SITUATION A B C D E

ICE CREAM IN SUMMER D D1 > :) :(

A FAMOUS FAST FOOD CHAIN OPENED

UP A STORE IN SASKATCHEWAN,
CANADA S D1 > :) :(

A FAMOUS SHOE MANUFACTURER

USES THEIR FACTORY TO CREAT FACE
MASKS D S1 > :) :(
MALLS DURING DECEMBER D D2 > :) :(

BFAR BANS FISHING IN SIBUGUEY BAY,

SULU SEA AND BASILAN STRAIT FOR 3
MONTHS S S1 < :) :(

I.
TRADITIONAL ECONOMY 1.
MARKET SYSTEM 2.
MARKET SYSTEM 3.
COMMAND ECONOMY 4.
COMMAND ECONOMY 5.
TRADITIONAL ECONOMY 6.
TRADITIONAL ECONOMY 7.
MARKET SYSTEM 8.
COMMAND ECONOMY 9.
COMMAND ECONOMY 10.
II.
X 1.
X 2.
Y 3.
Y 4.
X 5.
III.
applied economics 1.
opportunity cost 2.
microeconomics 3.
market system 4.
macroeconomics 5.
IV.
what to produce 1.
how to produce 2.
for whom to produce 3.
microeconomics 4.
macroeconomics 5.
land 6.
labor 7.
capital 8.
relative scarcity 9.
absolute scarcity 10.