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31 Mar 2022, 21:30
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Question 1
D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
90% (02:49) correct
10%
(02:20) wrong
based on 239
sessions
History
Date
Time
Result
Not Attempted Yet
Question 2
E
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
56% (01:04) correct 44%
(00:45) wrong
based on 240
sessions
History
Date
Time
Result
Not Attempted Yet
Question 3
C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
87% (00:44) correct 13%
(00:47) wrong
based on 231
sessions
History
Date
Time
Result
Not Attempted Yet
Jose Maria, boss of Telefonica, recently presented at a Spanish conference the list of the world’s fifteen most innovative tech companies, and none of these was a European company. Not just that, merely eight out of the world’s two hundred largest digital firms were European. Moreover, data from GP Bullhound shows that the combined market value of two of the most promising European tech firms – Spotify and Zalando - is around $42 billion while Alibaba from China has a market cap of approximately $480 billion, just a little less than that of Facebook, which is valued around $550 billion. The message is clear – Europe is lagging far behind in technology.
The cradle of the industrial revolution has been lagging so far behind in the digital world for numerous reasons. The lack of standardization and the varying rules and regulations across the continent that helped Europe during the industrial revolution are proving to be a disadvantage now: long-term capital investment in tech firms is a distant dream in Europe. Moreover, the practices from the 19th-century industrial revolutions are acting like roadblocks, limiting the propensity of European startups to take risks or to think big and consequently limiting the funding these startups are likely to receive. In fact, the biggest Asian tech firms created since 2000 have raised an average of approximately $7.3 billion, while the corresponding average for European startups has been a mere $1.6 billion. Another significant disadvantage faced by European tech firms is the unavailability of skilled labor. The European education system has not yet adapted to the skill requirements of the European tech firms. To put the situation in perspective, almost half of the European population is not digitally skilled, possibly leading
to a shortfall of 800,000 jobs by 2020.
A lot needs to be done to bring back the lost glory of this continent. We can start with the standardization of processes, and with doing away the existing rules and regulations that do not provide enough motivation to the budding entrepreneurs in Europe and that thereby give an indirect advantage to the American and Asian competitors. Another crucial step that can be undertaken to address the situation is the skill development in the local labor through partnerships such as the Grand Coalition for Digital Jobs, aimed at scaling up digital learning. Moreover, creation of a single digital market will provide a pool of skilled labor, data, and capital – immensely helping the startup environment in Europe. However, all such changes will be possible only if we recognize the requirement and impact of these measures, and work towards them with the intent to bring back the former status of this continent. Otherwise, such recommendations will reap no fruits.
The cradle of the industrial revolution has been lagging so far behind in the digital world for numerous reasons. The lack of standardization and the varying rules and regulations across the continent that helped Europe during the industrial revolution are proving to be a disadvantage now: long-term capital investment in tech firms is a distant dream in Europe. Moreover, the practices from the 19th-century industrial revolutions are acting like roadblocks, limiting the propensity of European startups to take risks or to think big and consequently limiting the funding these startups are likely to receive. In fact, the biggest Asian tech firms created since 2000 have raised an average of approximately $7.3 billion, while the corresponding average for European startups has been a mere $1.6 billion. Another significant disadvantage faced by European tech firms is the unavailability of skilled labor. The European education system has not yet adapted to the skill requirements of the European tech firms. To put the situation in perspective, almost half of the European population is not digitally skilled, possibly leading
to a shortfall of 800,000 jobs by 2020.
A lot needs to be done to bring back the lost glory of this continent. We can start with the standardization of processes, and with doing away the existing rules and regulations that do not provide enough motivation to the budding entrepreneurs in Europe and that thereby give an indirect advantage to the American and Asian competitors. Another crucial step that can be undertaken to address the situation is the skill development in the local labor through partnerships such as the Grand Coalition for Digital Jobs, aimed at scaling up digital learning. Moreover, creation of a single digital market will provide a pool of skilled labor, data, and capital – immensely helping the startup environment in Europe. However, all such changes will be possible only if we recognize the requirement and impact of these measures, and work towards them with the intent to bring back the former status of this continent. Otherwise, such recommendations will reap no fruits.
