Directions: For each blank in the following passage there are four words or phrases marked A, B, C and D. Fill in each blank with the word or phrase that best fits the context.

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 __50__. The only way we can solve the problem is to make choices. After looking at our resources, we must examine our list of __51__ and identify the things we need immediately, those we can postpone, and __52__ we cannot afford. As individuals, we face the central problem involved in economics---deciding how to allocate(分配) our limited resources to provide __53__ with greatest satisfaction of our wants.

Nations face the same problem. As a country's population __54__, the need for more goods and services grows correspondingly. Resources necessary to production may increase, but there are __55__ 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 __56__ of directors, or in the chamber of the House of Representatives in Washington, the basic problem still exists. We need to find __57__ of allocating（分配） 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 __58__ abundance(丰富) that economists had___59____ them. After all, economics is the __60__ of scarcity and what to do about it. Today many of these "free goods" are __61_ very expensive to use. Population has made clean air and water expensive for producers extra cost, and __62__ taxpayers who pay for the government's involvement in cleaning the environment.

In the 1990s, almost all goods are __63__. Only by effort and money can they be obtained .

Meeting needs of people and the demands from resource available __64__ the basic activity of production. In trying to meet unlimited wants from limited economic goods, production leads to new problems in economics.

50.A. limited    B. unlimited     C. scarcity       D. abundant

51.A. want       B. problem      C. wants          D. resources

52.A. those      B. some C. others         D. many

53.A. them       B. themselves C. ourselves    D. ours

54.A. expand   B. extends        C. grows          D. increase

55.A. always    B. sometimes          C. often D. never

56.A. management         B. function      C. board           D. group

57.A. people    B. economists C. way     D. methods

58.A. so   B. great   C. such    D. such an

59.A. much concern forB. no concern with     C. no concern for     D. much concern in

60.A. form        B. study C. means         D. source

61.A. possibly          B. in practice C. in fact          D. practically

62.A. from       B. at        C. for       D. with

63.A. plentiful          B. scarce         C. abundant    D. in full supply

64.A. are led to       B. leading to   C. lead to         D. leads to

Directions: For each blank in the following passage there are four words or phrases marked A, B, C and D. Fill in each blank with the word or phrase that best fits the context.
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 __50__. The only way we can solve the problem is to make choices. After looking at our resources, we must examine our list of __51__ and identify the things we need immediately, those we can postpone, and __52__ we cannot afford. As individuals, we face the central problem involved in economics---deciding how to allocate(分配) our limited resources to provide __53__ with greatest satisfaction of our wants.
Nations face the same problem. As a country's population __54__, the need for more goods and services grows correspondingly. Resources necessary to production may increase, but there are __55__ 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 __56__ of directors, or in the chamber of the House of Representatives in Washington, the basic problem still exists. We need to find __57__ of allocating（分配） 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 __58__ abundance(丰富) that economists had___59____ them. After all, economics is the __60__ of scarcity and what to do about it. Today many of these "free goods" are __61_ very expensive to use. Population has made clean air and water expensive for producers extra cost, and __62__ taxpayers who pay for the government's involvement in cleaning the environment.
In the 1990s, almost all goods are __63__. Only by effort and money can they be obtained .
Meeting needs of people and the demands from resource available __64__ the basic activity of production. In trying to meet unlimited wants from limited economic goods, production leads to new problems in economics.
50.A. limited    B. unlimited     C. scarcity       D. abundant
51.A. want       B. problem      C. wants          D. resources
52.A. those      B. some C. others         D. many
53.A. them       B. themselves C. ourselves    D. ours
54.A. expand   B. extends        C. grows          D. increase
55.A. always    B. sometimes          C. often D. never
56.A. management         B. function      C. board           D. group
57.A. people    B. economists C. way     D. methods
58.A. so   B. great   C. such    D. such an
59.A. much concern forB. no concern with     C. no concern for     D. much concern in
60.A. form        B. study C. means         D. source
61.A. possibly          B. in practice C. in fact          D. practically
62.A. from       B. at        C. for       D. with
63.A. plentiful          B. scarce         C. abundant    D. in full supply
64.A. are led to       B. leading to   C. lead to         D. leads to

Directions: For each blank in the following passage there are four words or phrases marked A, B, C and D. Fill in each blank with the word or phrase that best fits the context.

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 __50__. The only way we can solve the problem is to make choices. After looking at our resources, we must examine our list of __51__ and identify the things we need immediately, those we can postpone, and __52__ we cannot afford. As individuals, we face the central problem involved in economics---deciding how to allocate(分配) our limited resources to provide __53__ with greatest satisfaction of our wants.
    Nations face the same problem. As a country's population __54__, the need for more goods and services grows correspondingly. Resources necessary to production may increase, but there are __55__ 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 __56__ of directors, or in the chamber of the House of Representatives in Washington, the basic problem still exists. We need to find __57__ of allocating（分配） 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 __58__ abundance(丰富) that economists had___59____ them. After all, economics is the __60__ of scarcity and what to do about it. Today many of these "free goods" are __61_ very expensive to use. Population has made clean air and water expensive for producers extra cost, and __62__ taxpayers who pay for the government's involvement in cleaning the environment.
    In the 1990s, almost all goods are __63__. Only by effort and money can they be obtained .

