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Applied Economics: Written Test #2 M 5-8

This document contains 20 multiple choice questions testing knowledge of economics concepts like comparative advantage, online business, e-commerce, retail trade, imports, exports, and types of services. The questions cover topics such as advantages and disadvantages of online transactions, definitions of economic terms, examples of different types of businesses and services, trade and export/import data for the Philippines, and individuals and concepts related to economics.

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MariaAngelaAdanEvangelista
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27 views21 pages

Applied Economics: Written Test #2 M 5-8

This document contains 20 multiple choice questions testing knowledge of economics concepts like comparative advantage, online business, e-commerce, retail trade, imports, exports, and types of services. The questions cover topics such as advantages and disadvantages of online transactions, definitions of economic terms, examples of different types of businesses and services, trade and export/import data for the Philippines, and individuals and concepts related to economics.

Uploaded by

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

ECONOMICS
Written Test #2
M 5-8
• 1. Below are the advantages of
online business transactions,
EXCEPT:
• A. easy to pay
• B. opens 24 hours, 7 days a week
• C. more product selection
• D. none of the above
• 2. It refers to the ability of the
economy to produce goods and
services at a lower opportunity cost
compared to trade partners.
• A. Opportunity Cost
• B. Comparative Advantage
• C. Economies of Scale
• D. International Trade
• 3. It is a business activity
associated with the sale of goods
to the ultimate customer.
• A. Merchandise
• B. Manufacturing
• C. Retail Trade
• D. Service Trade
• 4. It is the exchange of information
or business transactions using any
form of electronic communication.
• A. E-Commerce
• B. Online Business
• C. Digital Market
• D. Online Economy
• 5. The top gainer in the
Philippine Imports in June 2020.
• A. Cereals
• B. Transport Equipment
• C. Food and Live Animals
• D. Mineral Fuels
• 6. Below are the disadvantages of
online business transactions,
EXCEPT:
• A. customer service
• B. instant satisfaction
• C. product check
• D. none of the above
• 7. These are business firms
engaged in offering goods and
services directly to consumers.
• A. Service business
• B. Retail business
• C. Manufacturing business
• D. None of the above
• 8. It is the exchange of goods
and services between countries.
• A. Comparative Advantage
• B. Economies of Scale
• C. International Trade
• D. Opportunity Cost
• 9. The top gainer in the
Philippine Exports in June 2020.
• A. Metal Components
• B. Mineral
• C. Chemical
• D. Coconut Oil
•10. Below are the examples
of service, EXCEPT.
•A. Education
•B. Auditing
•C. Laundry
•D. None of the above
• 11. These services are not
profiting motive but as a social
cause.
• A. Business Services
• B. Personal Services
• C. Social Services
• D. None of the above
•12. He popularized the law
of comparative advantage.
•A. Adam Smith
•B. Leonel Robbins
•C. Thomas Malthus
•D. David Ricardo
• 13. These services support the
daily operation and activities of
any business.
• A. Business Services
• B. Personal Services
• C. Social Services
• D. None of the above
• 14. How many retail businesses
were established and registered
in 2017?
• A. 101,136
• B. 115,998
• C. 123,487
• D. None of the above
• 15. These services are engaged in
commercial activities that provide
needs to individuals.
• A. Business Services
• B. Personal Services
• C. Social Services
• D. None of the above
• 16. E-commerce operates in the
following market segments,
EXCEPT:
• A. business to business
• B. business to consumer
• C. consumer to consumer
• D. none of the above
•17. It is the top online product
spent by Filipinos in 2019.
•A. fashion and beauty
•B. electronics
•C. food
•D. furniture
• 18. A business that provides
professional support to its
clients.
• A. Merchandising
• B. Manufacturing
• C. Retail
• D. Service
• 19. It is the promotion of goods
and services that are available
for retail sale.
• A. Merchandising
• B. Manufacturing
• C. Servicing
• D. Trading
• 20. Below are the examples of
retail trade business, EXCEPT.
• A. Online Store
• B. Sari-Sari Store
• C. Motorcycle Trade
• D. None of the above

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