Study the text again and answer the questions.
1 Where is the writer's address?
2 Where is the date?
3 Where is the address of the company that
is going to receive the letter?
4 Does the writer use full forms of verbs or
contractions? Find examples
5 Does the writer use formal or informal
phrases? Find examples
1. What is money?
c) a medium of exchange
2. Why can money serve as a standard of value?
c) it determines the relative cost of goods and services
3. Is private production of money legal?
a) no
4. What is necessary in a barter economy?
a) double coincidence of wants
5. What is the essential condition for survival of token money?
b) restriction to the right to supply it
6. What is token money?
c) coins and banknotes
7. What is the distinctive feature of production of paper money?
c) tiny cost
8. What does money determine?
a) relative cost of different goods and services
9. How did people get goods in primitive societies?
b) they exchanged one thing for another
10. What was each person in a barter economy?
c) a seller and a buyer