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WorksheetsPRE-FINAL REVIEW APPLIED ECONOMICS
Total questions: 16
Worksheet time: 18mins
This refers to the requirements for a large production plants to a feasible operation in the
industry.
Scale barriers
Limited information
Legal barriers
Product Differentiation
The kind of market structure with a lesser degree of market concentration but still with a
significant market power is observed since few sellers are colluding or forming a cartel to set the
price that would give the maximum profit for the industry.
Oligopoly
Perfect Competition
Monopsony
Monopoly
This kind of market structure is considered the most concentrated with a single seller
determining the price that would maximize the profit of the business enterprise.
Oligopoly
Perfect Competition
Monopoly
Monopsony
This framework was developed by Michael Porter.
SWOT Analysis
Environmental Scanning
PORTER’S Five Forces
Industry Analysis
This refers to the number of sellers and buyers in the market.
Market Entry
Market Structure
Market Concentration
Product Differentiation
These are undesirable impacts of external factors because they can potentially impair the
profitability of firms in an industry.
Strengths
Weakness
Threats
Opportunities
Positive impacts of various external environments on the profitability of an industry.
Strengths
Weakness
Threats
Opportunities
Modifications in family structure and other _________ have impact on consumer behavior and
tastes.
Changes in natural environment
Demographic changes
Social Changes
Technological Developments
Like strengths, these are internal characteristics of firms or industry but unlike strengths they
mitigate the profitability of firms and industry.
Weakness
Opportunities
Strengths
Threats
In SWOT, these are internal characteristics of firms or industry that can contribute directly to the
profitability of firms and the industry.
Weakness
Opportunities
Strengths
Threats
Identify the level of profit maximization according to the type of market structure the example
belongs to. Write MIP if it belongs to Minimal Profit, MEP if Medium Profit, and HP if High
Profit.
PAL
(a)
Identify the level of profit maximization according to the type of market structure the example
belongs to. Write MIP if it belongs to Minimal Profit, MEP if Medium Profit, and HP if High
Profit.
Sari-sari Store
(a)
Identify the level of profit maximization according to the type of market structure the example
belongs to. Write MIP if it belongs to Minimal Profit, MEP if Medium Profit, and HP if High
Profit.
All Day Convenience Store
(a)
Identify the level of profit maximization according to the type of market structure the example
belongs to. Write MIP if it belongs to Minimal Profit, MEP if Medium Profit, and HP if High
Profit.
Jollibee Foods Corporation
(a)
Identify the level of profit maximization according to the type of market structure the example
belongs to. Write MIP if it belongs to Minimal Profit, MEP if Medium Profit, and HP if High
Profit.
NASA
(a)
Tick Check if the statement is true. Don't do anything if it is false.
Industrial works is the science and art of cultivating plants and producing livestock.
Macroeconomic policies are course of actions of the government meant to stabilize and promote growth in the economy.
The rapid developments in technology in the recent years particularly in ICT have affected many business and industries in several ways.
It is not an objective for a firm to earn profit, which is the difference between revenues and costs.
According to Porter, the stronger the forces of competition to have bearing on the industry, the lower its profitability and the less attractive the industry for business enterprises will be.
