II. Ответьте на следующие вопросы:

1. What are all values measured with?

2. What do we buy our goods and services for?

3. What are coins used for?

4. What are paper notes used for?

5. Is money a means of exchange?

6. What was originally used as a constant store of value?

7. What were gold and silver replaced by?

8. How do we measure the strength of a national currency?

9. Who issues paper notes?

10. What does purchasing power depend on?

III. Выполните следующие упражнения.

1. Приведите русские однокоренные слова:

system, service, adequate, metal, constant, universal, national, term, standard, basic

2. Найдите в тексте английские эквиваленты следующих слов и выражений:

cредство сбережения, сделка, монета, товар(ы), ценные металлы, экономическая система, средство обмена, средство сбережения, валюта, с точки зрения, сокращаться, покупательная способность, зависеть от чего-либо, в более широком смысле слова.

3. Заполните пропуски необходимыми по смыслу предлогами.

1. At different periods of time and in different parts of the world many different goods served … money. Different goods were then replaced … valuable metals, first… silver and then … gold.

2. They measured the land near their house … an electronic device.

3. When they arrived in London, they had to exchange their dollars … pounds, because they couldn’t do shopping.

4. It was a very valuable picture, it was sold … 10 000 pounds.

5. The prices on home market depend … the prices of imports.

6. Inflation must be controlled … the government.

7. The head … the Bank of England is appointed … the Queen and the Prime Minister.

8. The Bank of England is a national bank, that’s why it controls the British banking system, issues … banknotes and mints … coins.

Текст 8

I. Прочитайте и переведите текст. При необходимости пользуйтесь словарём. From the history of banking

The goldsmiths of the 17-th century were the first real English bankers.

Gold and silver were accepted internationally for the payment of debt. Gold was most commonly used in the country. Merchants had to keep some gold in reserve to meet their demands. They placed these stocks in gold with the goldsmiths for safe keeping. In return for the gold the goldsmiths issued receipts. Upon presentation of these receipts the gold was returned. From that process two customs naturally appeared. The merchants realized that it was not necessary to go to the goldsmiths and withdraw their gold every time they needed money when other merchants who trusted the goldsmith were ready to accept a receipt instead. That was the beginning of the use of paper money. Later the goldsmiths realized that they could lend the deposited money to reliable customers on payment of interest. That was the beginning of the modern banking system.

Today it is highly organized and efficient business , but it still performs its basic functions, namely to receive deposits and keep them safe, make loans and transfer money.

Слова и выражения:

common ( adj) - общий, обычный

commonly ( adv) – обычно, обыкновенно

debt ( n, С) – долг; be in debt – быть должным

demand (n, C) - спрос

meet one’s demand – удовлетворять чей-либо спрос

deposit( n, C) – вклад, депозит

deposit ( v) - положить на хранение

efficient ( adj) – эффективность, прибыльность, производительность

goldsmith ( n,С) – золотых дел мастер, ювелир

interest ( n, C) – процентная ставка

lend (lent, lent) ( v) – ссужать, давать взаймы

loan (n,С) - ссуда

make a loan – предоставлять ссуду, давать взаймы

merchant ( n, C) – купец

perform ( v) – выполнять что-либо

receipt ( n, C) – расписка, квитанция

reserve ( n, C) – запас, резерв

keep smth. in reserve – держать что-либо в запасе

safe keeping ( n) – полная безопасность

stock ( n, C/U) – запас(ы)

transfer ( n, C/U – перевод (денег)

transfer ( v) (money) – передавать, переводить (сумму денег)

trust smb. ( v) – доверять кому –либо

withdraw (money) ( v) – забирать, снимать со счёта