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# De La Salle Santiago Zobel School

## High School Social Studies Unit

Third Term
WORLD ECONOMICS
CULMINATING UNIT ASSESSMENT

CN:

P= ___

U= ___

Name: _______________________________________
15
15
Section: S- ____ Date: _______ Teacher: Ms. Gavan/
Ms. Lubuguin
I. A. PROCESS. Provide the correct answer for each item. Show your solutions on the box provided.
Final answers should be boxed and in decimal form, rounded-off to 2 decimal places.
1. Oil Trade between Iran and United Arab Emirates (UAE)
The consumption behaviour of UAE with respect to oil is represented by the demand equation
Qd = - 20P+10000. On the other hand, the production behaviour of Iran with respect to its oil production is
represented by the supply equation Qs = 40P-5000.
Look for the following:
1 2. The price to which trade could happen between Iran and UAE (Pe)
3 4. The quantity of oil that Iran and UAE can agree on (Qe)
5 6. The graph that represents the relationship of oil trade between Iran and UAE
(Equilibrium graph)
7 8. What will happen if Iran raises the price above the equilibrium? Explain.
1-2. Price Equilibrium (Pe) (2 points)

## Rubric for Computation:

2 Final answer is correct ; solution was shown
1 Final answer is correct ; no solution was shown

## Rubric for Computation:

2 Final answer is correct ; solution was shown
1 Final answer is correct ; no solution was shown

## Rubric for Graphing:

2 Graph shifts are correct ; properly labelled
1 Graph shifts is incorrect ; not properly labelled

## Rubric for 2-point Essay:

2 Answer is correct. An example is given as a supporting
detail.
1 Answer is correct but no supporting details are given.

## 2. The Bubble Tea Drink

DLSZ is having a summer sports fest where teams from levels in the High School compete in various sports
events. On this occasion, the SRCC also set up booths to attract more people to support the festivities.
You and your classmates decide to take this opportunity to make some money and sell Bubble Tea.
Because of the hot weather and the crowd the activity brings, it seemed like a great idea.
11 12. How may the size of the crowd affect the demand for their product? Explain your answer
9 10. Essay

11 12. Essay

## Rubric for 2-point Essay:

2 Answer is correct. An example is given as a supporting
detail.
1 Answer is correct but no supporting details are given.

## Rubric for 2-point Essay:

2 Answer is correct. An example is given as a supporting
detail.
1 Answer is correct but no supporting details are given.

After a short market study you made, you are able to identify a good price and its projected demand. However,
your classmates disagree with your market study and suggest setting the price higher to make more profit.
Consider the given the demand schedule based on your study:
Price of
Bubble Tea
P15
P20

## Quantity demanded for

Bubble Tea
325
210

13 15. Essay: Is it wise to increase the price of Bubble Tea as suggested by your
* Relationship of Price and Quantity demanded
* Responsiveness of the consumer to price change
* Type and nature of your product
13 15. Essay

## Rubric for 3-point Essay:

3 Answer is correct and clear. Two examples are given as supporting details.
2 Answer is correct. An example is given as a supporting detail.
1 Answer is correct but no supporting details are given.

III. UNDERSTANDING. Answer the essay below briefly but thoroughly. Refer to the rubrics for grading.
Question:
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