Where Prices Come From：The Interaction of Demand and Supply

1、The primary focus of economics is on: (A)A、The related problems of scarcity and choice.B、How to make money on the stock market.C、Why there are no choices to be made.D、Mathematical estimation of theoretical models.2、When there are insufficient resources to satisfy all individual wants;(D)A、Government has to decide which wants go unsatisfied.B、A market system must be implementedC、Choices must be made.D、Prices must rise.3、The primary implication of scarcity is that; (C)A、One should never wait until tomorrow to buy something that is available today.B、Government planning is required to determine how resources are to be used.C、Choice must be madeD、The standard of living will decline over time.4、Time: (D)A、is not a scarce resource because there’s always tomorrowB、Is a scarce resource for producers, but not for consumers.C、Is a scarce resource for consumers. but not for producers.D、is a scarce resource for everyone5、Economics is about how individuals and countries; (A)A、Satisfy unlimited wants with limited resources;B、Satisfy limited wants with unlimited resourcesC、Satisfy unlimited wants with unlimited resources.D、Satisfy limited wants with limited resources6、Scarcity; (D)A、Reflects greedB、indicates the need for a control planning authorityC、Indicates the need for free marketsD、Requires making choices among alternatives.7、When resources are limited but wants are unlimited individuals must; (A)A、Make choices among available automotives.B、Put the public incrust before self-interestC、Become less greedy.D、Reduce their expectations8、In the United States, the question of which goods are produced, and in what Quantities, are primarily answered by: (D)A、The governmentB、Producers.C、Consumers and the governmentD、Consumers and producers;9、The numbers of automobiles, televisions, and pizzas that are produced at any point in time represent and answer to the basic economic question of ; (B)A、How items are produced.B、Which goods are produced, and in what quantities.C、For whom these items are produced.D、Who makes economic decisions10、In the United States, goods are primarily produced for; (C)A、Those who want there but cannot afford themB、Those who can afford them but do not want them;C、Those who want them and can afford them;D、Those who need them but cannot afford them;11、Under a system of central planning;(D)A、The government is involved only in the basic economic question of which goods are produced;B、The government is involved only in the basic economic questions of how goods are produced.C、The market system is left to function in less complex markets;D、The government answers the threes basic economic questions;12、When economists talk about a mixed economy they referring to the; (B)A、Interlaken between the product and labor markets;B、Observation that both government and individuals make decisions;C、Interaction between consumers and products;D、Relationship between microeconomics and macroeconomics;13、The United States is an example of a economy, in which markets censure the of the economy and the government addresses concerns of(B)A、C entrally planned ; efficiency; equity;B、M ixed; efficiency;equity;C、M arket: equity; efficiency;D、M ixed: equity; efficiency;14、Markets: (D)A、Allow buyers and sellers to communicate their desire to make exchanges.B、Will not resolve the question of how much of each good is produced.C、Will not resolve the economic question of for whom goods are produced;D、Eliminate scarcity and the problems associated with limited resources.(削减)15、in a market economy; the questions of which goods are produced, and in what quantities, are answered by; (D)A、the government;B、producersC、consumers and government;D、consumers and producers;16、The market system will not; (A)A、Provide individuals with all they want;B、Determine how goods are produced;C、Determine which goods are produced;D、Determine for who goods are produced.17、All of the following, except one are accurate descriptions of the U.S.g overnment’s role. Which is not true? (B)A、It sets the legal structure under which firms and individuals operate.B、It answers the basic economic question of which goods are produced and in what quantities.C、It supplies goods and services not provided by the market;D、It aids many of those citizens who are disadvantaged.18、In the product market; households; (B)A、are sellers of goods;B、are buyers of goods;C、determine how goods are produced;D、are sometimes buyers; sometimes sellers, of goods.19、Microeconomics is that branch of economics that focuses primarily on: (D)A、inflation and unemployment;B、Behavior in highly aggregated markets;C、Economic growth in less developed countries;D、The behavior of firms, households, and individuals20、All of the following except one ,would an appropriate focus of study for microeconomics Which is not? (B)A、The determination of prices in the computer industry;B、The determination of the rate of inflation;C、The level of production by a firm in the compact disc industryD、The interaction of supply and demand in the corn market.21、Macroeconomics is that branch of economics that focuses primarily on: (C)A、Market economies;B、The behavior of individual units;C、Economic aggregates such as unemployment and inflation;D、Centrally planned economies;22、Positive economics; (D)A、Is of no help in making judgments;B、Concerns what should be;C、Is a subset of normative economics;D、Predicts the consequences of actions;23、Which of the following is a positive economic statement? (C)A、Unemployment insurance is too low;B、Lowering unemployment is more important than curbing inflationC、The typical doctor earns more than the typical blue-collar worker;D、Unemployment insurance is too high.24、Normative economics; (C)A、Describes how the economy operates;B、Focuses on what is ;C、Concerns what should be;D、Predicts the consequences of actions;25representsA、macroeconomic analysis;B、a shot in the dark;C、microeconomic analysis.D、positive economic analysis.26、The belief that individuals weigh the costs and benefits of each possibility open to them is referred to as the assumption of; (A)A、opportunity cost;B、scarcity;C、production possibilities;D、rational choice;27、The economist’s assumption of rational choice is based on the expectation that individuals: (B)A、Use economic models to make choices.B、Make choices and decisions in pursuit of self-interest;C、Collect all possible information prior to making a choice.D、All have the same preferences;28、In their study of rational consumers, economists focus on; (C)A、What determines the goals and desires of consumers;B、Why different consumers have different preferences;C、How consumers’ preferences affect the choices consumers make;D、Why consumers’ prefer ences change over time;29、Rationality in the case of fins is taken to man that they strive to : (A)A、Maximize profits;B、Charge the highest possible price;C、Maximize revenues;D、Sell the highest quantity prosodic;30、Competitive markets are efficient This means that; （D）A、Scarcity is eliminated;B、it is possible to produce more of all goods with existing resources;C、The only way to produce more is to put currently idle resources to work;D、it is not possible to produce more on one good without producing less of some other good.31、Which of the following is the most eccentrically efficient method of allocating resources? (B)A、LotteriesB、pricesC、RationingD、first-come, first served32、Assume that pizza and Coke are the only two goods available to Ian. The price of Coke is $2 per pitcher and Pizza is $1 per slice If lane has $20 to spend, which graph in Figure represents 1an s budget constraint? (D)A、Graph aB、Graph bC、33、Anthony spends all his income on loaves of brand and fish Bread costs S2 per loaf and fish are SS. Anthony’s income is S20 Which of the following combinations of loaves and fish lies on Anthony’s budget constraint? (B)A、4 loaves and 3 fishB、5 loaves and 2 fishC、6 loaves and 2 fishD、7 loaves and 2 fish34、Figure 2 shows Christopher’s budget constraint. What is the price of attending a movie if Christopher’s income is ＄30? (A)A、＄1.5B、＄2C、＄5D、S1535、remaining eight hours swimming and watching TV. If the were to ignore the time she spends working and sleeping her time constraint would indicate; (A)A、The various combinations of hours she can devote to swimming and watching TV.B、Which TV shows she watches;C、How many TV shows she could watch if she did not go swimming;D、Which TV shows she could watch and how many lengths of the pools she could swim;36、A production possibilities curve defined over guns and butter shows;(B)A、How much land the country needs to produce guns and butter;B、The maximum amount of guns that can be produced for each amount of butter produced.C、The minimum amount of guns and butter required by the country given its population;D、The minimum amount of guns that can be produced for each remount of butter produced;37、A country’s production possibilities curve is downward-sloping because;(D)A、Resources are equally well equipped for the production of any good;B、The more a country’s inhabitants have of anything the lower is the value the paler on having more of it .C、Some resources are better equipped for the production of one good than another;D、If we want to produce more of one good. We must sacrifice some production of the other good;38、If a country’s production possibilities curve bows outward ,this indicates that;(D)A、to produces more of one good the country must sacrifice intrudingly large amounts of the other good;B、Scarcity is less of a problem the more of the country produces;C、The country faces fixed trade-offs;D、The country can produce more of all goods simultaneously;39、Figure 3 how’s a country’s production possibilities curve de fined over hamburgers and machines. At which point can the country be said to be producing insufficiently?(D)A、D、Point D40、and machines. Which of the following statement about point C is correct? (C)A、It represents a combination of hamburgers and machines production that is less desirable than point E.B、It reflects inefficient production.C、It reflects an unattainable combination of hamburgers and machines;D、It reflects idle resources;41、The opportunity cost of an activity is: (B)A、The amount of money spent on the activity;B、The next-best use of the resources devoted to the activity;C、Any cost that cannot be recovered;D、The value of the time spent on that activity.42、The saying “there’s no such thing as a free lunch” is based on the premise that: (C)A、Foot banks do not exist.B、Food banks should not exist;C、Everything has and opportunity cost;D、Governments always subsidize food production;43、Jean has just begun attending college, Which of the following should not beincluded in the opportunity cost of this activity ?