492. Ability of a country to produce a commodity at a lower cost compare to another d.

Government money
country 497. Financial analysis can be done for:
a. Comparative disadvantage a. Quantitative data
b. Absolute advantage b. Qualitative data
C. Absolute disadvantage C. Both a and b
d. Comparative advantage d. Finandal statements
493. Which of the following relationship between Marginal Propensity to Consume 498. The powerful bicameral body that will oversee and monitor the strict and
(MPC) and Marginal Propensity to Save (MPS) is true? successful implementation of AFMA
a. MPC MPS = 0 a. Congressional Commission on Agricultural Modernization (AGRICOM)
b. MPC- MPS 1 b. National Agriculture and Fisheries Coundil (NAFC)
Congressional Oversight Committee on Agricultural and Fisheries
C. MPC + MPS 1
Modernization (COCAFM)
d. None of the above
d. Congress
494. It represents the net income of the various unincorporated business
499. The republic act created the Agricultural Credit Cooperative Financing
enterprises. Administration
a. Depreciation
a. RA 821
b. Net income
b. RA 822
C. Proprietor's incomne
C. RA 823
d. Rental income of persons
495. It is the process in which a company introduces a new product whose sales are d. RA 824
partially derived from the sales of the company's existing products. 500. States simply that the rate of growth of GNP is determined by the national
a. Product imitation savings ratio and capital-output ratio
a. Lewis Model
b. Product deletion
b. Harrod-Domar growth model
C. Product positioning
C. Rostow's model
d. Product cannibalization
d. Dualistic model
496. The ratio of the tax to a payer's income
501. Interest bearing certificates of indebtedness
a. Tax burden
a. Bonds
b. Taxable income
b. Notes receivable
C. Lost income
GreenBMPIRE PH (www.facebook.com/greenempireph) 114
 C. Notes payable C. Neoclassical model
d. Borrowings d. Structural change model
502. Fine-tuning of the marketing mix by marketing it in a limited geographic area. 507. It is a means by which a government provides financial resources to cover a
a. Sampling budget deficit or allocated financial resources arising from a budget surplus
b. Market testing a. Insurance premiums
C. Freebies b. Financing
d. Exdusive distribution C. Investment
503. The following term refers to the value of all inputs used in production d. None of the above
a. Cash and non-cash cost 508. Indicates the product quality. Ex. Meat may be graded as choice or prime.
b. Production cost Canned fruits are grade labeled A, B, C.
C. Variable cost and fixed cost a. Brand label
d. All of the above b. Grade label
504. These are zones identified based on the network of protected areas for C. Descriptive label
agricultural and agroindustrial development d. Informative label
a. Network of Areas for Agricultural and Agro-industrial Development (NAAAD) 509. Money without intrinsic value that is used as money because of government
b. Strategic Agricultural and Fisheries Development Zones (SAFDz) decree
C. Model Farms
a. Commercial money
d. Agro-Industry Modernization Credit and Financing Program (AMCFP)
505. Type of goods that the consumers use togethe, when the price of one b. Commodity money
changes, the demand for the other good changes in the opposite direction C. Fiat money
a. Complements d. Coins
b. Independent goods 510. These costs are specific to a particular crop or livestock activity and vary more
C. Supplementary goods or less on the size of the production activity or output level
d. Normal goods a. Cash costs
506. This theory viewed the process of development as a series of successive stages b. Fixed costs
through which all countries must pass C. Variable costs
d. Non-cash costs
a. International dependent theory
b. Linear stages theory

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511. An agency whose function is to safeguard consumer safety in the use of C. Trademark
agriculture and fisheries products d. Brand name
a. Bureau of Agriculture and Fisheries Product Standards (BAFPS) 516. It consist of savings banks, private development banks, stock savings and loans
b. Hazard Analysis Criteria Control System (HACCP) associations, and microfinance.
C. Organic Certification Center of the Philippines (OCCP) a. Commercial banks
d. Bureau of Food and Drugs (BFAD)
b. Thrift banks
512. A demand in the general price level caused by a decrease in the level of
C. Specalized banks
aggregate supply
d. Rural banks
a. Demand- pull inflation
b. Cost-push inflation 517. The value of the total output or total production induding the value of
C. Depreciation products/by-products consumed or used in the farm (e.g. Sold, used for
d. None of the above Consumption, used on farm for seed or livestock feed, used for payments in kind,
513. It is a concept which represents the existence and persistence increasin9 given to others, or stored)
divergence between rich and poor nations and rich and poor people in various a. Cash income
b. Net income
levels.
