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Applied Economics Quiz 10 (30 MCQs)

Quiz Instructions

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1. Retail specialty clothing stores
2. 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?
3. Marginal Product is the change in the total product as a result of changing the variable factor of production by 1 unit.
4. Lee Kuan Yew was attributed to be the first to use the phrase "APPLIED ECONOMICS.
5. Low-income full-time employees can also be included in the unemployed statistics.
6. Like strengths, these are internal characteristics of firms or industry but unlike strengths theymitigate the profitability of firms and industry.
7. The economic system of communist countries is most closely related to which of the following:
8. Assume Samantha likes hot dogs and hamburgers equally, and the price of hamburgers (a normal good) declines. She will most likely purchase more hamburgers; this is
9. It is concerned with the behavior of individual entities such as the consumer, the producer and the resource owner.
10. He attributed to be the first to use the phrase "applied economics" to designate the application of economic theory to the interpretation and explanation of particular economic phenomena.
11. The capacity of our economy to maintain its productive capacity and pursue its developmnet goals will be constrained by the prudent use of natural resources for sustainable development.
12. The processing of raw materials into finished products falls under the category of-
13. It is a business activity associated with the sale of goods to the ultimatecustomer.
14. Identify the correct determinant of supply.Example:If the government requires factories to reduce pollution, complying will initially increase costs of production in the market and reduce supply.
15. Which option below lists the internal factors of a SWOT analysis?
16. This is marketing of goods and services to different economic outlets for allocations to individual consumers.
17. New businesses mean employment opportunities for the Filipinos.
18. Jennie is looking for a skin care product that offers a Korean glass skin effect in tiktok shop. However, when she found the product and click on the yellow basket, it was already sold out. Jennie tried to look into other tiktok shop but it was also sold out. What happened in this situation?
19. It refer to the different ways of managing a nation's available resources to answer the three economic question
20. The process of distributing the scarce resources to answer the unlimmited human wants is
21. This deals with the big picture, the allocation of resources on the aggregate level.
22. The direction of the slope in the law of supply is going
23. It is a condition when the supply of a good, service, or resource is not enough to meet the demand.
24. What sector is electricity, gas, and water under?
25. ..... refers to all the things that are used in producing a commodity.
26. A monopoly is a market with
27. It is a product or service a consumer sees as the same or similar to another product.
28. A SWOT analysis is used to analyze an organization current .....
29. It is a condition in which there is an insufficient resources to satisfy all the needs and wants of a population.
30. True or False:The average Filipino e-commerce shopper spent USD 18 on online consumer goods purchases in 2018.
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