Republic atte lipines Bepartment of Couration FINAL QUARTER EXAMINATION SECOND SEMESTER DIVISION UNIFIED TEST IN SHS - APPLIED ECONOMICS NAME: SCHOOL:, DATE:, General Instruction: Read and evaluate each statement carefully. Choose the best answer from the given choices. Encircle the letter of your answer. 1. What term refers to a company whose primary goal is to make money? @Autonomy @®)Profitability © BigIdea QD Scalability 2. Which of the following brand of soda that isa replacement for a Coca-Cola product? Merinda Q@Sarsi © Pepsi QDsSeven-Up 3, Which benefit arises when a company is able to provide a product of comparable quality but at a lower cost than its rivals? Differentiation (B)Defensive Strategy © Alliance © Cost Leadership 4. Companies have the tendency to distance themselves from competitors. Which of the following strategy of Porter's market forces will ward off competitors by maintaining the high level barriers to entry? @Old Entrants ©Potential Entrants ©Customer Shifters @Q) Competitive Advantage 5. Gie and Rose have been reunited as blood sisters some years before their retirement ages. They decided to put up a home-baked cakes with P50,000 initial capital. Rose in charge of baking while Gie is in charge of accounting and order-taking, After several years of micro-management and where sickness and old age would come in, what best possible scenario will happen to the business? @ As old age come in, more eventual advantageous consequences. As old age come in, more eventual disadvantageous consequences. ‘The older the sisters get, the lesser the chance of maintaining the profit be, ® The older the sisters get, the more profit will be considering mastery and expertise. 6. How do barriers to entry affect the number of potential producers in an industry? @® The lower the barriers to entry, the more producers there will be. The lower the barriers to entry, the fewer producers there will be. As barriers to entry rise, more and more producers join the industry. © Barriers to entry do not have substantial effect on the number of producers. 7. Among the choices, which of following does NOT belong to the group? @® Close-Up @®Pepsodent © Head and Shoulders @) Beam 8. A group of firms that manufactured final goods offered to domestic and international markets is called ? @ Enterprises ®)Logistics © Industries @Trade 9. Soft goods includes medicines, cosmetics, and stationery signify to what other term? Arts Enterprises) Hard goods © Consumables substitutes 10. The following choices are examples of agribusiness, except? @® Corn Farming CB Hog Raising © C Poultry Farming) D Water Drinking Business 11, Which type of industry that extraction of raw materials includes mining activities, forestry, and fishery for human utilization?@Primary @®Secondary © Tertiary @® Quaternary 12. During pandemic, hospitals and health care services are essential and these are classified as ? @®Primary @®Secondary © Tertiary @® Quaternary 13. Onion prices have soared since September 2022 reaching their peak of Php 400-700 per kilogram, even higher than the world price by $2 or Php100. To address this issue, the government, headed by the Department of Agriculture, put a price ceiling to eventually bring back prices to P80-100 per kilo. Which of the following two industries are involved in this situation? @® Primary and Secondary Industries @®) Primary and Tertiary Industries Primary and Quaternary Industries Primary and Quinary Industries 14, How can a business firm disclose the information on the contents and quality of products and services they are selling? @ Trademarks on design ®) Labelling of expiry dates Differentiation in the product Advertisement of the product 15, This industry employs man and machinery to process raw materials (intermediate goods) into final goods, @ Agribusiness @®) Manufacturing Retail and Services International Trade 16. Which of the product certification bodies that regulate quality and assurance of food and medicines? @ Import Commodity Clearance (ICC) ®) Bureau of Philippine Standards (BPS) Bureau of Food and Drugs Association (FDA) International Organization for Standardization (ISO) 17. Why is itimportant for companies to evaluate managerial decisions using a SWOT Analysis? @® Itanalyzes strengths, weaknesses, opportunities and time, @®) Itanalyzes strengths, weaknesses, obligations and threats. 8 It analyzes strengths, weaknesses, opportunities and threats. Itanalyzes strong points, weak points, opportunities and threats. 18, Noriel, a budding entrepreneur, in his first steps of management, should consider determining the feasibility of a new project or expansion project by determining @) Internal opportunities and threats. ®) Internal strengths and weaknesses. External strengths and threats as well. External weaknesses and opportunities. 19, Axel has conducted a SWOT analysis in his firm, What should his next steps be? @® Making sure that strengths are offset by weaknesses and opportunities turned into threats. @) Making sure that opportunities are offset by threats and strengths turned into weaknesses. Making sure that weaknesses are offset by opportunities and threats turned into strengths. Making sure that weaknesses are offset by strengths and threats turned into opportunities. 