(B)A、tuition feesB、the value of the meals she consumesC、the value of books she purchases for courses;D、the wages she could have earned and she not gone to college44、The slope of a vertical line is (D)A、zeroB、PositiveC、negativeD、Infinite45、Choices of individuals and films are limited by: (D)A、time constraintsB、production possibilitiesC、budget constraintsD、all of the above;46、Individuals or countries trade with each other because they（C）A、are concerned with increasing society’s welfare;B、Cannot consume all they produce;C、Expect to gain as result of the trade;D、Have to dispose of excess resources;47、One of the principal advantages of trade is that allows countries to;(A)A、specialize according to comparative advantage.B、Dispose of excess supplies of goods that they do not want;C、Share equally in the potential gains from trade;D、Leave the exchange feeling that they have been treated fairly.48、When the forces of supply and demand operate freely, the effects of a drought onthe corn harvest will be indicated in the market by （B）A、government-imposed limits on individuals’ purchases of corn;B、An increase in the price of corn.C、Advertisements in the newspapers advising people to reduce consumption;D、A reduction in the price of corn.49、The concept of demand refers to the quantity of a good that buyers（B）A、would like to buy at a given price;B、Need to maximize satisfaction.C、Are able to purchase in the marketplace.D、Would purchase if they had unlimited income.50、The curve that describes the quantities of a product that a buyer would like topurchase at different prices is called the:A、demand curveB、supply curveC、production possibilities curveD、budget constraint51、The demand curve is downward sloping which means that the quantity demanded for a good when its price (D)A、rises; risesB、falls; fallsC、is unchanged; fallsD、rises; falls52、An individual is typically willing to purchase more of a good at low prices than at high prices, which implies that the individual demand curve will be;(C)A、horizontalB、verticalC、downward slopingD、of indeterminate shape53、The market demand curve is （B）A、derived by vertically summing the individual demand curves at each quantity;B、derived by horizontally summing the individual demand curves at each price;C、derived by vertically summing the individual demand curves at each price;D、Independent of the individual demand curves;54、Figure 4 shows two individuals’ demand curves for the same product. If these are the only two individuals in the economy market demand at a price of S4 will be:（D）A、the demand curve to shift to the left;B、A movement along the demand curve such that quantity demanded declines;C、An individual to increase consumption of any goods she purchases;D、A movement along the demand curve such that quantity demanded increases;56、If and increase in the price of good A leads to a rightward shift in the demand for good B. we would conclude that A and B: (A)A、are substitutes;B、could be either substitutes or complementsC、are unrelated;D、are neither substitutes nor complements;57、Which of the following factors is most likely to lead to a shift in the demand curve for movie tickets? (C)A、A change in the price of attending a movie;B、A change in the size of movie theatersC、A change in the price of video rentals;D、Would buy at a given price;58、The concept of supply refers to the quantity of a good that firms:（C）A、Need to sell if they are to make positive profits;B、Are able to sell in the marketplace.C、Would like to sell at a given price.D、Would buy at a given price.59、By the term “supply curve”, economists mean the curve describing the relationship between price and the quantity supplied This focus on price means（D）A、economists believe price is the only factor that influences quantity supplied.B、Prices is the only factor that influences quantity supplied;C、economists are inappropriately overlooking other influences on quantity supplied;D、economists are assuming that other influences quantity supplied are constant so that the effect of price can be isolated,60、The supply curve is upward sloping which means that the quantity supplied of a good when its price (A)A、rises; risesB、falls; fallsC、is unchanged; fallsD、rises; falls61、firm is typically willing to offer more of a good for sale at high prices than at low pries which implies that the firm’s supply curve will be;(C)A、horizontalB、verticalC、upward slopingD、downward sloping62、An increase in the price of an input will normally cause; (D)A、a movement along the supply curve such that quantity supplied decanis;B、The supply curve to shift to the rightC、A firm to increase the amount it offers for saleD、The supply curve to shift to the left;63、A technological improvement will normally cause; (A)A、the supply curve to shift the rightB、A movement along the supply curve such that quantity supplied declines;C、The supply curve to shift to left;D、An individualist to inverse consumption of any goods she purchases.64、The quantity supplied is influenced by both changes in price and changes in variables other than price Changes in result in the supply curve. (B)A、variables other than price; movements alongB、variables other than price; shifts ofC、price; shifts ofD、input prices; movements along65、At the equilibrium price; (D)A、the quantity demanded exceeds the quantity supplied.B、Both consumers and films think the price is fair.C、the quantity supplied encodes the quantity demanded.D、the quantity demanded equals the quantity supplied.66、Excess demand will exist whenever;(A)A、the actual price is below the equilibrium price;B、The price is such that the quantity demanded equals the quantity suppliedC、Scarcity has been eliminated.D、The actual price is above the equilibrium price.67、If the market price for a good is such that consumer wish to buy more of the good than films are offering for sale. The excess will tend to cause to .(A)A、demand; fallB、supply; riseC、price; fallD、demand; rise68、If the price of a substitute for candy bars were to rise, the demand curve for candy bars would shift to the ,the equilibrium quantity would ,and the equilibrium price would . (B)A、left; fall; riseB、right; rise; riseC、left; rise; fallD、right; fall；rise69、If the price elasticity of demand for a product is ＄2. a price increase from S1to ＄1.02 will cause quantity demanded to （C）A、rise by 4 percentB、rise by 2 percentC、fall by 4 percentD、fall by 2 percent70、If the demand for a product is prick- inelastic, a 5 percent increase in the price of the product will (C)A、increase the quantity demanded by more than 5 percentB、increase the quantity demanded by less than 5 percent;C、decrease the quantity demanded by less than 5 percent.D、decrease the quantity demanded by more than 5 percent;71、The demand for a product is said to be price-clastic if the ; (A)A、percentage change in quantity demanded exceeds the percentage change in price.B、change in demand exceeds the change in price;C、percentage change in price exceeds the percentage change in quantity demanded.D、change in price exceeds the change in demand.72、If the price of a product changes by 5 percent, and as a result quantity demanded changes by 5 percent; (C)A、demand is price-elastic;B、This can only be the result of a rightward shift of the demand curve.C、The price elasticity of demand is unity.D、This can only be the result of a leftward shift of the demand curve.73、If the price of a product changes by 5 percent, and as a result quantity demanded changes by 5 percent(B)A、is perfectly price-elastic;B、is price- elasticC、Has a price elasticity of unity.D、is perfectly price inelastic74、If a firm raise the price of its product and finds that total revenue has fallen. This indicates that:(D)A、demand for the product is price inelasticB、demand for the product has unit price elasticity;C、the price elasticity is greater than 1D、demand for the product is price elastic75、If the price of a product changes by 5 percent, and as a result quantity demanded changes by10 percent; (D)A、demand for the product is price- inelastic,B、revenue will rise if the price change was an increase.C、revenue will fall if the price change was a reductionD、revenue will rise if the price change was a reduction76、If demand for a product is perfectly price inelastic, the demand curve is (C)A、horizontalB、upward slopingC、verticalD、undefined77、If the price elasticity of supply for a product is ＄0.5 a price increase from ＄1 to 1.04 will cause quantity supplied to ; (D)A、rise by 4 percentB、fall by 2percentC、fall by 4 percentD、rise by 2 percent78、If the quantity demanded of a product increases at every price (shift the demand curve rightward), and the supply curve of the product is upward sloping ,equilibrium quantity will and equilibrium price will . (D)A、decrease; increaseB、increase; decreaseC、decrease; decreaseD、increase; increase79、If the demand curve for a product is relatively elastic, and there is a rise in the price of an input used in the manufacture of the product, equilibrium quantity will equilibrium price will ,but equilibrium will change proportionately more. (D)A、decrease; increase; priceB、i ncrease; decrease; priceC、i ncrease; decrease; quantity;D、decrease; increase; quantity;80、A tax has been levied on a product. The more price- inelastic the demand for the product is (A)A、the greater is the proportion of the tax borne by consumers;B、The more likely it is that the tax is borne equally by consumers and sellers;C、The lower is the revenue that is raises by the tax.D、The less likely it is that the tax will be reflected in a change in price rather that a change in quantity;。

价格理论与实践投稿流程英文回答：Price theory is a fundamental concept in economics that analyzes how prices are determined in a market economy. It explores the relationship between supply and demand and examines how changes in these factors impact prices. Price theory is based on the principle that prices are determined by the interaction of buyers and sellers in a competitive market.In practice, the process of setting prices involves various factors such as production costs, competition, consumer preferences, and market conditions. Companies need to consider these factors when determining the price of a product or service. They need to ensure that the price is competitive enough to attract customers while also covering their costs and generating profits.The first step in the pricing process is to analyze thecosts involved in producing the product or service. This includes direct costs such as raw materials, labor, and overhead costs. Indirect costs such as marketing expenses and administrative costs also need to be considered. By understanding the costs, companies can determine the minimum price they need to charge to cover their expenses.Next, companies need to consider the demand for their product or service. They need to analyze consumer preferences, market trends, and the competitive landscape. By understanding the demand, companies can determine the optimal price that maximizes their sales and profitability. For example, if the demand for a product is high and thereis limited competition, companies can charge a higher price. On the other hand, if the demand is low or there is intense competition, companies may need to lower their prices to attract customers.Another important factor to consider is the elasticityof demand. Elasticity measures how responsive the quantity demanded is to changes in price. If demand is elastic, a small change in price will result in a large change inquantity demanded. In this case, companies need to be cautious when setting prices as a small increase may leadto a significant decrease in sales. On the other hand, if demand is inelastic, a change in price will have arelatively small impact on quantity demanded. Companies can potentially increase prices without affecting sales significantly.Once all these factors are considered, companies canset the final price for their product or service. It is important to regularly review and adjust prices based on market conditions and changes in costs. Companies may also use pricing strategies such as discounts, promotions, and bundling to attract customers and increase sales.In conclusion, price theory provides a framework for understanding how prices are determined in a market economy. In practice, companies need to consider various factorssuch as costs, demand, competition, and market conditions when setting prices. Regular review and adjustment ofprices are necessary to ensure competitiveness and profitability.中文回答：价格理论是经济学中的一个基本概念，它分析了市场经济中价格是如何确定的。

