Pre-Test in economics and marketing 50 Items
Quiz by SALINDUNONG REVIEW AND TRAINING CENTER
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- Q1
The following are currently categorized as communist countries, except:
Cuba
Laos
China
Japan
120s - Q2
This economic decision addresses the tendency of overprotection.
For whom to produce?
When to produce?
How much to produce?
How to produce?
120s - Q3
The concept of opportunity costs refers to the following except:
Trade-offs in all decisions
Sufficiency of resources
Result of allocation
A result of choices
120s - Q4
Who is the current (Aquino Administration) Secretary of the Department of Agrarian Reform?
Virgilio R. Delos Reyes
Cesar V. Purisima
Rosalinda D. Baldoz
Gregory L. Domingo
120s - Q5
The shift in the production possibilities frontier results from:
Increase in economic resources
Changes in production techniques
Changes in the combination of good produced
Inflation
120s - Q6
This is an economic system driven by purely self-interest of consumers and producers
Communism
Mixed economy
Command economy
Market economy
120s - Q7
Which of the following are two fundamental conflicting problems, the reason why economist exist?
Choice and allocation
Limited resources and unlimited wants/needs
Limited income and limited goods
Scarcity and unlimited goods
120s - Q8
What is the probable opportunity cost of increasing three times the budget of the Agriculture sector than the previous year?
Increase farm subsides
Growth in the service sector
Decrease in performance of other sector
Improvement in the facilities and programs in Agriculture
120s - Q9
The following are perceived to be more beneficial, except:
Population growth
Per capita income growth
Economic growth
Economic development
120s - Q10
Which economy has an absolute advantage in sugarcane production?
Brazil
Philippines
Singapore
China
120s - Q11
William of Ockman introduced this important economic principle:
allocation
opportunity cost
Ceteris paribus
absolute advantage
120s - Q12
An economic concept that utilizes available resources to its best and efficient use.
distribution
opportunity cost
allocation
Ceteris paribus
120s - Q13
It refers to the tabular representation of the relationship between price and quantity demanded.
Supply schedule
Law of demand
Law of supply
Demand schedule
120s - Q14
If there is a negative relationship between the price of good X and the demand for good Y, then:
Goods X and Y are substitutes
Goods X and Y are complement
Good Y is an inferior good
Good Y is a normal good
120s - Q15
Commodities whose demand varies directly with money income refers to:
inferior goods
normal goods
Substitute goods
Complementary goods
120s