B: Matching

Date: 2015-10-07; view: 451.

A: Study the sentences below in which the underlined words are explained by the context.

1. Business is the activity of making and distributing goods and services.

2. Land refers to the sources of raw materials needed for production.

3. Labor is the use of mental or physical work to produce goods.

4. Capital means not only wealth, but all the things that workers use in production and distribution which are purchased with money.

5. Entrepreneurship is the activity of controlling and directing the other three factors.

6. The money that he makes is the profit.

7. If the money he receives is not enough to pay for all the costs, the difference is a loss.

8. When a company goes bankrupt, it is unable to pay its debts.

9. An innovative company is one which continues to provide new goods and services.

10. The entrepreneur initiates business activity by bringing together land, labor, and capital to begin a new business venture.

Match the words below with the definition indicated by the sentences above. Write the number of the word on the line before the definition.

1. initiate ____ a . something which must be paid

2. profit ____ b . having new products and ideas

3. labor ____ с . begin new business activity

4. business ____ d . person who directs the business

5. innovative ____ e . land

6. entrepreneur ____ f . what workers provide

7. raw materials ____ g a business activity

8. venture ____ h money the entrepreneur receives

9. loss ____ i money which buys machines and tools

10. capital ____ j products

11. goods ____ k things which business provides in addition to goods

12. services ____ l describes a company with not enough money and too many debts

13. bankrupt ____ m the result of expenses being more than sales

14. company ____ n the activity of producing goods

15. debt ____ o a business