Summative Exam

Question 1

Where does the supply and demand intersect?

Answer 1

Equilibrium price

Question 2

Where does the desire of the consumer for a commodity reflect?

Answer 2

Demand

Question 3

Strength, Weaknesses, Opportunities and Threats are what part of technique?

Answer 3

SWOT

Question 4

Where does the exchange of goods and services across international borders of territories take place?

Answer 4

International Trade

Question 5

What part of the business environment analysis technique uses opinion based on outside experts?

Answer 5

Expert Opinion

Question 6

The unemployed spend less because of _____.

Answer 6

Lower personal income

Question 7

KPIs means ________.

Answer 7

Key performance indicator

Question 8

What types of businesses convert raw materials into finished goods?

Answer 8

Manufacturing

Question 9

Businesses are reliant on ________.

Answer 9

Income

Question 10

What is a product that is offered for sale at all possible prices in the market?

Answer 10

Supply

Question 11

Under perfectly inelastic a percentage change in price creates no change in quantity demanded.

Answer 11

True

Question 12

The price elasticity of supply measures the quantity of goods that buyers are willing to buy

Answer 12

True

Question 13

Under the Law of Supply, when price goes up, supply goes UP.

Answer 13

True

Question 14

When income goes up, consumers buy MORE.

Answer 14

True

Question 15

Elasticity is the responsiveness of demand/supply to a change in its determinants.

Answer 15

True

Question 16

The price elasticity of supply measures the quantity of goods that buyers are willing to buy.

Answer 16

True

Question 17

Current Problems of Filipino Entrepreneurs:

Answer 17

Inadequate access to technology
Financing Capital
Marketing Advice
Logistical problem in setting up and maintaining their competitiveness in their community

Question 18

Tools and Techniques in Making an Efficient Business

Answer 18

Use technology to speed up workflow

Shorter meetings fuel efficiency

Smart office space pays

Small changes, big savings

Manage staff expenses

Keep a firm grip on cash flow

Stay connected on the move

Use time more efficiently

Get the best deal on insurance

Do not be lax with the legaL

Question 19

Types of Business Competition

Answer 19

Performance Competition
Head to Head Competition
Controlling Supplies
Advertising
Distribution
Predatory Competition

Question 20

Main Determinants of Investment:

Answer 20

The Expected Return on the Investment

Business Confidence

Changes in National Income
Interest Rate

Question 21

Effect of High Taxes on Business:

Answer 21

Inadequate Incomes

Low Wages

High Prices

Substandard Products

Product Unavailability and Continuation

Poverty and High Crime

Question 22

Impact of Suppliers to Business

Answer 22

Quality

Timeliness

Competitiveness

Innovation

Finance

Question 23

These are the elements that the business or project could exploit to its advantage.

Answer 23

Opportunities

Question 24

It is the exchange of capital, goods, and services across international borders or territories, which could involve the activities of the government and individual.

Answer 24

International Trade

Question 25

The process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit.

Answer 25

Retail

Question 26

Agribusiness is a business that earns most or all its revenue from

Answer 26

Agriculture

Question 27

GDP means:

Answer 27

Gross Domestic Product

Question 28

The following are the determinants of spending, which is not?

Answer 28

None of the above

Question 29

Businesses are reliant on:

Answer 29

Income

Question 30

A rise in interest rates will stimulate:

Answer 30

Savings

Question 31

The unemployed spends less because of:

Answer 31

Lower personal income

Question 32

Distributor of goods and services:

Answer 32

Supplier