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WorksheetsECONOMICS THOUGHTS FINALS
Total questions: 20
Worksheet time: 15mins
Who is the Father of Modern
Economics
(a)
Rev. Thomas Malthus wrote in
opposition to the popular
view in 18th-century
TRUE
FALSE
Most important of his
contribution was the
law of comparative
advantage, a
fundamental argument
in favor of free trade
among countries and of
specialization among
individuals
DAVID JOHN
DAVID RICARDO
RICARDO
DAVID MALTHUS
Proponent of
utilitarianism, an ethical
theory developed by
Jeremy Bentham
TRUE
FALSE
deals with different thinkers and theories in the subject that became political
economy and later economics, from the ancient world to the present day. It encompasses many different
schools of economic thought.
economic history
History of economic thought
economics
history of Philippines
ADAM SMITH defines Economic thought as the sum total of all the opinions and desires concerning
economic subjects especially with public policies of different times and places.
TRUE
FALSE
John Stuart Mill (1844): defines the subject in a social context as:
The science which traces the laws of phenomena of society as it arise from the combined operations of mankind for the production of wealth, so far as those phenomena are not modified by the pursuit of
any other subject.
TRUE
FALSE
discusses economic ideas in order of time.
The economic ideas of different economists can be presented year wise and can be studied.
ideal approach
Conceptual approach
Chronological approach
positive approach
This was first adopted by Greek philosopher, Plato. In the past economics
was considered as a handmade of ethics. Naturally philosophical approach was adopted by the very
early writers/thinkers to discuss economic ideas.
philosophical approach
neo classical approach
keynes
welfare approach
The landowners lived in a kinship headed by a DATU or a chief
within a community called (a)
BARANGAY comes from the Malay word (a) which
means “sail boat”.
The introduction of the first steam machine
for hulling rice by (a)
NicholasLoney had helped in the production of rice and
sugar
TRUE
FALSE
An (a) is a piece of land given to the loyal servants of
the King of Spain.
established this with
the goal of developing the agricultural sector of the country
and helping the country to be free form Mexico’s help.
GOV REMULLA
ADAM SMITH
General Jose Basco y Vargas
General Josue Basco y Vargas
is a market structure where there is only one
individual or company, controlling the market
(a)
It was the first trade act which opened our ports to the
United States in 1909.
(a)
In order to achieve the real the real essence of free trade
between the Philippines and the US, tariffs and quotas were
abolished but still, the law favored the Americans
(a)
This law established the Commonwealth
government in the Philippines to
prepare is for independence.
(a)
WHO IS THE 16TH PRESIDENT OF THE PHILIPPINES?
(a)
