DARAGA NATIONAL HIGH SCHOOL

Senior High School Department Daraga, Albay

2nd Semester, 2021-2022
MODULE 2 – QUARTER 3 (ECONOMICS AS AN APPLIED SCIENCE)
NAME : BAREDO PRINCESS JANE MONDILO 11 ABM 2-HOPE DATE: 03\13\2022

Pre- Test
A.Complete the table below by looking for the economic concept that best describes to the key
terms in the column 1 of the table and give some short insights why it is crucial in the flow of the
economy in column 3. Write the answer on your answer sheet.

A. Resources used to produce goods C. Natural resources

and services

B. Who used economic resources to D. Man-made resources, such as

creatnew goods and services machinery that are used to make
other goods and services

E. Human effort exerted in production

KEY TERMS Insights About Economic Resources

ECONOMIC
CONCEPT

(LETTER
ONLY)
In the economy, entrepreneurs are the only players.
1.Entrepreneur B. First, they generate jobs, train individuals in their
fields, make goods and services available to the
 public, and finally, they innovate goods and
services.
2. Land C. Land is the most basic component of the economy,
and its proper use is critical for the development
and progress of every country.
This is where all of the goods and services are
produced. Any type of economy is dependent on
land since it allows businesses to thrive and earn
more revenue.
3. Capital D. Every firm requires capital, which can take many
forms such as cash, machinery, real estate,
intellectual property, and so on.
The rule here is to think about how you would
optimize your capital to make a profit.
4. Factors of Production A. The backbone of the economy is, without a doubt,
the factors of production.
These are given priority above other economic
elements since they have an impact on the
economy's overall flow.
E. Labor is also vital to the economy's flow because
5. Labor its labor has an impact on one's business's
affectivity and efficiency.

Learning Activity 1. Picture analysis

Instruction: Analyse the pictures below and write your answer on your answer sheet.

1.LAND 2.ENTREPRENEUR 3.CAPITAL

4.LABOR 5.CAPITAL 6.CAPITAL

Guided Question: Please refer your answer base on the picture analysis and Write the answer on
your answer sheet.
1. What did you observe about in the picture?
These are critical resources for producing goods and services that meet the requirements and
desires of consumers. Agriculture, businessman, factory, service team, money, and truck are
among the images.

Learning Activity 2. Graphic Organizer

Gather information using various multi-media platforms, list down about the economic problem that
we are facing today. Give at least 10 economic problem.

1.scarcity

2.population 3. low economic growth

4.unemployment ECONOMIC PROBLEM 5.infrastructure

6.income inequality 7.teenage pregnancy

8.corruption
10.inflation 9.poverty

Process Question: Please refer your answer base on the above 10 economic problems.

1.How does the following basic economic problem affects your daily living?
As a working student , it is difficult for me to purchase my personal necessities at school, I come
from a poor home, thus my parents are unable to fund my needs. Rather than taking a tricycle to
school, I got up early to prepare and walked. Despite increases in the price of commodities, our
country's wage remains unchanged, and it's difficult for me to manage my allowance because my
expenses always surpass my salary. That’s why I always have to take food like “ nilagang itlog” to
save money.
Learning Activity 3 Let’s Solve
Based on your above listed economic problems, choose at least 5 and apply the possible solution
to solve the basic economic problems. Write the answer on your answer sheet.
ECONOMIC PROBLEMS POSSIBLE SOLUTIONS
1. SCARCITY Scarcity Increase output and purchase the necessary supplies.
2. POVERTY Reduce unemployment, establish income-generating activities,
and educate the public.
3. EMPLOYMENT Investors should be encouraged to invest (more investor more
job opportunity for the job seekers)
4. INCOME INEQUALITY People should be educated about family planning and family
planning.
5. POPULATION High-wage earners and rich individuals will be subjected to
progressive direct taxation policies.

Guide Questions:

1.What helped you to find the solutions?

I looked at all of the variables that might be involved in resolving the fundamental economic issue.
I sought advice from a specialist or expert by conducting an interview.
Based on my observations, I came up with a few potential solutions to the problem.

2.What did you consider in applying the possible solutions?

When applying the possible solutions I considered the following:
a.Feasibility
b.Attainability
c.For the common good
d.Duration/Time
e.Resource

Practice Task #1 Let’s Practice

Directions: Read each items and write the answer on your answer sheet., decide which of the four
factors of production it would be classified as:
LD- Land LR- Labor C- Capital E- Entrepreneurship
 C 1. School C 6. Paper C 11. Coffee shop
C 2. Money LD 7. Water E 12. Manager
C 3. Books C 8. Desk LD 13. Natural Gas
LR 4. Teacher C 9. Restaurant LD 14. Trees
LR 5. Principal C 10. Computer LD 15. oil

Practice Task #2 Go Down the road , Across the world

Cross Word Puzzle on some economic resources and problem.
Instruction: Complete the puzzles. Write the answer on your answer sheet.

1.UNEMPLOYMENT
2.POVERTY
3.INFLATION
4.SERVICE
5.SCARCITY
6.CAPITAL
7.LAND
8.LABOR
9.ENTREPRENEUR
10.PRODUCE

Practice Task # 3 Critical Thinking

The world nowadays is facing an economic crisis brought about by a pandemic referred to as
COVID19 and the outbreak still continue until the vaccine is develop: This pandemic severely
affected the economic situation globally since all forms of businesses stopped their operation, the
great demand of goods and services of the consumer when not properly resolve will result into
scarcity.
Now, some businesses start to operate and there are guidelines formulated before a business
resumes its work. How to avoid the scarcity of the resources in the middle of the pandemic is the
biggest challenge that the government needs to address. Now consider that you are a first timer
producer of goods and services.
Guided Question: After reading the economic issue, write the answer on your answer sheet.
1.What goods and services will be produced?
Products and services that may be in high demand include masks, alcohol face shields, and other
items used by medical personnel as well as by the general public. Logistics delivery and online
selling are examples of services.

2.How will goods and services be produced?

Because of the limitations of working hours and company workforces, goods and services will be
produced based on what products and services are most needed by consumers. For example,
alcohol should be produced in large quantities due to strong demand, but non-essential products
should be limited.

3.Who will consume the goods and services?

As of right now, the majority of consumers are in the medical sector or on the front lines, and we
are all consumers of these goods and services.

Post-test
A.Complete the table below by looking for the economic concept that best describes to the key
terms in the column 1 of the table and give some short insights why it is crucial in the flow of the
economy in column 3. Write the answer on your answer sheet.

Insights About Economic Resources

Key terms Economic Concept
(Letter only)
1.ENTREPRENEUR B. Entrepreneurs are the sole player in
the economy. First, they create jobs,
they trained people to the field of
their work, they make goods and
services available to people and
lastly they innovate goods
/service’s.
2.LAND C. Land serves as the basic ingredient
in the economy its use are very
 crucial for the development and
progress of ones’ country.
All the goods and services happen
here. Any form of economy relies on
land as it possesses the capability of
ones businesses to prosper and
generate more income
3.CAPITAL D. Every business needs capital though
it varies in forms like money,
machinery, property, intellect and
others.
The rule here is that how would you
maximize your capital in order for
you to gain profit.
4.FACTOR OF PRODUCTION A. Factors of production are indeed the
backbone of the economy.
These are mainly the focus prior to
other factors in the economy
because it affects the whole flow of
the economy
5.LABOR E. Labour is also crucial in the flow of
the economy because its work
affects the affectivity and the
efficiency of one’s business.

B.Complete the column 2 below in the table by looking for the economic concept that best
describes to the key terms in the column 1 and give some short insights on how these economic
problems affects in the flow of the economy in column 3. Write the answer on your answer sheet.

A. Unlimited wants and needs but C. Is the state of being extremely poor
limited resources. of a person.

B. A person who is actively searching D. General rise the general level of

for Job. price

E.an organism that both belong to

same group
and live
in the same geographical area
 Economic Insights About Basic Economic Problem
Key terms Concept
(Letter only)

Unemployment is determined by the

government's management of the country's
1.UNEMPLOYMENT economic affairs. The greater the number of
investors, the more jobs will be created. Another
B. factor is that the country's industrialization has
an impact on job availability.
Poverty has long been a concern in the
Philippines, which is classified as a third-world
2.POVERTY country. Malnutrition affects a large number of
Filipinos. Though there are government
initiatives aimed at reducing or eliminating this
problem, many of us are ignorant of them
because we are preoccupied with the notion that
C. anything from the government is expensive. It is
also the foundation for determining whether or
not the country's economy is improving.
Scarcity varies across the country at different
times. In my opinion, the Philippines has a
plenty of resources, but the problem is that
certain people mismanage them to the point of
3.SCARCITY A. abusing some of them. Scarcity arises only
when supply is limited while demand is great,
resulting in an increase in price.
We now have a population of 100 million
Filipinos and growing. As the population grows,
4.POPULATION E. so does demand; however, our resources do not
keep pace with the growth of our population,
which has an impact on how supply meets
consumer wants.
Every customer is affected by inflation. The
5.INFLATION purchasing power of the dollar has deteriorated.
D. This type of situation will disproportionately
affect low-income earners.

Additional Practice: Assignment

Aside from the given economic problems presented, identify most current economic issue that the
country is facing today. Give at least 5 basic economic problems. Write the answer on your answer
sheet.
Education
Jobs
Lack of Transportation
Lack of Medical equipments, personnel and services
Oversupply of goods