Деньги - Money. Невежина С.Б - 42 стр.

      TOPIC EXPANSION                                                     basis of credit nowadays. When goods are supplied on credit, the
                                                                          buyer becomes the owner of the good at the time of delivery but he does
      7. Match the parts to make completed sentences:
                                                                          not have to make payment at once. The buyer pays by installments
          1. Classical economists considered money to be no more …
                                                                          (очередной взнос) within a certain period of time, for instance, three
          2. Money is an asset …
                                                                          or even six months after delivery. When signed (подписывать), a
          3. Money is used as a standard of deferred payment, …
                                                                          special contract, usually referred to as 'hire purchase contract', lets the
          4. Loans provided by commercial banks, building societies,
                                                                          buyer make payments over several years.
             etc. …
                                                                                 A complex system of consumer credit can only operate in a
          5. In addition to being a means of exchange money is also
                                                                          monetary economy. Sellers are not expected to deliver goods for
             …
                                                                          promises of future payment in terms of any goods except money, for it
          6. Swap in a money market is a process …
                                                                          will be difficult for them to say how much of which commodity they
          7. Exchange rate is …
                                                                          will need at which particular time in the future. If not required by the
          8. GNPs are measured in the country's local monetary unit,
                                                                          seller himself, the commodity received in payment may be difficult to
             …
                                                                          trade for another one. Being a universal medium of exchange, money
          9. The foreign exchange market is a market where foreign
                                                                          lets sellers rely on promises of payments in terms of money to be made
             currencies are sold and bought …
                                                                          in future.
          10. Barter is a method of trading goods and services for
             other goods and services …                                         9. Using the text above complete the following sentences:
                                                                                1. Purchasing on credit, the buyer becomes the owner of the
      a. either through private exchange dealers or a country's central   good when ... .
          bank.                                                                 2. The difference between simple credit and hire purchase
      b. known to be a means of measuring the value of men's labour.      system is ... .
      c. of exchanging one kind of financial asset or liability for             3. Consumer credit cannot exist in barter economies because ... .
          another.
      d. than a medium of exchange.                                             10. Think and answer the questions:
      e. or currency.                                                          1. Why isn't hire purchase system widely used in Russia
      f. for it is an accepted measure of future payments in contracts.   nowadays?
      g. without the use of money.                                             2. Has hire purchase system been ever popular in this country?
      h. the price of one currency in terms of some other currency, for
          instance, the price at which dollars might be exchanged for            WRITING
          pounds.                                                                Brush up the topic (Money and its functions) and pre-
      i. are an essential source of money for everyday consumption        pare for an essay The role of the money in the economy.
          and purchase of personal and business assets.                          Look at the Paragraph Plans for Argumentative Essays
      j. that is accepted as a means of payment.                          in File 3, choose one of the topic aspects (for example, a certain
                                                                          function of money) and write down an essay of one kind or an-
      8. Read the text and headline it.                                   other.
       То serve as a means of deferred payment is an important func-
tion of money due to the fact that most business is transacted on the

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