TEST I.

Choose the correct answer in the box

Microeconomics Scarcity UnLimited demands
Macroeconomics Absolute Limited Resources
______1.Is concerned with the behavior of individual entities such as the
Consumer, Resources, Procedures and the owner
______2.This is refer to the limited availability of a resources compared to
How much it is being demanded.
______3. focuses on board issues such as overall performance of the entire
Economy
______4. Are an indication that the available resources are not great in
number of volume
______5. The other hand describes the uncontrollable ability and desires to
Buy more goods and services
TEST II. ENUMERATION
Direction: List Down or Enumerate what are being asked on each of the
following item.
[ 1-4 ] Enumerate the Elements Business Enterprise
1.
2.
3
4.
[ 5 12 ] Enumerate the Business Firm
5.
6.
7.
8.
9.
10.
11.
12.
[ 13 -15 ] Enumerate the three sector

TEST III: Essay ( 10pts )

What is Economics?