What is saving?

Практичне заняття № 43 (45)

Тема: Роль грошей в житті людства, історія виникнення, функції грошей.

3.3.1 The Role of Money in the Life of Humanity. Its History and Functions

Exercise 1 Read and learn the words

a good — товар

to measureе value — вимірювати вартість

to storе — зберігати

obvious — очевидний

service — послуга

to gauge — оцінювати, вимірювати

а bill — вексель

to increasе — збільшувати

unsatisfactory — незадовільний

precise— точний

to recognize — визнавати

tusk — бивень

рrecious metals — дорогоцінні метали

durable — міцний стійкий

divisible— подільний

Exercise 2. Read and translate the text:

Money is used for buying or selling goods, for measuring value and for storing wealth. The most obvious function of money is as a medium of exchange. That means that we can use money to buy goods such as a pair of shoes, clothes, food products. Also, we use money to buy services, such as a haircut or car repairs. We exchange money for a service or a product. Money does more than allows us to buy things. Most of us have saved money. In fact, if you have money in your purse or pocket right now, you have saved money. Perhaps you are saving money until you get enough to buy a new TV set. So, money serves as a store of value. In other words, we don’t have to run out and exchange money for goods or services the moment we get it. Instead, we can hold it as a power to buy something in the future. This is simply called saving. Money also serves as a measure of value. We can use the measure of value to gauge incomes, prices, wealth, and things like that.

The money economy of most societies in the world is based on coins and paper bills of one kind or another. A coin is a piece of metal, usually disc-shaped, which bears lettering, designs or numbers showing its value. Coins are made of metal. Paper money is issued by governments in the forms of bills, which are really “promises to pay”. Paper money is easier to handle and much more convenient in the modern world. Cheques and credit cards are being used increasingly.

Exercise 3. Answer the questions:

What is money used for?

What are the functions of money?

What is saving?

1. What is the money economy based on?
2. What is a coin?
3. Why is paper money more convenient than coins?
4. What other kinds of money do you know?

Exercise 4. Find the following English word-combination in the text:

зберігання статку, очевидний, спосіб обміну, гаманець, заощадженні гроші, вимірювати прибутки.у формі диску, надпис, випускати, банкнота, вид, перебирати, зручний, чек, кредитна картка, все більш і більш.

Exercise 5. Read and translate the text:

In primitive societies a system of barter was used. Barter was a system of direct exchange of goods. Somebody could exchange a sheep, for example, for anything in the marketplace that they considered to be of equal value. Barter, however, was a very unsatisfactory system, because people’s precise needs seldom coincided. People needed more practical system of exchange, and various money systems developed based on goods which the members of a society recognized as having value. Cattle, grain, teeth, shells, feathers, skulls, salt, elephant tusks, and tobacco have all been used. Precious metals gradually took over because, when made into coins, they were portable, durable, recognizable, and divisible into larger and smaller units of value. Until the 18^th and 19^th centuries, coins were given monetary worth based on the exact amount of metal contained in them, but most modern coins are based on face value – the value that governments choose to give them, irrespective of the actual metal content.

Exercise 6. Answer the questions:

1. What was used in primitive societies instead of money?
2. What is barter?
3. Why was barter a very unsatisfactory system?
4. What took over the barter?
5. How were the coins given their monetary worth in 18^th and 19^th century?
6. What is the face value of modern coins?

Exercise 7. Find the following English word-combination in the text:

первісна община, прямий обмін, базар, рівна вартість, незадовільний, певні потреби, співпадати, мушлі, пір’я, череп, бивні слона, поступово, монета, портативний, довготривалий, впізнаний, діли мий, цінність номінальна вартість, незалежно, зміст.

Exercise 8. Make up sentences and translate them:

Exercise 9. Compose the sentences and translate them:

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