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Assessment in Applied Economics 2nd Quarter Module 7 Lesson 1

Quiz by rodel ramos rivera

Grade 12
Applied Economics
Philippines Curriculum: SHS Specialized Subjects (MELC)

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15 questions
Show answers
  • Q1
    These are individuals/group of individuals who buy goods and services for personal and business use.
    Creditors
    Consumer
    Suppliers
    Government
    60s
  • Q2
    The capability of a company to produce or increase output when resources are added is called _______________________.
    Scalability
    Profitability
    Autonomy
    Durability
    60s
  • Q3
    Business is a legal entity that is separate and distinct from owner.
    Profitability
    Autonomy
    Durability
    Scalability
    60s
  • Q4
    Ford and Toyota sells the same products; it evident that there is a ____________ .
    Alliance
    Competition
    Distribution
    Threats
    60s
  • Q5
    Competitive advantages can also be gained by business that seeks association or cooperation with other business:
    Cost Leadership
    Defensive Strategy
    Alliance
    Differentiation
    60s
  • Q6
    Individual or firms who desire products and services in the market for consumption or business.
    Government
    Creditors
    Supplier
    Consumers
    60s
  • Q7
    Which does not belong to the group?
    Colgate
    Head and Shoulders
    Close-Up
    Happee
    60s
  • Q8
    A strategy that businesses use to distinguish themselves apart from their competitors.
    Defensive Strategy
    Differentiation
    Cost Leadership
    Alliance
    60s
  • Q9
    This method occurs when a business is able to offer the same quality product as its competitors and sell it at a lower price.
    Alliance
    Differentiation
    Cost Leadership
    Defensive Startegy
    60s
  • Q10
    The advantage gained by this type of strategy is that it allows the business to further distance itself by using defensive method.
    Alliance
    Defensive Strategy
    Cost Leadership
    Differentiation
    60s
  • Q11
    An economic activity that is engage in buying and selling of goods and services in exchange of money.
    Business
    Commerce
    Scalability
    Trade
    60s
  • Q12
    Business ability to use its resources to produce profit.
    Profitability
    Scalability
    Autonomy
    Big Idea
    60s
  • Q13
    These are alternative goods that can easily replace by other products either perfectly or in part.
    Substitutes
    Original
    Clone
    Brand
    60s
  • Q14
    Printed and online promotion is needed in starting your business.
    Big Ideas
    Profitability
    Scalability
    Advertising
    60s
  • Q15
    Entrepreneurs think big and make this idea into a reality for the success of their business.
    Autonomy
    Profitability
    Big Idea
    Scalability
    60s

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