Answer:

Multiple choice.

Direction: Choose the correct answer and write the letter on the blank provided for.

a 1. It is the economic allocation and efficient use of available resources for the satisfaction of human wants.

a. Economics b. Sociology c. Science d. Budget)

2. Economics is classified as a (a. Social Studies b. Social Science

c. Social behavior ) because it deals with

the study of human's behavior and means of livelihood.

3. The (a. Demography b. Topography c. Geography) of a region determines the main resources of the people

like fishing and farming.

4. Economists qualify the validity of economic principles by using the assumptions of (a. Ceteris paribus

b. Empirical method C. Scientific method) which means other things being equal or constant.

b. Principle

5. An economic (a. Method

policy or applied economics.

C. Assumption) which is put in action becomes an economic

6. (a. Limited b. Efficient

the members of the society.

c. Productive) resources are not only scarce but also unjustly distributed among

b. Population

7. One of the greatest problem of our country is the growth of (a. Varied resources

c. Pollution) which the government can hardly cope up with the needs of the people.

8. An economic system is a set of economic (a. Institutions

given economy

b. Principles c. Theories) that dominates a

9. It is a free enterprise economy where the government doesn't intervene in its economic affairs

(a. Ceteris paribus

b. Laissez faire

c. Oikonomus)

10. The process by which work is facilitated is (a. Method b. Technology c. Machineries)

11. The production of goods are said to be productive when (a. Inputs

lesser cost

b. Outputs

c. Services) are at

12. It deals with the economic behavior of individual units such as consumers, firms, and the owners of the fa

of production. (a. Microeconomics b. Maxi-economics c. Macroeconomics)

23. (a. Macroeconomics b. Microeconomics

c. Max-economics) deals with the econo

behavior of the whole economy or its group like the government, business, and households.

4. The gross national product (GNP), level of employment, national income, general level of prices, and to

expenditures are the concerns of (a. Macroeconomics

b. Microeconomics c. Mad-econom