Task 1:

 The major concepts of this pictures was all about scarcity as shown in pictures it causes drought or
limited natural resources of water. In this concept of scarcity explains why individuals and society
make choices. Scarcity is satisfying unlimited human wants with limited resource. In other words,
there aren’t enough resources available to produce all the goods necessary to satisfy everyone’s
needs. Since human wants and needs are unlimited and the available resources are finite, scarcity
naturally results leaving the society with the problems of resources allocation.

Task 3:

GOODS CAUSE OF THE PROBLEM POSSIBLE SOLUTIONS

The shortage supply of sugar struggles to control The possible solution is to exert
SUGAR surging prices of the sweetener in a country efforts to control surging prices of
already battling soaring food costs. the sweeteners.

Medicines shortages may result from limited
MEDICINES availability of active ingredients, manufacturing
problems, natural disasters and trade issues. Such
shortages continue to challenge the delivery of
healthcare services across the world and affect
both branded and generic medicines.
The supply of white onions is tight and the prices
WHITE ONIONS are high, that’s the problem.
The low production of soft drinks due to refined
SOFTDRINKS sugar production shortage will reinforce the
earlier resolution to prohibit the use of
sweetened beverage
The shortage of rice in local market was unjust
RICE suggested retail price of rice from local farmers,
price of rice can be expensive at the same time.
The possible solutions is to find
manufacturers of high-quality
products and pay them enough
for their drugs so that they make
a reasonable profit and can invest
in their facilities when they need
to.
The government should import
white onions to fill the demand in
the market.
Soda products shortage chance to
shift to healthy drinks.
One solution to the rice shortage
is to have an alternative foodstuff
other than rice on each meal, and
consuming less amount of rice.
 SERVICES CAUSE OF THE PROBLEM
This can be caused by high energy prices, old
ELECTRIC UTILITY infrastructure, and increasing demand. Hot
SERVICES temperatures, for example, can add stress to the
electric grid as people turn on air conditioners all
at once. The result can be a shortage, leading to
brownouts or blackouts.
Overuse, water pollution, lack of infrastructure,
WATER SUPPLY and changing weather patterns due to climate
SERVICES change are some of the drivers of water scarcity.
 Faults, errors or discards in network
INTERNET SERVICES devices.
 Operational human errors and
mismanagement of devices.
 Link failure caused due to fiber cable cuts
or network congestion.
 Power outages.
 Server hardware failure
The shortage of hospitals and surgical equipment
HOSPITAL SERVICES are the primary barriers to quality healthcare that
was controlled by any factors namely demands
for health care, supply and distribution of the
same.
The problem of event services it was Increased
EVENTS PLANNING the demand with limited options means rental,
SERVICES catering, and all associated costs with event
venues will likely increase.
POSSIBLE SOLUTIONS
The sustainable alternative energy
solutions include solar energy,
hydropower, wind energy,
geothermal energy and biomass
energy.
One solution is to make more water
available through recycling. The
building of more desalination plants
may be done but it is very
expensive. Another solution that
the city officials are doing now is
educating the people so they do not
waste water.
The possible solutions is to report
the problem to the management
services of internet so that They
should repair all the towers to
lessen this problem.
The possible solutions is to improve
hospitals and health facilities, and
employ more health workers.
We should set a budget for how
much can be spent and forces
planners to figure out what to put
more money into throughout the
planning process.
ACTIVITY 3:
MACROECONOMICS

MICROECONOMICS
 Both
 Macroeconomics
microeco
analyzes the decisions
 Microeconomics studies nomics
made by countries and
individuals and business and
governments.
decisions. It focuses on macroeco
individuals, companies, nomics
groups, etc. study the  Macroeconomics is the
same field of economics that
 Microeconomics is the economy. studies the behavior of
study of decisions that  Common the economy as a whole
people and businesses assumptio and not just on specific
make regarding the ns of companies, but entire
allocation of resources economic industries and
and prices of goods and s and economies.
services. human
behavior.
 Focus on betterment &
 Focus on growth and
growth of entire
development of
company.
individuals.

Task 4:

 Three (3) things I learned from the lesson

1. I learn the economic concept of scarcity that can apply to our life that there are fewer resources
than are needed to fulfill of what wants and needs.
2. I learn the similarities and differences of microeconomics and macroeconomics.
3. I learn the causes of problems and the possible solutions of good and services that I was listed in
task 3.

 Two (2) Interesting Facts

1. Economic wants are desires of people to use goods and services that provide utility which
means satisfaction.
2. Products are sometimes classified as luxuries or necessities, but division is subjective.
  One (1) question I still have
1. Consider goods and services that I observe people using on a daily basis. What would be the
strategies to see that used most frequently to allocate these goods and services? When you
want to consider goods and services needed during a natural disaster or other emergency
instead.

PART A Identification

1. Economics
2. nomus
3. Macroeconomics
4. Scarcity
5. Microeconomics

PART B ESSAY

1. What do you understand about the phrase “Economics is simply scarcity and choice”?
(Explain. Answer in complete sentences.)

My own understanding about the phrase of “ Economics is simply scarcity and choice “ . Scarcity is
wanting more than what is available. Choice is the alternative between them. In society it is about
making decisions between limited resources. A decision must be made on how to divide our limited
income. One could choose to go to school or work. Another choice saving or spending. Business
owners must decide what to produce, how to produce, and how much to produce. This choice is a
trade. A Trade is giving up a thing to get something . It is important because there wouldn't be
economy if there is no one to choose what or how to produce goods and services.

2. How will you apply the things you have just learned in this module on your daily life?

I will apply economics in my daily life to take strategic decisions using limited resources because
everything available around us is limited. That is why economics teaches me to utilize those resources to
the best of my interest. Economics helps me to understand how markets functions, and if I understand
how markets functions I’ll able to understand the true usefulness of economics. It will also help me to
see things in a different way and it will help me to understand the importance of our resources.
Economics affects my life in every aspect of it from the moment I wake up to the moment I go to sleep
so basically every decision I make whether it involves money or not it involves economics.

ADDITIONAL TASK:
 COMMUNITY PROFILE OF BARANGAY SABANG BULUSAN

Sabang is one of the brgy in the municipality of bulusan in the province of Sorsogon it is
a coastal barangay situated within the 16 kilometers shoreline of bulusan. According to
some elders, Barangay was named sabang being an intersection point of water flowing
from a river tributary and a creek down to the open sea. Sabang being one of the
biggest barangay in bulusan in terms of population was sub- divided into 2 barangays,
the other was named Mabuhay. The population of Sabang grew from 1,286 in 1990 to
1,309 in 2022, an increase of 23 people over the course of 30 years. The latest census
figures in 2020 denote a negative growth rate of 0.30%, or a decrease of 19 people,
from the previous population of 1,328 in 2015. There are 44 total business
establishments in barangay sabang.

Description Type of Business Total

Establishment
Store Sari – sari stores 31
Store Bakery 2
Internet Internet Cafe 2
Studios Photo Studio 1
Buy and Sale Marine Products 1
Buy and Sale Copra and Coconut 1
Shop Motorcycle Shop 2
Shop Beauty Salon 1
Shop Welding Shop 1
Food Processing Cacao and Pili 2
Processing
TOTAL 44

STRENGTH WEAKNESSES

 Having an abundant water  Lacking job opportunities or offers

connections provided by the for the people who are unemployed.
Local Government unit water  Lack of additional source of income
system.  No reliable healthcare
 Activeness of Barangay  Has lots of unhealthy people.
Leaders
 Willingness of the community
members to develop their
community.
 Willingness and capacity of
people to learn.