31.(单选题) Suppose the demand f1、单选题：Microeconomics studies the allocation of选项：A: decision makers.B: scarce resources.C: models.D: unlimited resources.答案: 【scarce resources.】2、单选题：Most microeconomic models assume that decision makers wish to选项：A: make themselves as well off as possible.B: act selfishly.C: make others as well off as possible.D: None of the above.答案: 【make themselves as well off as possible.】3、单选题：What links the decisions of consumers and firms in a market?选项：A: the government.B: prices.C: coordination officials.D: microeconomics.答案: 【prices.】4、单选题：Economic models are most often tested选项：A: using computer simulations.B: using data from the distant past.C: using data from the real world.D: using logic alone.答案: 【using data from the real world.】5、单选题：Which of the statements below is/are normative?选项：A: Economists need to include more reality in their models. B: Economists will use a model until it is refuted by someone.C: Microeconomists study economic growth.D: B and C答案: 【Microeconomists study economic growth.】6、单选题：According to the Law of Demand, the demand curve for a good will选项：A: shift leftward when the price of the good increases. B: shift rightward when the price of the good increases. C: slope downward.D: slope upward.答案: 【slope downward.】7、单选题：If the price of automobiles were to increase substantially, the demand curve for gasoline would most likely选项：A: shift leftward.B: shift rightward.C: remain unchanged.D: become steeper.答案: 【shift leftward.】8、单选题：The expression "increase in quantity supplied" is illustrated graphically as a选项：A: leftward shift in the supply curve.B: rightward shift in the supply curve.C: movement up along the supply curve.D: movement down along the supply curve.答案: 【movement up along the supply curve.】9、单选题：A market equilibrium occurs选项：A: only with government regulation.B: only because of the profit motive of firms.C: only because of the complacency of consumers.D: through the interaction of self-interested consumers and producers.答案: 【through the interaction of self-interested consumers and producers.】10、单选题：If oranges were found to cure cancer,选项：A: the equilibrium price of apples would likely fall.B: the equilibrium price of oranges would likely increase in the near term.C: the equilibrium quantity of oranges would likely increase.D: All of the above.答案: 【All of the above.】11、单选题：The change in price that results from a leftward shift of the supply curve will be greater if选项：A: the demand curve is relatively steep than if the demand curve is relatively flat.B: the demand curve is relatively flat than if the demand curve is relatively steep.C: the demand curve is horizontal than if the demand curve is vertical.D: the demand curve is horizontal than if the demand curve is downward sloping.答案: 【the demand curve is relatively steep than if the demand curve is relatively flat.】12、单选题：A vertical demand curve for a particular good implies that consumers are选项：A: sensitive to changes in the price of that good.B: not sensitive to changes in the price of that good.C: irrational.D: not interested in that good.答案: 【not sensitive to changes in the price of that good.】13、单选题：Suppose the demand function for a good is expressed as Q = 100 - 4p. If the good currently sells for $10, then the price elasticity of demand equals选项：A: -1.5.B: -0.67.C: -4D: -2.5.答案: 【-0.67.】14、单选题：The price elasticity of supply when the supply curve is Q = 5 is选项：A: 5B: perfectly inelastic.C: perfectly elastic.D: Cannot be calculated from the information provided.答案: 【perfectly inelastic.】15、单选题：In the late 1980s, the health benefits of oat bran were widely advertised. If the price of oats increased 50%, causing the quantity of oats supplied to increase by 40%, then the price elasticity of supply was选项：A: 1.25.B: -1.25.C: -0.80.D: 0.80.答案: 【0.80.】。

Chapter 11The Efficient Market Hypothesis ?Multiple Choice Questions?1.?If you believe in the ________ form of the EMH, you believe that stock prices reflect all relevant information including historical stock prices and current public information about the firm, but not information that is available only to insiders.?A.?Semistrong2.?When Maurice Kendall examined the patterns of stock returns in 1953 he concluded that the stock market was __________. Now, these random price movements are believed to be _________.?A.?inefficient; the effect of a well-functioning market3.?The stock market follows a __________.?B.?Submartingale4.?A hybrid strategy is one where the investor?D.?maintains a passive core and augments the position with an actively managed portfolio.5.?The difference between a random walk and a submartingale is the expected price change in a random walk is ______ and the expected price change for a submartingale is ______.?D.?zero; positive6.6.?The difference between a random walk and a submartingale is the expected price change in a random walk is ______ and the expected price change for a submartingale is______.?D.?zero; positive?7.?Proponents of the EMH typically advocate?B.?investing in an index fund.C.?a passive investment strategy.E.?B and C8.?Proponents of the EMH typically advocate?C.?a passive investment strategy.9.?If you believe in the _______ form of the EMH, you believe that stock prices reflect all information that can be derived by examining market trading data such as the history of past stock prices, trading volume or short interest.?C.?Weak10.?If you believe in the _________ form of the EMH, you believe that stock prices reflect all available information, including information that is available only to insiders.?B.?strong?11.?If you believe in the reversal effect, you should?C.?buy stocks this period that performed poorly last period.12.?__________ focus more on past price movements of a firm's stock than on the underlying determinants of future profitability.?D.?Technical analysts13.?_________ above which it is difficult for the market to rise.?B.?Resistance level is a value14.?_________ below which it is difficult for the market to fall.?C.?Support level is a value?15.?___________ the return on a stock beyond what would be predicted from market movements alone.?A.?An excess economic return isC.?An abnormal return isE.?A and C16.?The debate over whether markets are efficient will probably never be resolved because of ________.?A.?the lucky event issue.B.?the magnitude issue.C.?the selection bias issue.D.?all of the above.17.?A common strategy for passive management is ____________.?A.?creating an index fund?18.?Arbel (1985) found that?A.?the January effect was highest for neglected firms.19.?Researchers have found that most of the small firm effect occurs?D.?in January.20.?Basu (1977, 1983) found that firms with low P/E ratios?A.?earned higher average returns than firms with high P/E ratios.21.?Jaffe (1974) found that stock prices _________ after insiders intensively bought shares.?C.?increased22.?Banz (1981) found that, on average, the risk-adjusted returns of small firms?A.?were higher than the risk-adjusted returns of large firms.23.?Proponents of the EMH think technical analysts?E.?are wasting their time.24.?Studies of positive earnings surprises have shown that there is?A.?a positive abnormal return on the day positive earnings surprises are announced.B.?a positive drift in the stock price on the days following the earnings surprise announcement.D.?both A and B are true.?25.?Studies of negative earnings surprises have shown that there is?A.?a negative abnormal return on the day negative earnings surprises are announced.B.?a positive drift in the stock price on the days following the earnings surprise announcement.D.?both A and B are true.26.?Studies of stock price reactions to news are called?B.?event studies.27.?On November 22, 2005 the stock price of Walmart was $39.50 and the retailer stock index was 600.30. On November 25, 2005 the stock price of Walmart was $40.25 and the retailer stock index was 605.20. Consider the ratio of Walmart to the retailer index on November 22 and November 25. Walmart is _______ the retail industry and technical analysts who follow relative strength would advise _______ the stock.?A.?outperforming, buying28.?Work by Amihud and Mendelson (1986,1991)?A.?argues that investors will demand a rate of return premium to invest in less liquid stocks.B.?may help explain the small firm effect.C.?may be related to the neglected firm effect.E.?A, B, and C.29.?Fama and French (1992) found that the stocks of firms within the highest decile of market/book ratios had average monthly returns of _______ while the stocks of firms within the lowest decile of market/book ratios had average monthly returns of ________.?C.?less than 1%, greater than 1%30.?A market decline of 23% on a day when there is no significant macroeconomic event______ consistent with the EMH because ________.?D.?would not be, it was not a clear response to macroeconomic news.31.?In an efficient market, __________.?A.?security prices react quickly to new informationB.?security prices are seldom far above or below their justified levelsC.?security analysts will not enable investors to realize superior returns consistentlyE.?A, B, and C32.?The weak form of the efficient market hypothesis asserts that?B.?future changes in stock prices cannot be predicted from past prices.C.?technicians cannot expect to outperform the market.E.?B and C33.?A support level is the price range at which a technical analyst would expect the?C.?demand for a stock to increase substantially.34.?A finding that _________ would provide evidence against the semistrong form of the efficient market theory.?A.?low P/E stocks tend to have positive abnormal returnsC.?one can consistently outperform the market by adopting the contrarian approach exemplified by the reversals phenomenonE.?A and C35.?The weak form of the efficient market hypothesis contradicts?D.?technical analysis, but is silent on the possibility of successful fundamental analysis.36.?Two basic assumptions of technical analysis are that security prices adjust?C.?gradually to new information and market prices are determined by the interaction of supply and demand.?37.?Cumulative abnormal returns (CAR)?A.?are used in event studies.B.?are better measures of security returns due to firm-specific events than are abnormal returns (AR).D.?A and B.38.?Studies of mutual fund performance?A.?indicate that one should not randomly select a mutual fund.B.?indicate that historical performance is not necessarily indicative of future performance.D.?A and B.?39.?The likelihood of an investment newsletter's successfully predicting the direction of the market for three consecutive years by chance should be?C.?between 10% and 25%.40.?In an efficient market the correlation coefficient between stock returns for twonon-overlapping time periods should be?C.?zero.41.?The weather report says that a devastating and unexpected freeze is expected to hit Florida tonight, during the peak of the citrus harvest. In an efficient market one would expect the price of Florida Orange's stock to?A.?drop immediately.42.?Matthews Corporation has a beta of 1.2. The annualized market return yesterday was 13%, and the risk-free rate is currently 5%. You observe that Matthews had an annualized return yesterday of 17%. Assuming that markets are efficient, this suggests that?B.?good news about Matthews was announced yesterday.43.?Nicholas Manufacturing just announced yesterday that its 4th quarter earnings will be 10% higher than last year's 4th quarter. You observe that Nicholas had an abnormal return of -1.2% yesterday. This suggests that?C.?investors expected the earnings increase to be larger than what was actually announced.44.?When Maurice Kendall first examined stock price patterns in 1953, he found that?B.?there were no predictable patterns in stock prices.45.?If stock prices follow a random walk?D.?price changes are random.46.?The main difference between the three forms of market efficiency is that?D.?the definition of information differs.47.?Chartists practice?A.?technical analysis.48.?Which of the following are used by fundamental analysts to determine proper stock prices?I) trendlinesII) earningsIII) dividend prospectsIV) expectations of future interest ratesV) resistance levels?C.?II, III, and IV?49.?According to proponents of the efficient market hypothesis, the best strategy for a small investor with a portfolio worth $40,000 is probably to?E.?invest in mutual funds.50.?Which of the following are investment superstars who have consistently shown superior performance?I) Warren BuffetII) Phoebe BuffetIII) Peter LynchIV) Merrill LynchV) Jimmy Buffet?C.?I and III51.?Google has a beta of 1.0. The annualized market return yesterday was 11%, and therisk-free rate is currently 5%. You observe that Google had an annualized return yesterday of 14%. Assuming that markets are efficient, this suggests that?B.?good news about Google was announced yesterday.52.?Music Doctors has a beta of 2.25. The annualized market return yesterday was 12%, and the risk-free rate is currently 4%. You observe that Music Doctors had an annualized return yesterday of 15%. Assuming that markets are efficient, this suggests that?A.?bad news about Music Doctors was announced yesterday.53.?QQAG has a beta of 1.7. The annualized market return yesterday was 13%, and therisk-free rate is currently 3%. You observe that QQAG had an annualized return yesterday of 20%. Assuming that markets are efficient, this suggests that?C.?no significant news about QQAG was announced yesterday.54.?QQAG just announced yesterday that its 4th quarter earnings will be 35% higher than last year's 4th quarter. You observe that QQAG had an abnormal return of -1.7% yesterday. This suggests that?C.?investors expected the earnings increase to be larger than