. I’ll see you later for some aptitude and language tests.

Write down all the information about Mr. Oliveira. The following may be of help.

1. Mr. Oliveira is Portuguese and he can speak …

2. He has got a wife and …

3. He is now working …

4. But at the same time he is looking for …

5. He would like …

6. He has sent his resume to …

7. At the interview...

Answer the following questions using the above dialogue.

1. How long has Mr. Oliveira worked for Medilab?

2. Who is interviewing Mr. Oliveira?

3. Is he ready to change his job? Why?

4. What kind of salary is he looking for?

5. Has he worked abroad?

6. Does he want to work abroad?

7. Is he ready to learn Japanese?

Open the brackets in the job interview using the verbs in the correct (tense) forms.

Interviewer: Good morning, Mr. Gray. How can we help you?

Mr. Gray: Well, I wonder if there (to be) any jobs available in your firm?

I.: What you (to know) of our company, Mr. Gray?

M. G.: Well, I know you (to be) one of the biggest soap manufacturers in the country.

Your firm (to be founded) 30 years ago, so you (to be) in business for 30 years. Well...

I.: What type of job (to want) you?

M. G.: I don't know.

I.: What firm you (to work) with at the moment?

M. G.: I'm the personal assistant to the head of the legal department of Cadnams.

I.: What it (to involve)?

M. G.: I work with documents and people.

I.: You (to have) anything to do with sales? How long you (to be) with them?

M. G.: I (to work) with them since I (to leave) University.

I.: And when (to be) that?

M. G.: Three years ago. I (to study) law.

I.: Why you (to go) to Cadnams?

M. G.: Well I don't really know. It (to seem) a good job.

I.: You (to speak) any foreign languages?

M. G.: Yes, I do. I (to speak) French and Italian. I (to spend) several years abroad when I (to be) younger.

I.: You (to drive)?

M. G.: Yes, I (to do).

I.: How much salary you (to get)?

M. G.: My present salary (to be) $ 1000 a month. I (cannot) accept less than that.

I.: I see. By the way, why you (to want) to leave?

M. G.: I don't get on with my boss.

5. Work in pairs. Make up your own dialogue «Job Interview». Imagine that Fiona Scott was invited for the interview at Patagonia.

Unit 17. ECONOMICS – WHAT IT IS ABOUT?

Economics was defined by the late Alfred Marshall, one of the great Victorian economists, as «the study of mankind in the everyday business of life». There are other definitions, but Marshalls definition draws attention to that unique feature of human society: that unlike other animals, man provides for his everyday needs by means of a complex pattern of production, distribution and exchange. Many of the words used by economists are very familiar to us. We know that economists talk and write about such topics as money, prices, wages, employment, taxes, exports and imports, earning and spending. Every day some economic problem or other is mentioned in the newspapers, on the radio and on the television. Economics is a science and part of our everyday lives, for:

• we live in an economic system;

• every day we take part in economic activities;

• we are familiar with the words used by economists.

Economics is about economizing, that is, «making the most of what

we have». For the individual, this means using one's abilities and

spending one's income in the way that gives the most satisfaction or

benefit.

For the community as a whole, it means using the people's skills and energies, the land, the buildings, the machinery and the other economic resources so as to obtain the highest possible standards of living.

The common element in all these decisions is that every choice involves a cost.

In fact, economics is the study of the choice that people make and the actions that they take in order to make the best use of scare resources in meeting their wants.

Vocabulary Bank

economics	экономика
to be familiar with	знать (что-либо), быть в курсе (чего-либо)
wages	зарплата рабочих
salary	зарплата служащих
that is	то есть
to make the most of	использовать наилучшим образом
to mean	значить
ability	способность
income	доход(ы)
to satisfy satisfaction	удовлетворять удовлетворение
benefit	выгода
community	объединение, сообщество, группа людей, объединенных какими-либо признаками
as a whole	в целом
skill	умение, мастерство
to obtain standard of living	получать, приобретать жизненный уровень
cost	стоимость
in order to	для того, чтобы
to meet wants	удовлетворять потребности

Exercises

Answer the following questions.

