______W/ Exam Permit

LA CONSOLACION COLLEGE BACOLOD ______W/O Exam Permit

SENIOR HIGH SCHOOL
Score:
SECOND QUARTERLY EXAMINATION __________________
Applied Economics
(For St. Crispn, St. Jude, and St. Homobonus)

Name: ______________________________________________________________ Date: _______________

Section: _______________________________ Track/Strand: __________________

General Instructions:
 Please read all the questions carefully. Write legibly and be concise as possible. Use Black or Blue pen
only. Avoid erasures. Any form of cheating will result to Zero Score.

I. Multiple Choice: (Understanding). Write your answers on the space provided. (15 points)
_______ 1. An interaction between buyers and sellers of trading or exchange.
A. Market C. Industry
B. Business D. Economy
_______ 2. The willingness of a consumer to buy a comodity at a given price.
A. Demand C. Supply
B. Equilibrium D. Market
_______ 3. An agreement in which two or more persons combine their resources in a business with a view
to making a profit.
A. Sole Proprietorship C. Partnership
B. Cooperative D. Corporation
_______ 4. The SWOT analysis was created in the 1960’s by
A. Edmund P. Learned, C. Roland Christensen, Kenneth Andrews, and William D. Book
B. Edmund P. Learneers, Roland Ronalds, Kenneth Andrews, and William D. Christeen
C. Edmund P. Brook, Roland Christeen, Kenneth Andrews, and William D. Christeen
D. Edmund P. Brook, Roland Christeen, Kenneth Andrews, and William D. Book
_______ 5. Felt when a change in the price of a good changes consumer’s real income or purchasing powe.
A. Income Effect C. Substitution Effect
B. Price Effect D. Quantity Effect
_______ 6. As the price increases, the quantity supplied of that product also increases.
A. Law of Quantity C. Law of Price
B. Law of Supply D. Law of Demand
_______ 7. Refers to the quantity of goods that a seller is willing to offer for sale.
A. Demand C. Services
B. Goods D. Supply
_______ 8. An entity organized by people with similar needs to provide themselves with goods or services or to
jointly use available resources to improve their income.
A. Partnership C. Sole Proprietorship
B. Cooperative D. Corporation
_______ 9. The point where the demand and supply curves intersect.
A. Intersection C. Market Equilibrium
B. Equilibrium D. Point of Contact
_______ 10. Porter’s Five Forces of Competitve Position Analysis was developed in 1979 by _____________
of Harvard Business School.
A. Michelle E. Porter C. Michaela E. Porter
B. Michael E. Porter D. Michael Angelo E. Porter
_______ 11. As price increases, the quantity demanded for that product decreases.
A. Law of Quantity C. Law of Price
B. Law of Supply D. Law of Demand
_______ 12. The point where the demand and supply curves intersect.
A. Intersection C. Market Equilibrium
B. Equilibrium D. Point of Contact
_______ 13. All other related variables except those that are being studied at the moment and are held
constant.
A. Ceteris Paribus C. Citris Paribis
B. Citrus Paribus D. Ceteris Paribis
_______ 14. Felt when a change in the price of good changes demand due to alternative consumption of
substitute goods.
A. Income Effect C. Substitution Effect
B. Price Effect D. Quantity Effect
_______ 15. Owned by a single individual who is singly responsible for running the business
A. Partnership C. Sole Proprietorship
 B. Cooperative D. Corporation

II. A. Identification (Remembering):

Identify the following. Write SP if it is for Sole Proprietorship, P for Partnership, CP for
Corporation and CO for Cooperative.
_______ 1. Accountable for all debts and obligations related to the business.
_______ 2. The simplest way to set up business.
_______ 3. A legal entity that is separate from its owners, the shareholders.
_______ 4. An entity organized by people with similar needs to provide themselves with goods or
services or to jointly use available resources to improve their income.
_______ 5. Shoulders all losses and has unlimited liability which means payment of his loans will extend
to his personal assets.
_______ 6. Agreement is drawn up and profits are divided among members according to the terms of
agreement.
_______ 7. An agreement in which two or kore persons combine their resources in a business with a
view to making a profit.
_______ 8. No shareholders are personally liable for the debts, obligations, or acts of the corporations.
_______ 9. Members have an equal say in decision-making with one vote per member regardless of
number shares held.
_______ 10. Enjoys exclusive control and decision-making as well as gets all the profits.

B. Enumeration. (Remembering): Write your answers on the space provided. (10 points)
1. _________________________________
2. _________________________________
3. _________________________________ Porter’s Five Forces of Competitive
4. _________________________________ Analysis
5. _________________________________
6. _________________________________
7. _________________________________
8. _________________________________ Types of Business Organization

9. _________________________________
10. _________________________________
11. _________________________________
Types of Industries
12. _________________________________
13. _________________________________
14. _________________________________
Two types of Partnership
15. _________________________________

III. A. Creating (Designing)

Think of a new product you would want to introduce in the market. It can be a good already being
sold but which you can innovate and improve, or it could be something really new that you yourself
conceptualized. Using the SWOT analysis list down the possible internal and external factors that
may affect to your business. (15 points)
Name of the Business:
Product/s to be sold:
Target Customers:
Strenght Weaknesses Opportunity Threat
1. 1. 1. 1.

2. 2. 2. 2.

3. 3. 3. 3.

B. Applying (Drawing)
Use the schedule below to draw a supply curve for beef on the grid provided.
 (10 pts.)

Price per kilo of Quantity

beef (₱) demanded (kilos)
600 300
500 250
400 200
300 150
200 100
100 50

Rubric for scoring:

CRITERIA PERFORMANCE INDICATORS POINTS
Design The illustration is well presented and 2
organized.
Interface All elements interact with each other. 2
Components All elements are included and drawn 3
correctly.
Label All elements labeled with reference and 3
value.
Total 10

IV. Essay (Evaluating). Read the questions carefully and write your answers at the back of the
test paper. (20 points)

1. Distuingish between General Partnetrship and Limited Partnership. (10 points)

2. Discuss how SM impacts positively on the community and the country. (10 points)

Rubric for scoring

CRITERIA PERFORMANCE INDICATOR POINTS
Provided pieces of evidence, supporting
Content 5
details, and factual scenarios.
Expressed the points in clear and logical
Organization of Ideas 3
arrangement of ideas.
Grammar Use correct grammar and choice of words 2
TOTAL 10

“Our greatest glory is not in never falling, but in rising every time we fall.”

- Oliver Goldsmith

Enjoy your Semestral Break! See you on the Second Semester!

Prepared by: Mr. Rhon Dave P. Suarez, MBA and Ms. Christy Jane Paduano
Applied Economics Instructors