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    Good Luck and God Bless!: First Quarter: Module 2 Sum-Up Exercises in Applied Economics

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    Rio Jaena Dimayuga
    1. The document provides an assignment on applied economics for an ABM 11 class. It contains questions about markets, determinants of supply and demand, elasticity, and market equilibrium. 2. The assignment has multiple choice and short answer questions about concepts like monopoly, oligopoly, perfect competition, and monopolistic competition. It also asks students to analyze impacts on supply and demand from scenarios. 3. Students are asked to solve for market equilibrium using supply and demand equations and show their work. The assignment aims to test students' understanding of key economic concepts through different question formats.

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    Good Luck and God Bless!: First Quarter: Module 2 Sum-Up Exercises in Applied Economics

    Uploaded by

    Rio Jaena Dimayuga
    465 views3 pages
    1. The document provides an assignment on applied economics for an ABM 11 class. It contains questions about markets, determinants of supply and demand, elasticity, and market equilibrium. 2. The assignment has multiple choice and short answer questions about concepts like monopoly, oligopoly, perfect competition, and monopolistic competition. It also asks students to analyze impacts on supply and demand from scenarios. 3. Students are asked to solve for market equilibrium using supply and demand equations and show their work. The assignment aims to test students' understanding of key economic concepts through different question formats.

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    11

    Original Title

    APPLIED ECONOMICS EXAM 2

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    1. The document provides an assignment on applied economics for an ABM 11 class. It contains questions about markets, determinants of supply and demand, elasticity, and market equilibrium. 2. The assignment has multiple choice and short answer questions about concepts like monopoly, oligopoly, perfect competition, and monopolistic competition. It also asks students to analyze impacts on supply and demand from scenarios. 3. Students are asked to solve for market equilibrium using supply and demand equations and show their work. The assignment aims to test students' understanding of key economic concepts through different question formats.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    465 views3 pages

    Good Luck and God Bless!: First Quarter: Module 2 Sum-Up Exercises in Applied Economics

    Uploaded by

    Rio Jaena Dimayuga
    1. The document provides an assignment on applied economics for an ABM 11 class. It contains questions about markets, determinants of supply and demand, elasticity, and market equilibrium. 2. The assignment has multiple choice and short answer questions about concepts like monopoly, oligopoly, perfect competition, and monopolistic competition. It also asks students to analyze impacts on supply and demand from scenarios. 3. Students are asked to solve for market equilibrium using supply and demand equations and show their work. The assignment aims to test students' understanding of key economic concepts through different question formats.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Sto.

    Niño Formation and Science School – Night Class


    Rosario, Batangas

    FIRST QUARTER: MODULE 2


    SUM-UP EXERCISES IN APPLIED ECONOMICS
    ABM 11
    Name: Date:
    Gr. & Sec: Score:

    “POSITIVE THOUGHTS, POSITIVE ACTION, POSITIVE RESULTS”

    Good Luck and God Bless!


    GENERAL DIRECTION: Any form of erasure or alteration for the final answer means wrong. Use black pen only.
    PART I.
    A. PROBLEM-SOLVING
    Rowella was not able to watch the discussion in Applied Economics because of poor internet connection in their place.
    She asked for your help in answering her assignment. What will be your answer on the following questions? Choose your answer
    on the following words inside the box.

    _______________________1. An interaction between buyers and sellers of trading or exchange.


    _______________________2. A type of market where workers offer services and look for jobs and where employers look for workers
    to hire.
    _______________________3. A market which includes the stock market where securities of corporations are traded.
    _______________________4. A type of market where we buy consumer goods.
    _______________________5. The most common type of market.

