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15. Write down the functions of each type of the following:

banks

pension funds and schemes__________________________

insurance companies_______________________________

investment trusts__________________________________

unit trusts________________________________________

finance houses____________________________________

16. Have a look at the chart and answer the questions that

follow:

Finance

  • For short-lived assets, such as raw materials and some types of vehicle

  • To cover temporary falls in demand

  • To meet unplanned expenses

  • To bridge short-term gaps between expenditure and income

Finance

  • For long-lived assets, such as buildings and heavy machinery

  • For programmes of expansion and modernisation

  • To buy other companies and so on

Short-term finance

Long term finance

Commercial banks

Shares and debentures

Discount houses

Commercial banks

Finance houses (hire-purchase)

Merchant banks

Trade credit

Insurance companies

Leasing companies

Pension funds

Specialist investment institutions

Government agencies

  1. What new information (as compared with the text) does

this chart provide?

  1. Is it very illustrative?

  2. What words are new to you in the chart?

(Consult a dictionary and write down these words and

their translations.)

Text 3: The role of the government

Julian Amey: I'm Julian Amey working for the Department of Trade (DT), in the export promotions side particularly looking at media education training and telecommunications.

Interviewer: In the Department how much of the time is spent with exports? Is that the majority of the Department's work, trying to encourage British exports?

Julian Amey: Exports is one of the three key areas of our involvement. Exports, the development of trade, the development of investment is the business of this department.

Interviewer: And what sort of things can the DT do to encourage investment and trade? What are the general ways in which that's done?

Julian Amey: Well, the main focus of the DTs work at the moment is to provide detailed analysis of the markets, the prior­ity markets I mean. Our aim is to help, particularly the small and medium-sized companies to tackle those markets in an efficient way. There are 80 of them, 80 key markets around the world.

Interviewer: And what do you practically do for them?

Julian Amey: The specific help is that each priority market has a desk officer who's wholly responsible for providing information about that country, let's say Brazil. So you'll have a Brazil desk officer who can give you all the detailed economic and political information about the market. Then he can give you the help of our embassy in Brazil as well.

Interviewer: And how can it be done?

Julian Amey: Our embassies have commercial officers who can give further information about market segments and for example possibly agents who might act for your busi­ness.

Interviewer: Oh it's all very important.

Julian Amey: Right you are. We help companies in the first steps into a market.