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Applied Economics Quiz 19 (20 MCQs)

Quiz Instructions

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1. When the amount that buyers are willing to buy is not the same as the amount the producers are willing to sell at a given price, is an example of .....
2. TRUE OR FALSE:Many stores offer a wider array of products online than they carry in their brick-and-mortar counterparts.
3. If there is scarcity in public transportation, what should the learners do?
4. This the brain of the economy
5. New business means employment opportunities for Filipinos
6. A market situation wherein the firms cooperate with each other in determining products, outputs or both
7. The capacity for innovation, investment and expansion in new markets, products and techniques.
8. Bridges are example of:
9. Corporate Social Responsibility
10. Households sell goods and services to Firms
11. It is the value which the existence of land and natural resources adds to the goods and services made because these where produced on the land itself.
12. Teachers produce:
13. San Miguel, Jollibee, Procter and Gamble are examples of what business organization?
14. Corporation normally can exist for a life of 50 years.
15. A market economy is very different from a command economic system or a traditional system. Which of the following is found in a market economy?
16. If the government decides on what goods should be produced, what economic system is this?
17. It reflects the desire of the consumer for a commodity.
18. What refers to the use of economic resources to create goods and services that will be used to satisfy human wants?
19. The highest point following an expansion is called the .....
20. The supply of nickel, gold and other types of minerals that are usually difficult and the mining process is long belongs to
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