Market Integration and Its Evolution
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Questions and Answers

What is the Latin origin of the word 'market'?

  • Mercantilus
  • Mercatus (correct)
  • Marculus
  • Marketus

    • What was the primary outcome of the Agricultural Revolution?

  • The shift from a manufacturing-based economy to a service-based economy
  • The establishment of permanent settlements and trade networks (correct)
  • The development of new economic tools
  • The rise of industry through mass production

    • What is the primary characteristic of Market Integration?

  • The creation of separate national economic regions
  • The restriction of goods and services across countries and regions
  • The emphasis on human labor in production
  • The combination of separate national economic regions into a larger economic region (correct)

    • Which revolution led to the development of new economic tools, such as steam engines and mass production?

    <p>The Industrial Revolution</p> Signup and view all the answers

    What is the primary outcome of the Information Revolution?

    <p>The shift from a manufacturing-based economy to a service-based economy</p> Signup and view all the answers

    What is the state of affairs referred to as 'integration'?

    <p>A state of affairs involving attempts to combine separate national economic regions</p> Signup and view all the answers

    What led to the proposed merger between Walt Disney and Pixar?

    <p>Horizontal integration in the same industry</p> Signup and view all the answers

    What was the result of Disney's acquisition of Pixar in 2006?

    <p>The combined expertise of both companies led to great works in the movie-making business</p> Signup and view all the answers

    What was the primary reason for Disney's acquisition of Pixar?

    <p>To improve Disney's market share in the animation industry</p> Signup and view all the answers

    What was the value of Disney's acquisition of Pixar in 2006?

    <p>$7.4 billion</p> Signup and view all the answers

    What was the result of PLDT's acquisition of Digitel in 2011?

    <p>PLDT expanded its share in the telecommunications industry</p> Signup and view all the answers

    What was the brand owned by Digitel, acquired by PLDT in 2011?

    <p>Sun Cellular</p> Signup and view all the answers

    What is the primary motivation for a company to pursue backward vertical integration?

    <p>To reduce costs, increase revenues, and improve efficiency in the production process</p> Signup and view all the answers

    What is the result of PLDT's merger with Sun Cellular?

    <p>A stronger competitive position in the telecommunications industry</p> Signup and view all the answers

    What is vertical integration?

    <p>A process of acquiring or merging with firms in the same industry</p> Signup and view all the answers

    What is the purpose of a company pursuing backward vertical integration?

    <p>To create barriers to entry for new industry entrants</p> Signup and view all the answers

    What is the result of a company pursuing horizontal integration?

    <p>A stronger competitive position in the industry</p> Signup and view all the answers

    What is an example of a horizontal integration strategy?

    <p>A company merging with a competitor in the same industry</p> Signup and view all the answers

    What is the primary characteristic of the Information Revolution in relation to jobs?

    <p>Shift towards service-oriented and idea-based work</p> Signup and view all the answers

    What is the result of business process outsourcing (BPO) companies in the Philippines?

    <p>A significant contribution to the economy through service-oriented work</p> Signup and view all the answers

    What is the effect of advancements in technology on the economy of the Philippines?

    <p>The growth of the digital economy</p> Signup and view all the answers

    What is the result of the Information Revolution on the economy of the Philippines?

    <p>A shift from a manufacturing-based to a service-oriented economy</p> Signup and view all the answers

    What is horizontal integration in the context of business?

    <p>A company combining forces with another company that offers similar products or services</p> Signup and view all the answers

    What is an example of horizontal integration?

    <p>Two companies in the same industry merging to form a new entity</p> Signup and view all the answers

    What is the primary reason why Apple Inc. employed a vertical integration strategy?

    <p>To reduce its dependence on third-party suppliers</p> Signup and view all the answers

    Which of the following is an example of forward vertical integration?

    <p>Netflix producing its own original films and shows</p> Signup and view all the answers

    What is the outcome of Petron's backward integration strategy?

    <p>Reduced dependence on third-party suppliers</p> Signup and view all the answers

    Which of the following companies has employed a backward vertical integration strategy?

    <p>All of the above</p> Signup and view all the answers

    What is the primary goal of a company that employs a backward vertical integration strategy?

    <p>To reduce its dependence on third-party suppliers</p> Signup and view all the answers

    Which of the following is a benefit of backward vertical integration?

    <p>Ability to advance new products and technology at a more rapid pace</p> Signup and view all the answers

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