A_book_of_English_pdf

A book of English

21

tutor [’tјu:t] – керівник групи студентів; наставник to lack – потребуватися будь-чого; відчувати нестаток attendance [’tennd ns] – присутність

query [’kwi ri] – питання; сумнів

to benefit – допомагати, приносити пользу; отримувати пользу (допомо-

гу)

perception – сприйняття, усвідомлення, поняття

relevant [’reliv nt] – доречний, той, що відноситься до справи

Exercises

Exercise 1. Answer the following questions:

1.Why must new technological developments be provided?

2.What can readily be used to take reality in the workplace?

3.What do distance learning programmes consist of?

4.What do they provide?

5.What other features of the programme do you know?

6.Within what period of time can assignments be transmitted, marked and returned?

7.What can provide interactive support to the learning, training and skilling process?

Exercise 2.Arrange these words and word groups in the right order. Use a capital letter to begin each sentence.

1.to be, every company, a software company, appears.

2.developed, at an increasing pace, a variety of purposes, software, to serve,

is.

3.for, the technical integration, future extension, to offer, needs, scalability and openness, flexibility.

4.thousands of dollars, organizations, purchasing, spend, computer hard-

ware.

5.work closely, and management consultants, must, human-resource specialists, hardware and software vendors.

6.these new business models, for clients, are embracing, companies, and, delivering innovative solutions.

Exercise 3.Supply fewer or less in these sentences.

1.The … you pay, the … services you get.

2.People have … money to spend this year.

3.I’ve had … lessons than you.

4.There are … companies competing in this market nowadays.

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5. The … liberalization of the services is, the … service companies will integrate into the trading system and the global economy.

Videoconferencing

Enterprises can save money by cutting back on travel and substituting videoconferences for some face-to-face meetings. The savings come both in actual travel costs and in the costs of having employees out of action during a trip. However, videoconferencing should be implemented with care. The two general categories-conference room systems and desktop systems – have different benefits and drawbacks, but both impose costs and complexities beyond their initial installation.

Room systems are relatively expensive and usually work over switched circuits (generally ISDN), which ensure high quality, but impose ongoing costs.

Desktop systems are relatively inexpensive and work through the enterprise network.

Videoconferencing technology allows people to create the environment of a face-to-face meeting so that fast, interactive decisions can be made, wherever they may be in the world. Unlike email, or even a telephone call, videoconferencing facilitates closer relationships as you can clearly see who you are communicating with and respond to their body language-often essential on international calls when trying to overcome cultural barriers. It also allows individuals to share documents and demonstrate a product or visual concept.

Moreover, ongoing costs will decline and return on investment will increase over time as networks are upgraded and the quality differential declines.

Enterprises can save money with videoconferencing by reducing travel, but neither the initial investment nor the ongoing cost is trivial.

Room-based, circuit-switched conferencing provides the best quality, reliability and ease of use, but with higher initial cost and ongoing line charges. Systems can be installed with ISDN lines and migrated to network protocols when the infrastructure is sufficiently robust.

Learn the active vocabulary

Charges – витрати; плата, вартість

To cut back – зменшувати; скорочувати To decline – зменьшуватися, вбивати Drawback – нестача; перешкода

Employee – робочий, службовець, той хто працює по найму To ensure – забеспечувати, гарантувати

Enterprise – підприємство, підприємництво To facilitate – допомагати, сприяти

Impose – обкладати

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To migrate – переміщуватися, пересуватися

Moreover – крім того, більш того

Ongoing – продовжуючий, непреривний

Robust – важкий, що потребує зусиль

Trivial – незначний

Wherever – де б то не було

Exercises

Exercise 1. Answer the following questions.

1.How can enterprises save money?

2.Why should videoconferencing be implemented with care?

3.Are room systems relatively expensive?

4.What does videoconferencing technology allow?

5.Will return on investment increase over time?

6.What lines can systems be installed with?

Exercise 2. Paraphrase the following sentences referring them to the future and to the past:

1.He may watch television in the evening.

2.You must learn foreign languages.

3.They must pay attention to this postcard.

4.Desktop video appliances can deliver acceptable performance.

5.Uncontrolled conferencing can overload a network and affect the performance of other applications and users.

6.Some products may have difficulty connecting with other types of equip-

ment.

