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WorksheetsEconomics Review (Needs and Wants)
Total questions: 54
Worksheet time: 27mins
Name
Class
Date
1.
This is required for survival
a)
Needs
b)
Wants
c)
Goods
2.
Specific materials that one aspires to have
a)
Goods
b)
Wants
c)
Needs
3.
In the Maslow's Hierarchy of Needs, What is the second type of need?
Clue: Security
Clue: Security
a)
Need for Self-Actualization
b)
Esteem Needs
c)
Safety Needs
4.
Materialistic Aspects
a)
Intermediate Goods
b)
Free Goods
c)
Economic Wants
5.
Products acquired without cost
a)
Not Final Goods
b)
Free Goods
c)
Economic Wants
6.
Processed by people into new products
a)
Economic Wants
b)
Economic Goods
c)
Fine Wants
7.
Similar to fixed capital
a)
Consumer Durable Goods
b)
Natural Goods
c)
Intermediate Goods
8.
Similar to Consumer Durable Goods (CDG)
a)
Final Goods
b)
Final Needs
c)
Final Wants
9.
Love, Respect, Integrity, and Freedom
a)
Free Needs
b)
Non-Economic Wants
c)
Universal Goods
10.
Everyone Needs it
a)
Universal
b)
Relative
c)
Passive
11.
Particular people need it
a)
Active
b)
Relative
c)
Economic Goods
12.
Luxury, Prestige, Comfort, and COnvenience
a)
Private Wants
b)
Public Needs
c)
Created Economic Wants
13.
For the Common Good
a)
Public Needs
b)
Public Wants
c)
Public Goods
14.
Particular Wants
a)
Private Wants
b)
Private Goods
c)
Private Needs
15.
(Factors)
Engel's Law
Engel's Law
a)
Income
b)
Money
c)
Consumption
16.
People =
Economic Wants
Economic Wants
a)
People
b)
Population
c)
Perecentage
17.
Alters consumption behavior
a)
Butterfly Effect
b)
Adevertisements
c)
Demonstration Effect
18.
Rural Area to be industrialized
a)
Urbanization
b)
Migration
c)
Physical Location
19.
(Concerns) (Complete the Phrase)
Rights of...
Rights of...
a)
Rights of the People
b)
Rights of the Consumer
c)
Rights of a Person
20.
(Finish the Phrase/s)
Rights to...
Rights to...
a)
Education
b)
Love
c)
Learn
21.
Demand Receipts when making purchases
a)
Duties & Obligation
b)
BIR
c)
Obliagtions
d)
Duties
22.
Patronize Filipino Products
a)
Duties and Obligatons
b)
Duties and Oblgations
c)
Duties and Obligations
23.
(Responsibilities) Should be aware of the use, price, quality... etc.
a)
Critical Thinking
b)
Technical Thinking
c)
Abstract Thinking
24.
(Keywords) Asserts himself in the market
a)
Action
b)
Legal
c)
Concern
25.
(Keywords) Impact of his consumption on other people
a)
Social Concern
b)
Social Need
c)
Social Media
26.
Consumption to the Environment
a)
Sustainable Concerns
b)
Social Concern
c)
Environmental Concern
27.
(Keywords) Join Consumer Organizations
a)
Solidarity
b)
Strike
c)
Patriotic
28.
Root word of Economics
a)
Oikonomia
b)
Nemein
c)
Oikos
29.
Meaning of Oikonomia
a)
Household of the Management
b)
Household Management
c)
Management of the Household
30.
Universal Phenomenon
a)
Scarcity
b)
Labor
c)
Forced Work
31.
What is NOT the main Problem in Economics?
a)
Wants are Unlimited
b)
Wants are Limited
c)
Resources are Limited
32.
"Mostly producers concern"
What production question is being asked/stated?
What production question is being asked/stated?
a)
How to Produce?
b)
What to Produce?
c)
Why Produce?
33.
"Very important to maintain the balance of supply and demand"
What production question is being asked/stated?
What production question is being asked/stated?
a)
How to produce?
b)
How much to produce?
c)
To Avoid what?
34.
Aim is to satisfy human wants and needs
a)
Food
b)
Resources
c)
Dibisoria
35.
Includes plans, minerals, and animals
a)
Natural Goods
b)
Natural Resources
c)
Nature
36.
Considered as Manpower
a)
Man-Made Resources
b)
Human Resources
c)
Living Resources
37.
Infrastructure and Machineries are some examples
a)
Personal Resources
b)
Robotic Resources
c)
Man-Made Resources
38.
What is NOT a Types of Factors
a)
Land
b)
Labor
c)
Capital
d)
None, all are Types
39.
(Types of Factors)
Natural resources found above, on and below the earth
Natural resources found above, on and below the earth
a)
Terrain
b)
Land
c)
Grounds
40.
(Types of Factors)
Unemployed rate and Employed rate
Unemployed rate and Employed rate
a)
Work
b)
Labor
c)
Toil
41.
(Types of Factors)
Turns raw materials to finished materials
Turns raw materials to finished materials
a)
Finanace
b)
Capital
c)
Money
42.
(Types of Factors)
Either fixed capital or CDG
Either fixed capital or CDG
a)
Capital
b)
Finance Capital
c)
Physical Capital
43.
(Types of Factors)
Physical Capital cannot be acquired without
____________ _____________
Physical Capital cannot be acquired without
____________ _____________
a)
Capital
b)
Financial Capital
c)
Money
44.
Competitive and Profitable
a)
Entrepreneurship
b)
Business
c)
Market
45.
What is NOT a quality of an entrepreneur?
a)
Passionate
b)
Confident
c)
Smart
d)
Determined
46.
Idea of population growth exponential while food supply is arithmetic
a)
Laissez-Faire
b)
Malthesian Thory
c)
Marxism
47.
It refers to the care and management of the soil
a)
Soil Conservation
b)
Land Conservation
c)
Nature Conservation
48.
It is the process of replacing trees
a)
Deforestation
b)
Forest Conservation
c)
Legal Logging
49.
Process of improving the quality of life in the city
a)
Urban
b)
City
c)
Metropolitan
50.
Buyers can boycott
a)
Consumer Rights
b)
Consumer Power
c)
Consumer Equity
51.
Karl Marx
a)
Communism
b)
Socialism
c)
Fascism
52.
No freedom
a)
Fascism
b)
Socialism
c)
Communism
53.
Industrial Revolution
a)
Socalism
b)
Fascism
c)
Communism
54.
Full name of Sir Migs
a)
Miguel Daganzo Saltiga
b)
Miguel Daganso Saltiga
c)
Miguel Daganco Saltiga
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