Understanding Price Changes: Fill in the Blank

The question asks us to select the most appropriate word to complete the sentence: "In the past month, the price of oil has ______ several times." We need a word that accurately describes how the price of something like oil behaves when it changes value up and down frequently.

Analyzing the Options for Price Fluctuation

Let's look at the meaning of each word provided as an option:

• Fluctuated: This means to rise and fall irregularly in number or amount. Prices often do this.
• Fumbled: This typically means to handle something awkwardly or to make a mistake, especially when trying to do something quickly or effectively. This word doesn't make sense when talking about price changes.
• Failed: This means to be unsuccessful in achieving an objective or to cease to function. A price itself doesn't 'fail' in this sense, although a product or company associated with the price might.
• Faltered: This means to lose strength or momentum, or to speak or move hesitantly. While a price might 'falter' if it starts to drop or slow its rise, it doesn't capture the idea of rising and falling multiple times.

Determining the Best Fit for Oil Price Movement

The sentence states that the price of oil has changed "several times" in the past month. We are looking for a word that describes repeated changes, going up and down. Based on our analysis of the options:

• 'Fumbled' and 'failed' are clearly inappropriate for describing price movement.
• 'Faltered' implies a loss of momentum or hesitant movement, not necessarily rising and falling repeatedly.
• 'Fluctuated' perfectly describes something, like the price of oil, rising and falling irregularly multiple times over a period.

Therefore, the most appropriate word to describe the repeated changes in the price of oil over the past month is 'fluctuated'. The sentence "In the past month, the price of oil has fluctuated several times" accurately reflects the common behavior of commodity prices.

Why 'Fluctuated' is Correct

The sentence describes the price of oil changing multiple times within a month. This type of up-and-down movement is precisely what the word "fluctuated" means. It is the standard term used in economics and finance to describe such variations in value or level.

Revision Table: Understanding Vocabulary for Price Changes

Additional Information on Price Movements

Understanding words related to price changes is important in economics and business. Prices of goods and commodities like oil, gold, or stocks are rarely fixed. They change based on many factors, including supply and demand, global events, economic indicators, and market sentiment.

• When prices go up and down frequently over a short period, they are said to fluctuate.
• Significant fluctuations indicate high market volatility.
• Economists and analysts study these changes to identify trends and make predictions.
• Market stability is often a goal, where prices show minimal fluctuation.

In the context of the question, describing the price of oil changing "several times" strongly suggests this kind of irregular up-and-down movement, which is best captured by the word 'fluctuated'.