1. Read the following text and answer the following questions.
(1) The crisis didn’t affect agriculture. ( )
(2) The prices of shares were the same as their real value. ( )
(3) During the recession, unemployment increased. ( )
(4) People didn’t know if they should withdraw their money from the bank. ( )
(5) People wanted to sell their shares. ( )
During the Roaring Twenties, the stock market was booming. Profits led to a rise in demand for shares, whose value rose steadily. The economy could not continue to grow at such a rapid rate forever. Many people knew that the prices of shares were higher than their real value. On 24th of October 1929, people began to panic and sell massive amounts of stock. Everyone wanted to sell their shares and no one wanted to buy them. This caused a sharp fall in share prices, which resulted in the Stock Market Crash of 1929. Many investors lost everything. Panic spread and people flocked to the banks to withdraw their money. Banks lost the money they had loaned to people and companies that had gone bankrupt. Banks had no money to lend to customers so there was a credit crunch. Many banks had to close. The crisis affected industry, trade and agriculture and caused a widespread economic recession (the Great Depression). Unemployment increased, consumption declined and many factories closed. Many families fell into poverty.
###2. Match the meaning of the words bolded and underlined in the text.
boom rise spread flock withdraw recession decline
A to increase in number, amount, or value; go up
B a quick increase of business activity
C to take out; to stop taking part in an activity, belonging to an organization etc
D a decrease in the quality, quantity, or importance of something
E it becomes larger or moves so that it affects more people or a larger area
F a group of sheep, goats, birds, or people
G a period when the economy of a country is not successful and conditions for business are bad
3. Based on the meaning of these words, fill the blanks with your own ideas.
(1) I like to ____ the peanut butter on the toast.
(2) I need to ____ some money from the ATM to pay my rent.
(3) My memory ____ as I get older.
(4) Every winter, the birds in Canada ____ to the south.
(5) The divorce rate has ____ steadily since the 1950s.
(6) The world is suffering from a severe ____.
(7) The _____ has created job opportunities.
ANSWER SHEET
- Read the following text and answer the following questions. (1) The crisis didn’t affect agriculture. (F) (2) The prices of shares were the same as their real value. (F) (3) During the recession, unemployment increased. (T) (4) People didn’t know if they should withdraw their money from the bank. (F) (5) People wanted to sell their shares. (T)
During the Roaring Twenties, the stock market was booming. Profits led to a rise in demand for shares, whose value rose steadily. The economy could not continue to grow at such a rapid rate forever. Many people knew that the prices of shares were higher than their real value. On 24th of October 1929, people began to panic and sell massive amounts of stock. Everyone wanted to sell their shares and no one wanted to buy them. This caused a sharp fall in share prices, which resulted in the Stock Market Crash of 1929. Many investors lost everything. Panic spread and people flocked to the banks to withdraw their money. Banks lost the money they had loaned to people and companies that had gone bankrupt. Banks had no money to lend to customers so there was a credit crunch. Many banks had to close. The crisis affected industry, trade and agriculture and caused a widespread economic recession (the Great Depression). Unemployment increased, consumption declined and many factories closed. Many families fell into poverty.
- Match the meaning of the words bolded and underlined in the text.
boom rise spread flock withdraw recession decline
A. to increase in number, amount, or value; go up
rise
B
a quick increase of business activity
boom
C
to take out; to stop taking part in an activity, belonging to an organization etc
withdraw
D
a decrease in the quality, quantity, or importance of something
decline
E
it becomes larger or moves so that it affects more people or a larger area
spread
F
a group of sheep, goats, birds, or people
flock
G
a period when the economy of a country is not successful and conditions for business are bad
recession
- Based on the meaning of these words, fill the blanks with your own ideas.
(1) I like to spread the peanut butter on the toast.
(2) I need to withdraw some money from the ATM to pay my rent.
(3) My memory decline as I get older.
(4) Every winter, the birds in Canada flock_ to the south.
(5) The divorce rate has __risen steadily since the 1950s.
(6) The world is suffering from a severe _recession__.
(7) The _boom__ has created job opportunities.
