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Socio-economic Impact Analysis

Total questions: 40

Worksheet time: 30mins

Name
Class
Date
1.

What analysis focuses on the impacts of business operations on various sectors that it interacts with?

a)

SWOT Analysis

b)

Environmental Scanning in Industry Analysis

c)

Socioeconomic Impact Analysis

d)

Economic Analysis

2.

What is the intent of an impact analysis?

a)

to identify the strengths, weaknesses, opportunities, and threats of a business

b)

to identify and assess the effects of its operations on various sectors

c)

to analyze the various components of economics as a social science

d)

to help the company in deciding which areas they have to improve in to gain more profit

3.

The firm creates an impact on:

a)

sellers only

b)

buyers only

c)

both sellers and buyers

d)

buyers more than sellers

4.

Externalities are ___________

a)

the external forces that indirectly affects the transactions of firms and suppliers

b)

part of the transaction made between businesspeople, specifically, sellers and buyers

c)

not to be minded when making a socio-economic impact analysis because focusing on the inside parties is more important

d)

benefits reaped and costs incurred by parties outside the transactions between firms and suppliers; and firms and their buyers

5.

Choose two main categories of inputs in its production process.

a)

intermediate inputs

b)

starting inputs

c)

variable inputs

d)

factor inputs

6.

The impact of the production operation of the firm on the suppliers of its intermediate inputs will depend all of these, except:

a)

sources of raw materials

b)

stage of product transformation

c)

bargaining power of suppliers

d)

market power of the firm

7.

Sourcing raw materials from internal suppliers can create income and employment opportunities to its producers. While sourcing them from foreign suppliers will have a direct effect on a foreign economy.

a)

Independent Suppliers vs. Subsidiary Conglomerate

b)

Internal vs. External Sources

c)

Raw vs. Semi-processed Inputs

d)

Market power of the firm

8.

Sourcing intermediate inputs from independent suppliers domestically may have greater ripple effects than sourcing it from a subsidiary of a conglomerate.

a)

Independent Suppliers vs. Subsidiary of Conglomerate

b)

Internal vs. External Sources

c)

Raw vs. Semi-processed Inputs

d)

Market Power of the Firm

9.

Sourcing intermediate inputs that are still very raw in product transformation will have limited multiplier effects. Sourcing semi-processed intermediate inputs imply that they have undergone several stages of processing, thus contributing several values of added.

a)

Raw vs. Semi-processed Inputs

b)

Market Power of the Firm

c)

Internal vs. External Outputs

d)

Independent Suppliers vs. Subsidiary of a Conglomerate

10.

The purchasing firm may extract market power in the industry by extracting surplus from them.

a)

Independent Suppliers vs. Subsidiary of a Conglomerate

b)

Internal vs. External Sources

c)

Raw vs.Semi-processed

d)

Market Power of the Firm

11.

Which sourcing of factor input deals with manpower services?

a)

Labor Services

b)

Sourcing Funds for Capital Formation

c)

Sourcing for Land Inputs

d)

Payment of Taxes

12.

It is beneficial to the laborers, firm and the community if the labor services are drawn from the community where the firm is located. Because of this, some companies willing to establish dormitories for their workers. housing facilities for their staff, and provide handsome transportation allowance for their managers.

a)

Minimum Wage vs. Market Rate

b)

Direct Employment vs. Subcontracting

c)

Within the Community vs. Outside the Community

d)

Organized vs. Non-organized

e)

Human Resource Development

13.

Some big companies provide training programs for their workers to enhance their skills that may help the company gain more profit.

a)

Minimum Wage vs. Market Rate

b)

Direct Employment vs. Subcontracting

c)

Within the Community vs. Outside the Community

d)

Organized vs. Non-organized

e)

Human Resource Development

14.

These refer to the working conditions of having shifts in duration of work and situations where the workers are assigned to fields and places other than the normal business office.

a)

Minimum Wage vs. Market Rate

b)

Direct Employment vs. Subcontracting

c)

Within the Community vs. Outside the Community

d)

Organized vs. Non-organized

e)

Temporal and Spacial Conditions

15.

Sometimes, companies pay a higher salary to professionals with exceptional skills and talent in their specialized areas. But typically, the government mandates a specific minimum wage for all workers.

a)

Minimum Wage vs. Market Rate

b)

Direct Employment vs. Subcontracting

c)

Within the Community vs. Outside the Community

d)

Organized vs. Non-organized

e)

Temporal and Spacial Conditions

16.

Direct hiring of workers may be expensive but it has a number of positive effects on the laborers. Otherwise, sourcing them from subcontractors creates greater income for manpower services company.

a)

Minimum Wage vs. Market Rate

b)

Direct Employment vs. Subcontracting

c)

Within the Community vs. Outside the Community

d)

Organized vs. Non-organized

e)

Temporal and Spacial Conditions

17.

In large companies, laborers have a more solid union that results in the company having to cater to their demands on higher compensation, favorable working conditions, and other benefits.

a)

Minimum Wage vs. Market Rate

b)

Direct Employment vs. Subcontracting

c)

Within the Community vs. Outside the Community

d)

Organized vs. Non-organized

e)

Temporal and Spacial Conditions

18.

