РАЗДЕЛ 4. Микроэкономика. Бизнес компании

UNIT 4. Microeconomics. Company business

Text 13.

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TYPES OF BUSINESSES IN THE UNITED KINGDOM

Most businesses in the United Kingdom operate in one of the following ways: sole trader, partnership, limited liability company, branch of a foreign company.

The sole traderis the oldest form of business. There are many one-man owners, for example: a doctor, a lawyer, a real estate agent, builder, hairdresser etc.

The partnershipis a company where there are a few partners. They are firms of lawyers, architects, auditors, management consultants etc. The names of all the partners of the firm are printed on the stationery of a partnership.

The most common type of company in the United Kingdom is the limited liability company. At the end of the name of such a company the word Ltd. is used. For example: Wilson and Son Ltd.

Many of such companies are joint-stock companies owned by shareholders.

Limited liability companies are divided into public and private ones. Only public companies may offer shares to the public at the stock exchange. The names of such companies end in p.l.c. which stands for public limited company. For instance: John and Michael p.l.c.

Private limited companies may not offer shares to the public. The names of such companies end simply in Ltd.

A branch of a foreign companyis a part of a company incorporated outside Great Britain but acting under the law of the U.K. Usually these companies act in the U.K. under their normal foreign names.

1. Ответьте на вопросы по тексту:

1. What is the most common type of company in the U.K.?

2. Are all limited liability companies joint-stock companie ?

3. What can you say about the types of the following companies: Fine Furniture Ltd., General Foods p.l.c.

2. Найдите в тексте эквиваленты слов и выражений профессионально-ориентированной лексики:

Sole trader, farmer, garage man, joint-stock limited liability company,

private limited liability company, a company acting under the British law.

3. Заполните пропуски словами из текста

1. The names of … …of the firm are printed on the stationery of a partnership.

2. The names of such companies … simply in Ltd.

3. Many of such companies are joint-stock companies … by shareholders.

Text 14.

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FORMS OF BUSINESSES IN THE USA

Businesses in the U.S.A. may be organized in one of the following forms: individual business, general partnership, limited partnership, corporation, alien corporation.

An individual businessis owned by one person.

A general partnershiphas got several owners. They all are liable for debts and they share in the profits.

A limited partnershiphas got at least one general owner and one or more other owners. They have only a limited investment and a limited liability.

A corporationis owned by persons, called stockholders. The stockholders usually have certificates showing the number of shares which they own. The stockholders elect a director or directors to operate the corporation. Most corporations are closed corporations, with only a few stockholders. Other corporations are owned by many stockholders who buy and sell their shares at will. Usually they have little interest in management of the corporations.

Alien corporations are corporations of foreign countries.

All the corporations are to receive their charters from the state authorities. The charters state all the powers of the corporation. Many corporations try to receive their charters from the authorities of the State of Delaware, though they operate in other states. They prefer the State of Delaware because the laws are liberal there and the taxation is rather low. Such corporations, which receive their charters from an outside state, are called foreign corporations.

All the corporations require a certificate to do business in the state where they prefer to operate.

1.Скажите, что говорится в тексте о:

Text 15.

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PANASONIC

The Panasonic Corporation is a Japanese multinational consumer electronics corporation. It is based in Osaka, Japan. It specializes in electronics manufacturing and produces goods under a variety of names including Panasonic and Technics.

Panasonic started in 1918 first selling duplex lamp sockets. It operated factories in Japan and other parts of Asia through the end of World War II. Today it is one of the largest electronics manufacturers in the world, along with its main competitors Sony and Toshiba, with annual sales of about $ 114 billion. There are currently more than 630 companies including the parent company and its subsidiaries. 366,937 employees work for the corporation worldwide.

Panasonic consists of 14 business domain companies. Each company has its own production and sales divisions that respond to its own business segment, such as home appliances, office equipment, healthcare products, industrial equipment, original equipment for automobile brands such as Toyota, Honda and Subaru, and other electronic and consumer products. The photographic cameras launched by Panasonic are still on top along with other giants like Sony, and their professional cameras are the best.

In addition to electronics, Panasonic offers non-electronic products and services such as home renovation services.

1.Скажите, что обозначают следующие числительные:

14 630 1918 366,937 114 billion

2.Соотнесите слова из текста и их определения:

1.consumer a) the necessary tools, clothing etc. for a particular purpose

2.variety b) repair and improvement of a building

3.worldwide c) a separate part of a large organization

4. domain d) in all parts of the world

5. division e) an electrical machine that is used in the house

6. segment f) a person who buys goods or services

7. home appliance g) an area of interest

8. equipment h) introduce something new e.g. a product

9. launch i) a part of something

10. renovation j) difference in quality, type or difference

3.Заполните пропуски подходящими словами из рамки:

Consists of ● extensive renovations ● goods ● business segment ● multinational ● equipment● division, variety ● business domains ● provide services ● launched ● home appliances ● respond to

1. The shop sells a large………..of……….from TV-sets to washing machines to electronic clocks.

2. Having 30 % of the market, the company is the leader in its………. .

3. Panasonic is a large……….corporation operating all over the world.

4. The corporation……….. ……….. 630 companies which ………. a number of……….. ………. according to their main activities.

5. The advertising ……… has……….. a new brand of breakfast cereals onto the market. The brand is a big success.

6. The company’s head office is located in an old historical building which needs extensive ………… .

7. We produce industrial………for car manufacturers and……….after­-sale ………… .

8. The retailer offers a 25% discount on all electrical……….until the end of the week.

4. Ответьте на вопросы по тексту:

1. What kind of company is the Panasonic Corporation?

2. What does it produce?

3. Where is its head office?

4. Where does Panasonic operate?

5. What is the company’s structure? Which business domains is it active in?

6. What are the company’s main competitors?

Задание 8. Ниже приводятся профили компаний. Расскажите об одной из них, используя информацию из таблицы.

