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The Central Problem of Economics
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/ a% q% m4 E4 x8 n# z9 ^ The central problem of economics is to satisfy the people's and nation's wants.3 |1 M3 O1 l! p8 W1 B
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.
. L$ K2 K0 M u: P 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.
7 P% }) O7 f! `7 `& O 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." [1 c% ?) S$ k0 R- ^
In the 1990s, almost all goods are __13__. Only by effort and money __14__ obtained in the form people wish.' p6 ?( H' k1 f' f" Y: e
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.
( J% Y/ }: ~/ H* j4 a3 t) L+ SEXERCISE:
6 O1 L8 z( T, P; G; y4 I' ~8 Y1. A) limited B) unlimited C) scarcity D) abundant& {2 Y( O. W' O& N8 _4 ]& B0 a
2. A) want B) problem C) wants D) resources
0 V: J5 `: u) J& u$ Y( _7 E' g. S3. A) those B) some C) others D) many$ T0 M) `. L3 g& e6 C: V3 ]
4. A) them B) themselves C) ourselves D) ours: |" s0 S( B# X: r; \
5. A) expand B) extends C) grows D) increase3 ^- _2 Q6 X# [6 H# {
6. A) always B) sometimes C) often D) never8 |2 O& u2 _% M7 a
7. A) management B) function C) board D) group
' a* E5 k9 S# ~2 e0 f+ x; E% {8. A) people B) economists C ) way D) methods
: \8 l4 }9 U# s5 h, m8 f$ `9. A) so B) great C) such D) such an ' ~1 {0 F$ T; u
10. A) form B) study C) means D) source
/ O& y Z, b. `: o11. A) practically B) in practice C)in reality D) practicably
* k/ ^& [% A4 l& F! P12. A) the B) / C) for D) with
$ A4 _4 E+ G, D- h0 \4 l( V3 _. \$ z13. A) plentiful B) scarce C) abundant D) in full supply
( b6 q1 d1 _; s4 ^14. A) they can be B) can they be C) they must be D) must they be, b/ g7 B/ h0 k* D3 q" L5 g
15. A) are led to B) leads C) lead to D) leads to
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6 C* m4 ?! N6 y2 zA C A C C D C D C B C C B B D
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PASSAGE 14
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( Z( E K k4 \" Z' ONewspaper Reports; \5 r. f( e: r0 u0 v. V X! B& @$ S
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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.
/ c6 d8 V' h! \& K 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__.( B; p0 E3 m- K, V/ A
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.
/ e! Z, ]/ k% V4 q9 E 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.* ^% b- @2 ?2 f. P* ^
Often there are photographs to go with the news to make it more interesting. |