Yllana Bay View College, Inc.
“The Builder of Future Leaders”
Enerio Street, Balangasan District, Pagadian City
Contact Number: (062) 2154176 / Email Address:
[email protected] 2nd PERIODICAL EXAMINATION IN
APPLIED ECONOMICS
Name: _____________________________________________________ Grade & Block: _________________
Subject Teacher: ____________________________________________ Score: ________________
Directions: Read each question carefully. Follow the given instructions for each type of test and write your answers in this
test paper. AVOID ERASURES (Once you’ve made the decision to choose that answer, stop expecting for second
chances) ERASURES means WRONG (Make sure it’s final before you’ll regret it after).
A. IDENTIFICATION. (1pt each) Write your answer on the space provided before the number.
_________________1. It is a division of economics that is concerned with the overall performance of the
entire economy.
_________________2. the process of setting prices of goods.
_________________3. It refers to the value of the best foregone alternative.
_________________4. It is the chief financial center of Southeast Asia.
_________________5. Decisions are based on traditions and practices upheld over the years and passed on
from generation to generation.
_________________6. A type of scarcity that is when a good is scarce compared to its demand.
_________________7. He is the first to use the phrase “applied economics” to designate the application
economic theory to the interpretation and explanation of particular economic phenomena.
_________________8. This is the most democratic form of economic system.
_________________9. A man-made resources used in the production of goods and services which includes
machineries and equipment.
_________________10. It is a main problem of the Philippine Economy despite improvements reported by the
National Statistics Office.
_________________11. It is the study of society and how people behave and influence the world around them.
_________________12. s an interaction between buyers and sellers of trading or exchange. It is where
consumer buys and the seller sells.
_________________13. He is the longest-serving prime minister in world history.
_________________14. A type of scarcity that is when supply is limited.
_________________15. It is another basic economic problem that can be connected to the issue of scarcity.
_________________16. Refers to soil and natural resources found in nature and are not man-made.
_________________17. During in his term, the Philippine economy has grown significantly.
_________________18. It is the most common type of market because it is where we buy consumers goods.
_________________19. It is the willingness of a consumer to buy a commodity at a given price.
_________________20. It is an effect that is felt when a change in the price of a good changes demand due to
alternative consumption of substitute goods.
_________________21. It refers to the quantity of goods that a seller is willing to offer for sale.
_________________22. It is the chief financial center of Southeast Asia.
_________________23. This is generally the simplest way to set up business.
_________________24. It is an analytical framework that can help a company meet its challenges and identify
new markets.
________________25. The number and capability of competitors in the market will also impact on the
attractiveness of the market.
________________26. Selling locally made products outside the country means –
________________27. A type of partnership that all owners share management of the business and each is
personally responsible for and must assume the consequences of the actions of the other partners.
________________28. An analytical tool that can be used to assess a business
________________29. Those who work for less than 40 hours are called –
________________30. It is defined as building up the capital stock for more future production and
consumption.
B. PROBLEM SOLVING. Using the following demand and supply function, solve for the demand and supple
schedule of consumer Rica Rose D. Pagasian given the following prices for the Rejuvenating Set: Show your
Solution (2pts. Each)
Qd = 60 – P/2 Qs = 10 + 5P
Prices
₱10
12
14
16
18
20
22
24
26
28
30
32
34
36
38
C. CROSSWORD
D. WORD JUMBLE. Direction – jumble the words to find the correct answer. (2 points each)
E. ESSAY (5points each)
1. On your own simple ways, how would you help the economy of our country?
2. What did you learn from this subject? Please elaborate.
Prepared by: Approved by:
Ann Margaret A. Dela Fuente Rose Deanna S. Diaz
Subject Teacher Principal
