Market Buyers and Sellers
🛒 Part 1: Multiple Choice Questions
Choose the best answer for each question. Circle the letter of your choice.
1. Which of the following is an example of an online marketplace?
A. Sari-sari store
B. Palengke
C. Shopee
D. School canteen
2. What is the first step in the product development process?
A. Collecting feedback
B. Brainstorming
C. Prototyping
D. Selling
3. Which of these is a NEED rather than a WANT?
A. Video games
B. Designer shoes
C. Clean drinking water
D. Chocolate
4. What is the main purpose of buying and selling?
A. To make friends
B. To exchange goods and services for money
C. To waste time
D. To show off
5. Which behaviour shows respectful interaction between buyer and seller?
A. Arguing loudly about prices
B. Being polite and saying "please" and "thank you"
C. Taking items without paying
D. Ignoring the seller
6. What type of market is a palengke?
A. Online market
B. Traditional wet market
C. Shopping mall
D. Convenience store
7. Which step comes after brainstorming in product development?
A. Collecting feedback
B. Marketing
C. Prototyping
D. Selling
8. What is commonly sold in a sari-sari store?
A. Cars
B. Houses
C. Everyday household items and snacks
D. Expensive jewellery
9. Which of these demonstrates honest behaviour in selling?
A. Giving correct change
B. Overcharging customers
C. Selling expired products
D. Lying about product quality
10. What is a market need?
A. Something people want but don't require
B. Something people require for survival or well-being
C. Something expensive
D. Something only rich people buy
🏪 Part 2: Identification
Identify what is being described in each statement. Write your answer on the line provided.
11. A small neighbourhood store that sells everyday items like rice, canned goods, and snacks.
Answer: _________________________
12. The process of creating ideas for new products or services.
Answer: _________________________
13. A traditional Filipino market where fresh produce, meat, and fish are sold.
Answer: _________________________
14. The step in product development where you create a sample or model of your product.
Answer: _________________________
15. Digital platforms where people can buy and sell products online.
Answer: _________________________
16. Things that people must have to survive, such as food, water, and shelter.
Answer: _________________________
17. Things that people would like to have but can live without.
Answer: _________________________
18. The person who purchases goods or services.
Answer: _________________________
19. The person who offers goods or services for sale.
Answer: _________________________
20. The step in product development where you ask customers what they think about your product.
Answer: _________________________
🔗 Part 3: Matching Type
Match the items in Column A with their corresponding descriptions in Column B. Write the letter of your answer on the line provided.
Column A
21. Lazada ____
22. Palengke ____
23. Sari-sari store ____
24. School canteen ____
25. Shopping mall ____
Column B
A. Traditional wet market selling fresh goods
B. Online shopping platform
C. Small neighbourhood convenience store
D. Large building with many different shops
E. Place where students buy food and drinks at school
📝 Part 4: Essay Questions
Answer the following questions in complete sentences. Use the space provided for your answers.
26. Explain the three steps of the product development process and why each step is important.
27. Describe how a buyer and seller should interact with each other to show respect and honesty. Give at least three examples.
28. Compare and contrast needs and wants. Give three examples of each from your own community.
29. Identify and explain three key products or services that are commonly needed in your school community. Why are these important?
30. Explain the purpose of buying and selling in our economy. How does this process benefit both buyers and sellers?