7.To get around the risks of lost business and lost revenue, companies must use application management tools.

Exercise 3. Put the Infinitives in brackets in the Past Indefinite tense. Translate the sentences.

1.We (to provide) an understanding of different customer behavior and preferences two weeks ago. 2. For the business market, our company (to cover) subscriber segmentation, value chain and cost/benefit analysis. 3. Based on market segmentation, they (to design) service feature packages with different pricing approaches. 4. More than a third of the mobile telephone customers worldwide (to use) Prepaid cards last year. 5. By conducting a detailed analysis of the technical solution and investment, the manager (to forecast) a precise cost and profit situation.

Exercise 4. Insert the prepositions.

1. Most of the real benefits your organization will derive … a digital asset management. 2. Mobile business will give rise … new applications and services

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for a variety of everyday transactions. 3. An essential success factor will be the provision of an adequate payment method … consumers and service providers. 4. The company offers a business implementation workshop … the goal of helping to develop an efficient and effective marketing plan. 5. When implementing new technology … the software globalization process, companies will gain most by planning the implementation. 6. The company’s strength is based

…its in-depth industry knowledge. Keys: into, from, for, on, to, with.

Unit 5

Money and its Functions

All values in the economic system are measured in terms of money. Our goods and services are sold for money, and that money is in turn exchanged for other goods and services. Coins are adequate for small transactions, while paper notes are used for general business. There is additionally a wider sense of word "money", covering anything which is used as a means of exchange, whatever form it may take. Originally, valuable metal (gold, silver or copper) served as a constant store of value. Because gold has been universally regarded as a very valuable metal, national currencies were for many years judged in terms of socalled "gold-standard". (The US Government abandoned the gold standard in 1971.)

Nowadays however valuable metal has generally been replaced by paper notes. National currencies are considered to be as strong as the national economies which support them. Paper notes are issued by governments and authorized banks, and are known as "legal tender". Other arrangements such as cheques and money orders are not legal tender. They perform the function of substitute money and are known as "instruments of credit". Credit is offered only when creditors believe that they have a good chance of obtaining legal tender when they present such instruments at a bank or other authorized institution. If man's assets are known to be considerable, then his credit will be good. If his assets are in doubt, then, it may be difficult for him to obtain large sums of credit or even to pay for goods with a cheque.

The value of money is basically its value as a medium of exchange, or, as economists put it, its "purchasing power". This purchasing power is dependent on supply and demand. The demand for money is reckonable as the quantity needed to effect business transactions. An increase in business requires an increase in the amount of money coming into general circulation. But the demand for money is related not only to the quantity of business but also to the rapidity with which the business is done. The supply of money, on the other hand, is the actual amount in notes and coins available for business purposes. If too much

A book of English

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money is available, its value decreases, and it does not buy as much as it did, say, five years earlier. This condition is known as "inflation".

(Tom McArthur. "A Rapid Course in English for Students of Economics". Oxford)

Learn the active vocabulary

value – цінність

transaction – справа, операція, угода a means of exchange – засіб обміну

a store of value – засіб зберігання вартості, засіб заощаджування a constant store of value – постійне нагромаджування вартості

to back (paper, money, currency) – підтримувати, забезпечувати паперові гроші, валюту

store – запас

the store of gold – золотий запас

currency – 1. гроші – звичайно наявні гроші, монети, банкноти, 2. валюта

to abandon the gold standard – відмовитись від золотого стандарту to issue – випускати, пускати в обіг

authorized – офіційно прийнятий, дозволений, санкціонований authorized banks – банки, наділені ухваленими правами, уповноважені

банки

legal tender (banknotes) – законний платіжний засіб, офіційно прийняті державою банкноти

а money order – платіжне доручення

substitute money – передставник платіжних засобів

instruments of credit – кредитні зобов'язання, векселі, чеки, облігації assets – 1. активи, 2. засоби, капітал, фонди

the value of money – вартість грошей

a medium of exchange – 1. засіб обміну, 2. засіб обігу (як функція грошей)

purchasing power – купівельна спроможність to reckon – підраховувати, обчислювати

circulation (of money, capital) – обіг грошей, капіталу

to come into general circulation – поступати в сукупний обіг to put into circulation – пускати в обіг

the demand for money – попит на гроші

the supply of money (money supply) – 1. грошова маса, 2. сума грошей the quantity of business – кількість операцій, об'єм бізнесу

the rapidity of business – швидкість здійснення операцій в бізнесі

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Exercises

Exercise 1. Check your comprehension:

1.What is the role of money and what are its functions?

