Applied Economics Exam 2

BOLO NORTE HIGH SCHOOL
Bolo Norte Sipocot, Cam. Sur

SECOND PERIODICAL EXAM
APPLIED ECONOMICS
(2016-2017
Name:____________________________________________________Section:________Score:________
Circle the letter corresponding to the best answer to the question.
1. A person who own the business , responsible for the success or future of their business, enjoy all
the business profit and a problem solver.
a. Entrepreneur*
c. Employer
b. Proprietor
d. Employee
2. A business that composing less than 100 employees and have turnover of less than 150 million
per annum.
a. Corporation
c. partnership
b. Small business*
d. incorporation
3. A person who are not responsible for the turnout of the business venture, expecting that
management will solve the existing problem of the business.
a. Employee*
c. Employer
b. Entrepreneur
d. Manager
4. Is the buying of a product at wholesaler price and then selling it double of the wholesale price.
a. Keystoning*
c. market
b. Venture
d. Profit
5. A problem of the business in which they are losing money
a. Insolvency
c. holiday
b. Bankruptcy
d. lumpsum
6. A small business that originates as an idea in the mind of an entrepreneur.
a. Proprietor
c. Ventures*
b. Market plan
d. business plan
7. The money that you make is more than what you use to pay the bills.
a. Profit*
c. Income
b. Asset
d. liabilities
8. Someone who earns a living by working in a particular business.
a. Employee*
c. manager
b. Profession
d. Supervisor
9. The ability to convince people to see your point of view and get them interested in your ideas.
a. Persuasiveness*
c. Risk taker
b. Appeal
d. Guessing
10. Refers to the amount of money to which an investment will grow over a finite period of time at a
A given interest rate.
a. Future value*
c. Money value
b. Time value
d. investment value
11. The branch of economics that deals with the exchange of goods and services with foreign
countries
a. International barrier
c. Applied economics
b. International trade*
d. Asean
12. Is the portion of current income not spent in consumption?
a. Savings*
c. Money
b. Investment
d. budget
13. Purchasing of assets with the goal of increasing future income.
a. Stock exchange
c. Investor
b. Investment*
d. Credits
14. The ability of an investment to be converted into cash quickly without losing its value
a. Owning
c. Selling
b. Liquidity*
d. Return
15. The courage to expose oneself to possible loss
a. Risk taking*
c. braveness
b. Risk
d. accepting
16. The ability to see the end results of your goal while working to achieve them.
a. Mission
c. Goal
b. Vission*
d. planning
17. It is the refusal to quit, willingness to keep goals in sight and work towards them despite
obstacles
a. Persuasiveness
c. Organization
b. Perseverance
d. bidden
18. A belief that you can do what you set out to do.
a. Coincidence
c. Optimistic
b. Confidence*
d. Discipline
19. Tax on goods that is being shipped internationally
a. Poll tax
c. Import tax
b. Tariff*
d. Export tax
20. The profit or yield from an investment.
a. Return*
c. Interest
b. Change
d. Compound interest
21. The desire to work in hand to accomplish ones goal.
a. Wants
c. Accomplishment
b. Desire*
d. Seriousness
22. The ability to cope with changing situation in the business
a. Adaptability*
c. Acceptance
b. Honesty
d. Ideal
23. The willingness to compete and test oneself against others
a. Self- competiveness
c. Rivalry
b. Competiveness
d. Feud
24. Global international organization dealing with the rules of trade between nations.
a. WTO*
c. BTS
b. OTW
d. CBN
25. Philippine permanent representative to the world trade organization that appointed by President
Aquino.
a. Thomas Tuazon
c. Ricardo Dalisay jr
b. Berna Tuazon
d. Esteban B. Conejos jr.
26. What is the relationship between risk and return?
a. High risk will result to high return*
b. Low risk will result to high return
c. No return will result to high risk
d. More return less risk
27. The following are key for the business to succeed except;
a. By low
c. Keep good records
b. Sell high
d. Train more people
28. The primary cause of small business failures is,
a. lack of capital
b. management incompetence*
c. poor location
d. improper inventory control
29. The primary purpose of a business plan is to
a. attract lenders and investors.
b. enable an entrepreneur to take his or her company public.
c. guide a company by plotting a strategy for its success. *
d. meet SEC and other legal requirements designed to protect lenders and investors.
30. Define a company's overall direction and answer the fundamental question, "Why am I in
business"?
a. Goals
b. Strategies*
c. Objectives
d. Key performance factors
31. A marketing plan should,
a. determine customer needs and wants through market research.
b. pinpoint specific target markets the company will serve.
32.
33.
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
c. analyze the firm's competitive advantages and build a marketing Strategy around them.
d.. all of the above
The majority of customers who stop patronizing a particular store do so because
a. its prices are too high
b. its quality is too low
c. an indifferent employee treated them poorly
d. it failed to advertise enough
What can a company do to achieve stellar customer service and satisfaction?
a. Listen to customers with the help of suggestion boxes, focus groups, surveys, and other tools.
b. Define what "superior service" means so that customers and employees know exactly what to
expect and what to provide.
c. Hire friendly, courteous sales and service representatives.
d. All of the above
Product planning tells you:
a. Where you will produce your product.
b. Cost to produce your product.*
c. Your Net profit
d. Total revenues
What things could you change to adjust your profit?
a. Price.
b. Number
c. Less expensive supply sources.
d. All of the above.
When counting change back to a customer, you should always give the ____________ amount of
coins possible.
a. best
c. most
b. least
d. correct
Which of the following is an example of an internal growth strategy?
a. Licensing
b. merger
c. new product development
d. strategic alliance
Which of the following is an example of an external growth strategy?
a. strategic alliances and joint ventures
b. improving an existing product or service
c. increasing the market penetration of an existing product or service
d. extending product lines
You can always make more money but you cannot make more time. What does it implies?
a. Time is gold
b. Grab the opportunity
c. Time is not enough to create money
d. Time management
How can a tariff considered a barrier?
a. It increases the prices of the product
b. It decreases the customer
c. It creates defects to the product
d. It lessen the price of the product
Is there any advantage in a country if they have delegates or representative in the World trade
Organization?
a. Yes, it can promotes a good relationship to other country
b. Yes, country will be updated in all means
c. No, its just a waste of time
d. No, it creates a disadvantage on their part
In savings the most important thing or necessary is
a. Income
b. Profit
c. Gains
d. Money
International trade is important for what reason?
a. It can give us different technologies and strategy to form business
b. It can give tourist and money to the country
c. It gives opportunities to less develop country
d. None of the above

