Applied Economics

nd
2 Qtr: First Summative Test

Name: _______________________________________ Date: __________ Score: ___________

I. Identification. Identify the following.

Competition Speed Competitors Accessibility

Customers Empowerment Suppliers Responsiveness

___________________1. It arises whenever at least two parties strive for a goal which cannot be shared: where one's gain is the
other's loss.
___________________2. It is an individual or business that purchases the goods or services produced by a business
___________________3. Any person or entity which is a rival against another.
___________________4. It is a person, organization, or other entity that provides something that another person, organization,
or entity needs.
___________________5. The ability of the organization to respond to customers’ needs.
___________________6. The ability to address customers’ queries, problems in a haste manner.

II. Enumeration. Provide what is being asked for.

1. Give 2 tools of competition and explain how it is utilized.

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2. Give 2 tools of customers and explain how it is utilized.

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3. Give 2 tools of competitors and explain how it is utilized.

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4. Give 2 tools of suppliers and explain how it is utilized.

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5. Give 5 ways to maintain good relationship among suppliers.

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6. Give 2 techniques of competition and explain how it is utilized.

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7. Give 2 techniques of customers and explain how it is utilized.

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8. Give 2 techniques of suppliers and explain how it is utilized.

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