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Welcome!!!
LECTURER : Mrs. THUY HUONG
GROUP : 02
CLASS

: 15.03 LT.1

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Unit 11:

MONEY AND ITS FUNCTIONS
Members
1. Dương Hoàng Anh
2.Nguyễn Thị Dương
3. Trịnh Thị Nhung
4. Phạm Thị Chuyên
5. Nguyễn Hồng Vân

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Preview

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vocabulary

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VOCABULARY
New words

Currency

(n) ['kʌrənsɪ]

Definition

Example

Tiền tệ

US dollars and Euro are considered as strong
currenciess

Consent

(n) [kən'sent]

Sự đồng lòng, sự chấp nhận

You have my consent to leave

chung


Medium of exchange

(n) 'mɪːdɪəm] [ɪksˈtʃeɪndʒ]

Phương tiện trao đổi

A medium of exchange is most commonly a
currency, but it may be a commodity such as
gold, silver, or even seashells

Commodity

(n)[kə'mɒdətɪ]

Hàng hóa

If you're going into teaching, energy is a
necessary commodity.

Settlement

['setlmənt]

Sự thanh toán

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A medium of exchange is anything that is widely



VOCABULARY
New words
Measurements

 ['meʒə(r)mənt]

Definition

Example

Sự đo lường, phép đo

The test is based on the measurement of
blood levels.

Payment

(n) [ˈpeɪmənt]

Thanh toán, khoản thanh toán

It is reasonable to expect proper payment
for this work.

Exceed

(v)   [ɪk'siːd]

Vượt trội


This exceeds all my expectations

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READING

 The concept of money: Money is a commodity accepted by general consent as a
medium of economic exchange. It is the medium in which prices and values are
expressed. It circulates from person to person and country to country, then facilitating
trade, and it is the principal measure of wealth.

1.

What is the concept of “money” ?
Money is a commodity accepted by general consent as a medium of economic

exchange. It is the medium in which prices and values are expressed.

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 The concept of money

 Khái niệm tiền:

Money is a commodity accepted by general

Tiền là một loại hàng hóa được chấp nhận chung


consent as a medium of economic exchange.

như phương tiện trao đổi. Nó là một phương tiện

It is the medium in which prices and values

nơi mà giá cả và giá trị được biểu hiện. Nó được lưu

are expressed. It circulates from person to

thông từ người này sang người khác, từ nước này

person and country to country, then

sang nước khác, tạo thuận lợi cho thương mại và nó

facilitating trade, and it is the principal

cũng là thước đo cơ bản cho sự giàu có.

measure of wealth.

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READING

 The function of money:
All modern societies use money. With money people can easily trade goods and services with one
another. That is money promotes trade. Money serves as a medium of exchange, a measure of or a unit of

account, a store of value and a standard of deferred payments. We discuss each of these functions of money in
turn.

2. What are the functions of money ?
.Money has 4 important functions. They are:
•. A Medium of Exchange
•. A Measure of or Value
•. A Store of Value
•. A Standard of Deferred Payments

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 The function of money:

 Các chức năng của tiền
Mọi xã hội hiện đại đều sử dụng tiền. Nhờ có nó con

All modern societies use money. With money people
can easily trade goods and services with one another.
That is money promotes trade. Money serves as a
medium of exchange, a measure of or a unit of
account, a store of value and a standard of deferred
payments. We discuss each of these functions of

người dễ dàng trao đổi hàng hóa và dịch vụ với nhau.
Điều đó có nghĩa là tiền góp phần thúc đẩy thương mại.
Tiền cung cấp các chức năng như là một phương tiện
trao đổi, một phương pháp hoặc một đơn vị tính toán, lưu
trữ giá trị và phương tiện trả chậm. Chúng ta sẽ cùng

thảo luận lần lượt về từng chức năng của tiền.

money in turn.

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READING

 Money as a medium of exchange: Workers exchange labour services for money.
People buy or sell goods in exchange for money. Money is a medium through which people exchange
goods and services.
What is a medium exchange? A medium of exchange is anything that is widely accpected in
payments for goods and services and in settlement of debts. Money is the most common medium of
exchange.
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.

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READING

 Money as a medium of exchange: Workers exchange labour services for money.
People buy or sell goods in exchange for money. Money is a medium through which people
exchange goods and services.
What is a medium exchange? A medium of exchange is anything that is widely accpected in
payments for goods and services and in settlement of debts. Money is the most common medium
of exchange.

4. How is money used as a medium of exchange?

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4. How is money used as a medium of exchange?

Money is used as a medium of exchange:
-Workers exchange labour services for money.
-People buy or sell goods in exchange for money. Money is a medium through which people
exchange goods and services

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Money as a medium of exchange:
Workers exchange labour services for money.

Tiền mang chức năng là một phương tiện trao
đổi:

People buy or sell goods in exchange for money. Money is a

Người lao động trao đổi sức lao động thông qua tiền.

medium through which people exchange goods and services.