1. How was economics defined by A. Marshall?

2. What was A. Marshall?

3. Are many words used by economists very familiar to us?

4. What do economists talk and write about?

5. How often are economic problems mentioned in the newspapers, on the radio and on the television?

6. What is economics about?

7. What does it mean for the individual?

8. Every choice involves a cost, doesn't it?

Find out the Russian equivalents.

1) a choice or judgment;

2) a small amount, a part of a whole;

3) being the only one of its sort;

4) the state of being pleased or contented;

5) sum of money, paid by citizens to the government for public services;

6) to signify;

7) to pay out money for goods, services, etc.

Make the following sentences negative and interrogative.

1. Every day we take part in economic activities.

2. There are other definitions of economics.

3. A man provides for his everyday needs by means of a complex pattern of production, distribution and exchange.

4. We live in economic system.

5. Economists talk and write about money, prices, wages, taxes, etc.

Unit 18. THE FACTORS OF PRODUCTION

Traditionally, production means a creation of services or the changing the materials into products. Economic resources comprise human beings and all the things they use to produce the goods and services which people want. In economics, these resources are described as factors of production. They are often classified into three main groups: natural, human and manufactured.

Natural resources are the resources provided by nature and not by human beings. The word land is used to describe the gifts of nature.

Human resources consist of the energies, skills and knowledge of the working population. These resources are described as labour.

The word capital is used to describe manufactured resources. They consist of such things as factories, machines, railway, roads, power stations, docks and so on.

Many economists include a fourth factor of production – the entrepreneur. This is the person (or persons) who organizes land, labour and capital into units of production. These units of production are described as firms.

Vocabulary Bank

to comprise	включать, содержать
human being	человек
main	главный
gift	подарок
knowledge	знания
labour (Am. labor)	труд
railway	железная дорога
road	дорога, путь
entrepreneur	предприниматель
to bring together	свести вместе

Exercises

Answer the following questions.

1. What does production mean?

2. What comprises human beings and all the things they use to produce the goods and services?

3. How are the factors of production classified?

4. Are natural resources provided by nature or by human beings?

5. What do human resources consist of?

6. What do manufactured resources consist of?

7. What is an entrepreneur?

8. What does he organize into units of production?

Match the English verbs with their Russian equivalents.

tо comprise	использовать
to produce	обозначать, значить
to use	обеспечивать
to provide	включать, содержать
to describe	организовывать
to consist	хотеть
to want	описывать
to organize	производить
to mean	состоять

Open the brackets and put the verb in the correct tense form.

1. Every day this plant (to produce) a lot of equipment.

2. Yesterday the foreign delegation (to arrive) at this factory.

3. This firm (just, to produce) a new model of this car.

4. Yesterday at 2 p. m. the director of this company (to sign) the documents.

5. Tomorrow at 5 p. m. we (to test) a new model of this plane.

6. Next year this factory (to receive) a lot of enquiries for its goods.

7. The company (to conclude, already) 4 contracts with the foreign partners.

Unit 19. PRODUCTION, EXCHANGE AND CONSUMPTION

Every day we can see people carrying out economic activities. They are taking place in houses, shops, offices, factories and banks, on farms, on building sites, and so on. The study of this great variety of activities is made much easier by classifying them into three main types of activity – production, consumption and exchange.

The word production is usually taken to mean the making of some physical object, such as a motor car, a piece of furniture or a pair of shoes, or the growing of some particular crop, such as wheat or potatoes.

In economics, however, the word «production» has а wider meaning. Production takes place so that people's wants can be satisfied. Any kind of work which helps to satisfy people's wants, and for which they are prepared to pay a price, is productive work.

Production, therefore, includes the output of services as well of goods. Service industries cover wholesaling, retailing, banking, insurance, accountancy, transport, the law, education, health, entertainment, etc.

There are two types of consumer goods: durable goods and non-durable goods. Durable consumer goods have a fairly long life – many of them last for several years. They include such items as household furniture, domestic appliances and the family car. Non-durable consumer goods are commodities which are used up immediately (i. e. in a single use) or in a relatively short period of time. Food, drinks, soap and toothpaste are obvious examples of non-durable consumer goods.

There is a system that enables people to exchange what they produce for the goods and services produced by other people. This system of exchange depends on the use of money. What happens is that people sell their services for money (wages and salaries), and then use this money to buy the things which others have produced.

Consumption means the using up of goods and services in order to satisfy our wants.

Vocabulary Bank

exchange	обмен
to exchange	обменивать(ся)
consumption to consume	потребление, расход потреблять, расходовать
to carry out	выполнять, осуществлять
site	участок, площадка
and so on	и так далее
particular	специальный, особенный, особый
to be prepared for	быть готовым к
to pay	платить
as well as	также как и, а также
to cover	включать, покрывать, страховать
to insure	страховать
insurance	страхование
the law	закон; юриспруденция
entertainment	развлечение
durable	длительный, длительного пользования
fairly	довольно, в известной степени
item	предмет, изделие; пункт, параграф, статья
household	домашнее хозяйство, семья, домашний
appliance	прибор
commodity	товар
relatively	относительно
obvious	очевидный
to depend on	зависеть от

Exercises

Answer the following questions using the text.

1. What are the three main types of economic activities?

2. What does «production» mean for the economist?

3. What is called «productive work»?

4. Are there many service industries? What are they?

5. Is there much difference between durable and non-durable commodities? Give a few examples.

6. What is the meaning of «consumption»?

Find the English equivalents in the text.

1. И получается, что люди продают свои услуги за деньги.

2. Они используют эти деньги для покупки того, что произвели

другие.

3. Существует система, которая позволяет обменивать...

4. Изучение этого огромного разнообразия видов деятельности становится намного легче благодаря...

5. Это слово имеет намного более широкое значение.

Match and translate the synonyms.

1) goods	a) a lot of
2) building	b) thing
3) object	c) commodity
4) wants	d) household
5) output	e) construction
6) fairly	f) needs
7) many	g) production
8) domestic	h) rather

Translate into English and make sentences using these word combinations.

Экономическая деятельность, сельскохозяйственная культура, удовлетворять запросы людей, оптовая и розничная торговля, товары длительного пользования, банковские услуги, бухгалтерское дело, страхование, юриспруденция.

Unit 20. WHAT IS BUSINESS?

Business is a word which is commonly used in many different languages. But exactly what does it mean? The concepts and activities of business have increased in modem times. Traditionally, business simply meant exchange or trade for things people wanted or needed. Today it has a more technical definition. One definition of business is the production, distribution, and sale of goods and services for a profit. To examine this definition, we will look at its various parts.

First, production is a creation of services or the changing of materials into products. One example is the conversion of iron ore into metal car parts. Next these products need to be moved from the factory to the marketplace. This is known as distribution. A car might be moved from a factory in Detroit to a car dealership in Miami.

Third is the sale of goods and services. Sale is the exchange of a product or service for money. A car is sold to someone in exchange for money. Goods are products which people either need or want; for example, car can be classified as goods. On the other hand, services are activities which a person or group performs for another person or organization. For instance, a motor mechanic performs a service when he repairs a car. A doctor also performs a service by taking care of people when they are sick.

Business, then, is a combination of all these activities: production, distribution, and sale. However, there is one other important factor. This factor is the creation of profit or economic surplus. A major goal in the functioning of an American business company is making a profit. Profit is the money that remains after all the expenses are paid. Creating an economic surplus or profit is, therefore, a primary goal of business activity.

Vocabulary Bank

exactly	точно
definition	определение
distribution	распределение
creation	создание
activities	деятельность
to perform	выполнять
to repair	чинить, ремонтировать
surplus	излишек, остаток
profit	прибыль, излишек
expense	расход
expenses	издержки
goal	цель

Exercises

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