阅读理解
Commodities (日用品) are basic materials that are used and traded worldwide. The price of
commodities helps determine how much a business can charge for a product and the profit it can
make. Commodity prices have reached a two-year high since falling sharply during the world financial
crisis.
Hard commodities are materials like iron ore, oil and gold. Agricultural products are soft
commodities. These include wheat, cotton and rice.
Economic measures show the world economy is recovering. China and India, for example, have
reported strong growth in manufacturing (制造业). Developed nations have had slower growth.
John James, a business professor at Pace University, says demand in developing economies can push
up prices for commodities like oil and iron ore used for making steel. But, he says, changing currency
values can also influence prices.
Gold prices have reached record levels in recent months. That means gold dealers must pay more
for the commodity now than they did only a year ago. That affects current prices.
Not surprisingly, manufacturers want some control over the prices they pay for commodities.
Futures (期货) contracts are agreements between a buyer and a seller to exchange something at a
set price at some time in the future. These contracts let buyers lock in a price for basic materials. But
some traders in futures markets only want to make a profit. They buy or sell contracts depending on
the direction they believe prices will go. These speculators (投机者) get condemned when prices rise,
or fall, too quickly. The United States, Germany and France are looking into ways to limit this kind of
trading.
Some experts say exporting commodities is not a good path to long-term economic growth. The
United Nations recently reported that the least developed countries must change their economies to
provide good incomes for their citizens. A UN official says the least developed countries need to cut
dependence on commodities and manufacture products for export. He says only this will let them gain
from world trade.
1. How many of the following are soft commodities?
① gold ②corn ③ cotton ④ iron ⑤ education
⑥ oil ⑦ fruits ⑧ rice⑨ salt ⑩ vegetables
A. Three.
B. Four.
C. Five.
D. Six.
2. What is the leading factor for this round of growth of commodity prices?
A. The growth of gold prices.
B. The speculators' seeking higher profits.
C. Growth of demands in developed economies.
D. Growth in manufacturing in developing nations.
3. The underlined word "condemned" in the last but one paragraph probably means ______.
A. blamed
B. killed
C. limited
D. tolerated
4. What is mainly discussed in the last paragraph?
A. Measures to be taken by the United Nations.
B. Solutions to this problem for developing nations.
C. The disadvantages of high prices of commodities.
D. How to bring down the high prices of commodities.
