THIRD QUARTER TEST WORKSHEET NO. 1 APPLIED ECONOMICS 12

It is the study of economics in relation to real world situations

• Microeconomics

• Macroeconomics

• Econometrics

• Applied economics

The tension between the limited resources and unlimited wants and needs.

• natural resources

• scarcity

• opportunity cost

• poverty

The Greek translation of the word economics

• ekonomiya

• oikonomia

• okonomea

• oikomia

What is Economics?

• It talks about the needs and wants of an individual

• Focuses on the financial status of a country

• Distinguish as Applied and Social Science

• Classified as the way to know the behavior of consumers.

It is part of Science that studies the ownership, use, and exchange of scarce resources of the people. What it is?

• Economics

• Economics as Applied Science

• Economics as Social Science

• Microeconomics

What does an economist use to solve different economic problems in society?

• Different Economic Theories

• Different Economic Research

• Different Economic Practices

• Different Economic Masterpiece

What field of Economics does study the markets of goods and services?

• Macroeconomics

• Microeconomics

• Nanoeconomics

• Gigaeconomics

What do we call the platform in which the agents/stakeholders interact?

• Business

• Market

• Rocket

• Basket

What is the study that studies the way a society solves the fundamental problems of reconciling the unlimited desires of individuals with scarce resources?

• Social Science

• Applied Science

• Economics

• Macroeconomics

What is the field of economics that studies Economics as a whole?

• Macroeconomics

• Microeconomics

• Nanoeconomics

• Gigaeconomics