Manufacturers of prescription eyeglasses and contact lenses face a threat in the reduction of its sales due to an introduction of laser eye surgery. This pertains to __ in Porter's Five Forces.

Development of substitute products

Bargaining power of the consumers

Bargaining power of the suppliers

Cynthia plans to open a boutique that sells apparel, footwear, and accessories. What will happen to the competitiveness of the firms in the industry?

Higher bargaining power of supplier

Joe obtains his goods from the manufacturer and wholesalers of shoes. Now it is easier for the locals to buy those trendy shoes. As a retailer what vital role does Joe play?

Final link between consumers and manufacturers

The following are actions that may promote preservation of environment, EXCEPT:

Promoting the use of plastic bags in every purchase

Instilling the value of recycling and reusing of resources

Spreading information on the dangers of global warming.

Using green-structures for building

The following are the impact of the businesses to the government, EXCEPT,

Employees hired by the businesses employ a household member

Businesses conduct projects like tree planting, and housing

Tax are imposed on the income of the business

The benefit provided by businesses through payments of taxes

The following are examples of positive impact of business to the society, EXCEPT,

Using non-renewable raw materials like oil and minerals have high environmental costs

Construction of infrastructure like roads that have positive effect on the neighboring communities and where other business enterprise may be encouraged to establish their presence nearby to cater the needs of the of the community

Sourcing labor services, technical professionals, and managers in huge plantations and mining companies may opt to build communities within their business complex that has educational, health, social, and cultural religious facilities.

The impact of the sales of firm of its outputs to other firms as intermediate inputs and as capital goods. These repeated transactions of constant sales contribute to the strengthening of the integration of the economy.

The following are the impact of the businesses to the government, EXCEPT,

Businesses conduct projects like tree planting, and housing

Employees hired by the businesses pay personal income taxes to BIR

Tax are imposed on the incomes of the business

The benefit provided by businesses through the payments of taxes

Unmanaged emotional reactions or lack of emotional intelligence skills by executives and employees at all levels can lead to the following, EXCEPT;

Lack of innovation and creativity

Low development of high potential talent

Unsuccessful reengineering and process improvement initiatives

What are the consequences when there is inflation?

Inflation causes increases in business expenses such as rent, utilities, and cost of materials used in production.

Inflation causes decreases in business expenses such as rent, utilities, and cost of materials used in production.

Inflation never cause an impact in business expenses such as rent, utilities, and cost of materials used in production.

Inflation is not related in business expenses such as rent, utilities, and cost of materials used in production.

What implication if more individuals are interested to start up small business despite of the situation on COVID 19 pandemic?

Positive implication in adapting to new normal of business operation

Negative impact to economic situation

No need to start a new business

Promote competition that will led to business chaos

When a consumer decides of a product or service to acquire, what did the business provide as an impact?

benefits of the product or service

A local supplier of raw material had a limited inventory of raw materials for the production of its client, which is engage in production. What is impact of this situation to the production business?

cancellation of existing contract

immediate stoppage of operation

In the event that a business does pay tax liability, what is the direct impact to the business?

business will be charges of tax case

availing loan to financial institution

Household serve as the target market of business product and service, what can the business contribute to promote a positive impact to household?

consumption of product that sub-standard and health risk

unemployment and lay-off workers

You're the only business offering a unique product and its needs to maximize your production output by 20% to 30%, since there is a definite demand. What is the thing need to consider in able to meet the production requirement?

Look for alternative supplier of raw material and ensure availability of fund

Keep your product until the price goes up or hoarding

Let consumer look for an alternative of your product

Use the current available raw material

When using a SEAT (Socio-Economic Assessment Toolbox), what is the particular objective that focuses on minimizing negative impacts?

to provide guidance on the 'line of logic' to follow when exploring potential issues

to enhance marketing procedures of the business

to showcase the product and service of the business

to maintain the business current position

Grade 12 Applied Economics Exam

Authored by Rodelou Balucan

Social Studies

12th Grade

Used 1+ times

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40 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Consumer

Creditors

Government

Suppliers

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Autonomy

Durability

Profitability

Scalability

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Competition

Distribution

Profitability

Scalability

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Advertising

Big Ideas

Profitability

Scalability

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Printed and online promotion is needed is starting your business.

Advertising

Big Ideas

Profitability

Scalability

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Business

Commerce

Trade

Partnership

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

DPWH

DOLE

LGU

DEPED

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Grade 12 Applied Economics Exam

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

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

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

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

Printed and online promotion is needed is starting your business.

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

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

Which does NOT belong to the group?

Which of the following belongs to Primary Industry?

Which of the following belongs to the Secondary Industry?

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