In the following passage, some words have been deleted. Fill in the blanks with the help of the alternatives given. Select the most appropriate option for each number. A knowledge economy is either economy of knowledge focused on the economy of the producing and management of knowledge or a knowledge-based economy. In the second meaning, more (1) _____ used, it is a phrase that refers to the use of (2) ______ to produce economic benefits. The (3) ______ was popularized by Peter Drucker in his book the Age of Discontinuity.
In this new economy, it is (4) _____ that the key to success is "knowledge". But the rules and (5) ______ that determine (6)_____ in the industrial economy of the 20th Century need rewriting in an interconnected (7) _____ where resources such as know-how are more (8) _____ than other economic resources. These rules need to be rewritten at the (9) _____ of firms and industries in terms of knowledge policy or knowledge-related policy. (10) ______, this means that business must be in a constant process of change and adaptation to the new economic realities.
Which of the following words should be filled at (6) as per the context of the passage from the given options?
success
Explaining Blank (6): Defining Economic Achievement
This question asks us to identify the most suitable word to fill in the blank at position (6) within the provided passage discussing the knowledge economy. The specific sentence containing the blank is: "But the rules and (5) ______ that determine (6)_____ in the industrial economy of the 20th Century need rewriting..."
To accurately select the word for blank (6), we need to carefully consider the surrounding text and the overall theme of the passage. The passage contrasts the traditional industrial economy with the modern knowledge economy. It explicitly states that in the new economy, "knowledge" is identified as the primary driver for achieving success.
The sentence in question highlights that the established frameworks – the rules and associated factors – which dictated certain outcomes in the 20th-century industrial economy are now considered outdated and require modification for the interconnected, knowledge-driven era.
Let's evaluate the given options for blank (6):
- employment: While employment is a crucial aspect of any economy, the passage emphasizes a broader concept related to achieving positive results through knowledge. The context points towards a more overarching goal than just employment figures.
- pleasure and enjoyment: These options relate to personal feelings and subjective experiences. They are not typically the main outcomes measured or determined by economic rules and policies in the large-scale context described in the passage.
- success: This option strongly aligns with the passage's earlier statement that "knowledge" is the key to success. It logically follows that the rules and other factors that determined success in the industrial economy are precisely what need to be re-examined and updated for the current economic landscape. The passage sets up a clear comparison between the determinants of success in the old versus the new economic models.
Based on this analysis, success is the most contextually appropriate word for blank (6). It represents the ultimate goal or achievement that economic rules and strategies are designed to influence and determine, fitting the comparative context presented in the passage.
Important Questions from Vocab and Grammar Based Questions
Select the most appropriate option that will fill in the blank number 2.
Select the most appropriate option that will fill in the blank number 3.
Select the most appropriate option that will fill in the blank number 4.
Select the most appropriate option that will fill in the blank number 5.
Select the most appropriate option to fill in blank number 1.