44. Mr. Hong Hang a billionaire, plan to open his franchise business of Jollibee and 7 eleven in
Bocol, Sipocot, Camarines Sur because he knows that there is no establishment that build in that
place.
In your understanding with the situation, would you think there is a possibility of high
income that Mr. Hong Hang will be gain?
a. There is a greater percentage that he will not gain more profit because of accessibility of
the place.
b. There will be a massive income because of none presence of competitive
c. There will be a greater percentage of losing money because of lack of customer
d. None of the above
45. President of the Philippines is known with his arrogant statement to our allies especially America.
Does it affects the relation of the Philippines to international trade over other country?
a. Yes, because the might get angry and stop us to trade in their country
b. No, Philippines is a strong country we can live without the help of others
c. It will not affects the trading because we have same law to follow
d. It will not affects they are merciful they will understand us
46. Mr. Dodong a grade-11 student want to increase his savings for the reason of, he wanted to buy a
motorcycle that can be used to his every day journey in going to school. If you are Dodong how
can you solve the problem?
a. Decrease my expenses and try to put first my money to my savings account
b. I will not consume products and services
c. Have a plan on how to save and how much to save
d. Borrow money
47. Investors in the Philippines is declining, the following are the reason except:
a. Security of investors
b. High performance of workers
c. Adaptation
d. Poverty
48. Based on the survey people who are interested in investment are the businessman and rich people.
Why is it that in the lower class they are not considering this kind of opportunities?
a. Lack of capital
b. Lack of knowledge
c. Lack of power
d. All of the above
49. Mr. LO LUNG is experiencing an increase of loss in his business because of the law, that
mandating all the business establishment to lessen their contractual workers or stop
contractualization.If you are in his place what action will you make to solve the said problem?
a. Layoff some of your workers
b. Stop the business
c. Hire another workers
d. Temporarily close your business
50. If a country were to join a free trade area, its business sector would gain because:
a. It could get tariff-free raw materials from countries inside the free trade area.*
b. There would be exchange rate stability between the member countries.
c. Prices of competitors from countries not in the free trade area would rise.
d. There would be fewer barriers to establishing subsidiaries in other countries in the free
trade area.
Prepared by:
SANSON P. OROZCO
Teacher
APPROVED BY:
ELEANOR P.
TALAY
School Head

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BOLO NORTE HIGH SCHOOL

Bolo Norte Sipocot, Cam. Sur

d. None of the above

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