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Шургина,Мушинская Методичка 4 курс финансы 111.doc
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  1. Answer the following questions:

    1. What is international trade?

    2. What is export? What is import?

    3. What are the measures to control international trade?

    4. What is a tariff? What is a quota?

    5. What are the main reasons that nations trade with each other?

    6. Give the examples of trading between the countries.

    7. What is the country’s balance of trade?

    8. What are the advantages of free trade?

    9. Is protectionism in some cases justified? Why?

    10. What do you think about the idea that trade is somehow good for world peace?

    11. Before we had money, people bartered the things they produced with their neighbours, for example, textiles for wood, guns for furs. Do people still barter nowadays? Can you think of any examples?

    12. Read the quotation to the lesson. Do you agree?

  1. Complete this text about free trade by completing sentences 1-6 with a-f below:

  1. Free trade exists when goods can be sold freely and flow between countries …

  2. Protectionism is where countries try to protect home producers …

  3. One way they do this is by using tariffs …

  4. Another way is by using quotas which limit ...

  5. Domestic manufacturers often complain that foreign competitors ...

  6. Exporters, on the other hand, often complain about...

a ... from foreign competition and cheap imports.

b ... complicated bureaucracy and complex customs regulations.

с … without restrictions.

d ... the number or quantity of goods that can be imported.

e ... which are a kind of tax on imported goods.

f ... try to destroy them by dumping their goods at very low prices.

  1. Match the words with their definitions:

export restraint agreement

a deliberate policy on the part of governments to erect trade barriers such as tariffs and quotas in order to protect domestic industries from foreign competition

tariff

a voluntary agreement between an exporting country and an importing country that limits the volume of trade in a particular product (or products)

free trade

duty (a form of tax) that is levied on imports

protectionism

the international trade that takes place without barriers such as tariffs, quotas and foreign exchange controls, being placed on the free movement of goods and services between countries

subsidy

the provision of finance and other resources to support a business activity or person by the government

  1. Answer the questions below:

1. What is your philosophy on credit?

a) never borrow money b) use credit in moderation c) get as much credit as you can

2. If you have to ask someone to repay money they owe you, how do you feel?

a) embarrassed b) angry c) nothing, it's only money

3. What would you write to remind someone they owe you money? Why?

a) a text message b) an email c) a letter