QUIZ 1

Market integration refers to the process where separate markets within an economy become more interconnected and operate as a single, larger market.

• TRUE

• FALSE

Capitalism is about accumulating capital, to gain capital, and the process is endless.

• TRUE

• FALSE

Europe established postal institutions to spread the idea of capitalism all over the world.

• TRUE

• FALSE

Alfamart, Dali, Julie's Bakeshop, SM Department store are examples of virtual market.

• TRUE

• FALSE

The rich core capitalist societies succeed by exploiting the poor peripheral ones.

• TRUE

• FALSE

Wage income is typically earned through the direct sale of goods produced by an individual

• TRUE

• FALSE

The rise of capitalism in early modern Europe had no significant impact on the initial stages of market integration.

• TRUE

• FALSE

A farmer who consumes a portion of the crops they grow is an example of someone receiving primarily wage income.

• TRUE

• FALSE

Facebook, Instagram, and Messenger are examples of oligopolistic market.

• TRUE

• FALSE

Cherry Mobile is considered as the only Filipino phone brand existing in the market.

• TRUE

• FALSE