TEXT 11

Money and its functions

The main function of money is its acceptance as a means of payment or medium of exchange. People work for money. They buy and sell goods in exchange for money. Money is the medium through which people exchange goods and services.

But money has also other functions. Money is a standard of value, a unit of account, a store of value.

Vocabulary

means of payment – средство платежа

medium of exchange – средство обращения

a standard of value – мера стоимости

a unit of account – единица учета

a store of value средство сбережения

Comments:

1. Money (noun) is followed by a verb in the singular form.

Money has a number of functions.

Money was lost yesterday.

2. Means (pl.) – средство, средства

a means of conveyance – транспортное средство

means of communication – средства связи

TASKS

Task 1. Find in the text irregular verbs and give their forms.

Task 2. Use a dictionary and find out the difference between the following words:

means – mean

Task 3. Trite down English equivalents for the following:

1. деньги;

2. средство обращения;

3. средство платежа;

4. мера стоимости;

5. единица учета.

Task4. What other nouns which are followed by a verb in the singular form do you know?

Task 5. Which one doesn’t go with the line?

1. money, currency, main, value;

2. of, in, after, which, with;

3. payment, account, buy, function.

Task 6. Translate Russian words in the gaps into English.

The main функция is its acceptance as средство платежа or средство обращения. People работают for money. They buy and sell товары in exchange for money. Money is средство through which people exchange goods and услуги. But деньги has other functions. Money is мера стоимости, единица учета, средство сбережения.

Task 7. Answer the following questions.

1. What functions of money do you know?

2. Which function of money is the most important?

3. Why do you consider it the most important?