Risk taking
Read Risk taking and check the IELTS Reading answers. We run risks. Most of the time we ignore them; sometimes we stop and decide how to deal with them. That's life. Risks arise in sports, in business, in personal relationships; they are present in the laboratory, in political calculations, everywh…
Passage preview
We run risks. Most of the time we ignore them; sometimes we stop and decide how to deal with them. That's life. Risks arise in sports, in business, in personal relationships; they are present in the laboratory, in political calculations, everywhere. Acting individually, we often prefer to gain some benefit by accepting some danger. Acting collectively, we make similar trade-offs.
Vocabulary from this passage
11 words worth learning before you sit the test, each with the sentence it appears in.
- catastrophic adjective
Involving or causing sudden great damage, suffering, or complete destruction
The failure of the dam had catastrophic consequences for the villages located downstream.
- ecological decay noun
The gradual deterioration of environmental systems, biodiversity, and natural habitats due to destructive pressures
Industrial runoff has accelerated the ecological decay of the river basin over the last decade.
- irrational adjective
Not logical or reasonable; driven by emotional states or ungrounded fears rather than facts
An irrational fear of flying prevents many individuals from traveling internationally.
- minuscule adjective
Extremely small; tiny or insignificant in size, amount, or degree
The difference in chemical composition between the two samples was minuscule.
- oblivious adjective
Not aware of or concerned with what is happening around oneself
The driver remained oblivious to the warning signals flashing on the dashboard.
- perception noun
The way in which something is regarded, understood, or interpreted by the mind
Public perception of nuclear energy shifted significantly following the legislative reforms.
- rational risk assessment noun
A systematic and logical evaluation of potential hazards, likelihoods, and consequences based on objective data
The corporate board conducted a rational risk assessment before entering the volatile foreign market.
- status quo noun
The existing state of affairs, especially regarding social, political, or organizational matters
Conservative institutions often seek to maintain the status quo rather than implement radical changes.
- take precedence verb
To be considered more important than something else; to prioritize one matter over another
Safety regulations must always take precedence over speed during manufacturing operations.
- temperament noun
A person's or animal's nature, especially as it permanently affects their behavior and psychological responses
Her calm temperament made her exceptionally well-suited for managing high-stress emergency environments.
- transformed verb
Make a thorough or dramatic change in the form, appearance, or character of something
The invention of the steam engine transformed agrarian economies into industrial powerhouses.
Answers with explanations
- 27. E
K. C. Cole highlights that people are willing to take risks to **avoid a loss** but risk very little just for a **possible gain**. Therefore, avoiding a loss is more important to them than **achieving a gain** (Option E).
- 28. F
Andrew S. Grove points out the danger when executives disregard (ignore) **change in the outside world**. This maps to Option F: **changes occurring externally**.
- 29. D
Reid J. Lifset discusses newly developed techniques (recent findings) to clarify the decisions with the **highest pay-offs** (most effective solutions). This matches Option D: **recent findings on the most effective solutions to problems**.
- 30. A
The writer criticizes government leaders for focusing too much on the **present** and ignoring actions that yield **gains in the future**. Thus, they need to focus more on Option A: **planning for the future**.
- 31. B
Paragraph B outlines how the **research community** uses **science, technology or mathematics** to assess and clarify risks, which are clear examples of **areas of study**.
- 32. F
Paragraph F discusses 'leverage points' or critical decisions that yield the **highest pay-offs for the environment**. This matches the description of **key actions that might benefit the world**.
- 33. C
Paragraph C provides examples of **statistical predictions** (60% chance of rain, minuscule likelihood of illness) and notes that **most people** (the majority) respond to them correctly in the **same way**.
- 34. A
Paragraph A lists multiple different fields such as sports, business, and personal relationships, demonstrating the **variety of contexts** where risk is present.
- 35. B
Paragraph B explicitly mentions **smoking** as an example of a known **habit** that has clear evidence of being **very risky**.
- 36. E
Paragraph E refers to the sudden influx of **low-cost memory chips** (a **market force**) that transformed the business environment and forced Intel into a difficult decision to **change**.
- 37. H
In Paragraph H, the writer openly states their own **attitude towards risk**, admitting to being an **optimist** but acknowledging it might not help them handle it.
- 38. D
Paragraph D explains that people often avoid pursuing an exciting new job (**career change**) simply because they want to maintain the comfortable status quo.
- 39. C
Paragraph C describes how some individuals **over-react** to risk information, behaving **fearfully but irrationally** by going to extremes like avoiding all human contact.
- 40. B
In the final paragraph, the writer concludes that the scientific community (**experts**) has a responsibility to **portray with honesty** the level of risk to society. This makes Option B the correct choice.