what was actually announced.55.?LJP Corporation just announced yesterday that it would undertake an international joint venture. You observe that LJP had an abnormal return of 3% yesterday. This suggests that?D.?investors view the international joint venture as good news.?56.?Music Doctors just announced yesterday that its 1st quarter sales were 35% higher than last year's 1st quarter. You observe that Music Doctors had an abnormal return of -2% yesterday. This suggests that?C.?investors expected the sales increase to be larger than what was actually announced.57.?The Food and Drug Administration (FDA) just announced yesterday that they would approve a new cancer-fighting drug from King. You observe that King had an abnormal return of 0% yesterday. This suggests that?D.?the approval was already anticipated by the market58.?Your professor finds a stock-trading rule that generates excess risk-adjusted returns. Instead of publishing the results, she keeps the trading rule to herself. This is most closely associated with ________.?B.?selection bias59.?At freshman orientation, 1,500 students are asked to flip a coin 20 times. One student is crowned the winner (tossed 20 heads). This is most closely associated with ________.? D.?the lucky event issue?60.?Sehun (1986) finds that the practice of monitoring insider trade disclosures, and trading on that information, would be ________.?E.?not sufficiently profitable to cover trading costs61.?If you believe in the reversal effect, you should?C.?sell stocks this period that performed well last period.62.?Patell and Woflson (1984) report that most of the stock price response to corporate dividend or earnings announcements occurs within ____________ of the announcement.?C.?2 hours?Short Answer Questions?63.?Discuss the various forms of market efficiency. Include in your discussion the information sets involved in each form and the relationships across information sets and across forms of market efficiency. Also discuss the implications for the various forms of market efficiency for the various types of securities' analysts.?The weak form of the efficient markets hypothesis (EMH) states that stock prices immediately reflect market data. Market data refers to stock prices and trading volume. Technicians attempt to predict future stock prices based on historic stock price movements. Thus, if the weak form of the EMH holds, the work of the technician is of no value.The semistrong form of the EMH states that stock prices include all public information. This public information includes market data and all other publicly available information, such as financial statements, and all information reported in the press relevant to the firm. Thus, market information is a subset of all public information. As a result, if the semistrong form of the EMH holds, the weak form must hold also. If the semistrong form holds, then the fundamentalist, who attempts to identify undervalued securities by analyzing public information, is unlikely to do so consistently over time. In fact, the work of the fundamentalist may make the markets even more efficient!The strong form of the EMH states that all information (public and private) is immediately reflected in stock prices. Public information is a subset of all information, thus if the strong form of the EMH holds, the semistrong form must hold also. The strong form of EMH states that even with inside (legal or illegal) information, one cannot expect to outperform the market consistently over time.Studies have shown the weak form to hold, when transactions costs are considered. Studies have shown the semistrong form to hold in general, although some anomalies have been observed. Studies have shown that some insiders (specialists, major shareholders, major corporate officers) do outperform the market.Feedback: The purpose of this question is to assure that the student understands the interrelationships across different forms of the EMH, across the information sets, and the implications of each form for different types of analysts.64.?What is an event study? It is a test of what form of market efficiency? Discuss the process of conducting an event study, including the best variable(s) to observe as tests of market efficiency.?A event study is an empirical test which allows the researcher to assess the impact of a particular event on a firm's stock price. To do so, one often uses the index model and estimates e t, the residual term which measures the firm-specific component of the stock's return. This variable is the difference between the return the stock would ordinarily earn for a given level of market performance and the actual rate of return on the stock. This measure is often referred to as the abnormal return of the stock. However, it is very difficult to identify the exact point in time that an event becomes public information; thus, the better measure is the cumulative abnormal return, which is the sum of abnormal returns over a period of time (a window around the event date).This technique may be used to study the effect of any public event on a firm's stock price; thus, this technique is a test of the semistrong form of the EMH.Feedback: The rationale for this question is to ascertain if the student understands the methodology most commonly used as a test of the semistrong form of market efficiency.?65.?Discuss the small firm effect, the neglected firm effect, and the January effect, the tax effect and how the four effects may be related.?Studies have shown that small firms earn a risk-adjusted rate of return greater than that of larger firms. Additional studies have shown that firms that are not followed by analysts (neglected firms) also have a risk-adjusted return greater than that of larger firms. However, the neglected firms tend to be small firms; thus, the neglected firm effect may be a manifestation of the small firm effect. Finally, studies have shown that returns in January tend to be higher than in other months of the year. This effect has been shown to persist consistently over the years. However, the January effect may be the tax effect, as investors may have sold stocks with losses in December for tax purposes and reinvested in January. Small firms (and neglected firms) would tend to be more affected by this increased buying than larger firms, as small firms tend to sell for lower prices.Feedback: The purpose of this question is to reinforce the interrelationships, that "effects" may not always be independent and thus readily identifiable. Also these effects are widely discussed in the financial press, and the January effect appears to be quite persistent. 66.?Why might the degree of market efficiency differ across various markets? State three reasons why this might occur and explain each reason briefly.?1. Market efficiency depends on information being essentially free and costless to market participants. In the U.S. markets this is the case to a large extent. The U.S. markets are well developed and professional analysts often follow securities. Information is available on television, in the press, and on the Internet. The opposite may be true in other markets, such as those of developing countries, where there are fewer or no analysts and few market participants with these resources.2. Accounting disclosure requirements are different across markets. In the U.S. firms must meet SEC requirements to be publicly traded. In other countries the requirements may be different or nonexistent. This has implications about the ease with which analysts can evaluate the company to determine its proper value.3. Markets for "neglected" stocks may be less efficient than markets for stocks that are heavily followed by analysts. If analysts feel that it is not worthwhile to give their attention to particular stocks then ample information about these stocks will not be readily available to investors.Feedback: This question leads the student to look at some of the fundamental reasons for market efficiency and why there may be differences among markets with regard to the reasons. Alternative answers are possible.67.?With regard to market efficiency, what is meant by the term "anomaly"? Give three examples of market anomalies and explain why each is considered to be an anomaly.?Anomalies are patterns that should not exist if the market is truly efficient. Investors might be able to make abnormal profits by exploiting the anomalies, which doesn't make sense in an efficient market.Possible examples include, but are not limited to, the following.??the small-firm effect - average annual returns are consistently higher for small-firm portfolios, even when adjusted for risk by using the CAPM.2.the January effect - the small-firm effect occurs virtually entirely in January.3.the neglected-firm effect - small firms tend to be ignored by large institutional traders and stock analysts. This lack of monitoring makes them riskier and they earn higher risk-adjusted returns. The January effect is largest for neglected firms.??the liquidity effect - investors demand a return premium to invest in less-liquid stocks. This is related to the small-firm effect and the neglected-firm effect. These stocks tend to earn high risk-adjusted rates of return.5.book-to-market ratios - firms with the higher book-to-market-value ratios have higherrisk-adjusted returns, suggesting that they are underpriced. When combined with thefirm-size factor, this ratio explained returns better than systematic risk as measured by beta. the reversal effect - stocks that have performed best in the recent past seem to underperform the rest of the market in the following periods, and vice versa. Other studies indicated that this effect might be an illusion. These studies used portfolios formed mid-year rather than in December and considered the liquidity effect.Investors should not be able to earn excess returns by taking advantage of any of these. The market should adjust prices to their proper levels. But these things have been documented to occur repeatedly.Feedback: This question tests whether the student grasps the basic concept of anomalies and allows some choice in explaining some of them.。

我最喜欢的,经济学基础老四英文作文My Favorite Economics Basics: Supply and DemandEconomics basics are the foundation of understanding how the economy works and influences our daily lives. Among the many principles of economics, one of my favorite topics is the concept of supply and demand. It is a simple yet powerful idea that governs the market and determines prices of goods and services.Supply refers to the amount of a product that producers are willing to sell at a given price, while demand represents the quantity of a product that consumers are willing to buy at a given price. The interaction between supply and demand shapes the equilibrium price, where the quantity supplied equals the quantity demanded. This equilibrium price is where the market is in balance, and it reflects the true value of the product.One of the reasons I find the supply and demand concept fascinating is its real-world applications. For instance, when there is high demand for a product but limited supply, the price tends to go up. On the other hand, if the supply exceeds demand, prices will fall. This simple rule explains why certain products become expensive during shortages, such as during a naturaldisaster or a pandemic, and why prices drop during sales events or when a new competitor enters the market.Another reason I enjoy studying supply and demand is its role in decision-making. As a consumer, understanding the relationship between supply and demand can help me make informed choices about my purchases. For example, if a product is in high demand, I may choose to buy it now before the price goes up. Conversely, if a product is abundant, I might wait for a sale or look for alternatives that offer better value.From a producer's perspective, knowing how supply and demand affect prices can help in setting pricing strategies and production levels. By anticipating changes in consumer behavior, businesses can adjust their supply to meet demand and maximize profits. This knowledge is crucial for businesses to stay competitive and thrive in the market.In conclusion, the concept of supply and demand is a fundamental principle of economics that influences all aspects of our economy. Its simplicity and practicality make it a favorite topic among economists and students alike. By mastering the dynamics of supply and demand, we can gain valuable insights into market trends, make informed decisions, and understand the forces that shape our economy. So next time you see a pricetag or a sale sign, remember that behind it lies the powerful interplay of supply and demand.。

