Republic of the Philippines

Department of Education
Region X
DIVISION OF MISAMIS OCCIDENTAL D EPA R TM EN T O F E D U C A T IO N
CONCEPCION NATIONAL HIGH SCHOOL
Concepcion, Misamis Occidental
email address: concepcion_nhs@yahoo.com
FINAL
NAME: ______________________________________SUBJECT: APPLIED ECONOMICS

CHOOSE the answer inside the BOX.

Social Science Economics Field of accountancy Finance Marketing Management
Cost Benefits Marginal Benefits Marginal Cost
Explicit Cost Implicit Cost Explicit Benefits Implicit Benefits
Social Benefits Social Cost Future Benefits and Future Cost Poverty
Absolute Poverty Poverty Incidence Present Benefits and Present Cost Lorenz Curve
Poverty Threshold Relative Poverty Gini Coefficient Internal Migration
Price floor Market Power Perfect Competition Monopoly Disequilibrium
Perfect Equality Shift in supply curve Shift in demand curve Price Oligopoly
Price Ceiling Monopolistic Competition Technology Transport Condition Income
Natural Condition Equilibrium Price Supply Curve Market Expectation
Demand Curve Forest Degradation Public- Private partnership Knowledge Capital

1. Are easily recognized since they are expressed in monetary term and involved actual
Financial outlay.
2. Is the change in the opportunity cost that arises when the quantity produced in incremented
By one unit that is the cost of producing one more unit of a good.
3. Is the incremental increase in the benefits to a consumer caused by the consumption of
One additional unit of good or services.
4. Can be expressed in terms of surplus, net satisfaction, depending on the decision maker.
5. Can be expressed in term of money, time, resources and other goods being sacrifice.
6. The optimal combination of human and physical resources to be use in production will
Require understanding of benefit and cost expressed in term of factor productivity.
7. Understanding the behavior of consumer can be useful to firms in expanding their market
Market share.
8. Deals with the analysis on how member of a social interact with one another on the
Creation and utilization of wealth.
9. The information generated in the recording analysis of transaction and the assets of any
establishment can be useful in making business decision pertaining to wealth utilization.
10. The formation of excess fund for investment purposes can be understood through the
Concept of savings which is rooted on the opportunity cost of present consumption.
11. It is more difficult since the decision maker does not have to incurred any monetary
Expense during his action.
12. Can be measured in monetary term or level of satisfaction or utility to the decision maker.
13. Not aware of more benefits, and the level of awareness on the benefits and cost of his
Decision are more pronounced.
14. Are spillover effect of individual decision that put a burden on the community at large.
15. Are spillover effect of individual decision that the entire community may enjoy.
____________16. Can reduce the labor force in sending regions which can exacerbate their already
Sluggish economic performance.
____________17. Is a measure of income inequality derived from Lorenz Curve.
____________18. Refers to the structure on how the national Income is being distributed among household
In an economy.
____________19. Shows the share of the various household group on the total national income.
____________20. Is the proportion of household in the country with family income lower than poverty line.
____________21. Is the income needed to purchase these minimum nutritional requirements and other basic
Necessities for daily survival.
____________22. Is the lack of income to buy the basic food and necessities for subsistence living.
____________23. Is a restricting condition experienced by millions of families that prevent theme in
Attaining the minimum level of consumption for subsistence living.
____________24. Are too distant in time to affect the awareness of the decision maker.
____________25. Are explicit to the individual decision maker as his level of awareness is dictated by the
proximity these benefit and cost in term of time.
____________26. Is formed through heavy investment in higher education, science and technology.
____________27. An option of the government that allow the private sector to engage in the construction
Of management of infrastructure project.
____________28. Is one of the causes of increasing floods and drought in the country.
____________29. The first major actor in a market is the consumer whose primary objective is to purchase
A commodity because it can give him/her benefits.
____________30. It is willingness and capacity of a consumer to buy a commodity at alternative price.
____________31. The prospect on what is going to happen to the price can influence the demand for the
Commodity.
____________32.The size and characteristic of the market can also influence the demand for commodity.
____________33. Change in quantity demand resulting from the change in the price of commodity.
____________34. The record major actor in a market is the supplies whose primary purpose in selling is to
Minimize profit,
____________35. Is an agreed price, it is also a stable price since there’s no pressure from buyer & seller.
____________36. Implies that climatic condition directly affect the supply of a certain product.
____________37. Refer to the fact that better transport facilities the supply of the product.
____________38. Refers to one important determinant of supply.
____________39. The price cannot go higher the mandated price.
____________41.Is defined as the ability of any actor or group of factor in the market to significantly
Influence the price in the market and the quantity to be produced or sold.
____________42. Is describe as a market structure where no single seller or single buyer has power to
Determine the price.
____________43. Is a market structure characterized by a single seller in the market
____________44. Is a market structure characterized by few sellers producing similar and differentiated
Product.
____________45. This market structure has the element of both competitive and monopolistic market.
____________46. Refers to the main factor that influences the supply of a product to a greater extend.
____________47. Change in demand curve caused by any of the other factor beside the commodity.
____________48. Is cause by changes in the other factors affecting supply except the price of commodity.
____________49. Is indicated by the value of 0.
____________50. Disagreements among buyers and sellers on the price and quantity.

ESSAY
1. Samsung announced they will be having a sale on there phones. Explain what will happen
To the market of Samsung phone?
2. What is the difference between explicit benefit and Implicit benefits?

GOD BLESS YOU…

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