GANAO, FRANCINE SAYRA S.

12 – SAINT MATTHEW
Activity 1.1.5 Making It Count!
The Philippines has encountered many serious problems most of the time. In view of this, list
down some of these economic problems the country has encountered for this year. Opposite that
problem, give at least three possible solutions that you think will help solve the problem.
Economic Problems Possible Solutions
1. Nowadays, businesses and some jobs have high
standards for their workers. For example, is that
1. Poverty they must be a graduate, but not all people have
the privilege to go to school and graduate, which
is the reason why they end up not having a job or
have a job with a salary that won’t be enough to
feed a whole family. So, I think the possible
solution is to provide jobs to people because they
could do it, not because of their credentials or
where they graduated.

2. Poverty could be reduced or even lessen if the

corruption also stops for there is a lot of money
that could’ve been spent for those who need it, but
there are just some people who are greedy,
corrupting the money that’s not supposed to be for
them.

3. Just like what I said earlier since businesses and

jobs look at your credentials, it would be better if
everyone has access to education for education
helps us discover our skills and polish our
abilities. Education itself may not help us get rich,
but it will help us learn as well as add to our
credentials.
1. People have abilities that they are yet to
discover, and those abilities could help us in the
2. Unemployment future. And once you find out the abilities that you
can do, the best way is to polish it and become a
professional. You might not know, you might be
able to make use of those abilities for some jobs
that will help to feed us and buy the essential
things that we need.

2. One of the possible solutions is to keep

educating ourselves may it be professionally or
personally for education, whether we like it or not,
is a big part of our lives. Just like what they said,
 education is a key to our future and success. Plus,
nowadays, education also affects jobs, so it is
important.

3. Create your own business, self-employing

yourself for it is the best way to earn a job, and
since it’s your own business, you are your own
boss, not taking orders from anyone else.
1. By reducing the interest rate, the central bank
basically sends additional money directly into the
3. Recession pockets of families and businesses, motivating
savers to spend it. As an outcome, individuals who
have a loan with a variable interest rate will spend
far less on their lender per month. Rather, they'll
be willing to spend their spare funds on the
economy.

2. By reducing tax. When governments lower

taxes, the annual deficit is frequently grown as a
result. Although the government collects less in
tax income, it generally maintains the same
amount of spending, resulting in a benefit to the
economy as a whole. Regardless of the fact that
the budget shortfall grows, the ordinary
consumer's pockets are packed with more money.

3. By removing regulations. The huge proportion

of laws that many companies should conform to is
among the obstacles they encounter. Many
enhance not just the cost of doing business, but
rather the cost of operations with consumers. This
not only affects the performance of the company,
but also decreases the cost of goods for consumers
by eliminating regulatory impediments. Other
laws, like labor laws, are also in place. It enhances
the economic incentive to commence investment
in new employees by making it easier for them
both to recruit and dismiss people. As more
individuals join the workplace, the economy might
just get back on track, with more people spending
money and growing economic production.
Activity 1.1.6 Think and Reflect
Directions: Make a reflection journal where you will write your answers to the following
questions:
1. According to research, the economy in the Philippines from years ago has been rapidly
growing probably because there are a lot of businesses at that time, so an increase is
something to be expected, but then, there are a lot of changes happened ever since the
happening of the pandemic. Since Corona Virus spread like wildfire, people valued their
lives and had to close their businesses because of the lockdown. It impacted the growth of the
economy as well as the reduction of poverty. Many people lost their jobs, so poverty is
something inevitable, affecting the lives of people as well. It also impacted the exporting of
goods, resources, as well as the slowdown in tourism. But then, despite that, it didn’t stop
entrepreneurs from opening their businesses through the means of doing online businesses.
There are even new establishments such as new stores and cafés when 2021 started. So, I
must say that even though the economy fell, it started coming back up again because of the
new establishments that people built. As of now, I can’t say that the economy is already
developed, but I believe that it is developing and recovering despite the impact that the
lockdowns and the virus caused.
2. One of the main economic problems is having limited resources but having unlimited wants.
It is one of human nature for wanting something or aiming for a goal right after their wants
are fulfilled. They start having new desires, but the problem is the only thing that’s abundant
in this world is things that don’t cost, which is air for example. Since the demands of people
are getting higher, there is a possibility of the decrease of resources especially if labor and
supply aren’t high. And since there are limited resources, people won’t be able to make all
products so the economy needs to make a proper decision on which products should be
produced for people. And since it’s in human nature to desire something once again after
achieving what you want, it’s impossible for it to stop. So, as a student, one of the ways to
eliminate or minimize the problems is to know all the types of risks and how they will affect
your supplies’ resources. Always check your products to be able to decrease the scarcity of
resources and their risks as well as make strategies on how you’ll be able to reduce and
minimize the negative impact and calculate the probabilities on how you’ll maximize the
positive impact on the production process. To be honest, there are a lot more problems that
the economy is facing, but then, of course, all problems have solutions. If you know how to
manage well as well as recognize the risks, you’ll be able to reduce the problems or even
eliminate them.
Activity 1.1.7. I Can Do This!

