Part 2 New Business

LEAD-IN

I. What conditions are important for people starting new businesses? Choose the three most important from this list. Can you think of any others?

· Low taxes · Skilled staff · Low interest rates · Cheap rents · Stable economy

· Good transport links · Training courses · High unemployment · A strong currency · Government grants

II. Many economies contain a mix of public and private sector businesses.

Think of the companies you know in the areas given in the list. Which of them are public sector companies and which are private sector companies?

· post office · TV/newspapers · energy · cars

· rail · water · telecoms · airlines

BUILD YOUR VOCABULARY

I. Match the terms 1-10 to their definitions a-j.

1. interest rate 2. exchange rate 3. inflation rate 4. labour force 5. government bureaucracy 6. GDP 7. unemployment rate 8. foreign investment 9. tax incentives 10. balance of trade

a. total value of goods and services produces in a country b. general increase in prices c. cost of borrowing money d. price at which one currency can buy another e. percentage of people without jobs f. people working g. low taxes to encourage business activity h. money from overseas i. official rules/regulations/paperwork j. difference in value between a country’s imports and exports

II. Complete the economic profile. Don’t look back at the terms in task I.

The economy is stable following the problems of the past two years. By following a tight monetary policy the government has reduced the inflation rate to 2%. After going up dramatically, the i… r… is now down to 8%. The last six months has seen an improvement in the e… r… against the dollar. The G… has grown by 0.15%. Exports are increasing and the b… of t… is starting to look much healthier. The u… r… continues to be a problem as it is still 16%. In order to stimulate the economy and attract g…i… the government is offering new t… i… as well as making an effort to reduce g… b… . Finally, a large skilled l… f… means there could be attractive investment opportunities over the next five years.

GRAMMAR REVIEW 2

Noun Combinations

We can combine two or more nouns in several ways.

· ‘s possessiveJulia’s desk

· one noun used as an adjectivehead office

· phrases with of Director of Communications

· compound nouns forming one wordboardroom

I. Match these examples with the categories above.

customer satisfaction way of life salesperson Coca-Cola’s logo

<== попередня сторінка	\|	наступна сторінка ==>
Background	\|	II. Underline the most suitable noun combination in each group.

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