Meeting needs of people and the demands from resource available __64__ the basic activity of production. In trying to meet unlimited wants from limited economic goods, production leads to new problems in economics.

50.A. limited  B. unlimited   C. scarcity     D. abundant

51.A. want     B. problem    C. wants        D. resources

52.A. those     B. some C. others        D. many

53.A. them     B. themselves  C. ourselves   D. ours

54.A. expand  B. extends      C. grows        D. increase

55.A. always   B. sometimes        C. often D. never

56.A. management        B. function    C. board        D. group

57.A. people   B. economists C. way   D. methods

58.A. so  B. great   C. such   D. such an

59.A. much concern forB. no concern with  C. no concern for   D. much concern in

60.A. form     B. study C. means       D. source

61.A. possibly       B. in practice        C. in fact       D. practically

62.A. from    B. at       C. for     D. with

63.A. plentiful      B. scarce        C. abundant   D. in full supply

64.A. are led to     B. leading to C. lead to       D. leads to

Directions: For each blank in the following passage there are four words or phrases marked A, B, C and D. Fill in each blank with the word or phrase that best fits the context.

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 __50__. The only way we can solve the problem is to make choices. After looking at our resources, we must examine our list of __51__ and identify the things we need immediately, those we can postpone, and __52__ we cannot afford. As individuals, we face the central problem involved in economics---deciding how to allocate(分配) our limited resources to provide __53__ with greatest satisfaction of our wants.

    Nations face the same problem. As a country's population __54__, the need for more goods and services grows correspondingly. Resources necessary to production may increase, but there are __55__ 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 __56__ of directors, or in the chamber of the House of Representatives in Washington, the basic problem still exists. We need to find __57__ of allocating（分配） 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 __58__ abundance(丰富) that economists had___59____ them. After all, economics is the __60__ of scarcity and what to do about it. Today many of these "free goods" are __61_ very expensive to use. Population has made clean air and water expensive for producers extra cost, and __62__ taxpayers who pay for the government's involvement in cleaning the environment.

    In the 1990s, almost all goods are __63__. Only by effort and money can they be obtained .

Meeting needs of people and the demands from resource available __64__ the basic activity of production. In trying to meet unlimited wants from limited economic goods, production leads to new problems in economics.

50.A. limited    B. unlimited     C. scarcity       D. abundant

51.A. want       B. problem      C. wants          D. resources

52.A. those      B. some C. others         D. many

53.A. them       B. themselves C. ourselves    D. ours

54.A. expand   B. extends        C. grows          D. increase

55.A. always    B. sometimes          C. often D. never

56.A. management         B. function      C. board           D. group

57.A. people    B. economists C. way     D. methods

58.A. so   B. great   C. such    D. such an

59.A. much concern forB. no concern with     C. no concern for     D. much concern in

60.A. form        B. study C. means         D. source

61.A. possibly          B. in practice C. in fact          D. practically

62.A. from       B. at        C. for       D. with

63.A. plentiful          B. scarce         C. abundant    D. in full supply

64.A. are led to       B. leading to   C. lead to         D. leads to

Businesses are structured in different ways to meet different needs.

The simplest form of business is called an individual proprietorship. The proprietor(经营者) owns all of the property of the business and is responsible for everything. This means that the proprietor gets to keep all of the profits of the business, but also must pay any debts. The law recognizes no difference between the owner and the business

           . Two or more people go into business together. An agreement is usually needed to decide how much of the partnership each person controls.

There are limited liability partnerships. These have full partners and limited partners. Limited partners may not share as much in the profits, but they also do not have as many responsibilities. Partnerships can end at any time. But partnerships and individual proprietorships exist only as long as the owners are alive.

The most complex kind of business organization is the corporation. Corporations are designed to have an unlimited lifetime.

Corporations can sell stock as a way to raise money. Stock represents shares of ownership in a company. Investors who buy stock can trade their shares or keep them as long as the company is in business. A company might use some of its earnings to pay dividends(红利) as a reward to shareholders. Or it might reinvest the money into the business.

If shares lose value, investors can lose all of the money they paid for their stock. But shareholders are not responsible for the debts of the corporation. A corporation is recognized as an entity(实体)——its own legal being, separate from its owners.

But not all corporations are traditional businesses that sell stock. There are nonprofit groups that are also organized as corporations.

1. What's the main idea of this passage? (within 10 words)

2. Please fill in the blank in Paragraph 3 with a proper sentence. (within 10 words)

3. Which sentence in the passage is the closest in meaning to the following one?

To put the profits into the business again might be another choice.

4. In what way are partnerships and corporations different from each other? Please list two main aspects. (each within 15 words)

(1)                                (2)                              

5. Please translate the underlined sentence.