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Applied Economics Quiz 69 (30 MCQs)

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1. What do you call a seller or company that has the power to set the price of certainproducts?
2. TRUE OR FALSE:Barangay Micro Business Enterprise Act encourages the formation and growth of micro enterprises by granting incentives and other benefits.
3. What is the primary focus of global economics?
4. When the GDP rises, it means the economy is
5. Which of the following is the main objective for Applied Economics-Week 7
6. These are factors that affect the supply curve, except one:
7. States that, holding nonprice factors constant, the quantity of a good or service that a supplier is willing to offer on the market relates directly to price.
8. Farm products such as wheat and corn
9. Which best of the following best describes economics as a social and an applied science?
10. It is also termed as "human capital":
11. It is the rising of local prices.
12. The type of government, the stability and strength of the government, and the good leadership are factors that can be an advantage to a business.
13. TRUE OR FALSE:The downward slope of the demand curve illustrates the law of supply-the inverse relationship between prices and quantity demanded.
14. Goods made by people to be used specifically to produce goods and services:Tools, office equipment, roads, factories, etc.
15. What is Monopolistic Competition
16. What is the Example of Monopolistic Competition
17. Calculated by taking into account the monetary worth of a nation's goods and services after a certain period of time, usually one year
18. A government-set maximum price that can be charged for a good or service
19. Because of the presence of scarcity there is a need for man to make ;
20. It is also termed as human resource:
21. Why is it essential to study the Core Principles of Economics?
22. ..... are the producing units in the economy.
23. "ALL OTHER THINGS HELD CONSTANT" is an economic model that illustrates the theory:
24. Trade offs and opportunity costs are found everywhere in our daily life.
25. Temporary shortage of paracetamol brands in the market.
26. The society would always consider the immediate beneficiary of the goods.
27. It is the study of the decisions made by people and business regarding the allocation of resources, and prices at which they trade goods and services.
28. Is where the workers offer services and look for jobs, and where employers look for workers to hire
29. Below are the examples of a manufacturing business, EXCEPT.
30. It means that more foreign currencies are being sold for pesos that those being bought with pesos.
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