Supply and Demand - Marvel Education

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Practice Reading: Fill in the Blanks (Dropdown) ID: #48483 Supply and Demand

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* Select the correct answer into all dropdown fields. You need to answer all questions before clicking verify button.

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:

A.I. Explanation:

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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