Republic of the Philippines

Department of Education
Region -X Northern Mindanao
Division of Lanao del Norte
Munia District
Munai National High School

Applied Economics
2 Quarter Examination – 1st Semester
nd

Name: ___________________________________Grade:12 Date: _____________ Score: ____________

General Instruction: Read the Direction Carefully.
Test I. Identification
_________________1. Refers to the market structure which is characterized by a few independent settlers.
_________________2. Define as the science and art of crop and livestock production.
_________________3. Refers to the group of people who combine their resources under the principle of
equality in order to attain objective to their mutual benefits.
_________________4. One of the principles of cooperative that is voluntarily and available to everyone with
social, political discrimination.
_________________5. Refers to the part of the economy that engaged in a various economic activity.
_________________6. Refers to the building of factories, commercial structures and residential building.
_________________7. Refers to the farm operation who sent or lease from land that they cultivated.
_________________8. Refers to those who own all the land which they work on.
_________________9. It is characterized by a big number of buyers and sellers.
_________________10. Refers to the firms that are able to offer a unique product in the market.
_________________11. Engage in Various activities including the processing of basic agricultural product and
primarily minerals.
_________________12. It is an important category of industries in the industrial sector.
_________________13. Also known as Mining and Quarrying.
_________________14. Refers to the equality of membership in makng decision for the cooperative.
_________________15. It is the process by which comparatively irregular, small fragmented and scattered from
lots restricted for better management.

Test II. Multiple choice. Read the sentence and encircle your best answer.

1. Refers to the product that is deemed unique and so the firm that produces has the advantage of supplying
to very large market.
a. Lack of substitute b. Barriers to entry c. Research and Development d. High Price
2. A monopolistic price the same product differently depending on the market condition.
a. High Price b. Price Discrimination c. Research and Development d. Lack of substitute
3. Refers to the barriers of a firms planning to enter the market should have a large economic scale.
a. Interdependence b. lack of substitute c. High Price d. Barriers to Entry
4. It makes the use of distinctive packaging and promotional techniques.
a. Human Capital b. Marketing Differentiation c. Physical Product Differentiation d. Through Distribution
5. It makes the use of different features of the product to enhanced it.
a. Through Distribution b. Human Capital c. Marketing Distribution d. Physical Product Differentiation
6. It refers to the Differentiation of product by using or specific channel of distribution.
a. Human Capital b. Through Distribution c. Marketing Distribution d. Differentiated Product
7. Refers to the farmers produce enough surplus to be traded in the market for cash or in exchange for the
commodities.
 a. Traditional Agriculture b. Modernizing Agriculture c. Modern Agriculture d. Agriculture
8. Refers to the major pattern of Agriculture that process specialized and are characterized by a large
portion of the product being produced for commercial purposes.
a. Modernizing Agriculture b. Traditional Agriculture c. Land costs d. Modern Agriculture
9. One of the major Programs of Agrarian Reform wherein the major compounds of the lands reform
program involves the orderly and systematic transfer of lands planted to rice and corn to tenants/tillers.
a. Printing of Issuance of certificate b. Operation land transfer c. Mapping of actual area d. Valuation of
land transfer
10. Refers to the surplus of income realized after having paid the interest to capital the net income is
distributed among the membership in the cooperative.
a. Patronage To refund b. Limited interest capital c. Open Membership d. Democratic Control
11. Refers to the economic activities that provide electricity, gas water and sanitary services to household.
a. Construction b. Mining and Quarrying c. Utilities d. Manufacturing
12. Refers to the type of industries that produces the limited amounts of a variety of commodities from
handicraft to processed foods.
a. Cottage or household industries b. Medium scale Industries c. Large Scale d. Commercial venture
industries
13. Type of industries that produce homogenous product for the rest of economy like cement, steel fertilizers
and coppers
a. Cottage or household industries b. Medium scale Industries c. Large Scale d. Commercial venture
industries
14. Type of industries that requires a large capital investment and employ more workers compared to small
and medium scale.
a. Cottage or household industries b. Medium scale Industries c. Large Scale d. Commercial venture
industries
15. Refers to the process of building up to country’s capacity to process the raw materials and to
manufacture
and goods for consumption for further production.
a. Industrialization b. Manufacturing c. Construction d. Agriculture
16. Refers to the service of providing a means of transferring one product from one place to another.
a. Land cost b. communication c. transportation d. Trade
17. Refers to the buying and selling of the product.
a. Supply b. Demand c. Trade d. Barter
18. It includes the expenditures for social services and general public services
a. Government Services b. Private Services c. Public Services d. Non-Government Services
19. Refers to the sector of the economy that is concerned with the funneling pecuniary resources from
lenders to borrowers.
a. Finance b. Auditor c. Real State d. Taxation
20. It is composed of national and local government agencies that have considerable control over
commodities and resources of the economy.
a. Public Sector b. Private Sector c. Youth Sector d. Non-Government Sector
21. Refers to the structure that an individual with a higher income pays the government tax proportion of
his/her income.
a. Progressive Tax b. Personal Tax c. Corporate Tax d. Property Tax
22. Refers to the tax where in individual shouldered
23. Refers to the form of indirect tax that is imposed on the profits earned by the domestic corporations,
resident of foreign corporation and non- resident of foreign corporation.
a. Progressive Tax b. Personal Tax c. Corporate Tax d. Property Tax
24. Refers to the form of indirect tax that is imposed on all citizens and resident of the Philippines with an
annual income at least Php.3000.
b. Progressive Tax b. Personal Tax c. Corporate Tax d. Property Tax
 25. Refers to the Difference between the value of commodity and the cost intermediate inputs or raw
materials producing the commodity.
a. Value added tax b. Value Added c. Direct tax d. Indirect tax

Test III. Matching Type

Column A Column B

__________1. One of the market structures wherein A. Government expenditure

the market has many buyers and sellers. B. Regressive taxation
__________2. It is from the Greek word ‘oligos’ C. Market Structure
meaning few and “Polein” meaning to sell.
D. Public Sector
__________3.It is characterized by a big number of
buyer and sellers. E. Inflation
__________4. Refers to the large numbers of sellers F. Oligopoly
that are offering differentiated product in the G. Monopolistic Competition
market.
H. Number of sellers
I.
__________5. The two economist who identify the
monopolistic competition in the late 1930’s.
__________6. Refers to the nature and different
degrees of competition prevailing in the market for
I. Edward Chamberlin and Joan Robinson
goods and services.
J. Perfect competitive Market
__________7. It is a system of taxation in which K. Monopolistic Competition
the ratio of taxes to income tends to decrease as
income increases. Test IV. Enumeration: Enumerate The
__________8. Increase in the general level of following :
prices.
1-4 What are the four type of market structure?
__________9. Refers to the expenses made by the
government in providing social services and 5-8 What are the factors that influence the kind of
performance of administration. agriculture Practice?
__________10. Refers to the portion of the 9-13 What are the five classification of land tenure
economy whose activities are under the control or in the Philippines?
direction of the state.
14-17 What are the four principle of cooperative?

18-20 What are the forms of indirect Tax?