1. Which of the following cannot be inferred from the passage?
A. Standardization of the processes can help Europe overcome the present situation.
B. It will be difficult for Europe to excel in technology without skilled labor.
C. The data from various sources indicates that Europe is lagging in technology.
D. Most of the Europeans are protective of their data, thereby restricting Europe’s technological competitiveness.
E. The situations that favored the industrial revolution are currently going against the developments required for tech companies in Europe
A. Standardization of the processes can help Europe overcome the present situation.
B. It will be difficult for Europe to excel in technology without skilled labor.
C. The data from various sources indicates that Europe is lagging in technology.
D. Most of the Europeans are protective of their data, thereby restricting Europe’s technological competitiveness.
E. The situations that favored the industrial revolution are currently going against the developments required for tech companies in Europe
2. As per the passage, what is the impact of industrial revolution on the present situation of Europe?
A. It resulted in the standardization of rules and regulations across the continent which is proving to be a disadvantage now
B. It changed the education system of Europe because of which there is a lack of skilled labor now
C. It divided the continent based on regulations and languages
D. It made it dif}cult for the American and Asian competitors to compete with Europeans
E. It reduced the capacity of people to take risks and think big
A. It resulted in the standardization of rules and regulations across the continent which is proving to be a disadvantage now
B. It changed the education system of Europe because of which there is a lack of skilled labor now
C. It divided the continent based on regulations and languages
D. It made it dif}cult for the American and Asian competitors to compete with Europeans
E. It reduced the capacity of people to take risks and think big
3. What is the main point of the passage?
A. To describe the problems that resulted from the Industrial Revolution and the means to tackle the same
B. To describe how Europe can get back its lost glory
C. To discuss reasons that Europe is lagging in the digital field and suggest some changes
D. To explain why Europe lags in the field of technology
E. To mention the advancements that Europe made during the industrial revolution
A. To describe the problems that resulted from the Industrial Revolution and the means to tackle the same
B. To describe how Europe can get back its lost glory
C. To discuss reasons that Europe is lagging in the digital field and suggest some changes
D. To explain why Europe lags in the field of technology
E. To mention the advancements that Europe made during the industrial revolution
RC Butler 2022 - Practice Two RC Passages Everyday.
Passage # 133 Date: 01-Apr-2022
This question is a part of RC Butler 2022. Click here for Details
Passage # 133 Date: 01-Apr-2022
This question is a part of RC Butler 2022. Click here for Details
05 Jun 2022, 01:21
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Hi, can anyone explain why Q2's answer is D instead of A?
05 Jun 2022, 08:31
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ZahidPavel
Official Explanation
2. As per the passage, what is the impact of industrial revolution on the present situation of Europe?
Difficulty Level: 650
Explanation
(A) Opposite: Per the passage, there is a lack of standardized rules and regulations.
(B) Out of Scope: The passage does not talk about the impact of industrial revolution on the education stem of Europe.
-It merely states that the present education system is not adequate to meet the requirements of tech firms. Hence, we cannot say that it changed the education system of Europe.
(C) Out of Scope: No such information has been stated in the passage.
(D) Opposite: The practices from IR time have reduced the risk-taking capacity and hence the funding for startups, making it easier for the Asian and American firms to compete.
(E) Correct. The passage states that the practices from the 19th-century industrial revolution are acting like roadblocks, limiting the propensity of European startups to take risks or to think big.
Answer: E
Difficulty Level: 650
Explanation
(A) Opposite: Per the passage, there is a lack of standardized rules and regulations.
(B) Out of Scope: The passage does not talk about the impact of industrial revolution on the education stem of Europe.
-It merely states that the present education system is not adequate to meet the requirements of tech firms. Hence, we cannot say that it changed the education system of Europe.
(C) Out of Scope: No such information has been stated in the passage.
(D) Opposite: The practices from IR time have reduced the risk-taking capacity and hence the funding for startups, making it easier for the Asian and American firms to compete.
(E) Correct. The passage states that the practices from the 19th-century industrial revolution are acting like roadblocks, limiting the propensity of European startups to take risks or to think big.
Answer: E
