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B roker18.2. Warm-up

Before you start reading the unit think and try to answer the following questions:

1. What do we know about the stock market? What is a stock (share)? What is a bond?

2. How are stocks traded in the primary and secondary markets?

3. What components of the stock market are known to you?

4. What is a stock exchange like?

Rapid Reading (skimming, scanning, reading for general understanding

Of the basic Text 18.4)

Work in pairs or small groups.

1. Quickly skim the text to find the paragraph in which the stock market is called paper economy:

Find the paragraph in the text which says where securities are traded.

Scan the text to find that part of it where you can read about the New York Stock Exchange. Tell

Your partner or the group what you have learnt about its functioning.

Local decline for October 1987 was 769 points. Although the point and dollar drops were far larger

Than those of 1929, the loss in terms of percentage of the market was smaller.

A few days after the crash of 1987, the journalist James J. Kilpatrick told his readers: “Those of