Scribd
Upload
664 views2 pages

Applied Economics Summative Assessment 3rd Quarter, Week 1-2

The document is a summative assessment for applied economics students in Bohol, Philippines. It contains a 15 question multiple choice test on key concepts in economics including: scarcity, capital, resources, labor, needs vs wants, poverty, microeconomics vs macroeconomics, and applied economics. Students are instructed to choose the best answer for each question by shading the corresponding letter on their answer sheet.

Uploaded by

Jolly Roy Bersaluna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
664 views2 pages

Applied Economics Summative Assessment 3rd Quarter, Week 1-2

The document is a summative assessment for applied economics students in Bohol, Philippines. It contains a 15 question multiple choice test on key concepts in economics including: scarcity, capital, resources, labor, needs vs wants, poverty, microeconomics vs macroeconomics, and applied economics. Students are instructed to choose the best answer for each question by shading the corresponding letter on their answer sheet.

Uploaded by

Jolly Roy Bersaluna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Republic of the Philippines

Department of Education
Region VII, Central Visayas
Division of Bohol

APPLIED ECONOMICS
SUMMATIVE ASSESSMENT
3rd Quarter, Week 1-2

Instruction: Write your complete name in your ZipGrade


answer sheet. Shade the circle under the letter in your
ZipGrade answer sheet which corresponds to your best
answer in the given question/statement from your test
questionnaire.
1. The gap between limited resources and limitless
wants.
A. Scarcity B. Wants C. Needs D. Absolute Poverty
2. These are the tools and machinery used to produce a
good or service.
A. Labor C. Resources
B. Capital D. Land
3. It represents all natural resources used in the
production of good.
A. Labor C. Resources
B. Capital D. Land
4. These are individuals who take attempts to make an economic profit.
A. Entrepreneurs C. Stakeholders
B. Government D. Policy-makers
5. It includes all of the work that labourers and workers perform.
A. Labor C. Resources
B. Capital D. Land
6. It means to fulfil our needs.
A. Needs B. Wants C. Scarcity D. Desire
7. Studies human behaviour as a relationship between ends and scarce resources.
A. Economics B. Scarcity C. Taxonomy D. Entrepreneurship
8. It is necessary for you to function and live.
A. Needs B. Wants C. Scarce Resources D. Entrepreneurship
9. It refers to the lack of income to buy the basic food and necessities for subsistence living.
A. Poverty B. Absolute Poverty C. Relative Poverty D. Critical Poverty
10. It refers to the structure on how the national income is being distributed among
households in an economy.
A. Poverty B. Absolute Poverty C. Relative Poverty D. Critical Poverty
11. The following are the various economic interventions in addressing the problem of
absolute poverty EXCEPT one:
A. Provide free meals C. Provide adequate clothing
B. Provide housing D. Improve income distribution
12. It is the study of economics in relation to the real world situations.
A. Applied Economics B. Microeconomics C. Macroeconomics D. Economics
13. The practice of studying applied economics wherein it focuses on the whole, aggregate
economy.
A. Microeconomics B. Macroeconomics C. Classical Economics D. Aggregate
Economics
14. The practice of studying applied economics wherein it focuses on analyzing individual
consumers and companies.
A. Microeconomics B. Macroeconomics C. Classical Economics D. Aggregate
Economics
15. It refers to any subjects that deals with human behaviour.
A. Social Science B. Physical Science C. Applied Science D. Economics

You might also like