Pagsusulit sa Ekonomiya

The diagram above shows the interaction of different sectors in the economy. If you are a teacher explaining in class, what explanation is best to describe the diagram?

• It focuses on the income and expenses of the government as the main actor in the economy.

• It refers to the flow of trade between local and international markets.

• It shows exclusive transactions between financial institutions.

• It illustrates the relationship of each sector of the economy in the flow of products, services, and money.

Based on the diagram, how can the flow of money in the economy be explained from the perspective of a businessman who is part of the market for goods and services?

• Money continuously circulates in the economy due to the interaction of income, expenses, and savings.

• Money disappears from the economy due to the importation of products from the external sector.

• Money goes to the government as taxes, thus reducing the overall income in the economy.

• Money only circulates between households and the government, which is the main actor of the economy.

Assuming you are an economist analyzing the relationship between households and businesses in the diagram. What is the most appropriate explanation about their relationship?

• These two sectors are considered the most critical because they drive the entire economy.

• All money circulating in the economy comes from these two sectors, making them the largest actors.

• Households and businesses both control the supply of all products and services in the economy.

• Households provide inputs such as land, labor, and capital, while businesses buy these to produce outputs or products.

Imagine you are a legislator who needs to explain the role of the Resource Market in the overall economy. How would you describe it as an important part in achieving the long-term goals of the economy, such as growing GDP and improving the livelihood of each sector?

• The resource market provides opportunities for higher government income through taxes from production.

• This market is where all raw materials used in local and international trade come from, making it the foundation of the global economy.

• The resource market affects the supply of products, which directly impacts the prices and quality of products and services in the global market.

• The resource market serves as an intermediary to ensure that factors of production such as land, labor, and capital are used efficiently for the creation of products and services.

A family lives in a remote area, their vegetable crops and livestock are the source of their food and they no longer rely on others. What economic model is illustrated in this situation?

• First Model

• Second Model

• Third Model

• Fourth Model

The third model of the economy shows the relationship between households and businesses in the Financial Market. What is the most appropriate description of this relationship?

• Households and businesses directly collaborate to establish balance in supply and demand in the market.

• Households fund the financial market, and businesses pay interest on their debts to sustain the economy.

• Households save in the financial market, which businesses use as capital for production expansion.

• Households provide factors of production to businesses, while the financial market helps increase workers' income.

A clothing factory (business) wants to increase its production to keep up with the high demand for clothing in the market. To achieve this, they need additional workers, capital, and raw materials. As part of the household, what is the appropriate action you should take to demonstrate the collaboration of the two sectors?

• Find other businesses that can provide higher income for the factors of production.

• Increase the available inputs needed by the business to help expand their production.

• Save income so that there is no need to provide factors of production to the business.

• Decline the business's request to maintain sufficient supply of factors of production in the household.

Assuming you are an economic adviser of the Philippines and tasked to design a new aspect of the economy that is not part of the existing circular flow model of the economy. Which of the following proposals has the greatest potential to enhance the connection of various sectors while improving the flow of money, goods, and services in the economy?

• Creating an 'Online Business Market Model' where households can sell their online skills and services to businesses.

• Establishing a 'Global Innovation Center' that connects imports to acquire more products for the domestic economy.

• Adding a 'Health Sector' with a separate fund from the government to support the needs of households and businesses.

• Introducing an 'Eco-Market' where businesses and households can transact for eco-friendly and renewable resources.

The GNP and GDP are two ways of estimating national income, what does the acronym GDP stand for?

• Gross Domain Project

• General Domestic Product

• Gross Domestic Product

• Growth Delivery Projection

According to the Department of Trade and Industry (DTI), the number of online businesses has increased since the pandemic began. Which of the following methods of measuring GNP/GDP can include income from online businesses?

• Economic Freedom Approach

• Expenditure Approach

• Income Approach

• Industrial Origin Approach