
Переведите пожалуйста очень срочно Unit 1. READING AND THE FUNCTIONS OF MONEY Money, with its
special characteristics serves many important economic functions. Money anything that people commonly accept in exchange for goods and services. Money has three basic func- tions. serves as a medium exchange a standard of value, and a store of value. Anything that serves any of these three functions is a type of money. Medium of exchange. The single most important use of money is as a medium of exchange. medium of exchange is any item that sellers will accept in payment goods or serv- ices. As a medium of exchange, money assists in the buying and selling of goods and services because buyers know that sellers will accept money in payment for products or services. Standard of value. The second use money is as a standard of value. That is, money provides people with a way to measure the relative value of goods or services comparing the prices of products. this way, people can judge the relative worth of different items as a television bicycle. They can also judge the relative of two different models or brands of the same type of item by comparing prices. Money's function as a standard value is also important to record keeping. Businesses need figure profits and losses Similarly, governments must be able to figure tax receipts and the cost of expenditures. Money, because it helps provide some uniformity to these accounting tasks, is also called a unit of accounting. Store of value. The third function or role of money is that it can be saved stored for later For money to serve as store of value, two conditions must be met. First, the money must be nonperishable. That is, cannot rot or otherwise deteriorate while being saved. Second, it must keep its value over time. other words, the purchasing power of the money must relatively constant. both of these conditions are met, many people will accumulate their wealth for later use. not, most people will be hesitant about saving money today that will be worth little or nothing tomorrow. Characteristic of Money To be used as money, an item must have certain character- istics. The five major characteristics of money are durability portability, divisibility, stability in value, and acceptability. Durability. Durability refers to money's ability to be used over and over again. Eggs would be a poor choice for money because they are fragile and perishable. Metals such as gold and silver, however, are ideal because they withstand wear and tear well. In fact, many coins minted in ancient times are still in existence. Portability. Money's ability to be carried from one place another and transferred from one person to another is its portability. As a medium of exchange, money must be con- venient for people to use. Items that are difficult to carry make poor money. Divisibility. Divisibility refers to money's ability to be divided into smaller units. Combining various coins permits buyers and sellers make transactions of any size. Divisibility enhances money's use as a standard of value because exact price comparisons between products can be made. Stability in value and acceptability. For money to be use ful as a store of must value. Stability in value encourages saving and maintains money's purchasing power. Most people who save money are confident that it will have approximately the same value when they want to buy something with it as it had when they put it into savings. Acceptability means that people are willing to accept money in exchange for their goods or services. People accept money because they know they, in turn, can spend it other products. Types of Money Money comes in all shapes and sizes. The items used as money are a reflection of the society in which they are used. Money as a rule includes coins, paper money, checks and near money. Checks or checkbook money usually make more than 70 percent of the nation's money supply, and nearly 90 percent of the transactions in most countries are completed by writing checks. Because checks are payable to the holder of the check on demand, checking accounts are often called demand deposits. Checks are representative money because they stand for the amount of money in a person's account. They are generally accepted because the bank must pay the amount of the check when it is presented for payment. Checks, therefore, are considered money because they are a medium of exchange, a standard of value, and a store of value. Other financial assets are very similar to money.

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Unit 1: Reading and the Functions of Money
Money serves several important economic functions, including being a medium of exchange, a standard of value, and a store of value. Let's explore each of these functions in detail.
Medium of Exchange: The primary function of money is to serve as a medium of exchange. This means that money is widely accepted by sellers in exchange for goods and services. Money facilitates the buying and selling of products because buyers know that sellers will accept money as payment.
Standard of Value: Money also serves as a standard of value, allowing people to measure the relative worth of goods and services. By comparing the prices of different products, individuals can determine the relative value of items and make informed purchasing decisions. Money's function as a standard of value is crucial for record-keeping purposes, as businesses need to calculate profits and losses, and governments need to determine tax receipts and expenditures. Money is often referred to as a unit of accounting because it provides uniformity in these accounting tasks.
Store of Value: Another function of money is that it can be saved and stored for future use. For money to serve as a store of value, it must be nonperishable and maintain its value over time. If money meets these conditions, people are more likely to accumulate wealth and save it for later use. However, if money is perishable or loses its value rapidly, individuals may be hesitant to save it.
To be used as money, an item must possess certain characteristics. The five major characteristics of money are:
1. Durability: Money should be durable and able to withstand wear and tear. Fragile and perishable items, such as eggs, would not make suitable money. Metals like gold and silver are ideal because they are durable and can withstand the test of time.
2. Portability: Money should be easily carried from one place to another and transferred between individuals. It should be convenient for people to use as a medium of exchange. Items that are difficult to carry would not be practical as money.
3. Divisibility: Money should be divisible into smaller units to facilitate transactions of any size. The ability to divide money into smaller denominations allows for precise price comparisons and enhances its use as a standard of value.
4. Stability in Value: Money should maintain its value over time. If the purchasing power of money fluctuates significantly, people may be hesitant to save it. Money that retains its value relatively consistently is more likely to be used as a store of value.
5. Acceptability: Money must be widely accepted as a medium of exchange by sellers and recognized as a valid form of payment. If money is not universally accepted, it loses its effectiveness as a medium of exchange.
In summary, money serves as a medium of exchange, a standard of value, and a store of value. It possesses characteristics such as durability, portability, divisibility, stability in value, and acceptability to fulfill these functions effectively.


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