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hello please i need a summary for paragraph 2,4,and 5 as soon as possible

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ces.
5
A corollary of the theory of competitive
6
Some of these judgments are obvious, In
advantage is the principle that some things are
almost no case is it to a job-seeker's advantage
worth doing and others are worth trading for. In
to cut his or her own hair or sew clothes for the
fact, David Ricardo's first exposition of the theory
interview. However, the principle is helpful in less
(1817) involved the question of which product(s)
obvious cases as well. Should the job-seeker
Britain and Portugal should produce and which
compose his or her own resume? Most do, and
they should trade for-wine, cloth, both, or neither.
many of them do well enough that the time
Ricardo concluded that even if a country-he
spent in this writing has a low OC-that is, it is a
postulated Portugal-were more efficient at
sufficiently profitable use of time that they should
producing both, it made economic sense for it to
not pay someone else to write resumes for them.
concentrate on the product where its advantage
However, a job-seeker may recognize that resume
is greatest (wine, in Ricardo's example) and to
writing is not the sharpest of his or her skills.
buy the other product from elsewhere. A job-
It may be worth the person's time to trade out
seeker has to recognize that a full exploitation
that task-to hire one of the many professional
of comparative advantage in the search for
resume-writing companies-while concentrating
employment involves analogous judgments.
time and effort on some higher-return task, like
HOURS OF LABOR PER YEAR
researching the histories of prospective employers
or watching videos about how to behave in job
120
interviews.
110
100
90
80
70
Portugal
England
Commodity
Cloth
Wine
B. Reread and summarize Paragraphs 2, 4, and 5. Use the summarizing strategies you've learned. Note
the word limit for each.
. Summarize Paragraph 2 in no more than 55 words.
. Summarize Paragraph 4 in no more than 55 words.
. Summarize Paragraph 5 in no more than 40 words.
Go to MyEnglishLab to complete a vocabulary exercise and skill practice, and to join in collaborative activities.

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EXERCISE 5
A. The following is an excerpt from an article that applies economic principles to personal experiences
Read the excerpt.
5 A co
advanta
Comparative Advantage and Job-Hunting
worth do
fact, Da
1 The concept of comparative advantage is
of education or
TIP
(1817)
not just an abstraction. Nor is it applicable
training, an ability
Writing words down helps
Britain
only to entire national economies. A job-hunter
to do certain
you remember them, Create
they sh
tasks, prior work
vocabulary flashcards (using
Ricardo
would do well to recognize his or her personal
comparative advantages and use this recognition
in the field, and so
Index cards, an online flashcard
postula
on. The candidate
generator, or an app) or create
both to choose the best jobs to apply for and to
a vocabulary study list.
produci
concent
stand out among other job-seekers. The savvy
presents such
qualifications, and in return the prospective
is great
person looking for a job will look at the galaxy
buy the
of employment possibilities through the lens of
employer assigns a certain salary to the position
seeker
global economics.
(plus a package of other money-related benefits,
such as health insurance). But other factors
of comp
2 Perhaps the clearest focus provided by
employ
comparative advantage theory is on the
also figure into the calculus, such as location,
phenomenon of opportunity cost (OC]. If a job-
corporate culture, the character of one's fellow
hunter spends time applying for jobs that do not
workers, and innumerable other features of the
suit him or her very well, an OC is incurred. He
job. Without such nonmonetary enticements, the
120
or she cannot spend that time applying for more
position's fruitfulness factor would decrease, and
110
appropriate positions. The costs might not be
the OC of applying for it would increase.
measured in money (unless you assign a certain
Hours
10
The lessons of comparative advantage theory
dollar value to an applicant's time) but could be
extend beyond the realm of the job search. There
quantified in terms of some other unit you might
is also the matter of the worker's own comparative
invent to measure success or satisfaction, some
advantages in terms of skills, a calculus that looks
sort of "fruitfulness factor." Potential employment
very much like what economists do in figuring
that has a high fruitfulness factor, that is, a
a nation's comparative advantage. Imagine
strong chance of being offered to a candidate and
someone looking for web-development work in a
a strong chance of being accepted, is far better
job market where many applicants are competing
for a job-seeker to pursue than employment with
a low fruitfulness factor. Such a job would be
for every available position. Our web developer
unlikely to be offered or unlikely to be accepted,
s good at coding in Java and C++, and she has
two years of web-development experience. Not
B. Rerea
or both. So a candidate would incur higher OC
bad, but nearly every other job-seeker in that
the w
by spending time applying for low-fruitfulness
field can say the same. It is best for her to avoid
Su
positions rather than jobs that are better suited to
. Su
him or her.
competing for jobs based on those skills alone
3 Of course, in calling a position "better suited"
even though she may feel that she's better than
and assigning a fruitfulness factor, we have to
most competitors. By analyzing her comparative
Go to My
consider a number of attributes, most of which
advantages rather than absolute skills, she might
are only indirectly about money. Some relate to
recognize that she has other, less common talents
the likelihood that an offer will be made. Others
she wants to leverage, something like proficiency
relate to the likelihood that an offer will be
in Spanish or a sophisticated knowledge of film
accepted. The job-seeker's skills and experience
production. If there are employers that value
are the main criteria for appropriateness to the
those characteristics-and if there are, she is
stated requirements of the job-a given level
quite likely to enjoy working there-she stands
above the crowd.
For more at
36
ECONOMICS PART 1

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