Vocabulary Focus

1. Look through the Key Vocabulary section and the text once again to complete the definitions.

a) To trade by exchange of commodities rather than by the use of money is to …; (barter)

b) … is a system of organizing the manufacture of goods in a series of separate operations, each of which is carried out by a different worker or group of workers; (division of labour)

c) a piece of metal stamped and issued by the government for use as money is a …; (coin)

d) a … is someone whose business is to supply a particular service or commodity; (supplier)

e) to … means to make easier or less difficult. (facilitate)

2. Complete the sentences with the words from the box. Mind grammar forms.

a unit of account

facilitate

durable

eliminate

a medium of exchange

1. Careful planning ….. any kind of work. (facilitate)

2. The company plans to ….. more than 200 jobs in the coming year. (eliminate)

3. The machines have to be made of ….. materials. (durable)

4. ….. is a standard monetary unit of measurement of value of goods, services, or assets. (a unit of account)

5. Something commonly accepted in exchange for goods and services and recognized as representing a standard of value is ….. . (a medium of exchange)

3. Match the verbs on the left with the nouns on the right to make phrases from the text. Use these phrases in the sentences of your own.

to use in
to purchase (goods and services)	transactions
to create (goods and services)	goods and services
to facilitate (transactions)	difficulties
to eliminate (difficulties)
to obtain (goods and services)

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