Ex.18. Read the following aphorisms and sayings. Use some of them in preparing an essay on small business.

*The aim of all legitimate business is service, for profit, at a risk.

Benjamin C. Leeming

*The secret of business is to know something that nobody else knows.

Aristotle Onassis

*Good luck is a lazy man’s estimate of a worker’s success.

H.I Menken

*A wise man ought to have money in his head, but not in his heart.

Jonathan Swift

*When money is not a servant, it is a master.

Italian proverb

*Cooperation is spelt with two letters – WE.

George M. Verity

*A friendship founded on business is better than a business founded on friendship.

John Rockefeller

*When two men in business always agree, one of them is unnecessary.

William J. Wrigley

*Instead of crying over spilt milk, go milk another cow.

Erna Asp

Legal forms of business: LIMITED COMPANY (CORPORATION).

Introduction to the Topic.

Ex.1. Read the text. Think about the word combination “business population”. Answer the following questions.

1) What does the table illustrate?

2) What forms of business are in the majority?

3) Which businesses produce the greatest wealth? How is it proved?

4) Can you explain that fact?

The business population in the U.S.A. is extremely diverse, ranging from giant corporations like General Motors to small specialty shops and groceries with only one or two employees.

Economic analysis, however, makes clear the dominant role of huge corporations as providers of income and jobs. Consider, for example, 800 of the largest firms in the American economy. Although these 800 firms comprise only 1/100 of per cent of the nation’s business population, they have total assets equal to about one half of the nation’s total wealth. In addition, those 800 corporate giants employ approximately one-fourth of the labor force. Speaking more generally, the corporations, constituting only 18 per cent of the business population, produce about 9/10 of the total business output.

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