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    SUMMATIVE TEST 4.1 Applied Economics

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    leanna121514
    The document provides instructions for a summative test involving indicating the effects of 10 statements on the demand and supply of goods. Students are asked to use symbols to show if a statement would cause demand or supply to shift right, left, or have no change. The document also provides two problems to solve: 1) constructing a demand curve using a given demand function and price data and 2) showing demand and supply curves using given quantity demanded, supplied, and price data and interpreting the curve.

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    SUMMATIVE TEST 4.1 Applied Economics

    Uploaded by

    leanna121514
    24 views2 pages
    The document provides instructions for a summative test involving indicating the effects of 10 statements on the demand and supply of goods. Students are asked to use symbols to show if a statement would cause demand or supply to shift right, left, or have no change. The document also provides two problems to solve: 1) constructing a demand curve using a given demand function and price data and 2) showing demand and supply curves using given quantity demanded, supplied, and price data and interpreting the curve.

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    SUMMATIVE-TEST-4.1-applied-economics

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    The document provides instructions for a summative test involving indicating the effects of 10 statements on the demand and supply of goods. Students are asked to use symbols to show if a statement would cause demand or supply to shift right, left, or have no change. The document also provides two problems to solve: 1) constructing a demand curve using a given demand function and price data and 2) showing demand and supply curves using given quantity demanded, supplied, and price data and interpreting the curve.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    24 views2 pages

    SUMMATIVE TEST 4.1 Applied Economics

    Uploaded by

    leanna121514
    The document provides instructions for a summative test involving indicating the effects of 10 statements on the demand and supply of goods. Students are asked to use symbols to show if a statement would cause demand or supply to shift right, left, or have no change. The document also provides two problems to solve: 1) constructing a demand curve using a given demand function and price data and 2) showing demand and supply curves using given quantity demanded, supplied, and price data and interpreting the curve.

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    © All Rights Reserved
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    SUMMATIVE TEST 4.

    1
    Instructions: Indicate the effects of the given statements on the demand and supply of a good based on
    the following outcomes. Use the symbol of your choice in your answer sheets. Copy and answer in a
    1 whole piece of paper.
    A. shift to the right -

    B. shift to the left -

    C. no change

    1. Well – received market innovation of a new cellphone.


    A. demand for cell phones ____________________
    B. Supply of cell phones ______________________
    2. Decrease in the price of rice.
    A. Demand for rice ___________________
    B. Supply for rice _____________________
    3. Improved technology in the manufacture of appliances.
    A. Demand for appliances ________________
    B. Supply of appliances __________________
    4. Government increases worker’s wages.
    A. Demand for basic commodities_______________
    B. Supply of basic commodities _________________
    5. El Niño phenomenon is being experienced today in our country.
    A. Demand for water and other root crops __________________
    B. Supply of water and other root crops __________________
    6. The price of electronic gadgets increased by 500 pesos.
    A. Demand for electronic gadgets __________________
    B. Supply of electronic gadgets ____________________
    7. The price of pandesal increased by 1 peso.
    A. Demand for pandesal _____________
    B. Supply of pandesal _______________
    8. The price of white sugar increased by 10.00 per kilo.
    A. Demand for white sugar ________________
    B. Supply of white sugar __________________
    9. Anticipated increase in general price of gasoline per liter.
    A. Demand for gasoline __________________
    B. Supply of gasoline ____________________
    10. Migration of Filipinos to 1st world countries.
    A. Demand for basic commodities _________________
    B. Supply of basic commodities ___________________
    B. Problem Solving.
    1. Using the following demand function , solve for the demand schedule of consumer Robert given the
    following prices for bottled water. Use this demand function. ( Qd = 60- 2 ( P ); Construct the demand
    curve with complete label.

    Prices Qd
    0 _____
    2 _____
    4 _____
    6 _______
    8 ______
    10 ______
    12 _____
    14 ______
    16 ________
    2. Use the given data for the demand and supply solve for each demand function and supply function.
    Secondly , show the Demand- Supply Curve. Write your interpretation of the curve made.

    PRICE (Blue) QUANTITY DEMAND ( yellow) QUANTITY SUPPLY ( green )


    1 58 34
    2 56 38
    3 54 42
    4 52 46
    5 50 50
    6 48 54
    7 46 58
    8 44 62
    9 42 66
    10 40 70

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