Lesson 4

THE CONSUMER IN OUR ECONOMY

I. Read and memorize the following words, word-combinations and word-groups:

to meet one's needs – задовольняти потреби

E.g. Many businesses work very hard to meet your needs and wants.

wage(s) (syn. salary) – заробітна плата

E.g. In return for working, you will receive a wage or salary.

wealth – багатство

E.g. Wealth is the value of the things you own.

to deposit money in a savings account – класти гроші на ощадний рахунок

E.g. We decided to deposit money in a savings account.

to earn interest – одержувати відсотки

to loan – позичати, давати позику

E.g. Wealth, in the form of money that is loaned to others or deposited in a savings account, will earn interest.

expenditures – витрати

savings – заощадження

E.g. The Greens plan their expenditures and savings very carefully.

to make one's decision – приймати рішення

E.g. When the time comes to make a major purchase, we compare products and prices before making our decision.

to keep track – дотримуватися курсу

E.g. Most of the time, we are able to keep track of our expenditures (the money spent), so that we are able to meet our immediate needs.

to exceed – перевищувати

surplus – лишок

E.g. Budgets in which income exceeds expenditures will have a surplus.

rate of return – норма прибутку

E.g. The rate of return is expressed as a percentage of the amount on deposit for a period of a year.

compound interest – складні відсотки

E.g. Most accounts offer compound interest.

yield – прибуток

E.g. It is important to distinguish between rate of return and yield, the actual amount of interest earned.

to share risk – розподіляти страхову суму

E.g. Insurance enables people to share risk.

endowment insurance – страхування-вклад

E.g. Endowment insurance protects the insured for a specific number of years.

consumer credit – споживчий кредит

E.g. Consumer credit provides cash, goods, or services now, while spreading repayment into the future.

finance charge – фінансові витрати

E.g. Finance charge is the total amount you pay to use credit.

passbook loan – книжка займу

E.g. If you have a savings account, you may to apply for a passbook loan against your balance in that account.

II. Give English equivalents of the following:

класти гроші на банківський рахунок дотримуватися курсу

одержувати відсотки фінансові витрати

захист інтересів споживача витрачати гроші

норма прибутку складні відсотки

джерело прибутку страхування-вклад

споживчий кредит приймати рішення

задовольняти потреби

III. Fill in the blanks with appropriate words: