��Activity 2. Principles Application and Decision Making.

Name: __ARIAN KEITH AQUINO_____________________ Score: __________

Date Accomplished: _______________________

Instruction: Answer the following questions.

Test 1. Answer What Is Being ask.

1. How do technology affect changes in supply? Cite examples.

Technological advancements that improve the efficiency of production will cause a
supply curve to shift to the right. Consumers will demand more of the goods at lower costs as
the cost of production falls. The influence of technology on a supply curve can be seen in
computers, televisions, and photographic equipment.

2. If we have oil in the Philippines, what do you think would it be it effect on the price and quantity
of fuel?
If the Philippines has oil supplies, the price of oil is expected to fall, lowering inflation
and boosting economic growth. Oil prices have a direct impact on the prices of goods created
with petroleum products in terms of inflation. Oil prices, as previously said, have an indirect
impact on costs such as transportation, production, and heating.

3. What is wrong with the name “SURPLUS SHOP”?

A surplus shop is a store that offers discarded or previously acquired but unused things
that are no longer needed. Excessive military, government, or industrial items are frequently
found. According to customer feedback and reviews, surplus is considered a low-quality item.
However, the products are inexpensive and accessible.

4. When do you experience shortage as a student?

When my sister is a graduating college student, I experience financial difficulties. All of
the money is handed to her because of their projects and requirement to graduate. So, we her
younger brothers are having a financial shortage that time, but we can manage it.

5. What happens if the seller decides to sell a product in a higher price than the market price? 
If a seller decides to sell a product for a higher price than the market price, the product
will not be sold. The seller will experience a consumer or costumer shortage. People aren't just
looking for high-grade products; they're also looking for products that are both affordable and
of high quality. As a result, if the price is greater than the market price, the customer is more
likely to look around for the item they want.
Test 2. Apply Engineering Economic Decision to a certain project. The project was to put up Mobile
Classroom to reach out students who have no internet connection. Expound your answer.

The project is to put up Mobile Classroom to reach out students who have no internet connect. The first
step to find or recognize a decision problem. Many students are experiencing difficulties in having a
good connection so the need of the student is to have a good and stable internet connection. The goals
of their project are to provide wifi or any gadgets that can help to provide internet and mobile
classroom and put security. Next to have partnership or gather financial data to provide the needs of the
project. Next is choose the best supplies or mobile app that accessible. And last is to decide the best
alternative devices or supply to provide the needs of the project.