Republic of the Philippines

Department of Education
REGION II- CAGAYAN VALLEY
SCHOOLS DIVISION OF NUEVA VIZCAYA
EASTERN NUEVA VIZCAYA NATIONAL HIGH SCHOOL
DIDIPIO, KASIBU, NUEVA VIZCAYA
_____________________________________________________________________________________________

FINAL EXAMINATION IN APPLIED ECONOMICS

First Semester, S.Y.2022-2023
Name: __________________________________ Date: ______________ Score: ___________
Grade & Section: _____________________________
Directions: Read each item carefully. Determine what is asked in each number. Blacken the circle corresponding to the letter
of your answer. (AVOID ERASURES)

ABCD
O O O O 1. Which of the following statements about quantity demanded is NOT true? Quantity demanded is:
a. the entire relation between price and quantity c. a desired quantity, not necessarily the
quantity exchanged
b. expressed as a certain amount per period of d. effective demand, or the amount people are
time willing to buy at a particular price
O O O O 2. To say that the demand curve for movies is downward sloping to the right means that:
a. less will be demanded at lower prices c. less will be demanded if movies become
poorer in quality
b. less will be demanded at higher prices d. more will be demanded as color TV sets
become more expensive
O O O O 3. Which of the following will NOT, all else equal, cause demand for good A to change?
a. a change in the price of A c. a change in the price of C, a substitute
b. an increase in average income d. a change in the price of B, a complement
O O O O 4. Consider automobiles and automobile tires. When the price of automobiles decreases, the demand for
tires is predicted to:
a. decrease c. remain unchanged, although tire prices are
likely to fall
b. increase d. remain unchanged, although the quantity
demanded increases
O O O O 5. Which of the following is true?
a. All of the above is true. c. The lower the price of the good, the bigger
the quantity that will be demanded by the
buyer.
b. The supplies of inputs used affect the supply d. The lower the price of the good, the
of a good. smaller the quantity that will be offered by
the supplier.
For number 6 to 9, choose your answer on the following concept of demand and supply:
a. Demand b. Market c. Supply d. Supply schedule
O O O O 6. What do we call the desire for a particular good backed up by sufficient purchasing power? The term
demand signifies the ability or the willingness to buy a particular commodity at a given point in time.
O O O O 7. It is the amount of goods and services available for sale at given prices in a given period of
time and place.
OOOO 8. This is the place where buyers and sellers interact with each other and that exchange takes place among
them. In the market, there are different buyers and sellers who will buy or sell different quantities of a
commodity.
OOOO 9. Which of the following option reflect the individual schedule of only one producer or the
market schedule showing the aggregate supply of a group of sellers or producers?
For number 10 to 13, choose your answer on the following decision-making tools:
a. Decision Tree b. Decision Matrix c. Multivoting d. T-Chart
OOOO 10. This is used to evaluate all the options for a decision.
11. It ensures that all the positives and negatives are taken into consideration when making a decision.
12. Which of the following option is used when multiple people are involved in making a decision?
13. It refers to a decision-making tool that statistical analysis is also conducted with this technique.
For number 14 to 17, choose your answer on the following decision-making tools:
a. Cost-benefit b. Conjoint Analysis c. Pareto Analysis d. V-chart
OOOO 14. All of the following are decision-making tools, EXCEPT one. What is it?
OOOO 15. This is a technique used when a large number of decisions need to be made.
OOOO 16. It refers to a technique used when weighing the financial ramifications of each possible alternative as a
way to come to a final decision that makes the most sense from an economic perspective.
OOOO 17. It is a method used by business leaders to determine consumer preferences when making decisions.
For number 18 to 21, choose your answer on the following decision-making tools:
a. Smart office space pays c. Shorter meetings fuel efficiency.
 b. Small changes, big savings. d. use technology to speed up workflow.
OOOO 18. An example of these tools and techniques in making an efficient business is a huge amount of time is
often spent as an admin and sending information back and forth between various parties. What is it?
19. This is wherein we need to invest in automated booking and expense programs to minimize the time and
cost involved with reconciling expenses manually.
20. This will ensure everyone is on the right track and not wasting time on non-urgent tasks.
21. It refers to sharing meeting rooms and other communal spaces, for example, kitchen facilities, with other
companies and individuals to reduce costs.
For number 22 to 25, choose your answer on the following methods of competitive advantages:
a. Alleviate c. Differentiation
b. Cost Leadership d. Defensive Strategies
22. This strategy is closely related to differentiation and cost leadership because it is a method used by
OOOO businesses to keep those advantages in place once they have been attained.
OOOO 23. This strategy, low cost is only one of many possible factors that may set aside a business from others.
OOOO 24. Which of the following methods of competitive advantage, has an advantage occurs when a business can
offer the same quality product as its competitors, but at a lower price?
OOOO 25. All the following options are methods of competitive advantage, EXCEPT one. What is it?
For number 26 to 32, choose your answer on the following manufacturing the future :
a. Manufacturing is not monolithic c. Manufacturing is entering into the international
b. Manufacturing’s role is changing d. Manufacturing is entering a dynamic new phrase
OOOO 26. It refers to manufacturing industries that are not exactly alike; some are more laborer and knowledge-
intensive.
OOOO 27. This is a new global consuming class that emerges in entering a developing nation, and innovations spark
additional dynamic new demand, global manufacturers will have substantial phase new opportunities but
in a much more uncertain environment.
OOOO 28. This is a way to contribute to the economic shifts as nations mature: in today’s advanced economies,
manufacturing promotes innovation, productivity, and trade more than growth and employment.
OOOO 29. All the following options are manufacturing the future, EXCEPT one. What is it?
OOOO 30. This is the process of selling consumer goods or services to customers through multiple channels of
distribution to earn a profit.
a. manufacturing b. retail c. trade d. wholesale
OOOO 31. It refers to the process of converting raw materials, components, or parts into finished goods that meet a
customer’s expectations or specifications.
a. manufacturing b. retailing c. trading d. wholesaling
OOOO 32. Which is Not true about the supplier?
a. suppliers are the party that supplies goods or services.
b. suppliers are individuals or businesses that provide goods or services to vendors in return for the
agreed-upon compensation.
c. supplier may be distinguished from a contractor or subcontractor, who commonly adds specialized
input to deliverables
d. suppliers generally interact with consumers directly, leaving that task to vendors or shop owners.
For number 33 to 36, choose your answer on the following technical marketing techniques :
a. creating your pricing
b. create utility and usefulness with your product
c. deliver the true value of your product to your customer
d. emphasize your product’s key benefit to the customer
OOOO 33. This is the marketing technique you can use to beat your competition to create utility, and usefulness, and
satisfy the needs of your customers to achieve a specific result.
OOOO 34. It is the strategy in sales and marketing that is adapting to the customer’s reality, both social and
economic.
OOOO 35. which is the approach to sales and marketing by changing your pricing.
OOOO 36. it refers to the approach to a marketing plan for you to deliver what represents “true value” to the
customer.
For number 37 to 40, choose your answer on the following socioeconomic factors affecting business and
industry:
a. education b. income c. occupation d. status
OOOO 37. It refers to a type of job people perform by their skills, experiences, or choices.
OOOO 38. This equips members of society with the skills and knowledge they require to be employed in different
jobs and professions.
OOOO 39. It refers to the amount of money individuals earn from their daily economic activities, be it employment,
business or investments.
OOOO 40. All the following options are socioeconomic factors affecting business and industry, EXCEPT one. What
is it?
OOOO 41. Why do people have greater purchasing if the prices of the commodities are lower?
