It is wise to … with what one has rather than go borrowing.

1. Analyze the question The sentence is: "It is wise to __ with what one has rather than go borrowing." We need a phrasal verb that goes with the preposition "with" and means to manage using what is available.

2. Explain the concept The idiom "make do with" means to manage or get by with what you have, even if it isn't ideal.

• We had no sugar, so we made do with honey.

3. Check each option

• A. make out: means to see or understand something, or to pretend. I can't make out what he wrote. It doesn't fit "with what one has."
• B. make up: means to invent, to reconcile, or to compose. They made up after the quarrel. It does not mean to manage with what you have.
• C. make do: means to cope with what is available. It is wise to make do with what one has. This fits both the meaning and the grammar.
• D. make over: means to transfer ownership or to renovate. It doesn't fit.

4. Answer The correct option is C. make do.

5. Exam tip Remember the pairing "make do WITH." If you see "with what one has" or "with little," think make do. Learn other common "make" phrasal verbs too: make up for (compensate), make out (understand), make off with (steal).