COLLEGIO DE DAGUPAN

Department of Languages and Humanities

PRELIM EXAMINATION

INTRO TO ECONOMICS WITH TAR

NAME:_______________________________________
DATE:________________________
COURSE:_____________________________________

CS RAW SCORE/EQUIVALENT_____________
EXAMS EQUIVALENT_____________________

PRELIM GRADE:_________________________

I.IDENTIFICATION. Identify what is being asked or described.(X2)

_____________ 1. It refers to the study of individual market, firm or household.

_____________ 2. Economics comes from the Greek work ___ which means
management of the household.

_____________ 3. The study of the expenditures and revenues of the government.

_____________ 4. The trade relation between Philippines and Mexico.

_____________ 5. This law provided for free trade relations of the Philippines and U.S.
until 1954.
_____________ 6. This law provides for an outlay of $620 million pay for war damages
on the condition that the parity rights agreement will be signed by the Filipinos.

_____________ 7. It is an economic phenomenon that is permanent in nature.

_____________ 8. The study of the economy as a whole.

_____________9. The main source of livelihood of the early Filipinos.

____________ 10. The law that equalized he trade relations between the Philippines
and U.S. by removing quota limitation on certain Philippine products.
____________ 11. The American occupation in the Philippines was characterized by
economic stagnation and exploitation and restrictions.
___________


II.(15 points) MODIFIED TRUE OR FALSE. Write True if the statement is true. Write
False if the statement is false and modify the words that make the statement
false. All correct answers shall be given one point credit each; except for false
answers with proper modification which shall be given three (2) points each. A
correctly stated false answer without the correct modification on the given
statements below shall not be given any credit.

1. Opportunity cost is the choice between alternatives uses for a given quantity
of resources.
2. Shortage is a temporary situation which occurs when the supply of goods and
services runs low resulting from a greater demand on the part of the
consumers.
3. The most basic needs of man according to Abraham Maslow are
physiological needs.
4. The principle of scarcity means you cannot have everything you want.
5. The focused of the post-war economic policies was rehabilitation.
6. Encomienda system, a system of landholdings during the Spanish colonialism
in the Philippines was abolished in 1721.
7. The galleon trade disrupted and prevented the growth of trade in the
Philippines because other Asian countries were prohibited from establishing
trade relations with Philippines.
8. Allocation is the creation of utility, goods and services.
9. Labor unions and agricultural problems are concerns of macroeconomics.
10. Tobacco monopoly was established to develop and promote direct trade
between the colony and Spain and at the same time tap the natural resources
of the country.

III. MATCHING TYPE. Match column A. with B. Write the letter of your correct
answer on your test booklet.

Column A: Economic policies Column B. Administrations/Presidents

1. Filipino First Policy a. Pres. Manuel A. Roxas

2. PLEDGES and wider implementation b. Pres. Elpidio Quirino
Of the land reform code

3. Philippines 2000 c. Pres. Ramon Magsayasay

4. Agricultural Tenancy Act d. Pres. Carlos Garcia

5. Truth Commission e. Pres. Diosdado Macapagal

6. Ginintuang Masaganang Ani and RORO f. Pres.Ferdinand Marcos

7. Land Reform Code (RA3844) g. Pres. Corazon Aquino
and self-sufficiency in staple
food.
8. Elimination of the pork barrel funds h.Pres. Fidel Ramos

9. Treaty of General Relations was signed i. Pres. Joseph Estrada


10. Granting amnesty to the Huks and j. Pres. Gloria Arroyo
Reorganization of the government to
achieve economic efficiency.
k. Benigno Simeon Aquino

IV.(5 points) ESSAY. Choose one of the following questions and answer briefly
and concisely. Limit your answer in 5-7 sentences only.

1. Why is scarcity a permanent economic phenomenon?
2. Give the two basic facts in economics and briefly explain their relationship.
3. What makes man an economic being?
4. Among the different administrations, who do you think created the biggest impact
in the Philippine economy? Discuss briefly his economic policies.