Activity 1

Direction: Please consider the following notes and instructions/questions and write your answer using Century Gothic font size 12 and preferably supported with photos or any visual mats.
Submission date will be October 06, 2021.

1. HIGHLIGHT the best version of yourself highlighting your family history/tree/group record and statistics (5 level lineage which includes you, your parents, grand parents (GP), great GP,
great great GP of both sides-mother & father) and how your family culture (includes hobbies, skills,specialization, livelihood, among others) established/developed and how it affects you now
and in the future? How this effort of tracing your roots/ancestors help you fulfil your career choice and goals in life. (have a short recorded video clip to answer this) 200 points

2. Prepare a timeline derived from the Holy Scriptures (as words of God). Please use the following matrix. Initially start with the ancient times to the classical period. Please consider various
references and always recognize your source/s. 300 points

When? What? Why? (reasons Who? How? (strategies/ For whom? Target How long? Duration of Remarks (items not covered in the 7 columns
that clarifies efforts/ ideas
(time) (specific econ for the ( proponents/ Processes beneficiaries development & implementation

thoughts development/ contributors/ considered

contributory
developed) factors
scientists/
Authors)

3. Please trace the major components that leads to the word economics and its meaning. How that information help you appreciate economics as a profession? (20)

4. What made Adam Smith the father of economics and describe his major contribution stipulated in the Wealth of Nations? Enumerate the economic principles discussed in that great book.

Smith argued that by giving everyone freedom to produce and exchange goods as they pleased (free trade) and opening the markets up to domestic and foreign competition, people's natural
self-interest would promote greater prosperity than with stringent government regulations.

Smith defined economics as “an inquiry into the nature and causes of the wealth of nations.” and The central thesis of Smith's "The Wealth of Nations" is that our individual need to fulfill self-
interest results in societal benefit, in what is known as his "invisible hand".

This, combined with the division of labor in an economy, results in a web of mutual interdepencies that promotes stability and prosperity through the market mechanism.
Smith rejects government interference in market activities, and instead states governments should serve just 3 functions: protect national borders; enforce civil law; and engage in public
works (e.g. education).