However wealthy we may be, we can never find enough hours in the day to do everything we want. Economics deals with this problem through the concept of opportunity cost, which simply refers to whether someone's time or money could be better spent on something else.
Every hour of our time has a value. For every hour we work at one job we could quite easily be doing another, or be sleeping or watching a film. Each of these options has a different opportunity cost-namely, what they cost us in missed opportunities.
Say you intend to watch a football match but the tickets are expensive and it will take you a couple of hours to get to and from the stadium. Why not, you might reason, watch the game from home and use the leftover money and time to have dinner with friends? This-the alternative use of your cash and time-is the opportunity cost.
For economists, every decision is made by knowledge of what one must forgo-in terms of money and enjoyment-in order to take it up. By knowing precisely what you are receiving and what you are missing out on, you ought to be able to make better-informed, more reasonable decisions. Consider that most famous economic rule of all: there's no such thing as a free lunch. Even if someone offers to take you out to lunch for free, the time you will spend in the restaurant still costs you something in terms of forgone opportunities.
Some people find the idea of opportunity cost extremely discouraging: imagine spending your entire life calculating whether your time would be better spent elsewhere doing something more profitable or enjoyable. Yet, in a sense it's human nature to do precisely that-we assess the advantages and disadvantages of decisions all the time.
In the business world, a popular phrase is "value for money." People want their cash to go as far as possible. However, another is fast obtaining an advantage: "value for time." The biggest restriction on our resources is the number of hours we can devote to something, so we look to maximize the return we get on our investment of time. By reading this passage you are giving over a bit of your time which could be spent doing other activities, such as sleeping and eating. In return, however, this passage will help you to think like an economist, closely considering the opportunity cost of each of your decisions.
According to the passage, the concept of "opportunity cost" is applied to
The "leftover ... time" in Paragraph 3 probably refers to the time
What are forgone opportunities?
Last year, my boyfriend suggested that I should run the London marathon, and I laughed. He laughed too, but he laughed too long and too loud. That made me think. I realized that he didn’t believe that I could do it. That made me angry, and determined. Now he knows that I can!
Training wasn’t easy, but I kept going. I didn’t need special training but I did need to buy very good shoes. Each day, I went a little further. By the end of three months, I was running five days a week. Sometimes in the evenings I ran 10 km; on Sunday mornings, I sometimes ran about 30 km. I used to come home, have a shower and eat my breakfast. I felt wonderful!
On the day of the race in London, I lined up with about 30,000 other runners. The faster runners were at the front, while slower runners like me were placed further back. In that way, the professional runners and club runners were not slowed down by the amateurs.
At first, there were so many runners close together that we were almost falling over each other. We could only run very slowly but that was a good thing because it meant that we didn’t rush off too quickly. Gradually the runners spread out and there was more space. There were thousands of people watching us along the route and they cheered and clapped everyone, even the slowest runner. It was wonderful!
For the first 10 km I felt very happy and my legs felt very comfortable. However, at 15 km I got a pain in my side and running became difficult, but I kept going and the pain disappeared. At the 30 km mark, I felt extremely tired, and wanted to stop, but I kept on going. I covered another 3 km and then I began to feel better again.
By the time I reached the 35 km mark, I knew I was going to get to the end of the course. Somehow that confidence made me feel lighter and faster and it seemed as if my legs flew over the last few kilometers. I passed hundreds of slower runners, some of whom had passed me earlier, and I felt wonderful! As I came round the last bend and saw the finishing line, I could see three runners ahead of me. I raced past all of them to finish the race in just under four hours. The winner had completed the race in 2 hours and 10 minutes, but I didn’t care! I had run 42 km and completed my first marathon!The writer’s boyfriend laughed at her because.
| A．he thought she could run the marathon |
| B．he didn’t think she could run the marathon |
| C．he wanted her to run the marathon |
| D．she wanted to run the marathon |
When the race began .
| A．all the faster runners were asked to stand before those slower ones |
| B．many runners fell over each other |
| C．all the runners were asked to run slowly |
| D．the professional runners and club runners ran very fast |
The hardest time for the writer was when she.
| A．had run for 15 kilometers |
| B．got a pain in her side |
| C．reached the 30 kilometer mark |
| D．was about to reach the finish line |
The passage suggests that it is better to start a long race slowly .
| A．than to run at the same speed all the time |
| B．than to run too fast at the beginning |
| C．than to run slowly at the end |
| D．than to run very fast all the time |
Money spent on advertising is money spent as well as any I know of. It serves directly to assist a rapid distribution of goods at reasonable prices, thereby establishing a firm home market and so making it possible to provide for export at competitive prices. By drawing attention to new ideas it helps enormously to raise standards of living. By helping to increase demand it ensures an increased need for labor, and is therefore an effective way to fight unemployment. It lowers the costs of many services: without advertisements your daily newspaper would cost four times as much, the price of your television license would need to be doubled, and travel by bus or tube would cost 20 per cent more.
