Name:_________________________ Gr&Sec:___________
MODIFIED TRUE OR FALSE: Write TRUE if the
underlined word/s is/are correct. If it false, CHANGE THE
UNDERLINED WORD/S to make the statement true.
__________1. According to Adam Smith, the government is
the sole purpose of production.
__________2. According to the Law of Diminishing Marginal
Utility, consumers’ consumption is based on their satisfaction.
__________3. Law of substitution is also known as the Law
Equilibrium.
__________4. Consumer sovereignty is the study of how
people decide to spend their money.
__________5. Law of substitution is according to Carl
Menger.
IDENTIFICATION: Identify each statement and write the
correct answer on space provided.
__________1. Provides business with the items they need to
set up and manage their business.
__________2. It is any person or other entity who commits
capital with the expectation of receiving financial returns.
__________3. Investors who invest for the long haul.
__________4. Branch of government who makes the law.
__________5. This branch of government is compose of
president, vice president and secretaries.
__________6. This is what we also call the Upper House.
__________7. A model with two entities- the household and
government.
__________8. This model is also called the open economy.
__________9. According to him there are three model in
determining the national income.
__________10. Give at least 1 part of the Judiciary branch of
government.
______________________________
Parents Signature Over Printed Name
Name:_________________________ Gr&Sec:___________
MODIFIED TRUE OR FALSE: Write TRUE if the
underlined word/s is/are correct. If it false, CHANGE THE
UNDERLINED WORD/S to make the statement true.
__________1. According to Adam Smith, the government is
the sole purpose of production.
__________2. According to the Law of Diminishing Marginal
Utility, consumers’ consumption is based on their satisfaction.
__________3. Law of substitution is also known as the Law
Equilibrium.
__________4. Consumer sovereignty is the study of how
people decide to spend their money.
__________5. Law of substitution is according to Carl
Menger.
IDENTIFICATION: Identify each statement and write the
correct answer on space provided.
__________1. Provides business with the items they need to
set up and manage their business.
__________2. It is any person or other entity who commits
capital with the expectation of receiving financial returns.
__________3. Investors who invest for the long haul.
__________4. Branch of government who makes the law.
__________5. This branch of government is compose of
president, vice president and secretaries.
__________6. This is what we also call the Upper House.
__________7. A model with two entities- the household and
government.
__________8. This model is also called the open economy.
__________9. According to him there are three model in
determining the national income.
__________10. Give at least 1 part of the Judiciary branch of
government.
______________________________
Parents Signature Over Printed Name
Name:_________________________ Gr&Sec:___________
MODIFIED TRUE OR FALSE: Write TRUE if the
underlined word/s is/are correct. If it false, CHANGE THE
UNDERLINED WORD/S to make the statement true.
__________1. According to Adam Smith, the government is
the sole purpose of production.
__________2. According to the Law of Diminishing Marginal
Utility, consumers’ consumption is based on their satisfaction.
__________3. Law of substitution is also known as the Law
Equilibrium.
__________4. Consumer sovereignty is the study of how
people decide to spend their money.
__________5. Law of substitution is according to Carl
Menger.
IDENTIFICATION: Identify each statement and write the
correct answer on space provided.
__________1. Provides business with the items they need to
set up and manage their business.
__________2. It is any person or other entity who commits
capital with the expectation of receiving financial returns.
__________3. Investors who invest for the long haul.
__________4. Branch of government who makes the law.
__________5. This branch of government is compose of
president, vice president and secretaries.
__________6. This is what we also call the Upper House.
__________7. A model with two entities- the household and
government.
__________8. This model is also called the open economy.
__________9. According to him there are three model in
determining the national income.
__________10. Give at least 1 part of the Judiciary branch of
government.
______________________________
Parents Signature Over Printed Name
Name:_________________________ Gr&Sec:___________
MODIFIED TRUE OR FALSE: Write TRUE if the
underlined word/s is/are correct. If it false, CHANGE THE
UNDERLINED WORD/S to make the statement true.
__________1. According to Adam Smith, the government is
the sole purpose of production.
__________2. According to the Law of Diminishing Marginal
Utility, consumers’ consumption is based on their satisfaction.
__________3. Law of substitution is also known as the Law
Equilibrium.
__________4. Consumer sovereignty is the study of how
people decide to spend their money.
__________5. Law of substitution is according to Carl
Menger.
IDENTIFICATION: Identify each statement and write the
correct answer on space provided.
__________1. Provides business with the items they need to
set up and manage their business.
__________2. It is any person or other entity who commits
capital with the expectation of receiving financial returns.
__________3. Investors who invest for the long haul.
__________4. Branch of government who makes the law.
__________5. This branch of government is compose of
president, vice president and secretaries.
__________6. This is what we also call the Upper House.
__________7. A model with two entities- the household and
government.
__________8. This model is also called the open economy.
__________9. According to him there are three model in
determining the national income.
__________10. Give at least 1 part of the Judiciary branch of
government.
______________________________
Parents Signature Over Printed Name