Podcast
Questions and Answers
Which of the following is NOT typically considered a financial market institution?
Which of the following is NOT typically considered a financial market institution?
What is the primary source of factors in production within an economy?
What is the primary source of factors in production within an economy?
Which of the following is NOT typically considered a factor of production?
Which of the following is NOT typically considered a factor of production?
Which model of the national economy is considered the most basic and simplest?
Which model of the national economy is considered the most basic and simplest?
Signup and view all the answers
What type of economy is described by the First Model of the national economy?
What type of economy is described by the First Model of the national economy?
Signup and view all the answers
Which model of the national economy showcases the two main sectors: households and businesses?
Which model of the national economy showcases the two main sectors: households and businesses?
Signup and view all the answers
What is the BEST course of action to boost economic growth?
What is the BEST course of action to boost economic growth?
Signup and view all the answers
If you were stranded on a deserted island with no immediate chance of escape, which of the following would NOT be a necessary survival action?
If you were stranded on a deserted island with no immediate chance of escape, which of the following would NOT be a necessary survival action?
Signup and view all the answers
Which of the following items is NOT considered an imported good (to the Philippines)?
Which of the following items is NOT considered an imported good (to the Philippines)?
Signup and view all the answers
Which model of the national economy is NOT considered part of a closed economy?
Which model of the national economy is NOT considered part of a closed economy?
Signup and view all the answers
Flashcards
Financial Market examples
Financial Market examples
Includes banks, pawnshops, and cooperatives.
Factors of Production source
Factors of Production source
Households are the main source of production factors.
Not a factor of production
Not a factor of production
Expenses are not considered factors of production.
Simplest economic model
Simplest economic model
Signup and view all the flashcards
First Model Economy Type
First Model Economy Type
Signup and view all the flashcards
Two sectors in economy model
Two sectors in economy model
Signup and view all the flashcards
Growing the economy
Growing the economy
Signup and view all the flashcards
Not a survival task on an island
Not a survival task on an island
Signup and view all the flashcards
Examples of imported goods
Examples of imported goods
Signup and view all the flashcards
Treasury role of government
Treasury role of government
Signup and view all the flashcards
Study Notes
Financial Market Examples
- Bangko
- Pawnshop
- Cooperatiba
- Laundry Shop (Note that "Laundry Shop" was an option, but not a proper Financial Market)
Sources of Production Factors
- Households/Households
- Businesses/Firms
- Government/State
Production Factors
- Land
- Labor
- Capital
Simplest Economic Model
- Simple Economic Model
- First Economic Model
Economic Model Characteristics
- Two Main Sectors
- Households
- Businesses
Economic Growth Strategies
- Increase production
- Increase consumption
Basic Survival Skills
- Create clothing
- Create shelter
Imported Goods Examples
- Australian Corned Beef
- Mega Sardines -Taiwan Tea
- Toblerone
Closed Economy Characteristics
- Internal transactions only
- No external trade
Government Revenue Sources
- Taxes
International Trade
- Export (Selling to other countries)
- Import (Buying from other countries)
Business Opportunities for Expat Couples
- Resort
- Shopping Mall
- Parks
- Other businesses that cater to tourists
Filipino Handicraft
- Clothing made from pineapples
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Explore essential economic concepts such as financial markets, production factors, and economic models. This quiz covers various aspects like government revenue sources, economic growth strategies, and the characteristics of closed economies. Test your understanding of both local and international trade.
