Toshkent m oliyainstituti

Task 3.Give your idea on the topic: “Product development”

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What is demand and supply in an economy?
Task 2. Read and retell the text.
A person who starts a sole proprietorship may find that it grows and grows. 
More money must be found to expand the business, and that isn't easy. Banks want 
certain guarantees before they make loans, even to old, successful business. One 
way, then, to expand a business is to add skills and spread out the responsibility by 
forming a partnership. A partnership is a business organization with two or more 
owners who share responsibility.
Starting the partnership has few requirements. Depending on the nature of the 
business, a partnership may need a license. The partners should draw up a 
partnership agreement, a kind of contract in which they declare certain 
understandings between them. For instance, they put into writing how they will share 
the work and profits, how they will end the partnership, and other matters. A written 
agreement from the start may prevent problems later on.
It spells out the duties of each partner so that each knows exactly that responsibilities 
are his or her. Each partner can contribute skills, as well as money, to running the 
business. One advantage of a partnership is that each partner can bring special skills 
to the business. Another advantage is that, unlike sole proprietorships, partnerships 
find it easier to acquire money because there are more owners who can contribute to 
the business. All partners who share in the business have good reasons to work hard 
for its success. Each shares in the profits according to the partnership agreement. 
Like the income of the sole proprietorship, the income of the partnership is taxed 
only once.
Task 3.Give your idea on the topic: “Human resources”

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What are the types of business organization?