|
II. Vocabulary (10 points, 1 point for each)
Directions: Scan the following passage and find the words which have roughly the same meanings as those given below. The number in the brackets after each word definition refers to the number of paragraph in which the target word is. Write the word you choose on the Answer Sheet.
That is what the economy is all about — making choices on how to use limited resources of money, manpower, machinery and materials, whether it involves a shopper deciding what to buy in the supermarket or a manufacturer deciding what line of goods to produce. Choices made in the economy involve a continuous tug-of-war between consumers and producers over price.
If many businesses are offering a product and there is plenty of it to satisfy the needs of all consumers, a producer will be forced to sell at a price not far above costs in order to keep from being stuck with a lot of unmarketable supplies. This is why, for example, prices for fresh fruit and vegetables drop during the summer months when such produce is in great number.
However, a low price — especially if it falls below what it costs a seller to make the goods — will discourage production, perhaps drive the high-cost producers out of business or force them to make something else. Again using an example from agriculture, farmers periodically plant less wheat or raise fewer cattle if the prices for those commodities give too little return for the costs involved.
On the other hand, if there is great demand for a product and supplies are tight, business will be able to raise prices, their profits will increase and they will invest in new equipment to increase output. Other firms may be attracted by the hopes of good profits to produce the scarce item, thus adding new competition.
That, in the simplest form, is the way the law of supply and demand works in free-market economy. Price becomes the guidepost, telling producers what they can expect to sell at a price that more than covers their costs. At the same time, posted prices tell the consumer what he can expect to pay.
26. small in amount or number (Para. 1)
27. the kind of (Para. 1)
28. goods, items available (Para. 2)
29. to prevent from happening (Para. 3)
30. at regular times (Para. 3)
31. profit from investment (Para. 3)
32. not enough of (Para. 4)
33. not easy to find or obtain (Para. 4)
34. it gives important information about (Para.5)
35. to have enough money to pay something (Para. 5)
|
考试问吧
