JUNE 16

what is love?
Making a choice is not that easy except when we
do it by gut-feel (kutob). Problems normally come
up if we don't consider making INFORMED
DECISIONS. Economics is a science and
therefore its method is scientific (step-by-step).
As I said yesterday (did I?), for every decision we
make, it will always entail some cost (therefore
there is no such thing as free lunch - wala'y libre).
by logistic regression Love is L = x1b1 + x2b2 +
x3b3...ganito ba?
if it is worth it, yung iyakan dahil nasasaktan then
so be it
kaya mahirap ma reduce sa isang multivariant na
equation

For every choice, there is a sacrifice or a trade-
off. There is an opportunity cost involved. So in
the art and science of economizing, the efficient
allocation of resources require knowledge and
skill. Say, if you are the head of a health program
trying to address the issue of Covid 19-infected
patients, how will you go about it. Choices or
decisions have to be made in terms of....what
projects or activities will you implement?; how
much of your financial resource will be spent on
which project or activity?; how many personnel
will you be needing?; what will be the composition
of this health personnel (how many
doctors/nurses/para-health staff); and many
more. Such decisions have to be carefully
weighed, right?
In the process of making a choice, our values
system come into play. For every alternative
option, we do attach some relative value. Option
1, option 2, option 3..…
But accept it, you love another person (kaya
tawag mo "dear" or "mahal") because that person
has utility or want-satisfying power or that person
is useful for you. In short, may gamit sya sa iyo.
Ikaw din may gamit sa kanya (if the feeling is
mutual). Kaya sa totoo lang, naggagamitan
kayo..hehehehe joke lang but most of the time it's
true.
economists assign a cardinal number to
hypothetically measure an amount of satisfaction
derive from using or consuming a thing. It's called
UTIL, right? so what's the word opposite to util,
that is, when a thing is no longer useful?
if somebody is no longer useful (kaya useless na
sya), what do you call him/her?
- INUTIL
Take note! Economic value is based on two
things: (1) utility and (2) relative scarcity

But where is value based?

How does a thing assume value?

There are things that are valuable to us, why?

Even our friends, family, special someone have
value.

Para din yang boyfriend//girlfriend nyo...why is he

or she dear to you? That is why you call the other
"mahal".

because they matter in our lives sir

they matter....why?
We value them because they place an important
role in our lives and because they are special to
us
Because she/he can benefit me. (Assuming lang
po). I'm gaining notifications from that person.
someone or somebody is special because of
what?

If your answer is "wala lang", hmmm thats

dangerous
we have to be clear about why we value things or
people...maraming nadadale sa akala
...akala ko kasi puputi ako sa cream na ito, yun
pala…