20. When buyers are able to join together to put pressure on a supplier, this is which of Porter's Five Forces? @ Competitive rivalry ®) Threats of new entrants ‘Threat of substitute products Bargaining power of customers21. According to the 8-Point Socioeconomic Agenda in the near term, with a total national budget of PHP5.268 trillion, all of these are the immediate concerns of the economic efforts of the current administration except. @ Education ®) Health Care © Food Security ©) Population Growth 22. When suppliers are limited or inputs are scarce, which of Porter's Five Forces are at play? @® Competitive rivalry @®) Threats of new entrants ‘Threat of substitute products Bargaining power of suppliers 23, Situational analysis will ensure all of the following except @ Work environment for what it does well. @®) Work environment for what it needs improvement. Work environment for where likely the company will grow. Work environment for where likely the company will stagnate. 25. Filipinos searching for greener pastures resulting to reduction of quality and quantity of human capital in a phenomenon called “brain drain” is attributed to an issue on, @ Poverty ®) Inflation Migration Foreign Exchange 26. Direct employment may be expensive for the business, It has a number of positive effects in the laborers. Which among the choices is NOT considered as the positive effect of direct employment? @ Security of tenure Higher compensation Lowering transport cost Additional monetary benefits 27. Due to the monopoly in selling products, the company will be able to sell products which will have inelastic demand curve. What will happen to their profit? @® No profit @®) Minimal profit 8 Medium profit High profit 28. In sourcing for managers and professionals, how does home-grown managers became a disadvantage? @) Large cost for pay/salary @®) Their loyalty is not assured In-house trainings can be expensive They may lack dynamism and creativity 29. These are examples of investments except @® Land, building, commercial space for the business. ®) Expensive technologies inappropriate for the business. Machines, equipment, tools used in the operation of the business. Human resources such as waiters, product specialists, cashiers, security guards etcetera 30. Which of the following taxes are being paid in the local government unit? ® Export taxes ®) Import taxes Business taxes Value added taxes31. Miss Leah, a fresh graduate of a university, will be joining the job-seeking sector or the potential labor force of the economy. If she will not get a job in a couple of weeks or months of searching, she will be counted as part of this sector. @® Employed @®) Unemployed g Underemployed Hidden unemployed 32. According to the theory of comparative advantage, a country will export a good only @ It can produce it using less labor than other countries. ®) Its wage rate in producing the good is lower than in other countries © Its cost of producing the good, relative to other goods, is at least as low as in other countries. Its productivity is higher in producing the good than the productivity of other countries in producing it. 33. If international trade takes place as a result of comparative advantage, it will cause which of the following effects in the participating countries? @) Both countries will grow faster over time @) Inequality among households will be reduced. All individuals in each country will be better off. The average well-being of people in both countries will increase. 34, When does positive externality occur? @ When the first party's welfare is reduced. @) When the first party's welfare is enhanced. When the third party's welfare is reduced. When the third party’s welfare is enhanced. 35. In what way does Herfindahl-Hirchman Index (HHI)? @ Identify whether the business is feasible or not. ®) Identify those markets with low concentration. Identify markets that is highly competitive and saturated. Identify if the market is highly sustainable and saturated. 36. A certain business has an HHI of 95. What does this indicate? @ The business is unconcentrated. @®) The business is highly competitive. 8 The business has high market concentration. The business has moderate market concentration. 37. The following are the benefits of measuring socio-economic impacts, except @® Strengthening value chains. @®) Fueling product and service innovation. 8 Supporting local and government programs. Improving the business enabling environment. 38. If the business is currently unprofitable, it can be justified as such except @® Undergoing a growth spurt. ) Undergoing a rough patch or problems. Undergoing massive business expansion. Early stages of development in the business. 39, Businesses have a lot of challenges before they become viable one. One of the justified reasons to increase the sustainability quotient of businesses is to increase the ease of doing business done by local government units except @ One-stop shop caravans by Igu. ®) Business tax exemption schemes. Increasing the monthly sales quota per stall. Shortened processing time for business-related transactions.40. In evaluating the business viability, place is not a big deal in putting up a business. This is justified because @ This is true because traffic count matters. ® This is true because the more populated the area, the bigger the chance of profit. is false because traffic count matters. This is false because the more populated the area, the bigger the chance of profit.