SENIOR HIGH SCHOOL

University of Bohol
Tagbilaran City

Name: Kimberly Rose B. Sabsal

Grade and Section: 11-GAS HW 1
Subject and Schedule: Applied economics/10:45-11:45
Lesson and Activity Number: 1/ activity 4

ACTIVITY NO.4: We cannot deny the fact that economics plays a significant role in the
preservation of a harmonious society. Write an essay on the relevance of economics in one’s
daily life. It should be composed of at least 300 words.

Economics plays an important role in our lives, resources are scarce and human
wants is unlimited. Since we are unable to have everything we desire, we must make choices on
how we will use our resources. every money we received or we gain for working hard we have to
decide on how to spend it, We should be wise in spending it. All of us are facing scarcity, we
have wants and needs but how can we able to afford it all if we don't have enough money. that's
why we should be careful in using our money. Nowadays people always wanted buying wants
than needs, little they know that needs is more important than wants. Especially mostly young
people are more on wants because they want the things that they desired and can satisfy their-
selves. I admit that I have an unlimited wants but limited resources, I cannot have everything I
want and I must be wise in buying most affordable things. We can be disciplined because in our
lives we can’t have everything we want because we have to choose what is more important like
buying some stuff that you actually you want or buying some things that is needed in our lives.
When growing up mostly of us experience like this and sometimes making a decision is tough. It
may not be easy but we can learn a lesson. Like me as a student once the learning becomes
personal, I will learn instinctively and naturally, which promotes critical thinking skills and
deeper learning. Economics help us to make a rational choice. in our daily lives we need to let go
some things that we want in order to do something else, we need to choose things that are useful
and worth-it. That’s why our decision is important.