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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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WELCOME!!!

LECTURER : Mrs THUY HUONG

GROUP : 02 CLASS : 15.03 LT.1

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MONEY AND ITS FUNCTIONS

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VOCABULARY

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Currency (n) ['kʌrənsɪ] Tiền tệ US dollars and Euro are

considered as strong currenciess

Consent (n) [kən'sent] Sự đồng lòng,

sự chấp nhận chung

You have my consent to leave

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 A medium of exchange is

anything that is widely accepted in payment for goods and services and n settlement of debts

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Measurements ['meʒə(r)mənt] 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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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

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

Khái niệm tiền:

Tiền là một loại hàng hóa được chấp nhận chung như phương tiện trao đổi Nó là một phương tiện nơi mà giá

cả và giá trị được biểu hiện

Nó được lưu thông từ người này sang người khác, từ nước này sang nước khác, tạo

thuận lợi cho thương mại và

nó cũng là thước đo cơ bản cho sự giàu có.

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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:

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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.

Các chức năng của tiền

Mọi xã hội hiện đại đều sử dụng tiền Nhờ có nó con 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.

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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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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

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.

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

Con người mua hoặc bán hàng hóa

để đổi lấy tiền Tiền là 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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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

Exampt: VND, USD, ERO

Money measures value in its units of

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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

nó Đơn vị của tiền là nơi giá cả được biểu hiện và giá trị được lưu giữ Tại Anh, giá được biểu hiện bằng bảng Anh Tại Mĩ là đồng đô la Mỹ, và ở Việt Nam là Việt Nam đồng Việc sử dụng các đơn vị này sẽ giúp dễ dàng hơn trong việc trao đổi hàng hoá

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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

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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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

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

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

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

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Different kinds of money: The most important types of

money are commodity money and token money.

7 What are two mains types of money?

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Two mains types of money are commodity

money and token money

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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.

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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 nhau của tiền:

Các hình thái quan trọng nhất của tiền

đó là tiền hàng và tiền dấu hiệu.

Tiền hàng: Tiền hàng là hàng hóa hữu ích phục vụ như là một phương tiện trao đổi Kết quả là, giá trị tiền hàng bằng với giá trị của vật liệu chứa trong nó Các loại vật liệu chính được sử dụng cho loại tiền này đó là vàng, bạc và đồng.

Ở thời cổ đại, nhiều loại hàng hóa đã được làm từ các kim loại này, cũng như sắt và đồng được sử dụng như tiền, trong khi người nguyên thủy lại sử dụng các mặt hàng như vỏ, hạt, ngà voi, lông thú

và động vật như là phương tiện để trao đổi Các đồng tiền vàng được sử dụng trong lưu thông ở Mĩ vào trước năm 1933 chính là một ví dụ về tiền hàng

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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.

8 Give some types of token money ?

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Token money: Token money

is a means of payment whose

value of 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 exceeds the amount you

would get by melting them

down and selling of the metal

they contain.

Tiền dấu hiệu Tiền dấu hiệu là

một phương tiện thanh toán chứa đựng sức mua lớn hơn gấp nhiều lần chi phí để sản xuất hoặc giá trị được nó biểu hiện Một lưu ý đó là 10$ có giá trị lớn hơn rất nhiều so với một mảnh giấy 3x6 inch chất lượng cao Tương tự, giá trị tiền tệ của hầu hết các đồng tiền vượt quá

số tiền bạn sẽ nhận được bằng cách tán chúng và bán các kim loại trong đó

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9 What are some main differences between

commodity money and token money?

Definition

Commodity money is

a useful good that serves as a medium of exchange

Token money is a means

of payment whose value

of purchasing power as money greatly exceeds its cost of production or value in uses other than

as money

Value Equal to the value of the material contained

in it

whose value of purchasing power

as money greatly exceeds its cost of production or value

in uses other than

as money

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is widely accepted in

payment for goods and

services and in settlement

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

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a medium of exchange.

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

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