a. Neoclassical CTotal sales
d. Gross in come
b. Dualism
518. The most ambitious round to date hoping to expand the competence of the
Equity GATT to important new areas such as services, capital, intellectual property,
d. Say's Law
textiles and agriculture
514. It is the difference betw gross final output and intermediate output a. Uruguay round
a. Gross domestic product b. Annecy round
b. Gross national product C. Torquay round
C. Gross domestic capital function d. Dillon round
d. Gross value added 519. The cost of purchasing a fixed input is called
515. A part of the package which carries information about the product to a. Variable cost
communicate with those who purchase or might purchase the product. b. Fixed
a. Packaging C. Overhead cost
b. Label d. All of the above
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520. The country had entered into this group in 1994 as an accession to global trade d. Non-cash costs
development 525. A market
a. World Tariff Organization a. Necessarily refers to a meeting place between buyers and sellers
b. Welfare and Trade b. Extends over the entire nation
C. World Trade and Organization C. Does not necessarily refer to a meeting place between buyers and sellers
d. World Trade Organization d. Extends over a city
521. They are export of imported goods which do not undergo physical and/or 526. It isa measure of determining which resource a country should use abundantly
chemical transformation in the Philippines. in order to be competitive in the export markets
a. Non-traditional export a. Record Company of America
b. Re-exports b. Rice and Corn Administration
C. Traditional export C.Revealed Comparative Advantage
d. None of the above d. Resonance Competitive Advantage
522. Also known as no-name, no frills, or plain wraps that consequently met an 527. A multilateral contract among member countries to gradually remove trade
importance for a lowW-cost alternative to nationally branded products protection thus allowing free trade is known as:
a. Cheap goods a. General Agreement on Tariffs and Trade
b. Imitations b. General Agreement on Trade and Taxes
C. Unbranded goods C.General Agriculture on Tariffs and Tradee
d. Generic goods d. None of the above
523. It is essentially a technique by which one can "reduce" the future benefit 528. It is the amount of money or other resources measured in terms of money
and cost streams to their present worth placed on activities or other forms of assets for the purpose of earning profit.
a. Price ceiling a. Capital investments
b. Price flooring b. Stocks
Discounting C. Subsription capital
d. Sale d. Investments
524. What constitute the value of farm output that are sold? 529. It is also called as private brands. A brand developed by the wholesaler or
a. Net income retailer who assumes the major responsibility for them. They are also called
b. Cash income private brands.
C. Gross income a. Manufacture brand
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 b. Trademark d. Indifferen ce
C. Distributor brand 535. It is also known as national brands. The producer assumes the respon sibility for
d. Brand logo the naming, pricing, promotion and product- quality decisions.
530. It refers to the length of time required to recover the capital cost of a. Manufacture brand

the project b. Trademark

a. Payback period C. Distributor brand
b. Income years d. Brand logo
C. Investment return 536. T is also called profit-loss statement. It shows firmn's earnings for the period
d. None of the above covered, usually half yearly or yearly.
531. The difference between total cash income and total cash costs a. Income statement
a. Net income b. Balance sheet
b. Gross income C. Ledger
C. Net cash incomee d. Book of accounts
d. Non-cash costs 537. The difference between total income and total variable costs
532. The function that adds place utility to a commodity
a. Net income
a. Storage b. Net cash income
b. Processing C. Gross income
C. Selling d. Gross margin
d. Transportation 538. A middleman who transform the raw agricultural products into different final
533. It refers to the cost of a self-owned or self-employed resources product is a
a. Opportunity cost a. Processor
b. Implicit cost b. Merchant
C. Fixed cost C. Agent
d. Variable cost d. Speculative
534. Utility is a measure of: 539. A good for which demand increases when consumer s increases
a. Output a. Renewal good
b. Usefulness b. Inferior good
C. Satisfaction c. Convenience good
GreenBMPIRE PH (www.facebook.com/greenempireph) 118
 d. Luxury good d. Agricultural Entrepren eurship
540. Opportunity cost is 545. The difference between gross income and total production cost. It is the reward
a. The variable cost a firm incurs by increasing output one unit to the entrepreneur's labor and management together with the return on all capital
b. The output opportunities a firm gains when average fixed cost dedine invested in the business (whether borrowed or not).
C. The value of the best alternative use of a firm's resources a. Net cash incomne
d. Another name for explicit costs. b. Net in come
541. The meaning of the word "economic" is most closely associated w/this word. C. Gross margin
a. Free d. Gross income
b. Unlimited 546. A middleman who takes ownership of and holds commodities and attempts to
C. Scarce make profit form uncertain price movement
d. Unrestricted aMerchant
542. Otherwise known as Tenant's Emancipation Decree b. Agent
a. PD 87
C. Processor
b. PD 47
d. Speculative
C. PD 27 547. The law of. states that at certain point, the resulting activities to output
d. PD 97 decreases when the use of the input is increased the real of all other inputs
543. A brand or part of a brand that is given legal protection because it is assigned constant
a. Comparative advantage
excdusively.
a. Brand mark b. One price
b. Brand label C. Diminishing return
C. Trademark d. Demand and supply
548. Economics is of Greek origin derived for the Greek word "oikonomia" which
d. Brand Packaging
means
544. It is the sum total of all operations involved in the manufacture and
a. Household management
distribution of farm supplies, production activities on the farm, storage,
b. Business management
processing and distribution of farm commodities and items made from them.
