CALIFORNIA ACADEMY FOR LILMINIUS

FIRST QUARTER EXAMINATION

ECONOMICS

Name : ____________________________________________________ Score : ___________________

Teacher: Miss Yeng Date :________________
I. Complete the pyramid below to show the hierarchy of needs according to Maslow and answer the
questions below:

The Hierarchy of Needs According to Maslow (10 pts)

6. What particular human needs considered as the most basic? _____________________________

7. The desire for self-fulfillment will fall under what needs? _____________________________

8. An overall sense of self-worth or personal value is what needs? __________________________

9. The needs which include love, acceptance and belonging. ______________________________

10. The need for security and protection falls under what needs? ________________________

II. Identification

1. It is a systematic field of study that focuses on the interaction of the different units of society.
__________________________

2. Three Fundamental Questions in Economics (3 pts)

_____________________________________

_____________________________________

_____________________________________

3. A branch of economics which deals with the behavior of individuals in the market.
_________________________
4. A branch of economics which deals with the economy as a whole. ____________________
5. It pertains to things that can be used to produce goods and services that address human wants.
_______________________

6. This resources is a broad term for labor, skill, and intelligence. _________________________
7. It refers to the fact that society has limited resources and therefore some goods and services cannot be
produced. ____________________________
8. Who proposed the following:
a. Free-market Economy _______________________________
b. Pure Command Economy _______________________________
c. Mixed Economy _______________________________
d. Hierarchy of Needs _______________________________
9. The actual purchase of goods and services by consumers in order to address their wants.
____________________________
10. It is a type of consumption when an individual satisfies himself upon buying and using a certain
product. ____________________________________
11. 7 Factors that affect consumption
______________________ _________________________
______________________ _________________________
______________________ _________________________
______________________
III. Complete the table.

1. a = ____________ 5. e = _____________ 9. i = ____________

2. b = ____________ 6. f = _____________ 10. j = ___________

3. c = ____________ 7. g = ____________ 11. k = ___________

4. d = ____________ 8. h = ____________ 12. l = ___________