    Goods Market Labor Market Market


    Financial Market Demand

    B. ANALYSIS
    Directions: Read the following words below. Draw a heart ( ) if the word is a Non-Price Determinant of Demand and star
    ( ) if it is Non- Price Determinant of Supply.
    6. Number of sellers 6. ____________
    7. Technology 7. ____________
    8. Number of buyers 8. ____________
    9. Income 9. ____________
    10. Taxes, Subsidies and Regulations 10____________

    C. SYNTHESIS
    11. Monopoly: Single seller: ______________________: Multiple Seller
    O A. Competition O B. Oligopoly
    O C. Perfect Competition O D. All of the above
    12. Heterogenous product: Monopolistic Competition: Homogenous Product: ______________________
    O A. Competition O B. Oligopoly
    O C. Perfect Competition O D. Monopoly
    13. Greater than 1: Elastic: Less than 1: ______________________
    O A. Inelastic O B. Unitary Elastic
    O C. Arc Elasticity O D. All of the above
    14. Greater than 1: Elastic: ______________________: Equal to 1
    O A. Inelastic O B. Unitary Elastic
    O C. Arc Elasticity O D. All of the above
    15.Two points on the demand curve: Arc Elasticity: Single point on the demand curve: ______________________
    O A. Inelastic O B. Unitary Elastic
    O C. Arc Elasticity O D. Point Elasticity

    D. INTERPRETATION
    Directions: Differentiate Perfect Competition to Monopolistic Competition by using a concept map.
    16. A homogeneous product is sold by sellers
    17. Monopoly exists when a single firm that sells in that market has no close substitutes.
    18. Perfect mobility of resources refers to the easy transfer of resources in terms of use or in terms of geographical mobility
    19. Market price and quantity of output are determined exclusively by forces of demand and supply.
    20. A single seller has control of entire supply of raw materials.

    E. APPLICATION
    Your sister is having a hard time answering the activity in her module. She asked your help. What will be your answer on the
    following items?

    COLUMN A COLUMN B

    ___21. Competition A. Quantity demanded is equal to Quantity Supplied

    ___22. Equilibrium B. Willingness of the consumer to buy

    ___23. Market Equilibrium C. Rivalry among various sellers

    ___24. Supply D. Quantity of Goods that seller is willing to sell

    ___25. Demand E. Demand is equal to Supply

    PART II.
    A. PROBLEM SOLVING
    Liza was absent during the discussion about the Introduction to Applied Economics. She asked for your help in answering her
    assignment. What will be your answer on the following questions?
    _______________________26. The price of the goods itself is what affects the demand for goods.
    _______________________27. The income of the consumer influences the demand for goods.
    _______________________28. The price of related goods such as a substitute or complementary goods affect the demand for goods
    _______________________29. The price of goods itself influences the supply of goods.
    _______________________30. Measure of how much buyers and sellers respond to change in market condition.

    B. ANALYSIS
    Directions: Indicate the effects of the given statements on the demand and supply for a good based on the following outcomes. Writ
    the phrase of your choice on the space provided before ach demand and supply.

    a. Shift to the right

    b. Shift to the left

    c. No change
    31-32. Well-received market innovation of a new cellphone
    Demand for cell phones ________________________
    Supply of cell phones ________________________
    33-34. Increase in death rates due to calamities
    Demand for basic commodities ________________________
    Supply of basic commodities ________________________

    35. Decrease in the price of good X


    Demand for good X ________________________
    Supply of good X ________________________

    C. SYNTHESIS
    36. Agricultural market, street food vendor 36. ________________________
    37. Microsoft, Facebook, Google 37. ________________________
    38. Burger King, Jollibee, KFC 38. ________________________
    39. Caltex, Shell, SeaOil 39. ________________________
    40. Chowking, Pizza Hut 40. ________________________

    D. INTERPRETATION

    ________________________________________________________________________________________________________
    ________________________________________________________________________________________________________
    ________________________________________________________________________________________________________
    ________________________________________________________________________________________________________
    ________________________________________________________________________________________________________
    ________________________________________________________________________________________________________
    ________________________________________________________________________________________________________
    ________________________________________________________________________________________________________
    ________________________________________________________________________________________________________
    ________________________________________________________________________________________________________

    E. APPLICATION
    Directions: Solve for the Market Equilibrium of the given Quantity Demanded and Quantity Supplied. Show your solution. (5 points)

    Qd= 14-2p
    Qs= 2+ 4p

    God Bless 😊

    Prepared by:

    Rio Jaena T. Dimayuga

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