Grade 12 Applied Economics Exam

These are individuals/ group of individuals who buy goods and services for personal and business use.

• Consumer

• Creditors

• Government

• Suppliers

The capability of a company to product or increase output when resources are added is called________.

• Autonomy

• Durability

• Profitability

• Scalability

Ford and Toyota sells the same products: it evident that there is a _______.

• Competition

• Distribution

• Profitability

• Scalability

These are alternative goods that can easily replace by other products either perfectly or in part.

• Advertising

• Big Ideas

• Profitability

• Scalability

Printed and online promotion is needed is starting your business.

• Advertising

• Big Ideas

• Profitability

• Scalability

An Economic activity that is engaged in buying and selling of goods and services in exchange of money.

• Business

• Commerce

• Trade

• Partnership

Which of the following government agencies are in charge of the implementation of minimum wage salary of workers?

• DPWH

• DOLE

• LGU

• DEPED

Which does NOT belong to the group?

• Colgate

• Head and Shoulders

• Close-up

• Hapee

Which of the following belongs to Primary Industry?

• Automotive

• Fishing

• Health Care

• Mass Media

Which of the following belongs to the Secondary Industry?

• Textile

• Farming

• Insurance

• Transport