Diversification can reduce a firm’s exposure to poor performance in a particular market.（）

A.variety

B.change

C.diversification

D.diversity

资产组合多样化（portfolio diversification) 名词解释

A．A vertically integrated company with five divisions that pursues full integration

B．A company with five divisions that pursues related diversification based on economies of scope

C．A company with five divisions that pursues related diversification based on transferring competencies

D．A company with five divisions that pursues unrelated diversification based on acquisitions and restructuring

E．A company with twenty divisions that pursues taper integration

Portfolio theory as described by Markowitz is most concerned with______.

A．the effect of diversification on portfolio risk

B．the elimination of systematic risk

C．active portfolio management to enhance return

D．the identification of unsystematic risk

告中数字的增加而同样快速地增加。假设一个巴西人买了一份美国国际权益基金，该基金将其客户的资金投入巴西的股市。那么巴西与美国的总的外国资产与负债会有什么变化？巴西与美国的国际多样化会发生什么变化？

In interpreting ratios such as those in Table 21-1，one must be cautions about drawing the conclusion that diversification is rising as rapidly as the numbers that are reported rise. Suppose a Brazilian buys a United States international equity fund， which places its clients' money in Brazil's stock market. What happens to Brazilian and U.S. gross foreign assets and liabilities？ What happens to Brazilian and U.S. international diversification？

A.市场渗透战略（market-peter traitor strategy）

B.市场开发战略（market development strategy）

C.产品开发战略（product development strategy）

D.多样化战略（diversification strategy）

打车难已经成为大城市人们生活中较为普遍的问题。城市人口规模的扩大，人类社会活动的不断多元(diversification)化都增加了对出租车的需求。随着城市交通拥堵状况不断加剧，为避免堵车影响收人，上下班高峰时段很多司机不愿意跑拥堵路段和主城区，导致市民在一些交通枢纽、商业中心、医院附近很难打到出租车。城市建设影响了出租车的使用效率。出租车行业不规范，拒载行为屡屡发生，这也是导致打车难的人为因素。

请将上面这段话翻译成英文

听力原文： It's no secret that throughout history common stock has outperformed most financial instruments. If an investor plans to have an investment for a long period of time, then their portfolio should be comprised mostly of stocks ; however, investors who don't have this kind of time should diversify their portfolios. For this reason, the concept of "asset allocation" was developed. Asset allocation is an investment portfolio technique that aims to balance risk and create diversification by dividing assets among major categories. The underlying principle of asset allocation is that the older a person gets, the less risk he or she should face. After you retire you may have to depend on your savings as your only source of income.

28. Throughout history, what kind of stock has outperformed most financial instruments？

29.What is the purpose of asset allocation？

30.What is the principle underlying the concept of asset allocation？

(28)

A．preferred stock

B．common stock

C．concept stock

D．cynical stock