I. MATCHING TYPE: Match the description/definition found in Colum A with the terms in Colum B. Use CAPITAL LETTERS only.

COLUM A

1. It calculates the GNI using a common set of international prices for all goods and service.

2. It refers to what people do or can do with the commodities of given characteristics that they come to possess or control.

3. An economic system where the main economic activity is agriculture.

4. The total amount of physical goods existing at a particular time that have been produced for use in the production of other goods and services.

5. The acknowledged right to use and benefit from a particular entity.

6. It is the number of children born alive each year for every one thousand population.

7. A condition characterized by small number of buyers and sellers, there are barriers to entry and incomplete information.

8. A vital requirement for economic growth and human development which includes health, education and skills,

9. The sustained increase in the level of production and income of a nation.

10. The total final output of goods and service produced within the country's territory by residents and nonresidents, regardless of its allocation between domestic and foreign claims

11. The exchange of good among countries.

12. The average income earned by the citizens of a country.

13. The situation of being unable to meet the minimum levels income, food, shelter, and health.

14. the tendency of income per capita to increase faster in developed countries than in developing countries.

15. The measure of a country's socioeconomic development, based on combining measures of education, health, and real income.

COLUMN B

A. absolute poverty

B. functioning

C. traditional economy

D. human capital

E. purchasing power parity

F. gross domestic product

G. human development index

H. capital stock

I. crude birth rate

J. imperfect markets

K. property rights

L. economic growth

M. international trade

N. per capita income

O. divergence

P. free trade

Q. convergence

R. gross national product