Choose the word or word combination to match the definition. 1. A charge paid to a person or a bank for the money borrowed. a) loan b) interest c) rent
1. A charge paid to a person or a bank for the money borrowed.
| a) loan | b) interest | c) rent |
2. Illegally giving someone money so that they act in your favour.
| a) racket | b) money laundering | c) bribery |
3. A book that lists all payments into and withdrawals from a customer's bank account.
| a) bank statement | b) bank book | c) bank deposit |
4. The most important bank in a country that controls a nation's policy on money and interest rates.
| a) development bank | b) major bank | c) central bank |
5. A bank that specializes in raising capital for industry.
| a) savings bank | b) merchant bank | c) national bank |
6. An account with a bank for personal savings.
| a) savings account | b) capital account | c) correspondent account |
7. The central banking system of the USA.
| a) Commercial Bank | b) National Bank | c) Federal Reserve System |
8. A system of making payments by having money transferred from an account.
| a) direct mail | b) direct debit | c) direct export |
9. A customer's instruction to a bank to pay a certain amount to another person or organization at regular intervals.
| a) standard rate | b) statement of account | c) standing order |
10. A free trade association with a common currency and unrestricted movement of capital goods and people between countries.
| a) firm market | b) single market | c) profitable market |
11. The unit of currency of the European Union.
| a) dollar | b) euro | c) pound |
12. The coins and banknotes that belong to a particular country.
| a) benefit | b) currency | c) transaction cost |
13. Money that can be exchanged for the currency of another country.
| a) convertible currency | b) counterfeit currency | c) controlled currency |
14. A group of countries in Europe working to create a stronger world market for European goods and services.
| a) European Commission | b) European Union | c) United Nations |
15. The amount of money that a person, an organization or a country has to buy goods and services.
| a) active power | b) economic power | c) purchasing power |
16. The amount of money spent on a piece of business done.
| a) actual cost | b) transaction cost | c) contract cost |
17. An agreement with a company in which the company will pay for a loss or accident in exchange for regular premiums (payments).
| a) insurance | b) installment | c) insulation |
18. A large amount of money, goods or property.
| a) value | b) wealth | c) cost |
19. Disguising the criminal origin of money such as drug money.
| a) money order | b) money supply | c) money laundering |
20. Change for small purchases.
| a) near money | b) pocket money | c) cheap money |
Unit Vii International business
Lesson 1
Text: International Trade
Grammar: The Infinitive
Terms to remember:
| international trade | ™ | міжнародна торгівля |
| consume (v) | ™ | споживати |
| unobtainable | ™ | недосяжний, недоступний |
| domestic | ™ | вітчизняний, внутрішній |
| living standard | ™ | життєвий рівень |
| protectionist measures | ™ | протекціоністські заходи |
| tariff | ™ | тариф |
| quota | ™ | квота |
| exchange control | ™ | валютне регулювання |
| national producer | ™ | національний виробник |
| barrier | ™ | бар’єр |
| free trade | ™ | вільна торгівля |
International Trade
International trade is the exchange of goods and services between countries. It enables countries to obtain some goods and services more cheaply than they could produce them for themselves or to consume goods and services which would otherwise be unobtainable from domestic supply sources.
Through international trade countries can improve their living standards. International trade keeps domestic prices down by creating competition at home and provides large markets abroad.
Governments can control international trade. The most common protectionist measures are tariffs(a taxon imported goods), quotas (the maximum quantity of a product allowed into a country during a certain period of time), exchange controls. They raise the price of imported goods to protect national producers.
The international trade that takes place without barriers such as tariffs, quotas and exchange controls is called free trade.
Free trade area is a form of trade integration between a number of countries, in which members eliminate all trade barriers among themselves on goods and services, but each continues to operate its own barriers against trade with the rest of the world.
Exercises in Word Study
Ex.1. Form nouns from the following verbs:
produce, consume, improve, control, protect, integrate, eliminate, operate, supply.
Ex.2. Give the English for:
міжнародна торгівля; покращувати життєвий рівень; контролювати міжнародну торгівлю; протекціоністські заходи; валютне регулювання; підвищувати ціни на імпортні товари; захищати національного виробника; вільна торгівля; усувати всі торгові бар’єри.
Ex.3. Match words from list A with words from list B that have a similar meaning:
| A | B |
| obtain produce consume domestic raise protect barrier | obstacle defend internal elevate use up manufacture get |
Ex.4. Find suitable opposites to the following words and phrases:
domestic; cheaply; obtainable; to raise the price; international trade.