*AMoney is anything that is commonly accepted in exchange for goods or services, Money is a iack-of-all trades: it has many tasks

to perform. In particular it must serve as a medium of exchange, a means of valuation for other goods, and a store of value. In order to perform these fanctions satisfactorily, money should possess five qualities. It ought to be durable (i.e, it should not easily wear out), portable (i.e., it should be light enough to be easily carried around in reasonably large amounts), divisible (i.e., it should be easily melted into small coins), generally acceptable (i.e., it should be universally desired), and its value should be stable from one period to another. Many commodities have served as money at different times in the world's history: the leather money of Carthage; oxen in the days of Homeric Greece; cattle in Roman times; knives and sickles in ancient China, with hoes for small change; shells, furs, brass rods, blocks of salt, dried codfish, cubes of pressed tea, rolls of fabric, bales of tobacco, and bullets; all these and many more have been used. Eventually, however, the precious metals, gold and silver, came to be preferred because of
their superiority over other commodities: they possessed all the qualities mentioned above. It seems that the first gold coins were circulated in Lydia, Asia Minor, towards the 8th century B.C As for paper money, it may have been first used because it was much lighter in weight than metallic money and could be handled more conveniently. On the other hand it is easier to counterfeit. Paper money is a sort of promissory note: the promise being made by a bank or government to pay on demands the face value of the paper. In England for example, the notes issued by the Bank of England have been made legal tender (i.e., no creditor can refuse them if offered in payment of debts). They are now fiduciary notes or inconvertible notes (i.e., a holder has not the right to go to the Bank and to demand gold in exchange). When an increase in the note issue proceeds more rapidly than an increase in goods and services, we get inflation. Then the value of money depreciates and prices rises. Deflation is the converse process.

CLASS : TLE
DURATION : 2H

Money is anything that is commonly

accepted in exchange for goods or services,
Money is a iack-of-all trades: it has many
tasks to perform. In particular it must serve
as a medium of exchange, a means of
valuation for other goods, and a store of
value. In order to perform these fanctions
satisfactorily, money should possess five
qualities. It ought to be durable (i.e, it
should not easily wear out), portable (i.e., it
should be light enough to be easily carried
around in reasonably large amounts),
divisible (i.e., it should be easily melted into
small coins), generally acceptable (i.e., it
should be universally desired), and its value
should be stable from one period to
another.

Many commodities have served as

money at different times in the world's
history: the leather money of Carthage;
oxen in the days of Homeric Greece; cattle
in Roman times; knives and sickles in
ancient China, with hoes for small change;
shells, furs, brass rods, blocks of salt, dried
codfish, cubes of pressed tea, rolls of fabric,
bales of tobacco, and bullets; all these and
many more have been used. Eventually,
however, the precious metals, gold and
silver, came to be preferred because of their
superiority over other commodities: they
possessed all the qualities mentioned
above. It seems that the first gold coins
were circulated in Lydia, Asia Minor,
towards the 8th century B.C

As for paper money, it may have been

first used because it was much lighter in
weight than metallic money and could be
handled more conveniently. On the other
hand it is easier to counterfeit. Paper money
is a sort of promissory note: the promise
being made by a bank or government to pay
on demands the face value of the paper. In
England for example, the notes issued by
the Bank of England have been made legal
tender (i.e., no creditor can refuse them if
offered in payment of debts). They are now
fiduciary notes or inconvertible notes (i.e., a
holder has not the right to go to the Bank
and to demand gold in exchange). When an
increase in the note issue proceeds more
rapidly than an increase in goods and
services, we get inflation. Then the value of
money depreciates and prices rises.
Deflation is the converse process.

I- VOCABULARY
Matching. Match words in list A with their synonyms in
list B.

To pay cash
 c

II- COMPREHENSION
QUESTIONS
1-What is money?
2- What are the functions of money?
3- Why have the precious metals been preferred as
money?
4- Define "legal tender"
5- Define inflation/deflation.

III-LANGUAGE IN USE

Insert the following prepositions in the blank

spaces: in; with; without; for; on; within; by

NB: they can be used more than once.

1- I am sorry not to be.... a position to

comply...........your request.
2 - He got into troubles.......issuing
cheques................funds.
3- When you deposit money......a bank, you must
fill......a paying-in slip.
4. Please get......touch............us at once.
5- Payments....... kind are no longer
accepted......trade.
6- The bank is responsible........the damage which
occurred.
7- Why did you send me the goods cash.......delivery
when I paid cash........order?
8- Our cheque will be credited.........your
account.......the bank ....48 hours.

IV- TRANSLATION
A) Turn into French the following sentences:
Time is money; he earns plenty of money;
he makes a lot of money; he is made of
money; to counterfeit money.
B) Say in English:
c La monnaie est une marchandise qui
permet d'acquérir toutes les autres
marchandises.
c L'or est une marchandise inaltérable, facile
à manier, à fondre et à diviser, et
recherchée par la presque totalité des
hommes.
c Če commerçant règle ses fournisseurs par
virements bancaires.
c L'argent n'a pas d'odeur.