Task 3. Put at least five questions to the given text in the Task 1. Task 4. Open the brackets using Present Continuous or в Present Simple.:

Task 4. Open the brackets using Present Continuous or в Present Simple.:

1. I (to write) a composition now.

2. I (not to drink) milk now.

3. I (to go) for a walk after din­ner.

4. I (not to go) to the theatre every Sunday.

5. He (not to read) now.

Task 5. To make up at least three sentences using the words from the Task 2.

Price

In economics, the term “price” denotes the consideration in cash (or in kind) for the transfer of something valuable, such as goods, services, currencies, securities, the use of money or property for a limited period of time, etc. In commercial practice, however, it is normally restricted to the amount of money payable for goods, services, and securities. In other applications, the word “rate” is preferred. Interest rate is the price for temporary use of somebody else’s money, exchange rate is the price of one currency in terms of another.

Price may refer either to one unit of a commodity (unit price) or to the amount of money payable for a specified number of units or for something where units are not applicable, e. g., for five tons of coal (total price) or for a specific painting by Rembrandt.

Prices perform two important economic functions: they ration scarce resources, and they motivate production. As a general rule, the more scare something is, the higher its price will be, and the fewer people will want to buy it. Economists describe that as the rationing effect of prices. In other words, since there is not enough of everything to go around, in market system goods and services are allocated, or distributed, based on their price.

Price increases and decreases also send messages to suppliers and potential suppliers of goods and services. As prices rise, the increase serves to attract additional producers. Similarly, price decreases drive producers out of the market. In this way prices encourage producers to increase or decrease their level of output. Economists refer to this as the production-motivating function of prices.

Prices may be either free to respond to changes in supply and demand or controlled by the government or some other (usually large) organisations.

Variant 10

Task 1. Translate the text “Money”

Task 2. Translate the words into English:

- to produce

- service

- extension

- commodity

- to accept

- to evaluate

- a vital role

- households

Task 3. Put at least five questions to the given text in the Task 1.

Task 4. Open the brackets using Present Continuous or в Present Simple.:

1. He (to play) now.

2. He (to play) now?

3. My mother (to work) at a factory.

4. My aunt {not to work) at a shop.

5. You (to work) at an office?

Task 5. To make up at least three sentences using the words from the Task 2.

Money

The term “currency”, in its general economic sense, is applied to the money of a particular country, such as the U.S. dollar, the French franc, the Swiss franc, the Belgian franc, the Dutch guilder, the German mark, the Austrian shilling, the British pound, the Italian lira, the Japanese yen, Mexican peso, the Spanish peseta, the Australian dollar, the New Zealand dollar, the Hong Kong dollar, etc..

According to their convertibility, currencies can be grouped into three general categories: “convertible currencies”, “semi-convertible currencies”, and “non-convertible currencies”. Convertible currencies are those which can be freely bought and sold in the foreign exchange markets, at the rates of exchange prevailing at the time of purchase or sale. Semi-convertible currencies can be bought and sold only through the local central bank, at predetermined rates of exchange. A large number of third-world currencies fall into this category. Transactions are limited to commercial deals. Non-convertible currencies are those whose circulation is restricted by the local monetary authorities. The rates of exchange are artificially pegged, usually at a level much higher than the rates prevailing on the black market, or parallel market, which inevitably develops. Most Eastern European countries had non-convertible currencies.

In practice, there are three main convertible currency areas: the U.S. area, which comprises essentially the U.S. and Canadian dollars; the European area, with the currencies of Western Europe; and the Asian area, with the Japanese yen and the Hong Kong, Malaysian, and Singapore dollars. The governments of these countries allow unregulated purchases and sales, and the amounts of money exchanged in the foreign exchange markets are very large.

The world’s major currency is the U.S. dollar, followed by the pound sterling, the D-mark, and the Japanese yen. The importance of the U.S. dollar stems from a number of factors, some domestic and some international: the United States has the world’s largest capital market, and there are more dollars in the world than all other major currencies put together. Invoicing for raw materials and commodities, especially oil, gas, and wheat, is in U.S. dollars.

Variant 11

Task 1. Translate the text “Banks”

Task 2. Translate the words into English:

- segmentation

- development

- company

- consumer

- purpose

- distribution

- strategy

- market

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