Text 16.

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PROFIT

“Profit” in everyday life means advantage or good obtained from something. Besides, it can mean money gained in business.

“Profit” for an accountant means simply the difference between total receipts and total costs. For the economist “profit” has a much wider meaning. It is the revenue derived from the use of resources minus the opportunity cost of using those resources.

The economist attaches a cost to the use of retained earnings, since they could have yielded revenues if used outside the business. Besides, the economist would value the time of owner managers in accordance with what they could have earned outside the business.

Profit is derived by selling a product for more than the cost required to produce or acquire it. Some consider the pursuit of profit to be the essence of capitalism.

Opponents of capitalism often protest that private owners of capital do not remunerate laborers the full value of their production but keep a portion as profit, claiming this to be exploitative. However, defenders of capitalism argue that when a worker is paid the wage for which he agreed to work, there is no exploitation, especially in a free market where no one else is making an offer more desirable to the worker; that "the full value of a worker's production" is based on his work, not on how much profit is created.

1. Ответьте на вопросы по тексту:

1. What is profit?

2. What is profit for an accountant?

3. What does an economist take into account to calculate profit?

4. What is essential characteristic of capitalism?

5. What do opponents of capitalism protest about?

2. Найдите в тексте эквиваленты слов и выражений профессионально-ориентированной лексики:

Прибыль, различные понятия прибыли, полученная выручка, получение прибыли, реализация прибыли, продажа продукта, частные собственники, полная стоимость, заработная плата.

Text 17.

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TAXATION AND TAX SYSTEM

Taxation is the process by which the people pay the expenses of carrying on the government. Many kinds of taxes are used in the world. The main taxes can be divided into taxes paid on income and capital, called “direct” taxes and those paid when money is spent, called “indirect” taxes. Indirect taxes are paid on goods and services.

The taxes are paid by the shops or manufactures, but then passed on to the consumers in the form of higher prices. The advantage of this tax is that it is directly in line with inflation. If the prices rise, so does the tax.

TAX a rate or sum of money levied upon assets or real property (property tax), or income derived from wages, etc. (income tax), or upon the sale or purchase of goods (sales tax).

VALUE ADDED TAX is a tax imposed upon the difference between the cost of an asset to the taxpayer and the present fair market value of such asset; a tax based on a percentage of the value of the property subject to taxation, as opposed to a specific tax, which is a fixed sum applied to all of a certain class of articles.

INCOME TAX is imposed upon income received which is recognized for tax purposes by the taxpayers, reduced by the allowable deduction and credits.

PROPERTY TAX generally, tax imposed by municipalities upon owners of property within their jurisdiction based upon the value of such property.

SALES TAX a tax generally imposed by state or local government on the sale of certain items that are generally not for resale.

UNIFIED ESTATE AND GIFT TAX in the USA a federal tax imposed upon the net value of an estate and on gifts of certain amounts. The transferor is liable for the gift taxes but if the transferor fails to pay the gift tax, the transferee may be held liable for its payment.

1. Ответьте на вопросы по тексту:

1. What is a tax?

2. What is Value Added Tax imposed upon?

3. What Income Tax imposed upon?

4. What tax is paid based upon the value of property?

5. What happens if the transferor fails to pay the gift tax?

2. Найдите в тексте эквиваленты слов и выражений профессионально-ориентированной лексики:

Налог, сумма денег, взимаемая с…, налог на доход, налог на собственность, налог с продаж, налог на добавленную стоимость, налог накладывается на…, рыночная стоимость, налогоплательщик, владельцы собственности, единый налог на наследование и дарение.

Text 18.

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TAXES IN THE UK

Companies pay corporation taxes nine months after the end of the accounting period. Corporation taxes are charged for a financial year (also called fiscal year) which runs from 1 April to the following 31 March.

Income tax and capital gains tax are charged for a tax year, or year of assessment.

Individuals usually pay taxes in two equal installments on 1 January and 1 July. Usually taxpayers are given 30 days to pay from the date of issue of an assessment.

Employees pay taxes in a different way. When an employee takes a new job he has to give his new employer his P.45. This is a document which shows the employee's tax coding and the amount of tax he has paid so far in the tax year.

Employees are taxed under PAYE system which means Pay as You Earn. Every employee has the tax deducted weekly or monthly. The deductions are calculated by reference to the employee's tax coding. This information is supplied to the employer by the tax office.

1. Ответьте на вопросы по тексту:

1. What are direct and indirect taxes?

2. What is a fiscal year? How long is it?

3. What taxes are paid by corporations?

4. What taxes are paid by employees?

5. What is P.45?

2. Найдите в тексте эквиваленты слов и выражений профессионально-ориентированной лексики:

Налогообложение; оплачивать расход; налоги платятся с дохода, корпоративный налог, после окончания отчетного периода, налоги взимаются за финансовый год, налог на доход, работники, налоговый код, вычитаемый налог, вычеты рассчитываются, налоговый орган.

3. Расскажите, используя профессионально-орентированную лексику, что говорится в тексте о:

Taxation, direct taxes, indirect taxes, higher prices, income tax, P.45.

Text 19.

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