Tq appied economics 3 rd qurter
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This document appears to be an economics exam from Gabi National High School in the Philippines. It contains multiple choice, fill-in-the-blank, enumeration, and essay questions testing students' knowledge of key economic concepts and terms. The questions cover topics like microeconomics, macroeconomics, public finance, consumption, production, exchange, and scarcity. The exam also asks students to define applied economics and identify economic challenges facing the Philippines in the 21st century.
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B. Profit
C. Bureaucracy
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Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
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Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
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B. Both are unaffected by political or social change.
C. Both of them engage in management and finance activities.
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E. Both aim to maximize financial returns for their owners.
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
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A. agencies
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E. shareholders
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
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Study Guide: Chapter 1
Multiple Choice Questions
1. ____ is the primary goal of business.
A. Charity
B. Profit
C. Bureaucracy
D. Quality
E. Strategy
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
2. Which of the following is NOT a product?
A. A Dell personal computer
B. A veterinarian's treatment of a pet's injuries
C. A lawyer's advice in a divorce case
D. A checkup by a doctor
E. A business profit
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
3. Which of the following is an example of an intangible product?
A. A movie DVD
B. A sandwich
C. A sports car
D. A music concert
E. Jewelry
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
4. Which of the following is a similarity between businesses and nonprofit organizations?
A. Both do not have to abide by government regulations.
B. Both are unaffected by political or social change.
C. Both of them engage in management and finance activities.
D. Both of them do not need to adapt to technological changes.
E. Both aim to maximize financial returns for their owners.
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
5. All the groups that have an interest in an organization's success and outcomes are known as the organization's ____.
A. agencies
B. stakeholders
C. owners
D. investors
E. shareholders
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
6. Which of the following is a force within an organization's control that has an impact on the business's daily operations?
A. Employees
B. Regulatory environment
C. Competition
D. Political environment
E. Technology
Hint: Learning Objective: 01-02 Identify the main participants and activities of business and explain why studying business is important.
7. Which of the following is true of the responsibilities of the people involved in a business?
A. Finance is concerned with acquiring, developing, and using human effectively and efficiently.
B. Marketing refers to all activities concerned with obtaining money for the firm and using it effectively.
C. Nonprofit organizations include all the functions that businesses do, except for the marketing function.
D. Management is not involved in the day-to-day functions of production and manufacturing.
E. It is the primary responsibility of the owners to provide financial resources for the operation of the business.
Hint: Learning Objective: 01-02 Identify the main participants and activities of business and explain why studying business is important.
8. The functions of organizing, staffing, planning, and controlling are most closely associated with:
A. managers.
B. assembly line workers.
C. investment advisors.
D. stockbrokers.
E. direct sales executives.
Hint: Learning Obje.
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1. ____ is the primary goal of business.
A. Charity
B. Profit
C. Bureaucracy
D. Quality
E. Strategy
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
2. Which of the following is NOT a product?
A. A Dell personal computer
B. A veterinarian's treatment of a pet's injuries
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D. A checkup by a doctor
E. A business profit
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3. Which of the following is an example of an intangible product?
A. A movie DVD
B. A sandwich
C. A sports car
D. A music concert
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Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
4. Which of the following is a similarity between businesses and nonprofit organizations?
A. Both do not have to abide by government regulations.
B. Both are unaffected by political or social change.
C. Both of them engage in management and finance activities.
D. Both of them do not need to adapt to technological changes.
E. Both aim to maximize financial returns for their owners.
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
5. All the groups that have an interest in an organization's success and outcomes are known as the organization's ____.
A. agencies
B. stakeholders
C. owners
D. investors
E. shareholders
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
6. Which of the following is a force within an organization's control that has an impact on the business's daily operations?
A. Employees
B. Regulatory environment
C. Competition
D. Political environment
E. Technology
Hint: Learning Objective: 01-02 Identify the main participants and activities of business and explain why studying business is important.
7. Which of the following is true of the responsibilities of the people involved in a business?
A. Finance is concerned with acquiring, developing, and using human effectively and efficiently.
B. Marketing refers to all activities concerned with obtaining money for the firm and using it effectively.
C. Nonprofit organizations include all the functions that businesses do, except for the marketing function.
D. Management is not involved in the day-to-day functions of production and manufacturing.
E. It is the primary responsibility of the owners to provide financial resources for the operation of the business.
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Multiple Choice Questions
1. ____ is the primary goal of business.
A. Charity
B. Profit
C. Bureaucracy
D. Quality
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Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
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A. A Dell personal computer
B. A veterinarian's treatment of a pet's injuries
C. A lawyer's advice in a divorce case
D. A checkup by a doctor
E. A business profit
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
3. Which of the following is an example of an intangible product?
A. A movie DVD
B. A sandwich
C. A sports car
D. A music concert
E. Jewelry
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
4. Which of the following is a similarity between businesses and nonprofit organizations?
A. Both do not have to abide by government regulations.
B. Both are unaffected by political or social change.
C. Both of them engage in management and finance activities.
D. Both of them do not need to adapt to technological changes.
E. Both aim to maximize financial returns for their owners.
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
5. All the groups that have an interest in an organization's success and outcomes are known as the organization's ____.
A. agencies
B. stakeholders
C. owners
D. investors
E. shareholders
Hint: Learning Objective: 01-01 Define basic concepts such as business; product; and profit.
6. Which of the following is a force within an organization's control that has an impact on the business's daily operations?
A. Employees
B. Regulatory environment
C. Competition
D. Political environment
E. Technology
Hint: Learning Objective: 01-02 Identify the main participants and activities of business and explain why studying business is important.
7. Which of the following is true of the responsibilities of the people involved in a business?
A. Finance is concerned with acquiring, developing, and using human effectively and efficiently.
B. Marketing refers to all activities concerned with obtaining money for the firm and using it effectively.
C. Nonprofit organizations include all the functions that businesses do, except for the marketing function.
D. Management is not involved in the day-to-day functions of production and manufacturing.
E. It is the primary responsibility of the owners to provide financial resources for the operation of the business.
Hint: Learning Objective: 01-02 Identify the main participants and activities of business and explain why studying business is important.
8. The functions of organizing, staffing, planning, and controlling are most closely associated with:
A. managers.
B. assembly line workers.
C. investment advisors.
D. stockbrokers.
E. direct sales executives.
Hint: Learning Obje.
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