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Cost as a Factor in Supply
In a purely competitive market, the supplier of goods and services has no control over the market price, because he produces too little to influence market conditions. With no difference between his products and the products __1__ his competitors, he will sell nothing if he charges above the market price and he will sell all if he charges at or __2__ the market price. However, in considering the price, he must take cost of production __3__. There are times when he may be willing to sell below his cost. This might happen when prices tumble for __4__ a short time. However, no business person can __5__ lose money for a prolonged period. He must __6__ of his costs in relation to the market price if he is to compete successfully and earn a profit.
Many people have the impression that as production increases, costs per unit decrease. __7__ mass production has made this true in certain industries and at certain levels of production, __8__ logic and practical experience have shown that costs per unit begin to rise beyond a certain level of production. Some economists __9__ this principle as the law of increasing costs.
The reason __10__ rise as production goes up is complex. However, it is easy to recognize that as production goes up, the need for additional factors of production will also grow, resulting __11__ competitive bidding in the marketplace for the factors of production. If a producer needs __12__ skilled labor to produce more, and none of this labor is unemployed, the producer will have to get __13__ from other sources. This can be done by __14__ higher wages. Higher bidding would also apply to the other factors of production. We must also recognize that not all labor is equally productive, __15__ not all land is equally fertile and not all ore is equally rich in the mineral wanted.
1. A) to B) at C) of D) on
2. A) below B) beneath C) over D) above
3. A) to consider B) into consideration C) to consideration D) in consideration
4. A) he believes will be B) what he believes be C) what he believes will be D) he believes to be
5. A) afford to B) be affordable C) be afforded to D) have afforded
6. A) constantly aware B) constantly knowledgeable of C) be constantly aware of D) constantly aware of
7. A) Because B) Since C) When D) While
8. A) both B) as well as C) also D) but
9. A) refer B) refer to C) call D) are referred to
10. A) cost B) the cost C) the costs D) costs
11. A) from B) in C) D) for
12. A) less B) numerous C) more D) many
13. A) them B) these C) it D) those
14. A) offering B) cutting C) reducing D) having
15. A) as just B) just as C) because D) while
KEYS: CABCA CDABD BCCAB
雅思分类词汇 - 出入境
雅思分类词汇 - 乘机旅行
雅思口语分类词汇 乘机词汇
雅思分类词汇 - 学校课程名称
雅思听力场景和词汇 旅游场景
雅思写作考试常用单词:动词篇
雅思IELTS听力:住宿场景
雅思分类词汇 - 交通相关词汇
雅思听力场景和词汇 考古场景
雅思分类词汇:留学生活场景
雅思听力场景和词汇 个人健康场景
专业外语词根、前缀、后缀
雅思写作考试常用单词:连接词篇
雅思阅读部分的词汇基本范围
雅思分类词汇:家具木材
雅思听力场景和词汇 日程活动介绍场景
雅思词汇:酒吧水吧词汇
雅思分类词汇- 关于钱的词组
雅思英语派对词(Paired words)
雅思口语分类词汇 厨房用具
雅思分类词汇 - 数码相机规格
雅思写作考试常用单词:形容词副词篇
雅思听力场景和词汇 停车场景
英文单词也"男女有别"
雅思场景词汇 - 外表衣着
雅思IELTS听力 - 描述人物相貌的场景
雅思介词用法
雅思分类词汇 - 体育游泳篇
雅思分类词汇 法庭与法律用语
雅思分类词汇 - 超市食品名称
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