Assemulator

It states that as the price of the commodities increase the amount of goods the consumer is willing to purchase decrease and as the price of the commodities decrease the willingness of the consumer to buy increases and another factor remain constant.

Law of Diminishing Marginal Utility

Law of Gravity

Law of Supply

Law of Demand

A system whereby the determination of exchange rate is left solely to the market forces.

Foreign exchange liberalization

Export liberalization

Terms of trade

Foreign investment

The highest mountain in the continent of Africa is _______.

Mt. Everest

Mt. Kilimanjaro

Mt. Fuji

Mt. Apo

The excess burden of tax is

The amount of which the price of a good increases

The loss of consumer and producer surplus that is not transferred elsewhere.

The amount by which a person's after-tax income decrease as a result of the new tax.

The welfare costs to firms forced to leave the market due to an inward shift of the demand

In general, microeconomic theory assumes that the firms attempt to maximize the difference between

total revenue and accounting costs.

price and marginal cost.

total revenues and economic costs.

economic costs and average cost.

All of the following constitute the meaning of political science except:

A basic knowledge and understanding of the state.

It is primarily concerned with the association of human beings into a political community.

Common knowledge every event taking place in the society.

It deals with the relationship among men and groups which are subject to the control by the state.

The Philippines lies in the region where many volcanoes are active. This region is known as _______.

Wheel of Fire

Ring of fire

Volcanic Rim

Archipelagic Fault Line

In a competitive market, efficient allocation of resources is characterized by

a price greater than the marginal cost of production.

the possibility of further mutually beneficial transactions.

the largest possible sum of consumer and producer surplus.

A value of consumer surplus equal to that of producer surplus.

What are the four elements of state?

people, territory, sovereignty, government

people, constitution, territory, government

government, law, peace, territory

constitution, people, land, independence

The problem of scarcity

Arises only in poor countries.

Exists because the price of goods is too high.

Exists because of limited resources.

Will eventually be solved by better planning.

Drills

Social Studies