The Central Problem of Economics
The central problem of economics is to satisfy the people's and nation's wants.
The problem we faced with is that our resources, here identified as money are(1).
The only way we can solve the problem is to(2) choices. After looking at our resources, we must examine our list of(3)and identify the things we need immediately,(4)we can postpone, and those we cannot afford. As individuals, we face the central problem involved in economics---deciding how to allocate our limited resources to(5)ourselves with greatest satisfaction of our wants.
Nations face(6)problem. AS a country's |population(7)the need for more goods and services grows correspondingly. Resources necessary to production may increase, but there(8)are enough resources to satisfy the total desires of a nation. Whether the budget meeting is(9)in the family living room, in the conference room of the corporation (10) of directors, or in the chamber of the House of Representatives in Washington, the basic problem still ex is.We need to find(11)of allocating limited resources in order to satisfy unlimited wants.
A short time ago, economists(12)goods in to two categories, free and economic. The former, like air and water, were in a bun Dance that economists had no concern for them. After all, economics is the(14)of scarcity and what to do about it. Today many of these "free goods"are(15)very expensive to use. Population has made clean air and water(16)for producers who have to filter their waste products, for consumers who ultimately(17)the producer's extra cost, and(18)taxpayers who pay for the government's involvement(19)the environment.
In the 1990s, almost all goods are scares. Only by effort and money(20)obtained in the from people wish.
1)A abundant B scarce C limited D unlimited
2)A have B do C make D ask
3)A want B resources C want D problem
4)A some B others C that D those
5)A bring B provide C take D satisfy
6)A another B the same C the other D a same
7)A growing B grown C grows D grow
8)A sometimes B always C often D never
9)A taking place B happening C replacing D taking the place
10)A board B group C management D function
11)A means B approach C ways D method
12)A seperate B divide C cut D divided
13)A a so B great C such D such an
14)A study B form C means D source
15)A particularly B in practice C pracitally D in reality
16)A cheaper B more expensive C expensive D cheap
17)A pay for B will pay for C use D will use
18)A the B with C for D also
19)A cleaning B in cleaning C about cleaning D clean
20)A they can be B they must be C must they be D can they be