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Test in Applied Economics

This document appears to be a test for a class on applied economics. It contains multiple choice and fill-in-the-blank questions testing students' understanding of key economic concepts like scarcity, opportunity cost, supply and demand, as well as identification of limited and unlimited resources. The test covers foundational economic problems and how applied economics seeks to understand real world situations through the lens of economic principles and theories.

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EVA PAMISAN
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114 views1 page

Test in Applied Economics

This document appears to be a test for a class on applied economics. It contains multiple choice and fill-in-the-blank questions testing students' understanding of key economic concepts like scarcity, opportunity cost, supply and demand, as well as identification of limited and unlimited resources. The test covers foundational economic problems and how applied economics seeks to understand real world situations through the lens of economic principles and theories.

Uploaded by

EVA PAMISAN
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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APPLIED ECONOMICS

S/Y 2019-20

Name: _______________________________________ Year & Section: ___________ Score: ____ Date: _________

TEST I. IDENTIFICATION: Identify the correct answer described by the statement. Write the correct answer on the
space provided.

______________1. Concern with overall performance of the entire economy


______________2. The study of production, distribution and consumption of goods and services within the economy
______________3. Application of economics principles and Theories to real situations
______________4. The insufficiency of resources in meeting wants and needs of customer.
______________5. If there is scarcity there is a need to make _____________ in choosing how to maximize the
resources.
______________6. An insufficiency when good is scarce compared to demand.
______________7. An insufficiency when supply is limited.
______________8. Avalue of a forgone/sacrifice alternative
______________9. The answer to basic economic problem of the society
______________10. Concern with individual entities as such consumers and producers
______________11. The market value of final product both sold and unsold, produces by the resources of the
economy.
______________12. First to the term applied economics.
______________13-16 What limited resources
______________17-19 What are unlimited resouces
______________20-23 What are the Basic questions in economics that are to be answer with constrains and
limitation
Identify which resources is referred
24. Entertainer
25. Minerals
26. Forest
27. Marine resources
28. Teachers
29. Technology
30. Production equipment
31. Engineers
32. Business Proprietor
33. Vault
34. Call Center agent
35. Nurse

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