ECONOMIC DEVELPOMENT

PRELIM EXAM

Name: Date:
Course & year : Score:

Test I: IDENTIFICATION.

1. This examines the economy as a whole to explain broad aggregates.

2. These are goods and services that results from the production process.
3. These are commodities or services that are used to produce goods and services.
4. This is a field of economics that looks at interactions through individual markets.
5. All manufactured aids used in producing consumer goods and services.
6. Consists of physical and mental talents of individuals.
7. Takes initiative in combining resources, makes strategic business decisions, an innovator and risk
taker.
8. All natural resources used in the production process, gift of nature.
9. It focuses on specific units of the economy.
10. It is called factors of production.

Test II: TRUE OR FALSE.

1. Microeconomics studies the effect on price of goods and services. T

2. Input are commodities or services that are used to produce goods and services. T
3. Output is called factors of production. F
4. Macroeconomics examines the economy as a whole to explain broad aggregates and their
interactions. T
5. Labor goods include all manufactured aids used in producing consumer goods and services. F
6. Entrepreneurial activity of physical and mental talents of individuals used in producing goods or
services. F
7. Land all natural resources used in the production process, gift of nature. T
8. Output are goods and services that results from the production process and are either consumed
or employed in further processing. T
9. Microeconomics is concerned with individual units such as a person, a household, a firm, or an
industry. T
10. Microeconomics is the economy as a whole. F

Test III: ENUMIRATION. ( in any order )

1-4. Factors of production.

5-6. Two major of subfields of Economics.
 FINANCIAL MARKET
PRELIM EXAM

Name: Date:
Course & year : Score:

Test I: IDENTIFICATION.

1. Refers to money, such as paper currency that has no value apart from its use as money.
2. Paper money has ________.
3. Can be used like checks.
4. More transactions than ever are now carried out without the use of cash.
5. Did not exist40 years ago.
6. Refers to a good use as money that has value independent of its use as money.
7. Is technically a distributed ledger, or an online network that registers ownership of funds,
securities or any other good.
8. are promises to pay on demand money deposited with a bank or other financial institution.
9. Fast settlement of payments facilitates transactions by both household and businesses.
10. Better security increases consumers and businesses confidence that funds will not be stolen
electronically.

Test II: TRUE OR FALSE.

1. 82 percent of Filipino consumers attempted to go cashless in 2022. .

2. Australia has an unbanked population of 0%, meaning every single citizen has a bank account.
3. The Government supervises the payments system but doesn’t directly control it because many
payments proceed by banks and other private firms.
4. Another major innovation in the payment system came in the early 20th century, with increasing
use of checks.
5. Commodity refers to money, such as paper currency that has no value apart from its use as
money.
6. Unlike paypal, bitcoin is not owned by a firm is instead the product of a decentralized system of
linked computers.
7. Blockchain is technically a distributed ledger, or an online network that registers ownership of
funds, securities or any other good.
8. Blockchain is regulated by central authority, typical central bank.
9. E-money access to electronic devices such as mobile phones and an agent network.
10. Cashless society is more transactions than ever are now carried out without the use of cash.
11. Bitcoin is anonymous.
12. ATM can be used like checks.
13. Checks are promises to pay on demand money deposited with a bank or other financial
institution.
14. Paper money has drawbacks.
15. E-money determined by supply and demand and trust in the system.

Test III: ENUMIRATION. ( in any order )

1-5.Give atleast 5 desirable outcomes.

6-10. Give the payment system.
Answer key:

Economic Development

Test I. Test II. Test III.

1. Macroeconomics 1. True 1. Land
2. Output 2. True 2. Labor
3. Input 3. False 3. Capital
4. Microeconomics 4. True 4. Entrepreneurial
5. Capital 5. False 5. Mircoreconomics
6. Labor 6. False 6. Macroeconomics
7. Entrepreneurial ability 7. True
8. Land 8. True
9. Microeconomics 9. True
10. Input 10. False

Financial Market

Test I. Test II. Test III.

1. True 1. Fiat money 1. Security
2. False 2. Drawbacks 2. Efficiency
3. Flase 3. Debit cards 3. Speed
4. True 4. Cashless society 4. Smooth international transactions
5. False 5. ATM 5. Effective collaboration
6. True 6. Commodity 6. Commodity money to fiat money
7. True 7. Blockchain 7. The importance of checks
8. False 8. Checks 8. Technology and payment system
9. True 9. Speed 9. E-money, bitcoin & blockchain
10. True 10. Security 10. Cashless society
11. True
12. False
13. True
14. True
15. False