WHAT IS BUSINESS

WHAT IS BUSINESS?

In recent years, Western countries have been going through major changes. After a period of 25 yeas following World War II in which these countries enjoyed unprecedented growth and prosperity, some economic difficulties appeared in the 70's and early 80's .Though some of these difficulties now seemed to have lessened, people no longer feel assured of the living standards their parents took for granted .Besides these difficulties, a speedy development of technological progress has brought forth some undreamed-of amusements and conveniences : robots, video recorders, 'smart' telephones' computers, that flash information on displays in seconds.

These changes have affected to a great extent traditional ways of running business. Managers have been forced to adopt new techniques, to tighten financial controls and sometimes even to close plants or cut jobs. More than ever, people are wondering nowadays what the social responsibility of business is to the society it operates in.

Is making profits the only goal of businesses? Should businesses strive for the achievement of some other goals as well-such as environmental protection or fairness to consumers?

In a traditional and very broad sense, we can define business as all the work involved in providing people with goods and services for a profit. Defined as such, business implies an enormous variety of tasks.

Text comprehension

1) Answer the following questions

a) How can you define profit?

b) How can you define business?

c) What are the goals of businesses?

d) What are the benefits of competition in a free- market economic system ?

e) How can demand and supply affect prices?

2. Give synonyms for the following words : profit , company, entrepreneur, to supply , to lesssen , to boost, purchase foundation , to strive ,to demand

Basic Vocabulary

achievement  = realizare

to boost = a dezvolta rapid

goal = tel, scop

economic growth = crestere economica

to lessen = a micsora, a scadea

supply = oferta

demand = cerere

business= afacere , firma (mica)

profit and loss = profit si pierdere

environment = mediu inconjurator

to purchase = a cumpara, a achizitiona

to run a business = a conduce o afacere

to tighten = a strange

labour market = piata fortei de munca

Speaking and Writing Topics

Speak about the advantages and disadvantages of a market

economy

Influences of the speedy technological development on the labour market