Exercises

1. Answer the questions.

1. What do we understand under the term “money”?

2. What does money do for people?

3. What were the analogues of money?

4. What do we understand under the term “currency?”

5. What are the functions of money? Describe them.

6. What is liquidity?

7. Money is said to have a time value. What exactly does it mean?

2. Find in the text English equivalents for the following Ukrainian phrases:

Загальноприйнятий; засіб сплати; гроші надають нам можливість; на протязі усієї історії; серед багатьох ранніх культур; хутра та шкіра; коштовні метали; сплата, яка прийнята; засіб обміну; вимірювання відносної вартості; засіб накопичування; отримати гроші за свої послуги; може у свою чергу; двом різним товарам; на однаковій основі; грошова маса; кількість грошей; концепція ліквідності; безстроковий вклад; терміновий депозит.

3. Find and read sentences explaining the title of the text.

4. Find in the text sentences expressing such ideas.

1. Money helps us to live in a society.

2. Money can take different forms of expressing.

3. We can’t define money as currency.

4. Money may serve as a medium of exchange.

5. Money expresses the store of value.

6. Liquidity helps us to understand the money supply.

5. Find antonyms for the words underlined.

1. Money gives us the things we need to die.

a) to use b) to survive c) to determine d) to define

2. If the grocer would have to spend the value of his milk in milk, he could not hold it for long because it would spoil.

a) to pour out b) to freeze c) to store d) to drink

3. These items include demand deposits from which funds can be given.

a) taken b) stolen c) withdrawn d) painted

4. The carpenter could give money for his services.

a) to choose b) to change c) to receive d) to keep

5. The tailor could buy a carton of milk from the grocer.

a) to purchase b) to sell c) to stole d) to keep

b) Find synonyms for the words underlined.

1. Money enables us to function in society.

a) gives us the opportunity to live b) gives us the opportunity to become a prisoner

c) gives us the opportunity to be a vice-president

2. Money is a means of paying for goods and services.

a) things b) clothes c) article

3. To measure the money supply, we measure the amount of money in the economy.

a) to calculate b) to define c) to use

6. Match the words from a) with the words from b).

a)Time b) supply

Money deposit

Amount of money

Concept of value

Store of relative value

Measure of liquidity

A medium of exchange

Dollar bills

Means of paying

The goods and services

Ancient world

7. Make up sentences putting the words in the correct order.

1. Money, of, for, paying, a, the goods, means, services, is.

2. Three, has, money, functions.

3. We, think, can, of, value, money, terms, in.

4. Economists, define, currency, can’t, money, as.

5. Liquidity, how, a, quickly, measure, item, an, be, can, to, cash, converted, is, of.

6. These, include, items, time, demand, deposit, and, deposits.

7. Money, individuals, two, to, exchange, enables, having, to, barter, without.

8. Money, in, terms, helps, to, think, of, base, value, common, different, things, a.