APPLIED ECONOMICS Pre-Test

This refers to the money that companies used to buy resources

• Land

• Labor

• Capital

• Entrepreneurship

It refers to an idea into a business.

• Land

• Labor

• Capital

• Entrepreneurship

It is the work done by people-education, skills, and motivation and productivity

• Land

• Labor

• Capital

• Entrepreneurship

A natural resources available to create supply such as raw materials that comes from the ground.

• Land

• Labor

• Capital

• Entrepreneurship

Mrs Nenita De Jesus purchased basic goods like vegetables and groceries for the consumption of her family. These goods are:

• Consumers goods

• Capital Goods

• Luxury Goods

• Economic Goods

Mr. Dennis Elecanal purchased new car as a gift for his father’s birthday. This good is_______.

• Consumers Good

• Luxury Good

• Capital Good

• Economic Good

ABM Computer shop purchased additional 10 units of computer for the business. These goods are called:

• Consumers goods

• Luxury Goods

• Capital Goods

• Economic Goods

Which is NOT considered as tangible good?

• Cell phone

• Mask

• Sack of rice

• Training service

Its perspective focuses on parts of the economy: individuals, firms, and industries.

• Macroeconomics

• Microeconomics

• Social Science

• Applied Science

Its perspective looks at the economy as a whole, focusing on goals like production, the standard of living, unemployment and inflation.

• Macroeconomics

• Microeconomics

• Social Science

• Applied Science