C. Classroom management
a. Agricultural economics
d. Crop management
b. Agricultural marketing
C. Agri-business
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549. Refers to the part of a brand that cannot be voclized such as its symbol, C. High
design or distinctive packaging. d. Low
a. Brand mark S54. Consists of short-term incentives to encourage purchase or sales of a product
b. Brand label or service
C. Trademark a. Advertisement
d. Brand Packaging b. Publicity
550. It is the absence of inflation or absence of wide fluctuations in prices. C. Selling

a. Price equilibrium d. Sales promotion

b. Price stability 555. A distinct unit within a product line that is distinguishable by size, price,
appearance, or some other characteristics. The item is sometimes called a stock
C. Price certainty
keeping unit, product variant or sub variant.
d. Price control
a. Product Series
551. It is a measure of profitability relative to the capital invested in the busin ess. It
b. Supplementary Goods
is also called return to capital and is the most popular indicator of profitability.
C. Product Line
a. Net present value
b. Return of investment d. Product Item
C. Gross margin 556. Producing any given level of output at minimum opportunity cost of the inputs
d. All of the abovee used in production; achieving the maximum fulfillment of wants using the available
552. The difference between the price that consumers pay for the final good and the productive resources
price received by the producers as payment of their products a. Efficiency
a. Profit b. Comparative advantage
b. Loss C. Relative advantage
C. Marketing
d. Productivity
d. Income
557. The best technique in analyzing the productivity of a component technological
553. An income level below a certain minimum amount determined by thee
intervention is by using
government, that will not adequately satisfy the basic needs for the food and
a. Enterprise final analysis
shelter
b. Partial budget analysis
a. Poverty
C. Cost and return analysis
b. Middle
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 d. Enterprise business analysis 563. He emphasized that price and output of a good are determined by supply and
558. The consumer demand for a product is called demand.
a. Derived demand a. Alfred Marshall
b. Primary supply b. Karl Marx
C. Primary demand C. David Ricardo
d. Derived supply d. John Maynard Keynes
559. The absence of government interferences in the free flow of international trade 564. Group of products within a production mix that are closely related either
a. Free trade theory
because they function in similar manner, are sold to the same costumer groups,
b. Protectionism
are marketed through the same types of outlets, or full within the given price
C. Open economy
ranges.
d. Laissez fare
a. Product Series
560. It is a set of interdependent organizations involved in the process of making a
b. Supplementary Goods
product or service for use or consumption by the consumer or industrial user.
C. Product Line
a. Middlemen
d. Product Item
b. Wholesalers
565. It is the basic building block in the logic of the economist. It is a
C. Agents
conceptualization, based on assumptions of how economic activity occurs
d. Distribution channel
561. The bulk of Philippine government expenditures is accounted for by: a. Economic theories
a. Maintenance and other operating expenses b. Economic models
b. Debt services C. Supply and demand
C. Capital outlay d. None of the above
d. Personal services 566. Break-even point is a condition when a project is:
562. A hypothetical or imaginary unit of utility a. Returns above variable cost of a traditional technology equates with the
a. Gram returns above costs of new technology
b. Util b. Not gaining nor losing
C. Liter C. Total revenue is equal to total cost
d. All of the above
d. B&c are corredt
567. Buyers who intend to directly consume a product or service constitutee
a. Reseller market
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 b. Industrial market Convenience goods
C. Consumer market b. Specialty Goods
d. Government market C. Staple goods
568. An indirect tax expressed as a fixed amount per unit of the good or resource
d. Shopping goods
being taxed rather than varying with price
573. It means a condition in which the value of the nation's import is greater than
a. Ad valorem tax
the value of its exports or dipping into currency reserves
b. Specific tax
a. Trade deficit
C. Tariff
b. Trade imbalance
d. Lump sum tax
C. Trade equilibrium
569. It is anything that can be offered to a market for attention, acquisition, use or
consumption that might satisfy a want or need. d Trade inequality
a. Product 574. The best tool in comparing the potential benefits that would be derived from
b. Assets two separate technologies
C. Resources a. Benefit cost ratio
d. Promotion b. Return on investment
C. Marginal cost ratio
570. A devaluation refers to
d. Partial budget analysis
a. A decrease in the value of foreign currency in terms of domestic currency
575. These are product handlers who serve as the last link in the marketing channel
b. An incarease in the value of foreign currency in terms of domestic currency
a. Retailers
C. An increase in the value of domestic currency in terms of foreign currency
b. Wholesalers
d. None of the above
C. Commission agents
571. The lowest point of real GDP at the end of recession is known as
d. Assembler wholesalers
a. Peak
576. A tax that is fixed in amount, not depending on the quantity of the good or
b. Recession
resource that is being taxed
C. Trough
d. Recovery a. Lump sum tax
b. Specific tax
572. Products for which consumers are unwilling or unable to accept substitutes.
C. Ad valorem tax
Consumers may become very loyal to a particular rand of a product ex. expensive
d. Tariff
stereo, antiques. Other types might include medicinal supplies (food supplements)
577. A price reduction to reward customers for paying bills on time.
for which no reasonable substitute exits.
