full transcript
"From the Ted Talk by Eleni Gabre-Madhin: A commodities exchange for Ethiopia"

Unscramble the Blue Letters

Like its agriculture, Africa's markets are hhlgiy under-capitalized and ieifnfenict. We know from our work around the continent that transaction costs of reaching the market, and the risks of tscnaanritg in rural, agriculture markets, are extremely high. In fact, only one third of agricultural output produced in Africa even reaches the mraekt. Africa's markets are weak not only because of weak icrtatsunufrre in terms of roads and telecommunications, but also because of the virtual absence of necessary market institutions, such as market information, grades and standards, and rlaleibe ways to connect buyers and sellers. Because of this, comtomdiy buyers and sellers typically tcrasnat in small ciecrls, in narrow networks of people they know and trust. And because of that, as garin changes hands — and I've measured that it changes hands four, five times in its trajectory from the farmer to the consumer — every time it changes hands — and I've seen this all over rural Africa — it also changes sacks.

Open Cloze

Like its agriculture, Africa's markets are ______ under-capitalized and ___________. We know from our work around the continent that transaction costs of reaching the market, and the risks of ___________ in rural, agriculture markets, are extremely high. In fact, only one third of agricultural output produced in Africa even reaches the ______. Africa's markets are weak not only because of weak ______________ in terms of roads and telecommunications, but also because of the virtual absence of necessary market institutions, such as market information, grades and standards, and ________ ways to connect buyers and sellers. Because of this, _________ buyers and sellers typically ________ in small _______, in narrow networks of people they know and trust. And because of that, as _____ changes hands — and I've measured that it changes hands four, five times in its trajectory from the farmer to the consumer — every time it changes hands — and I've seen this all over rural Africa — it also changes sacks.

Solution

  1. inefficient
  2. market
  3. commodity
  4. circles
  5. grain
  6. highly
  7. infrastructure
  8. transacting
  9. reliable
  10. transact

Original Text

Like its agriculture, Africa's markets are highly under-capitalized and inefficient. We know from our work around the continent that transaction costs of reaching the market, and the risks of transacting in rural, agriculture markets, are extremely high. In fact, only one third of agricultural output produced in Africa even reaches the market. Africa's markets are weak not only because of weak infrastructure in terms of roads and telecommunications, but also because of the virtual absence of necessary market institutions, such as market information, grades and standards, and reliable ways to connect buyers and sellers. Because of this, commodity buyers and sellers typically transact in small circles, in narrow networks of people they know and trust. And because of that, as grain changes hands — and I've measured that it changes hands four, five times in its trajectory from the farmer to the consumer — every time it changes hands — and I've seen this all over rural Africa — it also changes sacks.

ngrams of length 2

collocation frequency
commodity exchange 8
small farmers 6
rural africa 4
market information 4
africa today 3
chicago board 3
legal framework 3

Important Words

  1. absence
  2. africa
  3. agricultural
  4. agriculture
  5. buyers
  6. circles
  7. commodity
  8. connect
  9. consumer
  10. continent
  11. costs
  12. extremely
  13. fact
  14. farmer
  15. grades
  16. grain
  17. hands
  18. high
  19. highly
  20. inefficient
  21. information
  22. infrastructure
  23. institutions
  24. market
  25. markets
  26. measured
  27. narrow
  28. networks
  29. output
  30. people
  31. produced
  32. reaches
  33. reaching
  34. reliable
  35. risks
  36. roads
  37. rural
  38. sacks
  39. sellers
  40. small
  41. standards
  42. telecommunications
  43. terms
  44. time
  45. times
  46. trajectory
  47. transact
  48. transacting
  49. transaction
  50. trust
  51. typically
  52. virtual
  53. ways
  54. weak
  55. work