III. Agree or disagree with the statements:

1. All values in the economic system are measured in terms of money.

2. Our goods and services are sold for money.

3. Coins are adequate for large transactions.

4. Paper notes are used for general business.

5. A valuable metal served as a constant store of value.

6. Nowadays national currencies are considered to be as strong as the national economies.

7. The demand of money is the actual amount in notes and coins available for business purposes.

8. The supply of money is reckonable as the quantity needed to effect national economy.

9. The demand for money is related only to the quantity of business.

10. Money serves as a store of value.

IV. Answer the questions:

1. How are all values in the economic system measured?

2. What kind of money is used for general business?

3. What is the wider sense of the word “money”?

4. What originally served as a store of value?

5. What is inflation?

V. Match the first part of the sentence (1-5) with the second one (a-e).

1	If too much money is available,	a	are measured in terms of money.
2	The value of money is basically	b	its value decreases.
3	Coins are adequate for small transactions,	c	and money is exchanged for other goods and services.
4	Our goods and services are sold for money,	d	while paper notes are used for general business.
5	All values in the economic system	e	its value as a medium of exchange.

VI. Make up a plan of the text.

VII. Retell the text in a written form (in English or Ukrainian). Text 77. Pricing

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

Deal-making process- торг, to settle a price - домовлятися в ціні, retailing – торгівля в роздріб, revenue – дохід, cost price – собівартість, price control – контроль над цінами, price level – рівень цін, pricing –калькуляція цін, purchase price – купівельна ціна.

II. Listen to the text: Pricing

All products and services have prices. A price depends on different factors, for example, credit terms, delivery, trade-in-allowance, quality etc.

Through most of history, prices were set by buyers and sellers communicating with each other: sellers asked for a higher price than they expected to get, and buyers offered less than they expected to pay. So, through deal - making process they settled a reasonable price.

The necessity of setting one price for all buyers arose with the development of large-scale retailing at the end of the 19^th century. In modern business a price is the only element in the marketing mix that produces revenue: the other elements represent cost.

Companies handle pricing in a variety of ways. In small companies prices are often set by top management rather than by the marketing or sales department. In large companies pricing is typically handled by divisional and product-line managers. In industries where pricing is a key factor (aerospace, oil companies, railroads), companies often establish a pricing department to set prices or assist others in determining appropriate prices. This department reports either to the marketing department or top department. Others who influence the pricing are sales managers, production managers, finance managers and accountants.