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 a. Volume discount d. Marketing services
b. Functional discount 582. The value placed on goods and services offered to the publicis
C. Seasonal discount a. Price
d. Cash discount b. Money
578. Known as the magna cata of small farmers C. Cost
a. RA 7607 d. Profit
b. RA 7608 583. A planning period when all inputs are variable
C. RA 7609 a. Short run
d. RA 7610 b. Long run
579. Products for which the consumer expends considerable effort comparing
C.Very short run
suitability, price, quality and style ex. Women's suit, furniture, and bicyde. d. All season
a. Convenien ce goods 584. It is a name, design or symbol (or a combination of these) that identifies the
b. Specialty Goods products of a seller or group of sellers.
C. Staple goods a. Design
d. Shopping goods b. Trademark
580. These are foreign assets held by the Central Bank as a cushion against national C.Advertisement
economic misfortunes. Reserves consist largely of gold, but today the CB's d. Brandd
reserves include substantial foreign financial assets, specifically the US dollar 585. The capacity of an economy to generate and sustain an annual increase in its
assets such as Treasury Bills. GNP at rates Of perhaps 5 to 70/6 or more known as
a. International reserves a. Harrod-Domar growth model
b. Lewis model
b. Reserve money
C. Development
C. Foreign deposits
d. Dualism
d. Banks reserves 586. Which of the following is consistent with a tight monetary policy?
581. A function performed on a product that dhanges its form, time, place, or a. Low interest rates
possession characteristics b. An inrease in money supply
a. Facilitating function C. High reserve requirement
b. Physical function d. Subsidized interest rates to borrowers
C. Functional approach
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587. A type of consumer goods which are goods purchased on minimum of shopping d. Durability
efforts usually available in retail outlets 592. A pricing approach where the seller sets price in accordance with competitors
a. Shopping goods a. Target profit pricing
b. Convenience goods b. Competition-based pricing
C. Specialty goods C. Demand- based pricing
d. Cost-based pricing
d. Local goods
593. It is a concept which represents the existence and persistence increasing
588. These are simply checks drawn by one bank to another, sometimes used
divergence between rich and poor nations and rich and poor on various levels
instead of telegraphic transfers.
a. Neodassical
a. Personal Checks
b. Dualism
b. Bank drafts
Equity
C. Promissory notes d. Say's law
d. Bank orders 594. The narrowest measure of money supply is called M1. It consists of currency
589. An approach in the analysis of marketing problem that deals with the various plus:
agencies, organizations and business structures in the marketing process a. Time deposits
a. Community approach b. Checking deposits
b. Market-structure Savings deposits
C. Marketing approach The amount of outstanding government
d. Institutional approach 595. Goods that are products that are be sold primarily for use in producing other
590. The refers to the consumers and customers for the goods and services goods or rendering services, as contrasted with goods destined to be sold primarily
produced by as enterprise to the ultimate consumer
a. Market a. Industrial goods
b. Buyers b. Consumer goods
C. Users C. Incomplete goods
d. All of the above d. Shopping goods
591. It refers to the ease with assets can be converted into cash or other assets
596. It is the price in domestic currency of a unit of foreign exchange example the
a. Solvency
Peso per dollar (Php/$). It measures how many pesos are required to buy a dollar
b. Profitability
worth of goods.
C. Liquidity

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 a. Peso value 601. States simply that the rate of GNP is determined by the national savings ratio
b. Foreign exchange and the capital-output ratio
C. Export a. Lewis model
d. Exchange rate b. Rostow's model
C. Harrod-Domar growth model
597. A major specialized activity performed in accomplishing the marketing process,
d. Dualistic model
a. Buying and selling function
602. It is the entire set of benefit of the product provides to the costumer.
b. Processing function
a. Satisfaction
C. Fadilitating function
d. Marketing function b. Produt warranty
598. When total revenue is equal to total cost, this is the point of Total Product Concept
a. Break-even point dProduct use
b. Shutdown point 603. It refers to the currency of countries other than one's own used to make
C. Loss minimization point international payments.
d. Profit maximization point a. Foreign market
599. The goods that have similar function or use so that when price of one changes, b. Foreign exchange
the demand for the other good changes in the same direction
C. Export
a. Complements
d. Exchange rate
b. Substitutes
604. A series of services involved in moving the product from the point of production
C. Supplements
to the point of consumption
d. Indepen dent goods
a. Marketing operations
600. A priäng strategy where the firm charges the same price to all austomers who
b. Marketing
seek to purchase a good or service under similar conditions. A pricing strategy
Marketing channels
where the producer purposely limit the number of middlemen handling the
d. Marketing functions
products. 605. The form of market organization in which there is a single firm produing a
a. Flexible pricing commodity which there is no substitutes
b. One-price policy
a. Purely monopoly
C. Customary pricing
b. Monopolistic competition
d. Variable pricng C. Oligopoly
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 d. Perfectly competitive a. Cost of transactions
606. The excess of the labor over total employment b. Long term expenditure
a. Over employment C. Company cost
b. Under employment d. Budget determination
C. Unemployment 612. Measures the differen ces between sales of assets to foreigners and purdhases
d. Surplus labor of assets located abroad.
