Ex.6. Choose the appropriate word or phrase from the list below to complete the sentences

Ex. 3. Give three forms of the following verbs. Find the sentences with these verbs in the text.

Ex.2. Give Ukrainian equivalents of the following words and phrases.

Ex.1. Find the English equivalents in the text.

VOCABULARY FOCUS

Співпадання потреб, товарні гроші, представницькі гроші, кредитні гроші, нерозмінні паперові гроші, банкноти і монети, золотий стандарт, у якості посередника, виконувати функції засіб обміну, міра вартості, засіб накопичення (засіб збереження вартості), рахункова одиниця, еталон вимірювання, ліквідний засіб, законний платіжний засіб, єдина валюта, переказ (грошей), банківський рахунок, гарний приклад, наріжний камінь.

The concept of money, the origins of money, the emergence of money, the most essential attribute, general characteristics, solve the basic problems, a range of goods, coincidence of wants, precious metals, perishable goods, any commodity or token, a monetary unit, the value of currency, a fixed amount of, difficult to counterfeit, evolve (into), in payment for, for this purpose, the gold standard, electronic payments.

Become, begin, buy, find, get, give, grow, keep, let, make, overcome, pay, sell, speak, spend, take, tell, understand, withstand.

Ex. 4. Match the words on the left with their definitions on the right.

	barter	a	a medium of exchange in which money is a commodity generally accepted because it has value as a good and as money
	money	b	anything generally accepted as payment for goods and services as well as for settlement of debts
	currency	c	a direct exchange of one commodity for another, without the use of money
	commodity money	d	money issued by the government but not backed by any commodity and is absolutely irredeemable
	representative money	e	an economic process in which prices increase so that the purchasing power of money falls
	fiat money	f	paper money issued by a government or a bank and backed by their promises to redeem it for a given weight of precious metal, specifically gold or silver
	inflation	g	money that is used in a particular country

Ex. 5. Find in the text the words which go in pair with: currency, barter, exchange, money, function, value, duplication. You can add other word collocations. Give examples either from the text or of your own.

Model: currency → national/international, local/foreign, weak/stable/hard currency, the single European currency

e.g. A stable currency means that your savings do not diminish in value. You can always convert euro into your local currency.

Attribute, an indirect exchange, medium of exchange, barter, credit money, durable, fiat money, high inflation, solve, over time, through space

1. Without the use of money, trade would be reduced to ______________.

2. Money is the mechanism that enables parties to make ___________________ of goods and services.

3. It was money that _________________ the basic problems created by barter.

4. Any commodity used as a _______________________ is commodity money.

5. _________________ serves as legal tender by government decree.

6. Examples of _________________ include bank deposits and credit card loans.

7. As a medium of exchange, money transmits value _________________, and it transmits value _________________ as a store of value.

8. The most essential _________ of money is its recognisability and acceptability.

9. Money must be portable, __________, divisible and stable.

10. In the time of ______________ money may not be a good store of value.

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