新视野⼤学英语4第三版读写教程第⼆单元答案（B4U2）1. How do you understand the sentence "No amount of rehearsal will help you come up with the right answer" (Para. 2)?Reference:The sentence means that it is very difficult, or even impossible, for a man to give a right answer when a woman asks him how she looks, no matter how hard he thinks about it and how many different answers he tries.2. According to the text, in what way do men and women evaluate their appearance differently?Reference:Men are satisfied with being average-looking, paying little attention to their looks. In contrast, women pay great attention to their body and image, considering their appearance as not good enough even if they are in fact attractive.3. What causes women to be always dissatisfied with their looks?Reference:The interaction of many psychological and societal factors, for example, their childhood experiences with toys, and the influence of the media.4. In what way do the toys girls play with differ from those boys play with?Reference:Girls' toys are proportioned to have extreme measures of the body (e.g. in terms of height, weight and waist size), whereas boys' toys can look weird rather than handsome.5. What does the sentence "You could not imagine him saying to the others, ‘Is this accessory the right shade of violet for this outfit?'" (Para. 6) imply?Reference:It implies that men pay little attention to the details of their appearance.6. Why is the supermodel Cindy Crawford mentioned in Paragraph 7?Reference:Cindy Crawford is mentioned as an example to show that the beauty industry and the media have great influence on women's devotion to physical beauty and the use of beauty products.7. What is the author's attitude toward the claim that women care much about their appearance due to pressure from men?Reference:The author thinks that the claim is not right since men in fact pay little attention to the details of women's appearance.8. Why do women think that men are not qualified to judge whether a woman looks good or not?Reference:Women think so because men do not even care about their own appearance. For instance, a man often does not bother to clean the cream in his hair or ears after shaving.1. What are the factors that make women pay much greater attention to their appearance than do men?Reference:I think there are three main factors accounting for women's greater attention to appearance. The first are cultural traditions. It is common in many cultures that people put high value on beauty when they look at women. The second is the requirement of certain jobs. For example, in China airline companies set certain criteria for appearance (e.g. in terms of height and weight) when they recruit stewards and stewardesses. Finally, the influence of the media is another strong factor which shapes women's pursuit of physical beauty. There are a lot of advertisements of cosmetics and skincare products in various media such as TV, magazines and newspapers. They often havecelebrities as the spokesperson for the advertised products, which makes women have an illusion that they could look as good as those famous stars if they use the products. In short, these three factors exert immense influence on how women value appearance.2. Are there any occasions in life where it is necessary for a person, either a woman or a man, to look good? Why or why not?Reference:Yes. On certain formal occasions, a person, either female or male, has to pay attention to his attire. Sample cases are job interviews, business meetings, weddings, and banquets. This is because to dress properly is an important element of successful completion of these events.No. People do not have to care what others think of them as long as t hey feel comfortable and satisfied with their looks themselves. After all, this is the most important source of happiness to people.3. What do you consider as the most important traits that make a person beautiful?Reference:In my opinion, the important traits of human beauty include two types, one for appearance and one for inner qualities. Features that characterize a beautiful appearance are a good-looking body, proper clothes and accessories, as well as use of makeup that matches the occasion or event one is attending. Inner qualities that make a person beautiful mainly include good manners and positive personality traits such as honesty, bravery or friendliness.4. What do you think of the relationship between wearing makeup and female beauty? In other words, do women have to apply cosmetics in order to look beautiful? Why or why not?Reference:Yes. Women should pay great attention to their appearance and hence need to wear makeup. This is because beauty is, believe it or not, usually an important quality for women to succeed, for example, when they want to look for a job or an ideal husband.No. What really makes a person beautiful is inner beauty rather than physical appearance. A beautiful look can't last long, but inner beauty, for example, intelligence and honesty, may make a person successful and happy throughout his life.5. If you were the head of a cosmetics company, how would you market or promote a new product?I would market a new product by three means. First, I can ask a celebrity, for example a famous movie star or a supermodel, to be the brand spokesperson on TV. This is a common practice in the advertising industry, and I think it is very effective. Second, I will hire people to distribute flyers and give away free samples of the product on the streets, so the product can reach potential customers directly. In addition, I may post advertisements on public transportation vehicles such as buses and subways. In this way, the commercials can be seen by a large number of people.Fill in the blanks with the words given below. Change the form where necessary. Each word can be used only once. Done with this activity. Time submitted: 2017-03-07 21:43 (Tuesday)Your score: 0%1.We need to improve the quality of education so that our children willnot leave school (deficient)in literary and reasoning skills.2.In a society governed by the rule of law, every citizen is subjectto possible (prosecution)if he violates the law.3.The pay gap between average workers and top corporate officers hasled to pubic (outrage)as executives receive large packages despite falling share prices.4.The delicious meal (appeased)our hunger and made us feel warmagain after having walked in the snow all day.5.The military insists on (conformity)in many areas, forexample, dress and haircut, with the primary objective of promoting group unity.6.My daughter used to play with the dog by taking a(n)(strand)of its hair and then spending a long time rubbing, combing and twisting it.7.When she left for the party, she took great care to make her necklaceand shoes (complement)her dress.8.It was necessary to provide living places for(transient)immigrants passing through the area on their way to more permanent dwellings.9.They had just moved in, so they needed to buy a number of kitchen(appliances), including a microwave oven, a toaster, and a coffee maker.10.She wanted a beautiful and elegant (outfit)to attend thewedding of a friend, but couldn't find anything satisfactory in the nearby shops.Add -ion, -er, or -ist to or remove them from the following words to form new words. For each blank you can only fill in one word.Correct answerdominationorientationconfrontationcomposerbindermanufacturereraseimperialistleftistterroristhumanistFill in the blanks with the newly formed words. Change the form where necessary. Each word can be used only once.1. The Internet challenges the (domination) of traditional media such asnewspapers and television as the main sources of news in modern society.2. Some scientists warn that the X-ray (scanners) now being used toscreen passengers at many airports may be harmful to the human body.3. Many people think that a(n) (humanist) should have very strongmorals, in addition to beliefs in a philosophy that focuses on human values and concerns.4. The police interviewed all six witnesses, but none of them could describeclearly how the (confrontation) began and who opened fire first.5. In politics, (leftists) are people who generally support social changesto create a more equal society and show concern for those who sufferdisadvantages.6. A study of mid-level administrators' career (orientation) showed thatmany of these managers view their current position as a temporary step on an upward path.7. The idea that the United States is a melting pot implies that racialdifferences are to be (erased)and that immigrants should give up their own cultural traditions.8. Effective measures should be taken to prevent (terrorists) fromattacking civilians, people who have no power to defend themselves from bombs and guns.9. Toyota is one of the world's largest (manufacturers) of cars, withmore than 50 plants across the globe outside Japan.10. He sent his parents some of his recent news articles in a(n) (binder) ,arranged according to their publication dates.11. This island became a colony after European (imperialists) decided touse it as their trading port in the 19th century.12. The concert to be held next month promotes music by(composers) from Africa and South America.Drag 10 words from the list to their proper places to complete the passage. Each word can be used only once. Double click on a particular blank to reset it if necessary.I was once in a relationship with a woman who was the most brilliant, creative and driven person I'd ever known. I told herthese things often because she didn't see herself this way, despite (1)(achieving) great success and acclaim (称赞) in her professional field. She was also (2)(gorgeous) and sexy, though she seemed not to realize this either, so I told her these things too. But while I thought it was more important to praise her brilliance, it seemed to mean more to her that she was (3) (considered) attractive.My experience with this girlfriend exemplifies a common phenomenon in life —when it comes to complimenting a woman, men often walk a very difficult line. Of course, (4)(context)matters. In a professional setting, talking about appearance is often inappropriate, but at a singles club, it may be important. She will be very pleased if a man thinks her clothes and (5)(accessories) are pretty, or her hair looks wonderful. However, things inbetween these two cases are unclear. Women have every right to be recognized and (6)(appreciated) for their intelligence and creativity. But at the same time, they want to be admired for their looks as well, for example, their perfect skin (7) (complexion) and elegant outfits.Unfortunately, most guys don't understand this. If we receive compliments from women, they're usually about our achievements, not our looks. Most of us don't expect a woman to tell us how (8)(handsome) or sexy we are, and some of us would find it hard to regard such a(n) (9)(comment) as sincere. I'm not saying it's very hard to be a guy these days. It is important for every man to understand how to treat women with both respect and (10) (admiration). But as far as the right balance of these two is concerned, we really have no frame of reference, especially when it comes to looks.Fill in the blanks with the expressions given below. Change the form where necessary. Each expression can be used only once.1. Every month, the Community Services Center offers several lectures onhealth and fitness (in hopes of) introducing people to healthierlifestyles.2. Do you know who (came up with) the idea of having cheesecake fordessert yesterday? It was delicious and made everyone happy.3. The pain medication left Claudia feeling rather dull and sleepy, and soonafter dinner she apologized for being such poor company and(excused herself) to bed.4. When I was young, I (was obsessed with) maps, and I sometimesspent the whole day charting land routes from one point to another.5. To make immigrants comfortable (reaching