Comments

1. to make up — складати

2. national income — нацiональний дохід

3. retail and wholesale trade — роздрiбна та оптова торгiвля

4. insurance — страхування

5. to be responsible for — вiдповiдати за, бути вiдповiдальним за

6. Commonwealth banks — банки Спiвдружностi

7. building societies — житлово-будiвельнi товариства

8. to accept deposites — приймати вклади

9. mortgage — застава

Vocabulary exercises

I. Name the word-building elements (suffixes, prefixes) and

the part of speech of each word:

nation — national — nationally — nationalism — nationalist —nationalistic — nationality — nationalize — nationalization — international — internationalism — internationalist — internationalize; produce — producer — producible — product — production — productive — productively — productivity — unproductive; insurance — insurant — insure — insurer — uninsured; bank — banker — bankable — banking — bankrupt — bankruptcy.

II. Give the English equivalents for:

важлива роль; внутрiшнiй валовий продукт; охорона здоров’я; освiта; нацiональний дохід; роздрiбна та оптова торгiвля; послуги у сферi фiнансiв та бiзнесу; бути вiдповiдальним за щось; мiжнародний банкiвський кредит; страхування; ф’ючерсний ринок; банкiвська систе­ма; банки Спiвдружностi; Європейське Економiчне Співтовариство; мiжнародна торгiвля; комерцiйнi банки; експорт товарiв та послуг; житлово-будiвельнi товариства; машинне устаткування; приймати вкла­ди; текстильнi вироби; електронна апаратура.

3. Fill in the blanks with prepositions or adverbs if necessary:

1. Services play an important role ... British economy and make up an increasing proportion ... the national income. 2. They account ... about 60 per cent ... gross domestic product. 3. London is the world’s principal trading centre ... commodities, as well as an increasingly important centre ... financial futures markets. 4. Commercial banks provide financial services ... individuals and companies. 5. Building societies accept deposits and arrange mortgages ... house purchase. 6. About one-quarter ... its gross domestic product comes ... the export ... goods and services. 7. Great Britain is the fifth largest trading nation ... the world. 8. ... 1973 it has been a member ... the European Economic Community.

4. Complete the following sentences:

1. Services account for ... . 2. This sector includes ... . 3. Banking, finance, insurance, business services and leasing account for ... . 4. London has the world’s largest insurance market, and its banks are responsible for ... . 5. Commercial banks provide ... . 6. Britain’s banking system comprises ... . 7. Since 1973 Britain has been ... . 8. Britain’s main exports are ... .

V. Match each term in Column a with its definition in Column b:

Column A	Column B
1. service	a. The activity of selling goods and services in order to make a profit.
2. national income	b. A financial institution that accepts demand deposits and makes commercial loans.
3. gross domestic product	c. An economy in which a significant percentage of its goods and services are traded internationally.
4. trade	d. The total annual money value of the goods and services produced by a country.
5. bank	e. A financial institution that accepts deposits and arrange mortgages for house purchase.
6. building society	f. The monetary value of all the goods and services produced by an economy over a specified period.
7. open economy	g. Intangible commodity.
8. exports	h. Goods and services sold to foreign countries.