Professional Documents
Culture Documents
TEST I. IDENTIFICATION. Analyze the statement and write the correct answer. 10 pts.
1. Refers to the nature and degree of competition in the market for goods and services.
2. It is a market form in which a single firm controls the supply if singles commodity which has no close
substitutes.
3. The term “oligoi” means _______.
4. The term “pollein” means ______.
5. It is the study of particular markets, and segments of the economy.
6. The term “micros” means______.
7. The term “macros” means ______.
8. It is a part of income that spent on good and services yielding direct satisfaction.
9. Refers to the amount that households and business spend on items that are used to make more goods
and services or capital goods.
10. It deals with the performance, structure and behavior of the entire community, of a nation, a region, or
entire world.
3. It is the type of monopoly for the purpose of maximizing profits. Owned by individuals or organizations and
classified as simple and discriminating.
6. Refers to the inherent power of the government, exercised through legislature, to impose burdens upon the
subject and objects.
a. taxation b. tax c. tax evasion d. tax avoidance
7. Refers to the taxpayer of illegal means to reduce tax payment and punishable by law.
a. taxation b. delinquent tax payer c. tax evasion d. tax avoidance
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8. An agrarian reform as “the redistribution of lands, regardless of crops or fruits produced, to farmers and
regular farm workers who are landless”.
a. R.A. No. 6657 b. R.A. No. 6667 c. R.A. No. 5766 d. R.A. No. 6656
9. It us an autonomous and duly registered association of persons, with a common bond of interest, who have
voluntarily joined together to achieve their social, economic and cultural needs.
a. service cooperative b. cooperative c. consumer cooperative d. credit cooperative
12. It occurs in regular patterns, usually on an annual basis, and caused by predictable changes in demand.
a. structural unemployment b. seasonal unemployment c. frictional unemployment
14. Refers to unemployment that occurs when workers are not qualified for the jobs that are available.
a. structural unemployment b. seasonal unemployment c. frictional unemployment
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FINAL KEY ANSWER IN ECON 101
40pts