I. Read and memorize the following words, word-combinations and word-groups:

transportation costs — TpancnopTHi Bm-paTM

e.g. Transportation costs are low.

domestic market — BHyTpiujuivi pmhok

e.g. Domestic markets for goods and services are often affected by either foreign supply or by foreign demand.

international market — Mi>KHapoAHMM phhok

e.g. For many commodities there are international rather than domestic markets.

import — BBe3eHHn, iMnopr

e.g. What are the chief imports of your country?

export — BMBe3eHHfl, eKcnopT

e.g. Last year exports exceeded imports in value.

barter — mJhhtm, o6MiHtoBaTM

e.g. According to the contract, they should barter wheat for machinery.

coincident wants — noTpe6n, m,o 36iraioTbca

e.g. Money solves the problem of coincident wants.

reciprocal wants — B3aeMHi noTpe6n

e.g. What phenomenon solves the problem of reciprocal wants?

international transaction — MbKHapoAHa yroaa

e.g. Money can be used in international transactions.

conversely — HaenaKw

e.g. Conversely, domestic firms want to be paid with money useful in the domestic economy.

foreign currency — ino3eMHa BantoTa

e.g. The person receiving payment in the foreign currency will want to exchange it for a domestic currency.

domestic currency — Hau,ioHanbHa Bantora

e.g. The person making payment in a foreign currency will have to exchange the domestic currency for the foreign currency in order to make the payment.

foreign exchange market — pmhok iH03eMHoT samo-m

e.g. A foreign exchange market is a market where one kind of money is traded for a different kind of money.

rate — Kypc, KoecbiujeHr

e.g. What is the rate of exchange for one American dollar? exchange rate — BanKM-HWM Kypc e.g. Exchange rate has recently raised. foreign trade balance — 6anaHC Mi>KHapoflHoY Topriani e.g. The difference between the value of imports and exports is the foreign trade balance.

II. Give English equivalents of the following:

TpaHcnopTHi BHTpaTu noTpe6n, mo 36ira-

K>TbCfl

B3a€MHi nOTpe6n

3MiHKJBaTM Ba/ltOTHHH

Kypc

BTpynaTMCfl b yroAM MiwHapoflHiM BfinuB Ha BHyrpiLUHiM

pMHOK

CTMMyn iMnopTyBa™ Ta eKcnopTyBarn iMnopTVBaTM Ta eKcnopTyBarn TOBapw 6anaHC MijKHapoAHoV TopriB/ii

pMHOK iH03eMHOl' B3nK>TM

HI. Fill in the blanks with appropriate words:

an incentive to import

direct barter

a foreign exchange market

coincident or recipro­cal wants

foreign supply

international transactions

foreign demand

deficit

the foreign frade balance

supply and demand

Domestic markets for goods and

services are often affected by either

... or by ... .

If the world price of a commodity

is below the domestic price, there

wili be ... the commodity.

Most international trade does not

occur through ... .

Money once again solves the

problem of ... .

As long as money can be used in

... exporters and importers do not

need to be the same individuals. . ... is a market where one kind of

money is traded for a different kind

of money.

Changes in ... in these markets

change the rate at which one

currency will be exchanged for

another currency. , The difference between the value of

exports and imports is ... . , If the value of imports exceeds the

value of exports then trade balance

is ... .

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