Text 3
Every product on the market has a variety of costs built into it before it is ever put up for sale to a customer. There are costs of production, transportation, storage, advertising, and more. Each of these costs must bring in some profit at each stage: truckers must profit from transporting products, or they would not be in business. Thus, costs also include several layers of profits. The selling price of a product must take all of these costs( and built - in profits) into consideration. The selling price itself consists of a markup over the total of all costs, and it is normally based on a percentage of the total cost.
The markup may be quite high 90 percent of cost or it may be low. Grocery items in a supermarket usually have a low markup, while mink cost have a very high one. High markups, however, do not in themselves guarantee big profits. Profits come from turnover. If an item has a 50 percent markup and does not sell, there is no profit. But
A. demonstrate the bad quality of these items
B. get them to purchase some other articles
C. earn some dirty money from these items
D. persuade them to buy what they don' t really need
Text 3
Every product on the market has a variety of costs built into it before it is ever put up for sale to a customer. There are costs of production, transportation, storage, advertising, and more. Each of these costs must bring in some profit at each stage: truckers must profit from transporting products, or they would not be in business. Thus, costs also include several layers of profits. The selling price of a product must take all of these costs( and built - in profits) into consideration. The selling price itself consists of a markup over the total of all costs, and it is normally based on a percentage of the total cost.
The markup may be quite high 90 percent of cost or it may be low. Grocery items in a supermarket usually have a low markup, while mink cost have a very high one. High markups, however, do not in themselves guarantee big profits. Profits come from turnover. If an item has a 50 percent markup and does not sell, there is no profit. But
A. the buyer search from place to place for desired object
B. the government selects the best items
C. the government transacts with an individual
D. the sellers compete with each other for the bid
Text 4
The housing market has been for two years propping up consumers’ spirits while the rest of the economy lies exhausted on the floor, still trying to struggle to its feet. According to the National Association of Realtors, the national median existing-home price ended the year at $164,000, up 7.1 percent from 2001. That’s the strongest annual increase since 1980.
Although residential real estate activity makes up less than 8% of total U. S. GDP, a housing market like this one can make the difference between positive and negative growth. Most significantly, consumer spending is 66 % of GDP, and the purchase of a new home tends to have an "umbrella effect" on the homeowner’s spending as he has to stock it with a washer/ dryer, a new big-screen TV, and maybe a swing set for the yard.
The main factor in housing’s continued strength is a classic economic example of zero-sum boom: the persistent weakness everywhere e
A. the boom of real estate activity.
B. the statistics on home prices.
C. the role of housing market.
D. the degree of consumer spirits.
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