PTE Academic summarize written text practice test
PTE Academic summarize written text practice test.Read the passage below and summarize it using one sentence. Type your response in the comment section at the bottom of the screen. You have 10 minutes to finish this task. Your response will be judged on the quality of your writing and on how well your response presents the key points in the passage.
1.We argue that the role played by technology in boosting employment often goes overlooked because of its more conspicuous destructive effects. The stock of work in the economy is not fixed. The last 144 years demonstrate that when a machine replaces a human the result, paradoxically, is faster growth and, in time, rising employment. Indeed, one only need look at the UK’s employment figures, which have more than doubled since 1871, to see that technological change has coincided with the creation, not destruction, of work.
However, technological change does create policy challenges. If the pace of adoption of technology is accelerating, society will need to prepare for higher levels of technological unemployment. And the way in which change increasingly rewards high-level education and skills suggests that income inequality may yet widen. Rapid advances in technology mean that education, training and the distribution of income are likely to be central to the political debate for many years to come.
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2.The microfinance industry, especially in India, has been a strong enabler in including the financially under served and unserved in the formal financial ecosystem. The positive role played by this sector is evident from the awarding of universal banking and small finance bank licenses to the top MFIs in India. Over the past few years, the microfinance industry has seen strong growth with the introduction of institutional provisions like revision of RBI guidelines for NBFC-MFI operations, launch of MUDRA bank and small bank licenses. MFIs have consistently added value to customers’ livelihood through partnerships with various stakeholders like investors, banks, other financial institutions, credit bureaus, NGOs and other emerging agencies. However, the growth has also been accompanied by challenges such as higher cost of funds, increase in risks due to geographical concentration, increase in cash carrying costs, unavailability of quality technology solutions, rise in cases.
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