Ex. 16. Multiple choice. Circle the letter of the item that best complete the statement.

 

1. Money makes the trading process

a) simpler and more efficient

b) longer and more complicated

c) less understandable

 

2. Trading in barter economy

a) doesn’t need a lot of time and effort

b) is very expensive

c) is not wasteful

 

3. Today money consists mainly of

a) paper bills, coins made of various metals

b) shells, dog teeth, buttons

c) pressed leaves

 

4. The Japanese currency is

a) euro

b) yuan

c) yen

 

5. The wealth of individuals is

a) the money they have given on charity

b) their accumulated savings

 c) their inherited property

 

6. Golden coins are the examples of commodity money,

a) because their gold content is a commodity.

b) because they are very beautiful.

c) because gold is very hard and can’t be spoilt.

 

7. Fiat money is paper money the value of which

a) is equal to the value of the material they are made of.

b) is usually more than their value as money.

c) is fixed by government.

Ex. 17.  Put one of these words or expressions in each blank. Use one word twice.

 

a lot of, a lot,   enough,     how much,     less,    more, much,     too much

 

1. I’ve spent ______________ money on books this month. I must spend less next month.

2. She earns ______________ than her sister, but she enjoys her job more.

3. We must go out _________________ this year: we spent far too much on theatre tickets and

babysitting last year.

4. I spent ________________ on transport last year, but I think I will spend less now that I work

closer to home.

5. I spent _________________ on my son’s clothes than on my own last year – he was going

so fast.

6. I didn’t spend ________________ on my holidays last year – I decided to spend more on my

flat instead.

7. Don’t put _________________ in that box or you won’t be able to carry it.

8. _________________ is one euro in your currency?

9. Have you got __________________ or shall I give you some money?

 

Ex. 18. Complete the sentences by inserting one of the following.

                       all              any            each        every

 

1. We sell __________ type you like.

2. We are involved in ___________ the stages of wine production and distribution.

3. We have studied __________ step in the distribution process.

4. We studied _________ of the major wine producers. ________ of them has some advantages.

5. You asked me if we can supply _________ retailer in the north of England. In fact, we can

reach __________ one within thirty mile radius of Newcastle.

6. We are involved in ___________ aspect of wine distribution.

7. ________ major wine production have suffered from the recession.

 

_____________________________________________________________________________

FINAL QUESTIONNAIRE

_____________________________________________________________________________

 

1. What is money?

2. What is a money economy based on?

3. What system was used in primitive societies?

4. In what way are goods in barter economy traded?

5. Why is trading expensive in barter economy?

6. What objects did people use to serve as money?

7. How many functions does money perform?

8. What is the first function of money?

9. What is a medium of exchange?

10. What is the second function of money?

11. What could be a unit of account in ancient ages?

12. What is a unit of account in modern society?

13. What is called currency?

14. What is the third function of money?

15. Why money is a store of value?

16. What is a temporary store of purchasing power?

17. Why do people hold money?

18. In what forms can people keep their wealth?

19. What is the primary task of the central bank all over the world?

20. Why does the central bank regulate the money supply?

21. Why do we need money?

22. What determines the state of the economy?

23. What does the quantity of money affect?

24. Can money be used as property or it can only be used as precious metals?

25. What types of money do you know?

26. What is the value of commodity money equal to?

27. What principal materials have been used for commodity money?

28. Why gold is used in jewelry or dentistry?

29. What is fiat money?

30. Who fixes the value of fiat money?

31. Is the value of material fiat money are made of equal to their value as money?

32. Why do people accept fiat money?

33. What is use of fiat money based on?

34. What are banknotes made from?

35. Are banknotes easy to copy? If not, why?

36. Is the monetary worth of modern coins based on amount of metal contained in them?

37. Why should money be stable?

38. What does term “portable” mean in terms of money?

39. Can money be replaced if it wears out?

40. Why should money be divisible?

41. What new means of payment are introduces in the modern world?

42. What rules the world?

SUPPLEMENTARY READING

 

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