out to) police for help,more than 70 cities now bar police from asking them to prove their legal status.6. Mary was often accused of "having a strong personality" because she wasnot afraid to (voice an opinion on) subjects about which she wasknowledgeable.7. At the end of his term in office, the governor was criticized for failure to(live up to) his campaign promise.8. Results of a survey revealed that of the top 10 automobile makers (interms of) customer satisfaction, six were Japanese and two wereGerman.Write a contrast essay of no less than 200 words on the topic "How do women and men groom themselves?". You can follow the outline given below.Done with this activity. Time submitted: 2017-03-07 21:53 (Tuesday) Outline:Topic :How do women and men groom themselves?Introduction :Women and men take care of their appearance in very different ways, which are mainly shown in three areas.Body :The variety of beauty tools and products they useThe amount of clothes they haveThe amount of time they spend on grooming themselvesConclusion :Women and men behave differently in how they attend to their routinegrooming chores.My writing:When you get yourself ready to go to school or work in the morning, or attend a party in the evening, you may have to do various preparations. What youconsider as essential to prepare largely depends on whether you are a female or a male. Women and men take care of their appearance in different ways, which are mainly shown in three areas.One difference lies in the variety of beauty products that women and men use. Women have a great variety of tools and skincare products; for example, combs and clips for hair, brushes for powder foundation, and eyeliners for eyebrows, creams for face, to name just a few. Men, however, do not use so many things. They may comb their hair, but they seldom use cosmetics. Another difference involves the amount of clothes women and men have. Females usually have many more clothes than men do. You may well be familiar with movie scenes in which a woman tries on the outfits in her wardrobe one after another and still hesitates about which one to wear. Unlike females, males do not buy themselves piles of clothes as long as they still have something at home.The third difference is that women spend much more time grooming themselves than men do. It can easily take a woman half an hour or even several hours to get a perfect hair style or apply makeup to her face. In contrast, it may just take a man several minutes to tidy himself. All he needs to do is to comb his hair and put on whatever clothes he finds in the drawer.To conclude, women and men behave differently in how they attend to their routine grooming chores. Such distinctions help create the typical images of females and males in human society.Translate the following paragraph into Chinese.Done with this activity. Time submitted: 2017-03-07 21:53 (Tuesday) The originalWilliam Shakespeare is widely regarded as the greatest writer in the English language and the world's pre-eminent (杰出的) dramatist. His plays have been translated into a vast number of languages and are performed more often than those of any other playwright. Shakespeare's early works were mostly comedies and histories, which have the reputation of being among the finestmasterpieces produced in these genres (体裁) even today. Later on, Shakespeare wrote mainly tragedies, some of which, like Hamlet and King Lear, earned him fame in the entire Western literature. The most striking features of Shakespeare are his brilliant use of language and his universal themes. He contributed thousands of words to English, many of which have become embedded in the language. His themes are so universal that they transcend generations to stir the imaginations of readers and audiences worldwide. Shakespeare has influenced and inspired many writers over the centuries. His writings remain highly popular today, and they are constantly studied, performed, and reinterpreted in diverse cultures throughout the world. Shakespeare will continue to have an enormous impact on future playwrights, novelists, poets, actors, and scholars. My translation⼈们普遍认为，威廉?莎⼠⽐亚是最伟⼤的英语作家和世界杰出的戏剧家。

Unit 1II. TextTips:Business is negotiation. It means that thebusiness life is a permanent negotiation with otherpeople who are defending their own interests.Passage OneNature of NegotiationWhat do you think of negotiation when you hear the word? The president is trying to persuade Congress to pass his budget? The former Los Angeles chief of police, Daryl Gates, trying to persuade the L. A. City Council he was worthy of retaining his job? Exxon fighting with the environmentalists to decide how much the company should pay to clean up the Alaskan shoreline marred by the Valdez oil spill? A department manager is trying to secure more personnel or a larger budget? Labor and management locked in a twelfth-hour contract struggle? Buyer and seller are haggling over the price of a house or a car? Although “negotiation” may be a rather intimidating word for some people, it may help to know that negotiation is a skill which we have already used to some degree almost on a daily basis, on major things like a job, at other times on relatively minor issues, such as who will wash the dishes? So, many daily duties on the job involve some form of negotiations. The structure and processes of negotiation are fundamentally the same at the personal level as they are at the diplomatic and corporate levels, and probably many more times than we realize.The word “negotiation” derives from the Latin infinitive negotiari meaning “to trade or do business”. This verb itself was derived from another, negare, meaning “to deny” and a noun, otium, meaning “leisure”. Thus, the ancient Roman business person would “denyleisure” until the deal had been settled. Negotiation is at the heart of every transaction and, for the most part, it comes down to the interaction between two sides with a common good (profits) but divergent methods①. These methods (the details of the contract) must be negotiated to the satisfaction of both parties. As we will see, it can be a very trying process that’s rife with confrontation and concession. Whether it’s trade or investment, one side will always arrive at the negotiation table in a position of greater power. That power (e.g., the potential for profit) may derive from the extent of the “demand” or from the ability to “supply”. The purpose of negotiation is to redistribute that potential.Many negotiators and researchers have been trying to assign a working definition to the word negotiation. They define the word from different viewpoints and help clarify people’s understanding of the negotiation process. In the following are some examples:· Negotiation is something you do every day of your life, but may not realize it. And it’s absolutely critical to career success.·Negotiation is a discussion intended to produce an agreement; a treating with another respecting sale or purchase; a transaction of business between nations; the mutual intercourse of governments by diplomatic agents, in making treaties, composing difference, etc.·Negotiation is an activity that all managers and professionals engage in. It’s necessary to negotiate at every stage of a project or business transaction, in order to reach an agreement.· Negotiation is a basic, generic human activity — a process that is often used in labor — management relation, in business deals like mergers and sales, in international affairs, and in our everyday activities.· N egotiation is an ancient art. It is a form of decision-making where two or more parties approach a problem or situation wanting to achieve their own objectives, which may or may not turn out to be the same.If everyone.an individual or a company had everything they wanted, there would be no particular reason to negotiate, bargain, or collaborate in decision-making. But in the real world, we do not have everything; the resources we control or influence do not serveall of our interests. Unless we can find and reach agreements with parties who can respond to our interests, our needs will not be satisfied. The negotiations that take place in our daily life to free hostages, to keep peace between nations, or to end a labor strike, etc. dramatize the need for bargaining and its capabilities as a dispute management process. With the growth of teams and project management, the need to negotiate becomes critical. And gone are the days when employees blindly do anything the boss orders. If we want to manage successfully, we’d better have good reasons for what we’re asking, and we’d better be darned persuasive. Moreover, we are far more likely to find agreeable counterparties for joint decision-making if we can offer something that is important to them. Since almost everything is negotiable, there are so many negotiations taking place anywhere and anytime. Among them, the international business negotiations are counted as one of the most important kind of negotiation. The frequency of international business negotiation is increasing rapidly as business becomes more international in scope and extent. Thus, international business negotiations have become the norm for many organizations, rather than an exotic activity that occur only occasionally②. International business negotiations are never straightforward and simple. Any negotiation of this kind between people from different national backgrounds will be difficult, as communication between the parties will be complicated by the clash of cultures that occurs. Each side will be influenced by its own frame of reference and its own way of doing bizarre③. While compromise is necessary in all these negotiations, it becomes even more compelling when different cultural backgrounds are involved.A commercial shown around America describes the prevalent American mindset of negotiating. Have you seen it? As a customer approaches the car salesman, you hear him go over key points in his head. The key points he keeps repeating are: Size up your opponent④! Appear knowledgeable! From the way he approaches the salesman another key point he must have picked up is to look stern and uncompromising. “I better look displeased, so I can get a better deal!” Although the commercial is meant to be comical, it is believed it accurately portrays how most people approachnegotiations.Pick up any book on negotiations and it generally proposes two approaches, the “competitive” —as exemplified by the car commercial —and the “cooperative” approaches. Most people are familiar with the competitive approach because the majority of negotiations are conducted in this manner. The seller asks for one price, usually above the price the buyer is willing to pay. The buyer responds by offering a price below the asked price of the seller. They typically exchange prices until a compromise is reached. “Cooperative” approach means that people should sit down and share their true interests instead of focusing on their positions. Searching for common ground and being creative will result in a negotiated agreement and a much richer relationship.Most of us do tend to think of negotiation in terms of win/lose scenarios⑤. The essence of negotiation is that it is not about winning or losing. It is about striking a deal which is satisfactory to both sides. Of course, your efforts should be directed towards ensuring that it is more satisfactory to your side than to the other. If one of the negotiators holds all the aces and the other knows it, then we are not talking about true negotiation but simply about squeezing out as much gain for the person with all the advantages, regardless of the wishes or needs of the other. A good outcome in negotiation is one in which both sides win. A trading relationship should be mutually beneficial to both sides and ought to be given serious consideration whenever agreements are struck. Business negotiation should not be an event with a winner and a loser. Thus, in a true commercial negotiation, both parties have something to offer and something to gain.TipaNotes:①Negotiation is at the heart of every transaction and, for the mostpart, it comes down to the interaction between two sides with a common good (profits) but divergent methods.at the heart of: key to 关键for the most part: most of the time; in most cases 经常come down to: mean or be equal to in fact 归结为②Thus, international business negotiations have become the normfor many organizations, rather than an exotic activity that occurs only occasionally.become the norm 成为日常行为, norm 原意为: 标准，规范③Each side will be influenced by its own frame of reference andits own way of doing bizarre.frame of reference: cultural framework 文化框架way of doing bizarre: customs of practice 行为习惯④Size up your opponent.size up: to make assessment; measure up 衡量, 估量e.g. Sizing up the wall, we decided that we should need three tinsof paint.我们把墙的大小估计了一下,确定我们将需要三听油漆。