607. A distribution strategy where the producer purposely limit the number of a. Exports
middlemen handling the produts.
b. Capital account
a. Intensive distribution
C. Transfer payments
b. Selective distribution
d Investment income
C. Exclusive distribution
613. One who buys commodities from the market
d. Extensive distribution
a. Consumer
608. The _is the major contributor to the country's gross national income
b. Customer
a. Agriculture and fishery sector
C. Mother
b. Forest factor
d. Decision maker
C. Service factor
614. If the government imposed price ceiling, who are benefited
d. Service factor
a. Government
609. A dimension of market conduct
b. Producers
a. Degree of product differentiation
C. Consumers
b. Firm's product policy
d. Producers and consumers
C. Degree of market knowledge
615. The average number of times that the peso is spent each year to purchase
d. Goals of the society
goods and resources in the economy
610. It refers to how fast money is turned over in the economy
a. Turn-over of money
a. Velocity
b. Quantity theory of money b. Frequency of money
C. Monetary base C. Velocity of money
d. Currency to deposit ration d. Money ratio
611. It refers to the amount expenditure of the company over extended times 616. The marketing services performed alter the product characteristics which
Considerations fall on spends of company's funds. indude
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 a. Form, time, place, and possession characteristics b. Shortage
b. Form, time, odor, and weight characteristics C. Equilibrium
C. Form, time, weight, and shape characteristics d. Surplus or shortage
d. Shape, size, weight, and odor characteristics 622. It describes the physical relationship between the inputs of a firm and the
617. The strongest factor that attracts ofws to leave the Philippines output of goods and services at a given point of time
a. Higher pay a. Production function
b. Better working conditions b. Consumption function
C. Chances of advancement CProduction possibility function
d. Socal factors d. Indifference curve
618. Remittan ces of domestic residents working abroad, gifts and grants. 623. One of the approaches to the study of marketing that answers the question
a. Exports What" in who does what is
b. Imports a. Institutional approach
C. Transfer payments b. Consumer approach
d. Investment income C. Functional approach
619. Makes possible the smooth performance of both the exchange and physical d. Survey approach
functions 624. The permanent loss of professional workers ina country's labor force is called
a. Buying a. Brain drain
b. Selling b. Brawn
C. Market Intelligence C. Resource drain
d. Transportation d. People drain
620. The point of usual first sale by farmers, typically at the farm or at the farmer's 625. Desire for a product together with the capacity to buy that product
home is called a. Demand
a. Point of consumption b. Income effect
b. Point of production C. Effective demand
C. Point of equilibrium d. Income elasticity of demand
d. Point of marginalism 626. Market share. It is seen as a viable objective of the product. It refers to the
621. When the government imposed price support or floor price the result will be company's penetration on the market in the hands of several major competitors.
a. Surplus a. Market function

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 b. Market cost a. Functional approach
C. Market share b. Structure conduct performance approach
d. Market margin C. Market study approach
d. All of the above
627. It consists of international interest and dividend payments and the earnings of
632. Zero government interference in the flow of imports and exports
domestically owned firms operating abroad
a. Free trade
a. Exports
b. Duty-free
b. Imports
C. Free flow
C. Transfer payments
d. Barter
d. Investment income 633. He is the leading exponent of the linear stage theory
628. Which one does not belong to the 4P's of marketing? Walt Rostow
a. Product b. Adam Smith
b. Price C. Milton Friedman
C. Place d. Paul Samuelson
d. Purchase 634. It is the absolute difference in price, the absolute margin divided by the selling
629. Agricultural products havesupply
price,
a. Inelastic a. Absolute constant margin
b. Elastic b. Percentage margin
C. Unitary
C. Marketing function
d. Perfectly elastic
630. It is called the devotion of all resources for the production of the product where d. Market share
one has relative efficiency 635. It refers to the domestic expenditures on foreign goods.
a. Specialization a. Exports
b. Mono cropping b. Imports
C. Diversification C. Transfer payments
d. Integration d. Investments
631. Another approach to the study of marketing that deals with the organization of
636. The point where marketing ends or it is the point of last purchase or sale refers
the market as it influence the nature of competition and pricing including the to
pattern of behavior of firms.
