Why did a flower once cost more than a house?

Answer each question with 2–3 sentences.

1. Have you ever bought something just because everybody wanted it?
2. Do you prefer to save money or to spend it?
3. What is the most expensive thing you've ever bought?
4. Do you think rare things are always valuable?
5. Have you ever heard a story about someone who lost a fortune?
6. Would you invest money in something risky?

Read each word and the example. Then say a sentence about money and risk.

Choose the word that fits.

1. When is high and supply is low, prices rise.
2. Some rare bulbs were sold for a .
3. Many people tried to in tulips to make quick money.
4. The market and prices fell in a few days.
5. Economists call it a when prices go far above real value.
6. The painting was sold at an for a high price.
7. Historians think the stories may be .
8. Gardeners plant in autumn.

Choose the right answer, then press Check answers.

1. demand is how much people
   want to buyhave savedcan produce
2. a fortune is a
   type of taxsmall giftvery large amount of money
3. to collapse = to
   fall suddenlystay the samerise slowly
4. a bubble is when prices go
   below the costfar above real valueto zero for ever
5. to exaggerate = to say something is
   bigger than it isnot true at allsmaller than it is
6. an auction is a sale where people
   offer higher pricespay with cardschoose a fixed price

Use these phrases to report what is said or believed.

• It is said that...Кажуть, що...It is said that one bulb cost more than a house.
• It is believed that...Вважається, що...It is believed that the bubble burst in 1637.
• ...is said to have......нібито...A bulb is said to have cost more than a house.
• ...is thought to be......вважається...The story is thought to be exaggerated.
• It may be that...Можливо, що...It may be that the stories were exaggerated.
• Historians have found that...Історики виявили, що...Historians have found that few people were ruined.
• Prices went up and down.Ціни то росли, то падали.Prices went up and down very quickly.
• Don't believe the hype.Не вір галасу навколо.Don't believe the hype; check the facts.

Read the text. Hover over the dotted words for help.

1. Tulips came to the Dutch Republic from the Ottoman Empire.
   TrueFalse
2. The stripes on the flowers were caused by a virus.
   TrueFalse
3. Historians agree that the legend is completely true.
   TrueFalse
4. Anne Goldgar found that few people seem to have been completely ruined.
   TrueFalse
5. The text says the story is no longer used as a warning.
   TrueFalse

1. Why do people follow a trend even when prices are very high?
2. Is there a modern example of a bubble?
3. How can we protect ourselves from hype?
4. Why do stories like this stay popular for centuries?

Common mistakes: is said to + infinitive, and to have + past participle for earlier events. ✗ He is believed having lost → He is believed to have lost. ✗ It says that → It is said that.

1. It
   saysis said
   that a bulb cost more than a house.
2. A bulb is said
   to cost hadto have cost
   more than a house.
3. Tulips are believed
   to have cometo came
   from the Ottoman Empire.
4. The story
   maymay be
   exaggerated.
5. Prices
   couldcould be
   controlled by the government.
6. It
   thinksis thought
   that the bubble burst in 1637.
7. She is
   knowingknown
   to be rich.
8. Bulbs
   mustmust be
   planted in autumn.

Each sentence has one mistake. Type the correct words.

1. It says that the market collapsed quickly. →
2. He is believed having lost everything. →
3. The story may exaggerated. →
4. They are thought to had been rich. →
5. Rules must followed. →
6. Tulips believe to have come from Turkey. →

Answer in detail. Use It is said that… and is believed to…

1. Tell me about something that is said to be very valuable.
2. What is believed about money in your culture?
3. What stories about getting rich quickly do you know?
4. Have you ever followed a trend that you later regretted?
5. How should people be protected from financial hype?
6. What advice would you give to a new investor?

Three people deal with money in different ways. Compare them. Who takes the biggest risk? Who is the most careful? What advice would you give each one?

Your teacher will time you.

1. Plan for one minute, then speak for one or two minutes.
2. Part 1: what you spend money on and what you save for.
3. Part 2: a time when you bought something because of hype, or saw others do it.
4. Part 3: whether a bubble could happen today, and what is said about it.

1. What do you spend most of your money on?
2. Have you ever bought something because of hype?
3. What would you invest in?
4. Do you save regularly?
5. What rare thing would you like to own?
6. Have you ever lost money?
7. Do you check prices before you buy?
8. How do you decide what is worth buying?

1. Who in your family is good with money?
2. Who loves bargains?
3. Who has bought something very expensive?
4. Who has given you advice about money?
5. Who do you know that collects something rare?
6. Who takes the most financial risks?

1. Can a bubble happen today?
2. Should investing be taught at school?
3. Is greed the main reason for financial crashes?
4. Should the government stop risky trades?
5. Is it right to make money from rare things?