Online exchanges?

　　Online exchanges have emerged as some of the internet's best businesses - but also as some of the worst

　　So the internet hasn't revolutionised the (0).....A.... most of us buy petrol, or watch movies. But there is one thing the internet does very well. It can bring together (19) ............ dispersed buyers and sellers to create active, efficient markets where none(20)............before. This facility has (21) ............to the emergence of online exchanges: retail businesses with none of the usual traders' risks - no merchandise, no storefronts - and with nothing to do but take a (22)............of each transaction that takes place on the site.

　　This may sound straightforward, but some high-profile online exchanges have(23)..........out to be major embarrassments. One company, which tried to establish a central marketplace on the internet for auto parts, has invested, in (24).............a massive $250m and is (25)............to stay in business. Another businessman, who facilitated online trading in business equipment and supplies, (26)............after he had lost $280m.

　　So what does a company need in order to be successful? You could call it good'market architecture' - a structure that (27)............the right business plan and top technology with good timing and the (28)............of both buyers and sellers.

　　Mike Pham's company, eStream, is an excellent example of one business that met these (29).............Back in 1996, when Pham was looking for a loan, he didn't like filling in the same form every time he (30)............to a new lender.That got him thinking. Why not (31)............prospective borrowers to complete a standard form and circulate that to a number of lenders, who would then make an offer to the borrower, in (32)............with each other?

　　Pham's company is doing well. Last year, eStream (33)............more than 1.5 million loans on behalf of 170 lenders.

　　19 A largely B deeply C mainly D widely

　　20 A existed B occurred C happened D developed

　　21 A led B brought C caused D resulted

　　22 A number B percentage C division D quantity

　　23 A pulled B made C turned D carried

　　24 A sum B total C amount D figure

　　25 A applying B exerting C strugglingD forcing

　　26 A left outB gave up C drew backD ran down

　　27 A adds B connects C combines D links

　　28 A confidence B security C certainty D promise

　　29 A necessities B propositions C measures D criteria

　　30 A requestedB asked C applied D demanded

　　31 A attract B invite C suggest D recommend

　　32 A contrast B conflict C challenge D competition

　　33 A performed B dealt C handled D treated

　　《Online exchanges》，在線交易。

　　19題，理解了意思不難做出選擇，是說(shuō)將廣泛分散的賣(mài)家和買(mǎi)家聚集到了一起。用widely dispersed。

　　20題，以前從未存在過(guò)的。None existed before。

　　21題，這套設(shè)備導(dǎo)致了在線交易的出現(xiàn)。lead to導(dǎo)致。

　　22題，take percentage of是個(gè)常用詞組，意思是要拿走一部分。看個(gè)例句：I don’t take a percentage of your ad buy。在買(mǎi)賣(mài)中常用到這個(gè)說(shuō)法。

　　23題，turned out to be，固定用法，結(jié)果是

　　24題，in total總共，固定用法

　　25題，從意思上理解，是說(shuō)掙扎著、努力著要在這個(gè)行業(yè)待下來(lái)。用struggle。

　　26題，也要從意思上理解。這一段是講的major embarrassments，舉的例子都是消極的，前面說(shuō)一個(gè)公司掙扎著要留下來(lái)，后面說(shuō)當(dāng)這個(gè)businessman損失了280m的時(shí)候，供應(yīng)商放棄他了。用give up。

　　27題，combine with，結(jié)合。將正確的商業(yè)計(jì)劃和頂級(jí)技術(shù)結(jié)合好的時(shí)機(jī)和買(mǎi)家和賣(mài)家的信任。

　　28題，買(mǎi)家和賣(mài)家的信任。用confidence。

　　29題，meet/satisfy/fulfil criteria滿足標(biāo)準(zhǔn)，看朗文的一個(gè)例句：To qualify for a grant, students must satisfy certain criteria。

　　30題，apply to 在這里是申請(qǐng)的意思：to make a formal request, usually written, for something such as a job, a place in a university, or permission to do something�？匆粋�(gè)例句：I applied to four universities and was accepted by all of them.這個(gè)句子的意思是他不喜歡每次申請(qǐng)新的借款人時(shí)都要填相同的表格。

　　31題，這里填入invite，使用的是一個(gè)不太常用的意思：to politely ask someone to do something。禮貌的邀請(qǐng)某人做某事。整個(gè)句子的意思是邀請(qǐng)借款者填寫(xiě)一個(gè)標(biāo)準(zhǔn)的表格，然后表格在債主那里流通。

　　32題，in competition with each other相互競(jìng)爭(zhēng)。

　　33題，處理了1.5m的貸款。用handle，deal的話要加with.