I have never attended a large company’s board meeting in my life, but I feel certain that the discussion often takes the following lines. The __1__ of producing a new—for example—toothpaste would make 8 Op the decent price for it, so we will market it at £l. 20. It is not a bad toothpaste (not specially good either, but not bad) , and as people like to try new things it will sell well to start with; but the __2__ of novelty soon fades, so sales will __3__ . When that starts to happen we will reduce the price to £l. 15. And we will turn it into a bargain by printing 5p OFF all over it, whereupon people will rush to buy it even though it still costs about forty-three percent more than its __4 __price.
Sometimes it is not 5p OFF but lp OFF. What a shame to advertise lp OFF your soap or washing powder or dog food or whatever. Even the poorest old-age pensioner ought to regard this as an insult, but he doesn’t. A bargain must not be __5__ To be offered a "gift" of one penny is like being invited to dinner and offered one single pea (tastily cooked), and nothing else. Even if it represented a __6__ reduction it would be an insult. Still, people say, one has to have washing powder (or whatever) and one might as well buy it a penny cheaper. When I was a boy in Hungary a man was __7__ of murdering some¬one for the sake of one pengo, the equivalent of a shilling, and pleaded__8__ The judge shouted __9__ : "To kill a man for a shilling! What can you say in your __10__ ?" The murderer replied: "A shilling here. . . a shilling there. . . " And that’s what today’s shopper says, too: "A penny here... a penny there. . . "

A. missed B. defense C. real D. cost
E. anxiously F. attraction G. fair H. expense
I. fall J. angrily K. dismissed L. accused
M. guilty N. faulty O. security

Key:1. D 2. F 3. I 4. G 5. A 6. C 7. L 8. M 9. J