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Unit 2. Money and economic relations

Key Words and Phrases:

1. money – гроші

2. price – ціна

3. value – цінність

4. wage – заробітна плата

5. fee – гонорар

6. exchange – обмін, розмінювати

7. relations – відносини

8. co-operation – співробітництво

9. activity – діяльність

10. partner – партнер

11. credit – кредит

12. offer – пропозиція

13. negotiations – переговори

14. cheque – чек

15. banknote – кредитний білет, банкнот

16. to sell things – передавати речі

17. to buy things – купувати речі

18. to keep money – тримати гроші

19. to put money – вкладати гроші

20. means of storing up – засіб накопичення

21. to be heavy with orders –мати багато замовлень

22. to clarify some details – з’ясовувати деякі деталі

23. a repeat order – повторне замовлення

24. to settle prices –домовитися про ціни

25. to establish trade contacts – встановити торговельні контакти

26. barter relations – бартерні стосунки

27. to deal with a bank – користуватися послугами банку

28. recipient country – країна, яка одержує допомогу

29. aid-giving country – країна, яка надає допомогу

Read and translate the text:

In the modern world money has various uses. For selling and buying things, all modern people use money. Money gives us a useful means of measuring the value of things. Money is also of very great use as a means of exchanging goods and services. Money is a way to store up buying power that one can use later. If we consider money as a means of storing up buying power, it has good and bad points. Money can more easily be kept a long time than such things as food, buildings and machines. Food spoils, buildings fall to pieces and machines rust. Money takes up very little space and if we want we may put it in a bank.

But modern money has some very serious disadvantages if we use it as means of storing up buying power. In earlier times when money was in the form of gold and silver coins, the metal in each was really worth the amount stamped on the coin. But the paper in modern paper money is worth much less than the amount written on it. In a short time the buying power of modern money can change very greatly and because of that, some people are doubtful about the wisdom of saving money.

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Exercises in Reading and Comprehension.

1. Make up sentences:

Money

is

has

The root of all evil

A measure of the value of goods

A means of exchanging goods

The guarantee of security

A way to store up buying power

Various uses in the modern world

Good and bad points

Some very serious disadvantages