Look through the text again and answer the following questions. Think about the definitions to the following terms, write them down and try to remember

Think about the definitions to the following terms, write them down and try to remember.

Match the definitions and try to remember them.

1. Bank	is (are)	a) an agreement by contract to pay money in case of misfortune.
2. Credit	b) money paid for the use of money.
3. Deposit	c) an institution which accepts deposits, makes business loans, and offers related services.
4. Loan	d) something lent for temporary use.
5. Bond	e) a type of savings account that pays higher interest rates.
6. Real estate	f) a certificate of debt issued by a government or corporation guaranteeing payment of money.
7. Account	g) a sum of money kept in a bank which may be added or taken from.
8. Interest rate	h) an official paper showing the permission to do something.
9. License	i) buying goods when they are wanted and paying for them later.
10. Insurance	j) some property in land and houses.

Goldsmiths, reserves, mortgage, clearing, security.

Translate 3 paragraphs into Russian beginning from “Next, the banks have …”

1. What is the history of cheque’s appearance?

2. How was the amount at the goldsmith’s called?

3. Why was keeping some-other’s gold profitable?

4. How do bank owners and managers try to maximize profits?

5. What do profits depend on?

6. What economic services does the bank provide?

7. Can people have money in their banks accounts without depositing any cash? How?

8. What people are called economically unproductive?

9. Why are business people called economically productive in spite of their debts?

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