Reviewer in Civics Quarter 4 Bethel

Name: Date: Score:

1. What is a conductive to the continuous improvements of industrial efficiency?

a. competition b. Industry c. Imperfect completion

2. What leads to producers to eliminate wastes and cuts costs so that they may undersell others.

a. competition b. Industry c. Imperfect completion

3. What weeds out those whose cost remain high and thus operates to concentrate production in the
hand of those whose cost are low?

a. competition b. Industry c. Imperfect completion

4. What do you call to any group of firms that produce or sell identical products?

a. competition b. Industry c. Imperfect completion

5. What are the broad types of market structure?

a. imperfect and perfect competition b. Industry and competition

6. What is a competitive if each buyer and seller are small compared to the size of the market ?

a. market b. market power c. competitive market

7. What has little ability to influence market prices if each buyer and seller is small?

a. market b. market power c. competitive market

8. It is if a firm can influence the market price of the good it sells, it is said to have_________.

a. market b. market power c. competitive market

9. What is sometimes called a perfectly competitive market, and has two characteristics?

a. market b. market power c. competitive market

10. While a competitive firm is a price taker, a monopoly firms is a ________?

a. price maker b. price taker c. price producer

11. What is a firm that is the sole seller of a product without close substitutes?

a. monopoly b. oligopoly c. barriers to entry

12. The fundamental cause of monopoly is________?

a. monopoly b. oligopoly c. barriers to entry

13. What remains the only seller in its market because others firms cannot enter the market and
compete with it?

a. monopoly b. oligopoly c. barriers to entry

14. What is a key resource required for productions is owned by single firm?

a. monopoly resource b. Government regulation c. The production process

15. What gives a single firm the exclusive right to produce some good or service?

a. monopoly resource b. Government regulation c. The production process

16. What is a single firm can produce output at a lower cost than can a larger number of producers?

a. monopoly resource b. Government regulation c. The production process

16. The simplest way for a monopoly to arise is for a single firm to __________?

a. own a key resource b. natural monopoly c. monopolist

17. What could command quite a high price, even if the marginal cost of pumping an extra gallon is low?

a. own a key resource b. natural monopoly c. monopolist

18. What is a monopoly that arises because a single firm can supply a good or service to entire market at
a smaller cost than could two or more firms?

a. own a key resource b. natural monopoly c. monopolist

19. What is an example of natural monopoly?

a. Distribution of water b. natural monopoly c. monopolist

20. What is a market structure in which only a few sellers offer similar or identical products?

a. oligopoly b. monopoly c. Game Theory

21. What is the study of how people behave in the strategic situations?

a. oligopoly b. monopoly c. Game Theory

22. What is an agreement among firms over production and price?

a. Prisoner’s dilemma b. collusion c. cartel

23. What is a group of firms acting in unison is called?

a. Prisoner’s dilemma b. collusion c. cartel

24. What is a particular “game” between two captured prisoners that illustrates why cooperation is

difficult to maintain even when it is mutually beneficial?

a. Prisoner’s dilemma b. collusion c. cartel

25. The national economy of the Philippines is the __________.

a. entire Filipino Nation b. Philippine economy c. Macroeconomics

26. What can only be as good as the Filipino people?

a. entire Filipino Nation b. Philippine economy c. Macroeconomics

27. What reflects how good the Filipinos are in allocating resources and in meeting their economic
wants?

a. entire Filipino Nation b. Philippine economy c. State of Philippine economy

28. What are the key macroeconomic ideas?

a. production, employment and consumption

b. employment and consumption

c. production, employment, consumption and Income

29. What are the sectors of macroeconomics sectors?

a. Consumer, business and foreign sector

b. Business and Public sector

c. Consumer, business, public and foreign sector

30. What is also known as the household sector?

a. consumer sector b. Business sector c. Public Sector

31. What are these organizations are invariably called firms, companies or enterprise?

a. consumer sector b. Business sector c. Public Sector

32. What is another major sector of the economy and it is the biggest single economic entity in the
country?

a. consumer sector b. Business sector c. Public Sector

33. The rest of the world is the ______ component of the national economy.

a. consumer sector b. Business sector c. foreign Sector

34. GDP stands for?

a. graded decreased profits

b. gross domestics product

c. gauge democratic participants

35. What represents the collective long term vision and aspirations of the Filipino people for
themselves and for the country in the next 25 years?

a. The Ambisyion Natin 2040

b. Filipinios are strongly rooted ( Matatag)

c. Filipinos are comfortable ( Maginhawa)

d. Filipinos are secure ( Pantag)

36. What Filipino families live together; there is work- life balance so that there is time to spend with
family even for members who work?

a. The Ambisyion Natin 2040

b. Filipinios are strongly rooted ( Matatag)

c. Filipinos are comfortable ( Maginhawa)

d. Filipinos are secure ( Pantag)

37. What no one is poor, no one is ever hungry. Filipino families live in comfortable homes with the
desired amenities and secure tenure?

a. The Ambisyion Natin 2040

b. Filipinios are strongly rooted ( Matatag)

c. Filipinos are comfortable ( Maginhawa)

d. Filipinos are secure ( Pantag)

38. What Filipinos feel secure over their entire lifetime. They expect to live long and enjoy comfortable
life upon retirement?

a. The Ambisyion Natin 2040

b. Filipinios are strongly rooted ( Matatag)

c. Filipinos are comfortable ( Maginhawa)

d. Filipinos are secure ( Pantag)

39. What is the medium- term development plan of President Rodrigo R. Duterte’s administration?

a. The Ambisyion Natin 2040

b. The Philippine Development Plan 2017-2022

c. Filipinos are comfortable ( Maginhawa)

d. Filipinos are secure ( Pantag)

40. What NEDA stands for?

a. National economic and development Authority

b. National economy and Department Authority

c. National economic and Departure Authority

41- 50. What are the eight goals of United Nations Millennium Development?

 Eradicate extreme poverty and hunger

 Achieve universal primary education
 promote gender equality and empower women
 reduce child mortality
 improve maternal health
 combat HIV/ AIDS , malaria, and other diseases
 ensure environmental sustainability and
 develop a global partnership for development