Lesson 4 The world of money
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Lifeline to economics 1 Speaking and listening
a In pairs, agree on a definition 3 4 5 6 of7inflation. 8 9 Compare your definition with that of 11 12 13 14 another 15 16 pair. 17 3 4 5 b 6 Listen 7 8to part 9 of a college 19 20 21 22 economics 23 24 25class, and check 11 12 13 14 your 15 definition. 16 17 27
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c Listen again and complete 19 20 21 22 this 23 student’s 24 25 notes.
2 Speaking
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discuss the annual 35 36 37 38 In39groups, 40 41 51 52 53 54 variation 55 56 in 57 the cost of 43 44 45 46 products 47 48 and 49 services in your 59 60 61 62 country. 63 64 Use 65 the questions in
the box to help you.
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59 60 61 62 Consider 63 64 the 65 items in the photographs. 75 76 77 78 79 80 81 How much do
they cost now, and how 71 72 73 much did they cost this time last year? Do you think 75 76 77 78 inflation 79 80 is81 high, moderate, or low? Do you know the official rate of inflation in your country? 67
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Unit 5
Inflation
= general rate of
(1) ___________ 1–5%
= typical inflation now in
(2) ____________ 1,300 billion%
= highest rate of inflation
last century, in (3) ____________ in (4) 19___