1. In an environment where business conduct are in the hands of government for the provision of it's citizen's primary needs while the private sectors can operate business other than what government cannot provide is a system that describes a) Socialism b) Fascism c) Communism d) Capitalism 2. Amelia price her property at P50,000.00 but Frita assumed about 10% more. That transaction is consummated with Frita smiling with her surplus value that accounts to paying 60% only of her assumed cost. Who among the 2 have greater surplus? a) Amelia b) Just equal surplus value for both c) Frita d) Surplus are unaccounted 4. Direct cost is another cost which is? a. Hidden b. On hand c. Traceable d. Invisible 5. The best choice from among alternative choices give way to a Opportunity Cost b Lack of alternatives c. Limited wants d Abundance of resources 6. What is the future value of Php10,000 after 5 years at 5% p.a. compounded? a Php10,500.00 b. Php12.762.80 c. Php11,025.00 d Php7,835.26 7. Among the items mention, which one does not belong? a. trade b. Taxes c. Subsidies d. Price floor 8. What appears to be relevant in an extent decision are cost that will direct decisions makers to hold on selling as market condition analysis makes Marginal Cost is lesser than Marginal revenue Marginal Cost isjust equal Marginal Revenue Marginal Cost is greater than Marginal revenue Marginal Cost is constant compared to Marginal Revenue 0.51 cm 9. What is the limitation of performance compensation in the way employees look at it? a. Performing same task with different pay package promotes dissent. b. It promotes a ceiling of productivity even iftime allows more production capacity. c. Compensation limits can discourage employees from being productive before the limit d. Both b and c 10. In layman's understanding, when do businessmen should stop production? a. TR> TC b. TC = TR c. TC = TR d. TO>TR