And perhaps most important of all, advertising provides a guarantee of reasonable value in the products and services you buy. Apart from the fact that twenty-seven Acts of Parliament govern the terms of advertising, no regular advertiser dare promote a product that fails to live up to the promise of his advertisements. He might fool some people for a little while through misleading advertising. He will not do so for long, for mercifully the public has the good sense not to buy the inferior article more than once. If you see an article consistently advertised, it is the surest proof I know that the article does what is claimed for it, and that it represents good value.By the first sentence of the passage, the author means that______.
| A．he is fairly familiar with the cost of advertising |
| B．everybody knows well that advertising is money consuming |
| C．advertising costs money like everything else |
| D．it is worthwhile to spend money on advertising |
In the passage, which of the following is not included in the advantage of advertising?
| A．Securing greater fame. | B．Providing more jobs. |
| C．Improving living standards. | D．Reducing newspaper cost. |
According to the author, _____.
| A．the consumers are often fooled by misleading advertising. |
| B．no advertiser dare promote a product that can't live up to the promise of his advertisement. |
| C．if an article is consistently advertised, it probably has good value. |
| D．with advertisements, you have to pay more for the goods or services you need. |
From the passage, we can draw a conclusion that____.
| A．the most importance of advertisements is to lower the cost of many services |
| B．the twenty-seven Acts of Parliament made misleading advertisements unable to exist |
| C．advertising assists a rapid distribution of goods, thereby do good to the import at good prices |
| D．advertising does a lot for the material benefit of the community |
The Atlantic Ocean is one of the oceans that separate the Old World from the New. For centuries it kept the Americans from being discovered by the people of Europe.
Many wrong ideas about the Atlantic made early sailors unwilling to sail far out into it. One idea was that it reached out to “the edge of the world.” Sailors were afraid that they might sail right off the earth. Another idea was that at the equator the ocean would be boiling hot.
The Atlantic Ocean is only half as big as the Pacific, but it is still very large. It is more than 4,000 miles (6,000km) wide where Columbus crossed it. Even at its narrowest it is about 2,000 miles (3,200km) wide.
Two things make the Atlantic Ocean rather unusual. For so large an ocean it has very few islands. Also, it is the world’s saltiest ocean.
There is so much water in the Atlantic that it is hard to imagine how much there is. But suppose no more rain fell into it and no more water was brought to it by rivers. It would take the ocean about 4,000 years to dry up. On the average the water is a little more than two miles (3.2km) deep, but in places it is much deeper. The deepest spot is near Puerto Rico. This “deep” measures 30,246 feet-almost six miles (9.6km).
One of the longest mountain ranges of the world rises from the floor of the Atlantic. This mountain range runs north and south down the middle of the ocean. The tops of a few of the mountains reach up above the sea and make islands.
Several hundred miles eastward from Florida there is a part of the ocean called the Sargasso Sea. Here the water is quiet, for there is little wind. In the days of sailing vessels(船) the crew were afraid they would be becalmed(停滞不前) here. Sometimes they were.
Today the Atlantic is a great highway. It is not, however, always a smooth and safe one. Storms sweep across it and pile up great waves. Icebergs float down from the Far North across the paths of ships.
We now have such fast ways of traveling that this big ocean seems to have grown smaller. Columbus sailed for more than two months to cross it. A fast modern steamship can make the trip in less than four days. Airplanes fly from New York to London in only eight hours and from South America to Africa in four!Which world is the Old World?
| A．Africa | B．Europe | C．Asia | D．All of above |
What caused people to be unwilling to explore the Atlantic?
| A．There are no ships big enough to get across the Ocean. |
| B．Sailors were afraid of being lost in the Ocean. |
| C．The Atlantic Ocean was very unusual because it has few islands and the saltiest water. |
| D．Many incorrect ideas such as “the edge of the world”, “the equator with boiling hot water”, made people think the Ocean was full of danger. |
What is the topic of the fifth paragraph?
| A．How deep the water is |
| B．How to measure the water in the Atlantic Ocean |
| C．How much water the Ocean holds. |
| D．How rain affects the Ocean water. |
We can learn from the text that ______.
| A．the Atlantic is the largest ocean on earth |
| B．one of the longest mountain ranges lies in the Atlantic |
| C．the Atlantic has a lot of islands in it |
| D．sailing on the Atlantic Ocean is always quiet, smooth and safe |
The first time I saw Carlos I would never have believed he was going to change my life. I had my arms full of books and I was tearing into the classroom when I ran into something solid. It was Carlos.
“My, you’re tall,” he said.
Of course, the class began to laugh. Angry, I walked to my seat without a word.
I glanced back to see if Reed Harrington was laughing with the rest. That would be the last straw. But Reed was studying chemistry and did not seem to be aware of anything else. I didn’t know why I considered Reed my friend. Maybe just because he was a good two inches taller than I. Anyway, every time I blew out my birthday candles and made a wish, it was for a date with Reed Harrington. “Take that seat,” Mr. McCarthy told the proud newcomer Carlos, pointing to the only empty one, in the back of the room.
