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Practice Reading: Fill in the Blanks (Dropdown) ID: #49464 Economics
Instructions ›
Below is a text with blanks. Click on each blank, a list of choices will appear. Select the appropriate choice for each blank.
Economics  is  the  study  of  choices.  Though  some  believe  that  economics  is  driven  purely  by  money  or  capital,  the  choice  is  much  more  .  If  the  study  of  economics  is  the  study  of  how  people  choose  to  use  their  resources,  analysts  must  also  consider  all  of  their  possible  resources,  of  which  money  is  but  one.  In  practice,  resources  can    everything  from  time  to  knowledge  and  property  to  tools.  As  such,  economics  helps  illustrate  how  people  interact  within  the  market  to    their  diverse  goals.  Beyond  defining  what  these  resources  are,  the  concept  of  scarcity  is  also  an  important  consideration.  These  resources  —  no  matter  how  broad  the  category  —  are  limited,  which  is  the  source  of  tension  in  the  choices  people  and  society  make:  Their  decisions  are  a  result  of  the    tug  of  war  between  unlimited  wants  and  desires  and  limited  resources.

Result:

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Correct answer: expansive

Explanation: The word 'expansive' fits grammatically as it describes the broad nature of choices in economics, aligning with the context that economics involves more than just money. It indicates a wide range of options and considerations, which is essential in understanding economic choices.

Meaning: 'Expansive' means covering a wide area or scope, suggesting that economic choices are not limited to financial aspects but include various resources and factors.

Wrong options:

  • discursive: 'Discursive' refers to a style of discourse that is lengthy and rambling, which does not fit the context of describing the nature of economic choices.
  • permissive: 'Permissive' implies allowing or granting permission, which does not accurately describe the breadth of choices in economics.
  • expensive: 'Expensive' relates to high cost, which is not relevant to the concept of the nature of choices in economics.
Correct answer: encompass

Explanation: The word 'encompass' is appropriate as it means to include or cover a wide range of elements, fitting perfectly in the context of resources in economics. It aligns with the idea that resources include various aspects beyond just money.

Meaning: 'Encompass' means to surround or include something completely, indicating that resources in economics can include many different types.

Wrong options:

  • trespass: 'Trespass' means to invade or intrude, which does not fit the context of discussing the inclusion of resources.
  • surpass: 'Surpass' means to exceed or go beyond, which does not convey the idea of including various resources.
  • debate: 'Debate' refers to a discussion or argument, which is not relevant to the context of including resources.
Correct answer: realize

Explanation: The word 'realize' fits grammatically and contextually as it indicates the act of achieving or making something a reality, which is essential in the context of utilizing resources to meet goals in economics.

Meaning: 'Realize' means to become fully aware of something or to make something happen, indicating the process of achieving diverse goals through economic choices.

Wrong options:

  • idolize: 'Idolize' means to admire or worship excessively, which does not relate to the context of achieving goals in economics.
  • utilize: 'Utilize' means to make practical use of something, but it does not convey the sense of achieving or realizing goals as effectively as 'realize.'
  • finalize: 'Finalize' means to complete or settle, which does not fit the context of achieving or making goals a reality.
Correct answer: constant

Explanation: The word 'constant' is suitable as it describes something that is unchanging or persistent, which aligns with the ongoing struggle between unlimited wants and limited resources in economics.

Meaning: 'Constant' means occurring continuously over a period of time, indicating the perpetual nature of the tension in economic choices.

Wrong options:

  • resonant: 'Resonant' refers to having a lasting impact or echoing, which does not accurately describe the nature of the struggle in economic choices.
  • extant: 'Extant' means still in existence, which does not fit the context of describing the ongoing tension in economics.
  • blatant: 'Blatant' means done openly and unashamedly, which does not relate to the concept of a continuous struggle in economic decision-making.

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