Матеріали до занять з дисципліни "Іноземна мова(за професійним спрямуванням)" спеціальності 071 "Облік і оподаткування" за темою: "MONEY"

ЗАНЯТТЯ 15

Робота з іншомовними джерелами  професійного характеру. Гроші

1.Ознайомтесь з практичним матеріалом заняття.

2. Прочитайте та перекладіть тексти «Glimpses of history of money», «MONEY» за допомогою словника.

3.   Виконайте вправи після тексту.

І. Glimpses of history1 of money

At different periods of time and in different parts of the world many

different commodities have served as money. These commodities2 were: cattle,

sheep, furs, leather, fish, tobacco, tea, salt, shells etc. The experts underline that

to serve effectively as money, a commodity should be fairly durable, easily

divisible, and portable. None of the above-mentioned3 commodities possessed

all these qualities, and in time they were superseded by precious metals.

First they were superseded4 by silver and later by gold.

When a payment was made the metal was first weighed out. The next

stage was the cutting of the metal into pieces of definite weight and so coins

came into use. Paper money first came into use in the form of receipts given by

goldsmiths in exchange for deposits of silver and gold coins. After goldsmiths

became bankers their receipts became banknotes. That's how the first banknotes

came into existence5. At first coins were worth6 their face value7 as metal. But

later token coins8 of limited value as legal tender were issued. Now smaller

denomination coins are made from bronze and are often referred to as coppers.

Bigger denomination coins are made from cupronickel and are usually called

silver.

Vocabulary

1glimpses of history – дещо про походження;

2commodity – предмети вжитку;

3above-mentioned – вищезгаданий;

4to supersede – замінювати;

5to come into existence – виникнути, з’явитися;

6worth – ціна;

7face value – номінальна вартість;

8token coin – розмінна монета.

ІІ. 1. Read, translate (into Ukrainian) and retell (in English) the text.

MONEY

Money is any token or other object that functions as a medium of exchange that is socially and legally accepted in payment for goods and services and in settlement of debts. Money also serves as a standard of value for measuring the relative worth of different goods and services and as a store of value. Some authors explicitly require money to be a standard of deferred payment.

Money includes both currency, particularly the many circulating currencies with legal tender status, and various forms of financial deposit accounts, such as demand deposits, savings accounts, and certificates of deposit. In modern economies, currency is the smallest component of the money supply.

Money is not the same as real value, the latter being the basic element in economics. Money is central to the study of economics and forms its most cogent link to finance. The absence of money causes an economy to be inefficient because it requires a coincidence of wants between traders, and an agreement that these needs are of equal value, before a barter exchange can occur. The efficiency gains through the use of money are thought to encourage trade and the division of labour, in turn increasing productivity and wealth.

Money is generally considered to have the following characteristics, which are summed up in a rhyme found in older economics textbooks and a primer: “Money is a matter of functions four, a medium, a measure, a standard, a store”.

There have been many historical arguments regarding the combination of money’s functions, some arguing that they need more separation and that a single unit is insufficient to deal with them all. ‘Financial capital’ is a more general and inclusive term for all liquid instruments, whether or not they are a uniformly recognized tender.

In economics and business, the price is the assigned numerical monetary value of a good, service or asset. The concept of price is central to microeconomics where it is one of the most important variables in resource allocation theory (also called price theory).

Price is also central to marketing where it is one of the four variables in the marketing mix that business people use to develop a marketing plan. In ordinary usage, price is the quantity of payment or compensation for something. People may say about a criminal that he has ‘paid the price to society’ to imply that he has paid a penalty or compensation. They may say that somebody paid for his folly to imply that he suffered the consequence.

Economists view price as an exchange ratio between goods that pay for each other. In case of barter between two goods whose quantities are x and y, the price of x is the ratio y/x, while the price of y is the ratio x/y. This however has not been used consistently, so that old confusion regarding value frequently reappears. The value of something is a quantity counted in common units of value called numeraire, which may even be an imaginary good. This is done to compare different goods. The unit of value is frequently confused with price, because market value is calculated as the quantity of some good multiplied by its nominal price. Theory of price asserts that the market price reflects interaction between two opposing considerations. On the one side are demand considerations based on marginal utility, while on the other side are supply considerations based on marginal cost. An equilibrium price is supposed to be at once equal to marginal utility (counted in units of income) from the buyer’s side and marginal cost from the seller’s side. Though this view is accepted by almost every economist, and it constitutes the core of mainstream economics, it has recently been challenged seriously.

2. Make 5 questions to the text and answer them.

3. Translate into English.

1. Функції грошей, що виокремлюються в сучасній економічній літературі, відображають динамічні процеси, що відбуваються, і збагачують ці відносини якісними змінами. 2. Першою функцією грошей є функція міри вартості, тобто їх спроможність вимірювати вартість усіх товарів, слугувати посередником при визначенні ціни. 3. Товари порівнюють за допомогою грошей тому, що вони, як і гроші, є продуктами людської праці, мають однорідну з ними базу порівняння — абстрактну працю. 4. Виражена у грошах вартість товару є ціною. 5. Ціна, або грошова форма товару, — це форма лише ідеальна. 6. Вартість взуття, одягу, автомобілів, гаджетів тощо існує хоча і невидимо в самих речах, вона виражається в їх відношенні до золота. 7. Ціну може мати тільки той товар, що знаходиться у відносній формі вартості. 8. Самі гроші ціни не мають, їх вартість не може бути виражена в них же самих. 9. Замість ціни гроші володіють купівельною спроможністю, яка виражається в абсолютній кількості товару, що можна за них купити. 10. Масштаб цін має юридичний характер, залежить від волі держави і слугує для вираження не вартості, а ціни товару. 11. Через масштаб цін ідеальна, уявна ціна, що надається товару як показник величини вартості, перетворюється у прейскурантну або ринкову ціну, виражену в національній грошовій одиниці.