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Applied Economics Quiz 14 (20 MCQs)

Quiz Instructions

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1. Whose the biggest sector of the three?
2. The cost of time and information needed to carry out market exchange.
3. The total cost incurred by producing each additional unit of product.
4. Prices of Toyota vehicles are predicted to go up in December.
5. Corporations are in business for what?
6. The cost required for something
7. Products of nature, qualities of individuals and man-made things that can provide satisfaction or value currently or in the future.
8. What is the desire to own something and the ability to pay for it called?
9. What is Economics primarily concerned with?
10. The booming population growth in the Philippines is another basic economicproblem that can be linked to the issue of scarcity.
11. If the price of gasoline will increase the next day, the demend for it will .....
12. Employment opportunities for the Filipinos
13. Philippine inflation rate rose to 8.1% in December 2022.
14. .... refers to the type of government, the stability and strength of the government and good leadership factors than can be an advantage to a business.
15. Retail specialty clothing stores
16. The company decides to open its market to foreign countries where there is a need for your product. How does this information fit into the SWOT analysis?
17. Marginal Product is the change in the total product as a result of changing the variable factor of production by 1 unit.
18. Lee Kuan Yew was attributed to be the first to use the phrase "APPLIED ECONOMICS.
19. Low-income full-time employees can also be included in the unemployed statistics.
20. Like strengths, these are internal characteristics of firms or industry but unlike strengths theymitigate the profitability of firms and industry.
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