Ex.7. Fill in the gaps with the correct preposition or adverb.
Date: 2015-10-07; view: 457.
Ex.6. Choose the appropriate word or phrase from the list below to complete the sentences.
| Attribute, an indirect exchange, medium of exchange, barter, credit money, durable, fiat money, high inflation, solve, over time, through space |
1. Without the use of money, trade would be reduced to ______________ .
2. Money is the mechanism that enables parties to make ___________________ of goods and services.
3. It was money that _________________ the basic problems created by barter.
4. Any commodity used as a _______________________ is commodity money.
5. _________________ serves as legal tender by government decree.
6. Examples of _________________ include bank deposits and credit card loans.
7. As a medium of exchange, money transmits value _________________ , and it transmits value _________________ as a store of value.
8. The most essential _________ of money is its recognisability and acceptability.
9. Money must be portable, __________, divisible and stable.
10. In the time of ______________ money may not be a good store of value.
1. In order to get an answer ____ these questions, let us turn ____ the origins of money and examine its principal functions.
2. Money came into being ____ barter.
3. The oldest recorded use of money dates ____ ____ ancient Mesopotamia about 4,500 years ago.
4. ____ , money took the form of commodity money.
5. Representative money refers ____ currency issued by governments or banks and backed by their promises to redeem it ____ a given weight of gold or silver.
6. The value of fiat currency is based ____ trust that people will accept it ____ payment ____ goods and services and that its value will remain ____ stable.
7. Whatever the type of money, it should be judged ____ how well it performs its major functions.
8. In addition ____ these three functions of money, economists often point ____ the fourth criterion – to serve ____ a means of liquidity.
9. Money has a big advantage ____ other assets.
10. Debit cards used for purchases and transaction records could greatly reduce the need ____ cash, but paper currency still has the advantage ____ privacy.
11. The percentage of electronic payments is growing ____ these days.
12. We must admit that despite predictions of a “cashless society” relying ____ electronic payments, the demand ____ currency continues to grow.