Деньги - Money. Невежина С.Б - 37 стр.

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73
Why can we say the goldsmith became a kind of medieval
banker?
Why did merchants accept the receipts of goldsmiths in payment
for goods?
Can you imagine a world without money in the form of coins
and paper currency? Why?
What qualities should money possess?
11. Read the text below. Use the word given in capitals at
the end of each line to form a word that fits in the space in the
same line. There is an example at the beginning (0).
MONEY
11
Before the (0) invention of money, people used to get INVENT
the goods and services they wanted by (1)_____things SWAP
with others. This system was entirely (2)_____on an DEPEND
(3)_____between both people, who each needed to AGREE
have what the other wanted.
The system of (4)________ started to work much more CHANGE
smoothly with the (5) _______of money.
By using precious INTRODUCE
metals, which had been (6)_______weighed and made OFFICIAL
into coins, it (7) _______possible to sell what
you produced COME
in return for coins, then use the coins to buy (8) ____ ANY
you wanted from a third party.
Some societies have developed (9)________substitutes ACCEPT
for coins by using things which, in (10)_____, have a REAL
fixed value such as salt or cigarettes.
12. IMITATION: you found yourself in the society that didn't
have money system. Describe your imaginary experience.
74
MONEY AND ITS FUNCTIONS
∗
READING
1. Look at the main heading and say what you expect the
text to be about.
2. Summarise the first function of money.
3. Summarise the second and third functions of money.
4. Summarise the fourth function of money.
5. How many different kinds of money are there?
Now read the passage through and find the answers to
those questions. Remember, you do not have to understand
every word to answer them.
MONEY AND ITS FUNCTIONS
12
Money has four functions: a medium of exchange or means of
payment a store of value, a unit of account and a standard of deferred
payment.
The Medium of Exchange
When used as a medium of exchange, money is considered to be
distinguished from other assets.
Money as the medium of exchange is believed to be used in one
half of almost all exchange. Workers exchange labour for money, people
buy or sell goods in exchange for money as well.
People do not accept money to consume it directly but because
it can subsequently be used to buy things, they wish to consume.
Money is the medium through which people exchange goods and
services.
To see the advantages of a medium of exchange, imagine a barter
economy, that is, an economy having no medium of exchange. Goods
are traded directly or swapped for other goods. The seller and the
buyer each must want something the other has to offer. Each person is
simultaneously a seller and a buyer.
∗
For comprehensive examination of the topic see SUPPLEMENTARY TASKS:
Block 7 and Block 8 (p. 66, 69). 
      Why can we say the goldsmith became a kind of medieval                          MONEY AND ITS FUNCTIONS∗
banker?
      Why did merchants accept the receipts of goldsmiths in payment         READING
for goods?
                                                                              1. Look at the main heading and say what you expect the
      Can you imagine a world without money in the form of coins
                                                                       text to be about.
and paper currency? Why?                                                      2. Summarise the first function of money.
      What qualities should money possess?                                    3. Summarise the second and third functions of money.
                                                                              4. Summarise the fourth function of money.
      11. Read the text below. Use the word given in capitals at              5. How many different kinds of money are there?
the end of each line to form a word that fits in the space in the
same line. There is an example at the beginning (0).                         Now read the passage through and find the answers to
      MONEY    11                                                      those questions. Remember, you do not have to understand
                                                                       every word to answer them.
Before the (0) invention of money, people used to get INVENT
the goods and services they wanted by (1)_____things SWAP                               MONEY AND ITS FUNCTIONS12
with others. This system was entirely (2)_____on an      DEPEND             Money has four functions: a medium of exchange or means of
(3)_____between both people, who each needed to          AGREE         payment a store of value, a unit of account and a standard of deferred
have what the other wanted.                                            payment.
The system of (4)________ started to work much more CHANGE
smoothly with the (5) _______of money.                                        The Medium of Exchange
By using precious                                       INTRODUCE             When used as a medium of exchange, money is considered to be
metals, which had been (6)_______weighed and made OFFICIAL             distinguished from other assets.
into coins, it (7) _______possible to sell what                               Money as the medium of exchange is believed to be used in one
you produced                                             COME          half of almost all exchange. Workers exchange labour for money, people
in return for coins, then use the coins to buy (8) ____ ANY            buy or sell goods in exchange for money as well.
you wanted from a third party.                                                People do not accept money to consume it directly but because
Some societies have developed (9)________substitutes ACCEPT            it can subsequently be used to buy things, they wish to consume.
for coins by using things which, in (10)_____, have a REAL             Money is the medium through which people exchange goods and
fixed value such as salt or cigarettes.                                services.
                                                                              To see the advantages of a medium of exchange, imagine a barter
     12. IMITATION: you found yourself in the society that didn't      economy, that is, an economy having no medium of exchange. Goods
have money system. Describe your imaginary experience.                 are traded directly or swapped for other goods. The seller and the
                                                                       buyer each must want something the other has to offer. Each person is
                                                                       simultaneously a seller and a buyer.


                                                                          ∗
                                                                            For comprehensive examination of the topic see SUPPLEMENTARY TASKS:
                                                                       Block 7 and Block 8 (p. 66, 69).

                                73                                                                       74

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