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- Question
Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that is concerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to think of price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers. Price-fixing is a phenomenon that is normal in -
Options- A. agricultural societies
- B. industrialized societies
- C. pre-industrial societies
- D. globalised societies
- Correct Answer
- industrialized societies
- 1. Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that is concerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to think of price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers. Who, according to the economists, are the right group of people to set the price of a commodity?
Options- A. the aggregate of consumers
- B. the buyers
- C. the sellers
- D. the economists Discuss
- 2. Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that is concerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to think of price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers. What does not seem as not good or normal in the context of this essay?
Options- A. the new interest in free market
- B. being captivated by spell of the free market
- C. that which does not accord with the requirement of the free market
- D. the economists who are captivated by the free market Discuss
- 3. Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. When I think of my family's history on the land. I experience a pang of regret. Unlike much of the arid West, where the land has gone virtually unchanged for centuries, my place of origin, western Kansas, has been torn up by agriculture. The flat plains, excellent soil, and sparse but just adequate rainfall permitted farming; therefore farming prevailed, and a good 90% of the original sod prairie is gone. The consequence, in human terms, is that our relationship to our place has always felt primarily mercantile. We used the land and denied, or held at bay, its effect on us. Yet from my earliest childhood, when the most of the Kansas prairie was still intact, I 've known that the land also had a romantic quality. I've felt moved by the expanse of it , enthralled by size. I take pride in my identity as a plains daughter. What factor changed the entire landscape of Kansas?
Options- A. wind
- B. heat
- C. agriculture
- D. flooding Discuss
- 4. Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. When I think of my family's history on the land. I experience a pang of regret. Unlike much of the arid West, where the land has gone virtually unchanged for centuries, my place of origin, western Kansas, has been torn up by agriculture. The flat plains, excellent soil, and sparse but just adequate rainfall permitted farming; therefore farming prevailed, and a good 90% of the original sod prairie is gone. The consequence, in human terms, is that our relationship to our place has always felt primarily mercantile. We used the land and denied, or held at bay, its effect on us. Yet from my earliest childhood, when the most of the Kansas prairie was still intact, I 've known that the land also had a romantic quality. I've felt moved by the expanse of it , enthralled by size. I take pride in my identity as a plains daughter. What does the author feel proud about?
Options- A. being an American
- B. being a native of Kansas.
- C. being able to see the romantic quality of the land.
- D. the ability to unite well. Discuss
- 5. Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. When I think of my family's history on the land. I experience a pang of regret. Unlike much of the arid West, where the land has gone virtually unchanged for centuries, my place of origin, western Kansas, has been torn up by agriculture. The flat plains, excellent soil, and sparse but just adequate rainfall permitted farming; therefore farming prevailed, and a good 90% of the original sod prairie is gone. The consequence, in human terms, is that our relationship to our place has always felt primarily mercantile. We used the land and denied, or held at bay, its effect on us. Yet from my earliest childhood, when the most of the Kansas prairie was still intact, I 've known that the land also had a romantic quality. I've felt moved by the expanse of it , enthralled by size. I take pride in my identity as a plains daughter. From the passage, it may be determined that the word "mercantile" has something to do with
Options- A. practicality
- B. danger
- C. America
- D. spirituality Discuss
- 6. Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that is concerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to think of price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers. A major act of will will bring about price-fixing that will be seen as -
Options- A. effective and productive
- B. constructive and practical
- C. normal and having valuable economic function
- D. systematic and relevant Discuss
- 7. Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that is concerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to think of price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers. Selling a commodity at a price that is not more than that charged by competitors is -
Options- A. rejected by the free market system
- B. opposed by the advocates of the free market theories
- C. considered suspicious by the free market theorists
- D. recognized by the advocates of the free market theories Discuss
- 8. Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. But the war did not cease; though friend and foe alike were almost drowned in blood. It seemed as powerful as eternity, and in time Tony Vassall too went to battle and was killed. The country gave Patience a widow's pension, as well a touching inducement to marry again; she died of grief. Many people died in those days, it was not strange at all. Nathan and his wife got so rich that after the war they died of overeating, and their daughter Olive came into a vast fortune and a Trustee. The writer says war is
Options- A. bloodless
- B. partial
- C. destructive
- D. unimportant Discuss
- 9. Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. But the war did not cease; though friend and foe alike were almost drowned in blood. It seemed as powerful as eternity, and in time Tony Vassall too went to battle and was killed. The country gave Patience a widow's pension, as well a touching inducement to marry again; she died of grief. Many people died in those days, it was not strange at all. Nathan and his wife got so rich that after the war they died of overeating, and their daughter Olive came into a vast fortune and a Trustee. In the passage, it is stated that "friend and foe alike were almost drowned in blood." What does it convey?
Options- A. friends and enemies forgot their differences.
- B. both suffered similarly.
- C. both started liking each other.
- D. war made people hate each other. Discuss
- 10. Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. But the war did not cease; though friend and foe alike were almost drowned in blood. It seemed as powerful as eternity, and in time Tony Vassall too went to battle and was killed. The country gave Patience a widow's pension, as well a touching inducement to marry again; she died of grief. Many people died in those days, it was not strange at all. Nathan and his wife got so rich that after the war they died of overeating, and their daughter Olive came into a vast fortune and a Trustee. From this passage we learn that Tony Vassal was
Options- A. Patience's husband
- B. a soldier's son
- C. Nathan's relative
- D. very successful Discuss
English problems
Search Results
Correct Answer: the aggregate of consumers
Correct Answer: that which does not accord with the requirement of the free market
Correct Answer: agriculture
Correct Answer: being a native of Kansas.
Correct Answer: practicality
Correct Answer: normal and having valuable economic function
Correct Answer: recognized by the advocates of the free market theories
Correct Answer: destructive
Correct Answer: both suffered similarly.
Correct Answer: Patience's husband
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