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3. Look at the term in the left-hand column and find the correct synonyms or definitions in the right-hand column:

interest payment

first

periodic

occurring at regular times

initial

a time limit for finishing something

source

a sum paid for borrowing money

deadline

any thing or place from which something is obtained

obligation

extreme

the contract or promise that compels one to follow a certain course of action

issue

print for sale or distribution

severe

  1. Answer the following questions:

    1. Why does a corporation need capital?

    2. What are the two basic types of financing used by a corporation?

    3. From whom are funds acquired for each type of financing?

    4. What does one share of stock entitle the purchaser to?

    5. Why do initial sales of stock involve some risk?

    6. How might a stockholder benefit from his stocks?

    7. If the corporation is not successful, how might the stockholder be affected?

Unit 3. Money

        1. Read and memorize the following words and word combinations:

  • payment – плата

  • portability – портативність

  • durability – міцність

  • denomination – найменування; цінність, загальна вартість

  • value – цінність; ціна, вартість; валюта

  • bill – банкнота

  • uniformity – однаковість, однорідність

  • fluctuation – коливання

  • divisibility – подільність

  • medium of exchange – спосіб обміну

  • measure of value – міра цінності

  • currency – валюта

  • demand deposits –безстроковийвнесок

  • accounts – рахунки, розрахунки, звітність

  • on demand – повимозі

2. Read, translate and retell the text:

All values in the economic system are measured in terms of money. Money can be anything that is generally accepted in payment for goods and services. The value of money is basically its value as a medium of exchange, or as economists put it, its “purchasing power”.

Money should possess the following qualities:

Stability.The value of money should be more or less the same today as tomorrow. In societies where value of moneyfluctuates(goes up and down) people will save up in the hope that its value will increase, or spend it immediately thinking it will be worth less tomorrow.

Portability.Modern money has to be small enough and light enough for people to carry.

Durability.The material chosen has to have a reasonable life expectancy. For that reason most countries use a very high quality paper for their money.

Uniformity.Equal denominations of money should have the same value.

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

Recognizability. Money should be easily recognized for what it is and hard to copy.

We can also define money by what it does, which is to provide:

  • A Medium of Exchange;

  • A Measure of Value;

  • A Store of Value.

A Medium of Exchange. The principal difference between a barter economy and a money economy is that in a barter economy you must find someone who has what you want and wants what you have. In a money economy people can sell what they have to anyone and use money to buy what they want. Money, therefore, is the medium that enables exchangers to be made easily.

A Measure of Value.Money enables us to state the price of something in terms that everyone can understand.

A Store of Value.Money enables us to use the value of something that we sell today to make a purchase sometime in the future.

Currency. The money you are most familiar with,currency, consists of the paper money and coins that you almost use daily. Currency is legal mender.

Demand Depositsare checking accounts held by commercial banks. They are called “demand deposits” because they are available “on demand” simply by writing a check.

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