III. Grammar

Exercise 8. Find in the text sentences containing Infinitive and Infinitive constructions, define the functions of the Infinitive and translate the sentences.

IV. Language

Exercise 9. Match the word combinations in column A with their equivalents in column B:

Indispensable однорідність, однаковість value обмін payment цінність грошових знаків, купюра to hoard міцність a number of портативність measure приймати in terms of покупка price засіб circulation sale втілення coins ордер, письмовий наказ строк експлуатації

portability необхідний denomination платіж purchase накопичувати exchange durability order a means of цінність to accept міра в перекладі на, у вираженні uniformity ціна кругообіг life expectancy монети продаж embodiment низка (декілька)

Exercise 10. Make up the possible word combinations out of the following and translate them:

commodity universal life legal paper token bank

equivalent coins money expectancy tender exchange

Exercise 11. Insert the suitable words and word combinations given below into the following sentences:

1. In commodity ... money plays the role of a universal equivalent.

2. The material chosen has to have a reasonable...

3. Each commodity is sold for a certain sum of money, which expresses its...

4. Money is a universal ... of wealth and a means of ... it.

5. When commodities are exchanged with the aid of money the latter also serves as a means of....

6. ... and ... are often made on credit.

Sales circulation accumulating purchases embodiment value life expectancy exchange

V. Text understanding

Exercise 12. Agree or disagree with the statements. Correct the false statements.

Use the expressions for:

Agreement: I agree with you; You are right; Certainly; Exactly so ; I fully support you

Disagreement: I can’t agree with you; I am afraid you are mistaken; Not quite so; This is not true; I disagree with the statement that…

1. Money is indispensable in a society in which commodity exchange takes place.

2. Money can`t be anything that is generally accepted in payment for goods and services.

3. Taken out of circulation money becomes treasure only if it is gold, or money converted into articles of precious metals and stones.

4. Cheques are forms of money.

5. Anyone receiving money must be assured that they will be accepted from him too, when he pays for other commodities.

6. One of the principal advantages of barter over money is its ability to be divided into parts.

Exercise 13. Find in the text the definitions to the following economic terms:

universal equivalent

money

price

cheques

Exercise 13. Answer the questions:

1. What qualities should material chosen for money possess? Give short explanations of each quality.

2. Explain in what way money performs the function of the measure of value.

3. When does money serve as a means of circulation?

4. Why do states declare money to be a legal tender?

5. What fact does the function "a means of accumulation" stem from?

6. What are the main types of money in use today? Give short characteristics of each.