2.What is the gold standard?

3.Why was the gold standard abandoned?

4.What backs national currencies now?

5.Why was valuable metal replaced by paper money?

6.Who can issue paper money?

7.What are money orders?

8.What function do money orders and cheques perform?

9.In what case can one obtain large sums of credit and even pay for goods with a cheque?

10.What is a purchasing power and what does it depend on?

11.How do we reckon the demand for money?

12.What is the demand for money related to?

13.What condition is known as "inflation"?

Exercise 2. Study text and:

a)give the wider sense of the word "money".

b)pick out derivatives and word combinations with the word "value". Translate them and use in the sentence of your own.

c)find all the terms which you would use speaking about money.

Exercise 3. Give English equivalents of the following:

1. цінність; 2. справа, операція, угода; 3. засіб обміну; 4. підтримувати, забезпечувати паперові гроші, валюту; 5. золотий запас; 6. випускати паперові гроші; 7. законний платіжний засіб; 8. чек 9. платіжне доручення; 10. національна валюта; 11. кредитні зобов'язання; 12. активи; 13. купі-

вельна спроможність; 14. обіг	грошей;	15.	кредитні зобов'язання
16. підраховувати, обчислити; 17.	грошова	маса,	сума грошей в обігу;
18. швидкість здійснення операцій в бізнесі.

Exercise 4. Complete the sentences:

1. All values in the economic system are measured ... .

2 . Nowadays valuable metal has generally been ... .

3.Paper notes are issued by ... .

4.Other arrangements as ... and ... are not legal tender.

5.National currencies are considered to be as strong as ... .

6.An increase in business requires an increase in the amount of ... .

7.But the demand for money is related not only to the quantity of business but … .

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Exercise 5. Translate the following sentences into English in written form.

1.Усі цінності в економічній системі вимірюються грошима.

2.Товари та послуги продаються за гроші і ці гроші обмінюються на інші товари та послуги.

3.Термін "гроші" в широкому розумінні цього слова означає все, що використовується як засіб обміну.

4.Спочатку цінний метал слугував як постійне нагромадження вартості.

5.Багато років національна валюта оцінювалась з точки зору "золотого стандарту".

6.Сьогодні паперові гроші замінили метал, і міцність національних валют оцінюється міцністю національної економіки, яка підтримує їх.

7.Паперові гроші, випущені емісійними банками, є законним платіжним засобом.

8.Чеки та платіжні доручення не є державним платіжним засобом. Вони виконують функцію представника платіжних засобів і відомі як кредитні зобов'язання.

9.Вартість грошей визначається їх вартістю як засіб обміну, або їх купівельною спроможністю. Ця купівельна спроможність залежить від співвідношення попиту та пропозицій.

10.Якщо в обігу дуже багато грошей, їх вартість зменшується та падає їх купівельна спроможність. Ця ситуація відома як інфляція.

Money supply

It is generally accepted that money has three functions in an economy: to act as a medium of exchange, as a store of value and as a unit of account.

As a medium of exchange money enables us to avoid the cumbersome process of barter, whereby products are exchanged against each other. Without money the modern economy as we know it would cease to function, such is the degree of specialization in goods and services.

Money is also useful as a store of wealth since it represents а claim on goods that can be exercised in the future. However, to be a satisfactory store of wealth prices should be stable.

Finally, the units in which money is measured (pounds and pence, dollars and cents) are generally used as the units in which values are expressed and debts defined and measured.

In modern monetary system the money supply consists of coins, bank notes and bank deposits. It should be mentioned that there is another one classification: money has four functions. It serves as a standard of value, as a medium of exchange, as store of value and as a standard of differed payment.

(T. Kempner. The Penguin Management Handbook. London)

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Learn the active vocabulary

standard of value – міра вартості medium of exchange – засіб обігу

store of value – засіб зберігання вартості

standard of differed payment – засіб погашення боргу debts – борги

cumbersome – обтяжливий

Exercises

Exercise 1. Say what you have learned from Text about:

1.the functions of money in an economy;

2.money as a standard of value;

3.money as a medium of exchange;

4.money as a store of value;

5.money as a standard of differed payment.