a. because they want to save money.
b. because that is their income can afford it.
c. because that is the only time that they can be able to buy it.
d. because they can buy more goods and services. But at higher prices, naturally, they can
buy less.
OOOO 42. If the price of the commodities increases, how do the consumers respond to it?
a. they tend to buy less.
b. they look for substitutes whose prices are lower.
c. they save money so that they can be able to buy it.
d. they wait for the price of the commodities to decrease.
For number 43 to 46, choose your answer on the following determinants of demands:
a. income b. price expectation c. prices of related goods d. taste and preferences
OOOO 43. It was said in the news last night that the prices of onion will rise tomorrow in the market. Early in the
morning, Aling Nena already rush to the market to purchase bulk of onion. What determinants of demand
does the situation refers to?
OOOO 44. Aling Martha went to the market to buy sayote because she will cook tinola for lunch. Due to the increase
of price of sayote, instead of buying it she goes for papaya because its cheaper than the sayote. What
determinants of demand does the situation refers to?
OOOO 45. Blare was able to purchase more of her hello kitty collection during the 12.12 on Shoppe, because the
price of all item on Shoppe or any online shopping platform will drop if there is special event or holiday.
What determinants of demand does the situation refers to?
OOOO 46. Now a days most of the female celebrities wears baggy pants and because of that many young women are
into it already and became a trend in fashion. What determinants of demand does the situation refers to?
For number 47 to 50, choose your answer on the following determinants of supply:
a. Cost of production b. Tax and Subsidies c. Technology d. Weather
OOOO 47. Mang Zymon purchase more of umbrella and raincoat to sell into his shop because it is already rainy
season in Didipio. What determinants of supply does the situation refers to?
OOOO 48. Mang Juan was not able to plant of onion this year due to high taxes. What determinants of supply does
the situation refers to?
OOOO 49. Deliza graham balls increases her pricing, in the reason that all of the ingredients in the production of her
business increase. Considering the fact that it is also take time and effort in making graham balls. What
determinants of supply does the situation refers to?
OOOO 50. Mira strawberry jam getting popularization into their community due to the scrumptiousness and
creamiest of their product. There is an increase of consumers every time and then, in order for them to
cater or meet the demands they need to use machinery that can make the production easier and faster.
What determinants of supply does the situation refers to?
For the number 51 to 55 question, From the demand function of Qd = 60 – 2P, complete the demand
schedule of onion (per kilo). (show your solution at the back of your test paper or into a clean sheet of
paper)
Price Qd(Quantity Demanded)
a. 0
b. 20
c. 40
d. 80
e. 100
OOOO 51. What is the quantity demanded of the 0 price per kilo of onion?
a. 0 b. 20 c. 40 d. 60
OOOO 52. What is the quantity demand of the 20 pesos per kilo of onion?
a. 0 b. 20 c. 40 d. 50
OOOO 53. What is the quantity demand of the 40 pesos per kilo of onion?
a. 20 b. 40 c. 60 d. 80
OOOO 54. What is the quantity demand of the 80 pesos per kilo of onion?
a. 20 b. 40 c. 60 d. 80
OOOO 55. What is the quantity demand of the 80 pesos per kilo of onion?
a. 10 b. 20 c. 30 d. 40
For the number 56 to 60 question, From the Supply function of Qs = 100 + 5P, complete the Supply
schedule of onion (per kilo). (show your solution at the back of your test paper or into a separate clean
sheet of paper)
Price Qs(Quantity Supplied)
a. 20
b. 40
c. 60
d. 80
e. 100
OOOO 56. What is the quantity supplied of the 20 pesos per kilo of onion?
a. 100 b. 200 c. 300 d. 400
OOOO 57. What is the quantity supplied of the 40 pesos per kilo of onion?
a. 300 b. 600 c. 900 d. 1200
OOOO 58. What is the quantity supplied of the 60 pesos per kilo of onion?
a. 100 b. 200 c. 300 d. 400

OOOO 59. What is the quantity supplied of the 80 pesos per kilo of onion?
a. 100 b. 150 c. 250 d. 500
OOOO 60. What is the quantity supplied of the 100 pesos per kilo of onion?
 a. 300 b. 600 c. 900 d. 1200

Prepared by:

MHARJUN C. LAMPA

Checked by:

IRENE T. TOBIAGON
MT 11/ SHS SGH

Noted by:

OSCAR T. CASTRO JR
School Head