Professional Documents
Culture Documents
Direction: Write TRUE if the statement is correct but if it is false, change the underlined word or phrases to
make it true. Write your answer in the space provided.
____________2. History helps us to have awareness of the different values in the society.
____________3. During historic period, the system of writing was not yet developed..
____________5. Historians are the people who study and write about history.
____________6. When system of writing was not yet invented, stories were passed down from generation to
generation through oral tradition or transmitted by mouth.
____________7. History gives us lesson to live our life better in the past.
Test II. Classify the following topics. Write MIC if it falls under Microeconomics; MAC , if it falls under
Macroeconomics.
_________16. The inflation in the Philippines in the last quarter of 2013 was 4.8%.
_________17. A Php 340 billion deficit in the Philippine budget is expected in the year 2015.
_________19. Unemployment rate has dropped because of the increase in the number of OFW’s.
_________20. Garlic prices in the past months have risen because producers hoarded their supplies in their
bodegas.
_________21. In the past year, Coca Cola was named the fastest selling product in the market.
_________22. Rental rate on Land could not be increased by landowner because of the Control Law.
_________23. Prices of apples and grapes tend to increase during the Christmas season.
_________25. Philippine Congress passed the Value Added Tax Law to strengthen the Philippine tax system.
Test III. Matching type. Match the items in column A with the items in column B. Write the letter of your
answer on the space provided.
Column A Column B
k.Ban Gu
l. Thucydides
Test IV . 36-45. From the following hypothetical data, plot the demand and the supply curves and
determine the equilibrium price and equilibrium quantity. Also, identify whether surplus or shortage is
derived.(10pts)
Price Quantity demanded Quantity supplied
5 100 40
8 90 50
10 80 60
13 70 70
15 60 80
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56-65.Explain why scarcity affects both the poorest and the richest persons in the Philippines.(10pts.)
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