Compound Dictation: Listen to the passage and fill in the blanks with the information you hear.
Word Tips
Historically, the term business referred to activities or ____1____. By extension, the word became, as recently as the 18th century, synonymous with “an ____2____ commercial enterprise”. When referring to activities, the terms business and ____3____ sometimes appear interchangeable. Thus a fisherman might say either that he is in the “fishing business”, which is a bit colloquial or that he works in the “fishing industry”, which ____4____ somewhat formal. The word “trade” may serve as an ____5____ of both “business” and “industry”.
People establish businesses in order to ____6____ economic activities. With some ____7____, such as nonprofit organizations and institutions of the government, businesses exist to produce profit. In other words, _____________________________8_____________________________.
One can classify businesses in many different ways. _____________________________9_____________________________. They offer intangible products and typically have different, usually smaller, capital requirements than manufacturers. Distributors need smaller funds than manufacturers.
_____________________________10_____________________________. Some common types include partnerships, corporations, also called limited liability companies, and sole ownerships.
Part Two
Listen to the dialog and fill in the blanks with the information you hear.
Word Tips
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Bill:I hear that Vivitek has been considering acquiring a CD manufacturer for some time.
Jessica:That’s quite true. What’s on your mind?
Bill:My boss Helen thinks that our company would be a good match for Vivitek. And we have been looking for a merger partner.
Jessica:Are you sure your operation has much to bring to the table?
Bill:Definitely. ____________________________1____________________________. What’s more, Vivitek can propel us to even greater heights. It will be an all-around excellent match.
Jessica:I think it might be, though we have yet to discuss details.
Bill:________________________2________________________
Jessica:Well ,we of course need to come up with a plan that is attractive for both parties.
Bill:True, but my boss has to keep our shareholders’ interests in mind..
Jessica:______________________3______________________.
Bill:Yes, we don’t want to disappoint them.
Jessica:Then let’s talk about specifics.