a. Point of consumption
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 b. Point of equilibrium 641. A dynamic theory usually describing demand and supply movements of
C. Point of break even agricultural products
d. Point of marginalism a. Eagle's law
637. It is the combination of inflation and stagnation characterized high rates of b. Cobweb theorem
unemployment C. Law of one price
a. Inflation d. Law of demand and supply
b. Stagflation 642. The ration of the price of goods exported to the price of the goods imported
C. Deflation a. Price ratio
d. Recession b. Export ratio
638. Characteristics of the product is one of the problem areas in agricultural C. Import ratio
marketing. One of the characteristics named below is not d Terms of trade
643. The effect of a price change is always negative as consumers tend to substitute
a. Bulkiness
b. Perishability other goods resulting to a decrease in quantity demanded
C. Quality a. Substitution effect
d. Seasonability of production b. Income effect
639. This theory states that a nation's resources are nonrenewable and can C.Giffen paradox
contribute to economic development only up to a certain point. Such viewed d. Inferior good
phenomenon is related to the law of diminishing returns. 644. It refers to the expenditures of the foreigners on domestically produced goods
a. Adam Smith's theory a. Exports
b. Ricardian theory b. Imports
C. Charles Darwin theory C. Transfer payments
d. None of the above d. Investments
640. It refers to the differen ce between prices and risk capital in the
645. A type of marketing margin expressed in terms of pes0s and are constant
entrepreneurship at the different level of the marketing system. overall quantity ranges. In other words, regardless of the value marketed, the
a. Marketing function absolute peso difference between prices at various levels remains constant.
b. Marketing Margin a. Absolute constant margin
C. Profit b. Percentage margin
d. Market cost C. Combination of fixed/constant and percentage margin

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 d. Mark-up a. Cooperative preparation
646. A bype of marketing efficiency concerned with improving the buying, selling and b. Cooperative education
pricing aspects of marketing process so that it will remain responsive to the C. Cooperative session
Customer direction. d. Cooperative ground work
a. Operational efficiency 651. Natural person or corporate body that takes calculated risks in mobilizing9
b. Pricing efficiency human, material and finandal resources, bringing them together and
C. Technological efficiency organizing them with a view to achieve a pre-determin ed objective
d. A and B a. Entrepreneur
647. Which of the following is NOT true about Agent middlemen? b. Middlemen
a. They act as representative of dients Retailer
b. They do not take title to and therefore do not the products handled d. Producer
C. Their income is in the form of fees and commission 652. Process of acquisition and management of human and material resources with
d. They process raw materials and market the finished products the aim of creating, developing and carrying out measures that allow the
648. Done either to change the form or to aid the preservation of the product to needs of individuals or groups to be met
make it available for longer periods of time. a. Procurement
a. Carrying b. Planning
b. Freezing C. Resource management
C. Drying d. Entrepreneurship
d. All of the above 653. Represents the hierarchical organization of the cooperative movement notably
649. The most important resource in cooperative through the Unions, Federation and Confederations of cooperatives
a. Land a. Horizontal integration
b. Capital b. Diagonal integration
C. Human C. Linear integration
d. None of the above d. Vertical integration
650. Set of practices and means used to make members aware of the cooperative 654. The collaboration of cooperatives operating at the same level.
principles and advantages a. Horizontal integration

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 b. Diagonal integration Product and brand positioning
C. Linear integration b. Product cannibalization
d. Vertical integration C. Product and brand deletion
655. The main purpose of a cooperative d. Evaluation of produt and brand performance
a. Economic gain 660. Which of the following does not belong to the theories of liability?
b. Advancement of members a. Negligence
C. Education b. Determine cost
d. Financial freedom C. Analyse competitor's price
656. Known as national brands d. None of the above
a. Manufacturers' brands 661. Which of the following does not belong to the group?
b. Distributors' brands a. Seasonal Price Variations
C. Retailers' brands b. Annual Price Fluctuations
d. None of the above C. Regular Price Movement
d. None of the above
657. Known as private brands
662. Which pf the following is not a manufacturer's strategy?
a. Manufacturers' brands
Skimming the market
b. Distributors' brands
b. Moving down the demand curve
C. Retailers' brands
C. Unit pricing
d. None of the above d. Formula pricing
658. Process in which a firm tries to reate perception in consumer's mind as to 663. They are active in buying and selling of goods and often have far reaching
where a given product or brand fits in relation to competing products or brand influence on the nature of marketing.
a. Product and brand positioning a. Merchant middlemen
b. Product and brand cannibalization b. Agent middlemen
C. Produdt and brand deletion C. Processors and manufacturers
d. Evaluation of product and brand performance d. Market Organizations
659. Process in which a company introduces a new product whose sales are partially 664. Type of intermediaries most prevalent in fruits and vegetables.
