28. according to statistics, the Philippine natural resources have started to be depleted due to the increase in population. Which of the four common economic goals should be prioritized by the government? a. Balance foreign exchange b. Equitable distribution of income and wealth among individuals and regions C. Increase in per capital income d. Full employment and/or development of its resources 29. price of a commodity is the principle determinant of production in a. Combination of command economy and market c. Market economy economy d. Command economy b. Tradition economy 30 31. the demand curve of a firm in a pure competition market is 3. Downward sloping c. Horizontal b. Truncated d. Kinked 32. which type of goods affected by inflation? a. Inelastic goods c. Griffin goods b. Elastic goods d. All of the above 33. it is a factor affecting demand that makes consumer buy more than his consumption for future use a. Income effect C. Price expectation b. Changes in prices of related goods d. Change in population 34. increase in total supply can be brought about by a. Increase in taxes applied to manufacturing C- Automation of production process b. Expected increase in selling price of produced d. Increase in price of raw materials commodity 35. among the following determinants, which influences a firm to expands its investments? a. Higher interest rate c. Low supply of raw materials b. Lower rate of RIO d. Increase in rate of sales 36. a type of economy where tradition determines the current level of output for commodity or service produced a. Market economy c. Combination of command economy and market