Name: Elmerlisa A.

Llaneta Date: 09/10/2022

Module 1 : Basic Concepts

and Principles

Activity 1
Economics is the study of how individuals, businesses,
government and other organizations to use scarce
resources to satisfy numerous needs ands wants in a
manner that is accountable and equitable.

Activity 2
Normative Economics
1.The inflation rate in the Philippines is too high.
2.Unemployment is more powerful than inflation.

Positive Economics
1.The Philippines unemployment rate dropped to 6.0
percent in May 2022.
2.Raising tax on beer will have a negative effect on
the profits of brewers.

Activity 3
My family has been in a state of financial crisis for
nearly 17 years since my father was died when I was 2
years old. I discovered just how much economics affected
our lives at a personal level. It's not always easy to meet
our financial obligations each month and that's where
creating a family budget help us. Nearly everyday, we
have multiple financial demands placed upon us.
 Whether it is grocery shopping or paying the monthly
electric bill, we're faced with family budget decisions all
the time. Through budgeting, we manage the salary of
my mom and I also have a part time job that helps us to
keep a budget and record all the transactions to see
where the money is going.

What to Produce
One of the problem that our government is facing is the
production of sugar cane. Some of the province that
planted sugar cane are suffering because of climate
change or global warming that affects the production of
sugar cane. We need to produce and planted more sugar
cane in every selected province so that we don't have
shortage in the supply of sugar cane in our country and
the demand of this are always in us.

How to Produce
Every province planted by sugar cane needs a good
supervision in the plantation to produce a good quality of
sugar. The government will help to buy a good fertilizer
and other expenses that is needed for sugar plantation to
produce the expected and target production of sugar
cane. The farmers of sugar cane wants to meet the target
demand of the market so that the consumers will do not
suffer for high price increase of sugar. The government
needs to maximize this and support the necessity of the
farmers of sugar cane.

For whom to produce

The production of this sugar cane will benefit all the
people especially in the urban areas that have higher or
lower income people. For example, the factory, market,
bakery, consumer, etc.