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The role of English in modern life.
 
Write your own opinion (about 150-200 words) 
Task 5. Presentation 
Make a presentation (8-12 slides) on the topic: “Financial management” 
 

SELF STUDY 17 
Task 1. Vocabulary 
 
Exercise 1. Match the words in the box to the definitions 1 to 6 below
 
equity stake recession shares debt stock market forecast
1) 
equal parts into which the capital or ownership of a company is divided 
2) 
a period of time when business activity decreases because the economy is 
doing badly 
3) 
money risked when a business owns part of another company 
4) 
a place where company shares are bought and sold 
5) 
a description of what is likely to happen in the future 
6) 
money owned by one person or organisation to another person or 
organisation 
 
Exercise 2. Make sentences using the words in the box 
 
equity stake recession shares debt stock market forecast
Task 2. Reading 
Buying and Selling Stocks 
Suppose you decide that you want to invest some of your money in stocks. 
How do you go about buying them? Most people first seek out the services of a 
stockbroker, 
a dealer who specializes in stock transactions. Stockbrokers will 
advise you on which stocks to buy and when to buy them. Stockbrokers will also 
process your order, charging you a certain percentage of the order as a fee. Stock-
brokers will also help you sell your stocks, again for a fee. 
Stockbrokers usually buy and sell stocks through a trading market known as 
a 
stock
exchange
. There are several hundred stock exchanges in the United States. 
Of these, the best known are the New York Stock Exchange (NYSE) and the 
American Stock Exchange (AMEX), both of which are located in New York. 
Other cities such as Chicago and San Francisco also have stock exchanges. Stock 
exchanges provide a central place in which both buyers and sellers of stock can 

meet. Brokers who are members exchange carry out the orders of their customers. 
This means that many different brokers are carrying out many different orders. The 
final buying or selling prices are arrived at as a result of an auction. 
Some investors feel that they are sufficiently knowledgeable to decide on 
their own which securities to buy or sell. Rather than pay full fees for such services 
as consultations and research, they take advantage of the brokerage services 
offered by many banks. Generally, bank brokerage services allow the investor to 
save on brokerage commissions since they do not provide advice about which 
stock to buy. 

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