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Ss t3 Cua 14-15
Ss t3 Cua 14-15
Third Term
WORLD ECONOMICS
CULMINATING UNIT ASSESSMENT
CN:
P= ___
U= ___
Name: _______________________________________
15
15
Section: S- ____ Date: _______ Teacher: Ms. Gavan/
Ms. Lubuguin
I. A. PROCESS. Provide the correct answer for each item. Show your solutions on the box provided.
Final answers should be boxed and in decimal form, rounded-off to 2 decimal places.
1. Oil Trade between Iran and United Arab Emirates (UAE)
The consumption behaviour of UAE with respect to oil is represented by the demand equation
Qd = - 20P+10000. On the other hand, the production behaviour of Iran with respect to its oil production is
represented by the supply equation Qs = 40P-5000.
Look for the following:
1 2. The price to which trade could happen between Iran and UAE (Pe)
3 4. The quantity of oil that Iran and UAE can agree on (Qe)
5 6. The graph that represents the relationship of oil trade between Iran and UAE
(Equilibrium graph)
7 8. What will happen if Iran raises the price above the equilibrium? Explain.
1-2. Price Equilibrium (Pe) (2 points)
11 12. Essay
After a short market study you made, you are able to identify a good price and its projected demand. However,
your classmates disagree with your market study and suggest setting the price higher to make more profit.
Consider the given the demand schedule based on your study:
Price of
Bubble Tea
P15
P20
13 15. Essay: Is it wise to increase the price of Bubble Tea as suggested by your
friends? Support your answer in terms of the following: (3 points)
* Relationship of Price and Quantity demanded
* Responsiveness of the consumer to price change
* Type and nature of your product
13 15. Essay
III. UNDERSTANDING. Answer the essay below briefly but thoroughly. Refer to the rubrics for grading.
Read the article below and write a commentary about the article.
Question:
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RUBRICS FOR GRADING
5 Answer is correct and clear. More than 3 examples are given as supporting details.
4 Answer is correct and clear. 3 examples are given as supporting details.
3 Answer is correct and clear. 2 examples are given as supporting details.
2 Answer is correct. An example is given as a supporting detail.
1 Answer is correct but no supporting details are given.
0 No answer is given.