Продвинутый уровень

1). Сарital is something created by people to produce other goods and services. A factory, tools and machines are capital resources because they can be used to produce other goods and services. There are capital goods and consumer goods. Capital goods are the manufactured resources that are used in producing finished products. Consumer goods are the finished products – the goods and services that consumers buy.

2). Sole proprietorship is a business owned and controlled by one person. A single person who owns and runs a business is known as a sole proprietor. Sole proprietorship is the oldest, simplest, and most common of all types of businesses. Because the financial resources available to one person often are limited, sole proprietorships are enterprises that require small amounts of capital to start and operate. Many doctors, dentists, lawyers, and bakers organize as sole proprietors to provide professional services.

3). Partnership is a business that is owned and controlled by two or more people. As in the case of sole proprietorships, partnership is a business that requires relatively small amounts of money to start and operate. A partnership begins when two or more people agree to operate a business together. Partnership can be general or limited. In order to avoid later conflicts, the partners usually formulate a written agreement called a partnership contract. A partnership contract distributes all profits and losses.

4). Corporation is a business organization that is owned by shareholders (i.e. the individuals who invest in it by buying shares of stock). Often hundreds and even thousands of small investors own the shares in a single corporation. That is why the owners elect a board of directors. The board of directors hires individuals to manage the corporation. These individuals include the president and other administrators of the company.

5). International trade is exchange of capital, goods, and services across international borders or territories. Industrialization, transportation, and globalization influence the international trade system. Depending on what a country produces and needs, it can export (sell goods to another country) and import (buy goods from another country). The main difference between international trade and domestic trade is that governments control international trade by means of tariffs (or duties) and quotas.

6). Two basic concepts describe the process of international trade – the concept of specialization and the concept of economic interdependence. The concept of specialization described in Ricardian model focuses on comparative advantage, when countries specialize in producing what they produce best. Economic interdependence means that the distribution of resources often gives a nation an absolute advantage in the production of a particular product. One nation can produce a product at a lower cost than a second nation.

7). A market can be defined as any form of contact between buyers and sellers for the purpose of buying and selling goods and services. Markets can be local, national and international. Markets always have two sides: the demand side and the supply side. The supply side is represented by sellers and the goods and services they wish to sell. The demand side of the market is composed of buyers wishing to acquire goods and services. Consumers use different means of payment, e.g. cash (paper money and coins), checks, credit cards, and etc.

8). Market research involves studying the market to find out what the customer really wants. Primary information is not already available. To collect this information a firm has to question consumers directly about their tastes and preferences. This method is also called field research. Secondary information is information that is already available to the firm. It can come from a variety of sources, such as government statistics, business and trade publications. Collecting information this way is called desk research.

9). When a company starts to sell goods in a new market, they often do some market research. One way to study the market is to take part in a Trade Fair where companies can exhibit samples of their products and see what response they get from customers. The Trade Fair is an exhibition of goods, and a company exhibits a sample of its product at its stand. This is also a form of publicity (or advertising) and the company representative can hand out brochures to promote the product further.

10). Promoting a new product is to place advertisements in magazines or newspapers. The aim of promotion is to interest customers, clients or buyers in the product. When they decide to buy, customers place an order. At a Trade Fair companies are trying to get as many orders as possible. However, before a client places an order he wants to know many things: how long delivery takes, whether the company can supply spare parts, what the after sales service is like.

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