Republic of the Philippines

Department of Education
Region III
CUYAPO NATIONAL HIGH SCHOOL
SENIOR HIGH SCHOOL DEPARTMENT
Bulala, Cuyapo, Nueva Ecija

FOURTH PERIODICAL TEST IN APPLIED ECONOMICS

S. Y. 2018 - 2019

Name: ___________________________________ Date: ______________

Section: __________________ Score: _____________

I. Directions: Read each statement carefully. Choose the letter of the correct answer and write it on the
space provided before the number.
______1. As a student you are exposed to it, especially in school like quiz bees, sports fests and other academic rivalry.
a. Competition b. market c. market structures d. perfect competition
______2. Implies an ideal situation for the buyers and sellers.
a. Competition b. market c. market structures d. perfect competition
______3. One or more of the assumptions of perfect competition will not be met.
a. Competition b. market c. imperfectly competitive d. perfect competition
______4. Always depends on how easy it is for consumers to substitute the products for those of other sellers.
a. Competition b. monopoly c. oligopoly d. monopolistic competition
______5. Degree of mobility of resources is one factor that is present in this place.
a. Market b. monopoly c. oligopoly d. monopolistic competition
______6. Degree of knowledge of economic agents regarding prices, costs, demand and ___________ conditions.
a. Market b. demand c. supply d. competition
______7. It may exist due to the existence of barriers, which may include economies of scale, reputation of the sellers, and
strategic and legal barriers such as the grant of patents/franchises, loyal following of customers, huge capital investments
and specialized input, and control of supply of raw materials by a few producers.
a. Oligopoly b. monopoly c. supply d. competition
______8. It takes the basic forms of machineries, equipment, and buildings and construction.
a. Oligopoly b. monopoly c. supply d. capital
______9. It is compulsory for us to pay this in able for the government to provide goods and services that empower and
enable individuals and institutions alike (e.g. schools, business corporation) to pursue their dreams.
a. Wages b. gross pay c. taxes d. net pay
______10. When price increases, the quantity demanded for the good decreases.
a. Ceteris Paribus b. demand c. income d. taste
______11. A ___________ is just a small portion of an industry that its main objective is to earn profit for the owners.
a. Business b. corporation c. resources d. household
_______12. Generally, the simplest way to set up a business and owned by a single individual who is singly responsible for
running the business and accountable for all the debts and obligations related to the business.
a. Partnership b. corporation c. resources d. sole proprietorship
_______13. All owners share the same management of the business and each is personally responsible for and must assume
the consequences of the actions of the other partners.
a. General partnership b. cooperative c. limited partnership d. corporation
_______14. Some members are general partners who control and manage the business and may be entitled to a greater share
of the profit while other partners are limited and contribute only capital.
a. Limited partnership b. cooperative c. partnership d. corporation
_______15. Totals assets are from P1,500,001 to P15,000,000.
a. Medium business b. Small business c. large scale business d. corporation
 _______16. No shareholder is personally liable for the debts, obligations, or acts of the corporation.
a. Cooperative b. Partnership c. Limited partnership d. Corporation
_______17. A business that has a total asset from P15, 000,001 to P60, 000,000.
a. Medium business b. Small business c. large scale business d. corporation
_______18. An entity organized by people with similar needs to provides themselves with goods or services or to jointly use
available resources to improve their income.
a. Cooperative b. corporation c. business d. Sole proprietorship
_______19. It includes government laws and regulations that apply to the business.
a. Industry b. Buyers c. Regulatory Environment d. Geographic Area
_______20. Any business with assets in excess of P60,000,000 is considered _________.
a. Medium business b. Small business c. large scale business d. corporation
______21. One needs to identify ___________________specific to the chosen business.
a. SWOT b. Consumers c. Asset d. Regulatory Environment
______22. This is the key factor that must be considered in analyzing the industry.
a. Environment b. Geographic Area c. Price d. Current Trends
_______23. Normally can exist for a life of 50 years and renewable for another 50 years.
a. Legal Entity b. Ownership c. Liabilities d. Corporation
_______24. Identify the area whether local, regional, national or international.
a. Product b. Industry c. Geographic area d. Buyers
_______ 25. One of the external forces of it was the demographic characteristics of the target market such as the age, gender,
and the culture of the customers.
a. SWOT b. Consumers c. Asset d. Regulatory Environment
_______26. If a supplier can enjoy the power to drive prices up, it is also possible for a buyer to drive prices down.
a. Supplier Power b. Buyer Power c. Competitors d. Possibility of Substitution
_______27. A supplier enjoys this power if there are few suppliers of an essential input and they therefore control the supply of
that new input.
a. Competitors b. Buyer Power c. Supplier Power d. Possibility of Substitution
_______28. When investors see that a market is profitable, they will desire to join the bandwagon and get a share of the profits.
a. Competitors b. Buyer Power c. Supplier Power d. Possibility of New Entrants
_______29. These are goods that may, even if partly, satisfy the same needs of a consumer such that the consumer may use one
instead of another.
a. Competitors b. Manufacturers c. Products d. Substitutes
_______30. You need to study this practices as a means to identify the goods and services that will fit into these celebrations
and spending behavior.
a. Economic Forces b. Cultures and Lifestyles c. Political Factors d. Physical Environment

II. Enumerate the following.

31 - 33 - Types of Imperfectly Competitive Market
34 - 38 - Five forces of Competitive Position Analysis
39 - 41 - Internal factors that may affect the business
42 - 44 - External forces that may affect the business
45 – 50 – Key factors to be considered in analyzing your industry identified by the SBTDC.

GOD BLESS!

Prepared by: Checked by: Noted:

Melita S. Pascua Nenita C. Buisel Aurora T. Aguila

Teacher II, SHS Assistant Principal II Principal IV