Tiếng Anh Chuyên Ngành 1 - Unit 11 Money And Its Functions.pptx

Different kinds of moneyCommodity money is a useful good that serves as a medium of exchange.. Token money is a means of payment whose value or purchasing power as money greatly exceeds

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MONEY AND ITS FUNCTIONS

Unit 11:

VOCABULARY

/k m d ti / əˈ ɒ ɪ commodity Loại hàng

/ k r( )nsi /ˈ ʌ ə Currency Tiền tệ

Phương tiện trao đổi

/ k spr s/ɪ ˈ ɛ express Biểu hiện

/ s t( )lm( )nt/ ˈ ɛ ə ə settlement Sự thanh toán

/ k m n / ˈ ɒ ə common chung

/ m ˈ ɛʒə ɒ v valju / ː Measure of value Thước đo giá trị

/ ju n t v ka nt/ ˈ ː ɪ ɒ əˈ ʊ Unit of account Đơn vị thanh toán

/ s mpl f / ˈ ɪ ɪ ʌɪ Simplify Đơn giản hoá

/kənˈteɪn/ contain Chứa đựng

/ ɪnˈstɔːlm(ə)nt / installment Sự trả góp

/k m d ti  m ni/ əˈ ɒ ɪ ˈ ʌ Commodity money Tiền hàng

/ mi d t / ɪˈ ː ɪə immediate Ngay lập tức

/ t ˈ əʊ ə k( )n m ni/ ʌ Token money Tiền dấu hiệu

/ e n ( )nt / ˈ ɪ ʃ ə ancient xưa

/ m t( )l/ ˈ ɛ ə metal Kim loại

/ pr m t v / ˈ ɪ ɪ ɪ primitive Nguyên thuỷ

/t sk  l f( )nt/ ʌ ɛ ɪ ə Tusk elephant Ngà voi

/ l vst k / ˈ ʌɪ ɒ livestock Gia súc

/ˈpəːtʃ əsiη paʊə  / Purchasing power Sức mua

/ k si d/ ɪ ˈ ː exceed Vượt qua

/ m n t( )ri valju / ˈ ʌ ɪ ə ː Monetary value Giá trị tiền tệ

The concept of money

Money is a commodity accepted by general consent as a medium of

economic exchange

The functions of money

Different kinds of money

Commodity money is a

useful good that serves

as a medium of

exchange

Token money is a means

of payment whose value

or purchasing power as money greatly exceeds its costs of production or value in uses other than

as money

Commodity money

Token money

Short Question

1 WHAT IS MONEY ?

Money is a commodity accepted by general consent as a medium of economic exchange

2 What are the functions of money ?

Money has 4 important functions They are:

•A Medium of Exchange

•A Measure of value

•A Store of value

•A Standard of deferred Payments

3 What is a medium of exchange ?

A medium of exchange is anything that is widely accepted in payment for goods and

services and in settlement of debts

4 What is the unit of account?

The unit of account is the unit in which prices are quoted and account are kept.

5 How is money used as a Measure of

Value ?

Money measures value in it units of account The unit of account is the unit in which prices

are quoted and account are kept

Exampt: VND, USD, ERO

6 How is money used as a Store of

value ?

Money is a store of value because it can be used to make purchases in the future If you choose not to buy with your money today, you

can save it to buy in the future

7 How is money used as a Standard of

Deferred Payment ?

When you buy something but do not pay for it immediately, your payment is expressed in term of money to be paid in the future

8 When does money do function poorly as a store of value?

• Money does function poorly as a store

of value when there is inflation in the

economy.

9 How many kinds of money are there?What are they?

• There are 2 kinds of money.They

are:commodity money and token money

9 What is commodity money?

• Commodity money is a useful good that serves as a medium of exchange.

10 What is token money?

• Token money is a means of payment

whose value or purchasing power as

money greatly exceeds its cost of

production or value in uses other than as money.

Secondly,if this function is not exist,other

functions are not performed

2 What is the differences between commodity money and token money ?

money greatly exceeds its cost of production or value

in uses other than a

money

• token money is used more widely than

commodity money because it can be

circulated easily and goverment uses it for controling inflation

• Example commodity money beads,

elephant tusks, furs and so on

• Example token money cash, redit card

and so on.

commodity token

3 Which unit of currency is the strongest?

USD is the strongest currency used in

international transaction and It is one of the

major reserver currency in the world

It is called “ King of currency

Otherwise, Dinar of Kuwait is the highest value currency Because, 1 KWD = 3,5 USD, 1KWD=

2,8 EURO

44 Why does the installment

buying become more and more

• For the government, it helps to increase government revenues from corporate

income tax, reducing the state budget

deficit