This market can sometimes experience firms taking part in anti-

competitive behaviour. *
 Oligopoly
 Monopoly
 Perfect Competition
 Monopolistic Competition
This is one form of a formal agreement in an oligopoly. *
 Barriers to entry
 Oligopoly
 Natural Monopolies
 Cartel
Economic participants in a market of perfect competition. *
 Price takers
 Speculator
 Observer
 Price makers
Within monopolistic competition they produces goods that are
differentiated. *
 Price Maker
 Speculator
 Observer
 Price Takers
The soap industry offers a variety of products. One can buy a liquid
detergent, a bar soap, or a powder whichever he/she prefers. The
soap products are therefore differentiated in what way? *
 Human Capital differentiation
 Physical product differentiation
 Marketing differentiation
 Distribution differentiation
Daisy owns a bakery. She noticed that the price of the flour increased
greatly that the total variable cost now exceeds the store’s total
revenue. What will be the best recommendation for Daisy? *
 Shut down the store
 Enter the market
 Exit the market
 Reenter the market
____________ is “the value of a currency expressed in terms of the
amount of goods or services that one unit of money can buy. *
 PPP
 CPI
 Inflation
 Purchasing Power
________ is the process of moving from one country to another of
“which one is not a native for permanent residence.” *
 Exchange rate
 Migration
 OFW
 Unemployment rate
___________ shows the percentage of people in the labor force who
are jobless. *
 Exchange rate
 Migration
 Unemployment rate
 Employment rate
What do firms usually do when their total revenue is lesser than its
total costs? *
 Shut down
 Enter the market
 Restart
 Exit the market
It is a cost advantage resulting from an increase volume of
production. *
Barriers to entry
Price takers
Economies of scale
Price Makers
Products in this market are differentiated. *
Perfect Competition
Monopoly
Oligopoly
Monopolistic competition
The law of one price is the economic theory that states the price of an
identical security, commodity or asset traded anywhere should have
the same price. *
Inflation
Deflation
Relative Power Parity
Absolute Power Parity
It is a short-term decision of a firm to halt production for a specific
period of time due to market conditions. *
Restart
Exit the market
Shut down
Enter the market
This market structure has a lot of many buyers and sellers offering
identical goods and services. *
Monopoly
Oligopoly
Perfect Competition
Monopolistic Competition
When there is an increase in the purchasing power, consumers can
buy more goods and services with a given amount of money. This is
called __________. *
Absolute Power Parity
Purchasing power
Purchasing power gain
Purchasing power loss
The following causes purchasing power gain, EXCEPT; *
Technology advancement
Production
Inflation
Deflation
It is a type of differentiation which involves adding special features to
the product to enhance it. *
Physical product differentiation
Distribution differentiation
Marketing differentiation
Redistribution
Emma buys her groceries from wholesalers because of the
considerable lower price of products than in a retail store. The
scenario depicts a _________. *
Distribution differentiation
Human Capital differentiation
Physical product differentiation
Marketing differentiation
___________ is one of the fundamental determinants of an
economy’s health aside from inflation and interest rates. *
Migration
Unemployment rate
Exchange rate
Peace and Order