Republic of the Philippines

Department of Education
Region V
SCHOOLS DIVISION OF MASBATE PROVINCE
EASTERN CAPSAY INTEGRATED SCHOOL
Eastern Capsay, Baleno, Masbate

SUMMATIVE TEST IN APPLIED ECONOMICS

1st Quarter
GRADE 11-GAS

I. Directions: Match Column A with Column B. Write the letter of the correct answer on the space provided
before each number.
A. B.
______1.  It represents the potential benefits an individual, a. Econometrics
investor, or business misses out on when choosing one b. Opportunity Cost
alternative over another. c. Applied economics
______2.Application of statistical and mathematical theories d. Absolute Scarcity.to
economics to test hypothesis and forecast future trends. e. Scarcity
______3. It is where the supply of a good is naturally limited. f. trade-offs
______4. What is the root cause of all economic problems?
______5. It is the study of observing how theories work in practice.

II. Directions: Match the central economic issues and problems by choosing the description of economic
problems in the box. Write the letter of your choice on the space provided before each number.

a. the legalities of the production. c. the allocation among the members of the society.
b. the nature of goods to produce. d. the methods of production.

_____6. What to produce

_____7. How to produce
_____8. Whom to produce
_____9. What provision in the production of products.

III. Directions: Read each scenario, choose from the given decision to help you decide what to do in the
two scenarios and answer the questions that follows.
Scenario A.
It’s Sunday night and you need to prepare yourself for a test tomorrow. You have 3 options.
A. Study for your big social studies test tomorrow (you are almost failing this class).
B. Play the new video game with all your friends.
C. Watch the prime time sporting event featuring your favorite team.
QUESTIONS:
10. What would you do?
____________________________________________________________________________________
____________________________________________________________________________________
____________________________________________________________________________________

11. What is the opportunity cost of your decision?

____________________________________________________________________________________
____________________________________________________________________________________
____________________________________________________________________________________
 12. What are the trade-offs of your decision?
____________________________________________________________________________________
____________________________________________________________________________________
____________________________________________________________________________________

Scenario B:
Suppose you have completed your basic education which is the K-12 program. Your parents are
expecting you to have a job after you graduated in Senior High School. If you are the one to decide, what
will you do?
A. Pursue Bachelor’s Degree
B. Look for a job immediately
C. Pursue your studies and be a working student.
QUESTIONS:
13. What would you do?
____________________________________________________________________________________
____________________________________________________________________________________
____________________________________________________________________________________

14. What is the opportunity cost of your decision?

____________________________________________________________________________________
____________________________________________________________________________________
____________________________________________________________________________________

15. What are the trade-offs of your decision?

____________________________________________________________________________________
____________________________________________________________________________________
____________________________________________________________________________________

IV. PERFORMANCE TASK

Using the concept map, list down the examples of basic economic problems our country is currently facing.

Match
Match Set A or the central
economic
issues and problems to Set B or the
description of economic issues.
Match Match
ECONOMIC
PROBLEMS
 Match Match
Choose 1 basic economic problem from the concept map and think of the possible solution/s to this economic
problem. Write your answers below.

_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________

Your output will be rated using the rubric below.

CATEGORY 4 3 2 1
Ideas Ideas were Ideas could have Ideas were The letter seemed
expressed in a been better as were somewhat to be a collection
clear and expressed in a organized but were of unrelated
organized fashion. pretty clear not very clear. It sentences. It was
It was easy to manner, but the took more than one very difficult to
figure out what the organization. reading to figure figure out what the
letter was about. out what the letter letter was about.
was about.
Content Accuracy The letter contains The letter contains The letter contains The letter contains
all accurate facts all mostly accurate all some accurate no accurate facts
about the topic. facts about the facts about the about the topic.
topic. topic.
Sentences and Sentences and All sentences and Most sentences are Many sentences
Paragraphs paragraphs are paragraphs are complete and well- fragments or run-
complete, well- complete, well- constructed. on sentences OR
constructed and of constructed (no Paragraphing paragraphing needs
varied structure. fragments, no run- needs some work. lots of work.
ons). Paragraphing
is generally done
well.
REFERENCE:
Opportunity Cost Definition (investopedia.com)
absolute scarcity definition in economics - Search (bing.com)
simple and short scoring rubric in essay writing - Bing images

Prepared by: Noted:

JELCA R. VALDEMORO REZEL M. LUMBAO

T-II/ SHS TEACHER T-III/OIC

Republic of the Philippines

Department of Education
Region V
SCHOOLS DIVISION OF MASBATE PROVINCE
EASTERN CAPSAY INTEGRATED SCHOOL
Eastern Capsay, Baleno, Masbate

Summative
Test
APPLI
ED
ECON
OMICS
NAME: ___________________________________________________________
GRADE LEVEL: ___________________________________________________