В. А. Шляхова, О. Н. Герасина, Ю. А. Герасина английский язык для экономистов english for economists



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Шляхова В.А. Английский язык для экономистов

TEXT XI
(
To be read after Unit X
To be read after Unit X
)
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Risks of Business
Employers obtain their net profits only after they have paid all 
expenses arising out of their business activities: interest, payments 
for machinery, wages and overheads generally. The surplus is not 
usually available only for employers and their families. Part of it 
goes to those who have provided the initial capital needed to start 
a business.
There is always an element of risk in providing capital for new 
business. Such business may fail. Both those who provide the capital 
and those who run the business agree to bear the risk, the employers 
of such businesses are not expected to bear any risk. If the business 
is successful and the risk has been justified, the invested capital 
earns part of the profits as a return on the investment at the period, 
which the capital was at risk.
When capital, labor and enterprise combine to make business 
successful, the business must still continue to compete on the market 
with other companies producing the same type of commodity.
The term ‘market’, as used by economists, is a logical extension 
from the idea of a place set for buying and selling. Formerly, part of 
town was kept as a marketplace, and country people would come in 
on market-days to buy and sell. Markets today need not however be 
located in any fixed place: the sugar market and the cotton market 
are not geographical locations, but simply a set of conditions which 
permit buyers and sellers to work together.
In a free market, competition takes place among sellers in 
order to sell their commodities at the best possible price, which 
suits them. Such competition influences prices. Changes in supply 
and demand have their effects, and can take place over periods of 
weeks and months.


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