Assemulator

Price controls

are always popular with consumers because they lower prices.

create shortages.

increase producer surplus because firms can now sell a greater quantity of a good at a lower

are necessary to preserve equity.

The following are legitimate children, EXCEPT _______.

Those born by artificial insemination.

Those legitimated.

Those born during a valid marriage of parents.

Those born out of a valid marriage of the parents.

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

What is a firm?

A president, some vice presidents, and some employees

Any organization that wants to make a profit.

Any accumulation of productive assets.

Any organization that turns inputs into outputs

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.

All Filipino citizens have the right to vote and to be voted upon as a government official. What is this constitutional right called?

Passive right to vote

Political franchise

Suffrage

Electoral right

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.

It refers to the agency through which the will of the state is formulated, expressed and carried out.

Government

Sovereignty

Constitution

Laws

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.

The difference between gross profit and cost of goods sold is known as _______.

markdown

discount

net profit

invoice price

Drills

Social Studies