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Practice Reading: Fill in the Blanks (Dropdown) ID: #48483 Supply and Demand
Instructions ›
Below is a text with blanks. Click on each blank, a list of choices will appear. Select the appropriate choice for each blank.
The  supply  of  a  thing,  in  the  phrase  "supply  and  demand",  is  the  amount  that  will  be  offered  for  sale  at  each  of  a  series  of  prices;  the  demand  is  the  amount  that  will  be  bought  at  each  of  a  series  of  prices.  The  principle  that  value  depends  on  supply  and  demand  means  that  in  the  case  of  nearly  every  commodity,  more  will  be  bought  if  the  price  is  lowered,  less  will  be  bought  if  the  price  is  .  Therefore  sellers,  if  they  wish  to  induce  buyers  to    more  of  a  commodity  than  they  are  already  doing,  must  reduce  its  price;  if  they  raise  its  price,  they  will  sell  less.  If  there  is  a  general  falling  off,  if  in  demand  due,  say,  to  trade  depression  sellers  will  either  have  to    prices  or  put  less  on  the  ;  they  will  not  be  able  to  sell  the  same    at  the  same  price.

Result:

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Correct answer: raised

Explanation: The word 'raised' fits grammatically as it is the past participle of 'raise,' which is used in the passive voice construction here. It indicates that the price has been increased, aligning with the context of the sentence about price changes affecting demand.

Meaning: 'Raised' means to increase or elevate something, in this case, the price of a commodity.

Wrong options:

  • higher: The word 'higher' is an adjective and does not fit grammatically as it lacks the necessary verb form to complete the sentence.
  • kept: 'Kept' implies maintaining a state rather than changing it, which does not align with the context of price changes.
  • folded: 'Folded' is unrelated to pricing and does not convey any meaning relevant to the context of supply and demand.
Correct answer: take

Explanation: The verb 'take' is appropriate here as it indicates the action of buyers acquiring more of a commodity. It fits grammatically and contextually, as it directly relates to the act of purchasing.

Meaning: 'Take' means to acquire or receive something, in this case, more of a commodity.

Wrong options:

  • remove: 'Remove' suggests eliminating something rather than acquiring it, which contradicts the intended meaning of increasing purchases.
  • judge: 'Judge' does not relate to the act of buying and is irrelevant in this context.
  • hide: 'Hide' implies concealment, which does not fit the context of purchasing more of a commodity.
Correct answer: treat

Explanation: The verb 'treat' fits grammatically as it suggests how sellers will handle or manage prices in response to demand changes. It aligns with the context of adjusting prices during a trade depression.

Meaning: 'Treat' means to handle or deal with something in a particular way, in this case, prices.

Wrong options:

  • trade: 'Trade' is a noun or verb that does not fit the context of managing prices; it does not convey the necessary action regarding price adjustments.
  • treat: This option is the correct answer, so it cannot be wrong.
  • describe: 'Describe' implies explaining something rather than taking action on prices, which does not fit the context.
Correct answer: market

Explanation: The noun 'market' is appropriate here as it refers to the place where commodities are bought and sold. It fits grammatically and contextually, as it relates to the selling of goods.

Meaning: 'Market' refers to a system or place where buying and selling occurs, particularly for commodities.

Wrong options:

  • store: 'Store' refers to a place for keeping goods and does not fit the context of selling commodities.
  • way: 'Way' is too vague and does not specifically relate to the selling of commodities in this context.
  • panel: 'Panel' does not relate to the concept of selling goods and is irrelevant in this context.
Correct answer: amount

Explanation: The noun 'amount' fits grammatically as it refers to a quantity of something, which is relevant in the context of selling commodities. It aligns with the overall discussion of supply and demand.

Meaning: 'Amount' refers to a quantity or total of something, in this case, the quantity of commodities sold.

Wrong options:

  • quality: 'Quality' refers to the standard of something rather than the quantity, making it irrelevant in this context.
  • patch: 'Patch' does not relate to the concept of quantity in selling commodities and is not contextually appropriate.
  • deal: 'Deal' typically refers to an agreement or transaction rather than a quantity, which does not fit the context.

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