ENTRE 3: Microeconomics

1. Clip an economic news article from the paper or magazine. Explain why & how the issue being discussed is economic in nature.
(10pts)

 Poverty entails more than the lack of income and productive resources to ensure sustainable livelihoods. Its manifestations
include hunger and malnutrition, limited access to education and other basic services, social discrimination and exclusion, as
well as the lack of participation in decision-making. Around 10 per cent of the world population was living in extreme
poverty and struggling to fulfil the most basic needs like health, education, and access to water and sanitation, to name a
few.

2. Write an essay on why the study of economics is important & how a knowledge of economies will help you become a better &
more informed citizen. (10pts)

 ECONOMICS
So what is Economics? At its core, economics is the study of how individuals, groups, and nations manage and use
resources. Economics can be broken down into microeconomics, which examines individual decisions, and macroeconomics,
which is concerned with the economy as a whole. Both types of economics utilize historical trends and current conditions to
inform business decision-making and make predictions of how markets will behave in the future.
Why is studying economics important? Students who choose to study economics not only gain the skills needed to
understand complex markets but come away with strong analytical and problem-solving skills, as well as the business
acumen necessary to succeed in the professional world.
In fact, economics can be useful for professionals in all industries and aspects of daily life, not just in business. An education
in economics can improve your employability in a variety of industries. In addition, many careers require knowledge of
economic concepts, models, and relationships.

3. Examine the problems of the following: state your opinion & conclusion

1. Housing shortage (10pts)

 House shortage is about the lack in the number of houses needed to accommodate the population of an area (e.g. in
cities). In turn, this leads to increasing demand for housing and no longer able to afford rents, and more people will end
up in poverty since they will simply not be able to afford anything apart from the most basic things. One solution to the
housing crisis is that governments must spend more money on public housing. Those housing projects are meant to
provide affordable housing to people will low-to-medium incomes.
2. Unemployment (10pts)
 Here in Philippines and other countries, rates of unemployment have increased during the economic downturn in the
early part of the 21st century. Unemployment remains a serious economic problem. It is also a major public health
issue. And I believe it has many different reasons, such as attending school, did not finish studying, focusing on being a
parent, lack of experience, and so on. Our country should increase the industrial activity to have more opportunities for
unemployment individual.