Social GA 2.1 (Business Organizations, Economic Tools and Analyses, and Law of Demand)

Question 1

may vary in terms of operation, available capital years in operation, production process, and ownership.

Answer 1

firms

Question 2

what are the main types of business?

Answer 2

Sole proprietorship
Partnership
Corporation

Question 3

a business organization with only one owner

Answer 3

sole proprietorship

Question 4

is it hard to set up a sole proprietorship business?

Answer 4

no

Question 5

what is an example of a sole proprietorship business?

Answer 5

sari-sari store, fruit stalls, meatshop, and other small scale business

Question 6

It is the civil code of the Philippines article 1769

Answer 6

partnership <3

Question 7

partners who prefer to have limited liability can opt to register the business as a…

Answer 7

limited partnership

Question 8

defined in the Corporation Code of the Philippines as “an artificial being created by operation by law, having the right of succession and the powers, and the attributes and expressly authorized by law or incident to its existence”

Answer 8

Corporation

Question 9

management and corporate administration and is guided by the company’s articles of incorporation and bylaws

Answer 9

AOI

Question 10

Represent all the other Corporations that do not issue stocks

Answer 10

Nonstock Corporations

Question 11

Authorized issues to share to individuals called shareholders

Answer 11

stock corporations

Question 12

In terms of the availability of its stocks

Answer 12

Either public or private

Question 13

a group of corporations with diverse business activities in various industries, whereby the operations of such businesses are controlled and managed by a parent corporate entity.

Answer 13

conglomerate

Question 14

jointly owned and managed by its members

Answer 14

cooperatives

Question 15

what does CDA stand for

Answer 15

Cooperative Development Authority

Question 16

This act was enacted to encourage the formation and participation in cooperatives

Answer 16

Cooperative Code of the Philippines or Republic Act of 6938

Question 17

this act was enacted to reflect amendments to the initial guidelines

Answer 17

The Philippine Cooperative Code of 2008 or Republic 9520

Question 18

represent an idea or theory which reflects real-world situations and is founded on sound economic analyses

Answer 18

Economic Models

Question 19

an underlying premise is taken into consideration for the claims of the model to be valid.

Answer 19

assumption

Question 20

is the satisfaction or value derived from the consumption of a good

Answer 20

utility

Question 20

utility maximization is when assumptions are….

Answer 20

rational
have access to full information
remain consistent in their choice
utility-maximizing individuals

Question 21

is the extra satisfaction that an individual derives from the consumption of an additional unit of goof within a given period, keeping other things constant.

Answer 21

marginal utility

Question 22

is the measurement of satisfaction

Answer 22

utilis

Question 23

for every additional consumption your marginal utility or your level of satisfaction will decline

Answer 23

law of diminishing marginal utility

Question 24

this graph is best when you want to highlight the trend.

Answer 24

line graph

Question 25

this chart provides a good visual aid when you want to highlight the ratio of a variable relative to other variables or to the whole.

Answer 25

pie chart

Question 26

these charts are ideal when you want to show comparisons between variables for various periods.

Answer 26

bar charts

Question 27

this chart is handy when you compare the proportion of two or more variables for several periods.

Answer 27

horizontal bar chart