Exercise 2. Put the Infinitives in brackets in Present Continuous, Present Indefinite or Future Indefinite.

1.My sister (to go) to the bank tomorrow.

2.Look! She (to go) to the bank.

3.Payment (to be made) within two days.

4.Our boss (to read) letters in the morning.

5.He (to open) a letter of credit tomorrow.

6.The manager (to discuss) business matters with clients now.

7.Enterprises (to seek) to achieve a greater percentage of revenue from e- business channels.

8.With proper calculation most identity management deployments (to achieve) return on investment within one or three years.

Exercise 3. Use the correct pronouns:

1.Our boss signs a lot of documents. He signs … in the morning.

2.Mr. Stone is speaking to Mr. Bell now. He is speaking to … about the contract.

3.Kate is our office secretary. I meet … in the office every day.

4.Our office manager meets foreign businessmen and discusses prices for different goods with … .

5.They learn English. Their work helps … to speak English well.

6.Your General Director is reading a letter. He is reading … with great pleasure.

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Types of money: Token and paper money

Most of us use money every day. We see it, touch it, and spend it. But how many of us can define it adequately? Usually money is defined too narrowly. Some define it as the currency of a nation; others think of it in terms of legal tender; still others often refer to it as the medium of exchange. Such definitions, however, automatically exclude large portions of our money. To include all segments of our money supply, we must use a broad definition. Thus, we can say that money is anything that is commonly accepted in exchange for other goods and services.

Commodity money refers to the use of some commodity as money. Many commodities – such as stones, shells, various crops, metal, and paper – have served as money in various countries of the world. American history reveals that tobacco, corn, beads, warehouse receipts, and bank notes, in addition to metal coins and paper currency, have served as money. In fact, many of these monies were given the status of legal tender, which means that they were acceptable for the payment of debts, both public and private.

There are two basic types of modern money, each of considerable importance: token money and paper money. Token or metallic money consists of coins - a special type of commodity money in which a metal such as gold, silver, or copper is used. Paper money takes the form of bills and notes. It may or may not be backed by gold or silver. Although the United States has had various types of commodity money in its history, all American currency today is in the form of paper money and coins.

(T.J. Hailstones and F.V. Mastrianna "Basic Economics". Ohio.)

Learn the active vocabulary

commodity money – товарні гроші beads – бісер

warehouse receipt – товарна квитанція на вантаж, прийнятий до схову (до схованки)

token money – розмінна монета bill – банкнота

note – банківський білет

Exercises

Exercise 1. Check your comprehension, answer the questions.

1.Usually money is defined too narrowly, isn't it?

2.How would you define money and its functions?

3.How do you understand the term "commodity money"?

4.What commodities have served as money in various countries?

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5. How many basic types of modern money are described in the text?

8. Is token money a special type of commodity money or not? 8. Is paper money always backed by gold or silver?

Exercise 2. Study Text and:

a)find a synonym to the word "goods". Use the synonyms in the sentences of your own.

b)give the classification of token money.

c)find all the terms which you would use speaking about money.

Exercise 3. Give English equivalents of the following:

1.валюта: 2. законний платіжний засіб; 3. засіб обміну, розрахунку;

4.грошова маса; 5. розмінна монета; 6. товарні гроші; 7. паперові гроші;

8.підтримувати, забезпечувати (паперові гроші); 9. товар.

Exercise 4. Complete the sentences:

1.Usually money is defined ... .

2.To include all segments of our money supply, we must ... .

3.Thus, we can say that money is ... .

4.Many commodities – such as ... – have served as money in various countries of the world.

5.In fact, many of these monies were given ... .

6.There are two basic types of modern money, each of considerable importance: ... .

7.Paper money may or may not be ... .

8.Although the United States has had various types of ... in its history, all American currency today is in ... .

Exercise 5. Agree or disagree. Give your reasons.

1.Most of us don't use money every day.

2.Usually money is defined adequately.

3.Money is often referred to as the medium of exchange.

4.Commodity money refers to the use of some commodity as money.

5.Commodities and goods are synonyms, aren't they?

6.Tobacco, corn, warehouse receipts, beads have never served as money in the United States.

7.There are two basic types of modern money: token money and paper money.

8.Paper money is always backed by gold or silver.