Microeconomics - Testbank 1 (Hubbard/O'Brien)Chapter 3 Where Prices Come From: The Interaction of Demand and Supply1) D emand shows:A) t he quantity of a good that buyers will buy at a given price.B) t he quantities of a good that buyers will buy at all possible prices.C) t he quantity of a good that sellers will sell at a given price.D) t he quantities of a good that sellers will sell at all possible prices.2) W hen the price of a good increases:A) t he demand for the good will decrease.B) t he demand for the good will increase.C) t he quantity demanded of the good will decrease.D) t he quantity demanded of the good will increase.3) W hen the price of a CD decreases:A) t he demand for CDs will decrease.B) t he demand for CDs will increase.C) t he quantity demanded of CDs will decrease.D) t he quantity demanded of CDs will increase.4) T he law of demand states that holding everything else constant:A) b uyers increase the quantities they buy when their incomes increase.B) t here is a positive or up sloping relationship between price and quantity.C) b uyers decrease the amount of a good bought when there is more in the market.D) t here is an inverse or down sloping relationship between price and quantity.5) T he substitution effect results in:A) s ellers substituting less expensive inputs in production.B) b uyers buying more of a good because their purchasing power has increased.C) s ellers producing products when input prices fall.D) b uyers buying more of a relatively cheaper good.6) T he income effect occurs when:A) b uyers buy more of a good because their purchasing power has increased.B) b uyers buy more of a relatively cheaper good.C) s ellers produce more output because their profit has increased.D) s ellers hire more workers because buyers incomes have increased.7) I f we know the individual demands of all buyers in a market, we can find market demand by:A) m ultiplying all the individual prices by the individual quantity demanded.B) a dding all individual prices buyers will pay for each quantity.C) a dding all individual quantities buyers will buy for each price.D) o bserving how much is sold in the market at the current price.8) W hich of the following is not held constant along a demand schedule or curve?A) T he buyer's tastes and preferencesB) T he buyer's incomesC) T he price of the productD) T he buyer's expectations about future prices9) I f the price of a product increases from $12 to $15:A) t he demand for the product will decrease.B) t he demand for the product will increase.C) t he quantity demanded for the product will decrease.D) t he quantity demanded for the product will increase.10) T he phrase ceteris paribus means:A) a fter this, before that.B) s eize the day.C) a ll else equal.D) b uyer beware.11) A n increase in the demand for bananas will NOT be caused by:A) a rise in the price of apples.B) n ews that bananas help relieve stress in people.C) a drop in the market price of bananas.D) b uyers switching to a more healthy diet.12) W hich of the following pairs of goods would be an example of substitutes?A) G asoline and automobilesB) A utomobiles and motorcyclesC) C ooking oil and golf ballsD) C omputers and printers13) W hat would explain the price of gasoline being much higher in 2005 than it was in 2004, yetroughly the same amount of gasoline was bought in both years?A) T he demand for gasoline does not follow the law of demand.B) T he supply of gasoline stayed constant in 2004 and 2005.C) T he demand for gasoline increased from 2004 to 2005.D) T he demand for gasoline decreased from 2004 to 2005.14) I f last year the Ajax firm sold 250 sofas at $1,000 each and this year Ajax sold 500 sofas at$1,500 each, thenA) A jax increased the supply of sofas.B) t he demand for sofas is up sloping.C) t he demand for sofas increased.D) t he quantity demanded has increased.15) T he demand for big screen TVs would fall, if big screen TVs are normal goods and:A) t he market price of big screen television sets increases.B) t here is a larger output of big screen TVs.C) b uyer's of big screen TVs incomes fall because of a recession.D) t he market price of DVDs falls.16) N ormal goods are one that buyers buy:A) l ess of when their incomes decrease.B) d uring normal times.C) m ore of when their incomes decrease.D) a lot of throughout the year.17) I nferior goods are:A) s ubstandard.B) g oods whose purchase is inversely related to consumer incomeC) g oods whose purchase is directly related to consumer income.D) g oods that do not work.18) T he law of demand exists because when price changes:A) t he substitution and income effects work together to change quantity demanded.B) d emand changes.C) s upply changes.D) a ll of the above.19) I f tires and gasoline are compliments, then:A) a n increase in the price of gasoline will reduce the consumption of tires.B) a n increase in the price of gasoline will increase the consumption of tires.C) t ires and gasoline consumption are unrelated.D) a n increase in the price of tires will increase the consumption of gasoline.20) W hen something is fashionable, economists would say that demand would increase because:A) c onsumer incomes have increased.B) c onsumer tastes and preferences have turned favorably towards that product.C) t he price of the product has increased.D) e xpectations of the future price has increased.21) A s the average age of the population of the United States gets older, the demand for:A) c hildren's toys will increase.B) h ealth care will increase.C) r etirement homes will decrease.D) m otorcycles will increase.22) A change in demand represents a ________ while a change in quantity demanded is a________.A) m ovement along one demand curve; shift to a new demand curveB) s hift to a new demand curve; movement along one demand curveC) m ovement along one demand curve; movement along another demand curveD) s hift to a new demand curve; shift to a another new demand curve23) W hat would happen in the red apple market if the price of golden apples decreases?A) N othing, they are separate and unrelated commodities.B) T he quantity demanded of red apples would increase.C) T he demand for red apples would increase.D) T he demand for red apples would fall.24) I f the demand for a good increases when there is high unemployment, we can conclude thatthe commodity is:A) a normal good.B) a n inferior good.C) a good for which the law of demand does not apply.D) a luxury good.25) I f the demand for good X increases, when the price of good Y decreases, then:A) g oods X and Y are inferior goods.B) g oods X and Y are complement.C) g oods X and Y are substitutes.D) g oods X and Y are normal goods.26) I f the demand for good X decreases, when the price of good Y decreases, then:A) g oods X and Y are inferior goods.B) g oods X and Y are complements.C) g oods X and Y are substitutes.D) g oods X and Y are normal goods.27) I f the cost of producing a product increases, then:A) t he quantity demanded will increase.B) t he quantity supplied will increase.C) t he supply of the product will decrease.D) t he demand for the product will decrease.28) T he law of supply implies that:A) t here is a positive or direct relationship between price and quantity supplied.B) t he supply curve slopes upward.C) a s the price of the product increases, the quantity supplied increases.D) a ll of these correctly state the law of supply.29) A n advance in technology increases supply:A) b ecause new technology is so expensive.B) b ecause labor's or capital's productivity increases and costs of production fall.C) b ecause buyers are willing to buy more of a product produced with the latesttechnology.D) a ll of the above.30) A s more firms produce a product:A) m arket supply increases.B) m arket price increases.C) m arket demand increases.D) p roduction costs must increase.31) I f the price of a product increases, then:A) m arket supply will increase.B) m arket supply will decrease.C) q uantity supplied will increase.D) q uantity demanded will increase.32) I f the price of SUVs falls, then:A) t he supply of automobiles will fall.B) t he supply of automobiles will rise.C) t he quantity supplied of automobiles will fall.D) t he quantity supplied of automobiles will rise.33) I f the expected future price of an automobile rises, then:A) t he supply of automobiles will fall.B) t he supply of automobiles will rise.C) t he quantity supplied of automobiles will fall.D) t he quantity supplied of automobiles will rise.34) A t the market equilibrium,A) q uantity demanded is greater than quantity supplied.B) q uantity supplied is greater than quantity demanded.C) q uantity demanded is equal to quantity supplied.D) q uantity supplied determines what quantity supplied will be.35) T he existence of a surplus in a market will cause:A) m arket price to rise and quantity supplied to decrease.B) m arket price to fall and quantity supplied to decrease.C) m arket price to rise and quantity supplied to increase.D) m arket price to fall and quantity supplied to increase.36) T he existence of a shortage in a market will cause:A) m arket price to rise and quantity demanded to decrease.B) m arket price to fall and quantity demanded to decrease.C) m arket price to rise and quantity demanded to increase.D) m arket price to fall and quantity demanded to increase.37) A shortage in a market means:A) q uantity demand is greater than quantity supplied.B) q uantity supplied is greater than quantity demanded.C) d emand is greater than supply.D) s upply is greater than demand.38) A firm tries to increase the demand for the product it sells by:A) l owering its price.B) c onvincing buyers that the price will be lower in the future.C) a dvertising the product to change buyers tastes in favor of the product.D) u sing the latest technology to produce the product.Refer to Figure 3.1 for the questions below.Figure 3.139) I n figure 3.1, if demand increases, then equilibrium:A) p rice and quantity rise.B) p rice and quantity fall.C) p rice rises and quantity falls.D) p rice falls and quantity rises.40) I n figure 3.1, if supply increases, then equilibrium:A) p rice and quantity rise.B) p rice and quantity fall.C) p rice rises and quantity falls.D) p rice falls and quantity rises.41) I n figure 3.1, if demand and supply decrease, then equilibrium:A) p rice rises.B) p rice falls.C) q uantity falls.D) q uantity rises.42) P rice in a competitive market is determined by:A) s ellers unilaterally.B) b uyers unilaterally.C) a n interaction of demand and supply.D) g overnment.43) I f there is a surplus in a market, then the market is brought back into equilibrium by:A) p rice falling.B) q uantity demanded rising.C) q uantity supplied falling.D) a ll of the above.44) I f a market has a shortage, then it will be brought back into equilibrium by:A) p rice falling.B) q uantity demanded rising.C) q uantity supplied rising.D) a ll of the above.45) W hich of the following describes what occurs at a market equilibrium?A) E veryone who wants to buy at the current price can do so.B) E very seller who is willing to sell at the current price can do so.C) T he market is cleared, there is no surplus and no shortage.D) A ll these correctly describe what happens at a market equilibrium.46) I f the price of plywood suddenly increases, which of the following would be a likelyexplanation?A) D emand for construction materials has increased because of a hurricane.B) S upply of plywood has increased because of more competition in the wood productsindustry.C) D emand has decreased because of the higher price.D) P eople are behaving irrationally.47) I f auto workers' wages rise, then the:A) m arket demand for automobiles would increase because buyer incomes would behigher.B) m arket demand for automobiles would decrease because the price of automobileswould be higher.C) m arket supply of automobiles would increase because the price of automobiles wouldbe higher.D) m arket supply of automobiles would decrease because costs of production would behigher.48) S hortly after the price of beef increases, the price of chicken increases also because:A) b uyers are irrational.B) s ellers are taking advantage of consumers.C) t he goods are substitutes and the higher price of beef increases demand for chicken.D) t he goods are complements and the higher price of beef increases demand for chicken.49) A s the population increases:A) d emand for all goods will increase.B) s upply of all goods will increase.C) t he quantity demanded of all goods will increase.D) p rice of all goods will decrease.1-5:BCD DD6-10:AC CCC11-15:CB CCC16-20:AB AAB21-25:BB DBB 26-30:CCDBA 31-35:CA©ACB 36-40:A ACAD 41-45:CCA无D 46-49：ADCA。

