●Read the following article about the development of the knowledge economy andthe questions on the opposite page .
　　●For each question 15 – 20 ， mark oneletter （A， B， C or D ） on your Answer Sheet for the answer youchoose.
　　There have long been markets in tin， cocoa， silver and the like.There used to be security in thinking that somewhere there was a product，something you could touch and see.Now there are new markets in abstractions，trade in ideas and knowledge.Everyone has knowledge but there used to be no wayt o trade it ——except through jobs.That simple fact of economic life was thebasis for white collar employment for centuries.The whole job culture grew upbecause there was no alternative way to sell knowledge ， other then the workeror manager providing， for a fixed price， his or her knowledge to an employer toown or control.The quantity of knowledge provided has typically been measuredin time.
　　But today we stand at the thresh-old of a new era.The informationeconomy has matured and become smarter.According to many business commentators，we are now living in a knowledge economy .There has always been a market forknowledge ， of course.The publishing industry is based on it.But today theinternet is making the distribution of knowledge ever easier.The days when thepublisher decided what got published are over.Anyone with a Pc and a modem cantalk to the world.This is reducing the friction in the knowledgeeconomy.
　　Everyone has knowledge of whatever industry she or he is in.sayyou are a computer dealer， for example.Over the years your have complied a listof the ten best lowest price places to buy wholesale computer equipment.Now youcan sell your knowledge to newer， younger computer dealers who have no way tobuild up this knowledge without losing thousands of pounds finding it out thehard way.Until now， such knowledge remained securely locked in the recipient‘shead ，accumulated and then worthlessly withered away.This no longer needs to bethe case.Such knowledge can be sold via websites.
　　Knowledge has a distinctadvantage in today‘s marketplace.It’s a renewable resource.Better yet， itsworth actually increases.“knowledge is the only asset that grows with use.”observes Scanford University Professor Paul Romer.But what exactly is knowledgeand how can it be packaged to trade on an open market“ ” knowledge isexperiential information， intelligence applied thorough and gained fromexperience.“ Say Josenph Pine and James Gilmore in their book The ExperienceEconomy.
　　The value of knowledge often depends on variables such as time andthe credibility of the seller.Certian knowledge may have a very limited shelflife.In sights concerning how to set up an internet business in one country，might be worth a fortune on one day and nothing the next ， depending on changesin government policy.Markets in knowledge will be significance for one thing.They represent one of the most original uses of the web technology.In somecorner of the globe there is a company wanting to source plastic widgets fromPoland， and somewhere else another company that wishes to set up a plasticsfactory there.It‘s simply a case of connecting the two.
　　Indicater.com is agood example of a knowledge trader.It is targeted at food service managersthroughout the hospitality industry.“we started with the context rather thanextracting money from suppliers.” explains founder Mike Day.“ we offer foodservice professionals interactive support to increase sales and profits.Peopledon‘t want another one-dimensional site full of advertising that doesn’t helpthem to do their job more effectively .it has to be customised offering realsolutions to real problems.” the site‘s features include access to onlinetraining and a tariff tracker to restaurants can check prices throughout thesector.
　　15.what point is made in the first paragraph？
　　A Interest incommodity markets has decreased.
　　B Overall levels of expertise haveimproved.
　　C Opportunities to exploit your knowledge were limited in thepast
　　D External market forces have meant knowledge is underpriced.
　　16what are we told about the current impact of the internet in the secondparagraph？
　　A publishers benefit from their exploitation of theinternet.
　　B the internet has made it easier to analyse businesstrends.
　　C It is difficult to calculate the true economic value of theinternet.
　　D the internet facilitates the development of the knowledgeeconomy.
　　17 In the third paragraph， what does the writer say aboutknowledge？
　　A Acquiring knowledge can be expensive
　　B The most valuableknowledge concerns IT
　　C Trading knowledge raises issues of security.
　　DNew businesses find it hard to trade in knowledge.
　　18.What point is madeabout knowledge in the fourth paragraph？
　　A It provides specialistinformation
　　B Its appeal lies in its exclusivity
　　C it can generate newideas
　　D Its value accumulates.
　　19 which application of knowledge doesthe writer regard as particularly useful？
　　A analyzing manufacturingtrends
　　B introducing compatible parties
　　C interpreting timeconstraints
　　D advising on legislation
　　20 what key feature is providedby Indicater.com？
　　A approaches that reflect the provider‘s ownexperience
　　B access to appropriately trained potential employees.
　　Cadvice which directly benefits the bottom line
　　D advertising which iscarefully targeted

Questions 21 -30
　　Read the text belowabout the improved performance of a car company.
　　Choose the best word tofill each gap from （A， B， C or D） on the opposite page.
　　For each question21-30，mark one letter （A， B， C or D） on your Answer Sheet.
　　There is anexample at the beginning， （0）
　　Improved performance at Carter&Sons
　　There was good news in Carter & Sons‘ annual （0） yesterday.Threeyears of restructuring （21） in an upbeat statement from the company in advanceof the official announcement of its interim （22） due early in August.Thechairman， David Carter， reported a “ strong start to the year”， which， althoughhelped by a rather weak （23） period last year， highlighted the logic ofrefocusing the group on growth sectors.Three years ago the company （24） areview of all its operations in view of the serious financial difficulties thatit was （25） As a result of this， its car （26） business was sold to an Americangroup， and its car sales and repair divisions were （27） down so as to allow thecompany to （28） on the sale of vans and heavy goods vehicles.Three newshowrooms have been opened in the UK and Ireland ， and the sales （29） has morethan doubled in the last two years.
　　Growth in business across the group hasgone up by almost 12 per cent in the first half of the year.This shouldreassure investors that Carter & Sons is now on （30） to deliver increasedearning in the years ahead.
　　Example ：
　　A report B Notice C account Dinformation
　　21 A terminated B culminated C accomplished Dcompleted
　　22 A economics B finances C outcomes D results
　　23 A relativeB alike C comparative D equivalent
　　24 A commissioned B assigned C delegatedD appointed
　　25 A dealing B facing C undertaking D withstanding
　　26 Aadditions B extras C accessories D supplements
　　27 A scaled B marked Cslowed D put
　　28 A emphasise B concentrate C specialize D strengthen
　　29 A bonus B pack c force D band
　　30 A way B path C road D track