free Online Test Cloze Test Questions and Answers Quiz 80
Description: Free Online Test questions and answers on Cloze Test with explanation for various competitive exams,entrance test. Solved examples with detailed answer test 80
"To err is human; to forgive, divine."
- Alexander Pope
Directions(1 to 10):The world is witnessing food price turbulence again.
A bad drought in Russia, rising demand in the US and
developing countries, and Pakistan’s blighted crop
prospects after i ts floods are keeping prices of
commodities such as cereals, sugar, oil and meat high.
The Food and Agriculture Organization’s monthly food
price (1) is heading north.
India is not (2) from this problem even at the best
of times. For the week that ended on 11 September,
food prices (as (3) by the Wholesale Price Index) rose
Given the robust demand for foodstuffs, a time of
price volatility calls for a careful look at the “design”
issues surrounding food supply management. At times,
even huge food stocks are not able to (4) rising food
prices. The fault lies in how food is released to traders
by government agencies such as the Food Corporation
of India (FCI). This problem is apart from FCI’s high
carrying cost of foodgrains. But this is not the problem
For example, under the open market sales scheme
(OMSS) a fixed quantity of grain, usually in multiples
of 10 metric tonnes, is sold to traders, flour mills
and other buyers when supplies are (6) or there is
price volatility. But a combination of price rigidity,
terms of sale and the quantity sold under OMSS
defeats its purpose. One reason for this is the large
volume in the hands of very few individual buyers.
This (7) to perverse economic incentives.
Often, the grain sold under this scheme winds up
back with food (8) agencies because of price
differentials (the price at which it is sold and the
prevailing market price). This has been observed many
ti mes in states as diverse as Punjab and Uttar
Pradesh. If the number of buyers is (9) and the
quantity sold to each buyer reduced, or the price fixed
but the amount of grain that can be bought kept
flexible, these problems can be (10)