__________ are needed by a company to start its operation, purchase equipment, and expand its physical plant.

a)

Funds

b)

Capital

c)

Sponsors

d)

Investors

19.

Small-scaled companies usually start up a business from their own personal saving while big companies may apply for a loan from the bank.

a)

Own Savings vs. Capital Market

b)

Foreign Borrowing vs. Foreign Direct Exchange

c)

Market Determined vs. Regulated Rates of Return

20.

Company managers have the responsibility to give the owners of the capital a fair rate of return of their investments to encourage them to keep investing. Sometimes, the government regulates the rate of return of companies that they support.

a)

Own Savings vs. Capital Market

b)

Foreign Borrowing vs. Foreign Direct Exchange

c)

Market Determined vs. Regulated Rates of Return

21.

Companies may source their capital from foreign parties. They may borrowing money or inviting foreign partners through the foreign direct investments (FDI)

a)

Own Savings vs. Capital Market

b)

Foreign Borrowing vs. Foreign Direct Exchange

c)

Market Determined vs. Regulated Rates of Return

22.

Which sourcing of input talks about the need for office space and land to ensure the continuity of business?

a)

Sourcing Funds for Capital Formation

b)

Sourcing for Land Inputs

c)

Sourcing for Labor Services

23.

Refers to the high need of some industries for land like plantations and mining companies.

a)

Location of Business and Opportunity Cost of Land Use

b)

Land Intensity of Business

24.

Land located in highly-urbanized areas like the Metro Manila are sold or leased at a high price due to the opportunity cost it has.

a)

Location of Business and Opportunity Cost of Land Use

b)

Land Intensity of Business

25.

Which input sourcing refers to the search and training of companies for skilled professionals to make use of their talent?

a)

Sourcing for Labor Services

b)

Sourcing for Land Inputs

c)

Sourcing Funds for Capital Market

d)

Sourcing for Managers and Professionals

26.

In some small companies, the management team is homegrown. They start as clerks, move up to supervisors, assigned as managers, and conclude their careers as top officers of the company. They are often family, or relatives of the owner. Their loyalty and knowledge are mostly assured.

a)

Insiders vs. Outsiders

b)

In-house vs. Outsourced Training

27.

In large companies, they prefer hiring professional managers from other companies because they exhibit dynamism or creativity that help the company broaden their work. However, the loyalty of this kind of workers are not reassured.

a)

Insiders vs. Outsiders

b)

In-house vs. Outsourced Training

28.

Some professionals are being asked or sponsored by their hiring company for further training. Training may be done inside the company, from universities, or from abroad.

a)

Insiders vs. Outsiders

b)

In-house vs. Outsourced Training

29.

Payment of taxes are still considered a component of production cost just like, wages, interest, and rent.

a)

True

b)

False

30.

Choose all destinations of outputs.

a)

to other companies as intermediate inputs for further processing

b)

final outputs to local consumers, investors, and government agencies

c)

to the global markets as intermediate or final outputs (exports)

31.

Outputs help in the integration of industries and enhancing productivity of the buying firms and industries through/by _________

a)

giving them to other industries when in surplus

b)

recycling them to make new outputs

c)

selling outputs as intermediate inputs to other firms

d)

encouraging other firms to make outputs similar to theirs

32.

When an output is sold to different industries as intermediate inputs, the forward and backward linkages of industries create and additional income and employment to various sectors in the economy.

a)

Contributions on Industrial Integration

b)

Contributions to Productivity of Other Industries

33.

If a quality output is sold as an intermediate input, buying firms will have more profit and, ultimately will be more productive in doing their business since they do not have to pay for high production costs.

a)

Contributions to Industrial Integration

b)

Contributions to Productivity of Other Industries

34.

The other portion of the outputs of firms can be disposed as final demand.


What does this line mean?

a)

Outputs may still be used for further processing or transformation before going to the different consumer households

b)

Product and services are consumed for their worth in enhancing consumers' welfare

35.

All are major domestic buyers of final goods and services, except:

a)

government agencies

b)

investors

c)

consumers

d)

other firms

36.

An output of a business enterprise can affect households as consumers of these goods and services.

a)

Government Consumption

b)

Exports

c)

Investment

d)

Personal Consumption

37.

There are firms that produce capital goods like equipment, agricultural implements, and industrial tools that are sold to other firms not as intermediate inputs but as factor inputs.

a)

Government Consumption

b)

Exports

c)

Investment

d)

Personal Consumption

38.

The government can improve the community by the taxes that the companies pay to them.

a)

Government Consumption

b)

Exports

c)

Investment

d)

Personal Consumption

39.

Some outputs are disposed globally, especially when the product is of high quality or famous from all over the world.

a)

Government Consumption

b)

Exports

c)

Investment

d)

Personal Consumption

40.

Bonus Question: What is the title of this report/game?

a)

Socio-economic Impact Analysis

b)

NOT THIS ONE

c)

THIS IS NOT THE ANSWER

d)

JUST CLICK THE FIRST CHOICE AND GET AN EXTRA POINT