Prelim Review (Applied Economics)

Prelim Review (Applied Economics)

1st - 10th Grade

50 Qs

quiz-placeholder

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Prelim Review (Applied Economics)

Prelim Review (Applied Economics)

Assessment

Quiz

Other

1st - 10th Grade

Medium

Created by

Ann Hernandez

Used 31+ times

FREE Resource

50 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Economics is classified as an Applied Science because it deals with the study of human’s life and how he lives with other men.

True

False

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The interaction and relationship of the buyers and sellers

Market

Market Structure

External Environment

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When demand for goods/service exceeds production capacity, the price of the product increases

Cost-Push

Built-In

Demand-Pull

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The remote environment of a firm includes the competitors, suppliers, customers, publics, and intermediaries.

True

False

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The threat of substitute products increases when the price of the substitute product is higher.

True

False

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The bargaining power of buyers increases when the switching costs are low.

True

False

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This segment refers to potential and actual changes in the physical environment and business practices that are intended to positively respond to and deal with those changes.

Political Factor

Technological Factor

Environment Factor

Socio-Cultural Factor

Economic Factor

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