Introduction to Economics

Humans are considered as resources of a country.

• TRUE

• FALSE

Which is NOT a major import of the Philippines?

• rice

• meat products

• transportation equipment

• electronic parts and semi-conductors

Philippines is open for international investments.

• TRUE

• FALSE

Which is not considered as a good?

• water

• fastfood meals

• education

• appliances

Which is not considered as Philippines' export?

• OFWs

• Jollibee

• Coffee

• Strawberry

Philippines is a developing country.

• TRUE

• FALSE

Philippines implements Sin Tax Law or the law implementing higher taxes on cigarettes and alcoholic beverages.

• TRUE

• FALSE

Which is not needed to produce a good?

• worker

• machinery

• business owner

• advertisement

With the implementation of community quarantine, the Philippines experiences economic growth.

• TRUE

• FALSE

Filipinos who are employed and run businesses are required to pay taxes.

• TRUE

• FALSE