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Q 1/45
Score 0
They have the power or the authority to manipulate their products, such as minimizing their outputs to put higher prices.
45
Perfect Competition
Monopoly
Monopolistic Competition
Oligopoly
Q 2/45
Score 0
They sell similar yet slightly different products.
The consumers can favor a product more than the other one.
45
Oligopoly
Monopoly
Perfect Competition
Monopolistic Competition
45 questions
Q.
They have the power or the authority to manipulate their products, such as minimizing their outputs to put higher prices.
1
45 sec
Q.
They sell similar yet slightly different products.
The consumers can favor a product more than the other one.
2
45 sec
Q.
They are price setters rather than price takers.
Some barriers to entry the market.
3
45 sec
Q.
They have homogeneous product, a large number of sellers, a large number of buyers.
4
45 sec
Q.
Ferquelyn went to the market yesterday to look for a cosmetic product. She bought 5 pieces of it and they all have different brands.
5
45 sec
Q.
Your mom asked you buycolgate toothpaste to Jamaica Rizel's Store. Sadly, they ran out of it, so you just bought Hapee toothpaste.
6
45 sec
Q.
Jared owns the only Art Shop in their town that’s why he raised each material’s price and limited the products they make.
7
45 sec
Q.
You walked around the whole mall and you found out that there were 10 photo booth stalls with the same products and they all have the same fees.
8
45 sec
Q.
The type of market structure in which differentiated product has many vendors?
9
45 sec
Q.
A man-made resources used in production of goods and services which include machineries and equipment.
10
45 sec
Q.
It can be described as differentiated or expanded human needs
11
45 sec
Q.
It is a condition where there are insufficient resources to satisfy all the need and wants of a population.
12
45 sec
Q.
This is the application of economic theories and principles to real world situations with the desired aim of predicting potential outcomes.
13
45 sec
Q.
It deals with how people interact with one another.
14
0 sec
Q.
Came from nature that are used in production including minerals, raw materials and natural processes.
15
45 sec
Q.
The branch of economics that is concerned with the overall performance of the entire economy.
16
45 sec
Q.
Total quantity customers are willing and able to purchase
17
45 sec
Q.
It is a table that shows the price of a good and the quantity demanded for that good at a given price within a given period
18
45 sec
Q.
It is a graphical representation that shows the relationship between the price of a good and the quantity demanded for that good at a given price.
19
45 sec
Q.
Ceteris Paribus
20
45 sec
Q.
It is where price and quantity of supplies and demand meet.
21
45 sec
Q.
What are the two goods that are brought and used together?
22
45 sec
Q.
It is the study of economic behavior and decision makings of small units, such as individuals, families
23
45 sec
Q.
What is the state of not earning or no work?
24
45 sec
Q.
Philippine population as of December 2023
25
45 sec
Q.
Inflation rate as of December 2023
26
45 sec
Q.
It states that all other factors being equal, as the price of a good or service increases, the need for the good will decrease.
27
45 sec
Q.
It is an increase in the overall level of prices in the economy.
28
45 sec
Q.
When the price of a good increases, the quantity demanded of the good is likely to ___.
29
45 sec
Q.
When the demand for a product decreases due to changing of consumer preferences, the demand curve
30
45 sec
Q.
A decrease in supply shifts the supply curve
31
45 sec
Q.
When the price increases, the suppliers tend to
32
45 sec
Q.
When the production costs go up__.
33
45 sec
Q.
Which of the following best describes a demand curve?
34
45 sec
Q.
Lower prices typically ___.
35
45 sec
Q.
Which of the following best describes a supply curve?
36
45 sec
Q.
The amount received by blue-collar job workers, like welder and carpenter, as payment for the service the render.
37
45 sec
Q.
Income received by white-collar job employess,like teachers and bank employees.
38
45 sec
Q.
It is a basic economic question regarding goods and services to
be produced should be based on the needs of the people.
39
45 sec
Q.
What are the resources to be used? How much labor is
needed to produce the needed quantity? Quality should come first before
quantity.
40
45 sec
Q.
It is a basic economic question regarding how are the goods
distributed among consumers?
41
45 sec
Q.
These are examples of human wants except
42
45 sec
Q.
These are examples of human wants except
43
45 sec
Q.
Jenelyn recently opened her milk tea shop. A few weeks later, her friend, John, also opened one. They both sell the same product, which is milk tea, but it is different in terms of style, packaging, and advertisement.
44
45 sec
Q.
Shella owns the only butchery shop in their village. Every morning, customers line up in front of his store to buy one because it easily gets out of stock.
