5. A joint venture is the activity of making goods available to customers after they have been produced
the way of developing new ideas and solving problems by having a meeting where everyone makes suggestions and these are discussed
the process of putting the parts of a product together in manufacturing
a business activity in which two or more companies have invested together

6. Find the best title to the text “The location of a business can be an important factor for its growth. If a company wants to set up an office in a new location – to be near the regional markets, for example, it needs to be sure that the region has good infrastructure and a stable economy. Some governments offer low taxes to attract companies to set up in developing regions. After deciding on the region or city for the new office, the company then has to find a good site for premises”                        New Field of Dreams
Dilemma: A new Location
Strategy to Find New Premises
Good Location Increases Profits

7. It is difficult for companies to set the price of a product. A ……………… price may help …………….. sales, but it also ……………….. the profit margin. As a result, the company may have to cut costs to keep prices ………….. .                                       higher; increase; reduces; down
lower; decrease; increases; up
lower; increase; reduces; down
higher; decrease; increases; up

8. Identifying fraudulent claims has helped the company to …………………………………..                                                             raise
spend
waste
save

9. The market for DVD players ……………………. last year, and the findings …………………………….. in our December survey.            has been researched; will be reported

was researched; are reported
researched; was reported
researched; are reported

10. If you ………………… fully satisfied with this product, we ……………….. you money.                                       won’t be; shall refund
will be; shan’t refund
are not; will refund
will not be; refund

11. People on the trainee scheme have no work …………………, just a university qualification.                                                                  CV
experience
application
resume

12. Put the sentences (A), (B), (C), (D into the text in the correct order. (A) group that they work with, (B) person has responsibility for a specific area of work, (C) retailers sell goods to the general public, (D) some companies manufacture or produce goods. “Companies have different activities and work in different ways. So ………………………………………………(1), others provide services; ……………………………………………….(2). Companies employ people to work for them in many kinds of job. Each ………………………………………(3) and a role within the team or (4)……………………………………….”                    D C B A
A B D C
C B A D
B C A D

13. If electric cars ……………… so many disadvantages, more people …………………….. them.                                               didn’t have; would buy
don’t have; would buy
won’t have; will buy
didn’t have; will buy

14. The company ……………………. the market leader for three years now. is
was
is being
has been

15. I apologize ………………… sooner. I look forward ………………. you next month.                                                                     not to reply; to meet

1. for not replying; for meeting
   not for replying; to meet
   for not replying; to meeting