物品的价格和特征的英文作文四年级全文共6篇示例，供读者参考篇1Title: The Wonderful World of Prices and FeaturesHello, my name is Alex, and I'm a 4th-grade student. Today, I want to talk to you about the prices and features of different items we use in our daily lives. It's an exciting topic, and I've learned a lot about it from my parents, teachers, and friends.Let's start with the most common items we use every day –food and drinks. When we go to the grocery store, we see different prices for different items. Some items are expensive, while others are cheaper. For example, a box of cereal might cost 4, while a loaf of bread might cost 2. My mom always tells me that we should compare prices and choose the item that gives us the most value for our money.But it's not just about the price; we also need to consider the features of the item. For example, some cereals are healthier than others because they contain more fiber or less sugar. Some breads are made with whole grains, which are better for ourbodies. My mom always reads the labels carefully to make sure we're getting the best quality food.Speaking of features, have you ever noticed how different toys have different features? Some toys are simple and straightforward, while others are more complex and have lots of bells and whistles. For example, a basic toy car might cost just a few dollars, but a remote-controlled car with lots of features could cost 50 or more.When it comes to toys, my parents always remind me that the most expensive toy isn't necessarily the best one. Sometimes, a simple toy can provide hours of fun and imagination. It's important to think about what features we really need and what features are just extras that we might not use.Another item that has a wide range of prices and features is clothing. Have you ever noticed how some shirts or pants are more expensive than others? That's because they might be made of higher-quality materials or have special features like moisture-wicking or stain-resistance.My dad always tells me that it's important to consider the features of clothing items when we're shopping. For example, if we're buying gym clothes, we might want to look for items thatare made of breathable, moisture-wicking fabrics to keep us cool and dry during exercise.Technology is another area where prices and features can vary greatly. Have you ever seen a basic laptop that costs a few hundred dollars and a high-end laptop that costs over a thousand dollars? The more expensive laptop might have a faster processor, more storage space, and a better display.My older brother is really into technology, and he always does a lot of research before buying a new gadget. He looks at the features and specifications to make sure he's getting the best value for his money.Sometimes, it's worth paying a little more for an item that has better features and will last longer. Other times, a less expensive item with fewer features might be the better choice, especially if we don't need all the extra bells and whistles.It's also important to remember that just because something is more expensive doesn't necessarily mean it's better. Some companies charge more for their products because of their brand name or marketing, even though the actual features might be similar to a less expensive item.At the end of the day, it's all about finding the right balance between price and features that meets our needs and fits our budget. My parents always encourage me to do my research, compare different options, and make informed decisions.I hope this essay has helped you understand a little bit more about the wonderful world of prices and features. It's a fascinating topic, and I'm sure there's still a lot more for me to learn. But for now, I'll leave you with this: the next time you're shopping for something, take a moment to think about the price and the features. You might be surprised at how much you can learn and how much money you can save!篇2The Prices and Features of ItemsHi there! My name is Emma, and I'm a fourth-grader at Oakwood Elementary School. Today, I want to talk to you about something that I find really interesting – the prices and features of different items we use in our daily lives.Let's start with something that we all love – toys! My favorite toy is my brand new remote-controlled car. It's so cool! It's bright red, and it can go really fast. It even has working headlights that light up at night. The best part is that it was onsale at the toy store, so my parents didn't have to pay the full price of 39.99. They got it for only 29.99! What a bargain!Speaking of bargains, my mom is always on the lookout for good deals when she goes shopping for our clothes. She says that it's important to compare the prices and features of different items before buying them. Last week, she found these really cute t-shirts for me and my little brother. They were on sale for 5 each, which is a great price because they're usually 10 each. The best part is that they're made of soft, comfortable cotton, and they have these adorable animal prints on them.My dad is always checking the prices and features of electronics before he buys them. He says that technology changes so quickly that you have to be careful about not overpaying for something that will be outdated soon. Last year, he bought a new laptop for work, and he spent a lot of time researching different models. He ended up getting one that was on sale for 799, which was a good price because it had a powerful processor, a large hard drive, and a long-lasting battery.Even when it comes to something as simple as food, my parents always check the prices and features before they buy anything. Just last week, my mom was at the grocery store, andshe noticed that the store brand of cereal was on sale for half the price of the name brand. She checked the nutrition labels, and they were almost exactly the same, so she bought the store brand and saved us a lot of money.Another example is my mom's new vacuum cleaner. She did a lot of research before she bought it, and she ended up getting one that was a little bit more expensive than the others, but it had really strong suction and a HEPA filter, which is great for people with allergies like me.Sometimes, though, the cheapest option is the best one. My grandpa always buys the store brand of canned vegetables because he says that they taste just as good as the name brands, but they're a lot cheaper. And you know what? He's right! I can't tell the difference between the store brand and the name brand when it comes to things like canned corn or green beans.Another example is my cousin's new bike. She's a really serious cyclist, and she saved up for months to buy a new racing bike that cost over 1,500. But she says that it's worth it because it's made of lightweight materials, and it has special gears and brakes that make it easier to ride long distances.As you can see, there's a lot to think about when it comes to the prices and features of different items. Sometimes, it's worth itto pay a little bit more for something that has better features or that will last longer. Other times, the cheaper option is just as good as the more expensive one.No matter what you're buying, though, it's always a good idea to do your research and compare the prices and features of different items before you make a decision. That way, you can make sure that you're getting the best value for your money.Well, that's all I have to say about the prices and features of items. I hope that this essay has been helpful and informative. Thanks for reading, and remember – always shop smart!篇3The Wonderful World of Prices and FeaturesHave you ever gone shopping with your parents and wondered why some things cost more than others? Or have you ever asked yourself, "What makes this toy better than that one?" Well, my friends, today we're going to explore the fascinating world of prices and features!First, let's talk about prices. When you go to a store, you'll see little tags or stickers on everything, telling you how much each item costs. These prices can be very different, even forsimilar things. For example, a pack of crayons might cost 2, while a fancy set of colored pencils could cost 10 or more!So, why do some things cost more than others? There are a few reasons:The materials: Some items are made from more expensive materials. A toy car made of plastic might cost less than one made of metal because metal is more valuable and harder to work with.How it's made: Some things are made by machines in big factories, while others are made by hand by skilled workers. Hand-made items usually cost more because they take more time and effort.Brand names: You've probably heard of popular brands like Lego, Barbie, or Nintendo. These brands are very famous, and people are often willing to pay more for their products.Features: This is a big one! Items with more features or extras tend to cost more. We'll talk more about features in a bit.Now, let's move on to features. Features are the special things that make an item different or better than others. For example, a basic toy car might just roll on the floor, while a fancier one could have lights, sounds, and even remote control!Here are some common features that can make items more expensive:Electronics: Anything with batteries, lights, sounds, or remote control is usually more expensive than a simple,non-electronic version.Extra pieces or accessories: A basic doll might just come with the doll itself, but a fancier one could come with extra clothes, shoes, brushes, and even a little house or car!Better materials: As we talked about before, items made from higher-quality materials like metal, wood, or real leather will often cost more than plastic or fake versions.Special designs or details: A plain t-shirt might be cheap, but one with cool designs, logos, or special patterns could cost a lot more.Extra functions: A basic calculator just does math, but a scientific calculator can do way more complicated calculations and might even have a built-in graphing feature!Now that you know about prices and features, let's look at some examples:Example 1: BicyclesA basic kids' bike with no gears or extras might cost around 100. But a fancy mountain bike with multiple gears, shocks (for a smoother ride), and extra features like a water bottle holder could easily cost 500 or more!Example 2: BooksA simple paperback book might cost 5 or 10, while a big, hardcover book with lots of pictures and fancy illustrations could cost 20 or even 30!Example 3: BackpacksA plain backpack for school might only cost 10 or 15. But a backpack with lots of pockets, padded straps, and a special design (like your favorite cartoon character) could cost 30 or more.As you can see, prices and features go hand-in-hand. The more features an item has, the more expensive it usually is. But that doesn't always mean the most expensive option is the best one for you. Sometimes, a simple, cheaper item with just the basic features you need is perfectly fine!The next time you go shopping, pay attention to the prices and features of different items. See if you can figure out why some things cost more than others. And remember, just becausesomething is more expensive doesn't always mean it's better –it's all about finding the right item with the features you want at a price you're willing to pay.Happy shopping, my friends! And may the prices and features be ever in your favor!篇4物品的价格和特征大家好！我是小明，今天我要给大家分享一些关于物品的价格和特征的知识。