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    Ap Econ Summative

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    JOHN MAYKALE FARRALES
    This document provides a summative test for an Applied Economics class. It contains multiple choice and short answer questions that test understanding of business concepts like business ownership structures, objectives, scale, and external factors. Students are instructed to read thoroughly, but are allowed erasures. They are told not to cheat and to review their answers before submitting on time.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Ap Econ Summative

    Uploaded by

    JOHN MAYKALE FARRALES
    13 views2 pages
    This document provides a summative test for an Applied Economics class. It contains multiple choice and short answer questions that test understanding of business concepts like business ownership structures, objectives, scale, and external factors. Students are instructed to read thoroughly, but are allowed erasures. They are told not to cheat and to review their answers before submitting on time.

    Original Title

    AP ECON SUMMATIVE

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    This document provides a summative test for an Applied Economics class. It contains multiple choice and short answer questions that test understanding of business concepts like business ownership structures, objectives, scale, and external factors. Students are instructed to read thoroughly, but are allowed erasures. They are told not to cheat and to review their answers before submitting on time.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    13 views2 pages

    Ap Econ Summative

    Uploaded by

    JOHN MAYKALE FARRALES
    This document provides a summative test for an Applied Economics class. It contains multiple choice and short answer questions that test understanding of business concepts like business ownership structures, objectives, scale, and external factors. Students are instructed to read thoroughly, but are allowed erasures. They are told not to cheat and to review their answers before submitting on time.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    SUMMATIVE TEST 1

    2nd Quarter
    APPLIED ECONOMICS 12

    Name: ________________________________ Score: __________


    General Directions:
    1. Read each items comprehensively. Kailangan maintindihan mo ang binabasa mo dahil hindi ito
    nakukuha sa tingin
    2. Erasures are okay. Dahil we deserve a second chance. Okay lang na magkamali ng tatlo
    hanggang lima pero ang anim hanggang sampo, bes hindi ito ang boyfriend / girlfriend na masyado
    kang nagpapakatanga. Exam to oy.
    3. Don’t CHEAT! Wag kang tumulad sa ex mong nakakita lang ng iba, mabilis pa sa kidlat na
    ipinagpalit ka.
    4. Take your time. Kalma lang bes. Matatapos ka rin. Wag kang tumulad sa bff mong nauna ng
    grumadweyt at nakaapag asawa ng maaga dahil sa pagmamadali.
    5. Review your answer. Hindi ito laro. Wag mong hulaan ang sagot baka masaktan ka lang.
    6. Submit on time. Ang lahat ay may hangganan. Dapat alam mo kung kalian ka susuko. Walang
    poreber!

    Multiple Choice: Read and understand thoroughly the questions and choose the
    letter of the best answer.
    _______1. The term used to address the owners of a corporation.
    a. Partners b. owners c. shareholders
    _______2. One of the external factors that affects the operation of a business
    a. Market trends such as new products or technology or evolving buyer’s
    profiles, including changes in tastes and lifestyle behavior.
    b. Current processes, such as employee programs, department hierarchies,
    and software systems, sales and distribution capabilities, and marketing
    Programs
    c. Human resources consisting of employees
    _______3. The main objective in putting up a business is to ______________.
    a. Earn profit b. earn customers c. earn friends
    _______4. A _____________ is just a small portion of an industry.
    a. Business b. location c. capital
    _______5. One of the principles in which that the entrep’s vision is more important
    to the life of the business than anything else.
    a. Big ideas b. vision c. purpose
    _______6. It is the simplest way to set up a business.
    a. Partnership b. sole proprietorship c. corporation
    _______7. It is a legal entity that is separate from its owners.
    a. Partnership b. corporations c. sole proprietorship
    _______8. It must manifest the higher purpose upon which it is needed, the
    mission it was intended to fulfill and the vision it was meant to exemplify.
    a. Vision b. system c. scalability
    _______9. One of the tools in evaluating a business EXCEPT:
    a. Geographic area b. capital c. competition
    _______10. All owners share the management of the business and each is
    personally responsible and must assume the consequences of the actions of the
    other partners.
    a. Partnership b. limited partnership c. general partnership
    1
    II. Compare and Contrast
    Directions: Compare and contrast the following

    1 – 3. Micro, Small, Medium and large scale business

    4 – 6. General Partnership and Limited Partnership

    7 – 10. Distinguish between business and industry

    III. Reflection:
    Explain the Statement in 5 sentences only. (5points)

    Most of the time, business’ strengths and weaknesses will not match the
    listed opportunities and threats, and this is where the owner should attempt to
    somehow make them meet.

    Prepared by:

    John Maykale B. Farrales


    Subject Teacher

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