ECON1SH – 3rd Periodic Examination SET A

Mr. Recto M. Luces

I. MATCHING TYPE--2 PTS EACH: (Match Column A with Column B - Letters only)
COLUMN A COLUMN B
1. WISE IN RUNNING A HOUSEHOLD A. MACROECONOMICS
2. RECORD OF MONEY THAT COMES IN AND GOES OUT B. BUDGET
3. INDIVIDUALS, HOUSEHOLDS AND FIRMS C. ARISTOCRACY
4. NATIONAL ECONOMY D. INDUSTRIAL REVOLUTION
5. THE OWNER OF THE LAND E. EIKONOMIA OR OIKONOMIA
6. FRIENDS AND RELATIVES OF THE FEUDAL LORD OR NOBLES F. FEUDAL LORD
7. TRANSITION FROM MANUAL LABOR TO WIDER USE OF G. GUILDS
MACHINES H. COMPUTERS
8. GROUP OF ARTISANS, CRAFTSMEN, TRADERS AND I. INFORMATION AGE
FINANCIERS J. SPINNING JENNY
9. DIGITAL REVOLUTION K. PRIMITIVE SYSTEM
10. INFORMATION TOOL CAPABLE OF STORING AND RETRIEVING L. INTERNATIONAL ECONOMICS
INFORMATION M. MICROECONOMICS
11. CLOTH WEAVING N. GREAT BRITAIN
12. PHYSICAL STRENGTH AND ABILITY MADE WEALTH O. FRANCE
13. ECONOMIC ACTIVITY INVOLVING DIFFERENT COUNTRIES P. NEEDS AND WANTS
14. FUNDAMENTAL ECONOMIC PROBLEM Q. SCARCITY
15. THE FIRST COUNTRY TO INDUSTRIALIZE IN THE WORLD R. INCOME SUMMARY

II. MODIFIED TRUE or FALSE (2 PTS. each): Write “True” if the statement is true, but if it is
false, write the word “False” and the correct term/s to replace the underlined word/s to
make it true.

1. Production possibilities table does not tell us which combination people will actually produce.
2. Full employment means that the economy employs the best method available.
3. Full production means that the economy is using all its resources to produce goods and
services.
4. Underemployment of resources happens when some of the resources are not employed to
produce goods and services.
5. Technology refers to the methods an economy uses to convert resources into goods and
services.
III. IDENTIFY: Write the letter of the item that is described by (or that match with) the statement.
Determine the correct answer from the choices below (A to O):

A. EMILIO AGUINALDO I. FERDINAND MARCOS

B. SPANISH ERA J. CORAZON AQUINO
C. SERGIO OSMEÑA K. FIDEL RAMOS
D. MANUEL ROXAS L. JOSEPH ESTRADA
E. ELPIDIO QUIRINO M. GLORIA MACAPAGAL-ARROYO
F. RAMON MAGSAYSAY N. BENIGNO AQUINO III
G. CARLOS GARCIA O. JOSE P. LAUREL
H. DIOSDADO MACAPAGAL

1. Payapa at Masaganang Pamayanan 11. First bank in Southeast Asia.

2. First land reform law 12. Malolos Republic
3. North Borneo (Sabah) claim 13. Filipino First
4. First woman president 14. Shortest-Serving president
5. KALIBAPI (Kapisanan sa Paglilingkod sa 15. Galleon trade
Bagong Pilipinas) 16. Tiger economy
6. Impeached and jailed president. 17. Golden Arinola
7. Barong tagalog and native attire. 18. Kapit-Bisig Laban Sa Kahirapan (KALAHI)
8. Parity rights. 19. HELLO GARCI scandal
9. End of Hukbalahap rebellion 20. Martial law (Sep. 23, 1944 – Aug. 17,
10. Longest serving president. 1945)

****End of Exam***