Supply and Demand - Marvel EDU

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Practice Reading: Fill in The Blanks (Drag & Drop) ID: #49332 Supply and Demand

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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 take 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 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. Similarly with supply. At a certain price a certain amount will be offered for sale, at a higher price more will be offered, at a lower price less. If consumers want more, they must offer a higher price; if they want less, they will probably be able to force prices down. That is the first result of a change in demand or supply.

raised rate recorded admit amount reduce market

Result:

AI explanationShows the answer. Tap to open.

Correct answer: raised

Explanation: The word 'raised' is the past participle of the verb 'raise,' which fits grammatically as it describes the action of increasing the price. In this context, it aligns with the principle that higher prices lead to lower demand, maintaining the logical flow of the sentence.

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

Wrong options:

admit: 'Admit' is a verb meaning to allow entry or acknowledge, which does not fit the context of price changes.
recorded: 'Recorded' is the past participle of 'record,' meaning to document or register, which is irrelevant to the context of pricing.
amount: 'Amount' is a noun that refers to a quantity, but it does not describe an action related to price changes.
market: 'Market' is a noun referring to a place for buying and selling, which does not fit as a verb in this context.
reduce: 'Reduce' is a verb meaning to decrease, which contradicts the context of increasing prices.
rate: 'Rate' is a noun that refers to a measure or value, but it does not fit grammatically as an action related to price.

Correct answer: reduce

Explanation: The word 'reduce' is a verb that means to make smaller or less in amount, which fits grammatically and contextually as it describes the action sellers must take when demand falls. This maintains the logical flow of the sentence regarding price adjustments.

Meaning: 'Reduce' means to decrease or lessen something, in this case, the prices of commodities.

Wrong options:

admit: 'Admit' does not fit as it refers to allowing entry or acknowledging something, which is unrelated to pricing.
recorded: 'Recorded' is irrelevant as it pertains to documentation rather than pricing actions.
amount: 'Amount' is a noun and does not convey an action, making it unsuitable in this context.
market: 'Market' is a noun that does not fit as a verb in this context, as it does not describe an action related to pricing.
raised: 'Raised' is the past participle of 'raise,' which contradicts the need for a decrease in this context.
rate: 'Rate' is a noun that does not fit grammatically as an action related to price adjustments.

Correct answer: market

Explanation: The word 'market' is a noun that refers to the environment or arena in which commercial dealings occur. It fits grammatically and contextually as it describes where commodities are sold, maintaining the logical flow of the sentence.

Meaning: 'Market' refers to a place or system where goods and services are exchanged.

Wrong options:

admit: 'Admit' is a verb that does not fit as it does not relate to a place of commerce.
recorded: 'Recorded' is a past participle that does not fit as it does not describe a location.
amount: 'Amount' is a noun that refers to a quantity, which does not fit as a place for selling.
reduce: 'Reduce' is a verb that does not fit as it does not describe a location.
raised: 'Raised' is a past participle that does not fit as it does not describe a place.
rate: 'Rate' is a noun that refers to a measure, which does not fit as a location for selling.

Correct answer: amount

Explanation: The word 'amount' is a noun that refers to a quantity of something. It fits grammatically and contextually as it describes the quantity of goods that can be sold at a given price, maintaining the logical flow of the sentence.

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

Wrong options:

admit: 'Admit' is a verb that does not fit as it does not refer to a quantity.
recorded: 'Recorded' is a past participle that does not fit as it does not describe a quantity.
market: 'Market' is a noun that refers to a place of commerce, which does not fit as a quantity.
reduce: 'Reduce' is a verb that does not fit as it does not describe a quantity.
raised: 'Raised' is a past participle that does not fit as it does not refer to a quantity.
rate: 'Rate' is a noun that refers to a measure or value, which does not fit as a quantity of goods.

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