derived from the sales of the company's existing products. a. Contract buyers

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 b. Wholesalers d. None of the above
C. Commission agent 670. Covers activities which sometimes called merchandising
d. Wholesaler-retailer a. Exchange function
665. They do not sell significant amounts to ultimate consumers b. Buying function
a. Contract buyers C. Selling function
b. Wholesalers d. None of the above
Commission agent 671. Concerned with marketing goods available at the desired time
d. Wholesaler-retailer a. Storage function
666. They sell mainly to retailers on wholesale bases but they also retail to rest and b. Transportation function
maintain permanent stalls in the market CProcessing function
a. Contract buyers d Standardization function
b. Wholesalers 672. Returns to the factors of production used in providing the processing and
C. Commission agent marketing services rendered between the farmers and consumers
d. Wholesaler-retailer a. Marketing cost
667. Localy known as viajeros1 that sell products on wholesale basis b. Marketing charges
a. Commission agent C. Net return
b. Assembler-wholesaler d. None of the above
C. Butcher-retailers 673. Returns according to the various agencies or institutions involved in the
d. Retailers marketing of products
668. Product oriented rather than marketing function oriented study of marketing Marketing cost
a. Commodity approach b. Marketing charges
b. Institutional approach C. Net return
C. Production approach d. None of the above
d. None of the above 674. Series of figures representing the absolute margins of different types of
669. Covers activities that involves transfer of title of goods middlemen or assignable to different marketing functions, divided by the
a. Exchange function retail price
b. Buying function a. Breakdown of consumers' peso
C. Selling function b. Absolute margin
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 C. Marketing margins of all middlemen C. Durable goods
d. None of the above d. None of the above
675. Goods purchased on minimum of shopping efforts usually available in retail 680. An explicit statement in writing or conversation or in advertising, labelling, or
outlets any other form of promotion.
a. Convenience goods a. Express warranty
b. Staple goods b. Implied warranty
C. Impulse goods C. Strict warranty
d. Emergency goods d. None of the above
676. Goods purchased routinely with some re-planning to minimize the time and 681. Which of the following is NOT true about promotion?
effort to make the purchase a. Make buyers aware of the alternative goods and services that exist
a. Convenience goods b. Shorten the distance between the market and the manufacturers by
b. Staple goods keeping buyers well-informed about the different products.
C. Impulse goods C. Help regulate the level and timing of the demand
d. Emergency goods d. None of the above
677. Goods purchased with out planning prior to entering the store 682. Which of the following can be a method to promote a product?
a. Convenien ce goods a. Advertising
b. Staple goods b. Sales promotion
C. Impulse goods C. Publicity
d. Emergency goods d. All of the above
678. Goods purchase to meet unexpected need 683. The demand for real money balances increases if the interest rate
a. Convenience goods a. Goes up
b. Staple goods b. Goes down
C. Impulse goods C. Balances
d. Emergency goods d. None of the above
679. Goods where consumers spends considerable effort comparing suitability, price, 684. The BSP the reserve requirement if it wants to raise money supply
quality an style a. Change
a. Shopping goods b. Lowers
b. Specialty goods C. Increases
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 d. None of the above Autorky
685. Which of the following is NOT true about money creation? d. None of the above
a. Refers to the few expansion of deposits 690. Money serves asa unit of
b. Banks have no desire to hold excess reserves a. Credit
C. Depository in stitutions issue only transaction accounts b. Account
d. B andC C. Savings
686. Represents liabilities of BSP to the public sector in the form of currency in d. Deposit
circulation and to the bank sector in the form of cash reserves 691. Represent changes in the assets of the monetary authorities that can be used
a. Currency for balance of payments purp0ses.
b. Savings a. Reserve assets
C. Reserve money b. Related assets
d. Money supply C. Finandcal assets
687. Arises from the need of household and firms to have money for the regular d. Capital assets
payment of goods and services 692. Represents transactions inequity capital, reinvested earnings, etc.
a. Transactions demand for money a. Current investment
b. Precautionary denmand for money b. Outflow investment
C. Speculative or portfolio allocation motive cPortfolio investment
d. All of the above d. Direct investment
688. Involves the promise to pay a debt which is evidence by a piece of paper 693. Summary of the transactions between residents and non-residents of a country
backed by specie over a gin period
a. Cheque a. Balance of payments
b. Bank note b. Record of payments
C. Promissory note C. Tracking of payments
d. All of the above d. Economic payments
689. Refers to family or tribal group, which in the absence of trade, produces the 694. Which is not true about deflationary gap?
level of goods and service equal to their consumption. a. Exist when AE < Y at Yf
a. Autarky b. There is pressure for a decrease in output
b. Barter system C. Implies unemployment
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 d. None of the above d. None of the above
695. A collective term that refers to the use of taxation and government to influence 700. Which of the following is not true about GDP?
the level of income a. High values of GDP do not always correspond to high standards of living
a. Budget policy b. GDP does not capture income distribution
b. Income policy C. Does not include transactions that do not go through organized markets
C. Taxation policy d. None of the above
d. Fiscal policy 701. Measures how much output or income was produced or received, on the
696. Income that household are free to spend and save average, by an individual in an economy
a. Disposable income a. Nominal GDP
b. Free income b. Real GDP
C. Household income GDP per capita
d. All of the above d. GDP deflator
697. Which of the following is not true according to paradox of thrift? 702. Known as GDP at current prices
a. Higher savings leads to higher income a. Nominal GDP
b. Equilibrium income falls when people want to save more b. Real GDP
C. Higher savings may reduce equilibrium income C. GDP per capita
d. B andC d. GDP deflator
698. Measures the change in income for a unit change in an autonomous component 703. Known as GDP at constant prices
of aggregate expenditure a. Nominal GDP
a. Marginal propensity to save b. Real GDP
b. Inflation rate CGDP per capita
C. Multiplier d. GDP deflator
d. None of the above 704. The following are approadhes to measure GDP except
699. Measures changes in the cost of purchasing a given bundle of goods that are a. Expenditure
bought by the average household. b. Income
a. Consumer price index C. Value-added
b. Producer price index d. None of the above
C. Manufacturer price index
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705. Involves a set price imposed by the government to enhance thee welfare of the 710. The following are determinants of price elasticity except
consumers. a. Availability of substitutes
a. Price regulation b. Time frame
b. Specific price C. Location along demand curve
C. Marginal price d. None of the above
d. Minimum price 711. Which of the following does not affect supply?
