20 LITTLE THINGS

ALL ECONOMICS
STUDENTS HAVE
TO DO

Basic Concepts of
Economics
1. Live Life to the fullest!
 •Concept: Scarcity

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 We should accept the fact that we cannot
have anything we want so we should just
consider our life as a blessing itself and make
the most out of it. This would also mean that
we need to minimize our wants and stop being
greedy.

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 Be contented and just enjoy.

Life is not about what we have,

it’s how we value things in our life.
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2. Save! Save! Save!
 Concept: Limited Resources
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 Remember, we have limited resources;
therefore we should minimize our
consumption and expenses. Consume only
what you can and what you need. Like saving
our money, electricity, water, food, etc.

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3. Consume Less. Have
A Simple Living
 Concept: Unlimited Needs
(2 Facts of Economics)
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 Live simply and be satisfied with
what you already have. We may
not eliminate our needs but we
can lessen them.

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4. Reading is Necessary
Concept:
Entrepreneur

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 Put down
your ipod

Turn off the tv

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Reading articles, newspapers, magazines and books
will help increase your knowledge. It is a good way
to keep updated with the current issues.

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Make reading a habit.
Who knows, maybe
you’ll stumble upon
something that could
help the country.

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5. You should be patient
 Concept:
Entrepreneur
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You should fall in line and wait for your turn.
This way, the process will be more organized
and lessen the crowd. A well organized
activity will provide a faster result.

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6. Study Well
Concept: Microeconomics

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Studying well will
result to low drop-
out rates. This will
allow the parents
to save money.

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7. Ask for A Receipt whenever you purchase
 Concept: Macroeconomics

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Receipts, which are counted in the National Income Accounting
will also help in the increase of the GDP of the country
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8. Be environment-friendly
Concept: Land (Factors of Production)

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One of the major sources of production is Land
which covers all our natural resources. We
should preserve and protect it. It is simply by
throwing and disposing our garbage properly
that we can already minimize the threat of
global warming.

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9. Maintain a healthy lifestyle
Concept: labor (Factors of Production)

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We must sustain our mind
and body in order to
perform well on our
profession.

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10. Switch off & unplug
appliances when not in use
Concept: capital (Factors of Production)

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Appliances  uses about 40% of its energy in standby mode. So it is
important to switch them off and unplug them when not in use so
that the capital goods (machineries & equipments) will not be put
to waste.

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11. Save Money
Concept: Entrepreneur
(Factors of Production)
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 Do not spend so much on unnecessary
things. Try to save money for your
future. Maybe someday, You’ll be able
to start your own business.

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12. Be Involved in Volunteer works
Concept: Service Utility
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Giving contribution to the poor can help bring
up the less fortunate people in our country.

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13. Buy on local stores
Concept: Place Utility

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Theses local stores should be recognized and
we should patronize them by buying on
these stores. This will help in the GDP of the
country.

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14. Buy locally grown and produced
foods
Concept: Form Utility

Locally processed foods are potential help in

our economy.

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15. Do not be late
Concept: Time Utility
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Being late in class is a waste
of time, effort and also
money. We, students should
keep up with time in order
not to be late and miss the
lesson.

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Through this, we can discipline
ourselves and become more
responsible. The more we have
responsible workers, the more
we are capable of being
productive as a country

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16. Don’t buy
pirated items
(CD/DVD’s or
softwares)
 Concept: Possession Utility

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Pirated CD/DVD’s are
not legal and it is not
certain that the copies
are clear. If we buy
original products, we
can contribute to our
country’s productivity.

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17. Be innovative
Concept: Final/ Semi-Final/Free Goods
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Be creative and make projects
using recycled materials.
Final goods like paper and
cardboards may be used in
making projects, but it’s even
more unique when you use
indigenous materials (free
goods) like dried leaves and
the like.

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18. Use the Pedestrian Lane
 Concept: Public Goods

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Pedestrian Lanes are provided for the public so
that it will encourage safety. If everybody
crosses on the pedestrian, we may avoid
accidents.

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19. Re-use, Reduce and
Recycle
 Concept: Final-Capital
Goods

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 Recycle plastic bottles and
other reusable items use
them as containers. You
might even sell something
with it. Not only we can gain
extra money but it can also
help lessen pollution on our
natural environment.

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20. Learn to
Appreciate Things
Concept: Free Goods

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We should appreciate simple things like the
weather, the sands on the beach, the plants,
and the like because not all these things can
be experienced by the people from other
places.

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