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MONEY AND ITS FUNCTIONS
Money is a commodity commonly accepted as a medium of economic exchange. The idea of money as a universal equivalent is familiar to us since our childhood. Money circulates from person to person and country to country, thus facilitating trade, and it is the principal measure of wealth. Money has four functions:[1] to serve as a medium of exchange , a commodity universally accepted in exchange for goods and services and for the discharge of debts or for the discharge of contracts; [2] to act as a unit of account, the unit that makes the operation of the price system possible and provides the basis for keeping accounts and calculating cost, profit and loss; to serve as a standard of deferred payments, the unit in which loans are made and future transactions are fixed; and[4] to provide a store of wealth, a convenient form in which to hold any income not immediately required for use.
1.2 Соедините слова с их русскими эквивалентами. Перепишите выбранные вами варианты.
1. Commodity a) прибыль
2. Medium of exchange b)содействовать
3. Facilitate c) ценовая система
4. Discharge of debt d) стоимость
5. Discharge of contract e) прибыль
6. Unit of account f) погашение долга
7. Price system g) расчётная единица
8. Keep an account h) исполнение договора
9. Cost i)средство обмена
10. Profit j) вести счёт
1.3 Переведите следующие словосочетания на английский язык и перепишите их.
Обмен; общепринятый; товары и услуги; вести счёт; подсчитывать стоимость , прибыль и убыток; удобный; немедленно; отсроченный платёж.
1.4 Перепишите вопросы и письменно ответьте на них.
1. What is meant by the term “money”?
2. How many functions does money have?
3. What does money serve as?
4. What does money act as?
5. What does money make?
6.What is the fourth function of money?
II. Перепишите предложения, подчеркните инфинитив и определите его форму. Переведите предложения на русский язык.
1. My boss expects me to work overtime.
2. The suspect claimed to have been watching TV at the time of the robbery.
3. Tom’s teacher is worried about him as he seems to be having difficulty coping with his studies.
4. Young children often ask to be taken to the zoo.
5.The manager seems to be getting impatient with the interviewee.
