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Applied Economics 1st Quarter Reviewer > Semi-finals Exam Applied Eco > Flashcards

Semi-finals Exam Applied Eco Flashcards

1
Q
  1. Is any business that uses components, parts, or raw materials to make a finished good.
A

Manufacturing Business

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2
Q
  1. These finished goods can be sold directly to consumers or other manufacturing businesses for making a different product.
A

Manufacturing Business

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3
Q
  1. Refer to the cost advantage experienced by a firm when it increases its level of output.
A

Economies Scale

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4
Q
  1. Economies scale can be implemented by a firm at any stage of the production process
A

Economies Scale

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5
Q
  1. is called the engine of economy.
A

Manufacturing

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6
Q
  1. Manufacturing businesses in today’s world are normally comprised of machines, robots, computers, and humans that all work in a specific manner to crete a product.
A

Manufacturing Business

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7
Q
  1. The advantage arises due to the inverse relationship between the per unit fixed cost and quantity produce.
A

Economies Scale

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8
Q
  1. The Philippine manufacturing industry remains to be the most important sector for long term productive employment.
A

Manufacturing Industry in the Philippines

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9
Q
  1. Is a company that provides professional support to its clients.
A

Service Business

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10
Q
  1. This kind of business offers task related to consulting, accounting, transportation, cleaning, and hospitality.
A

Service Business

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11
Q
  1. Support the daily operation and activity of any business.
A

Business Services

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12
Q
  1. Are engages in commercial activities which is intended for individual needs. The service is “uniquely offered and intended for each customer.
    “
A

Personal Services

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13
Q
  1. They are provided by the government or non profit organizations. “The service is not a profit motive but for a social cause.”
A

Social Services

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14
Q
  1. From a business standpoint, service businesses are those that provide an activity or work with a commercial purpose.
A

Service Business

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15
Q
  1. Is the exchange of information or business transactions using any form of electronic communication.
A

E-Commerce

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16
Q
  1. Is facilited through the use of electronic devices such as computers, tablets, and smartphones.
A

E-Commerce

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17
Q
  1. Personal E- commerce can easily be achieved by filipinos through any of the numerous buys and sell sites currently available.
A

E-Commerce in the Philippines

18
Q
  1. With the global pandemic, there is an increase in the demand for e-commerce in the philippines.
A

E-Commerce in the Philippines

19
Q
  1. E- commerce can operate 24 hours a day, seven days a week.
A

Advantages of E-Commerce

20
Q
  1. With e-commerce business may establish a wider market presence by providing cheaper and more efficient distribution channels of the products and services.
A

E-Commerce

21
Q

IDENTIFICATION (GOODS OR SERVICES)

A
22
Q
  1. Foods
A

Goods

23
Q
  1. Clothing
A

Goods

24
Q
  1. Electronics
A

Goods

25
Q
  1. Furniture
A

Goods

26
Q
  1. Cars
A

Goods

27
Q
  1. Transportation
A

Services

28
Q
  1. Education
A

Services

29
Q
  1. Health Care
A

Services

30
Q
  1. Civil Service
A

Services

31
Q
  1. Entertainment
A

Services

32
Q

ENUMERATION

A
33
Q

Examples of Manufacturing Business

A
  1. San Miguel Corporation
  2. Monde Nissin Corporation
  3. Universal Robina Corporation
34
Q

Types of Services (Business Services)

A
  1. Business Services
  2. Personal Services
  3. Social Services
35
Q

Examples of Personal Services

A
  1. Skincare Treatment
  2. Hair Treatment
  3. Manicure & Pedicure Treatment
36
Q

Examples of Social Services

A
  1. Public Education
  2. Public Transportation
  3. Public Health Care
37
Q

Examples of Business Services

A
  1. Accounting & Bookkeeping Services
  2. Business Consulting Services
  3. Business Financing Services
38
Q

Examples of E-commerce

A
  1. Shoppe
  2. Lazada
  3. TikTok
39
Q

Advantages of E-commerce

A
  1. Convenience
  2. Increased Selection
40
Q

Disadvantages of E-commerce

A
  1. Limited Customer Service
  2. Lack of Instant Gratification

Applied Economics 1st Quarter Reviewer (2 decks)

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