A. Fill in the blanks with the words in the box.

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1. Indian banks may to meet their priority sector lending targets this financial year 2. Solutions remain not affected by the quot chilling actual premium offers. 3. This approach will an understanding of environment issue. 4. means working towards simple living by making conscious choices to leave materialism behind and move on to a more sustainable lifestyle. 5. He is also a very teacher having taught over a hundred pupils both in Cyprus and England. 6. We need to the problems we can solve from the ones we can't. 7. Unfortunately, giving perfectly sensible commands does not often a sensible response. 8. Rather than just replacing welding techniques, lasers can now deliver "brand new processing systems". 9. The next cycle starts either to improve upon the outcome or to overcome the of the previous cycle. 10. That was a graphic of what can happen. 11. Consequently, as nikon focuses more on the digital camera business, the company must adopt appropriate to ensure its continued success. 12. When everyone suddenly becomes obsessed with a hot new band that came out of nowhere, this is an example of a . 13. There are no exchange controls but transactions in foreign currency must be through an authorized . 14. Whatever we is due to the combined effort. 15. Summer jobs for teenagers do not have to be restricted to working at a retail or at a fast food restaurant.

B. Read the paragraph and answer the questions Most economists in the United states seem captivated by spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market. A price that is determined by the seller or for that matter, established by anyone other than the aggregate of consumers seems pernicious, Accordingly, it requires a major act of will to think of price fixing (the determination of prices by the seller) as both normal and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that requires, modern industrial planning requires and rewards great size. Hence a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-markets economic theories. But each large firms will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers. Each large firm will thus avoid significant price cutting, because price cutting would be prejudicial to the common interest in a stable demand for products. Most economists do not see pricefixing when it occurs because they expect it to be brought about by a number of explicit agreements among large firms; it is not.

More over those economists who argue that allowing the free market to operate without interference is the most efficient method of establishing prices have not considered the economies of non socialist countries other than the United States. These economies employ intentional price-fixing usually in an overt fashion. Formal price fixing by cartel and informal price fixing by agreements covering the members of an industry are common place. Were there something peculiarly efficient about the free market and inefficient about price fixing, the countries that have avoided the first and used the second would have suffered drastically in their economic development. There is no indication that they have. Socialist industry also works within a frame work of controlled prices. In early 1970s, the soviet union began to give firms and industries some of the flexibility in adjusting prices that a more informal evolution has accorded the capitalist system. Economists in

the United States have hailed the change as a return to the free market. But Soviet firms are no more subject to prices established by free market over which they exercise little influenced than are capitalist firms. I. True or False ? 16. The primary purpose of the passage is to argue that price-fixing, in one form or another, is an inevitable part of and benefit to the economy of any industrialized society. 17. According to the author, price-fixing in non-socialist countries is often legal and innovative. 18. Soviet firms have some authority to fix prices is the result of the Soviet Unions change in economic policy in the 1970s. 19. It can be inferred from the authors argument that a price fixed by the seller seems pernicious because most economists believe that no one group should determine prices. 20. In the passage, the author is primarily concerned with summarizing conflicting opinions.

II. Answer the questions 21. Why is price-fixing normal in all industrialized societies? 22. Who decided formal and informal price? 23. Why do most economists not see price-fixing when it occurs? 24. What did Soviet union give firms and industries in early 1970s? 25. What did price cutting influenced on?

III. Read the text below and rearrange the passages provided into the correct order. A. Due to the difficulty and expense of working on an isolated island, construction took nearly a decade. After the statue was completed in 1886, President Grover Cleveland came to New York to preside over the dedication ceremony. After the unveiling, the Statue of Liberty became a beacon of freedom for both newly arriving immigrants and longtime city dwellers. But after decades of exposure to pollution and harsh ocean air, time had taken its toll on Lady Liberty, as the statue is sometimes called. A full century after the dedication, a restoration effort was launched to repair damage from age and the

elements. Funded by both the French and American governments, the renovation of the statue required enclosing it in a scaffold while workers renovated the copper sheeting and replaced the glass torch with a gold one. The newly restored monument was unveiled a few years later, as vibrant and inspiring as ever. D. The statue is made of thin copper sheets, each just a tenth of an inch thick. They are riveted to an iron framework, which forms the shape of the statue. The statue itself is 151 feet tall, but it stands on top of a large pedestal made of concrete and granite, which was designed by American architect Richard Morris Hunt. The total height of the statue and the pedestal is 305 feet, making it a spectacular sight on the New York City skyline, visible from miles away. The statue holds a torch in one hand, which is meant to symbolize liberty. In the other hand, the figure clutches a book, upon which the date of Americas declaration of independence, July 4, 1776, is marked. B. Since the French government donated the money for the project, French sculptor Frederic-Auguste Bartholdi and engineer Gustav Eiffel were put in charge of the design. The massive structure was assembled in Paris, where it was put on exhibition before being dismantled, then shipped to New York and finally reassembled on Bedloe Island, which was later renamed Liberty Island. C. In 1877, to celebrate the centennial anniversary of Americas independence from England, the French government presented the United States with a colossal statue that has come to be one of the most beloved symbols of America. The gift was presented in honor of the alliance between France and America during the Revolutionary War. The formal name of the figure is Liberty Enlightening the World, but it is almost universally known as the Statue of Liberty. 26272829-

C. Writing You are working for Export Import Company and have to send an email for your boss about annual appraisal review. Writing a report of the scheme review with 200 words.