MODULE 3

Question 1

Specialized branch of economics that concern with the intimate relationship between economics and social behavior which have an impact on how consumers behave in the economy and eventually shape the economy.

Answer 1

ethics, social norms, social philosophies

Question 2

seeks to predict what kind of results to expect when the society has been changed

Answer 2

study of social economics

Question 3

the social and economic factors that shape and determine dynamics a society will experience. These factors affect the behavior of a particular groups known as socioeconomic class.

Answer 3

socioeconomic factors

Question 4

One of the most interesting behaviors of the members of socioeconomic class is the

Answer 4

behavior as consumers

Question 5

the social science that studies how economic activity affects and is shaped by social processes.

Answer 5

socioeconomics or social economics

Question 6

In general it analyzes how modern societies progress, stagnate, or regress because of their local or regional economy, or the global economy

Answer 6

socioeconomics

Question 7

are characteristics that define the quality of life in a society.

Answer 7

socioeconomic factors

Question 8

they influence behaviors, attitudes, trends, tastes and lifestyles of individual

Answer 8

socioeconomic factors

Question 9

considered the driver of socioeconomic impact and this is the major predictor of business success. There are different socioeconomic factors that affect the business industry.

Answer 9

business

Question 10

what are the socioeconomic factors that affect business industry

Answer 10

• demand and supply
• marginal and total utility
• money and banking
• economic growth and development
• income and employment
• general price level
• trade cycle
• inflation
• recession
• exchange rate
• interest rate
• government regulations
• fiscal policy
• tourism
• quality of life

Question 11

These two are the principal factors that affect the operation of the business.

Answer 11

demand and supply

Question 12

the will and ability of consumers to buy particular commodity

Answer 12

demand

Question 13

the ability of the business to provide for the demand of consumers.

Answer 13

supply

Question 14

the amount of satisfaction that is derived by consumers from the consumption of goods

Answer 14

utility

Question 15

the amount of satisfaction that is derived by consumers from the consumption of goods. After the continuous and successive consumption of the same goods, the satisfaction experienced by consumers starts to decrease. Diminishing utility is among the external factors affecting business.

Answer 15

marginal and total utility

Question 16

Banking facilitates monetary and fiscal policies that affect business, and customers. Money is circulation dictates the purchasing power or the demand of the customers. Banking facilities dictates the borrowing capacity of individuals as well as the business. Banking policies play decisive role that affects the prices of goods and interest rates of investment and asset prices. The monetary policies influence the economic activities and inflation. This dynamic process is known as policy transmission mechanism.

Answer 16

money and banking

Question 17

facilitates monetary and fiscal policies that affect business, and customers and dictates the borrowing capacity of individuals as well as the business.

Answer 17

banking

Question 18

circulation dictates the purchasing power or the demand of the customers

Answer 18

money

Question 19

play decisive role that affects the prices of goods and interest rates of investment and asset prices.

Answer 19

banking policies

Question 20

influence the economic activities and inflation. This dynamic process is known as policy transmission mechanism.

Answer 20

monetary policies

Question 21

the most important economic factor that a business has to cater to the demands of a dynamic society.

Answer 21

economic growth and development

Question 22

dictates the amount of finances that the society is earnings

Answer 22

economic growwth

Question 23

indicate the volume of money that is invested.

Answer 23

development

Question 24

Other important factor that affects the operation of the business are employment density and rate of income. The per capita income and density of employment determines the rate of demand, density of demand and purchasing power of the people.

Answer 24

income and employment

Question 25

determines the rate of demand, density of demand and purchasing power of the people.

Answer 25

per capita income and density of employment (income and employment)

Question 26

are important aspect of the economy that plays part in the growth of the business. The cost of raw materials, paying power of people, cost of production and cost of transportation are important components that determine the general price levels and in turn lower the profit margin of a business.

Answer 26

general price level

Question 27

plays a part in fluctuating the cost of goods and commodities in an economy. Prosperity, recession, depression and recovery are the phases of business cycle that affect the demand and supply of goods.

Answer 27

trade cycle

Question 28

affect the general price levels of the non-essential and essential commodities.

Answer 28

trade cycle

Question 29

occurs when there is too much supply of money in the economy that is not supported by the output of goods and services. When there is a lot of money in circulation, the prices of goods also increase in order to sustain business resulting in the increase, resulting in the increase of cost of raw materials which are need in the production of goods.

Answer 29

inflation

Question 30

companies face decrease of sales revenues and profits. During ____________ big organizations are not the only one who is affected but including the small ones which act as vendors of the big companies. Small organizations find it difficult to survive during recession due to lack of financial funds or availability of loans. People may shift their preferences to affordable products

Answer 30

recession

Question 31

important factor to consider for any business involved in importation and exportation of various good and services. When _____ ______ fluctuate, they affect the ability of a company to pay its international suppliers, payment will be converted into dollar currency.

Answer 31

exchange rate

Question 32

has a direct impact on the loans that business take to sustain or propel their growth. The higher the interest rates, business find it difficult to commit to projects that require interest rate.

Answer 32

interest rate

Question 33

for the safety of man, animals and environment. Industries that are heavily regulated and introduction of new laws discourage.

Answer 33

government regulations

Question 34

refers to the government’s spending and taxation practices and this has a great impact to every individual and business in the country.

Answer 34

fiscal policy

Question 35

_____ ______ influences the cost of borrowing, the size of the tax bill, amount of money the average consumer can afford to spend.

Answer 35

fiscal policy

Question 36

paly vital role in the development of economic growth of the global economy. _______ brings employment opportunities, enhances the economy of the region, and creates revenue for the local government.

Answer 36

tourism

Question 37

On the social level ______ leads to intercultural interaction.

Answer 37

tourism

Question 38

the most overlooked factor when comparing competing metro areas is the livability or the quality of life. This can be the X factor that differentiates two competitive metro areas

Answer 38

Quality of life