Vocabulary Focus

1. Complete the definitions.

a) to trade by exchange of commodities rather than by the use of money is to …;

b) … is a system of organizing the manufacture of goods in a series of separate operations, each of which is carried out by a different worker or group of workers;

c) a piece of metal stamped and issued by the government for use as money is a …;

d) a … is someone whose business is to supply a particular service or commodity;

e) to … means ‘to make easier or less difficult’.

2. Complete the sentences with the words from the box. Mind grammar forms.

valuable

a unit of account

facilitate

durable

eliminate

a medium of exchange

1. Careful planning … any kind of work.

2. The company plans to … more than 2,000 jobs in the coming year.

3. The machines have to be made of … materials.

4. … is a standard monetary unit of measurement of value of goods, services, or assets.

5. Something commonly accepted in exchange for goods and services and recognized as representing a standard of value is … .

6. This painting is extremely … .

3. Match the verbs on the left with nouns on the right to make phrases from the text.

Translate them and use in the sentences of your own.

to use in
to purchase	transactions
to create	goods and services
to facilitate	difficulties
to eliminate
to obtain

Talking Points

1. Think and say whether you agree or disagree with the following quotations and proverbs. Be ready to express your opinion and give their Russian equivalents.

a) A penny saved is a penny earned.

b) Lend your money and lose your friend.

c) Money talks.

d) Never spend your money before you have it.

2. Plastic money has become the alternative to cash or standard money nowadays. In small groups brainstorm the questions: Are credit cards a form of money? If not, why do we call them ‘plastic money’? What are their advantages and disadvantages?

3. What do you know about WebMoney? How can people use it and why is it convenient?

Summary Points

1. Read the passage. What title can you suggest?

Most of the money used by business comes from the sale of its products and services. Since these funds come from within the firm they are described as internal funds. The rest must come from outside, or external funds.

As a firm sells its products or services, it receives money, which it uses to meet its expenses. One of these expenses, depreciation, represents the cost of replacing assets (like tools, machinery, and buildings) that wear out. Typically, businesses use internal funds to cover the cost of depreciation.

Notes:

internal / external – внутренний / внешний

depreciation – изнашивание (в результате износа и морального устаревания); списание стоимости;

wear out – изнашивать(ся)

2. What is the main idea of the passage?

3. What have you learned from this passage? Use the given expressions.

The author describes (discusses, studies, offers, states, analyzes) …	автор описывает (обсуждает, изучает, предлагает, утверждает, анализирует) …
On the one hand … on the other hand …	С одной стороны…; с другой стороны …
After reading the passage I have understood …	Прочитав отрывок, я понял(а) …