Ex.2. Complete these sentences using the correct form (Past Simple or Past Continuous) of the verbs in brackets.

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1. While my brother (study) for his exam, I (translate) a newspaper article into Ukrainian.

2. Tom (write) a letter to his family when his pencil (break).

3. When I (clean) the house, I (find) some old letters.

4. The doorbell (ring) while I (have) a bath.

5. They (build) a new bank when I (be) there last year.

6. My friend (own) this company but the state (buy) it and (bring) into public sector.

7. I (phone) my parents when the door bell (ring).

8. We (not hear) the phone because we (sing).

9. During his visit to Switzerland he (go) skiing every weekend.

10. While he (watch) television he (hear) a loud cry for help.

11. They (establish) the company in the 1990s.

12. When the phone rang, I (talk) to a client.

Ex.3. True or false? Correct where necessary.

1. As a child I never was staying up later than ten o’clock.

2. He was probably working in the office when we rang.

3. She talked to someone on the phone when I came.

4. I tried to learn the rule while someone outside played the guitar.

5. French hypermarket companies were beginning their operations in the Spanish retail sector.

6. Public sector pay was rising by only 3 per cent last year.

7. Analysts predicted continued growth in the service sector last month.

8. Many people in the private sector were having to take very low pay increase last year.

9. With a degree in business studies, she was hoping to find work in a multinational corporation.

10. In an effort to improve its image, the company launched a new public relations campaign.

Ex.4. Translate into English.

1. Вони дивилися телевізійну програму, коли прийшла мати і розповіла їм багато цікавої інформації.

2. Англія закупила товарів на ₤ 2 мільйони в минулому місяці.

3. Він не виконав роботу вчасно і тому залишився в офісі після роботи.

4. Його родина приватизувала декілька великих магазинів нашого міста два роки тому.

5. Він припинив постачання обладнання для нашого заводу ще у минулому році.

6. Вона прилетіла в Київ о десятій годині ранку і одразу зателефонувала на фірму.

7. Поки вона вчилась на менеджера, вони ліквідували її фірму.

8. Коли вони почали розширювати свій бізнес, вона була володаркою власної корпорації.

9. Ми добре навчилися задовольняти потреби наших клієнтів, коли намагалися стати лідером у секторі послуг.

10. Коли він постачав вам сировинні матеріали, він переслідував свої власні інтереси.

11. Ми обговорювали наші плани щодо розширення бізнесу, коли зателефонував наш клієнт.

12. Я не знаю, хто заснував цю компанію.

Speech and Discussion

Ex.1. Talk to your groupmate:

s Which is the most interesting to work in:

a manufacturing sector, a service sector.

s Choose one of the sectors and speak about the advantages and the disadvantages of working there.

Ex.2. If you were to choose where to work, would you prefer a public sector or a private sector? Why?

Ex.3. Discuss with your groupmates the advantages and disadvantages of:

s privatization

s nationalization

Ex.4. Familiarize yourself with the following idioms. Consult your dictionary and translate the sentences into Ukrainian. Think of situations where you could use them.

1. We would manage much better without the help of backseat drivers like Williams.

2. This business could be a gold mine if it were properly developed.

3. If you think Walsh will ever repay you, you are mistaken; I’m afraid you’ve put your money on the wrong horse.

4. We are in deep water; we may have to sell the shop to pay our debts.

5. Peter has blued all the money you gave him on gambling and drink.

Ex.5. Comment on the proverb:

“In giving a man receives more than he gives.”


Text: Ownership

Grammar: Present Perfect Simple

Terms to remember:

join (v) ™ об’єднуватися, приєднуватися
purpose ™ мета
unlimited liability company ™ компанія з необмеженою відповідальністю
limited liability company ™ компанія з обмеженою відповідальністю
be liable for ™ бути відповідальним за
debt ™ борг; зобов’язання
assets ™ майно, активи
sole trader/sole proprietorship ™ одноосібна власність
partnership/general partnership ™ товариство
private limited company (BrE) /limited liability company (AmE) ™ закрита акціонерна компанія
public limited company (BrE)/listed company (AmE) ™ відкрита акціонерна компанія з обмеженою відповідальністю
shareholder ™ акціонер
share ™ акція
wealth ™ матеріальні цінності, багатство
offer (v) ™ пропонувати
public ™ громадськість
stock exchange ™ фондова біржа


A business is an organization of material, human, financial, and information resources that are joined together for a specific purpose. Not all businesses are owned and organized in the same way.

In unlimited liability companies the owners are personally and entirely liable for the debts of the company. This means they may lose their personal assets (e.g., their house or their car) if the company is in financial difficulties.

In a limited liability company (Ltd.) the owners are liable only for the amount of money they have invested in the business.

Unlimited liability companies are subdivided into sole traders (BrE)/sole proprietorship (AmE) (a type of business organization owned and run by one person) and partnerships (BrE)/general partnerships(AmE) (a firm run by two or more partners). A lot of professional people like lawyers, accountants and so on, work in partnerships.

Limited liability companies are subdivided into private limited companies (Ltd) (BrE)/limited liability companies (AmE) and public limited companies (PLC) (BrE)/listed companies (AmE). A private limited company/limited liability company is a company which has shareholders (people who own the wealth of a company) but which cannot offer its shares to the public.

A public-limited company/listed company is a company whose shares can be bought and sold (publicly traded) on the stock exchange.

Notes: A public limited company is privately owned. It is not run by the state.

Exercises in Word Study

Ex.1. Form adjectives from the following nouns:

organization, material, finance, information, purpose, specification, wealth, liability, owner, person, difficulty.

Ex.2. Give the English for:

фінансові та інформаційні ресурси, компанія з необмеженою відповідальністю, власник, бути повністю відповідальним за борги компанії, втрачати власне майно, фінансові труднощі, компанія з обмеженою відповідальністю, одноосібна власність, товариство, закрита акціонерна компанія, відкрита акціонерна компанія з обмеженою відповідальністю, акціонер, пропонувати акції, продавати акції на фондовій біржі.

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