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Eng_FIK_Reading in finans.doc
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1.1. Translate the expressions from English into Russian:

a medium of exchange, a standard of value, a store of value, circulating currencies, legal tender status, deposit accounts, money supply, a coincidence of wants, inclusive term, liquid instruments, a uniformly recognized tender.

1.2. Complete the song lyrics in box a with a phrase from box b:

A

a) Money, money, money, must be funny b) I don’t care too much for money

c) Money for nothing d) Money, it’s a crime

e) Money’s too tight to mention

B

1. and chicks for free (Dire Straits / Celine Dion)

2. ‘cause money can’t buy me love (The Beatles)

3. I can’t even qualify for my pension (Simply Red)

4. in the rich man’s world (Abba)

5. sharp it fairly but don’t take a slice of my pie (Pink Floyd)

1.3. Circle the best answer: a), b), c) or d):

1. Money in notes and coins is called … a) cash; b) gold; c) capital; d) reserve.

2. A lot of firms raise … by issuing new shares. a) capital; b) gold; c) profits; d) stock.

3. Money borrowed from a bank is a … a) deposit; b) income; c) profit; d) loan.

4. Money paid by the government or a company to a retired person is a …

a) capital; b) pension; c) rebate; d) subsidy.

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5. The money needed to start a company is called a) aid; b) gold; c) debt; d) capital.

6. Her collection of antiques is worth a … a) chance; b) fortune; c) money; d) wealth.

7. It’s always a good idea to save up for a … day. a) broke; b) poor; c) rainy; d) wet.

8. Many … metals are mined in South Africa. a) precious; b) real; c) rich; d) silver.

9. Most people need a … when they buy a house. a) borrow; b) lend; c) mortgage; d) wealth.

10. Why did you go and … all your money on that sports car?

a) bash; b) blow; c) earn; d) splash.

1.4. Money serves as a medium of exchange, a standard of value and a store of value. Match the definitions (1–3) with their explanations (a–c):

1. Medium of exchange

a) means that money can be saved or stored for later use. For money to serve as a store of val-ue, two conditions must be met. First, the money must be nonperishable. That is, it can-not rot or otherwise deteriorate while being saved. Second, it must keep its value over time.

2. Standard of value

b) is any item that sellers will accept in pay-ment for goods or services. In this case money assists in the buying and selling of goods and services because buyers know that sellers will accept money in payment for products or ser-vices.

3. Store of value

c) provides people with a way to measure the relative value of goods or services by compar-ing the prices of products. In this way, people can judge the relative worth of different items such as a television and a bicycle.

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