Reminders: Choose the correct answer and write your answer to your allswer sheet
Multiple Choice:
1. It is the application of statistical and mathematical theories to economics to test hypothesis and forecast
future trends.
a. Scarcity b. macroeconomics c. Econometrics d. Econbmical
2. This is the application of economic theories and principles to real world situations with the desired aim of
predicting potential putcomes.
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d. Natural Resources
b. Econometrics c. What to produce
a. Applied Economics
3. Came from nature that are used in production including land, raw materials and natural processes.
a. Applied Economics
b. Econometrics c. What to produce
d Natural Resources
4. Once the goods are produced, how they shall be distributed?
a. For whom to produce
b. What to produce
c. How to produce
d. Finite resources
5. Goods and services to be produced are based on the needs of the consumers.
a. For whom to produce
b. What to produce
c. How to produce
d. Finite resources
6. This has something to do with the combination of resources to be used.
a. For whom to produce
b. What to produce
c. How to produce
d. Finite resources

7.It is one of the numerous Infrastructures, systems, institutions, social relations, and procedures, wherein buyers and
sellers usually interact with each other to exchange goods and services.
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a market
b. monopoly
c. stock exchange
d. market structure
8. It deals with strategic decision making and focuses on both economics and marketing, making professional
entrepreneurs precisely judge industry, policy changes, and market news.
a market
b. monopoly
c. stock exchange
d. market structure
9. Suffice the interest of the public, the government usually restricts market entries in a legal way, which is through
copyright laws and patents.
a institution
b. market
c. government regulation
d. economic scale
10. It is only a single company that produces a certain product in the entire market.
a. monopoly
b. market
c. duopoly
stock market
a, oligopoly
11. type of market structure where firms dominate the market by supplying either simlar or differentiated products.
b. government regulation
C. stock market
d. institution
12. is the art of turning an idea into a business.
a stock market b. erftrepreneurship
c business d. perfect competition
13. A property from which the owner receives payment from the occupant(s), known as tenants, in return for occupying or
using the property?
a tax
b. government institution
c. rental
d. market​

PA ANSWER PO PLEASE