Vocabulary list

		to have a (personal) stake in smth — быть (лично) заинтересованным в чем-либо syn. to be interested in smth
		to buy smth with money — покупать что-либо за деньги
		to exchange smth for smth — обменивать что-либо на что-либо
		to pay a charge (fee) — оплачивать услуги
		to maintain a banking account — иметь счет в банке
		trade bу barter — меновая торговля to trade by barter — заниматься меновой торговлей
		to offer smth in exchange for smth — предлагать что-либо в обмен на что-либо
		to swap smth for smth — обменивать что-либо на что-либо
		to involve difficulties — повлечь за собой сложности
		to be worth — зд. равняться по стоимости
		to measure the value of smth against the value of smth — измерять стоимость чего-либо через стоимость чего-либо
		to depreciate — зд. терять в стоимости, цене
		to accept smth in exchange for smth — принимать что-либо в обмен на что-либо
		to measure smth in terms of smth (money, per cent, figures, etc.) — измерять, мерить что-либо в чем-либо (деньгах, процентах, цифрах и т.д.)
		a medium of exchange — средство обмена
		a store of wealth (value) — средство "сохранения стоимости"
		a measure of value — мера стоимости
		coin — монета
		banknote — банкнота
		cash — наличные деньги
		cash in the bank account — безналичные деньги
		to be legal tender — быть законным платежным средством

■ Ex. 1. Choose a suitable title for the passage from the list below. Support your point of view.

1. Money concerns all.

2. What is money?

3. Money is a part of any civilized society.

4. Barter — the earliest form of trade.

Make use of the following helpful phrases:

As 1 see it...

In my opinion...

My point of view is...

There is one subject over which everybody has complete mastery, that is, money.

Moreover we learn it at a very early age. Why is this? Surely it is because the subject of money is one which concerns us all very closely. We have a personal stake m the subject, so we are interested. Because we are interested, we learn.

But what exactly is money? To answer that question, we go back in time.

Today we buy cigarettes, bread, clothes with money in a shop. These are goods; we exchange our money for goods which others sell to us. Today we travel on a train or bus, or maintain a banking account, and we pay the charge or fee. There are services; we exchange our money for the services which others provide for us.

In a primitive community people obtain goods and services by barter. Trade by barter is the earliest form of trade, when people offer goods in exchange for what they want, that is they swap goods for other goods. However barter involves many difficulties. The man with tomatoes to swap wants a blanket. But the man with a blanket to swap does not want tomatoes, he wants a pot; and the man with a pot to swap wants a hen. So there is the problem of "double coincidence of wants". Then there is the problem of the "rate of exchange". How many tomatoes is the blanket worth or a hen? Still another problem is that some goods are more perishable than others. Tomatoes become mushy, for example, and the owner has nothing to swap.

As primitive communities develop into more advanced societies people realize they need some commodity they can use in exchange for anything, some commodity that does not decay and remains valuable, some commodity with the help of which people can measure the value or one thing against the value of another thing. Such commodity is money. It does not depreciate, people accept money in exchange for anything, they measure all goods in terms of money.

Thus money is a necessary part of any civilized society, It serves as:

1. a medium of exchange

2. a store of wealth

3. a measure of value

Money means coins, banknotes and cash in the bank account. We use it to make payments.

Nowdays we know that the units of money must have certain qualities to be successful. They must be:

1. Standard. They must all be of the same kind, look the same, weigh the same, all be of the same type, shape, size and quality.

2. Durable. They must be strong and long-lasting, so that they are a store of value and do not wear out easily.

3. Scarce. They must be difficult to come by to keep their value.

4. Acceptable. They must be accepted as a medium of exchange in a society or country for buying and selling, that is they must be legal tender.

5. Portable. They must be easy to carry.

6. Divisible. It must be possible to divide the units of money of large value into smaller values.

■ Ex. 2. Answer the following comprehension questions based on the text.

1. What role does money play in our everyday life?

2. How did people obtain goods and services in a primitive community?

3. What difficulties did trade by barter involve?

4. What did people realize as primitive communities developed into more advanced societies?

5. What functions does money exercise?

6. What does money mean?

7. What requirements must money meet to be successful?

■ Ex. 3. Say whether the following statements are TRUE or FALSE according to the text.

1. Money is part and parcel of our everyday life.

2. In a primitive community people obtained goods and services with commodity money.

3. Trade by barter is one of the first forms of trade.

4. Trade of barter was not a very suitable way of obtaining goods and services.

5. Money exercises the function of a measure of value because people accept money in exchange for anything.

6. Money means coins, banknotes and e-money.

7. Units of money must be difficult to come by to keep their value.

■ Ex. 4. Put the following sentences in the right order.

A We use money to make payments.

B Money does not depreciate, people accept money in exchange for anything.

C We exchange our money for the services which others provide for us.

D Units of money must have certain qualities to be successful.

E The subject of money is one which concerns us all very closely.

F Units of money must be accepted as a medium of exchange, that is they must be legal tender.

G Trade by barter is the earliest form of trade.

H Money is a necessary part of any civilized society.

■ Ex. 5. Be ready to render the passage in the form of a presentation. Structure your presentation according to the classical model.

SECTION В

Прошедшее неопределенное время

(Simple Past)

Глагол ТО BE

Утвердительная форма

I	was	a bank teller a cash drawer
You	were
Не She It	was
We You They	were	bank tellers

Отрицательная форма

I	was not	a bank teller a cash drawer
You	were not
Не She It	was not
We You They	were not	bank tellers

Вопросительная форма

Was	I	a bank teller a cash drawer
Were	you
Was	he she it
Were	we you they	bank tellers

Сокращения: wasn't=was not

weren't=were not

Другие глаголы

Утвердительная форма

I You He, she, it	worked	in the main office
We You They	paid

Отрицательная форма

I You He, she, it	did not	work	in the main office
We You They		pay

Вопросительная форма

Did	I you he, she, it	work	in the main office?
	we you they	pay

Сокращения: didn't=did not