Con người mua hoặc bán hàng hóa để đổi lấy tiền. Tiền là

What is a medium exchange? A medium of exchange

is anything that is widely accpected in payments for goods
and services and in settlement of debts. Money is the most
common medium of exchange

một phương tiện trao đổi thông qua cách con người trao đổi
hàng hóa và dịch vụ.
Vậy phương tiện trao đổi là gì? Phương tiện trao đổi
là bất cứ thứ gì được chấp nhận rộng rãi trong thanh toán
hàng hóa, dịch vụ và giải quyết các khoản nợ. Tiền là
phương tiện trao đổi phổ biến nhất

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READING

 Money as a Measure of Value: The second function of money is as a measure of value.
Just as we need measurements for distances, weights, and energy, so we need
measurements for the value of things offered at the market. Money measures value in
its units of account. The unit of account is the unit in which prices are quoted and
account are kept. In Britain, prices are quoted in pound sterling. In the United States
dollar, and in Vietnam VND. The use of such units helps simplify the exchange of
goods.

 5. How is money used as a unit of account?

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5. How is money used as a unit of account?


Money measures value in its units of accounts.
The unit of account is the unit in which prices are quoted and account
are kept.
Exampt: VND, USD, ERO

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 Money as a Measure of Value:

 Tiền mang chức năng thước đo giá trị:
Chức năng thứ hai của tiền đó là thước đo giá trị. Giống như

The second function of money is as a measure of

chúng ta cần đơn vị đo cho khoảng cách, trọng lượng và năng lượng,

value. Just as we need measurements for distances, weights,

vì thế chúng ta cũng cần thước đo cho những thứ được cung cấp trên

and energy, so we need measurements for the value of things

thị trường. Thước đo giá trị của tiền thể hiện trong đơn vị của nó.

offered at the market. Money measures value in its units of

Đơn vị của tiền là nơi giá cả được biểu hiện và giá trị được lưu giữ.


account. The unit of account is the unit in which prices are

Tại Anh, giá được biểu hiện bằng bảng Anh. Tại Mĩ là đồng đô la

quoted and account are kept. In Britain, prices are quoted in

Mỹ, và ở Việt Nam là Việt Nam đồng. Việc sử dụng các đơn vị này

pound sterling. In the United States dollar, and in Vietnam

sẽ giúp dễ dàng hơn trong việc trao đổi hàng hoá.

VND. The use of such units helps simplify the exchange of
goods

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READING

 Money as a Store of Value: Money also functions as a store of value.
Money is a store of value because it can be used to make purchases in the future. This
means that is we not choose not to buy with our money, we can save it to buy in the future. If
money were a perfect of value, we could buy the same items next year as we could today with
the same amount of money. But money does function poorly as a store of value when there is
inflation in the economy.
5. How is money used as a Store of value?

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5. 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.
Ex: If you choose not to buy with your money today, you can save it to buy in the future

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Money as a Store of Value:
Money also functions as a store of value.
Money is a store of value because it can be used to make
purchases in the future. This means that if we choose not to
buy with our money today, we can save it to buy in the future.
If money were a perfect of value, we could buy the same
items next year as we could today with the same amount of
money. But money does function poorly as a store of value
when there is inflation in the economy.

Tiền mang chức năng là phương tiện cất trữ:
Tiền cũng có chức năng là phương tiện cất trữ.
Tiền có thể làm phương tiện cất trữ bởi vì nó có thể được sử
dụng để mua sắm trong tương lai. Điều đó có nghĩa là nếu hôm
nay chúng ta không mua, chúng ta có thể tiết kiệm chúngvà mua
nó trong tương lai. Nếu như tiền cógiá trị hoàn hảo, chúng ta có
thể mua cùng một mặt hàng ở ngày hôm nay vào năm sau với
cùng một lượng tiền. Nhưng điều đó rất khó để xảy ra nếu như
nền kinh tế có tình trạng lạm phát.

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READING

 Money as a Standard of Deferred Payments: The last function of money is a standard of
deferred of payments or unit of account aver time. 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. With
the wide use of installment buying, this function of money has become increasingly
important.

 5. How is money used as a Standard of Deferred Payment?

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5. 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

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Money as a Standard of Deferred Payments:
The last function of money is a standard of deferred of
payments or unit of account aver time. 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. With the
wide use of installment buying, this function of money has
become increasingly important


Tiền có chữa năng là phương tiện trả chậm:
Chức năng cuối của tiền đó là phương tiện trả chậm
hoặc đơn vị tiền tệ theo thời gian. Khi bạn mua thứ gì mà lại
không thể trả tiền cho nó ngay lập tức, thì giao dịch đó của
bạn sẽ được thể hiện dưới dạng tiền phải trả trong tương lai.
Với việc sử dụng rộng rãi của phương thức mua trả góp, chức
năng này của tiền ngày càng trở nên quan trọng

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6. What do you think is the most important function of money? And why?

In my opinion, the most important function of money is money as a medium of exchange.
Because:
-Firstly,people use money for exchanging goods and services.
-Secondly,if this function is not exist,other functions are not performed.
-And with this function, if I have enough money, I can buy everything I want. 

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READING

 Different kinds of money: The most important types of money are commodity money and token
money.

7. What are two mains types of money?


Two mains types of money are commodity money and token money.

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