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The concept of money: Money is a commodityaccepted by general consent as a medium ofeconomic exchange. It is the medium in whichprices and values are expressed. It circulates fromperson to person and country to country, thenfacilitating trade, and it is the principal measure ofwealth.
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LECTURER : Mrs THUY HUONG GROUP : 02 CLASS : 15.03 LT.1 Unit 11: MONEY AND ITS FUNCTIONS Members Dương Hoàng Anh 2.Nguyễn Thị Dương Trịnh Thị Nhung Phạm Thị Chuyên Nguyễn Hồng Vân Preview vocabulary 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, 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 toán 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 toán It is reasonable to expect proper payment for this work Exceed (v) [ɪk'siːd] Vượt trội This exceeds all my expectations 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 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 The concept of money Khái niệm tiền: Money is a commodity accepted by general Tiền loại hàng hóa chấp nhận chung consent as a medium of economic exchange phương tiện trao đổi Nó phương tiện It is the medium in which prices and values nơi mà giá giá trị biểu Nó lưu are expressed It circulates from person to thông từ người sang người khác, từ nước person and country to country, then sang nước khác, tạo thuận lợi cho thương mại facilitating trade, and it is the principal thước đo cho giàu có measure of wealth 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 What are the functions of money ? .Money has important functions They are: • A Medium of Exchange • A Measure of or Value • A Store of Value • A Standard of Deferred Payments The function of money: Các chức tiền Mọi xã hội đại sử dụng tiền Nhờ có 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 dịch vụ với Điều có nghĩa tiền góp phần thúc đẩy thương mại Tiền cung cấp chức phương tiện trao đổi, phương pháp đơn vị tính tốn, lưu trữ giá trị phương tiện trả chậm Chúng ta thảo luận chức tiền money in turn 10 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 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 phương tiện trả chậm: Chức cuối tiền phương tiện trả chậm đơn vị tiền tệ theo thời gian Khi bạn mua thứ mà lại khơng thể trả tiền cho lập tức, giao dịch bạn thể dạng tiền phải trả tương lai Với việc sử dụng rộng rãi phương thức mua trả góp, chức tiền ngày trở nên quan trọng 23 What 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 24 READING Different kinds of money: The most important types of money are commodity money and token money What are two mains types of money? Two mains types of money are commodity money and token money 25 READING Different kinds of money: The most important types of money are commodity money and token money Commodity money: Commodity money is a useful good that serves as a medium of exchange As a result, the value of commodity money is about equal to the value of the material contained in it The principal materials used for this type of money have been gold, silver and copper In ancient times various articles made of these metals, as well as of iron and bronze, were used as money, while among primitive people such commodities as shells, beads, elephant tusks, furs, and livestock served as medium of exchange The gold coins in circulation in the US before 1933 were examples of commodity money 26 Different kinds of money: The most important types of money are commodity money and token money Commodity money: Commodity money is a useful good that serves as a medium of exchange As a result, the value of commodity money is about equal to the value of the material contained in it The principal materials used for this type of money have been gold, silver and copper In ancient times various articles made of these metals, as well as of iron and bronze, were used as money, while among primitive people such commodities as shells, beads, elephant tusks, furs, and livestock served as medium of exchange The gold coins in circulation in the US before 1933 were examples of commodity money Các hình thái khác tiền: Các hình thái quan trọng tiền tiền hàng tiền dấu hiệu Tiền hàng: Tiền hàng hàng hóa hữu ích phục vụ phương tiện trao đổi Kết là, giá trị tiền hàng với giá trị vật liệu chứa Các loại vật liệu sử dụng cho loại tiền vàng, bạc đồng Ở thời cổ đại, nhiều loại hàng hóa làm từ kim loại này, sắt đồng sử dụng tiền, người nguyên thủy lại sử dụng mặt hàng vỏ, hạt, ngà voi, lông thú động vật phương tiện để trao đổi Các đồng tiền vàng sử dụng lưu thông Mĩ vào trước năm 1933 ví dụ tiền hàng 27 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 A $10 note is worth far more as money than as a 3x6 inch piece of high quality paper Similarly, the monetary value of the most coins exeeds the amount you would get by melting them down and selling of the metal they contain Give some types of token money? 28 Token money: Token money is a means of payment Tiền dấu hiệu Tiền dấu hiệu phương tiện toán whose value of purchasing power as money greatly chứa đựng sức mua lớn gấp nhiều lần chi phí để sản xuất exceeds its cost of production or value in uses other than giá trị biểu Một lưu ý 10$ có giá trị as money A $10 note is worth far more as money than lớn nhiều so với mảnh giấy 3x6 inch chất lượng as a 3x6 inch piece of high quality paper Similarly, the cao Tương tự, giá trị tiền tệ hầu hết đồng tiền vượt monetary value of the most coins exceeds the amount số tiền bạn nhận cách tán chúng bán you would get by melting them down and selling of the kim loại metal they contain 29 What are some main differences between commodity money and token money? Content Commodity money Token money Token money is a means of payment Definition Commodity money is a useful good that serves as a medium of exchange whose value of purchasing power as money greatly exceeds its cost of production or value in uses other than as money whose value of purchasing Value Equal to the value of the material contained in it power as money greatly exceeds its cost of production or value in uses other than as money 30 commodity token 31 Different kinds of money SUMMARY The functions of money The concept of money 32 Definition: Money is commodity accepted by general consent as a medium of exchange The concept of money It is the medium in which prices and values are expresed 33 » Money as a Medium of Exchange: is anything that is widely accepted in payment for goods and services and in settlement of debts Money as a Measure of Value The function The unit of account is the unit in which prices are of money quoted and account are kept Money as a Store of Value It can be used to make purchases in the future Money as a Standard of Deferred Payment 34 » Commodity Money: Commodity Money is a useful good that serves as a medium of exchange Different kinds of money Token Money: Token money is a means of payment whose value or purchasing power as money great exceeds its cost of production or value in uses other than as money 35 Summary Unit 11 is talk about money and its functions There are main ideas: Firstly, the concept of money: Money is a commodity accepted by general consent as a medium of exchange Secondly, Money has functions: money serves as a medium of exchange, a measure of or a unit of account a store of value and a standard of defferred payment The first funtion of money is money as a medium of exchange: a medium of exchange is anything that is widely accpeted in payments for goods and services and in settlement of debts Money is the most common medium of exchange The second function is money as a measure of value: Money measures value in its unit of accounts The unit of account is the unit in which prices are quoted and account are keep The third function is money as a store of value: Money is a store of value because it can be used to make purchases in the future The last funtion of money is a standard of deferred payments or unit of account aver time Finally, about different kinds of money The most important types of money are commodity money and token money Commodity money is a useful good that serves as a medium of exchange But 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 36 THANKS FOR YOUR LISTENING 37 ... commodity money and token money What are two mains types of money? Two mains types of money are commodity money and token money 25 READING Different kinds of money: The most important types of money. .. Money measures value in its units of Đơn vị tiền nơi giá biểu giá trị lưu giữ account The unit of account is the unit in which prices are Tại Anh, giá biểu bảng Anh Tại Mĩ đồng đô la quoted and. .. dollar, and in Vietnam VND The use of such units helps simplify the exchange of goods How is money used as a unit of account? 15 How is money used as a unit of account? Money measures value in its