The Central Problem of Economics
The central problem of economics is to satisfy the peoples and nations wants.
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.
Nations face the same problem. As a countrys 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.
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 governments involvement in cleaning the environment.
In the 1990s, almost all goods are __13__. Only by effort and money __14__ obtained in the form people wish.
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.
EXERCISE:
1. A) limited B) unlimited C) scarcity D) abundant
2. A) want B) problem C) wants D) resources
3. A) those B) some C) others D) many
4. A) them B) themselves C) ourselves D) ours
5. A) expand B) extends C) grows D) increase
6. A) always B) sometimes C) often D) never
7. A) management B) function C) board D) group
8. A) people B) economists C ) way D) methods
9. A) so B) great C) such D) such an
10. A) form B) study C) means D) source
11. A) practically B) in practice C)in reality D) practicably
12. A) the B) / C) for D) with
13. A) plentiful B) scarce C) abundant D) in full supply
14. A) they can be B) can they be C) they must be D) must they be
15. A) are led to B) leads C) lead to D) leads to
KEY:
A C A C C D C D C B C C B B D
新概念英语第二册英音版 50-Taken for a Ride
新概念英语第二册英音版 82-Monster or Fish
新概念英语第二册英音版 67-Volcanoes
新概念英语第三册英音版 01-A Puma at Large
新概念英语第二册英音版 84-On Strike
新概念英语第二册英音版 96-The Dead Return
新概念英语第二册英音版 54-Sticky Fingers
新概念英语第二册英音版 66-Sweet as Honey
新概念英语第二册英音版 61-Trouble with the Hubble
新概念英语第二册英音版 52-A Pretty Carpet
新概念英语第二册英音版 77-A Successful Operation
新概念英语第二册英音版 70-Red for Danger
新概念英语第二册英音版 74-Out of the Limelight
新概念英语第二册英音版 53-Hot Snake
新概念英语第二册英音版 49-The End of a Dream
新概念英语第二册英音版 68-Persistent
新概念英语第二册英音版 69-But not Murder
新概念英语第二册英音版 73-The Record-Holder
新概念英语第二册英音版 80-The Crystal Palace
新概念英语第二册英音版 88-Trapped in a Mine
新概念英语第二册英音版 87-A Perfect Alibi
新概念英语第二册英音版 94-Future Champions
新概念英语第二册英音版 75-SOS
新概念英语第二册英音版 55-Not a Gold Mine
新概念英语第二册英音版 95-A Fantasy
新概念英语第三册英音版 02-Thirteen Equals One
新概念英语第二册英音版 86-Out of Control
新概念英语第二册英音版 93-A Noble Gift
新概念英语第二册英音版 71-A Famous Clock
新概念英语第二册英音版 76-April Fools’ Day
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