Carlos smiled broadly. “But I need a couple of dictionaries.” Again the class laughed, but now they were laughing with Carlos, not at him. He had been here only 10 minutes and already he had them on his side.
It was the school elections that made me think of Carlos again. Reed Harrington was voted president and Carlos vice president. “How come?” I kept asking myself. “How come this shrimp(虾) who’s only been in town for a little over a month gets to be so popular.”
So on that morning, I stopped Carlos and said, “It doesn’t seem to bother you—being short.” He looked up at me.“Of course I mind being short. But there isn’t anything I can do about it. When I realized I was going to have to spend my life in this undersized skin, I just decided to make the best of it and concentrate on being myself.” “You seem to get along great,” I admitted. “But what about me? Nobody wants to date a girl taller than he is.” “The trouble with you is you’re afraid to be yourself. You’re smart. And you could be pretty. In fact, you might be more than pretty.” I felt myself turning red... Which of the following is true according to the passage?
| A．The writer cared much about Reed’s attitude. |
| B．Carlos isn’t popular with the classmates. |
| C．The writer is always confident with herself. |
| D．Carlos always makes fun of the writer. |
From the passage, we can conclude _______________.
| A．Carlos is as tall as the writer |
| B．Carlos fell love with the writer later |
| C．the writer is very tall |
| D．Reed, Carlos and the writer became good friends later |
What can we use to describe Carlos’ character?
| A．Handsome and proud | B．Humorous and confident |
| C．Diligent and helpful | D．Hardworking and popular |
What’s the best title of the passage?
| A．A girl and a boy. | B．My shortcomings. |
| C．My helpful classmates. | D．A change in my life. |
Coffee has a history dating back to at least the 9th century and has been a catalyst for social interaction across cultures and eras. Originally discovered in Ethiopia, coffee beans were brought into the Middle East by Arab traders, spreading to Egypt, Yemen, Persia, Turkey, and North Africa by the 15th century. Muslim merchants eventually brought the beans to the thriving port city of Venice, where they sold them to wealthy Italian buyers. Soon, the Dutch began importing and growing coffee in places like Java and Ceylon (largely through slave labor), and the British East India Trading Company was popularizing the beverage in England. Coffee spread across Europe and even reached America.
Where there has been coffee, there has been the coffeehouse. From the 15th century Middle Eastern establishments where men gathered to listen to music, play chess, and hear recitations from works of literature, to Paris' Cafe le Procope where luminaries of the French Enlightenment such as Voltaire, Rousseau, and Diderot came to enjoy a hot cup of joe, coffeehouses have traditionally served as centers of social interaction, places where people can come to relax, chat, and exchange ideas.
The modern coffee shop is modeled on the espresso and pastry-centered Italian coffeehouses that arose with the establishment of Italian-American immigrant communities in major US cities such as New York City's Little Italy and Greenwich Village, Boston's North End, and San Francisco's North Beach. New York coffee shops were often frequented by the Beats in the 1950's. It wasn't long before Seattle and other parts of the Pacific Northwest were developing coffee shops as part of a thriving counterculture scene. The Seattle-based Starbucks took this model and brought it into mainstream culture.
Although coffeehouses today continue to serve their traditional purpose as lively social hubs in many communities, they have noticeably adapted to the times. Rediscovering their purpose as centers of information exchange and communication, many coffee shops now provide their customers with internet access and newspapers. It has become extremely common to see someone sitting at a Starbucks listening to music or surfing the web on his or her laptop. Coffee stores today also maintain a fairly identifiable, yet unique aesthetic: wooden furniture and plush couches, paintings and murals drawn on walls, and soft-lighting combine to give coffee shops the cozy feeling of a home away from home.
Today, big business retail coffee shops are expanding quickly all over the world. Starbucks alone has stores in over 40 countries and plans to add more. Despite its popularity, Starbucks has been criticized and labeled by many as a blood-sucking corporate machine, driving smaller coffee shops out of business through unfair practices. This has even spawned an anti-corporate coffee counterculture, with those subscribing to this culture boycotting big business coffee chains. Increasingly popular coffee stores such as The Coffee Bean and Tea Leaf are also giving Starbucks some stiff competition. In any case, it seems pretty clear that coffee has weaved itself into the fabric of our consumer-oriented culture. Which of the following is the correct order of coffee spreading in history?
①Egypt②America③the Middle East④Netherlands⑤Venice
| A．①③④②⑤ | B．③①⑤④② | C．①⑤④③② | D．③②⑤④① |
We can infer from the passage ________.
| A．Starbucks has beaten all the competitors |
| B．there are no changes in the development of coffee culture |
| C．the taste of coffee has changed a lot |
| D．Starbucks has some effect on the development of coffee culture |
The famous coffeehouse “Starbucks” originally come from _______.
| A．Seattle | B．Ethiopia | C．Java | D．France |
Nowadays, if you come to a coffeehouse, you can _______.
| A．play chess with other customers |
| B．enjoy delicious dishes from South America |
| C．surf the internet |
| D．watch a TV play |