If you were to advise the President of the Philippines on how to cope with the issues on poverty
and unemployment to improve the lives of the Filipino people, what would you tell him and
why?

There is no perfect President, and I must say that the President right now also had a fair share of
mistakes in the downfall of the economy, which affected the poverty and unemployment of the
Filipinos as well. Before we say the things that could help reduce the unemployment rate and
poverty, how do those things increase as time goes by in the first place? For me, it’s because of
the two important factors, which are economy as well as corruption. Throughout the years,
corruption has been one of the issues that every country is facing, and the Philippines is not an
exception to that for I’ve witnessed officials and people doing such an immoral thing, and it
impacts a lot of essential things in the country. Since corruption causes financial distortions, it
promotes inequality as well as affects the poor the most, which is the reason why they are the
ones who suffer. It plays a big role in economic growth and on the other hand, it also creates a
big impact on poverty. If our economy is better with new establishments and businesses where
positions are free for the people to apply, the unemployment rate will decrease, but if it’s in a
situation where our economy is dropping, then the worst-case scenario might happen. Other than
that, if the money of the country is being managed well, it could help lessen poverty and
unemployment in our country. Instead of focusing our funds on unessential things, it would be
better to send it to the educational institutions for the students will have effective learning
throughout the years they are in schools. They should also prioritize teaching more about life,
business, and a lot of essential things because there are a lot of unnecessary things that people
study in school that don’t help them in their daily lives at all. After all, education plays a big role
in people's lives. It might take all the years you have, but you come of it as a better you, and it
would be much better if people come out of it as a person whose dreams and goals are about to
be placed in their hands. Not all people are granted the privilege to study and nowadays, most
jobs require people to at least graduate high school or college. Poverty and unemployment are
inevitable in a country that doesn’t know how to manage the funds well, and with officials
grafting, then it will continue to increase. In other words, how the officials and government
manage the country has a big impact on people and their lives. So, the first step to reducing
poverty and the unemployment rate is to elect people who are deserving and know how to serve
their country instead of individuals who only think of their own gain than doing their job well.

                Additional Activities

Activity 1.1.8 Drawing Out the Artist in You!
Create a poster showing a basic economic problem in locality. To make a poster, you need white
cartolina and some drawing and coloring materials. The poster must look neat, and the labels are
readable and relevant.

- The economy has a great impact in our society. If it falls in the wrong hands,
problems will pile up such as poverty, inequality, unemployment and many more, but
if it’s in good hands, those problems could be reduced, and solutions will appear. The
hands represent as the economy itself as well as the people while the pieces represent
the problems and solutions that will pile up. It is a problem because if we fail to
manage it properly, we’re the ones who’ll be affected by it and it’s not a good idea at
all. Many are suffering as it is and people suffered even more ever since the pandemic
started. Poverty and unemployment increased because of the fall of the economy and
the closes of the businesses, which is the common problem that we are currently
facing right now.