What is business?

Date: 2015-10-07; view: 371.

TEXT 1

UNIT 1

V. Write the parts of the following sentences that are being left out or replaced.

Example: There are many important lessons in life. Learning about the value of money is one of them. One of the most important lessons in life

1. Tony bought a new car whereas Mike purchased a second-hand one. ……….

2. Students often end up borrowing more money than they can afford. Such actionsshould be avoided if they want to avoid large sums of debt. …………

3. Jane called Mary. She did so to check that she was OK. ………..

4. I looked after my sisters when they were young. I continue to do so even though they are not any more. ………

5. I read novels for pleasure but journals for facts………….

6. Finding a job is much more difficult nowadays than itwas in the past………

7. Some people say that education should be free for all though others criticize such ideas as unrealistic…………

8. Although I wanted to finish this earlier, I was not able to do so………..

Business is not an easy thing. It's rather a difficult kind of human activity. It has many important elements such as money, taxes, customers, transport, banks and others. There are two general types of business: small business and big business.

Why do people do business? Why do they like small business? People do business by producing goods or providing services. They buy and sell goods. They do business for a profit. There is no business without a profit.

Production of goods is very profitable, provision of different services is profitable too. Communications are a good business too, for example, telephone, telegraph and mail services. Financial services, for example, banking and insurance, work very well, too.

So, people do different types of business for a profit. Doing business has become very popular everywhere. For example, the whole families in America run small businesses now. At present it is very popular to be a businessman or a businesswoman. It should be noted that women, like men, successfully run a firm or a company, they prove to be good bank managers or shop keepers.

Briefly speaking, doing business is a comparatively new and perspective tendency in modern life.

There are three main types of business: a sole trader (you alone have responsibility for the business and you take all profits after paying income tax on them); a partnership (a group of between two or twenty people trade, as one firm, and share responsibility for debts, decision-making and the profits); a limited company/Ltd./ (a company formed by two or more shareholders who put money into the business in return for a share of the profits).