ALEJANDRO FIRMEZA MEMORIAL NATIONAL HIGH SCHOOL

Aguiauan, Miagao, Iloilo

APPLIED ECONOMICS
Summative Test

Name:____________________________ Grade/Section:___________Date:___________Score:________

Test I. Direction: Choose the letter of the correct answer. Write your answers on the space before each
number.
_______1. The location of countries influences on the trades that businesses do:
A. Environmental factor B. Political change C. Government D. None of the above
_______2. In backing up plans one must have:
A. Alternative sourcing B. Support customers plan C. Strategic planning D. None of the above
_______3. It is the process of international integration arising from the interchange of world views, products, ideas and
other aspects of culture:
A. Nationalism B. Industrialization C. Globalization D. Internalization
_______4. Across the globe, businesses expect resource companies to maintain:
A. Code of conduct B. Ethical Standard C. Norms and Rules D. All the above
________5. One of the negative effect of globalization is:
A. Free competition B. Aggravates income C. Market Inconvenience D. None of the above
________6. The amount of money individuals earns from their daily economic activities, be it employment, business or
investments:
A. Income B. Salary C. Wage D. All the above
________7. Responsible leadership requires:
A. Industry business plan B. Organizational plan C. Company plan choices D. Risk management plan
________8. It is defined as the ability to survive:
A. Durability B. Flexibility C. Stability D. Viability
________9. This relates to changes in government influence:
A. Economic change B. Environmental change C. Government D. Political change
________10 The first and most important step as your business engages in damage control associated with a negative
impact is to:
A. Identify the problem and correct it
B. Solve immediately the problem at hand
C. Conduct a meeting to solve the problem
D. Let time solve the problem

Test II.TRUE or FALSE

Direction:Write TRUE if the statement is correct and FALSE if it is incorrect. Write your answers on the space before each
number.

___________1. The labor costs is the total cost of all labor used in a business.
___________ 2. A carpenter wage is an example of direct labor cost.
___________ 3. The salaries of engineers who prepared the program of work of an irrigation project is a direct
labor cost.
___________4. The low employee turnover may cause company to incur losses.
___________5. Competition among businesses could not affect their profit.
___________6. Business owners will resort to squeezing profit or to reducing employment if there is reduction
in minimum wage.
___________7. Double taxation means, the government will tax the corporation’s profit and the income
(dividend) of its owners, the stockholders .
___________8. The unit price and the unit labor cost should be minimized in order to maximize profit.
___________9. Complicated and excessive taxes may discourage all investors to put their capital in business.
___________10. High business taxes is the same as rising the cost of products which will result to high prices.

Prepared by :

Miss Jonadhe C. Mondeja

Subject Teacher

Noted by :

______________________________
Parent/Guardian Name and Signature

App Econ/2020/jonadhe.mondeja@deped.gov.ph
#2nd summative test/2nd quarter /1/1/2021
Test II. Enumeration: Write the correct answer.

1-4 Trends in ICT

1.________________________________________
2.________________________________________
3.________________________________________
4.________________________________________

5-7 Mobile Technologies

5. _______________________________________
6._______________________________________
7._______________________________________
8-15 Features of Web 2.0
8. ______________________________________
9. ______________________________________
10.______________________________________
11.______________________________________
12.______________________________________
13.______________________________________
14-20 Tips to Stay Safe Online
14. ______________________________________
15.______________________________________
16.______________________________________
17.______________________________________
18.______________________________________
19.______________________________________
20._____________________________________

Mil/2019/jonadhe.mondeja@deped.gov.ph
#summative SCORE: