Vocabulary

a buying (purchasing) power – покупательная способность

a measure of value – мера стоимостиa medium of exchange – средство обмена

a store of value – средство накопления

a unit of account – единица расчета

bargain – удачная сделанная покупка (с точки зрения покупателя)

budget – бюджет

cash – наличные

cheap – дешевый

coin – монета

commodity money – 1) товарные деньги; 2) обеспеченные товарами, золотом деньги

cost, costs – стоимость, издержки

cost of living – стоимость жизни

currency – 1) ден. обращение, валюта; 2) деньги (наличные)

expenses – расходы

expensive – дорогой

fare – оплата проезда

fee – гонорар

free, free of charge – бесплатный

income – доход

IOU money – вексельные, долговые деньги

legal tender – законное платежное средство

paper currency – бумажные деньги

plastic cards – пластиковые карты

pocket money – карманные расходы

price – цена

rich – богатый

salary – заработная плата, оклад

standard of living – уровень жизни

to be in debt – быть в долгу

to borrow – брать взаймы

to buy (bought) – покупать

to cost (cost) – стоить

to counterfeit – подделывать

to earn – зарабатывать

to exchange – обменивать

to invest, investments – инвестировать, инвестиции

to lend (lent) – давать взаймы (ссужать)

to make a fortune – сделать состояние

to owe – быть должным

to pay (paid) – платить

to pay off a debt – выплатить долг

to purchase , a purchase – покупать, покупка

to save (for a rainy day) – копить, откладывать (на черный день)

to spend (spent) – тратить

to store up – копить, накапливать

to waste – тратить впустую

token money – символические, знаковые деньги

value – ценность

wage – заработная плата

Comprehension check

I. Give English equivalents to the following:

Cредство платежа, средство обращения, мера стоимости, средство сбережения (средство сохранения сто­имости), единица учета, средство погашения долга, в обмен на, может быть впоследствии использовано, обмениваться товарами и услугами, бартерная экономика, измеряться, обесцененный, платить проценты, покупательная способность, промышленное использование, потребительское использование, деньги — товар, денежные знаки (символические деньги), денежная стоимость, ограничение права, вклад в банке, банковская ссуда, законное платежное средство, долговое обязательство, девальвация, денежная масса, покупательная способность.

II. Read the words and guess their meanings:

Exchange labour services for money, you must hand over in exchange a good or service, a double coincidence of wants, spend a lot of time and effor, make mutually satisfactory swap, a barter economy is wasteful; commodity generally accepted in payment for goods, prices are quoted and accounts are kept, its purchasing power is eroded by inflation, it's usually but not invariably, convenient, cut back on other uses, exceeds its cost of production, by collectively agreeing, the survival of token money, society enforces the use of token money, token money is supplemented by IOU money, interest-bearing bank accounts.

III. Read and translate the terms:

1. Money	— anything that is generally accepted in an economy as a medium of exchange, a unit of account, a store of purchasing power, and a standard of a deferred payment.
2. Medium of exchange	— money that is a convenient means of exchanging goods and services without engaging in barter, what sellers generally accept and buyers generally use to pay for a good or service.
3. Standard of value	— money is a yardstick for measuring the value of all goods and services.
4. Store of wealth	— money serves as a store of wealth by retaining its purchasing power over time.
5. Commodity money	— money serves as both money and a commodity.
6. Face value of money	— the dollar or cents value stamped on a coin.
7. Token money	— coins which have a face value greater than their intrinsic value.
8. Intrinsic value	— the value in the market of the metal in a coin.
9. Paper money	— pieces of paper used as a medium of exchange in the U. S. — Federal Reserve notes and Treasury currency.
10. Fiat money	— money that is decreed as such by the government. It is of little value as a commodity, but it maintains its value as a medium of exchange because people have faith that the issuer will stand behind the pieces of printed paper and limit their production.
11. Bank notes	— were pieces of paper promising to pay a specific amount of money to the bearer in gold.
12. Currency	— the coins and paper that make up the cash in a society.
13. Currency exchange	— buying or selling foreign currencies.
14. Hard currency	— any national currency widely accepted in payment in international markets.
15. Purchasing power	— the value of money; describes the quantity and quality of goods and services one can buy with the money.