A. Discuss the following questions.

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A. Discuss the following questions.

v Are you interested in the world of business?

v What kinds of people are good at business? Who would be your business model?

v Is it easy to start a business in your country? What advice would you give to people starting in business?

v What would be your main business goal?

B. Read the text, give the main idea and summarize the key points about business.

New businesses are set up by entrepreneurs. There are both risks and benefits involved in setting up a new business. A business is any organization that makes goods or provides services. Goods are physical products - such as burgers or cars. Services are non-physical items - such as hairdressing. Customer needs are the wants and desires of buyers.

There are many types of business. These range from small firms owned and run by just one self-employed person, through to large companies which employ thousands of staff all over the world. Nearly half a million businesses start up every year. A business start-up is a new firm operating in a market for the first time. In order to create goods and services, a business buys or hires inputs such as raw materials, equipment, buildings and staff. These inputs are transformed into outputs called products. These products are the goods and services used by consumers. Production is the business activity of using resources to make goods and services.

The skill involved in wanting to start and run a business is called enterprise. The individual who sets up their own business is called an entrepreneur. There are several reasons why entrepreneurs are willing to take a calculated risk and set up a business. Possible motives include:

• making a profit. A business does this by selling items at a price that more than covers the costs of production. Owners keep the profit as a reward for risk-taking and enterprise.
• the satisfaction that comes from setting up a successful business and being independent.
• being able to make a difference by offering a service to the community such as a charity shop or hospice.

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