Module 3 2 Semester/Week 5-6

nd

ORGANIZATION AND MANAGEMENT

Activity 1:True or False

Directions: Write TRUE if the statement is correct and FALSE if incorrect.

Write your answer before the number.
TRUE 1.The upward slope of the supply curve illustrates the law of demand “higher price leads to a
higher quantity supplied, and vice versa”.
TRUE 2.The downward slope of the demand curve illustrates the law of supply—the inverse relationship
between prices and quantity demanded.
TRUE 3.Time is important to supply because suppliers must react quickly to a change in demand or price.
TRUE 4.A shift in a demand or supply curve occurs when quantity demanded or supplied changes even
though price remains the same.
TRUE 5.The law of supply says that ―at higher prices, sellers will supply more of economic goods.

Activity 2: Solving Problem and Critical Thinking Analysis

Directions: Analyze the problem carefully. In December, the price of hamon rises and the number of hamon
sold also rises. Is this a violation of the law of demand? Justify your answer.

No, this is not a violation of the law of demand. It is not only a shift in the demand
curve. The demand for "Hamon" rises in December, leading the curve to move to the right.
This raises the price of Hamon and also the quantity of Hamon sold. Since it is in December
and is seasonal, Hamon's has strong sales.

Activity 3 REFLECTIVE LEARNING SHEET

Module 3 2 Semester/Week 5-6

As a consumer, I can sustain my needs despite the challenges in the market by buying things just when
they are needed. I will be wise in terms of deciding on which items should I buy and will practice financial
discipline. I will not have an irrational desire to go window shopping and end up purchasing high-end items that
are not necessary. I will always keep in mind to prioritize my basic needs and stick to them. I should stick to the
consumption limits in my essential needs or commodities. I will utilize my money to satisfy my needs at an
affordable possible cost.