Show Para
This Tuesday, analysing the panic buying of toilet paper rolls, a professor started a provocative Twitter thread. He points out that (1) by fear of the spreading pandemic, shoppers have been mobbing stores worldwide. They’re stockpiling canned goods, flour, sugar, bottled water, hand sanitizer—and even toilet paper.
The professor believes desperate buyers aren’t crazy. “The economics of toilet paper (2) is the same as bank runs,” he tweeted. A bank run occurs when depositors of a bank withdraw cash because they believe it might collapse. Until the FDIC started guaranteeing bank deposits in 1933, it made (3) for nervous savers to pull their money out when they saw their neighbors doing the same. Likewise, people are stockpiling toilet paper because others are (4) up too, depleting supplies.
He argues that panic buying can be a bit more rational. There is nothing inherent in markets that can prevent this.
How does this news of an Australian man (5) a knife for toilet paper sound? And that too just to score the last roll on the shelf at a Woolworths Supermarket in Sydney. The incident leaves us with an important question - what should be done to (6) toilet paper shortage-sparked violence?
English Language
Direction (1 - 6) -: In the following passage, there are blanks, each of which has been numbered. These numbers are printed below the passage and against each, five words are suggested, one of which fits the blank appropriately. This Tuesday, analysing the panic buying of toilet paper rolls, a professor started a provocative Twitter thread. He points out that (1) by fear of the spreading pandemic, shoppers have been mobbing stores worldwide. They’re stockpiling canned goods, flour, sugar, bottled water, hand sanitizer—and even toilet paper.
The professor believes desperate buyers aren’t crazy. “The economics of toilet paper (2) is the same as bank runs,” he tweeted. A bank run occurs when depositors of a bank withdraw cash because they believe it might collapse. Until the FDIC started guaranteeing bank deposits in 1933, it made (3) for nervous savers to pull their money out when they saw their neighbors doing the same. Likewise, people are stockpiling toilet paper because others are (4) up too, depleting supplies.
He argues that panic buying can be a bit more rational. There is nothing inherent in markets that can prevent this.
How does this news of an Australian man (5) a knife for toilet paper sound? And that too just to score the last roll on the shelf at a Woolworths Supermarket in Sydney. The incident leaves us with an important question - what should be done to (6) toilet paper shortage-sparked violence?
Go to Question: