PASSAGE 132 u1 K9 R& ^4 _) o
The Central Problem of Economics7 D" X! m6 ?( }4 j
The central problem of economics is to satisfy the people's and nation's wants.9 E6 s K/ C# z+ [$ F7 w/ C
The problem we are faced with is that our resources, here identified as money, are __1__. The only way we can resolve our problem is to make choices. After looking at our resources, we must examine our list of __2__ and identify the things we need immediately, those we can postpone, and __3__ we cannot afford. As individuals, we face the central problem involved in economics-deciding just how to allocate our limited our limited resources to provide __4__ with the greatest satisfaction of our wants.8 L% f: ~1 F8 e$ s7 n
Nations face the same problem. As a country's population ___5__, the need for more goods and services grows correspondingly. Resources necessary to production may increase, but there __6__ are enough resources to satisfy the total desires of a nation. Whether the budget meeting is taking place in the family living room, in the conference room of the corporation __7__ of directors, or in the chamber of the House of Representatives in Washington, the basic problem still exists. We need to find __8__ of allocating limited resources in order to satisfy unlimited wants.2 m/ P0 q8 G' _# E' w- }
A short time ago economists divided goods into two categories, free and economic. The former, like air and water, were in __9__ abundance that economists had no concern for them. After all, economics is the __10__ of scarcity and what to do about it. Today many of these "free goods" are __11__ very expensive to use. Pollution has made clean air and water expensive for producers' extra costs, and __12__ taxpayers who pay for the government's involvement in cleaning the environment.' S4 X& D# r% @9 t2 r' }' `! }
In the 1990s, almost all goods are __13__. Only by effort and money __14__ obtained in the form people wish.
! G7 w6 f9 s* }" | Meeting needs of people and the demands from resource available __15__ the basic activity of production. In trying to meet unlimited wants from limited economic goods, production leads to new problems in economics. y- w$ p+ d0 l% Z, a
EXERCISE:. b4 H" Y1 \. R, v. y. {+ A
1. A) limited B) unlimited C) scarcity D) abundant! E0 O: H# u2 O" [5 I- }- z
2. A) want B) problem C) wants D) resources
/ N, w6 l6 G2 ~' |9 y& ? 3. A) those B) some C) others D) many
! x, i& p, f6 D' ]) I 4. A) them B) themselves C) ourselves D) ours6 U7 x. X: W. d3 ?6 ?
5. A) expand B) extends C) grows D) increase
0 N+ c. e7 ^/ ^) C; ?/ p 6. A) always B) sometimes C) often D) never. R. f. {/ G2 R7 ] t4 ^( I2 Z
7. A) management B) function C) board D) group
8 L7 X- m V+ L3 R; {- v. z 8. A) people B) economists C ) way D) methods
# \# ?8 D- Q: G8 t 9. A) so B) great C) such D) such an7 ^0 t0 ~7 L' a% c2 {5 I3 H
10. A) form B) study C) means D) source" W/ r" I4 h3 C: v# X. D
11. A) practically B) in practice C)in reality D) practicably3 o9 x0 F6 y8 ?( g
12. A) the B) / C) for D) with
8 m) o9 a; }) U( |0 T 13. A) plentiful B) scarce C) abundant D) in full supply
3 r3 Z% o! m5 [ 14. A) they can be B) can they be C) they must be D) must they be( _( A) @& s1 |9 t
15. A) are led to B) leads C) lead to D) leads to; r) w T5 ]& k8 X( n& t
KEY:
* d" `1 |5 X( t5 B8 i, H) y A C A C C D C D C B C C B B D
+ ^) F. x% \* z* o PASSAGE 14
" Y: r/ y: p8 w: m" X6 R Newspaper Reports
2 D/ S8 c% X: {# s1 b; R There are many type of reports. A report is simply __1__ of something that has happened. The commonest are __2__. We get them in newspapers, over radio and __3__ television. Sometimes cinemas also show us newsreels.2 j* g/ o( c8 }( j
The main purpose of a newspaper __4__ provide news. If you __5__ a newspaper closely, you will find that there are all types of news: accidents, floods, fires, wars, sports, books, etc. The news __6__ everything that happens to people and their surroundings. Sometimes there are news items which are very __7__.
/ n7 o# F+ d, Q5 T! S& L1 R The big __8__ bold words above the news items are called headlines. Their purpose is to __9__ attention so that people will buy the newspaper because they want to read __10__ of the news.
& P6 g* A0 n! E4 k A news report is usually very short, __11__ when it is about something very important, but it __12__ a lot of information. It is also written in short paragraphs. The first paragraph is in __13__ a summary of the news item. It gives all the necessary information: what, when, where, how, why. The other paragraphs give __14__ of the subject. There may also be interviews __15__ people. The words actually spoken by them are within inverted commas.) n7 [! Y: W5 q
Often there are photographs to go with the news to make it more interesting.
8 n+ B4 m% i( u, r. ] F 1. A) a count B) an account C) an accident D) an incident
" K, F, h( \/ z, u$ `- z 2. A) news reports B) new reports C) news report D) new report
1 u, E! ~$ p3 c5 H! [5 w. g 3. A) over B) by C) on D) through( n3 o/ N* o7 n" ~: \6 F/ A" R8 J8 N
4. A) is to B) is C) is to have D) is to be0 j) k; c; m: H2 z
5. A) examine B) watch C) look D) see+ ?5 e. K, b6 B& c. c2 b# E( j
6. A) concludes B) covers C) conclude D) cover
0 E) A' f, e+ ]9 W4 s5 ]0 G. K7 ^ 7. A) amuse B) amused C) amusing D) to amuse
. D( [$ z! k! d3 e 8. A) or B) as well C) both D) also- p8 I( v8 Q6 k3 a
9. A) give B) attain C) pay D) attract+ j$ T! S! V3 _
10. A) the rest B) rest C) other D) the other
' v9 G9 W- A7 p! } 11. A) besides B) apart from C) except D) except for
+ k: v5 a n% t. k4 M/ n 12. A) composes B) concludes C) confirms D) contains
" Z/ I; [# |: b 13. A) details B) reply C) all D) fact
( j5 @. h* d4 w& ~% s! L' Q& ` 14. A) fully details B) full details C) details fully D) details full
! ]1 [4 s1 q6 ^2 K5 \0 \8 Z 15. A) with B) between C) to D) among, x1 C z. k0 Y7 B
KEYS: BACAA BCADA CDDBA |