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Practice Listening: Select Missing Word ID: #35150 Short Oil Price
Instructions ›
You will hear a recording about a topic. At the end of the recording the last word or group of words has been replaced by a beep. Select the correct option to complete the recording.

Transcript:

A supply curve shows how much of a good suppliers are willing and able to supply at different prices. As with the demand curve, there's a supply curve for every good and service. And again the ideas are the same, so let's look at the supply curve for oil. We see an intuitive relationship between price and the quantity supplied. As the price goes up, the quantity of oil that companies are willing to supply increases. In this example, in a low price, $5 per barrel, let's say 10 million barrels of oil are supplied per day. At $20 per barrel, 25 million barrels are supplied, and at $55 per barrel, 50 million barrels are supplied. So in general, a higher price means...
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Result:

AI explanationShows the answer. Tap to open.
Option 2: "a greater quantity supplied"

Explanation: This option aligns perfectly with the main idea of the text, which explains that as the price of oil increases, the quantity supplied also increases. The text provides specific examples showing that at higher prices, more barrels of oil are supplied, confirming that a greater quantity is supplied at higher prices.

Option 1: "a smaller quantity supplied"

Explanation: This option contradicts the main idea presented in the text. The text states that as the price increases, the quantity of oil supplied also increases. Therefore, saying 'a smaller quantity supplied' is incorrect as it goes against the relationship described.

Option 3: "higher quality"

Explanation: This option is incorrect because the text does not discuss quality at all. It focuses solely on the relationship between price and quantity supplied, making 'higher quality' irrelevant to the context.

Option 4: "lower quality"

Explanation: Similar to Option 3, this option is incorrect as the text does not mention quality. The focus is on the quantity supplied in relation to price, and thus 'lower quality' does not fit the context.

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