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Grammar exercises. V. Discuss these questions with your partner




V. Discuss these questions with your partner.

III. Choose the correct word or phrase.

1. One reason why people buy gold is because it holds its value/is taken for granted.

2. When we buy things, we swap/represent money for goods.

3. Diamonds are valuable because they are so intrinsic/rare.

4. The dollar is the cash/currency of the USA.

5. When people barter/guarantee goods, they simply exchange one good for another.

6. Banks will only lend to people who can guarantee/ barter back the loan.

7. Some shops won’t accept credit cards. They will only take cash/ currency.

8. When something holds the value/is taken for granted, people don’t think it has great value.

9. Coins and notes are used to swap/represent value.

 

10. Metals have intrinsic/rare value because they can be used to make things.

11. If money can easily be moved around and used, we say it has liquidity/currency.

12. Centuries ago people paid using commodity money/flat money such as gold and silver.

13. Commodity money/flat money like banknotes and coins has no intrinsic value. It only represents value.

IV. Read through the statements below. Do you think they are
true or false?

1. The earliest kind of money was used about 3,000 years ago.

2. Shells were used as a kind of flat money.


3. The first metal coins appeared in Greece.

4. The first coins were round.

5. Paper money first appeared in China.

6. The idea of paper money travelled quickly to Europe.

— What is money?

— Can anything be used as money?

— Could stones and leaves be used instead of coins and notes?

VI. Say what you have learned about:

— History of money

— A system called bartering

— Commodity money

— Drawbacks of bartering

— Flat money

VII. Translate the sentences (§ 15).
Practise the use of Present Participle.

1. Imposing some restrictions of food prices, governments make it possible for all the people to buy enough food. 2. The 3.8 billion people of the world in the early 1970s had about 20 percent more to eat than the 2.7 billion living 20 years earlier. 3. The government can regulate monopolies controlling the prices or supplying the products itself. 4. Knowing that their resources are limited people make a decision how to allocate them in the best possible way. 5. Governments intervene in economics controlling the supply of money and helping private industries. 6. The high price for a good is the market mechanism telling suppliers it is time to increase production. 7. The developing countries hope that industrial countries will raise imports from the less developed countries. 8. Income is money of all kinds coming in regularly to a person, family or organization. 9. Active money is money going from man to man and used by people. 10. Reducing our imports, we decrease the exports of others.


VIII. Supply the correct forms of the verbs (§11). Translate the sentences.

1. The economists (to monitor) the prices and levels of consumption of different goods and services. 2. This company (to make) a decision to start producing new machines. 3. The ideas of Adam Smith (to study) by economists for over two hundred years. 4. Grain markets (to change) over the last 30 years in Europe. 5. The Soviet government (to play) an important role in allocating resources in the economy. 6. Economists` recommendations (to be) of high value in future reconstruction of this branch of production. 7. They (to use) professional marketing services in difficult cases. 8. In a free market economy economic decisions (to make) by firms and individuals.




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