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VI. Answer the following questions:

1. What needs do banks fulfil in a community? 2. How do banks act? 3. What is the difference between assets and liabilities? 4. What does the term balance sheet mean? 5. What does the balance sheet reflect? 6. What is net worth? 7. What are the reasons for the bonds to be a good investment? 8. When can the bonds be sold? 9. Under what conditions would the bank grow and prosper? 10. How might the bank use some of its excess funds and assets? 11. In what way might the bank try to attract more depositors?

VII. Translate into English:

1. Банки забезпечують людей місцем, куди б вони могли без ризику вкласти свої гроші (заощадження). 2. Банки тимчасово надають кредити приватним особам та підприємствам, коли ті потребують готівки. 3. Банківські пасиви — це борги та зобов’язання банку. 4. Банківські активи — це власність, майно та рекламації до інших банків. 5. Балансо­вий звіт — це документ, який у стислій формі відображає стан усіх активів та пасивів на даний період часу. 6. Банк міг би інвестувати деяку частину готівки в облігації (бонди). 7. Ліквідність сприяє здат­ності банку обслуговувати своїх клієнтів. 8. Коли банк залучатиме біль­ше фондів, він зможе надавати більші позики та одержувати більший прибуток.

Communicative situations

1. You have an exam. Your question is «Money in our society».

2. Discuss the functions of money:

  • Medium of Exchange (money is accepted by people when they buy or sell goods and services or productive resources);

  • Standard of Value (money is used like a ruler to compare the value of things people buy and sell).

  • Store of Value (Money is a way to store value from the time people receive it until another time when they spend it).

  1. Discuss the characteristics of money that help make it effective in accomplishing these functions: portability, uniformity, acceptability, durability, divisibility, stability in value.

  2. Discuss the types of money and give examples of each type: commodity money (gold, silver), representative money (old U.S. Notes), fiat money (U.S. currency and coin), checkbook money.

  3. Ask your fellow students what they know about Ukraine’s banking system.

  4. Express your attitude to the following expressions:

  • Money spent on the brain is never spent in vain.

  • Time is money.

  • Money is the root of all evil.

  • Money is the guarantee of security.

  • Money has no smell.

  • No bees, no honey; no work, no money.

Grammar exercises The Gerund. Forms and Functions

I. Change the sentences according to the pattern:

Pattern A: I like to read detective stories.

I like reading detective stories.

1. I began to write poems very early. 2. They stopped to smoke. 3. I hate to write letters. 4. I remember to tell you about it. 5. They prefer to stay at home in the evening. 6. His mother intends to spend her holiday in the Crimea. 7. She tried to open the window but couldn’t. 8. I have just begun to translate the text.

Pattern B: Don’t worry about it. It’s no use.

It’s no use worrying about it.

1. Don’t smoke. It’s a waste of money. 2. He solves cross-word puzzles very well. He is good at it. 3. Don’t get angry. It’s not worth it. 4. Don’t study if you are feeling tired. There is no point. 5. Don’t ask Tom to help you. It’s no good. 6. Don’t get a taxi. It’s no use.

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