706. Which of the following is NOT true about monopoly? a. Prices of resources
a. Being a monopolist does not ensure the firm instant profit b. Technology
b. The firm can impose any price it wants C. Number of producers
C. The firm cannot maximize profit at the inelastic portion of the market d. None of the above
demand curve 712. A shift in the entire supply curve as a result of changes in other factors
d. None of the above affecting supply
707. Which of the following happens in fixed and variable inputs over time? a. Change in quantity supplied
a. Fixed input will be more costly than variable inputs b. Change in supply
b. Fixed input will be less costly than variable inputs C. Both a and b
C. All inputs will be variable over time d. None of the above
d. All inputs will be fixed over time 713. Which of the following is NOT true about consumer expectations?
708. The physical relationship between the inputs of a firm and their output of goods a. Expedtations about future prices and in come affect current demand for
and services at given period of time goods and services
a. Production function b. Expectations of higher prices inreases current demand
b. Production analysis C. Expectations of lower prices reduces current demand
Production cost d. None of the above
d. All of the above 714. Higher income lowers demand of these goods
709. Which of the following is NOT true about price ceiling? a. Normal goods
a. The maximum price policy b. Inferior goods
b. The upper limit of price C. Substitute goods
C. Effective above equilibrium price d. Complement goods
d. None of the above
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715. A shift in the entire demand curve as a result of changes in other factors 720. The rate of interest in which BSP lends to banks
affecting demand a. Rediscount rate
a. Change in quantity demanded b. Reserve rate
b. Change in demanded C. Interest rate
C. Both a and b d. Bank rate
d. None of the above 721. Demand for money is primarily determined by
716. Which of the following statements is true? a. Level of real output
a. When price of a good increases, the consumer substitutes the lower priced b. Income
good for the more expensive ones C Interest rate
b. When price decreases, the consumers real income increases, so he tends to d. All of the above
buy more 722. This solves the problem of adulteration and short weighing of money, however
C. Both a and b other problems came up
d. None of the abovve a. Bank note
717. Which of the following causes outward shift in the PPF b. Coinage
a. Better production techniques C. Electronic fund
b. More workers d. Banking
C. More capital 723. Deflationary gap can be eliminated by
d. All of the above a. Expansionary fiscal policy
718. Economics that answers the question "what sh ould be'? b. Contractionary fiscal policy
a. Macroeconomics C. Both a and b
b. Microeconomics d. None of the above
Positive economics 724. Inflationary gap can be eliminated by
d. Normative economics a. Expansionary fiscal policy
719. Economics came from the Greek word b. Contraction ary fiscal policy
a. Eikonomis C.Both a and b
b. Ekonomia d. None of the above
C. Oikonomia 725. Which of the following statements is true?
d. Oikonomiks a. Budget surplus: revenues expenditures
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 b. Budget deficit: revenues expenditures C. GDPx Net factor income from abroad
c. Both a and b d. GDP/ Net factor income from abroad
d. None of the above 731. GDP
726. Locus of points depicting the relationship between savings and income a. Wages +rent + interest + profit
a. Savings schedule b. Wages rent interest profit
b. Income schedule C. Wages + rent- interest + profit
C. Both a and b d. All of the above
d. None of the above 732. Fixed amount of tax levied on a producer
727. Aggregate expenditure is the total amount that all economic agents want to a. Fixed tax
spend on domestic goods or services b. Lump sum tax
a. True Specific tax
b. False d. None of the above
C. It depends 733. Largest vertical difference between total revenue and total cost
d. Not all the time a. Maximum profit
728. Indicates the change in the cost of purchasing a given bundle of goods in one b. Minimum profit
year relative to another CBoth a and b
a. Price update d. None of the above
b. Price index 734. The following are types of industries except
C. Equilibrium price a. Constant cost industry
d. None of the above b. Increasing cost industry
729. GDP deflator is a price index that converts C. Decreasing cost industry
a. Nominal o real GDP d. Inreasing-decreasing cost industry
b. Real GDP to nominal 735. The following are characteristics of perfectly competitive market except
C. Both a and b a. Smallness of buyers and seller relative to the market
d. None of the above b. Homogenous product
730. GNP = C. Presence of artificial restraints or controls
a. GDP + Net factor income from abroad d. Perfect mobility of goods and resources
b. GDP- Net factor income from abroad 736. Average variable cost =

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